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.

Capital Gain” (Deemed total income u/s. 115JB is Rs. 4,84,39,49,080/-). The case was selected for Limited Scrutiny ACIT vs. Shree Cement Ltd. under the E-assessment Scheme, 2019 on the following flagged issues:- Sr. No. Issues i. Stock valuation ii. Income/Capital Gain on sale of land or building iii. Outward Foreign Remittance iv. Depreciation Claim

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.

Capital Gain” (Deemed total income u/s. 115JB is Rs. 4,84,39,49,080/-). The case was selected for Limited Scrutiny ACIT vs. Shree Cement Ltd. under the E-assessment Scheme, 2019 on the following flagged issues:- Sr. No. Issues i. Stock valuation ii. Income/Capital Gain on sale of land or building iii. Outward Foreign Remittance iv. Depreciation Claim

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

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

Capital Gain” (Deemed total income u/s. 115JB is\nRs. 4,84,39,49,080/-). The case was selected for Limited Scrutiny\nunder the E-assessment Scheme, 2019 on the following flagged\nissues:-\nSr. No.\nIssues\ni.\nStock valuation\nii.\nIncome/Capital Gain on sale of land or building\niii.\nOutward Foreign Remittance\niv.\nDepreciation Claim\nv.\nSales Turnover Mismatch\nvi.\nOther

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

Capital Gain” (Deemed total income u/s. 115JB is Rs. 4,84,39,49,080/-). The case was selected for Limited Scrutiny\nunder the E-assessment Scheme, 2019 on the following flagged issues:-\nSr. No.\nIssues\ni.\nii.\niii.\niv.\nv.\nvi.\nvii.\nviii.\nix.\nx.\nxi.\nxii.\nxiii.\nStock valuation\nIncome/Capital Gain on sale of land or building\nOutward Foreign

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

Capital Gain” (Deemed total income u/s. 115JB is \nRs. 4,84,39,49,080/-). The case was selected for Limited Scrutiny\nunder the E-assessment Scheme, 2019 on the following flagged \nissues:-\nSr. No.\nIssues\ni.\nii.\niii.\niv.\nv.\nvi.\nvii.\nviii.\nix.\nx.\nx1.\nxii.\nxiii.\nStock valuation\nIncome/Capital Gain on sale of land or building\nOutward Foreign

VAIBHAV GLOBAL LIMITED,JAIPUR vs. DCIT, CC-4, JAIPUR

capital gains in the hands of the \nshareholders and not charged to the company which used to result into \nincome tax payable at lower rates. This was used by the companies as a \ntool to avoid taxation and to distribute surplus income amongst \nshareholders. As an anti-tax avoidance measure, the government \nintroduced the provision of section 115QA under

SHREE CEMENT LIMITED,BANGUR NAGAR vs. ACIT, CENTRAL CIRCLE, AJMER

In the result, the appeal of the assessee - appellant in ITA No

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

Capital Services Ltd. [2000] 5 SCC 515. The legislative casus omissus cannot be supplied by judicial interpretative process 13.8 He also serviced the decision of Hon’ble Apex Court in Smt. Tarulata Shyam -vs.- CIT (1977) 108 ITR 345 (SC) wherein it has been held that: “It is urged that the principle in the last limb of sub-section

SHREE CEMENT LIMITED,BEAWAR vs. PR.CIT, , UDAIPUR

In the result, the appeal of the assessee is allowed

Bench: Shri Sandeep Gosain, Jm & Shri Vikram Singh Yadav, Am Vk;Dj Vihy La-@Ita No. 04/Jp/2021 Assessment Year: 2014-15 Shree Cement Limited, Cuke Pr.Cit, Vs. Bangur Nagar, Post Box No. 33, Udaipur. Beawar. Pan No.: Aaccs 8796 G Vihykfkhz@Appellant Izr;Fkhz@Respondent Fu/Kzkfjrh Dh Vksj Ls@ Assessee By: Shri Dilip Desai (Ca) Shri Vijay Shah (Ca) Shri Mohit Choudhary (Ca) Jktlo Dh Vksj Ls@ Revenue By : Shri B.K. Gupta (Cit-Dr) Lquokbz Dh Rkjh[K@ Date Of Hearing : 01/04/2021 Mn?Kks"K.Kk Dh Rkjh[K@ Date Of Pronouncement : 23/06/2021 Vkns'K@ Order Per: Sandeep Gosain, J.M. The Present Appeal Has Been Filed By The Assessee Against The Order Of Ld. Pcit, Udaipur Dated 03.02.2021 Passed U/S 263 Of The Income Tax Act, 1961 (In Short The Act) For The Assessment Year 2014-15. The Grounds Of Appeal Taken By The Assessee Are As Under: “1. That On The Facts & In The Circumstances Of The Case, The Learned Principal Commissioner Of Income Tax – Udaipur, (Here- In- After Referred To As Ld. Pr. Cit) Was Not Justified In Initiating Proceedings U/S 263 Of The Income Tax Act, 1961 Since The Order Passed By The Assessing Officer (A.O.) Was Neither Erroneous Nor Prejudicial To The Interest Of The Revenue.

method of valuation of the shares was submitted to the Assessing Officer during the proceedings, leading to the assessment order. It, therefore, appeared that the Assessing Officer after having asked a pertinent question of the method of valuing unlisted shares did not pursue that line of enquiry. Thus, this was a case of non-enquiry and not inadequate enquiry. Therefore

ACIT, CENTRAL CIRCLE, AJMER, AJMER vs. WONDER CEMENT LTD, MADANGANJ-KISHANGARH

In the result Ground No. 2 raised by the assessee is allowed

Bench: Shri Gagan Goyal & Shri Narinder Kumar

method, based on the average price charged by the AVVNL to the cement plant, i.e. Rs. 7.40 per unit. Whereas the TPO, benchmarked the transaction based on the supplies made by the Sasan Power Ltd., Shree Cement Ltd., Coastal Gujarat Tata/ NTPC/ PTC and Reliance etc. 6. Similar issue has been discussed by various coordinate benches and Hon’ble Jurisdictional

SH. MAHENDRA KUMAR GOYAL,SIKAR vs. ACIT, CENTRAL CIRCLE-3, JAIPUR, JAIPUR

In the result of the appeal of the assessee are disposed off as under

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

capital gains tax was not leviable but tax was leviable on interest earned on the amount awarded on year to year basis. 4. The appellant through counsel sent a letter dated 17-9-1993 informing the ITO that he had received interest amount of Rs. 76,84,829 and interest accrued from year to year was assessable in each year

SH. MAHENDRA KUMAR GOYAL,SIKAR vs. ACIT, CENTRAL CIRCLE-3, JAIPUR, JAIPUR

In the result of the appeal of the assessee are disposed off as under

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

capital gains tax was not leviable but tax was leviable on interest earned on the amount awarded on year to year basis. 4. The appellant through counsel sent a letter dated 17-9-1993 informing the ITO that he had received interest amount of Rs. 76,84,829 and interest accrued from year to year was assessable in each year

SH. MAHENDRA KUMAR GOYAL,SIKAR vs. ACIT, CENTRAL CIRCLE-3, JAIPUR, JAIPUR

In the result of the appeal of the assessee are disposed off as under

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI, आंकड़ुठरधारी आइटीएए सं.र@ITA Nos.493, 495 to 498, 500/JP/2025 निर्धारण वर्ष@Assessment Years : 2014-15 to 2016-17, 2018-19 to 2020-21 Mahendra Kumar Goyal चुके Vs. ACIT/DCIT Ward No. 2, Shahpura Road Neem Ka Thana, Sikar Central Circle-03, Jaipur लेखा संख्याल्लेय सं.जीआइआर सं.पान@PAN/GIR No.: ACFPG0306G अपीलार्थी@Appellant प्रत्यार्थी@Respondent निर्धारीती की आर से@ Assessee by : Shri P. C. Parwal, CA राजस्व की आर से@ R

capital gains tax was not leviable but tax was leviable on interest earned on the amount awarded on year to year basis. 4. The appellant through counsel sent a letter dated 17-9-1993 informing the ITO that he had received interest amount of Rs. 76,84,829 and interest accrued from year to year was assessable in each year

SH. MAHENDRA KUMAR GOYAL,SIKAR vs. ACIT, CENTRAL CIRCLE-3, JAIPUR, JAIPUR

In the result of the appeal of the assessee are disposed off as under

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

capital gains tax was not leviable but tax was leviable on interest earned on the amount awarded on year to year basis. 4. The appellant through counsel sent a letter dated 17-9-1993 informing the ITO that he had received interest amount of Rs. 76,84,829 and interest accrued from year to year was assessable in each year