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

270/-, after\nmaking addition u/s 68 to the tune of Rs. 9,45,817/- by treating the long term\ncapital gain [claimed exempt u/s 10(38)] as accommodation entry and thus bogus,\nand further adding an amount of Rs.18,916/- u/s 69C holding that assessee has\npaid commission for obtaining such accommodation entry. The relevant para of\norder

PAWAN GUPTA,KOTA vs. ITO WARD 1(3) KOTA , KOTA

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

capital gain.\n1.16 It is further submitted that the various observations and the conclusions drawn by the AO in\nthe assessment are based on suspicion, surmises and hearsay. It is trite law that suspicion\nhowever strong cannot partake the character of legal evidence (Lal Chand Bhagat Ambika\nRam vs. CIT 37 ITR 288 SC). The suspicion or presumption, however strong

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)

270/- made by the Assessing Officer by disallowing contribution to DAV Trust Management Society. ITAT No. 1099/JPR/2024, A.Y. 2016-17 10. By way of this appeal, department has challenged, impugned order passed by Learned CIT(A) dated 25.06.2024, whereby Learned CIT(A) deleted addition of Rs. 40,35,43,107/-, made by the Assessing Officer on account of disallowance

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)

270/- made by the Assessing Officer by disallowing contribution to DAV Trust Management Society. ITAT No. 1099/JPR/2024, A.Y. 2016-17 10. By way of this appeal, department has challenged, impugned order passed by Learned CIT(A) dated 25.06.2024, whereby Learned CIT(A) deleted addition of Rs. 40,35,43,107/-, made by the Assessing Officer on account of disallowance

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)

270/- made by the Assessing Officer by disallowing contribution to DAV Trust Management Society. ITAT No. 1099/JPR/2024, A.Y. 2016-17 10. By way of this appeal, department has challenged, impugned order passed by Learned CIT(A) dated 25.06.2024, whereby Learned CIT(A) deleted addition of Rs. 40,35,43,107/-, made by the Assessing Officer on account of disallowance

RAM SHRAN KATTA, 257, KATTA STREET, JAIN MANDIR WALI GALI, DURGAPURA, JAIPUR,JAIPUR vs. ITO WARD-6(4), JAIPUR

In the result, the appeals of the assessee are allowed

gain, whereas assessee had declared the long term capital loss of Rs. 1,79,799/- on\naccount of sale of plots. The action of the Id. CIT(A) is illegal, unjustified, arbitrary and\nagainst the facts of the case. Relief may please be granted by deleting the said addition of\nRs. 7,59,696/-and allowing the declared loss

RAM SHARAN KATTA, 257, KATTA STREET, JAIN MANDIR WALI GALI, DURGAPURA, JAIPUR,JAIPUR vs. ITO WARD-6(4), JAIPUR, WARD-6(4), JAIPUR

In the result, the appeals of the assessee are allowed

gain, whereas assessee had declared the long term capital loss of Rs. 1,79,799/-\non account of sale of plots. The action of the Id. CIT(A) is illegal, unjustified, arbitrary and\nagainst the facts of the case. Relief may please be granted by deleting the said addition of\nRs. 7,59,696/-and allowing the declared loss

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

270/- made by the Assessing Officer by disallowing contribution to\nDAV Trust Management Society.\nITAT No. 1099/JPR/2024, Α.Υ. 2016-17\n10. By way of this appeal, department has challenged, impugned order\npassed by Learned CIT(A) dated 25.06.2024, whereby Learned CIT(A)\ndeleted addition of Rs.40,35,43,107/-, made by the Assessing Officer on\naccount of disallowance

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

270/- made by the Assessing Officer by disallowing contribution to\nDAV Trust Management Society.\nITAT No. 1099/JPR/2024, Α.Υ. 2016-17\n10. By way of this appeal, department has challenged, impugned order\npassed by Learned CIT(A) dated 25.06.2024, whereby Learned CIT(A)\ndeleted addition of Rs.40,35,43,107/-, made by the Assessing Officer on\naccount of disallowance

CAREER POINT LIMITED,KOTA, RAJASTHAN vs. PRINCIPAL COMMISSIONER OF INCOME TAX, UDAIPUR, RAJASTHAN

In the result, the appeal of the assessee is allowed

Bench: HON’BLE SHRI SANDEEP GOSAIN, JM & HON’BLE SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

gain on sale of “UTI Transportation and Logistics Fund under section 10(38), and by investment of Rs 1,99,000/- which was made from owned funds as assessee was having availability of ample of owned funds. So, no borrowing cost has been incurred towards purchase of this UTI TRANSPORTATION AND LOGISTICS FUND and other investments which may generate exempt

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

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, 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

CHANDRA MOHAN BADAYA,JAIPUR vs. DCIT, CENTRAL CIRCLE-2, JAIPUR

270(2)(a) in\nmisconception of facts that the land was kept as investment and\nnot shown in stock in trade since purchases.\nThe gain on sale of other property was offered as long term\ncapital gain and considering the indexation benefit in the cost of\nacquisition the same was offered as long term capital loss

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

In the result, the appeal of the revenue stand dismissed

Capital Gains' for the purposes\nof the I.T. Act. If the said compensation amounts are received in\nrelation to agricultural property, then by virtue of the provisions of\nSection 10 (37) of the I.T. Act, the amounts would stand excluded from\nthe total income of the assessee for the purposes of the I.T. Act. As for\nthe interest amounts received

KAMLA BAI,BUNDI vs. INCOME TAX OFFICER, WARD, BUNDI

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

section 143(3) of the Income Tax Act, by ITO, Ward, Bundi. 2 Kamla Bai vs. ITO 2. In this appeal, the assessee has raised following grounds: - Ground No 1: Based on facts and circumstances of the case and in law, the AO and CIT(A) has erred in making an addition of Rs 6,37,12,270 as long