JUHI BHANDARI, JAIPUR,JAIPUR vs. DCIT CIRCLE (INTL TAX), JAIPUR, JAIPUR

In the result, both appeals of the assessee are allowed

282 Sharad Kumar Dhandari\nSBBJ Capital Gain A/c No. 61187164085\n8-Jul-14\n539,300 Sharad Kumar Bhandari\nSBBJ Capital Gain A/c No. 61187164085\n12-Mar-15\n7,715,620 Sharad Kumar Bhandari\nSBBJ Capital Gain Vo No. 61192561563\n26-Dec-13\n539,281\nJuhi Bhandari\nSBBJ Capital Gain A/c No.61192561563\n8-Jul-14\n539,300\nJuhi Bhandari\nSBBJ Capital

PRAKASH PANDHARINATH BAKRE,INDORE vs. PR.CIT-1, JAIPUR

In the result, the appeal of the assessee is allowed

Capital Gains” and Tax Credit mismatch were identified for examination. It was submitted that the assessee claimed deduction u/s 54 by selling a house property and by making investment in another house property. The assessee, before ld. AO, duly placed on record the following documents vide reply to ld. AO dated 26.09.2016: 3 Prakash Pandharinath Bakre, Jaipur

PINKCITY JEWELHOUSE PVT LTD. 76, DHULESHWAR GARDEN, JAIPUR,JAIPUR vs. DCIT, CIRCLE-2, JAIPUR, CIRCLE-2, JAIPUR

In the result, the appeal of the assessee is allowed

Capital Gains” and Tax Credit mismatch were identified for examination. It was submitted that the assessee claimed deduction u/s 54 by selling a house property and by making investment in another house property. The assessee, before ld. AO, duly placed on record the following documents vide reply to ld. AO dated 26.09.2016: 3 Prakash Pandharinath Bakre, Jaipur

DR. ASHA MATHUR,GUJRAT vs. ASSISTANT COMMISSIONR OF INCOME TAX, CIRCLE-1, JAIPUR

In the result, appeal of the assessee is allowed for statistical

Bench: The Itat By Taking Following

capital gains scheme account and then utilizing for the purpose but the assessee has claimed only what has been invested by her up to the due date of filing of return applicable in her case for the ITA 769/JP/2017_ 13 Dr. Asha Mathur Vs. ACIT assessment year 2014-15 i.e. up to 31.07.2014 which for this and that reason

M/S. OM PRAKASH BADAYA (HUF),JAIPUR vs. PR.CIT,, ALWAR

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

capital gains was enquired into by the Ld. Assessing Officer properly. In this connection, it is submitted that complete evidences pertaining to the purchases of shares, share transfer confirmation by the company, physical delivery of shares, credit of shares in demat account, sale of shares and finally debit of shares from demat account etc. were filed during the course

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 gains tax, did not disclose the profits arising on its sale. The case was selected for scrutiny through CASS which was finalized u/s 143(3) of the IT Act. 1961 determining total income Rs. 1,14,75,790/- on 05.12.2016 An addition of Rs 1,14,75,791/-was made on account of LTCG on sale of the impugned

SH. SURENDER MEENA,36, PRATAP NAGAR, SHASTRI NAGAR, JAIPUR vs. PCIT-1, JAIPUR

In the result the appeal of the assessee is allowed

gain is very much evident as the land was divided into smaller plots and almost simultaneously sold out to various persons points towards the fact that the transaction comes under the ambit of adventure in nature of trade. In this regard, reliance is placed on Hon'ble Supreme Court decision in the case of G.Venkatswamy Naidu

DAULAT SINGH HALDEA,JAIPUR vs. ITO WD 3(3), JAIPUR

The appeal is partly allowed as regards

Bench: SHRIGAGAN GOYAL (Accountant Member), SHRI NARINDER KUMAR (Judicial Member)

282/- Add: Long term Capital Gain as discussed above Rs. 1,55,00,000/- Gross total income Rs. 1,63,00,964/- Less: deduction u/s 80C Rs. 27,500/- Total taxable income Rs. 1,62,73,464/- Rounded off Rs. 1,62,73,460/- Assessed u/s 143/147 at total income of Rs. 1,62,73,460/-. Issue demand notice. Charge

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 the sales of shares of the company for which the information has been received. Thus, she noted that the ld. AO has erred in accepting the claim of the assessee as genuine ignoring the information received from the Investigation Wing and thus the 29 Vipul Kumar Modi vs. PCIT ld. AO failed

SH. NARENDAR KUMAR AGARWAL,JAWALI BHAWAN, STATION ROAD, ALWAR vs. PCIT, JAIPUR-1, JAIPUR

In the result the appeal of the assessee is allowed

capital gain assessee took cost of 1 bigha of agricultural land sold on 27.09.2011 at Rs.25,18,424/- (1/5th of Rs.1,25,92,121/-) and stamp duty at Rs.2,70,000/- (1/5th of Rs.13,50,000/- instead of 1/5th of Rs.14,07,735/-) and accordingly computed the indexed cost of acquisition. The 1 bigha agricultural land was sold for Rs.50

GIRIRAJKRIPA DEVELOPERS PRIVATE LIMITED,JAIPUR vs. ITO, WARD-3(2), JAIPUR

In the result, appeal of the assessee is allowed

capital gains. 4. Being aggrieved by the order of the A.O., the assessee preferred appeal before the ld. CIT(A), who after considering both the parties has upheld reopening of assessment U/s 147, on merits the ld. CIT(A) sustained the addition of Rs. 1,13,23,461/- by holding that the transaction is a transfer within the meaning

DIVYANIDHI BUILDCON PRIVATE LIMITED,JAIPUR vs. DCIT CIRCLE 6, JAIPUR, JAIPUR

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

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

section 45(3) of the Income Tax Act. Therefore, the income earned on account of transfer of the land held as investment in the books of accounts of the assessee company has been offered under the head 'Income from capital gains' and there is no dispute on it. Apart from the above income, there is no other income from

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

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

Section 153A of the Act, the A.O. made addition of Rs. 1,22,26,044/- on account of alleged unaccounted business income alleged to be earned on sales of plots in Kediaz Corridor computed on the basis of noting found on Page No. 13- 19 of AS-9 impounded u/s 133(6) from M/s Kedia Real Estate LLP, Shop

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

Section 153A of the Act, the A.O. made addition of Rs. 1,22,26,044/- on account of alleged unaccounted business income alleged to be earned on sales of plots in Kediaz Corridor computed on the basis of noting found on Page No. 13- 19 of AS-9 impounded u/s 133(6) from M/s Kedia Real Estate LLP, Shop

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

Section 153A of the Act, the A.O. made addition of Rs. 1,22,26,044/- on account of alleged unaccounted business income alleged to be earned on sales of plots in Kediaz Corridor computed on the basis of noting found on Page No. 13- 19 of AS-9 impounded u/s 133(6) from M/s Kedia Real Estate LLP, Shop

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

Section 153A of the Act, the A.O. made addition of Rs. 1,22,26,044/- on account of alleged unaccounted business income alleged to be earned on sales of plots in Kediaz Corridor computed on the basis of noting found on Page No. 13- 19 of AS-9 impounded u/s 133(6) from M/s Kedia Real Estate LLP, Shop

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

Section 153A of the Act, the A.O. made addition of Rs. 1,22,26,044/- on account of alleged unaccounted business income alleged to be earned on sales of plots in Kediaz Corridor computed on the basis of noting found on Page No. 13- 19 of AS-9 impounded u/s 133(6) from M/s Kedia Real Estate LLP, Shop