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 Gain of Rs.3,78,74,469/- (PB5). 2. In the first round, the case was selected for scrutiny supposedly, on the issue of examination of LTCG. Notices u/s 143(2) dt.18.09.2015 and thereafter notice u/s 142(1) were issued time to time which were duly replied and assessment was completed vide order

PRAMOD KASLIWAL,JAIPUR vs. ITO WD. 6(2) , BHAGWAN DASS ROAD, JAIPUR

Appeals of the assessee are allowed statistically

Bench: Ld. Cit/Nfac.

Capital Gains declared before claiming deduction u/s 54 of ITA 5. Further the reference of date of 22.06.2008 which was the date of demise of Mother is again misconceived since the asset was received in family partition and/or Will of father who died on 12.08.1987 which land he ( Late Pramod Kasliwal, Jaipur vs. ITO, Jaipur Father) acquired on 17th

PRAMOD KASLIWAL,JAIPUR vs. ITO WD. 6(2) , NEW CENTRAL REVENUE BUILDING, BHAGWAN DASS ROAD, JAIPUR 302005

Appeals of the assessee are allowed statistically

Bench: Ld. Cit/Nfac.

Capital Gains declared before claiming deduction u/s 54 of ITA 5. Further the reference of date of 22.06.2008 which was the date of demise of Mother is again misconceived since the asset was received in family partition and/or Will of father who died on 12.08.1987 which land he ( Late Pramod Kasliwal, Jaipur vs. ITO, Jaipur Father) acquired on 17th

AJAY AGARWAL,JAIPUR vs. CIT (IT), DELHI-1, CIT(IT) DELHI

In the result, the appeal of the assessee is allowed

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

Capital gain. Proofs of Purchase, payment of instalments, TDS by him on purchase consideration, sale consideration received, TDS made by the buyer

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-3, JAIPUR vs. M/S HANUMAN TUBE WELL CO., JAIPUR

In the result, the appeal of the Revenue as well as assessee are dismissed

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

capital gains, the loss increases to Rs. 3,57,56,342/- The A.O, issued a notice proposing rejection of the books of accounts, highlighting discrepancies like- -non maintenance of stock register; -no day to day quantity details; -some discrepancies pointed out in the Audit report related to debtors & creditors etc. -claim of depreciation on 'Mata Sukh' project but no income

ASHOK KUMAR JAIN,KOTA vs. ITO WD-2(1), KOTA, KOTA

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

capital gains. The action of the A.O. in denying the\nsame is therefore in accordance with the provisions of law and hence upheld. This ground\nof appeal raised by the appellant is thus dismissed.\n5.1 The second ground of appeal raised by the appellant read as under.\n\"That the learned AO erred in facts and law by not considering

TEJ PAL SINGH,REENGUS vs. INCOME TAX OFFICER, WARD NEEM KA THANA, NEEM KA THANA

Appeal of the assessee is allowed for statistical purposes

Bench: Me That The Capital Gain Earned On This Land Acquired By Nhai Was Exempt In Terms Of Provision Section 10 Sub-Section (37) Of The Act. He Drew My Attention To The Relevant Provision Of Section 10(37) Of The Act As Under:-

capital gains, is restored back to the file of the AO to be re-determined in the light of the directions as above. Hence, ground of appeal No.1 raised by the assessee is allowed for statistical purposes. 6 Tejpal Singh 15. Ground of Appeal No.2 reads as under:- 2. On the facts and circumstances of the case

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

SIYARAM EXPORTS INDIA PVT. LTD.,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, JAIPUR

Capital gains - Special\nprovision for computation of full value of consideration in certain cases [Reference\nto Valuation Officer] - Assessment year 2009-10 - Assessee earned short term\ncapital gain on sale of property - Assessee made a claim before Assessing Officer\nthat value adopted or assessed by stamp valuation authority was higher than fair\nmarket value - Value adopted by stamp valuation authority

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

Capital gains - Special\nprovision for computation of full value of consideration in certain cases [Reference\nto Valuation Officer] - Assessment year 2009-10 - Assessee earned short term\ncapital gain on sale of property - Assessee made a claim before Assessing Officer\nthat value adopted or assessed by stamp valuation authority was higher than fair\nmarket value - Value adopted by stamp valuation authority

SIYARAM EXPORTS INDIA PRIVATE LIMITED,JAIPUR vs. ITO WARD 6(4), JAIPUR, JAIPUR

Capital gains - Special\nprovision for computation of full value of consideration in certain cases [Reference\nto Valuation Officer] Assessment year 2009-10 - Assessee earned short term\ncapital gain on sale of property - Assessee made a claim before Assessing Officer\nthat value adopted or assessed by stamp valuation authority was higher than fair\nmarket value - Value adopted by stamp valuation authority

MADAN LAL CHOUDHARY,JAIPUR vs. ITO-7(1), JAIPUR

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

capital gain but offer consideration of\nRs.75,00,000/- as exempt u/s 10(37) of the Income Tax Act, 1961\nin ITR and claimed the TDS

M/S WHOLESALE CLOTH MERCHANT,KOTA vs. PR. COMMISSIONER OF INCOME TAX (CENTRAL), RAJASTHAN, 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. 688/Jp/2019 Assessment Year: ………………………… M/S Wholesale Cloth Merchant Cuke Pr.C.I.T. (Central), Vs. Association, Jaipur (Rajasthan) New Cloth Market, Kota. Pan No.: Aaatw 0127 C Vihykfkhz@Appellant Izr;Fkhz@Respondent Fu/Kzkfjrh Dh Vksj Ls@ Assessee By : Shri Siddarth Ranka & Shri Shravan Kr. Gupta (Advs) Jktlo Dh Vksj Ls@ Revenue By : Shri Ambrish Bedi (Cit-Dr) Lquokbz Dh Rkjh[K@ Date Of Hearing : 14/10/2020 Mn?Kks"K.Kk Dh Rkjh[K@ Date Of Pronouncement : 06/01/2021 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(Central), Rajasthan, Jaipur Dated 22/03/2019 Passed U/S 12Aa(3) & 12Aa(4) Of The Income Tax Act, 1961 (In Short, The Act). Following Grounds Have Been Taken By The Assessee: “1. That In The Facts & In The Circumstances Of The Case & In Law, The Ld Pr. Cit(Central), Rajasthan, Jaipur Has Grossly Erred In Cancelling The Registration Of The Assessee Appellant Trust Under Section 12A Of The Act By Invoking Section 12Aa(4) Of The Act W.E.F. 01/04/2013. 2. The Appellant Craves Leave To Add, Alter, Modify Or Amend Any Ground On Or Before The Date Of Hearing.”

TDS provisions have not been complied properly. Therefore, the assessee is not entitled for claiming exemption under section 11 to 13 of the I.T. Act, 1961. It was also submitted by the ld CIT-DR that in view of above findings, the activities of the assessee Trust falls under the purview of Section 12AA

AU SMALL FINANCE BANK LIMITED,JAIPUR vs. PRINCIPAL COMMISSIONER OF INCOME TAX, JAIPUR-1

In the result both the appeals filed by the assessee in ITA

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

TDS. The assessee is a Non-Banking Finance Company which is engaged in the business of providing small loans, vehicle loans, small and medium enterprises loans in rural and semi-urban areas, issuing debentures etc. It is noted from the assessment order that due to change of incumbent, notice u/s 142(1) along with the questionnaire was issued

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

SHREE CEMENT LIMITED,BEAWAR vs. NATIONAL FACELESS ASSESSMENT CENTRE, DELHI

In the result, the appeal of the Revenue in ITA No

Bench: or at the time of hearing of this appeal.

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

SHREE CEMENT LIMITED,BEAWAR vs. NATIONAL FACELESS ASSESSMENT CENTRE, DEPUTY COMMISSIONEROF INCOME TAX, CIRCLE -2, AJMER, AJMER

In the result, the appeal of the Revenue in ITA No

Bench: or at the time of hearing of this appeal.

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

PRAKASH SHARMA,JAIPUR vs. INCOME TAX OFFICER, ALWAR

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

Bench: SHRI MANISH BORAD (Accountant Member), DR. S. SEETHALAKSHMI (Judicial Member)

capital gains are assessable in his hands. Copy of affidavit as filed before the Learned CIT(A) is available on Paper Book Page No.12. GROUND No.4 In the facts and circumstances of the case and in law, learned CIT(A) has erred in dismissing the appeal by confirming the addition of Rs. 4,14,304/- as salary income without obtaining

SHREE CEMENT LIMITED,BEAWAR vs. DEPUTY COMMISSIONER OF INCOME TAX, AJMER

In the result, this appeal of the assessee is partly allowed and appeal of the Revenue is dismissed

Bench: HON’BLE SHRI SANDEEP GOSAIN, JM & HON’BLE SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

capital gains can be allowed while computing book profits as per section 115JB of the Act. In that context, the Hon’ble Madras High Court has held that section 115JB is a self-contained code of assessment and the levy of tax is on the book profits after effecting various adjustments as set out in terms of explanation thereto