PREM PRAKASH AGARWAL,NAYA BAZAR AJMER vs. DCIT CENTRAL CIRCLE AJMER, JAIPUR ROAD AJMER

In the result, three appeals of the assessee are allowed

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

capital gain on sale of shares. Therefore, the documents which were found and seized during the course of search and seizure action contains the details of LTCG would not be regarded as incriminating material disclosing any income not recorded in the books of account. Hence the primary condition for treating such income as undisclosed

R P WOOD PRODUCTS PVT LTD ,NAYA BAZAR AJMER vs. DCIT CENTRAL CIRCLE AJMER, JAIPUR ROAD AJMER

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

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

income not recorded in the books of account. Hence the primary condition for treating such income as undisclosed income in terms of section 271AAB is not satisfied. Apart from the fact that these transactions were duly recorded in the books of account, the assessee has also produced relevant documents, the details of which are as under :— (A) IN RELATION

DCIT CENTRAL CIRCLE AJMER, AJMER vs. YASHWANT KUMAR SHARMA, AJMER

In the result, the appeal of the revenue is dismissed and the cross

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;dj vihy la-@ITA No. 210/JP/2023 fu/kZkj.k o"kZ@Assessment Years : 2020-21 DCIT, Central Circle, Ajmer cuke Vs. Yashwant Kumar Sharma F-108, Industrial Area, Makhupura Parbatpura, Ajmer LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: ASWPS 3791 E vihykFkhZ@Appellant izR;FkhZ@Respondent vk;dj vihy la-@C.O. No. 04/JP/2023 (Arising out of ITA Nos. 210/JP/2023) fu/kZkj.k o"kZ@Assessment Years : 2020-21 Yashwant Kumar Sharma

undisclosed income of the assessee. 9.2 In the order of levying the penalty the ld. AO stated that had search not been conducted additional income would not have been detected and thus he holds that the declaration of the additional income was not voluntary. The ld. AO relying on the decision in the case of CIT vs. Rakesh Suri

JOINT COMMISSIONER OF INCOME TAX, AJMER vs. M/S R.P.WOOD PRODUCTS PVT. LTD., , AJMER

In the result, appeal of the assessee is allowed

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

capital gain on sale of shares. Therefore, the documents which were found and seized during the course of search and seizure action contains the details of LTCG would not be regarded as incriminating material disclosing any income not recorded in the books of account. Hence the primary condition for treating such income as undisclosed

BITTHAL DAS PARWAL,JAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-3, JAIPUR

In the result,the appeals of the assessee are dismissed

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

capital gain and other sources. A search u/s 132 of the Act was carried out on 07.01.2016 in the Shri Bitthal Das Parwal & Ors. vs. ACIT case of Dilip Maihar Group in which assessee was also covered. The assessment u/s 143(3) r.w.s. 153B(1)(b) of the IT Act was completed on 29.12.2017. The Ld. AO in the assessment

HARI NARAIN PARWAL,JAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3, JAIPUR

In the result,the appeals of the assessee are dismissed

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

capital gain and other sources. A search u/s 132 of the Act was carried out on 07.01.2016 in the Shri Bitthal Das Parwal & Ors. vs. ACIT case of Dilip Maihar Group in which assessee was also covered. The assessment u/s 143(3) r.w.s. 153B(1)(b) of the IT Act was completed on 29.12.2017. The Ld. AO in the assessment

BITTHAL DAS PARWAL,JAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3 , JAIPUR

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

Bench: Him. 2. In This Appeal, The Assessee Has Raised The Following Grounds: -

income was assessed at Rs.6.18,74,055/- by making the following additions and also penalty proceedings u/s 271(1)(c) of the IT Act, 1961 were initiated.  Addition on account of bogus LTCG of Rs.5.95,91,797/-on protective basis.  Addition on account of undisclosed capital gain

OMPRAKASH,DHOLPUR vs. ITO WARD 4 BHARATPUR, BHARATPUR

In the result, the both the appeals of the assessee are allowed for statistical\npurposes as indicated hereinabove\nOrder pronounced in the open court on\n17/01/2025

capital gain.\n3. That order of learned Assessing Authority is based on assumptions and presumptions\nand against real facts of the case.\n4. That further submissions in support of appeal shall be made at the time of hearing.\n5. That appellant craves leave to add, amend or alter all or any grounds of appeal before\nor at the time

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

income of the assessee for the year under\nconsideration treating it as unexplained cash credit.\n4.6 The reply of the assessee on another issue i.e. commission paid in lieu of\nbogus entry of Long Term Capital Gains, has been considered but not found\ntenable. The submission of the assessee that he has not paid any commission\nfor taking bogus entry

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)

capital gains, nor is it income from 'other sources' Held, yes. [Fakir Mohmed Haji Hasan v. Commissioner of Income-tax [2002] 120 Taxman 11 (Gujarat)/[2001] 247 ITR 290 (Gujarat)/[2001] 165 CTR 111 (Gujarat) [10-08-2000]] These are the special provisions dealing with the situation and the incomes which are the subject matter of the contention

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

In the result, the appeal of the assessee is allowed

Gain) during the course of Income Declaration Seheme (IDS) in 2016 and paid due tax thereupon. Thus the assessee offered her undisclosed income which was earlier claimed exempt under the garb of Long Term Capital

KATH BROTHERS,JAIPUR vs. ACIT, CENTRAL CIRCLE-3, JAIPUR, JAIPUR

In the result, the appeal of the assessee is allowed

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

capital gains, nor is it income from 'other sources' Held, yes. [Fakir Mohmed Haji Hasan v. Commissioner of Income-tax [2002] 120 Taxman 11 (Gujarat)/[2001] 247 ITR 290 (Gujarat)/[2001] 165 CTR 111 (Gujarat)[10-08- 2000]] 21 Kath Brothers vs. ACIT These are the special provisions dealing with the situation and the incomes which are the subject matter

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 gain in the year under consideration, the fact remaining that the possession of the land has still not been handed over to the appellant till date. (xi) In search assessments, any undisclosed income

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 gain in the year under consideration, the fact remaining that the possession of the land has still not been handed over to the appellant till date. (xi) In search assessments, any undisclosed income

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 gain in the year under consideration, the fact remaining that the possession of the land has still not been handed over to the appellant till date. (xi) In search assessments, any undisclosed income

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 gain in the year under consideration, the fact remaining that the possession of the land has still not been handed over to the appellant till date. (xi) In search assessments, any undisclosed income

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)

undisclosed income in the garb of long term capital gain. It is further submitted that recently the Hon’ble Calcutta

GANPATLAL AGARWAL,BEAWAR vs. DCIT, CENTRAL CIRCLE, AJMER, AJMER

income as undisclosed\nlong term capital gain income for the A.Y. 2015-16.\n6.\nAggrieved, from the said order of assessment