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)

capital gain is chargeable on its compulsory acquisition. 2. The appellant Pvt. Ltd. company before submitting the ground- wise submissions, the appellant submits the following undisputed facts of the case:– (i) That during the course of search and seizure action carried under section 132 of the IT Act by the Department no incriminating document was found and/or seized

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)

capital gain is chargeable on its compulsory acquisition. 2. The appellant Pvt. Ltd. company before submitting the ground- wise submissions, the appellant submits the following undisputed facts of the case:– (i) That during the course of search and seizure action carried under section 132 of the IT Act by the Department no incriminating document was found and/or seized

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)

capital gain is chargeable on its compulsory acquisition. 2. The appellant Pvt. Ltd. company before submitting the ground- wise submissions, the appellant submits the following undisputed facts of the case:– (i) That during the course of search and seizure action carried under section 132 of the IT Act by the Department no incriminating document was found and/or seized

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)

capital gain is chargeable on its compulsory acquisition. 2. The appellant Pvt. Ltd. company before submitting the ground- wise submissions, the appellant submits the following undisputed facts of the case:– (i) That during the course of search and seizure action carried under section 132 of the IT Act by the Department no incriminating document was found and/or seized

HARISH SHARMA HUF,B-1, PATODIYA MARG, SHASTRI NAGAR, JAIPUR vs. ITO, WARD-5(3), JAIPUR

In the result the appeal of the assessee is dismissed

gain of Rs.49,90,000/- In his bank account there would be a cheque deposit of Rs. 50,00,000/- paid by the paper company that buys the share. The receipt is prima facie exempt from tax under section 10(38) of the Income tax Act, 1961. The Directorate of Investigation, Kolkata investigated transactions in 84 such penny stock shares

SAJJAD ALI,CHITTORGARH vs. DCIT(INTL)- JAIPUR, JAIPUR

Bench: SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member), SHRI NARINDER KUMAR (Judicial Member)

gain from sale of flat—Assessee has reflected that same in its capital account—Further in response to letter issued by AO during assessment proceedings, assessee submitted his reply explaining reason for increase in capital—However, Pr. CIT exercising jurisdiction under section 263, directed AO to make fresh assessment on issues which were not subject matter of limited scrutiny—Since

ITO, WARD-1, BHARATPUR vs. SHRI MADAN LAL SHARMA, JAIPUR

In the result, appeal filed by the revenue is allowed statistically and

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

Capital Gains, eligible to tax, in the hands of the assessee. 3.3. Even ld. AO, in his remand report, submitted to the ld. CIT(A) accepted the fact that the property was never transferred to the assessee. In this regard, the remand report of the ld. AO, reproduced by the ld. CIT(A) at Page 5-6 of his order

SHRI MADAN LAL SHARMA,JAIPUR vs. ITO, WARD-1, , BHARATPUR

In the result, appeal filed by the revenue is allowed statistically and

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

Capital Gains, eligible to tax, in the hands of the assessee. 3.3. Even ld. AO, in his remand report, submitted to the ld. CIT(A) accepted the fact that the property was never transferred to the assessee. In this regard, the remand report of the ld. AO, reproduced by the ld. CIT(A) at Page 5-6 of his order

JAGDISH KUMAR ARORA,BHAWANIMANDI vs. DCIT, CENTRAL CIRCLE- KOTA, KOTA

In the result, the appeal of the assessee is allowed

Bench: SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member), SHRI NARINDER KUMAR (Judicial Member)

section 69 cannot be invoked and the sundry debtors has to be treated as business or profession income of the assessee. Admittedly, in the present case, no existence of evidence in relation to any unaccounted independent identifiable other investment which was found during the course of survey. It is also admitted fact the appellant admittedly is engaged in business from

SMT. MANJU AGRAWAL,BHARTPUR vs. ITO, BHARTPUR

In the result, the ground no

Bench: Hon’ble SHRI SANDEEP GOSAIN (Judicial Member)

Capital Gain earn from such scrip? As laid down by the Hon'ble Apex Court, apparent must be considered real until it is shown that there are reasons to believe that the apparent is not the real and that there are reasons to believe that the apparent is not the real and that the taxing authorities are entitled to look

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

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

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 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

ASHUTOSH BHARGAVA,JAIPUR vs. PR.CIT-2, JAIPUR

In the result, this appeal of the assessee is allowed

gain from sale of flat—Assessee has reflected that same in its capital account—Further in response to letter issued by AO during assessment proceedings, assessee submitted his reply explaining reason for increase in capital—However, Pr. CIT exercising jurisdiction under section 263, directed AO to make fresh assessment on issues which were not subject matter of limited scrutiny—Since

KAMAKSHI HOSPITALITY PVT. LTD.,JAIPUR vs. DCIT, JAIPUR

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

276 (Lahore High Court ) Doddamallappa v. Gangappa AIR 1962 Mysore 44 (Mysore High Court) Leelamma Ambikakumari and another Vs. Oral Evidence is not Narayanan Ramakrishnan Section 91 and 92 - Indian admissible against 17-18 2 AIR 1992 Kerala 115 (Kerala High Court) Evidence Act, 1872 Registered Sale Deed. Febril Gasosa vs. Labour Commissioner and others AIR 1997 (S.C.) 954 Paramjit

MACRO PROPRIETIES PRIVATE LIMITED,M 28 INCOME TAX COLONY TONK ROAD JAIPUR vs. DCIT CENTRAL CIRCLE 2, LIC BUILDING JAIPUR

In the result, the appeals of the assessee are allowed

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;djvihy la-@ITA No.174 TO 177/JP/2023 fu/kZkj.ko"kZ@AssessmentYear : 2013-14 TO 2016-17 M/s. Macro Properties Pvt. Ltd.M-28, Income Tax Colony, Tonk Road Jaipur cuke Vs. The DCIT Central Circle-2 LIC Building, Jaipur LFkk;hys[kk la-@thvkbZvkj la-@PAN/GIR No.: AAFCM 3633 D vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksjls@Assesseeby : Shri C.M. Agarwal, CA jktLo dh vksjls@Revenue by: Shri JameshKurian, CI

section 153C of the Act qua the necessity to establish the correlation the document wise with the assessment eyars in question was considered by the Hon’ble Supreme Court in the case of CIT-III, Pune Vs Singhad Technical Education Society (reported in (2017) 84 Taxmann.com 290} … Para 10- The Tribunal further noted that the said Mr T John Rajasekhar