SHRI MAHESH KUMAR JAIN,KISHANGARH vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, AJMER, AJMER

In the result, we affirm the order of the ld CIT(A) in all these cases and all these cross appeals filed by the revenue and the assessee are dismissed

capital gain and other sources. Therefore, this clearly suggests that the ld. AO was completely satisfied with manner and substantiation of the undisclosed income declared by it. Therefore, the ld. AO was incorrect in giving finding that the assessee failed to substantiate the undisclosed income. 8.4 It was further submitted that as already explained that the assessee made a surrender

SMT. INDIRA AGRAWAL,KOTA vs. DEPUTY COMMISSIONER OF INCOME TAX, KOTA

In the result, appeals of the assessee in ITA No

275 of the IT Act whereas the penalty under section 271AAB has to be imposed only when the income disclosed by the assessee falls in the ambit of undisclosed income as defined under section 271AAB of the Act. The definition of undisclosed income contemplates various forms and the primary condition is that the income of the specified previous year represented

SHRI AJAY AGARWAL,KOTA vs. DEPUTY COMMISSIONER OF INCOME TAX, KOTA

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

275 of the IT Act whereas the penalty under section 271AAB has to be imposed only when the income disclosed by the assessee falls in the ambit of undisclosed income as defined under section 271AAB of the Act. The definition of undisclosed income contemplates various forms and the primary condition is that the income of the specified previous year represented

SMT. JYOTI AGARWAL,KOTA vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOTA

In the result, appeals of the assessee in ITA nos

275 of the IT Act whereas the penalty under section 271AAB has to be imposed only when the income disclosed by the assessee falls in the ambit of undisclosed income as defined under section 271AAB of the Act. The definition of undisclosed income contemplates various forms and the primary condition is that the income of the specified previous year represented

SHRI VASUDEV AGRAWAL,KOTA vs. DEPUTY COMMISSIONER OF INCOME TAX, KOTA

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

275 of the IT Act whereas the penalty under section 271AAB has to be imposed only when the income disclosed by the assessee falls in the ambit of undisclosed income as defined under section 271AAB of the Act. The definition of undisclosed income contemplates various forms and the primary condition is that the income of the specified previous year represented

SMT. APARNA AGRAWAL,KOTA vs. DEPUTY COMMISSIONER OF INCOME TAX, KOTA

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

275 of the IT Act whereas the penalty under section 271AAB has to be imposed only when the income disclosed by the assessee falls in the ambit of undisclosed income as defined under section 271AAB of the Act. The definition of undisclosed income contemplates various forms and the primary condition is that the income of the specified previous year represented

SHRI RAJENDRA AGRAWAL,KOTA vs. DEPUTY COMMISSIONER OF INCOME TAX , KOTA

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

275 of the IT Act whereas the penalty under section 271AAB has to be imposed only when the income disclosed by the assessee falls in the ambit of undisclosed income as defined under section 271AAB of the Act. The definition of undisclosed income contemplates various forms and the primary condition is that the income of the specified previous year represented

SHRI RITESH AGARWAL,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, JAIPUR

In the result, appeal of the assessee is allowed

capital gain short term and long term both and income from other sources, apart from the surrendered income of Rs. 7,22,00,000/-. Therefore, it is clear that the assessee was not required to main the regular books of account as per section 44AA of the Act. The AO and ld. CIT (A) have proceeded on the premises that

SHRI MANOJ MOONDHRA,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, JAIPUR

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

capital gain and income from other sources during the year under consideration. There was no business income to the assessee so assessee was not required to maintain the books of accounts as per provision of section 44AA of the Income Tax Act, 1961. Hence, it cannot be said that the income offered by the assessee falls under the category

SHRI MANOJ MOONDHRA,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, JAIPUR

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

capital gain and income from other sources during the year under consideration. There was no business income to the assessee so assessee was not required to maintain the books of accounts as per provision of section 44AA of the Income Tax Act, 1961. Hence, it cannot be said that the income offered by the assessee falls under the category

SHRI SURESH CHAND MITTAL,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX , JAIPUR

In the result, appeal of the assessee is allowed

Bench: Or At The Time Of Hearing.”

capital gain and income from other sources. A search was conducted in case of Okay Plus JKD Group at the residential and business premises of the assessee group on 4th September, 2013. The assessee disclosed in the statement under section 132(4) an undisclosed income of Rs. 1,03,60,000/-. The assessee filed his return of income

SHRI MUKESH MOONDHRA,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, JAIPUR

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

capital gain and income from other sources during the year under consideration. There was no business income to the assessee so assessee was not required to maintain the books of accounts as per provision of section 44AA of the Income Tax Act, 1961. Hence, it cannot be said that the income offered by the assessee falls under the category

SHRI KRISHNA YADAV,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, JAIPUR

In the result, appeal of the assessee is allowed

Bench: Or At The Time Of Hearing.”

capital gain and civil contract work. A search was conducted on 4th /5th September, 2013 in the case of the assessee. During the course of search and seizure action, certain incriminating material were found and seized which include a black colour note book containing certain entries at pages 1 to 13. The assessee was asked to explain the entries

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

SHRI AESHWARYA JAIN,KOTA vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOTA

In the result, the appeal of the assessee is allowed

Bench: : Shri Vijay Pal Rao, Jm & Shri Vikram Singh Yadav, Am Vk;Dj Vihy La-@Ita No. 1129/Jp/2019 Fu/Kzkj.K O"Kz@Assessment Year : 2014-15 Cuke Shri Aeshwarya Jain The Dcit Vs. 65, Shopping Centre Central Circle Kota Kota Lfkk;H Ys[Kk La-@Thvkbzvkj La-@ Pan/Gir No.: Abjpj 3114 A Vihykfkhz@Appellant Izr;Fkhz@Respondent Fu/Kzkfjrh Dh Vksj Ls@ Assessee By : Shri S.L. Poddar, Advocate Jktlo Dh Vksj Ls@ Revenue By : Ms.Chanchal Meena, Jcit-Dr Lquokbz Dh Rkjh[K@ Date Of Hearing : 03/01/2020 ?Kks"K.Kk Dh Rkjh[K@ Date Of Pronouncement : 07/01/2020 Vkns'K@ Order Per Vijay Pal Rao, Jm This Appeal By The Assessee Is Directed Against The Order Dated 28-06-2019 Of Ld. Cit(A)-2, Udaipur Arising From Penalty Order Passed U/S 271Aab Of The Act For The Assessment Year 2014-15. The Assessee Has Raised The Following Grounds. ‘’1. Under The Facts & Circumstances Of The Case The Ld. Cit(A) Has Erred In Passing The Order U/S 271Aab Of The I.T. Act, 1961 Which Is Void Ab Inito Deserves To Be Quashed.

capital gain short term and long term both and income from other sources, apart from the surrendered income of Rs. 7,22,00,000/-. Therefore, it is clear that the assessee was not required to main the regular books of account as per section 44AA of the Act. The AO and ld. CIT (A) have proceeded on the premises that

VAIBHAV GLOBAL LIMITED,JAIPUR vs. DCIT, CENTRAL CIRCLE-4, JAIPUR , JAIPUR

In the result, the appeal of the assessee is allowed

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

c) ,1(d) and Profession ion is to be adjusted 3(a) in Other source Schedule. 3(a) in Other source Schedule. in the schedule. in the schedule. In In Schedule Schedule BP, BP, Sl.No.15 Sl.No.15 "Amounts debited to the profit and "Amounts debited to the profit and loss loss account, account, to to the the extent extent

RAJENDRA KUMAR GUPTA,JAIPUR vs. DCIT, JAIPUR

In the result, the appeal of the assessee is allowed

capital gains and other sources in his return of income. A search under section 132 was carried out on 31.10.2012 at various premises of Motisons Group including the residential premises of the assessee and the statement of the assessee was recorded u/s 132(4) wherein he has surrendered income to the tune of Rs 1,00,00,000/-. 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)

275 shall, as far as may be, apply in relation to the penalty referred to in this section. Explanation.—For the purposes of this section,— (a) "specified date" means the due date of furnishing of return of income under sub-section (1) of section 139 or the date on which the period specified in the notice issued 42[under section