SHARAD KUMAR BHANDARI, JAIPUR,JAIPUR vs. DCIT CIRCLE (INTL TAX), JAIPUR, JAIPUR

price of flat was\nRs.2,08,00,000/-+ plus other expenditures i.e. Membership Fee, Annual Maintenance\nCharge & corpus fund etc and accordingly, assessee has claimed to make a payment\nof Rs.2,29,61,900/- through banking channels. Further, for purchase of flat following\npayments through banking channel as per details below was claimed by the assessee:\nPaid by\nPayment Date

KIRAN YADAV,JAIPUR vs. INCOME TAX OFFICER, WARD-1(3), JAIPUR, JAIPUR

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

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

Transfer Expenses 0 1000000 Less: Indexed Cost Cost of Purchase 206624 F.Y. 2007-08 101200/551*1125 Boundary Wall 347290 F.Y. 2009-10 195100/632*1125 Mitti Bharai 178802 F.Y. 2008-09 92500/582*1125 ------------------ 732716 267284 ---------- Gross Total Income 267284 Total Income 267284 Rounded off u/s 288A 267280 Adjusted total income (ATI) is not more than Rs. 20 Lakh, hence

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

price after paying the\nSecurity Transaction Tax (STT). It is also not in dispute that the purchase and\nsale of the shares were routed through banking channel. Moreover the name of\nassessee is no where enumerated by any investigation.\nAs per Income Tax Act, the treatment of long term capital gain of equity shares is\nas given here-under

PRADEEP VATRANA,ALWAR vs. DCIT, ALWAR

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

gains arising from the transfer by way of conversion by the owner of a capital asset into, or its treatment by him as, stock-in-trade of a business carried on by him shall be chargeable to income-tax as his income of the previous year in which such stock-in-trade is sold or otherwise transferred

MAHAVEER YADAV,JAIPUR vs. ITO, JAIPUR

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

transfer of capital asset. Therefore, FMV of the asset on the date of conversion as reduced by the indexed cost of acquisition is required to be assessed under the head capital gain and excess over such FMV is required to be assessed as business income. The Ld. CIT(A) has not considered the provision of this section and also

UDAI SINGH RATHORE,JAIPUR vs. ITO, JAIPUR

In the result, the appeal filed by the assessee is partly allowed

Bench: Or At The Time Of Hearing.”

transfer of the land in question which was awarded to the assessee by the Government of Rajasthan and therefore the assessee claimed that in the absence of any cost of acquisition the computation of capital gain fails and consequently no capital gain can be charged to tax in view of the decision of Hon’ble Supreme Court in case

SITA DEVI AGARWAL,JAIPUR vs. ITO, WD-4(1), JAIPUR

In the result, the appeal filed by the assessee is allowed

transferred in the name of assessee 3 Copy of demat A/c in SMC Global Securities Ltd 4.Copy of balance sheet for the financial year 2012-13 The shares Satishimanto Tradelinks Ltd. Changed name Sunrise Asian Ltd 2012-13 holding was more than 18 months therefore is correct and acceptable as such long term capital gain exemption claimed

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)

Price Waterhouse Coopers as the sales proceeds from amalgamation and calculated capital gains based on such figure. From the detailed submissions placed before me, it is seen that the word "transfer

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)

Price Waterhouse Coopers as the sales proceeds from amalgamation and calculated capital gains based on such figure. From the detailed submissions placed before me, it is seen that the word "transfer

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)

Price Waterhouse Coopers as the sales proceeds from amalgamation and calculated capital gains based on such figure. From the detailed submissions placed before me, it is seen that the word "transfer

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)

capital gain shown on sale of shares, which are as under:- ARNAV GOYAL VS ITO, WARD 2(4), JAIPUR S.No. Particulars Paper book Page No. 1. Copy of contract notes dated 10.12.2014, 42-44 25.11.2014 and 24.11.2014 regarding shares sold 2. Copy of bank passbook of the assessee 45-48 reflecting sale consideration received 3. Copy of D-MAT account

LAL CHAND MEENA,JAIPUR vs. ITO WD 5(2), JAIPUR

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

transfer of the old asset, charge of the capital gain was only on the old asset, and investment in new asset did not and could not nullify or take away the case from the charging section 45. According to the Tribunal, first it was section 45 which came into operation, then it was section 48 which provided computation of capital

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)

transfer of capital asset. Also section 45(5) of the I.T.Act, 1961 is related to capital gain in case of compulsory acquisition of land which is applicable in this case. Hence, the assessee’s theory of ‘shifting of land’ is nowhere described nor application in case in view of the facts as narrated above. 2. The compensation received

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)

transfer of capital asset. Also section 45(5) of the I.T.Act, 1961 is related to capital gain in case of compulsory acquisition of land which is applicable in this case. Hence, the assessee’s theory of ‘shifting of land’ is nowhere described nor application in case in view of the facts as narrated above. 2. The compensation received

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)

transfer of capital asset. Also section 45(5) of the I.T.Act, 1961 is related to capital gain in case of compulsory acquisition of land which is applicable in this case. Hence, the assessee’s theory of ‘shifting of land’ is nowhere described nor application in case in view of the facts as narrated above. 2. The compensation received

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)

transfer of capital asset. Also section 45(5) of the I.T.Act, 1961 is related to capital gain in case of compulsory acquisition of land which is applicable in this case. Hence, the assessee’s theory of ‘shifting of land’ is nowhere described nor application in case in view of the facts as narrated above. 2. The compensation received

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

capital gain shown on sale of shares; more relevant among them are as under:- SHRI ASHNUTH GOYAL VS ACIT, WARD 1(3), JAIPUR S.No. Particulars Paper book Page No. 1. Copy of contract notes dated 02.12.2014, 38-40 08.12.2014 and 27.11.2014 regarding shares sold 2. Copy of bank passbook of the assessee 41-43 reflecting sale consideration received 3. Copy

FEDERATION OF RAJASTHAN TRADE AND INDUSTRY,JAIPUR vs. ITO-EXEMPTION WARD-2, JAIPUR

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

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

transfer to ITO (exemption-2), Jaipur to complete scrutiny assessment in compliance to order u/s 127 of the I.T. Act, passed by CIT (Exemption), Jaipur dated 01/07/2016. Notice u/s 142(1) of the Income Tax Act, was issued on 08/07/2016 by the ITO (exemption-2). In response, Ld. AR of the assessee society attended the assessment proceedings from time