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. 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. SMT. SANGEETA MANTRI, 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. ASHA 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. 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

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. SHRI RAMESH KUMAR MANTRI, 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 RAMESH KUMAR MANTRI, 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

NANAG RAM MEENA,JAIPUR vs. ITO WARD 6(4), JAIPUR

In the result, the appeal of the assesee is partly allowed as indicated\nhereinabove

capital gain of Rs.71,80,672/- and deduction u/s 54F amounting to Rs\n27,50,000.00, after considering Id. CIT (A) order. As per the settled position\nof law, for the purpose of section 54F the \"net consideration\" refers to the\nactual consideration received or accrued to the assessee as reduced by\ntransfer expenses, and the deeming fiction under section

SHRI LALIT KUMAR KALWAR,SARWAR vs. INCOME TAX OFFICER, AJMER

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

section 54 of the Act." The Coordinate Bench of the Tribunal, Jaipur in the case of Income Tax Office vs. Rajkumar Parashar (2018) 195 TTJ (Jp) 212(DPB 10-17) it was held as: “Where the cost of the new asset is not less than the net consideration in respect of the original asset, the whole of such capital gain

JAGDISH KUMAR ARORA,BHAWANIMANDI vs. DCIT, CENTRAL CIRCLE- KOTA, KOTA

In the result, the appeal of the assessee is allowed

Bench: SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member), SHRI NARINDER KUMAR (Judicial Member)

section 69 cannot be invoked and the sundry debtors has to be treated as business or profession income of the assessee. Admittedly, in the present case, no existence of evidence in relation to any unaccounted independent identifiable other investment which was found during the course of survey. It is also admitted fact the appellant admittedly is engaged in business from

SMT. VINEETA KUMAR,C-13, DEEPAK MARG, M.D. RAOD, JAIPUR vs. ITO, WARD-7(1), JAIPUR

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

section 10(38) and accordingly made addition of Rs. 3,38,161/-. Aggrieved by the order of A.O., the assessee preferred appeal before the ld. CIT (A). Before ld. CIT (A) assessee submitted that through long term capital gain of Rs. 3,38,161/- on sale of ICICI Bond is chargeable to tax but the same is required

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

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 37 of the Act.” The ld. AO noted that the reply of the assessee is not acceptable on the grounds that the assessee has not undertaken any 5 Divyanidhi Buildcon Pvt. Ltd. vs.ITO business activities regularly. In the year under consideration the assessee has offered only the capital gains only. Thus, he holds that in the absence

PRADEEP KUMAR ROCHWANI, JODHPUR,JODHPUR vs. CIRCLE (INTL TAX), JAIPUR, JAIPUR

In the result, appeal of the assessee is allowed

Bench: DR. MITHA LAL MEENA (Accountant Member), DR. S. SEETHALAKSHMI (Judicial Member)

gain tax as the date of acquisition. Further, referring to the clarification issued by the CBDT, vide its Circular No. 672, dated 16.12.1993, it was observed by the Hon’ble High Court, that the Board had clarified that if the terms of the schemes of allotment and construction of flats/houses by the co-operative societies or other institutions 9 Pradeep

PINK CITY JEWEL HOUSE PRIVATE LIMITED ,JAIPUR vs. PRINCIPAL COMMISSIONER OF INCOME TAX (CENTRAL), JAIPUR

482 - ITAT CHANDIGARH] and\ncase of Daulatram Rawatmull [1966 (4) TMI 73 CALCUTTA HIGH COURT]. In\nconsidered view, the conversion of business income into other income and application\nof section 69A is bad and illegal. Accordingly, levy of tax u/s 115BBE on the income\namount liable to be quashed. Assessee appeal allowed.\n• Hon'ble ITAT Chandigarh Bench in Parmod

SHRI RAJESH NATANI,JAIPUR vs. ITO, WARD-4(5), JAIPUR

In the result, this appeal of the assessee is allowed

Bench: Shri Sandeep Gosain, Jm & Shri Vikram Singh Yadav, Am Vk;Dj Vihy La-@Ita No. 233 & 234/Jp/2020 Fu/Kzkj.K O"Kz@Assessment Years :2014-15 & 2015-16 Rajesh Natani, Cuke I.T.O. Vs. A-2, Subhash Nagar, Shastri Nagar, Ward-4(5), Jaipur-302016 (Raj) Jaipur. Lfkk;H Ys[Kk La-@Thvkbzvkj La-@Pan/Gir No.: Aaacn 5961 E Vihykfkhz@Appellant Izr;Fkhz@Respondent Fu/Kzkfjrh Dh Vksj Ls@ Assessee By : Shri G.N. Sharma (Adv) Jktlo Dh Vksj Ls@ Revenue By: Smt. Monisha Choudhary (Jcit) Lquokbz Dh Rkjh[K@ Date Of Hearing : 09/11/2021 Mn?Kks"K.Kk Dh Rkjh[K@ Date Of Pronouncement : 23/11/2021 Vkns'K@ Order Per: Sandeep Gosain, J.M. Both These Appeals Have Been Filed By The Assessee Against The Separate Orders Of The Ld. Cit(A), Ajmer Dated 17/10/2019 For The A.Y. 2014-15 & 2015-16 Respectively.

capital as working partner in partnership from those firms i.e. Oliya Import and Exports, Natani Steel Industries and Neelkanth Steel Corporation. The above Companies as well firms have been dealing in manufacturing and trading in all kinds of Iron and Steel such as Round Bars, MS Angle, Sections, Channels etc. That the appellant-assessee is director in Natani Rolling Mills