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.

7-3-2006 and earned capital gain of Rs. 9.98 lakh - It booked a new flat with a builder and claimed exemption under section 54 - Assessing Officer denied exemption on ground that assessee could neither prove possession of residential flat within a period of two years from date of transfer of old flat nor had deposited unutilized capital gain

BIRENDRA SINGH NIRBHAY,SIRSI ROAD JAIPUR RAJASTHAN vs. ITO WARD 3(1) JAIPUR, NCRB INCOME TAX DEPARTMENT STATUE CIRCLE JAIPUR RAJASTHAN

In the result, the appeal of the assessee is allowed

7-03-2018Brief facts are that the assessee is an individual and\nengaged in the business of retail sale of IMFL/Beer. During the assessment\nproceeding the AO noted that the assessee has shown long term capital gain of\nRs.1,32,56,113/- which is claimed as exempt u/s 10(38) of the Act on sale of\nshares

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)

7 “Nobody can have the shares in his own name in D-mat Account without acquiring or allotment through due process hence, except the purchase consideration paid by the assessee holding of shares cannot be doubted when the assessee has produced all the relevant record of issuing of allotment of shares, payment of share application money through bank, share certificate

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

In the result, the appeal of the assessee is allowed

7. The Tribunal allowed the appeal on appreciation of evidence adduced by respondent and considering that no contrary material produced by the department. No case is made out for interference. Moreso, when there is no case pleaded of perversity. No questions of law much less the substantial questions of law arises. 8. The appeal is dismissed.” Hon’ble Jaipur bench

SHRI ASHNUTH GOYAL,JAIPUR vs. ACIT, WARD -1(3), JAIPUR

In the result, the appeal of the assessee is allowed

Bench: Him. Thus, The Addition Of Rs. 30,04,864/- So Uphold Deserves To Be Deleted. Shri Ashnuth Goyal Vs Acit, Ward 1(3), Jaipur

7 “Nobody can have the shares in his own name in D-mat Account without acquiring or allotment through due process hence, except the purchase consideration paid by the assessee holding of shares cannot be doubted when the assessee has produced all the relevant record of issuing of allotment of shares, payment of share application money through bank, share certificate

CHANDRA PRAKASH JAIN,JAIPUR vs. CIRCLE 1, JPR, JAIPUR

In the result, ground raised by the assessee is partly allowed

Bench: Shri Gagan Goyal & Shri Narinder Kumar

7. Back ground of the Investee company, i.e. M/s Twenty First Century India Ltd.The main source of income of the assessee is income from rent and interest under the head income from house property and income from other sources respectively.During the year, the assessee had shown an exempt income under the head capital gain (STT) u/s. 10(38) amounting

RAJRAJESHWARI GUPTA ,KOTA vs. ITO , WARD 1(1),KOTA, KOTA

In the result, the appeal of the assessee is allowed with no orders as to costs

Bench: Hon’ble SHRI SANDEEP GOSAIN (Judicial Member)

94,648/-. The case was reopened and notice u/s 148 was issued on 29.09.2016. Details and information sought by AO were furnished and the assessment was finalized u/s 143(3) r.w.s. 147, on 22.12.2017 assessing an income of Rs.13,50,560/- , thereby creating a demand of Rs.4,13,070/-, after making addition u/s 68 to the tune

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

capital gain tax, it was duty of the assessee as an agent and representative assessee of the seller which assessee failed to make payment of tax.” which in effect, demonstrate consistent application of and in continuation of the earlier orders passed in the capacity of the representative assessee. Further, as rightly pointed out by the ld CIT(A), mere mentioning

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

capital gain tax, it was duty of the assessee as an agent and representative assessee of the seller which assessee failed to make payment of tax.” which in effect, demonstrate consistent application of and in continuation of the earlier orders passed in the capacity of the representative assessee. Further, as rightly pointed out by the ld CIT(A), mere mentioning

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

94-106), Hon'ble Delhi\nHigh Court observed that as on the date of the search, no assessment proceedings were\npending for AYs 2002-03, 2005-06 and 2006-07. For the said AYs, assessments had\nalready been made under Section 143(1) of the Act. Further Hon'ble Delhi High Court\nsummarizing the legal position qua assessments under section

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

94-106), Hon'ble Delhi\nHigh Court observed that as on the date of the search, no assessment proceedings were\npending for AYs 2002-03, 2005-06 and 2006-07. For the said AYs, assessments had\nalready been made under Section 143(1) of the Act. Further Hon'ble Delhi High Court\nsummarizing the legal position qua assessments under section

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)

94,534/-, made by the Assessing Officer on account of disallowance of interest , u/s 36(1)(iii) of the Act. Club Expenses o6 ITA No. 1090, 1097 TO 1099 & 1091/JPR/2024 Chambal Fertilizers and Chemicals Ltd., Kota Department has also challenged the impugned order whereby Learned CIT(A) deleted addition of Rs. 16,25,226/-, made by the Assessing Officer, while

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)

94,534/-, made by the Assessing Officer on account of disallowance of interest , u/s 36(1)(iii) of the Act. Club Expenses o6 ITA No. 1090, 1097 TO 1099 & 1091/JPR/2024 Chambal Fertilizers and Chemicals Ltd., Kota Department has also challenged the impugned order whereby Learned CIT(A) deleted addition of Rs. 16,25,226/-, made by the Assessing Officer, while

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)

94,534/-, made by the Assessing Officer on account of disallowance of interest , u/s 36(1)(iii) of the Act. Club Expenses o6 ITA No. 1090, 1097 TO 1099 & 1091/JPR/2024 Chambal Fertilizers and Chemicals Ltd., Kota Department has also challenged the impugned order whereby Learned CIT(A) deleted addition of Rs. 16,25,226/-, made by the Assessing Officer, while

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)

Capital Gains i.e. LTCG of Rs.4,44,60,476 LTCG declared by the assessee was Rs.0 as against that assessed by the Assessing 4 Officer at Rs.4,44,60,476, including Rs.4,30,51,976 on account of index cost of acquisition and Rs. 14,08,500 by making a disallowance of the index cost of improvement which relates

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

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

7. After considering the reply of the assessee as well as the facts and circumstances of the case as stated above, the assessment order passed by the Assessing officer under the provisions of section 147/144 of the Act dated 26.03.2022 is hereby set aside and the AO is directed to pass an order afresh after verifying the claim of assessee

KARUNA JAIN,JAIPUR vs. ITO WD 2(1), JPR, JAIPUR

In the result, grounds raised by the assessee are dismissed

Bench: Shri Gagan Goyal & Shri Narinder Kumar

94,676/- 6. In view of the above table the average price of purchase of each shares was Rs. 35/- whereas average price of sale was 593/-, i.e. there is an appreciation of 1690% which is apparently unbelievable and exponential. The audited financial results of M/s. HBL are as under from F.Ys. 2007-08 to 2015-16:- 7 7

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

SHRI SATISH CHANDRA KATTA,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, JAIPUR

capital gain on sale of property - Assessee made a claim before\nAssessing Officer that value adopted or assessed by stamp valuation authority\nwas higher than fair market value - Value adopted by stamp valuation authority\nhad not ever been disputed by assessee in any appeal or revision or otherwise to\nany other authority or Court as referred to in section