MAHAVEER YADAV,JAIPUR vs. ITO, JAIPUR

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

5. Without prejudice to above, even if it is held that assessee has converted the agricultural land of HUF as stock in trade, its taxability would be governed by section 45(2). As per this section, profits & gains arising from the transfer by way of conversion by the owner of a capital

OMPRAKASH,DHOLPUR vs. ITO WARD 4 BHARATPUR, BHARATPUR

In the result, the both the appeals of the assessee are allowed for statistical\npurposes as indicated hereinabove\nOrder pronounced in the open court on\n17/01/2025

Section 2(14), read with\nsection 45, of the Income-tax Act, 1961 - Capital gains - Capital asset (Agricultural land)\n Assessment year 2013-14 - Assessee sold agricultural land situated beyond municipal\nlimits - Assessing Officer treated sale proceeds as long-term capital gain on the grounds\nthat land was within 5

PRADEEP VATRANA,ALWAR vs. DCIT, ALWAR

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

section 45(2). Therefore, FMV of the asset on the date of conversion as reduced by the indexed cost of acquisition and cost of improvement will be assessed under the head capital gain and excess over such FMV can only be brought to tax as business income. 3. The ld DR has vehemently argued the matter and relied upon

SHRI YOGESH MAHESHWARI,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3, JAIPUR

In the result, this appeal of the assessee is allowed

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

gain and other sources. A search was carried out u/s 132 of the Income Tax Act, 1961 (in short, the Act) on 07-01-2016 in case of Dilip Manihar group in which assessee was also covered. The assessee filed his return of income u/s 139 of the Act on 30-03-2016 declaring total income

SMT. NIRMALA MAHESHWARI,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3, JAIPUR

In the result, this appeal of the assessee is allowed

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

gain and other sources. A search was carried out u/s 132 of the Income Tax Act, 1961 (in short, the Act) on 07-01-2016 in case of Dilip Manihar group in which assessee was also covered. The assessee filed his return of income u/s 139 of the Act on 30-03-2016 declaring total income

SMT. KAVITA MAHESHWARI,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3, JAIPUR

In the result, this appeal of the assessee is allowed

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

gain and other sources. A search was carried out u/s 132 of the Income Tax Act, 1961 (in short, the Act) on 07-01-2016 in case of Dilip Manihar group in which assessee was also covered. The assessee filed his return of income u/s 139 of the Act on 30-03-2016 declaring total income

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

Capital 5. The assessee craves his right to add, alter, Gain @ 30% in place of 20% in the amend or delete any grounds of appeal at the time of computation form annexed to the hearing or earlier. assessment order and its consequent impact on surcharge and interest under section 234B & 234C. 6. The assessee craves his right to add, alter

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

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

2(47) and rightly taxed the capital gain arising in the hands of the appellant as per provisions of section 50C of IT Act, accordingly the addition made by the AO amounting to Rs. 7249655/- on account of short term capital gains is confirmed. The ground of appeal is dismissed.” ITA No. 515/JP/15 Lalchand Meena, vs. ITO, Ward

SHIVA CORPORATION (INDIA) LIMITED,JAIPUR vs. DY. CIT, CC-3, JAIPUR

In the result, appeal of the assessee stands allowed

5,912 which was less than statutory\nrequirement of 10,000, Tribunal was justified in holding land in question\nsold by assessee which was situated in said village was an agricultural\nland\nKulwant Singh vs. Income-tax Officer [2024] 165 taxmann.com 383\n(Chandigarh - Trib.)[26-04-2024]\nSection 2(14) of the Income-tax Act, 1961 - Capital gains - Capital

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.

5), Jaipur passed under 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

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

2,38,996/-. He claimed deduction of Rs. 14,00,000/- under section 54EC on account of investment in bonds. 7 ITA 823/JP/2019 & CO 29/JP/2019_ DCIT Vs Ravindra Mittal Thereafter, the assessee revised the return of income and offered long term capital gain of Rs. 5

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)

2,67,284/- 4.3.4 In these circumstances and in view of the foregoing facts, I am of the opinion that no interference is required in the assessment order. The order of the Assessing officer assessing the Long term capital gain at Rs. 17,24,767/- Is upheld. All the grounds raised in this appeal are dismissed. 5. With regard

UDAI SINGH RATHORE,JAIPUR vs. ITO, JAIPUR

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

Bench: Or At The Time Of Hearing.”

Sections 48, 49, 55(2) and 55 (3) of the Act under similar circumstances observed as under:— "5. It is pointed out that judgment in CIT v. B.C.Srinivasa Setty, [1981] 128 ITR 294 (SC), is distinguishable. It was observed therein that in a newly started business the value of goodwill was not ascertainable, and on sale of goodwill, capital gain

SHARAD KUMAR BHANDARI, JAIPUR,JAIPUR vs. DCIT CIRCLE (INTL TAX), JAIPUR, JAIPUR

5) of the\nAct dated 19.12.2024.\n2. As the issues in both appeals are similar, related, and were heard\ntogether by consent, they are disposed of by this common order.\n3. The hearing of the appeal was conducted after issue of proper\nnotices to both the parties with a option to attend in virtual mode or in\nphysical

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

gain as is equal to the amount, if any, by which the appropriate fraction of the amount utilised for acquiring the new asset exceeds the appropriate fraction of the cost of the transferred asset. Explanation.—In this sub- section,— (i) "appropriate fraction" means the fraction which represents the extent to which the income derived from the capital asset transferred

SMT. RENU JAIN,NEW DELHI vs. ITO, WARD 5(2), JAIPUR

In the result, the matter is decided in favour of the assessee and against the Revenue and the sole ground of appeal is allowed

2) The amount of the capital gain which is not appropriated by the assessee towards the purchase of the new asset made within one year before the date on which the transfer of the original asset took place, or which is not utilized by him for the purchase or construction of the new asset before the date of furnishing

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

2), viz. 139 and 139(1) in two different sentences. In the first sentence with reference to appropriation of un-utilised amount of 8 ITA 49/JP/2018_ Gulab Chand Meena Vs. ACIT(OSD) capital gain, section 139 is referred without mentioning any sub section. While in the second sentence with reference to deposition of amount in capital gain account, section

SH. DAL CHAND SHARMA,ALWAR vs. ITO, WARD-1(2), ALWAR, ALWAR

Capital Gain of Rs. 62,00,000/- is made,\nhowever the assessee sold the said Property for Rs. 31,00,000/-\nonly. As per assessment order the Id. AO has reopened the case\nunder section 148 on dated 27.03 2022 information fagged by the\nrisk management strategy formulated in this regard suggesting that\nincome chargeable to tax has escaped assessment