DCIT,C-7, JAIPUR vs. BHARAT MOHAN RATURI, JAIPUR

In the result, the appeal of the Department is dismissed and that of the C

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;djvihy la-@ITA No. 413/JP/2022 fu/kZkj.ko"kZ@AssessmentYear :2013-14 The DCIT Circle-7 Jaipur cuke Vs. Shri Bharat Mohan Raturi 161, Indira Colony, Bani Park Jaipur 302 015 (Raj) LFkk;hys[kk la-@thvkbZvkj la-@PAN/GIR No.: AANPR 7066G vihykFkhZ@Appellant izR;FkhZ@Respondent CO No. 2/JP/2023 (Arising out of vk;djvihy la-@ITA No. 413/JP/2022 ) fu/kZkj.ko"kZ@AssessmentYear :2013-14 Shri Bharat Mohan Raturi 161, Indira

41[Subject to the provisions of sub-section (2), where, in the case of an assessee42 being an individual or a Hindu undivided family], the capital gain

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

LAL CHAND MEENA ,JAIPUR vs. ITO, WARD 7-3, JAIPUR

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

section 2(47) of the Act and there is nothing in the income tax law which prohibits the same. Therefore, in the instant case, as a general proposition, once a land is deemed to be transferred to the firm by way of capital contribution by a partner u/s 45(3) of the Income Tax Act, 1961, the subsequent registration

SHRI DHARMENDRA KUMAR PAREEK,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-2, JAIPUR

In the result, appeal of the assessee is allowed

capital gains only qua depreciable assets which in the present case is the superstructure erected on the site [see section 41(2

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

gains of business, unless the business is incidental to the attainment of the objectives of the trust or, as the case may be, institution, and separate books of account are maintained by such trust or institution in respect of such business. (5) The forms and modes of investing or depositing the money referred to in clause (b) of sub-section

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

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

M/S. RAJASTHAN CRICKET ASSOCIATION,JAIPUR vs. ADD.CIT. RANGE-2, JAIPUR

In the result, the matter is decided in favour of the assessee and against the Revenue and the ground of appeal so taken by the assessee society is thus allowed

gains of business, unless the business is incidental to the attainment of the objectives of the trust or, as the case may be institutions and separate Books of accounts are maintained by such trust or institution in respect of such business.Now, coming to the allegation of the Assessing Officer that the major source of income are TV subsidy, sale

INCOME TAX OFFICER (EXEMPTION), WARD-1, JAIPUR vs. RAJASTHAN CRICKET ASSOCIATION, JAIPUR

In the result, the matter is decided in favour of the assessee and against the Revenue and the ground of appeal so taken by the assessee society is thus allowed

gains of business, unless the business is incidental to the attainment of the objectives of the trust or, as the case may be institutions and separate Books of accounts are maintained by such trust or institution in respect of such business.Now, coming to the allegation of the Assessing Officer that the major source of income are TV subsidy, sale

INCOME TAX OFFICER (EXEMPTION), WARD-1, JAIPUR vs. M/S RAJASTHAN CRICEKT ASSOCIATION, JAIPUR

In the result, the matter is decided in favour of the assessee and against the Revenue and the ground of appeal so taken by the assessee society is thus allowed

gains of business, unless the business is incidental to the attainment of the objectives of the trust or, as the case may be institutions and separate Books of accounts are maintained by such trust or institution in respect of such business.Now, coming to the allegation of the Assessing Officer that the major source of income are TV subsidy, sale

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

RAM LAL SHARMA,JAIPUR vs. ITO, JAIPUR

In the result, assessee’s appeals are partly allowed for statistical purposes

2. The CIT(A) has erred on facts and in law in confirming the addition of Rs. 41,35,500/- on account of long term capital gain by: (i) treating the land sold as a capital asset within the meaning of 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)

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