DCIT, CC-2, JAIPUR vs. M/S. ROYAL JEWELLERS, JAIPUR

In the result, appeals of the revenue stands dismissed

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

capital gain. The order of the CIT (A), affirmed by the ITAT, deleting the addition, was not interfered with." 16. It is worth mentioning that Jurisdictional High Court i.e. Rajasthan High Court in the case of Jai Steel (India) Vs. ACIT (2013) 36 Taxmann.com 523 / 219 Taxman 223 has also occasion to discuss the issue of addition u/s 153A

DCIT, CC-2, JAIPUR vs. M/S. ROYAL JEWELLERS, JAIPUR

In the result, appeals of the revenue stands dismissed

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

capital gain. The order of the CIT (A), affirmed by the ITAT, deleting the addition, was not interfered with." 16. It is worth mentioning that Jurisdictional High Court i.e. Rajasthan High Court in the case of Jai Steel (India) Vs. ACIT (2013) 36 Taxmann.com 523 / 219 Taxman 223 has also occasion to discuss the issue of addition u/s 153A

DCIT, CC-2, JAIPUR vs. M/S. ROYAL JEWELLERS, JAIPUR

In the result, appeals of the revenue stands dismissed

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

capital gain. The order of the CIT (A), affirmed by the ITAT, deleting the addition, was not interfered with." 16. It is worth mentioning that Jurisdictional High Court i.e. Rajasthan High Court in the case of Jai Steel (India) Vs. ACIT (2013) 36 Taxmann.com 523 / 219 Taxman 223 has also occasion to discuss the issue of addition u/s 153A

ACIT, CC-2, JAIPUR, JAIPUR vs. MAHENDRA SINGH RATNAWAT, JAIPUR

In the result, the appeals of the Revenue are dismissed and

gains only. Despite this the company has advanced substantial amount of loan to the assessee. These companies are showing high share premium and are almost exclusively utilizing all this capital for extending loans and advances or investing in unlisted company equality and these are the paper companies indulge in accommodative transactions. A search u/s. 132(1

ACIT, CC-2, JAIPUR, JAIPUR vs. MAHENDRA SINGH RATNAWAT, JAIPUR

In the result, the appeals of the Revenue are dismissed and

gains only. Despite this the company has advanced substantial amount of loan to the assessee. These companies are showing high share premium and are almost exclusively utilizing all this capital for extending loans and advances or investing in unlisted company equality and these are the paper companies indulge in accommodative transactions. A search u/s. 132(1

ACIT, JAIPUR vs. RATAN KANWAR RATNAWAT, JAIPUR

In the result, the appeals of the Revenue are dismissed and

gains only. Despite this the company has advanced substantial amount of loan to the assessee. These companies are showing high share premium and are almost exclusively utilizing all this capital for extending loans and advances or investing in unlisted company equality and these are the paper companies indulge in accommodative transactions. A search u/s. 132(1

ACIT, JAIPUR vs. RATAN KANWAR RATNAWAT, JAIPUR

In the result, the appeals of the Revenue are dismissed and

gains only. Despite this the company has advanced substantial amount of loan to the assessee. These companies are showing high share premium and are almost exclusively utilizing all this capital for extending loans and advances or investing in unlisted company equality and these are the paper companies indulge in accommodative transactions. A search u/s. 132(1

DCIT, CENTRAL CIRCLE, AJMER vs. M/S SILVERTOSS COMMODITIES PVT. LTD., KOLKATA

The appeals of the revenue stand dismissed and the cross objections of the assessee are partly allowed

1) (b) provides for the assessment or reassessment of the total income of the six assessment years immediately preceding the assessment year relevant to the previous year in which the search took place. To repeat, there is no condition in this Section that additions should be strictly made on the basis of evidence found in the course of the search

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOTA vs. M/S KOTA DALL MILL, KOTA

1)(c) of the Act. The material found in the search may be a ground for notice and assessment under Section 153A of the Act but that would not efface or terminate all the consequence, which has arisen out of the regular assessment or reassessment resulting into the demand or proceedings of penalty." (Emphasis supplied) The said judgment which essentially

M/S KOTA DALL MILL,KOTA vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOTA

1)(c) of the Act. The material found in the search may be a ground for notice and assessment under Section 153A of the Act but that would not efface or terminate all the consequence, which has arisen out of the regular assessment or reassessment resulting into the demand or proceedings of penalty." (Emphasis supplied) The said judgment which essentially

M/S KOTA DALL MILL,KOTA vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOTA

1)(c) of the Act. The material found in the search may be a ground for notice and assessment under Section 153A of the Act but that would not efface or terminate all the consequence, which has arisen out of the regular assessment or reassessment resulting into the demand or proceedings of penalty." (Emphasis supplied) The said judgment which essentially

M/S KOTA DALL MILL,KOTA vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOTA

1)(c) of the Act. The material found in the search may be a ground for notice and assessment under Section 153A of the Act but that would not efface or terminate all the consequence, which has arisen out of the regular assessment or reassessment resulting into the demand or proceedings of penalty." (Emphasis supplied) The said judgment which essentially

POOJASHISH INFRASTRUCTURES PVT. LTD.,KOTA vs. DEPUTY COMMISSIONER OF INCOME TAX, KOTA

In the result, appeal of the assessee is allowed

1)(c) of the Act. The material found in the search may be a ground for notice and assessment under Section 153A of the Act but that would not efface or terminate all the consequence, which has arisen out of the regular assessment or 23 Poojashish Infrastructures Pvt. Ltd., Kota Vs.The DCIT, Kota reassessment resulting into the demand or proceedings

M/S. MULTI METAL PRIVATE LTD.,KOTA vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOTA

1)(c) of the ITA Nos. 1024 to 1026, 1100 to 1104 & 1230/JP/2018 & 33 CO 38 & 39/JP/2018 Multimetals Ltd, Vs DCIT Act. The material found in the search may be a ground for notice and assessment under Section 153A of the Act but that would not efface or terminate all the consequence, which has arisen out of the regular assessment

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOTA vs. M/S. MULTI METAL PRIVATE LTD., KOTA

1)(c) of the ITA Nos. 1024 to 1026, 1100 to 1104 & 1230/JP/2018 & 33 CO 38 & 39/JP/2018 Multimetals Ltd, Vs DCIT Act. The material found in the search may be a ground for notice and assessment under Section 153A of the Act but that would not efface or terminate all the consequence, which has arisen out of the regular assessment

M/S. MULTI METAL PRIVATE LTD.,KOTA vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOTA

1)(c) of the ITA Nos. 1024 to 1026, 1100 to 1104 & 1230/JP/2018 & 33 CO 38 & 39/JP/2018 Multimetals Ltd, Vs DCIT Act. The material found in the search may be a ground for notice and assessment under Section 153A of the Act but that would not efface or terminate all the consequence, which has arisen out of the regular assessment

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOTA vs. M/S. MULTI METAL PRIVATE LTD., KOTA

1)(c) of the ITA Nos. 1024 to 1026, 1100 to 1104 & 1230/JP/2018 & 33 CO 38 & 39/JP/2018 Multimetals Ltd, Vs DCIT Act. The material found in the search may be a ground for notice and assessment under Section 153A of the Act but that would not efface or terminate all the consequence, which has arisen out of the regular assessment

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOTA vs. M/S. MULTI METAL PRIVATE LTD., KOTA

1)(c) of the ITA Nos. 1024 to 1026, 1100 to 1104 & 1230/JP/2018 & 33 CO 38 & 39/JP/2018 Multimetals Ltd, Vs DCIT Act. The material found in the search may be a ground for notice and assessment under Section 153A of the Act but that would not efface or terminate all the consequence, which has arisen out of the regular assessment

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOTA vs. M/S. MULTI METAL PRIVATE LTD., KOTA

1)(c) of the ITA Nos. 1024 to 1026, 1100 to 1104 & 1230/JP/2018 & 33 CO 38 & 39/JP/2018 Multimetals Ltd, Vs DCIT Act. The material found in the search may be a ground for notice and assessment under Section 153A of the Act but that would not efface or terminate all the consequence, which has arisen out of the regular assessment