BIRENDRA SINGH NIRBHAY,SIRSI ROAD JAIPUR RAJASTHAN vs. ITO WARD 3(1) JAIPUR, NCRB INCOME TAX DEPARTMENT STATUE CIRCLE JAIPUR RAJASTHAN

In the result, the appeal of the assessee is allowed

section 68 of the IT act by treating the Long Term Capital Gain on sale of\nshares as unexplained cash credit. The addition of Rs.1,51,869/- being the\ndeemed commission for taking the accommodation entry, is consequential to the\nmain issue. Hence, the same is also not sustainable”.\n4. Shri Vivek Agarwal vs. ITO (2017) 292/JP/2017 (ITAT Jaipur) Order

LAL CHAND MEENA,JAIPUR vs. ITO WD 5(2), JAIPUR

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

section 148 or to disclose fully and truly all material facts necessary for his assessment, for that assessment year" The assessee objected to such re-opening as it was hit by the first proviso to sec 147, whereby an assessment / re-assessment completed u/s 143(3) of the act is sought to be re-opened after lapse of four years

SHRI ARNAV GOYAL,JAIPUR vs. ITO, WARD-2(4), JAIPUR

In the result, the appeal of the assessee is allowed

Bench: Hon’ble SHRI SANDEEP GOSAIN (Judicial Member)

section 10(38). Further, ld.AO had referred some order of SEBI having no direct reference of the assessee. During the course of assessment proceeding, opportunity for cross examination of the witnesses of the department i.e. the above named two persons whose statements were solely relied upon to conclude that the assessee has obtained accommodation entries, was demanded but the same

NIRMAL KUMAR AGRAWAL,JAIPUR vs. DCIT, CIRCLE - 4 , JAIPUR

In the result, the appeal of the assessee is allowed

section 68 of the IT Act by treating the Long Term Capital Gain on sale of shares as unexplained cash credit. The addition of Rs. 1,51,869/- being the deemed commission for taking the accommodation entry, is consequential to the main issue. Hence, the same is also not sustainable.” We are of the view that the present appeal does

SHRI ASHNUTH GOYAL,JAIPUR vs. ACIT, WARD -1(3), JAIPUR

In the result, the appeal of the assessee is allowed

Bench: Him. Thus, The Addition Of Rs. 30,04,864/- So Uphold Deserves To Be Deleted. Shri Ashnuth Goyal Vs Acit, Ward 1(3), Jaipur

section 10(38). Further, ld.AO had referred some order of SEBI having no direct reference of the assessee. During eh course of assessment proceeding, opportunity for cross examination of the witnesses of the department i.e. the above named two SHRI ASHNUTH GOYAL VS ACIT, WARD 1(3), JAIPUR persons whose statements were solely relied upon to conclude that the assessee

ACIT,CC-4, JAIPUR vs. SHRI RAMESH KUMAR MANTRI, JAIPUR

In the result appeals of the revenue are dismissed and the cross

capital gain including the report of the SIT report he had relied upon. He has heavily relied on the statement recorded u/s. 132(4) of the Act wherein the assessee has accepted the amount as not genuine transactions and therefore, the same CO No. 15 & 16/JP2020 & others ACIT vs. Sh. Ramesh Kumar Mantri may be viewed in accordance with

ACIT, CC-4, JAIPUR vs. SHRI MUKESH JAIN, JAIPUR

In the result appeals of the revenue are dismissed and the cross

capital gain including the report of the SIT report he had relied upon. He has heavily relied on the statement recorded u/s. 132(4) of the Act wherein the assessee has accepted the amount as not genuine transactions and therefore, the same CO No. 15 & 16/JP2020 & others ACIT vs. Sh. Ramesh Kumar Mantri may be viewed in accordance with

ACIT,CC-4, JAIPUR vs. SHRI RAMESH KUMAR MANTRI, JAIPUR

In the result appeals of the revenue are dismissed and the cross

capital gain including the report of the SIT report he had relied upon. He has heavily relied on the statement recorded u/s. 132(4) of the Act wherein the assessee has accepted the amount as not genuine transactions and therefore, the same CO No. 15 & 16/JP2020 & others ACIT vs. Sh. Ramesh Kumar Mantri may be viewed in accordance with

ACIT, CC-4, JAIPUR vs. SMT. ASHA JAIN, JAIPUR

In the result appeals of the revenue are dismissed and the cross

capital gain including the report of the SIT report he had relied upon. He has heavily relied on the statement recorded u/s. 132(4) of the Act wherein the assessee has accepted the amount as not genuine transactions and therefore, the same CO No. 15 & 16/JP2020 & others ACIT vs. Sh. Ramesh Kumar Mantri may be viewed in accordance with

ACIT, CC-4, JAIPUR vs. SHRI MUKUT BEHARI AGARWAL, JAIPUR

In the result appeals of the revenue are dismissed and the cross

capital gain including the report of the SIT report he had relied upon. He has heavily relied on the statement recorded u/s. 132(4) of the Act wherein the assessee has accepted the amount as not genuine transactions and therefore, the same CO No. 15 & 16/JP2020 & others ACIT vs. Sh. Ramesh Kumar Mantri may be viewed in accordance with

ACIT, CC-4, JAIPUR vs. SHRI MUKESH JAIN, JAIPUR

In the result appeals of the revenue are dismissed and the cross

capital gain including the report of the SIT report he had relied upon. He has heavily relied on the statement recorded u/s. 132(4) of the Act wherein the assessee has accepted the amount as not genuine transactions and therefore, the same CO No. 15 & 16/JP2020 & others ACIT vs. Sh. Ramesh Kumar Mantri may be viewed in accordance with

ACIT, CC-4, JAIPUR vs. SHRI MUKUT BEHARI AGARWAL, JAIPUR

In the result appeals of the revenue are dismissed and the cross

capital gain including the report of the SIT report he had relied upon. He has heavily relied on the statement recorded u/s. 132(4) of the Act wherein the assessee has accepted the amount as not genuine transactions and therefore, the same CO No. 15 & 16/JP2020 & others ACIT vs. Sh. Ramesh Kumar Mantri may be viewed in accordance with

ACIT, CC-4, JAIPUR vs. SMT. SUNITA AGARWAL, JAIPUR

In the result appeals of the revenue are dismissed and the cross

capital gain including the report of the SIT report he had relied upon. He has heavily relied on the statement recorded u/s. 132(4) of the Act wherein the assessee has accepted the amount as not genuine transactions and therefore, the same CO No. 15 & 16/JP2020 & others ACIT vs. Sh. Ramesh Kumar Mantri may be viewed in accordance with

ACIT, CC-4, JAIPUR vs. SMT. SANGEETA MANTRI, JAIPUR

In the result appeals of the revenue are dismissed and the cross

capital gain including the report of the SIT report he had relied upon. He has heavily relied on the statement recorded u/s. 132(4) of the Act wherein the assessee has accepted the amount as not genuine transactions and therefore, the same CO No. 15 & 16/JP2020 & others ACIT vs. Sh. Ramesh Kumar Mantri may be viewed in accordance with

RAJRAJESHWARI GUPTA ,KOTA vs. ITO , WARD 1(1),KOTA, KOTA

In the result, the appeal of the assessee is allowed with no orders as to costs

Bench: Hon’ble SHRI SANDEEP GOSAIN (Judicial Member)

section 68. 26 RAJ RAJESHWARI GUPTA VS ITO, WARD 1(3), KOTA 1.31As the issue involved is of chargeability of long term capital gain as undisclosed income of the assessee u/s 68 of the Act, it may be mentioned that many High courts and ITAT benches have held in favour of the assessee. In one of the cases

INCOME TAX OFFICER, WARD-1-5, JAIPUR vs. SHRI BANWARI LAL SHARMA, JAIPUR

In the result, both the appeals filed by the assessee and Revenue are disposed off in light of aforesaid directions

section 160, 161 and 162 of the Act. As part of the same, the AO initiated the proceedings u/s 147 by issue of notice u/s 148 dated 25.03.2011 to the assessee as representative assessee of Smt. Pamela Jean Colleco and the proceedings were thereafter completed by passing of the assessment order u/s 147/144 dated 29.12.2011 where long term capital gains

SHRI BANWARI LAL SHARMA,JAIPUR vs. INCOME TAX OFFICER, WARD-1-5, JAIPUR

In the result, both the appeals filed by the assessee and Revenue are disposed off in light of aforesaid directions

section 160, 161 and 162 of the Act. As part of the same, the AO initiated the proceedings u/s 147 by issue of notice u/s 148 dated 25.03.2011 to the assessee as representative assessee of Smt. Pamela Jean Colleco and the proceedings were thereafter completed by passing of the assessment order u/s 147/144 dated 29.12.2011 where long term capital gains

MADAN MOHAN GUPTA ,KOTA vs. ITO WARD 1(3) , KOTA

section 68.\n1.31As the issue involved is of chargeability of long term capital gain as undisclosed\nincome of the assessee u/s 68 of the Act, it may be mentioned that many High\ncourts and ITAT benches have held in favour of the assessee. In one of the cases\n(CIT vs. Mukesh Ratilal Marolia) SLP filed by the Revenue against