INDIRA GIRI,JAIPUR vs. ASSESSING OFFICER, INCOME TAX DEPARMENT JAIPUR

The appeal of the assessee is allowed

Bench: The Due Date Of Furnishing Itr, Therefore Deposit In Capital Gain Account For Compliance U/S 54(2) Was Impossible On The Part Of The Assessee.

Section 143(3) of the Income tax Act, 1961 (in short 'the Act') dated 22.12.2018. 2. The assessee has marched this appeal on the following 2 Indira Giri vs. ITO grounds:- “1. On the facts and circumstances of the case, the Ld. CIT (A), NFAC has erred in law in upholding the action of Ld. AO in denying relief

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

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 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 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

THE BANK OF RAJASTHAN EMPLOYEES CREDIT & THIRFT COOPERATIVE SOCIETY LIMITED,JAIPUR vs. ACIT, CIRCLE-1, JAIPUR

In the results appeal of the assessee in ITA No

2)(a) (i) to(vii) of the ITA is covered\nthe whole of the amount of profits and gains of business attributable to any one\nor more of such activities.\"\nThe Apex court in the case of Cambay Electric Supply Industrial Co. Ltd. v. CIT\n[1978] 113 ITR 84 defined the meaning of the word of “attributable to”\nThe

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)

41 taxmann.com 445 (Karnataka) held that "Section 55, read with section 53A, of the Income-tax Act, 1961 Capital gains Cost of acquisition [Fair Market Value] Assessment year 2001-02 - Whether for levying capital gain tax for purpose of computing capital gain tax, fair market value, which is to be taken into consideration, is price which property would fetch

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)

gains of the business or profession, and accordingly chargeable to income-tax as the income of that previous year. Explanation 1.-For the purposes of this sub-section, the expression "loss or expenditure or some benefit in respect of any such trading liability by way of remission or cessation thereof" shall include the remission or cessation of any liability

LAL CHAND MEENA,JAIPUR vs. ITO WD 5(2), JAIPUR

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

section 148 or to disclose fully and truly all material facts necessary for his assessment, for that assessment year" The assessee objected to such re-opening as it was hit by the first proviso to sec 147, whereby an assessment / re-assessment completed u/s 143(3) of the act is sought to be re-opened after lapse of four years

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2, KOTA, KOTA vs. CHAMBAL FERTILIZERS AND CHEMICALS LTD, KOTA

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

Section 28 pertains to computation of profits and gains of business or profession and postulates to which income shall be chargeable to income tax under the said head. 31. In this way, in computation the income under the said head deduction of the amount of interest paid by the assessee in respect of capital borrowed is to be allowed, where

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2, KOTA, KOTA vs. CHAMBAL FERTILIZERS AND CHEMICALS LTD, KOTA

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

Section 28 pertains to computation of profits and gains of business or profession and postulates to which income shall be chargeable to income tax under the said head. 31. In this way, in computation the income under the said head deduction of the amount of interest paid by the assessee in respect of capital borrowed is to be allowed, where

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2, KOTA, KOTA vs. CHAMBAL FERTILIZERS AND CHEMICALS LTD., KOTA

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

Section 28 pertains to computation of profits and gains of business or profession and postulates to which income shall be chargeable to income tax under the said head. 31. In this way, in computation the income under the said head deduction of the amount of interest paid by the assessee in respect of capital borrowed is to be allowed, where

ITO, WAR-4(1), JAIPUR vs. SHRI AMIT AGARWAL, JAIPUR

In the result, this appeal of the Revenue is dismissed

Bench: Shri Sandeep Gosain, Jm & Shri Vikram Singh Yadav, Am

capital nature but had changed its character to be of revenue nature, it was treated to be taxable income of the assessee. Thus, the amount of Rs. 1,03,648/- found credited in the books of account of the assessee, the liability to pay back the same had ceased to exist and, therefore, the Tribunal had rightly treated

SHRI KRISHNARAJ BUILDHOME PVT LTD,JAIPUR vs. INCOME TAX OFFICER, JAIPUR

capital asset),\nbeing land or building or both, is less than the value adopted or\nassessed or assessable by any authority of a State Government for the\npurpose of payment of stamp duty in respect of such transfer, the value\nso adopted or assessed or assessable shall, for the purposes of\ncomputing profits and gains from transfer of such asset

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

In the result, the appeal of the assessee is allowed

2,11,779/- i.e. 3 % of Rs. 70,59,315/- was also added to the income of the assessee as commission paid as per provision of section 69C of the Act. 6 Nirmal Kumar Agrawal vs. DCIT 4. Aggrieved from the order of the National Faceless Assessment Center, assessee preferred an appeal before the ld. CIT(A). Apropos

SHRI ARNAV GOYAL,JAIPUR vs. ITO, WARD-2(4), JAIPUR

In the result, the appeal of the assessee is allowed

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

41. On perusal of the above observation of the ITAT, it is clear that in the above case the AO did not conduct any independent investigation or enquiry and simply made the addition based on the appraisal report and order of settlement commission passed in another assessee. The AO also relied upon the statement of the assessee recorded during survey

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

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

capital gains.\n\nIV.\nAggrieved by the assessment order, the assessee preferred an appeal before the\nCommissioner of Income Tax (Appeals), Jaipur–4 “CIT(A)”. The appeal was allowed vide\norder dated 31.12.2024. The Id. CIT(A) deleted the addition made under Section 153A\non the ground that the assessment for the said year had already attained finality

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

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

Capital Gains on account of unexplained credits\nu/s 68 of the Act based on these observations ground no. 1 raised by the\nrevenue is dismissed.\nSince we have confirmed the action of the Id. CIT(A) in directing the\ndeletion of addition vide ground no. 1 the ground no. 2 being consequential\nto ground no. 1 the addition of alleged