PREM PRAKASH AGARWAL,NAYA BAZAR AJMER vs. DCIT CENTRAL CIRCLE AJMER, JAIPUR ROAD AJMER

In the result, three appeals of the assessee are allowed

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

270A or clause (c) of sub- section (1) of section 271 shall be imposed upon the assessee in respect of the undisclosed income referred to in sub-section (1) or sub-section (1A). (3) The provisions of sections 274 and 275 shall, as far as may be, apply in relation to the penalty referred to in this section. Explanation

AJMER INDUSTRIES LLP,NAYA BAZAR AJMER vs. DCIT CENTRAL CIRCLE AJMER, JAIPUR ROAD AJMER

In the result, three appeals of the assessee are allowed

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

270A or clause (c) of sub- section (1) of section 271 shall be imposed upon the assessee in respect of the undisclosed income referred to in sub-section (1) or sub-section (1A). (3) The provisions of sections 274 and 275 shall, as far as may be, apply in relation to the penalty referred to in this section. Explanation

PREM PRAKASH AGARWAL,NAYA BAZAR AJMER vs. DCIT CENTRAL CIRCLE AJMER, JAIPUR ROAD AJMER

In the result, three appeals of the assessee are allowed

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

270A or clause (c) of sub- section (1) of section 271 shall be imposed upon the assessee in respect of the undisclosed income referred to in sub-section (1) or sub-section (1A). (3) The provisions of sections 274 and 275 shall, as far as may be, apply in relation to the penalty referred to in this section. Explanation

DCIT CENTRAL CIRCLE AJMER, AJMER vs. YASHWANT KUMAR SHARMA, AJMER

In the result, the appeal of the revenue is dismissed and the cross

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;dj vihy la-@ITA No. 210/JP/2023 fu/kZkj.k o"kZ@Assessment Years : 2020-21 DCIT, Central Circle, Ajmer cuke Vs. Yashwant Kumar Sharma F-108, Industrial Area, Makhupura Parbatpura, Ajmer LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: ASWPS 3791 E vihykFkhZ@Appellant izR;FkhZ@Respondent vk;dj vihy la-@C.O. No. 04/JP/2023 (Arising out of ITA Nos. 210/JP/2023) fu/kZkj.k o"kZ@Assessment Years : 2020-21 Yashwant Kumar Sharma

capital gain on sale of shares of company 'N'. During assessment proceedings, the assessee was 13 ITA Nos. 210/JP/2023 & CO No. 04/JP/2023 DCIT, Ajmer vs. Yashwant Kumar Sharma required to furnish name of stock exchange through which shares were purchased and sold along with the rate of shares of the stock exchange on date of purchase and sale. The assessee

R P WOOD PRODUCTS PVT LTD ,NAYA BAZAR AJMER vs. DCIT CENTRAL CIRCLE AJMER, JAIPUR ROAD AJMER

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

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

270A or clause (c) of sub- section (1) of section 271 shall be imposed upon the assessee in respect of the undisclosed income referred to in sub-section (1) or sub-section (1A). (3) The provisions of sections 274 and 275 shall, as far as may be, apply in relation to the penalty referred to in this section. Explanation

JOINT COMMISSIONER OF INCOME TAX, AJMER vs. M/S R.P.WOOD PRODUCTS PVT. LTD., , AJMER

In the result, appeal of the assessee is allowed

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

270A or clause (c) of sub-section (1) of section 271 shall be imposed upon the assessee in respect of the undisclosed income referred to in sub-section (1) or sub-section (1A). (3) The provisions of sections 274 and 275 shall, as far as may be, apply in relation to the penalty referred to in this section. Explanation

NARAIN LAL AGRAWAL,JAIPUR vs. DCIT CIRCLE 1 JAIPUR, JAIPUR

In the result the appeal of the assessee is allowed

Capital Gain and other sources.\nReturn of Income for the year under appeal was filed by assessee on\n13.02.2021, declaring total income of Rs.1,19,33,590/-. After filling the said\nreturn of income by the assessee the case of the assessee was selected\nfor Limited Scrutiny assessment under the E-assessment Scheme, 2019\non the issue of “Purchase value

KATRATHAL GRAM SEWA SAHKARI SAMITI LIMITED ,KATRATHAL vs. ITO WARD 1 SIKAR, SIKAR

capital gains were\r\nnot treated to be genuine, AO also rejected claim of assessee for exemption u/s\r\n54F—CIT(A) held that, rejection of claim of exemption u/s 54F by AO, was in\r\norder-Held, section 54F, neither provided as pre-condition requirement of filing\r\nof 'return of income' by assessee within stipulated time period

BITTHAL DAS PARWAL,JAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-3, JAIPUR

In the result,the appeals of the assessee are dismissed

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

capital gain and other sources. A search u/s 132 took place on 07-01-2016in the case of Dilip Maihar Group in which assessee was also covered. The assessment u/s 143 (3) r.w.s. 153B (1) (b) of I. T. Act, 1961 was completed on 29-12-2017. Action of Ld. A.O. The Ld. A.O. in the assessment order initiated

HARI NARAIN PARWAL,JAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3, JAIPUR

In the result,the appeals of the assessee are dismissed

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

capital gain and other sources. A search u/s 132 took place on 07-01-2016in the case of Dilip Maihar Group in which assessee was also covered. The assessment u/s 143 (3) r.w.s. 153B (1) (b) of I. T. Act, 1961 was completed on 29-12-2017. Action of Ld. A.O. The Ld. A.O. in the assessment order initiated

INCOME TAX OFFICER, WARD-6(2), JAIPUR, NCR BUILDING, STATUE CIRCLE JAIPUR vs. VASUDEV HEMRAJANI, ARJUN NAGAR, JAIPUR

The appeal of the revenue stands dismissed

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

capital gain on 31,565/- earned on sale of mutual funds. The assessee has further claimed deduction under chapter VI-A of the Act to the extent of Rs.2,40,698/- thereby declaring net taxable income at Rs. 15,53,040/-. 3.1 From the information available on record, one of the reasons for selection of the case of the assessee

SUNIL KUMAR AGARWAL,JAIPUR vs. ACIT, CEN. CIR-2, JAIPUR

In the result the appeal of the assessee in ITA no

3 , 6, 20 & 26. However, the perusal of the statement of Shri Nikhil Kr.Goyal reveals that in the entire statement, Shri Nikhil Kumar Goyal has no where alleged that he made any unaccounted purchases from the assessee. He also expressed his inability in furnishing the addresses of the persons appearing in the loose papers on the ground that these papers

AJAY BAKLIWAL,KOTA vs. ACIT, CENTRAL CIRCLE, KOTA, KOTA

In the result, the appeal of the assessee is allowed

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

270A of the Act for under reporting of income and thereby completed the assessment determining the total income at Rs. 3,87,72,400/-. u/s. 143(3) r.w.s. 153A of the Act. 3. Aggrieved from the order of Assessing Officer, assessee preferred an appeal before the ld. CIT(A). Apropos to the grounds so raised the relevant finding

SUNIL CHABLANI,AJMER, RAJASTHAN vs. CIRCLE (INTL TAX), JAIPUR, JAIPUR, RAJASTHAN

Capital Gain in the hands of the assessee. Penalty proceedings\nu/s 270A of the Act is initiated on this issue for underreporting of income.\nFurther, the assessee has purchased an immovable property i.e. Flat no. A-1001,\nA Wing, Priyanka Blossom Apartment, Nashik on 31.05.2018 at the consideration\nof Rs.38,20,000/- (stamp value) and claimed the deduction

SANDEEP SETHI ,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX,CENTRAL CIRCLE-1,JAIPUR, JAIPUR

In the result, both the appeals of the assessee are allowed

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

capital gains etc. II. Search and seizure operation, under section 132(1), of the Income Tax Act, 1961 (“ITA”) was carried out on 21.07.2016at the business and residential premises of the assessee.(AO Order Page 1) III. For the relevant previous year, assessee furnished his return of income on 31.10.2017, declaring total income

RAJIV NIGOTIYA,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX,CENTRAL CIRCLE-1, JAIPUR

In the result, both the appeals of the assessee are allowed

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

capital gains etc. II. Search and seizure operation, under section 132(1), of the Income Tax Act, 1961 (“ITA”) was carried out on 21.07.2016at the business and residential premises of the assessee.(AO Order Page 1) III. For the relevant previous year, assessee furnished his return of income on 31.10.2017, declaring total income

VAIBHAV GLOBAL LIMITED,JAIPUR vs. DCIT, CC-4, JAIPUR

270A of the Act for alleged under reporting of income. \n\n5. The appellant craves your Honors indulgence to add, amend or alter all or any \nGround of Appeal before or at the time of hearing. \n\n2.3 Since these detailed issue wise grounds is taken by the assessee we \ndeal with those grounds one by one. First, we will

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

270A of the\nAct and assessment order by hand through verification unit Jaipur\nvide letter 27.07.2023, address on notice was of property which\nwas already sold by the assessee, as per assessment order\naddition of Short term Capital Gain of Rs. 62,00,000/- is made,\nhowever the assessee sold the said Property for Rs. 31,00,000/-\nonly