ASSISTANT COMMISSIONER OF INCOME TAX , CIRCLE-2, JAIPUR vs. M/S. ANGEL INFRASTRUCTURE PRIVATE LIMITED, JAIPUR

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

248 ITR 232 and submitted that the Hon'ble Supreme Court has held that the definition ‘transfer’ as per Section 2(47) of the Act contemplates the extinguishment of rights in a capital asset distinct and independent of such extinguishment consequent upon the transfer thereof. Thus, once the assessee has transferred its right in shares of M/s HH Interior

RAKESH KUMAR JAIN,JAIPUR vs. DCIT,CIRCLE-2, JAIPUR, JAIPUR

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

Bench: Or At The Time Of Hearing Of The Appeal & / Or Modify Any Of The Above Grounds.

capital gain Rs.1,14,75,791/-, Gross Total Income Rs.1,15,64,875/- Less: Deduction under Chapter VI-A Rs. 89,084/- Restricted to Income other than LTCG –Total Income Rs. 1,14,75,791/-, R/o Rs.1,14,75,790/- Assessed u/s 143(3) of the I.T. Act at Rs.1,14,75,790/-. Issue demand notice and challan. Charged interest

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

VIPUL KUMAR MODI ,JAIPUR vs. PRINCIPAL COMMISSIONER OF INCOME TAX, JAIPUR -I

In the result, appeal of the assessee is allowed

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

capital gain claimed by the assessee on shares of this company. It is noted that the AO made queries regarding slump sale ie. transfer of undertakings, purchase cost of undertakings, sale consideration undertakings, valuations of undertakings, details of calculation of net worth of undertakings. Form 3CA report of accountant in respect of slum sale etc. From this it is clear

SH. DAL CHAND SHARMA,ALWAR vs. ITO, WARD-1(2), ALWAR, ALWAR

Capital Gain of Rs. 62,00,000/- is made,\nhowever the assessee sold the said Property for Rs. 31,00,000/-\nonly. As per assessment order the Id. AO has reopened the case\nunder section 148 on dated 27.03 2022 information fagged by the\nrisk management strategy formulated in this regard suggesting that\nincome chargeable to tax has escaped assessment

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 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

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

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 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

MUSTAFA KATTHAWALA,KOTA vs. DCIT ACIT, CIRCLE-2, KOTA, KOTA

In the result, the appeal of the assessee is allowed for\nstatistical purposes

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI, AM\nआयकर अपील सं./ITA. No. 1156/JPR/2024\nनिर्धारण वर्ष / Assessment Years : 2015-16\nMustafa Katthawala\nProp. Shakti Steels, Near Reliance\nPetrol Pump Jhalawar Road, IPIA\nKota.-324005.\nबनाम | The DCIT/ACIT,\nVs.\nCircle-2,\nKota.\nस्थायी लेखा सं./ जीआईआर सं./PAN/GIR No.: AGPPK5043C\nअपीलार्थी / Appellant\nप्रत्यर्थी / Respondent\nनिर्धारिती की ओर से / Assessee by :Shri Devang Gargieya, Adv.\nराजस्व की ओर से / Reven

section 147 r.w.s.\n144 r.w.s.144B of the Income Tax Act, 1961 (for short Act).\n2.\nThe assessee has raised the following grounds: \n“1. 1. The impugned additions and disallowances made in the order u/s\n147 r.w.s 144 dated 31.03.2023 are bad in law and on facts of the\ncase, for want of jurisdiction and various other reasons and hence

SANJAY KUMAR KARNANI,JAIPUR vs. ACIT, CENTRAL CIRCLE-3, JAIPUR, JAIPUR

In the result, all appeals of the assessee are disposed off in terms of

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

gains, nor is it income from 'other sources' because the provisions of sections 69, 69A, 69B, and 69C treat unexplained investments, unexplained money, bullion, etc., and unexplained expenditure as deemed income where the nature and source of investment, acquisition or expenditure, as the case may be, have not been explained or satisfactorily explained. Therefore, in these cases, the source

SHRI AMBICA GARMENTS, JODHPUR,JODHPUR vs. ACIT, CENTAL CIRCLE-3, JAIPUR, JAIPUR

In the result, all appeals of the assessee are disposed off in terms of

gains, nor is it income from 'other sources' because the provisions of sections 69, 69A, 69B, and 69C treat unexplained investments, unexplained money, bullion, etc., and unexplained expenditure as deemed income where the nature and source of investment, acquisition or expenditure, as the case may be, have not been explained or satisfactorily explained. Therefore, in these cases, the source

SHRI AMBICA GARMENTS, JODHPUR,JODHPUR vs. ACIT, CENTAL CIRCLE-3, JAIPUR, JODHPUR

In the result, all appeals of the assessee are disposed off in terms of

gains, nor is it income from 'other sources' because the provisions of sections 69, 69A, 69B, and 69C treat unexplained investments, unexplained money, bullion, etc., and unexplained expenditure as deemed income where the nature and source of investment, acquisition or expenditure, as the case may be, have not been explained or satisfactorily explained. Therefore, in these cases, the source

SANJAY KUMAR KARNANI,JAIPUR vs. ACIT, CENTRAL CIRCLE-3, JAIPUR, JAIPUR

In the result, all appeals of the assessee are disposed off in terms of

Bench: AO on 12-04-2021 18. Reply filed before AO on 15-07-2021 19. Additional Written Submissions filed before CIT(A) for AY 2014-15 on 11-11-2024 20. Written Submissions filed before CIT(A) for AY 2014-15 21. Written Submissions filed before CIT(A) for AY 2015-16 on 10-10-2024 22. Written Submissions filed before CIT(A) for AY 2016-17 on 10-10-2024 23. Written Submissions filed before CIT(A) for AY 2017-18 on 15-10-2024 24. Written Submissions filed before CIT(A) for AY 2018-19 on 15-10-2024 25.

gains, nor is it income from 'other sources' because the provisions of sections 69, 69A, 69B, and 69C treat unexplained investments, unexplained money, bullion, etc., and unexplained expenditure as deemed income where the nature and source of investment, acquisition or expenditure, as the case may be, have not been explained or satisfactorily explained. Therefore, in these cases, the source

SHRI AMBICA GARMENTS, JODHPUR,JODHPUR vs. ACIT, CENTRAL CIRCLE-3, JAIPUR, JAIPUR

In the result, all appeals of the assessee are disposed off in terms of

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

gains, nor is it income from 'other sources' because the provisions of sections 69, 69A, 69B, and 69C treat unexplained investments, unexplained money, bullion, etc., and unexplained expenditure as deemed income where the nature and source of investment, acquisition or expenditure, as the case may be, have not been explained or satisfactorily explained. Therefore, in these cases, the source