AU SMALL FINANCE BANK LIMITED,JAIPUR vs. PRINCIPAL COMMISSIONER OF INCOME TAX, JAIPUR-1

In the result both the appeals filed by the assessee in ITA

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

1), Kannur[2012] 20 Taxmann.com 667 (Coch) 14. CBDT Instruction No. 17/2008 dated 26-11-2008 (F.No. 228/3/3008 – ITA-III) 15. CIT vs HCL Comnet Sytesm Ltd. [2008] 174 Taxman 118 SC 16. Rule of Income Tax Rules, 1962 17. CBDT Circular No.9/2006 dated 10-10-2006 18. Zenith Processing Mills Ltd. vs CIT- MANU/GJ/0049/1955 19.CBDT Circular No. 768 dated

ACIT(EXEMPTION), JAIPUR vs. MAHIMA SHIKSHA SAMITI, JAIPUR

In the result, all the grounds taken by the Revenue are dismissed and ground taken by the assessee society is allowed

viii) of sub-section (1) of section 36; (ixa) deposits with or investment in any bonds issued by a public company Mahima Shiksha Samiti, Jaipur vs. ACIT,(Exemption), Jaipur formed and registered in India with the main object of carrying on the business of providing long-term finance for urban infrastructure in India. Explanation.—For the purposes of this clause

INTEGRAL URBAN CO-OPERATIVE BANK LTD.,JAIPUR vs. INCOME TAX OFFICER, WARD-2-1, JAIPUR

In the result, the appeal is partly allowed

Bench: Us. In This Appeal, The Assessee Bank Has Taken The Following Grounds Of Appeal:-

36(1)(viii) confirming the disallowance of depreciation of Rs. 11,11,243/- 3. That the CIT(A) erred in law and on facts in not directing the AO to recalculate the depreciation allowance by allowing depreciation on computers at 60% instead of 33% allowed in the assessment order. 4. That the Hon’ble ITAT may direct recalculation of interest

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

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

viii) Copy of bills issued by\nB. Lodha Securities Ltd Page No.27 (ix) Copy of Contract Note issued by Tushar\n(India) Pvt Ltd Page No.28 (x) Copy of bills issued by B. Lodha Securities Ltd\nPage No.29 to 33 (Xi) Copy of Contract Note issued by Natraj Capital and Credit\nPvt. Ltd. Page No.34 (xii) Copy of bills issued

RAJ KUMAR JAIN,JAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE – 2, JAIPUR, JAIPUR

In the result, appeal of the assessee is allowed

viii) Vimal Chand Surana ITA No. 304/JP/2018. (ix) RajendraKumar Jain dated 14.09.20. 4. On the other hand, the ld. D/R relied on the order of the AO. He submitted that the penalty was rightly levied on account of unexplained cash, unexplained jewellery and unexplained valuables found at the premises of the assessee. It was submitted by the ld. D/R that

MAGENDRA SINGH RATHORE,ALWAR vs. DCIT CENTRAL CIRCLE-2, JAIPUR

In the result the appeal of the assessee is partly allowed

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

gains of business and profession the disallowance of alleged excess interest as per provision of section 57(iii) is not correct. When the matter was carried to ld. CIT(A), though he observed that the contention of the assessee has merits on the legal ground raised but he has confirmed the finding of the ld. Assessing Officer only

SHREE CEMENT LIMITED,BANGUR NAGAR vs. ACIT, CENTRAL CIRCLE, AJMER

In the result, the appeal of the assessee - appellant in ITA No

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

gain or loss as per the provisions of Income Tax Act (Le. after indexation) on such assets is to be considered while computing book profit u/s 115JB. The aforesaid claim has duly been made by the appellant in the notes forming part of computation of total income. [For Additional Ground No. 6] 8.0 Prayer 8.1 In view of the above

MAGENDRA SINGH RATHORE,ALWAR vs. ACIT CENTRAL CIRCLE-2, JAIPUR

gains of business and profession the\ndisallowance of alleged excess interest as per provision of section\n57(iii) is not correct. When the matter was carried to Id. CIT(A),\nthough he observed that the contention of the assessee has merits\non the legal ground raised but he has confirmed the finding of the\nId. Assessing Officer only

SITA DEVI AGARWAL,JAIPUR vs. ITO, WD-4(1), JAIPUR

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

section 68 or not. In the case of NR Portfolio, it was held that the genuineness and credibility are deeper and obtrusive. Similarly, the bank statements provided by the assessee to prove the genuineness of the transactions cannot be considered in view of the judgment of Hon'ble court in the case of Pratham Telecom India Pvt Ltd, wherein

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)

viii) As per the above facts, it is evident and verifiable that the appellant has surrendered its rights in the land acquired by the JDA vide its letter dt.19.02.2014 i.e. in the FY.2013-14 relevant to A.Y.2014-15. I also find that the consideration on account of acquisition of agricultural land was decided by the Government on 11.09.2014, in response to which

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)

viii) As per the above facts, it is evident and verifiable that the appellant has surrendered its rights in the land acquired by the JDA vide its letter dt.19.02.2014 i.e. in the FY.2013-14 relevant to A.Y.2014-15. I also find that the consideration on account of acquisition of agricultural land was decided by the Government on 11.09.2014, in response to which

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)

viii) As per the above facts, it is evident and verifiable that the appellant has surrendered its rights in the land acquired by the JDA vide its letter dt.19.02.2014 i.e. in the FY.2013-14 relevant to A.Y.2014-15. I also find that the consideration on account of acquisition of agricultural land was decided by the Government on 11.09.2014, in response to which

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)

viii) As per the above facts, it is evident and verifiable that the appellant has surrendered its rights in the land acquired by the JDA vide its letter dt.19.02.2014 i.e. in the FY.2013-14 relevant to A.Y.2014-15. I also find that the consideration on account of acquisition of agricultural land was decided by the Government on 11.09.2014, in response to which

NIRMAL KUMAR AGRAWAL,JAIPUR vs. DCIT, CIRCLE - 4 , JAIPUR

In the result, the appeal of the assessee is allowed

36 persons. However, in that list also assessee name was not mentioned. Thus by, relying upon the generalized statements of such parties, ld. AO concluded that M/s Midland Polymers is a Penny stock company and further went on holding that entire consideration received by the assessee after adjusting Short Term Capital declared in IDS 2016 as unexplained cash credit

ACIT, CC-4, JAIPUR vs. SHRI MUKESH JAIN, JAIPUR

In the result appeals of the revenue are dismissed and the cross

capital gain including the report of the SIT report he had relied upon. He has heavily relied on the statement recorded u/s. 132(4) of the Act wherein the assessee has accepted the amount as not genuine transactions and therefore, the same CO No. 15 & 16/JP2020 & others ACIT vs. Sh. Ramesh Kumar Mantri may be viewed in accordance with

ACIT, CC-4, JAIPUR vs. SHRI MUKESH JAIN, JAIPUR

In the result appeals of the revenue are dismissed and the cross

capital gain including the report of the SIT report he had relied upon. He has heavily relied on the statement recorded u/s. 132(4) of the Act wherein the assessee has accepted the amount as not genuine transactions and therefore, the same CO No. 15 & 16/JP2020 & others ACIT vs. Sh. Ramesh Kumar Mantri may be viewed in accordance with

ACIT, CC-4, JAIPUR vs. SHRI MUKUT BEHARI AGARWAL, JAIPUR

In the result appeals of the revenue are dismissed and the cross

capital gain including the report of the SIT report he had relied upon. He has heavily relied on the statement recorded u/s. 132(4) of the Act wherein the assessee has accepted the amount as not genuine transactions and therefore, the same CO No. 15 & 16/JP2020 & others ACIT vs. Sh. Ramesh Kumar Mantri may be viewed in accordance with

ACIT, CC-4, JAIPUR vs. SMT. SUNITA AGARWAL, JAIPUR

In the result appeals of the revenue are dismissed and the cross

capital gain including the report of the SIT report he had relied upon. He has heavily relied on the statement recorded u/s. 132(4) of the Act wherein the assessee has accepted the amount as not genuine transactions and therefore, the same CO No. 15 & 16/JP2020 & others ACIT vs. Sh. Ramesh Kumar Mantri may be viewed in accordance with