GURUVENDRA SINGH ,KOTA vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-1, KOTA, KOTA

In the result, appeal of the assessee is allowed

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

22) 1.4. The land was thereafter converted by the assessee, from being part of his Capital Asset into Stock in Trade. Gains on the sale of such stock in trade and prior to such sale i.e. gains till the date of conversion, was computed by the assessee in terms of Section

SHARAD KUMAR BHANDARI, JAIPUR,JAIPUR vs. DCIT CIRCLE (INTL TAX), JAIPUR, JAIPUR

section 153C of the Act,\nnotices was issued for A.Y. 2015-2016 to 2021-2022 on 27.03.2023 by\nld. AO which was duly served upon the assessee through e-filing portal.\nReturn of income has been filed by the assessee in response to the notice\nu/s 153C of the Act on 26.04.2023. No additional income was declared in\nthe return

DCIT,C-7, JAIPUR vs. BHARAT MOHAN RATURI, JAIPUR

In the result, the appeal of the Department is dismissed and that of the C

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;djvihy la-@ITA No. 413/JP/2022 fu/kZkj.ko"kZ@AssessmentYear :2013-14 The DCIT Circle-7 Jaipur cuke Vs. Shri Bharat Mohan Raturi 161, Indira Colony, Bani Park Jaipur 302 015 (Raj) LFkk;hys[kk la-@thvkbZvkj la-@PAN/GIR No.: AANPR 7066G vihykFkhZ@Appellant izR;FkhZ@Respondent CO No. 2/JP/2023 (Arising out of vk;djvihy la-@ITA No. 413/JP/2022 ) fu/kZkj.ko"kZ@AssessmentYear :2013-14 Shri Bharat Mohan Raturi 161, Indira

section 143(3) on 24.02.2016 at an income of Rs 18,21,680/-. It has been noticed that the assessee had sold residential plot on 27.07.2012 at a sale consideration of Rs 1,00,00,000/-. Long Term Capital Gain on sold plot was arised of Rs 94,39,201/- (Sale consideration amount Rs 1,00,00,000/- Indexed cost

KIRAN YADAV,JAIPUR vs. INCOME TAX OFFICER, WARD-1(3), JAIPUR, JAIPUR

In the result, the appeal of the assessee is partly allowed

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

section 50C to his notice. Further in the show cause notice proposed computation of capital gain was given. The assessee has requested for personal hearing on VC. However in the show cause notice it was clearly mentioned asunder: If required, after filing written reply you may request for personal hearing so as to make oral submissions or present your case

LAL CHAND MEENA ,JAIPUR vs. ITO, WARD 7-3, JAIPUR

In the result, the appeal of the assessee is partly allowed

gains. 25. In the present case, there is admittedly no registration of the transfer under Registration Act and no stamp duty has been paid. Therefore, provisions of section 50C cannot be invoked. The case is therefore, covered only under section 45(3).” 21. In light of above discussions and in the entirety of facts and circumstances of the case

PRADEEP VATRANA,ALWAR vs. DCIT, ALWAR

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

22. The provisions of Section 45(2) is a charging section for capital gains. It will apply, whenever a land

MAHAVEER YADAV,JAIPUR vs. ITO, JAIPUR

In the result, the appeal of the assessee is partly allowed for statistical purposes

capital gains, he did not apply the provisions of Section 45(2) of the Act. Therefore, the Assessing Officer should compute the business income in respect of stock-in-trade of the property, taking into consideration the provisions of section 45(2) of the Act, in accordance with law, after giving adequate opportunity of hearing to the assessee. 22

SHRI GULAB CHAND MEENA,JAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX (OSD) , 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. 49/Jp/2018 Fu/Kzkj.K O"Kz@Assessment Year :2011-12 Cuke Shri Gulab Chand Meena, A.C.I.T.(Osd), Vs. Village- Dantali, Tehsil- Range-7, Sanganer, Jaipur. Jaipur. Lfkk;H Ys[Kk La-@Thvkbzvkj La-@Pan/Gir No.: Abupm 2026 R Vihykfkhz@Appellant Izr;Fkhz@Respondent Fu/Kzkfjrh Dh Vksj Ls@ Assessee By : Shri Manish Agarwal (Ca) Jktlo Dh Vksj Ls@ Revenue By : Smt. Monisha Choudhary (Addl.Cit) Lquokbz Dh Rkjh[K@ Date Of Hearing : 11/01/2021 Mn?Kks"K.Kk Dh Rkjh[K@ Date Of Pronouncement : 28/01/2021 Vkns'K@ Order Per: Sandeep Gosain, J.M. This Is An Appeal Filed By The Assessee Against The Order Of Ld.Cit(A)- 3, Jaipur Dated 06/12/2017 For The A.Y. 2011-12 In The Matter Of Order Passed U/S 143(3) Read With Section 147 Of The Income Tax Act, 1961 (In Short, The Act), Wherein Following Grounds Have Been Taken. “1. On The Facts & The Circumstances Of The Case The Ld. Cit(A) Erred In Confirming The Disallowance Of Deduction U/S 54F Of Rs. 5,78,571/- Made By Ld.Ao Arbitrarily & Accordingly Treating It As A Long Term Capital Gain When All The Conditions Prescribed U/S 54F Were Fulfilled By Assessee. 1.1. That The Ld. Cit(A) Has Further Erred In Not Considering The Fact That Assessee Had Submitted The Valuation Report In Support Of His Claim Of 2

Section 147 of the Income Tax Act, 1961 (in short, the Act), wherein following grounds have been taken. “1. On the facts and the circumstances of the case the Ld. CIT(A) erred in confirming the disallowance of deduction u/s 54F of Rs. 5,78,571/- made by ld.AO arbitrarily and accordingly treating it as a long term capital gain

SMT. RENU JAIN,NEW DELHI vs. ITO, WARD 5(2), JAIPUR

In the result, the matter is decided in favour of the assessee and against the Revenue and the sole ground of appeal is allowed

22,50,000/- under capital gain account scheme on 03.12.2011 after due date of filing of return of income i.e, 31.07.2011, therefore, the income of the assessee has escaped assessment within the meaning of section

SITA DEVI AGARWAL,JAIPUR vs. ITO, WD-4(1), JAIPUR

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

22-09-2019. However, on change of incumbent, fresh notices u/s 143(2), 142(1) and questionnaire were issued on 15-06-2016. In compliance of the notices, the Advocate of the assessee appeared from time to time and furnished desired details before the AO. The AO noted that during the year under consideration, the assessee has shown interest income

SHRI DHARMENDRA KUMAR PAREEK,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-2, JAIPUR

In the result, appeal of the assessee is allowed

gains. The reference is, accordingly, answered in favour of the assessee and against the Revenue. No order as to costs.” Thus the Hon’ble High Court has held that if the prices of two capital assets have been charged at consolidated price then the assessee is entitled to bifurcate the same. In the case in hand, we find that

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)

22 months]. Consequent long term capital gain of Rs. 29,71,725/- earned from sale of these shares was declared in the return of income and as shares were of listed public limited company, sold through recognized stock exchange after holding for a period of more than one year and due STT [Securities Transaction Tax] was paid, long term capital

CHANDRA PRAKASH JAIN,JAIPUR vs. CIRCLE 1, JPR, JAIPUR

In the result, ground raised by the assessee is partly allowed

Bench: Shri Gagan Goyal & Shri Narinder Kumar

Section 10(38)) o Short-Term Capital Loss (STCL): " Sale: Rs. 48,87,600/- " Purchase: Rs. 48,90,900/- " Loss: Rs. 3,300/- Thus, the net capital gain should be Rs. 83, 22

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

22 months]. Consequent long term capital gain of Rs. 30,04,864/- earned from sale of these shares was declared in the return of income and as shares were of listed public limited company, sold through recognized stock exchange after holding for a period of more than one year and due STT [Securities Transaction Tax] was paid, long term capital

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)

22,640/- 570000*1081/389= Rs. 15,83,985/- Long term capital gain Rs. 27,01,95,945/- From the above discussion, it is clear that the assessee has earned long term capital gain during the year under consideration but the same was not disclosed by the assessee in its return of income, therefore, the same is hereby added

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)

22,640/- 570000*1081/389= Rs. 15,83,985/- Long term capital gain Rs. 27,01,95,945/- From the above discussion, it is clear that the assessee has earned long term capital gain during the year under consideration but the same was not disclosed by the assessee in its return of income, therefore, the same is hereby added

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)

22,640/- 570000*1081/389= Rs. 15,83,985/- Long term capital gain Rs. 27,01,95,945/- From the above discussion, it is clear that the assessee has earned long term capital gain during the year under consideration but the same was not disclosed by the assessee in its return of income, therefore, the same is hereby added

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)

22,640/- 570000*1081/389= Rs. 15,83,985/- Long term capital gain Rs. 27,01,95,945/- From the above discussion, it is clear that the assessee has earned long term capital gain during the year under consideration but the same was not disclosed by the assessee in its return of income, therefore, the same is hereby added