NIKHIL KHANDELWAL,KOTA vs. ITO WD-2(2), KOTA

In the result, the appeal of the assessee is allowed

Bench: The Hearing.”

section 71 which states that 71 (2) Where in respect of any assessment year, the net result of the computation under any head of income, other than "Capital gains

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)

71,725/- earned from sale of these shares was declared in the return of income and as shares were of listed public limited company, sold through recognized stock exchange after holding for a period of more than one year and due STT [Securities Transaction Tax] was paid, long term capital gain was claimed exempt u/s 10(38) of Income

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

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

71,80,672\n(Capital\nGain)\nmultiplied\nby\n27,50,000\n(Amount\ninvested\nor\ntransaction\nvalue) divided\nby 76,38,967\n(Net\nConsideration)\n=7180672*27500\n00/7638967\n|Invested\namount only\n|4,430,672\n|23,25,295\n(Capital\nGain)\nmultiplied\nby\n27,50,000\n(Amount\ninvested\nor\ntransaction\nvalue) divided

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 asset within the meaning of section 2(14) of the I.T. Act, 1961. Accordingly capital gain tax is leviable on compulsory acquisition of the land. In this connection it is submitted that the above said finding of the ld. AO was based on the enquiries made from the Tehsildar, Sanganer vide his letter dated 14.11.2019 and 15.11.2019 and also

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 asset within the meaning of section 2(14) of the I.T. Act, 1961. Accordingly capital gain tax is leviable on compulsory acquisition of the land. In this connection it is submitted that the above said finding of the ld. AO was based on the enquiries made from the Tehsildar, Sanganer vide his letter dated 14.11.2019 and 15.11.2019 and also

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 asset within the meaning of section 2(14) of the I.T. Act, 1961. Accordingly capital gain tax is leviable on compulsory acquisition of the land. In this connection it is submitted that the above said finding of the ld. AO was based on the enquiries made from the Tehsildar, Sanganer vide his letter dated 14.11.2019 and 15.11.2019 and also

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 asset within the meaning of section 2(14) of the I.T. Act, 1961. Accordingly capital gain tax is leviable on compulsory acquisition of the land. In this connection it is submitted that the above said finding of the ld. AO was based on the enquiries made from the Tehsildar, Sanganer vide his letter dated 14.11.2019 and 15.11.2019 and also

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

In the result, the appeal of the assessee is allowed

section 41(1) was not applicable and amount was not assessable as income of assessee – Tribunal observed that deed of dissolution was not on record and that it would be necessary to examine relevant provisions of State Sales Tax Act and Rules to know as to who would be entitled to refund – Accordingly, Tribunal remanded matter to 14 Nirmal Kumar

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

In the result, appeal of the assessee stands allowed

71 TTJ 662\nIn view of the above, this contention of the appellant is accepted and\nthe data available in public domain is admitted subject to verification\nand examination.\nOn merits the appellant has referred to definition of \"agricultural land\"\nas per clause (i) of section 2(14) of the Income Tax Act and submitted\nthat as per section

RAM SHRAN KATTA, 257, KATTA STREET, JAIN MANDIR WALI GALI, DURGAPURA, JAIPUR,JAIPUR vs. ITO WARD-6(4), JAIPUR

In the result, the appeals of the assessee are allowed

section 50C and adopted the sale consideration of Rs. 23,06,888 instead of\nactual sale consideration of Rs. 18,91,000. The assessee disputed the Stamp Duty\nValuation, but ld. AO, without referring the valuation to DVO, computed the gains,\nw.r.t. Stamp Duty Valuation.\n1.5\nIn addition to above, ld. AO observed that expenses incurred

RAM SHARAN KATTA, 257, KATTA STREET, JAIN MANDIR WALI GALI, DURGAPURA, JAIPUR,JAIPUR vs. ITO WARD-6(4), JAIPUR, WARD-6(4), JAIPUR

In the result, the appeals of the assessee are allowed

section 50C and adopted the sale consideration of Rs. 23,06,888 instead of\nactual sale consideration of Rs. 18,91,000. The assessee disputed the Stamp Duty\nValuation, but ld. AO, without referring the valuation to DVO, computed the gains,\nw.r.t. Stamp Duty Valuation.\n1.5\nIn addition to above, ld. AO observed that expenses incurred

SUMIT GOEL,JAIPUR vs. INCOME TAX OFFICER , JAIPUR

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

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

71,917/- is placed on paper book page no. 20. The copy of demat ledger is on paper book page no. 16 where 112000 shares was credited on 23.02.2012 in demat account of the assessee and debited on 24.03.2012. The assessee has purchased these shares from M/s Mradul Securities Pvt Ltd 912/59, Lekhu Nagar, Tri Nagar, Delhi-110035. The ledger

DINESSH KUMAR SHARMA,JAIPUR vs. ITO, WARD4(2), JAIPUR

In the result, appeal of the assessee is allowed

capital gains (LTCG) of Rs.15,95,000/-\n, which has not been found genuine and verifiable from the return of income on\nprima facie verification. In response to the notice under section 148 of the IT Act,\nthe appellant e-filed return of income on 17.03.2021 declaring total income at Rs.\n2,76,990/- for the AY 2013-14. Thereafter

SHRI MANOJ KUMAR,JAIPUR vs. INCOME TAX OFFICER, JAIPUR

In the result, the ground of appeal is allowed for statistical purposes

71,33,625/- and Rs.2,11,40,805/- instead of Rs.1,23,00,000/- and Rs.77,00,000/- respectively as declared by the appellant and a show-cause was issued to the appellant as to why the value so determined by the stamp duty authority be not adopted for the purposes of computation of capital gains as per section

VIRENDRA SINGH BHADAURIA,JAIPUR vs. PR. CIT-3, , 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. 255/Jp/2020 Assessment Year: 2015-16 Virendra Singh Bhadauriya, Cuke Pr.Cit-3, Vs. 71, Mansa Nagar, Shirsi Road, Jaipur. Jaipur-302012. Pan No.: Aaepb 0767 F Vihykfkhz@Appellant Izr;Fkhz@Respondent Fu/Kzkfjrh Dh Vksj Ls@ Assessee By : Ms. Datyani Pandey (Adv) & Shri Rajiv Pandey (Ca) Jktlo Dh Vksj Ls@ Revenue By : Shri B.K. Gupta (Cit-Dr) Lquokbz Dh Rkjh[K@ Date Of Hearing : 10/02/2021 Mn?Kks"K.Kk Dh Rkjh[K@ Date Of Pronouncement : 25/03/2021 Vkns'K@ Order Per: Sandeep Gosain, J.M. The Present Appeal Has Been Filed By The Assessee Against The Order Of The Ld. Pr.Cit-3, Jaipur Dated 16/03/2020 Passed U/S 263 Of The Income Tax Act, 1961 (In Short, The Act) For The A.Y. 2015-16. The Assessee Has Raised Following Grounds Of Appeal: “1. On The Facts & Circumstances Of The Case Ld. Pr. Commissioner Of Income Tax-3, Jaipur Erred In:- Ground No.1:- In Holding That The Assessment Order Dt.26.12.2017 Passed U/S 143(3) By Assessing Officer To Be Erroneous In So Far As Is Prejudicial To Interest Of Revenue On Issues Of 2

71, Mansa Nagar, Shirsi Road, Jaipur. Jaipur-302012. PAN No.: AAEPB 0767 F vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@ Assessee by : Ms. Datyani Pandey (Adv) & Shri Rajiv Pandey (CA) jktLo dh vksj ls@ Revenue by : Shri B.K. Gupta (CIT-DR) lquokbZ dh rkjh[k@ Date of Hearing : 10/02/2021 mn?kks"k.kk dh rkjh[k@ Date of Pronouncement

DCIT, CENTRAL CIRCLE-2, JAIPUR, JAIPUR vs. KAMLAPRABHA L/H OF LATE SHRI GOPAL LAL JI GOSWAMI, KOTA

In the result, the appeal of the revenue is dismissed and the Cross objection of the assessee is disposed off in terms of the observation made herein above

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

Section 153C of the Income-tax Act, 1961 - Search and seizure - Assessment of any other person (Validity of) - Assessment year 2007- 08 - In appellate proceedings, Tribunal recorded a finding that satisfaction for initiation of proceedings under section 153C was recorded by Assessing officer on 02-02-2015 - Tribunal thus opined that Assessing Officer could not have initiated and passed

SAJJAD ALI,CHITTORGARH vs. DCIT(INTL)- JAIPUR, JAIPUR

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

gain from sale of flat—Assessee has reflected that same in its capital account—Further in response to letter issued by AO during assessment proceedings, assessee submitted his reply explaining reason for increase in capital—However, Pr. CIT exercising jurisdiction under section 263, directed AO to make fresh assessment on issues which were not subject matter of limited scrutiny—Since

ASSISSTANT COMMISSIONER OF INCOME TAX, AJMER vs. SHREE CEMENT LTD, BEAWAR

Accordingly, the same is dismissed

gain for the purposes of assessment under section 115J. Both judgements are rendered in the context of Section 115J which does not contain a provision analogous to sub sections (4) of section 115JA or (5) of section 115JB of the Act. Thus while an assessment u/s 115J would be concluded exclusively on the basis of the book profits as adjusted