SHRI GULAB CHAND MEENA,JAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX (OSD) , JAIPUR

In the result, appeal of the assessee is allowed

Bench: Shri Sandeep Gosain, Jm & Shri Vikram Singh Yadav, Am Vk;Dj Vihy La-@Ita No. 49/Jp/2018 Fu/Kzkj.K O"Kz@Assessment Year :2011-12 Cuke Shri Gulab Chand Meena, A.C.I.T.(Osd), Vs. Village- Dantali, Tehsil- Range-7, Sanganer, Jaipur. Jaipur. Lfkk;H Ys[Kk La-@Thvkbzvkj La-@Pan/Gir No.: Abupm 2026 R Vihykfkhz@Appellant Izr;Fkhz@Respondent Fu/Kzkfjrh Dh Vksj Ls@ Assessee By : Shri Manish Agarwal (Ca) Jktlo Dh Vksj Ls@ Revenue By : Smt. Monisha Choudhary (Addl.Cit) Lquokbz Dh Rkjh[K@ Date Of Hearing : 11/01/2021 Mn?Kks"K.Kk Dh Rkjh[K@ Date Of Pronouncement : 28/01/2021 Vkns'K@ Order Per: Sandeep Gosain, J.M. This Is An Appeal Filed By The Assessee Against The Order Of Ld.Cit(A)- 3, Jaipur Dated 06/12/2017 For The A.Y. 2011-12 In The Matter Of Order Passed U/S 143(3) Read With Section 147 Of The Income Tax Act, 1961 (In Short, The Act), Wherein Following Grounds Have Been Taken. “1. On The Facts & The Circumstances Of The Case The Ld. Cit(A) Erred In Confirming The Disallowance Of Deduction U/S 54F Of Rs. 5,78,571/- Made By Ld.Ao Arbitrarily & Accordingly Treating It As A Long Term Capital Gain When All The Conditions Prescribed U/S 54F Were Fulfilled By Assessee. 1.1. That The Ld. Cit(A) Has Further Erred In Not Considering The Fact That Assessee Had Submitted The Valuation Report In Support Of His Claim Of 2

1) is subject to the extended period provided u/s 139(4). Hence, extended period u/s 139(4) has to be considered for the purpose of utilisation of the capital gain amount. The Coordinate Bench of ITAT Mumbai Benches of the Tribunal in the case of Kishore H. Galiya v. ITO in ITA No.7326/ Mum/2010, has held that when the assessee

KIRAN YADAV,JAIPUR vs. INCOME TAX OFFICER, WARD-1(3), JAIPUR, JAIPUR

In the result, the appeal of the assessee is partly allowed

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

35,799/-, 6 KIRAN YADAV VS ITO, WARED 1(3), JAIPUR Indexed Cost of MittiBharai of Rs.3,91,430/- and Rs.4,28,676/- paid to Guards for 7 years to protect the Plot from being trespassed and occupied by the miscreants. 2. During the course of re-assessment proceedings, the Appellant had produced all the required details and documents like

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-6, JAIPUR vs. SHRI RAVINDRA MITTAL, JAIPUR

In the result, appeal of the Revenue is dismissed and the cross objection of the assessee is allowed for statistical purposes

Bench: Shri Sandeep Gosain, Jm & Shri Vikram Singh Yadav, Am Vk;Dj Vihy La-@Ita No. 823/Jp/2019 Fu/Kzkj.K O"Kz@Assessment Year :2012-13 D.C.I.T., Cuke Shri Ravindra Mittal, Vs. Circle-6, 804, Akshat Niley Apartment, Jaipur. Hawa Sarak, Civil Lines, Jaipur. Lfkk;H Ys[Kk La-@Thvkbzvkj La-@Pan/Gir No.: Aexpm 9057 N Vihykfkhz@Appellant Izr;Fkhz@Respondent

1 and 2 of the revenue’s appeal is interrelated and interconnected and relates to challenging the order of the ld. CIT(A) in considering the value of 35% land area transferred to developer as Long Term Capital Gain instead of business income of the assessee without appreciating the fact that the assesse has entered into development agreement for real

DCIT, CENTRAL CIRCLE-1, JAIPUR, JAIPUR vs. SNEHLATA AGARWAL, SIKAR

In the result, the appeals of the revenue in ITA No

iv) in case no incriminating material is unearthed during the search, the AO cannot\nassess or reassess taking into consideration the other material in respect of completed\nassessments/unabated assessments. Meaning thereby, in respect of\ncompleted/unabated assessments, no addition can be made by the AO in absence of any\nincriminating material found during the course of search under section

DCIT, CENTRAL CIRCLE-1, JAIPUR, JAIPUR vs. SNEHLATA AGARWAL, SIKAR

In the result, the appeals of the revenue in ITA No

iv)\nin case no incriminating material is unearthed during the search, the AO\ncannot assess or reassess taking into consideration the other material in\nrespect of completed assessments/unabated assessments. Meaning thereby,\nin respect of completed/unabated assessments, no addition can be made by\nthe AO in absence of any incriminating material found during the course of\nsearch under section

DCIT, CENTRAL CIRCLE-1, JAIPUR, JAIPUR vs. TRILOK DEWAN, SIKAR

In the result, the appeals of the revenue in ITA No

iv)\nin case no incriminating material is unearthed during the search, the AO\ncannot assess or reassess taking into consideration the other material in\nrespect of completed assessments/unabated assessments. Meaning thereby,\nin respect of completed/unabated assessments, no addition can be made by\nthe AO in absence of any incriminating material found during the course of\nsearch under section

DCIT, CENTRAL CIRCLE-1, JAIPUR, JAIPUR vs. PRIYA DEWAN, SIKAR

In the result, the appeals of the revenue in ITA No

iv) in case no incriminating material is unearthed during the search, the AO\ncannot assess or reassess taking into consideration the other material in\nrespect of completed assessments/unabated assessments. Meaning thereby,\nin respect of completed/unabated assessments, no addition can be made by\nthe AO in absence of any incriminating material found during the course of\nsearch under section

DCIT, CENTRAL CIRCLE-1, JAIPUR , JAIPUR vs. USHA BANKA, SIKAR

In the result, the appeals of the revenue in ITA No

iv) in case no incriminating material is unearthed during the search, the AO\ncannot assess or reassess taking into consideration the other material in\nrespect of completed assessments/unabated assessments. Meaning thereby,\nin respect of completed/unabated assessments, no addition can be made by\nthe AO in absence of any incriminating material found during the course of\nsearch under section

DCIT, CENTRAL CIRCLE-1, JAIPUR, JAIPUR vs. SARITA DEWAN, SIKAR

In the result, the appeals of the revenue in ITA No

iv) in case no incriminating material is unearthed during the search, the AO\ncannot assess or reassess taking into consideration the other material in\nrespect of completed assessments/unabated assessments. Meaning thereby,\nin respect of completed/unabated assessments, no addition can be made by\nthe AO in absence of any incriminating material found during the course of\nsearch under section

DCIT, CENTRAL CIRCLE-1, JAIPUR, JAIPUR vs. SUBHASH CHANDRA BANKA, SIKAR

In the result, the appeals of the revenue in ITA No

iv) in case no incriminating material is unearthed during the search, the AO\ncannot assess or reassess taking into consideration the other material in\nrespect of completed assessments/unabated assessments. Meaning thereby,\nin respect of completed/unabated assessments, no addition can be made by\nthe AO in absence of any incriminating material found during the course of\nsearch under section

DCIT, CENTRAL CIRCLE-1, JAIPUR, JAIPUR vs. USHA BANKA, SIKAR

In the result, the appeals of the revenue in ITA No

iv)\nin case no incriminating material is unearthed during the search, the AO\ncannot assess or reassess taking into consideration the other material in\nrespect of completed assessments/unabated assessments. Meaning thereby,\nin respect of completed/unabated assessments, no addition can be made by\nthe AO in absence of any incriminating material found during the course of\nsearch under section

DCIT, CENTRAL CIRCLE-1, JAIPUR, JAIPUR vs. SARITA DEWAN, SIKAR

In the result, the appeals of the revenue in ITA No

iv)\nin case no incriminating material is unearthed during the search, the AO\ncannot assess or reassess taking into consideration the other material in\nrespect of completed assessments/unabated assessments. Meaning thereby,\nin respect of completed/unabated assessments, no addition can be made by\nthe AO in absence of any incriminating material found during the course of\nsearch under section

DCIT, CENTRAL CIRCLE-1, JAIPUR, JAIPUR vs. PRIYA DEWAN, SIKAR

In the result, the appeals of the revenue in ITA No

iv)\nin case no incriminating material is unearthed during the search, the AO\ncannot assess or reassess taking into consideration the other material in\nrespect of completed assessments/unabated assessments. Meaning thereby,\nin respect of completed/unabated assessments, no addition can be made by\nthe AO in absence of any incriminating material found during the course of\nsearch under section

DCIT, CENTRAL CIRCLE-1, JAIPUR, JAIPUR vs. VIPUL BANKA, SIKAR

In the result, the appeals of the revenue in ITA No

iv) in case no incriminating material is unearthed during the search, the AO\ncannot assess or reassess taking into consideration the other material in\nrespect of completed assessments/unabated assessments. Meaning thereby,\nin respect of completed/unabated assessments, no addition can be made by\nthe AO in absence of any incriminating material found during the course of\nsearch under section

DCIT, CENTRAL CIRCLE-1, JAIPUR, JAIPUR vs. ANIMESH AGARWAL, SIKAR

In the result, the appeals of the revenue in ITA No

iv)\nin case no incriminating material is unearthed during the search, the AO\ncannot assess or reassess taking into consideration the other material in\nrespect of completed assessments/unabated assessments. Meaning thereby,\nin respect of completed/unabated assessments, no addition can be made by\nthe AO in absence of any incriminating material found during the course of\nsearch under section

FEDERATION OF RAJASTHAN TRADE AND INDUSTRY,JAIPUR vs. ITO-EXEMPTION WARD-2, JAIPUR

In the result, the appeal filed by the assessee is allowed for statistical purposes

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

iv) cost of acquisition is historical, the concept of indexed cost allows to the taxpayer to factor in the impact of 5 Federation of Rajasthan Trade & Industry inflation on cost. (v) the base year was F.Y. 1981-82 and Cll was 10 and Cll for the year under consideration 939, it means when fair market value of the property

DCIT, CENTRAL CIRCLE-2, JAIPUR, JAIPUR vs. KAMLAPRABHA L/H OF LATE SHRI GOPAL LAL JI GOSWAMI, KOTA

In the result, the appeal of the revenue is dismissed and the Cross objection of the assessee is disposed off in terms of the observation made herein above

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

35,11,625 (3,00,00,000+ 3,77,00,000+ 1,50,00,000+ 7,21,000) in A.Y. 2014- 15 is duly tallied with the sale agreement executed by Shri Gopal Lal in favor of M/s S.G. Enterprises. Accordingly, the capital gain liability arises on the assessee in the year of executing agreement to sale which

SAKET AGARWAL,JAIPUR vs. ITO WARD 2(3) JAIPUR, JAIPUR

In the result appeal filed by the assessee is allowed

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

35,510/- 7. M/s Gulmohar Gems & Jewels Rs. 20,22,071/- 8. M/s Mega Exports Rs. 16,01,562/- 9. M/s R.S. Jewellers Rs. 5,71,298/- 10. M/s Shree Abhushan Rs. 18,93,793/- 11. M/s Alankar Jewellers Rs. 7,00,000/- 7 Saket Agarwal vs. ITO 12. M/s Snmati Gems & Jewels Rs. 10,75,500/- 13. M/s Shree