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

In the result, the appeal of the assessee is allowed

capital gain of Rs.15,72,409/- and not on entire value of transactions i.e. 86,31,724/-. Appellant prays that shares were purchased Online, through banking channels and were duly recorded in books of accounts, thus source of the same was explained and addition so made is absolutely unwarranted and deserves to be deleted. 3.1 That, Ld.CIT(A) has further

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

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 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

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)

sections 45 and 2(47) of the Act. With the said observations and findings, the Assessing Officer decided to withdraw short term capital loss of Rs. 3,91,92,69,355/- claimed by the assessee company, and further directed that the assessee company shall pay tax on LTCG and STCG in the manner as:- S. No. Particulars Amount

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)

sections 45 and 2(47) of the Act. With the said observations and findings, the Assessing Officer decided to withdraw short term capital loss of Rs. 3,91,92,69,355/- claimed by the assessee company, and further directed that the assessee company shall pay tax on LTCG and STCG in the manner as:- S. No. Particulars Amount

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)

sections 45 and 2(47) of the Act. With the said observations and findings, the Assessing Officer decided to withdraw short term capital loss of Rs. 3,91,92,69,355/- claimed by the assessee company, and further directed that the assessee company shall pay tax on LTCG and STCG in the manner as:- S. No. Particulars Amount

INCOME TAX OFFICER, WARD-1-5, JAIPUR vs. SHRI BANWARI LAL SHARMA, JAIPUR

In the result, both the appeals filed by the assessee and Revenue are disposed off in light of aforesaid directions

section 50C of the Income Tax Act, 1961. On the other hand, in the case of purchasers i.e. Sh. Vivek Gupta and Sh. Ashish Gupta, assessments were completed u/s 147 / 143(3) of the Act and addition on account of capital gain of Rs. 6,34,62,356/- was made on substantive basis. 9. Against the order

SHRI BANWARI LAL SHARMA,JAIPUR vs. INCOME TAX OFFICER, WARD-1-5, JAIPUR

In the result, both the appeals filed by the assessee and Revenue are disposed off in light of aforesaid directions

section 50C of the Income Tax Act, 1961. On the other hand, in the case of purchasers i.e. Sh. Vivek Gupta and Sh. Ashish Gupta, assessments were completed u/s 147 / 143(3) of the Act and addition on account of capital gain of Rs. 6,34,62,356/- was made on substantive basis. 9. Against the order

BHARATPUR ROYAL FAMILY RELIGIOUS & CEREMONIAL TRUST,BHARATPUR vs. CIT(E), JAIPUR

In the result, we upheld the order of the ld PCIT in exercise of his powers u/s 263 in setting aside the order so passed by the AO and the grounds of appeal taken by the assessee are hereby dismissed

capital gain is concerned. Even the provisions of section 55 are also applicable for assigning the meaning of cost of any improvement. This land in question was a contribution by the Settler for creating the Trust in question and thus it is part of the corpus of the Trust and a property held under Trust. Therefore, being a Public trust

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

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

capital gain from sale of inherited properties on 19-1-2012. The assessee e-filed his return of income for the assessment year 2012-13 on 28.07.2012 declaring the total income of Rs. 13,98,900. The assessment was completed under section 143(3) vide order dated 11.03.2015 at a total income of Rs. 67,72

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

In the result, appeal of the assessee is allowed

capital gains. In the present case, reopening under section 147 has been done\nwithout linking information received from Investigation Wing of Department to actual facts in\nthe appellant's case.\n\n2. Legal position in this regard-\n\n2.1 In this regard, provisions of section 147 are reproduced hereunder for your ready reference-\n\n\"If the Assessing Officer

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

sections 45 and 2(47) of the Act.\nWith the said observations and findings, the Assessing Officer\ndecided to withdraw short term capital loss of Rs.3,91,92,69,355/- claimed\nby the assessee company, and further directed that the assessee company\nshall pay tax on LTCG and STCG in the manner as:-\nS. No.\nParticulars\nAmount in Rs.\n024

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

sections 45 and 2(47) of the Act.\nWith the said observations and findings, the Assessing Officer\ndecided to withdraw short term capital loss of Rs.3,91,92,69,355/- claimed\nby the assessee company, and further directed that the assessee company\nshall pay tax on LTCG and STCG in the manner as:-\nS. No.\nParticulars\nAmount in Rs.\n024

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

RAM KHILARI MEENA,DAUSA vs. ITO, DAUSA, DAUSA

In the result, the appeal of the assessee is allowed

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

72,114/- from Long Term capital gain earned on sale of land and building at his village, along with other income. During assessment proceeding assessee - appellant had provided all relevant details as asked by ld. AO. The ld. AO upon satisfaction about the source of cash deposit in the bank account and did not make any addition on this account

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

ITO, WARD-1, BHARATPUR vs. SHRI MADAN LAL SHARMA, JAIPUR

In the result, appeal filed by the revenue is allowed statistically and

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

Capital Gains, eligible to tax, in the hands of the assessee. 3.3. Even ld. AO, in his remand report, submitted to the ld. CIT(A) accepted the fact that the property was never transferred to the assessee. In this regard, the remand report of the ld. AO, reproduced by the ld. CIT(A) at Page 5-6 of his order