BHOPAL SINGH SHEKHAWAT,JAIPUR vs. ITO, JAIPUR

Capital Gain (LTCG) Rs.7,57,192/-: 3.1 The Id. CIT(A) seriously erred in law as well as on the facts of the case in confirming the addition of LTCG of Rs. 7,57,192/- irt plots No.157-A & 157-B which were sold for & on behalf of Mohd. Irshad and also in holding the appellant to be the beneficiary owner

LATE SHRI RAMAVTAR GUPTA L/H SMT. SHANTI DEVI C/O- JAIN & CO.228, CITY CENTRE, S.C. ROAD, JAIPUR-2368066,JAIPUR vs. PR. COMMISSIONER OF INCOME TAX ALWAR, ALWAR

In the result, the appeal of the assessee is allowed

Bench: : Shri Vijay Pal Rao, Jm & Shri Vikram Singh Yadav, Am Vk;Dj Vihy La-@Ita No. 529/Jp/2019 Fu/Kzkj.K O"Kz@Assessment Year : 2015-16 Cuke Late Shri Ramavtar Gupta The Pr.Cit Vs. L/H Smt.Shanti Devi, 82, Nagar Palika Ki Alwar Gali, Rajgarh, Alwar Lfkk;H Ys[Kk La-@Thvkbzvkj La-@P An/Gir No.: Bdgpr 3689 N Vihykfkhz@Appellant Izr;Fkhz@Respondent Fu/Kzkfjrh Dh Vksj Ls@ Assessee By : Shri Ashok Kumar Gupta & Shri S.L.Jain ,Advocate Jktlo Dh Vksj Ls@ Revenue By : Shri B.K. Gupta, Cit- Dr Lquokbz Dh Rkjh[K@ Date Of Hearing : 11/12/2019 ?Kks"K.Kk Dh Rkjh[K@ Date Of Pronouncement : 13 /12/2019 Vkns'K@ Order Per Vijay Pal Rao, Jm This Appeal By The Assessee Is Directed Against The Revision Order Of Ld. Pr.Cit, Alwar Dated 18-02-2019 Passed U/S 263 Of The Income Tax Act, 1961 For The Assessment Year 2015-16. The Assessee Has Raised The Following Grounds.

192(SC) 7. No Proper Opportunity was Provided :- That on the facts and in the circumstances of the case Ld. Pr. CIT Alwar has grossly erred in law and facts in not providing an opportunity to represent his case which is also specifically mandated u/s 236 of the Act and the principle of natural justice has been violated. 8. Proper

SHRI SUBHASH CHAND KHANDELWAL, NAGAR PALIKA KI GALI RAJGARH, C/O- JAIN & CO. 228, CITY CENTRE, S.C. ROAD, JAIPUR-2368066,ALWAR vs. PR. COMMISSIONER OF INCOME TAX ALWAR, ALWAR

In the result, the appeal of the assessee is allowed

Bench: : Shri Vijay Pal Rao, Jm & Shri Vikram Singh Yadav, Am Vk;Dj Vihy La-@Ita No. 530/Jp/2019 Fu/Kzkj.K O"Kz@Assessment Year : 2015-16 Cuke Shri Subhash Chand Khandelwal The Pr.Cit Vs. Nagar Palika Ki Gali, Rajgarh, Alwar Alwar Lfkk;H Ys[Kk La-@Thvkbzvkj La-@P An/Gir No.: Dmapk 5188 Q Vihykfkhz@Appellant Izr;Fkhz@Respondent Fu/Kzkfjrh Dh Vksj Ls@ Assessee By : Shri Ashok Kumar Gupta & Shri S.L.Jain ,Advocate Jktlo Dh Vksj Ls@ Revenue By : Smt. Manisha Chandra, Cit- Dr Lquokbz Dh Rkjh[K@ Date Of Hearing : 12/12/2019 ?Kks"K.Kk Dh Rkjh[K@ Date Of Pronouncement : 13 /12/2019 Vkns'K@ Order Per Vijay Pal Rao, Jm This Appeal By The Assessee Is Directed Against The Revision Order Of Ld. Pr.Cit, Alwar Dated 19-02-2019 Passed U/S 263 Of The Income Tax Act, 1961 For The Assessment Year 2015-16. The Assessee Has Raised The Following Grounds.

192(SC) 7. No Proper Opportunity was Provided :- That on the facts and in the circumstances of the case Ld. Pr. CIT Alwar has grossly erred in law and facts in not providing an opportunity to represent his case which is also specifically mandated u/s 236 of the Act and the principle of natural justice has been violated. 8. Proper

DINESSH KUMAR SHARMA,JAIPUR vs. ITO, WARD4(2), JAIPUR

In the result, appeal of the assessee is allowed

capital gains' but no addition was made in this regard, as no gains accrued to the appellant.\nHowever, learned AO proceeded to make addition on \"investment amount' under section 69A\nwhich is uncalled for.\n\nGround of Appeal No. 3\n\nThat the Ld. Assessing Officer erred in law in not complying with principles of natural justice.\nFurther

NEERU MOHAN NAGPAL,JAIPUR vs. INCOME TAX OFFICER, ITO WARD 2(3)

In the result, the appeal of the assessee is allowed

192\nIn view of above facts, the assesse has rightly claimed and correctly set\noff the capital loss from capital gain earned on sale of another property\nduring the year under reference and unabsorbed portion of capital loss\nhas been rightly carried forward for the set off in the subsequent year.\nC. The assessee invites your kind attention on Board

DCIT, CENTRAL CIRCLE-2, JAIPUR, JAIPUR vs. KAMLAPRABHA L/H OF LATE SHRI GOPAL LAL JI GOSWAMI, KOTA

In the result, the appeal of the revenue is dismissed and the Cross objection of the assessee is disposed off in terms of the observation made herein above

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

Section 153C of the Income-tax Act, 1961 - Search and seizure - Assessment of any other person (Validity of) - Assessment year 2007- 08 - In appellate proceedings, Tribunal recorded a finding that satisfaction for initiation of proceedings under section 153C was recorded by Assessing officer on 02-02-2015 - Tribunal thus opined that Assessing Officer could not have initiated and passed

PARVINDER KAUR,JAIPUR vs. PCIT-1, JAIPUR

In the result, the appeal of the assessee is allowed

Capital Gain Account Scheme, however, ultimately invested the entire sale consideration in residential house. The court decided the matter against the assessee. The facts of the case of assessee are exactly same. However, as is evident from the above there are two views possible and there are conflicting judgments of different High Courts. As has been held

SHREE CEMENT LIMITED,BEAWAR vs. NATIONAL FACELESS ASSESSMENT CENTRE, DELHI

In the result, the appeal of the Revenue in ITA No

Bench: or at the time of hearing of this appeal.

Section 80IA(8), the word "OR" is missing in provisions of Section 80A(6) of the ACIT vs. Shree Cement Ltd. Act. It is noted that as per provisions of Section 80A(6), if any goods or services whether sold or acquired falls within the category specified domestic transactions of Section 92BA then in such case it is mandatory

SHREE CEMENT LIMITED,BEAWAR vs. NATIONAL FACELESS ASSESSMENT CENTRE, DEPUTY COMMISSIONEROF INCOME TAX, CIRCLE -2, AJMER, AJMER

In the result, the appeal of the Revenue in ITA No

Bench: or at the time of hearing of this appeal.

Section 80IA(8), the word "OR" is missing in provisions of Section 80A(6) of the ACIT vs. Shree Cement Ltd. Act. It is noted that as per provisions of Section 80A(6), if any goods or services whether sold or acquired falls within the category specified domestic transactions of Section 92BA then in such case it is mandatory

SH. NARENDAR KUMAR AGARWAL,JAWALI BHAWAN, STATION ROAD, ALWAR vs. PCIT, JAIPUR-1, JAIPUR

In the result the appeal of the assessee is allowed

capital gain assessee took cost of 1 bigha of agricultural land sold on 27.09.2011 at Rs.25,18,424/- (1/5th of Rs.1,25,92,121/-) and stamp duty at Rs.2,70,000/- (1/5th of Rs.13,50,000/- instead of 1/5th of Rs.14,07,735/-) and accordingly computed the indexed cost of acquisition. The 1 bigha agricultural land was sold for Rs.50

DEPUTY COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-3, JAIPUR vs. SHRI NIRMAK KUMAR KEDIA,, JAIPUR

In the result, appeals of the revenue are dismissed whereas the appeals of the assessee are allowed in part in terms indicated hereinabove

capital assets, therefore, whatever gain was assessable on sale of such plots is liable to be taxed under the head capital gains as against the income from business. Accordingly, the A.O. was not justified in bringing to tax such income from sale of plots held by the assessee as capital asset under the head business income. From the record

SHRI NIRMAL KUMAR KEDIA,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3, JAIPUR

In the result, appeals of the revenue are dismissed whereas the appeals of the assessee are allowed in part in terms indicated hereinabove

capital assets, therefore, whatever gain was assessable on sale of such plots is liable to be taxed under the head capital gains as against the income from business. Accordingly, the A.O. was not justified in bringing to tax such income from sale of plots held by the assessee as capital asset under the head business income. From the record

ASSISTANT COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-3, JAIPUR vs. SHRI NIRMAL KUMAR KEDIA,, JAIPUR

In the result, appeals of the revenue are dismissed whereas the appeals of the assessee are allowed in part in terms indicated hereinabove

capital assets, therefore, whatever gain was assessable on sale of such plots is liable to be taxed under the head capital gains as against the income from business. Accordingly, the A.O. was not justified in bringing to tax such income from sale of plots held by the assessee as capital asset under the head business income. From the record

SHRI NIRMAK KUMAR KEDIA,,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-3, JAIPUR

In the result, appeals of the revenue are dismissed whereas the appeals of the assessee are allowed in part in terms indicated hereinabove

capital assets, therefore, whatever gain was assessable on sale of such plots is liable to be taxed under the head capital gains as against the income from business. Accordingly, the A.O. was not justified in bringing to tax such income from sale of plots held by the assessee as capital asset under the head business income. From the record

SHRI NIRMAL KUMAR KEDIA,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3, JAIPUR

In the result, appeals of the revenue are dismissed whereas the appeals of the assessee are allowed in part in terms indicated hereinabove

capital assets, therefore, whatever gain was assessable on sale of such plots is liable to be taxed under the head capital gains as against the income from business. Accordingly, the A.O. was not justified in bringing to tax such income from sale of plots held by the assessee as capital asset under the head business income. From the record

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3, JAIPUR vs. SHRI NITIN KEDIA, JAIPUR

In the result, appeals of the revenue are dismissed whereas the appeals of the assessee are allowed in part in terms indicated hereinabove

capital assets, therefore, whatever gain was assessable on sale of such plots is liable to be taxed under the head capital gains as against the income from business. Accordingly, the A.O. was not justified in bringing to tax such income from sale of plots held by the assessee as capital asset under the head business income. From the record

DIVYANIDHI BUILDCON PRIVATE LIMITED,JAIPUR vs. DCIT CIRCLE 6, JAIPUR, JAIPUR

In the result, the appeal filed by the assessee is allowed

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

section 45(3) of the Income Tax Act. Therefore, the income earned on account of transfer of the land held as investment in the books of accounts of the assessee company has been offered under the head 'Income from capital gains' and there is no dispute on it. Apart from the above income, there is no other income from

DEPUTY COMMISSIONER OF INCOME TAX, INCOME TAX DEPARTMENT, CENTRAL CIRCLE-3 vs. M/S N. M. AGROFOOD PRODUCTS PVT. LTD., SRIGANGANAGAR

In the result the appeal of the revenue in ITA No

Section 263 of the Act were proper and legal and the Tribunal committed a serious error in reversing such decisions. Mr. Arif Ali, learned Advocate appearing for the appellant in ITAT No. 44 of 2020 (Assessee-Gupta Agarwal) submitted that the facts which have been set out in the memorandum of appeal, is wholly incorrect and does not pertain