INDIRA GIRI,JAIPUR vs. ASSESSING OFFICER, INCOME TAX DEPARMENT JAIPUR

The appeal of the assessee is allowed

Bench: The Due Date Of Furnishing Itr, Therefore Deposit In Capital Gain Account For Compliance U/S 54(2) Was Impossible On The Part Of The Assessee.

2 years. Booking agreement has been entered within 3 years, hence the construction is complete. ii) Entire capital gain amount has been kept in savings bank account and had not been utilized for any other purposes. Hence, not depositing under CGAS is only a technical defect as the entire amount has been invested in the new asset. 4. DCIT

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3, JAIPUR vs. M/S VISION ESTATES PVT. LTD., JAIPUR

In the result, the appeals of the revenue stands dismissed

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

capital gain in case of compulsory acquisition of land which is applicable in this case. Hence, the assessee’s theory of ‘shifting of land’ is nowhere described nor application in case in view of the facts as narrated above. 2. The compensation received on A plain reading of section 10(37

DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-3, JAIPUR vs. M/S CHOKHI DHANI DEVELOPERS PVT. LTD., JAIPUR

In the result, the appeals of the revenue stands dismissed

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

capital gain in case of compulsory acquisition of land which is applicable in this case. Hence, the assessee’s theory of ‘shifting of land’ is nowhere described nor application in case in view of the facts as narrated above. 2. The compensation received on A plain reading of section 10(37

DEPUTY COMMISSINER OF INCOME TAX, LIC BUILDING vs. M/S GEE VEE DEVELOPERS PVT. LTD., JAIPUR

In the result, the appeals of the revenue stands dismissed

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

capital gain in case of compulsory acquisition of land which is applicable in this case. Hence, the assessee’s theory of ‘shifting of land’ is nowhere described nor application in case in view of the facts as narrated above. 2. The compensation received on A plain reading of section 10(37

DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-3, JAIPUR vs. M/S RIGID CONDUCTORS (RAJ.) PVT. LTD., JAIPUR

In the result, the appeals of the revenue stands dismissed

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

capital gain in case of compulsory acquisition of land which is applicable in this case. Hence, the assessee’s theory of ‘shifting of land’ is nowhere described nor application in case in view of the facts as narrated above. 2. The compensation received on A plain reading of section 10(37

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

2 of the assessee, it is noticed that the Id\nCIT(A) has dismissed the appeal of the assessee by observing at para 3.1\nto para 5.3 of his order as under:-\n\"3.1 Commission Paid on Bogus LTCG entries.\nDuring the course of investigation, it was also emerged that the syndicate of\nentry providers charged commission from the beneficiaries

FEDERATION OF RAJASTHAN TRADE AND INDUSTRY,JAIPUR vs. ITO-EXEMPTION WARD-2, JAIPUR

In the result, the appeal filed by the assessee is allowed for statistical purposes

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

2) the assessee has option to take either cost or fair market value; (ii) assessee has taken fair market value as cost of acquisition. It is a measure of inflation that finds application in tax law, when computing long term capital gains on sale of assets. Section 48 of the income tax Act defines the index as what is notified

BHARATPUR ROYAL FAMILY RELIGIOUS & CEREMONIAL TRUST,BHARATPUR vs. CIT(E), JAIPUR

In the result, we upheld the order of the ld PCIT in exercise of his powers u/s 263 in setting aside the order so passed by the AO and the grounds of appeal taken by the assessee are hereby dismissed

gains falling within the following classes shall not be included in the total income of the person receiving them: 22 Bharatpur Royal Family Religious & Ceremonial Trust Moti Mahal, Bharatpur Vs. CIT(E), Jaipur (i) Subject to the provisions of clause (c) of sub-section (1) of section 16, any income derived from property held under trust or other legal obligation

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2, KOTA, KOTA vs. CHAMBAL FERTILIZERS AND CHEMICALS LTD., KOTA

Bench: SHRI GAGAN GOYAL (Accountant Member), SHRI NARINDER KUMAR (Judicial Member)

Section 28 pertains to computation of profits and gains of business or profession and postulates to which income shall be chargeable to income tax under the said head. 31. In this way, in computation the income under the said head deduction of the amount of interest paid by the assessee in respect of capital borrowed is to be allowed, where

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2, KOTA, KOTA vs. CHAMBAL FERTILIZERS AND CHEMICALS LTD, KOTA

Bench: SHRI GAGAN GOYAL (Accountant Member), SHRI NARINDER KUMAR (Judicial Member)

Section 28 pertains to computation of profits and gains of business or profession and postulates to which income shall be chargeable to income tax under the said head. 31. In this way, in computation the income under the said head deduction of the amount of interest paid by the assessee in respect of capital borrowed is to be allowed, where

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2, KOTA, KOTA vs. CHAMBAL FERTILIZERS AND CHEMICALS LTD, KOTA

Bench: SHRI GAGAN GOYAL (Accountant Member), SHRI NARINDER KUMAR (Judicial Member)

Section 28 pertains to computation of profits and gains of business or profession and postulates to which income shall be chargeable to income tax under the said head. 31. In this way, in computation the income under the said head deduction of the amount of interest paid by the assessee in respect of capital borrowed is to be allowed, where

SHRI KRISHNARAJ BUILDHOME PVT LTD,JAIPUR vs. INCOME TAX OFFICER, JAIPUR

gains from transfer of such\nasset, be deemed to be the full value of the consideration received or accruing\nas a result of such transfer.\n(2) The provisions of sub-section (2) and sub-section (3) of section 50C shall,\nso far as may be, apply in relation to determination of the value adopted or\nassessed or assessable under

SUPREME BUILDESTATES PVT LTD,MADANGANJ- KISHANGARH vs. DCIT CIRCLE 2 AJMER, JAIPUR ROAD AJMER

In the result, appeal of the assessee is allowed

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

2 to section 37(1) of the Income-tax Act, 1961 at the time of filing return of income. Further, the appellant had claimed a deduction of Rs.17,16,540/- (50% of 10% of Adjusted Gross Total Income other than Long Term Capital Gain

DEPUTY COMMISSIONER OF INCOME TAX, ALWAR vs. ASHOK SHARMA, REWARI

In the result, the appeal of the revenue stand dismissed

capital gains' and\nconsequently would also get benefit of section 10(37) if land\ncompulsorily acquired was agricultural land Held, yes Whether\nfurther, since interest amounts so received were not in nature of\ninterest as defined under section 2

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)

capital gain declared by assessee is completely genuine: ARNAV GOYAL VS ITO, WARD 2(4), JAIPUR It is submitted that the transactions of purchase and sale of shares by the assessee are completely genuine and duly supported by respective evidences and thus, could not have been held as bogus in view of the following: 1. The assessee had purchased

SH. KESAR LAL BAIRWA,A-24, VARUN COLONY, MANDARA STAND, NEW SANGANER ROAD, MANSAROVAR, JAIPUR vs. ITO, WARD-2(4), JAIPUR

In the result, appeal of the assessee is dismissed

Bench: HON’BLE SHRI SANDEEP GOSAIN (Judicial Member)

37) thereof deals with capital gains arising from transfer of agricultural land, it no where provides as to what is to be included under the head "Capital gains". The argument raised is not well founded. 11. Learned counsel has relied on Circular No. 5 of 2010 by merely reading clause 46.1. The said clause talks about undue hardship being caused

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2, KOTA, KOTA vs. CHAMBAL FERTILIZERS AND CHEMICALS LTD, KOTA

gains of business or profession and postulates to which income\nshall be chargeable to income tax under the said head.\n31. In this way, in computation the income under the said head deduction\nof the amount of interest paid by the assessee in respect of capital\nborrowed is to be allowed, where the capital was borrowed for the purpose

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2, KOTA, KOTA vs. CHAMBAL FERTILIZERS AND CHEMICALS LTD., KOTA

gains of business or profession and postulates to which income\nshall be chargeable to income tax under the said head.\n31. In this way, in computation the income under the said head deduction\nof the amount of interest paid by the assessee in respect of capital\nborrowed is to be allowed, where the capital was borrowed for the purpose

M/S WHOLESALE CLOTH MERCHANT,KOTA vs. PR. COMMISSIONER OF INCOME TAX (CENTRAL), RAJASTHAN, JAIPUR

In the result, appeal of the assessee is allowed

Bench: Shri Sandeep Gosain, Jm & Shri Vikram Singh Yadav, Am Vk;Dj Vihy La-@Ita No. 688/Jp/2019 Assessment Year: ………………………… M/S Wholesale Cloth Merchant Cuke Pr.C.I.T. (Central), Vs. Association, Jaipur (Rajasthan) New Cloth Market, Kota. Pan No.: Aaatw 0127 C Vihykfkhz@Appellant Izr;Fkhz@Respondent Fu/Kzkfjrh Dh Vksj Ls@ Assessee By : Shri Siddarth Ranka & Shri Shravan Kr. Gupta (Advs) Jktlo Dh Vksj Ls@ Revenue By : Shri Ambrish Bedi (Cit-Dr) Lquokbz Dh Rkjh[K@ Date Of Hearing : 14/10/2020 Mn?Kks"K.Kk Dh Rkjh[K@ Date Of Pronouncement : 06/01/2021 Vkns'K@ Order Per: Sandeep Gosain, J.M. The Present Appeal Has Been Filed By The Assessee Against The Order Of The Ld. Pr.Cit(Central), Rajasthan, Jaipur Dated 22/03/2019 Passed U/S 12Aa(3) & 12Aa(4) Of The Income Tax Act, 1961 (In Short, The Act). Following Grounds Have Been Taken By The Assessee: “1. That In The Facts & In The Circumstances Of The Case & In Law, The Ld Pr. Cit(Central), Rajasthan, Jaipur Has Grossly Erred In Cancelling The Registration Of The Assessee Appellant Trust Under Section 12A Of The Act By Invoking Section 12Aa(4) Of The Act W.E.F. 01/04/2013. 2. The Appellant Craves Leave To Add, Alter, Modify Or Amend Any Ground On Or Before The Date Of Hearing.”

37 ITA 688/JP/2019_ M/s Wholesale Cloth Merchant Association Vs Pr.CIT which case of assessee was transferred to DCIT—Held, in Noorul Islam Educational Trust it was held that as Income-tax/assessment file of assessee had been transferred from one AO in Tamil Nadu to another AO in Kerala and two AO were not subordinate to same Director General