GOVERDHAN SIGH SHEKHAWAT,JAIPUR vs. ITO, JAIPUR

long term capital gain in the flexi deposit scheme in the bank. The assessee claims that he has handed over the cheques to the branch manager to deposit the same in capital gain scheme account but he invested in the flexi deposit scheme of the bank although the assessee’s intention was always to invest in the capital gain scheme

BHARATPUR ROYAL FAMILY RELIGIOUS & CEREMONIAL TRUST,BHARATPUR vs. CIT(E), JAIPUR

In the result, we upheld the order of the ld PCIT in exercise of his powers u/s 263 in setting aside the order so passed by the AO and the grounds of appeal taken by the assessee are hereby dismissed

long drawn process of reasoning or where two opinions are possible. The Decision on debatable point of law cannot be treated as “mistake apparent from the record” 6.2 In the present case, the AO declined the claim of the exemption on the basis that the Trust was no registered u/s 12AA of the Act. Undisputedly, when the assessment order

INCOME TAX OFFICER, JAIPUR vs. RVCF TRUST-II, JAIPUR, JAIPUR

In the result, the appeal of the Revenue is dismissed

Bench: The Income Tax Appellate Tribunal, Jaipur Within 30 Days I.E. On Or Before 13.06.2022. In View Of The Above The Physical Appeal Was Filed On 19.05.2022 Well Before 12.06.2022 As Directed In The Said Mail.

long term capital appreciation and receives income from the sale of such investments. Going through the SME Tech Fund a trust organized of India and to be registered with Securities and Exchange Board of India as venture capital fund which is reproduced as under:- “This Confidential Private Placement Memorandum (this "Memorandum") is being furnished to prospective investors

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.”

long-term capital gains were not treated to be genuine, AO also rejected claim of assessee for exemption u/s 54F—CIT(A) held that, rejection of claim of exemption u/s 54F by AO, was in order—Held, section 54F, neither provided as pre-condition requirement of filing of ‘return of income’ by assessee within stipulated time period, nor places

INSTITUTE MANAGEMENT COMMITTEE ITI JHALAWAR,JHALAWAR vs. ITO WARD JHALAWAR, JHALAWAR

The appeals of the assessee are hereby allowed

long-term capital gains were not\ntreated to be genuine, AO also rejected claim of assessee for exemption u/s\n54F—CIT(A) held that, rejection of claim of exemption u/s 54F by AO, was in\norder-Held, section 54F, neither provided as pre-condition requirement of filing\nof ‘return of income' by assessee within stipulated time period, nor places

INSTITUTE MANAGEMENT COMMITTEE ITI JHALAWAR ,JHALAWAR vs. ITO WARD JHALAWAR, JHALAWAR

The appeals of the assessee are hereby allowed

long-term capital gains were not\ntreated to be genuine, AO also rejected claim of assessee for exemption u/s\n54F—CIT(A) held that, rejection of claim of exemption u/s 54F by AO, was in\norder-Held, section 54F, neither provided as pre-condition requirement of filing\nof ‘return of income' by assessee within stipulated time period, nor places

OM KOTHARI FOUNDATION,JAIPUR, RAJASTHAN vs. ITO, (EXEMPTION) WARD-1, JAIPUR, JAIPUR, RAJASTHAN

In the result, the appeals of the assessee in ITA No

Bench: SHRI SANDEEP GOSAIN (Judicial Member), DR MITHA LAL MEENA (Accountant Member)

trust. It is an undisputed fact that the appellant is having investment in equity shares of a group company. As per the section 11, investment in equity shares is prohibited and on this legal ground the learned assessing officer disallowed the exemption to the appellant in the assessment order. The learned Assessing Officer has observed that in this case

VISHNU PAREEK,JAIPUR vs. CIT(A), JAIPUR

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

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

Term Capital Gain earned on sale of plot number 40, Shivpuri, Jhotwara, Jaipur situated at and taxed in his hands accordingly.” 6 Vishnu Pareek vs. CIT(A) On further appeal by the assessee, the CIT(A) dismissed the appeal vide order dated 17.05.2019 held as under: “I have carefully considered the reason for condonation delay. I find that the reason

ALLEN CAREER INSTITUTE,JAIPUR vs. JCIT, KOTA

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

long-term capital gains. In light of the same, we do not think that the learned CIT(A) was correct in invoking provisions of s. 14A of the Act.” 24 ITA246/JP/2015 M/S. ALLEN CAREER INSTITUTE VS JCIT, RANGE-2, KOTA We have also carefully gone through the various decisions cited by the AR in the cases

INCOME TAX OFFICER (EXEMPTION),WARD, JAIPUR, JAIPUR vs. RAJASTHAN CRICKET ASSOCIATION, JAIPUR

In the result, appeal of the Department is dismissed

Bench: The Hon’Ble Tribunal In The Interest Of Justice.

gains of business, unless the business is incidental to the attainment of the objectives of the trust or, as the case may be institutions and separate Books of accounts are maintained by such trust or institution in respect of such business.Now, coming to the allegation of the Assessing Officer that the major source of income are TV subsidy, sale

INCOME TAX OFFICER (EXEMPTIONS), WARD, JAIPUR, JAIPUR vs. RAJASTHAN CRICKET ASSOCIATION, JAIPUR

In the result, appeal of the Department is dismissed

Bench: The Hon’Ble Tribunal In The Interest Of Justice.

gains of business, unless the business is incidental to the attainment of the objectives of the trust or, as the case may be institutions and separate Books of accounts are maintained by such trust or institution in respect of such business.Now, coming to the allegation of the Assessing Officer that the major source of income are TV subsidy, sale

INCOME TAX OFFICER, JAIPUR vs. RAJASTHAN CRICKET ASSOCIATION, JAIPUR

In the result, appeal of the Department is dismissed

Bench: The Hon’Ble Tribunal In The Interest Of Justice.

gains of business, unless the business is incidental to the attainment of the objectives of the trust or, as the case may be institutions and separate Books of accounts are maintained by such trust or institution in respect of such business.Now, coming to the allegation of the Assessing Officer that the major source of income are TV subsidy, sale

PRATIMA PANWAR,JAIPUR vs. I.T.O, WARD 3(3), JAIPUR, JAIPUR

In the result, the appeal of the assessee is allowed

Bench: Him.

Charitable Trust and MJRP University. In consideration she is drawing salary of Rs. 27500/- per month from Trust and Rs. 27,500/- from University during the financial year 2016-17. She has been filing her income tax return regularly for almost lat 15 years at PAN AKCPP2010P declaring her income of whatsoever nature, She hasfiled her ITR for the assessment

SOURABH AGROTECH PRIVATE LIMITED ,ALWAR vs. DCIT, CENTRAL CIRCLE, ALWAR

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

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

long term capital gain, since no incriminating material was found during course of search with regard to issue of addition made in assessment order, impugned addition was to be set aside. 4. In the assessee’s own case for AY 2011-12, the Hon’ble ITAT at Para 7 & 8 of its order held as under:- 7. Examining the facts

SAURABH AGROTECH PRIVATE LIMITED,ALWAR vs. DCIT, CENTRAL CIRCLE, ALWAR

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

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

long term capital gain, since no incriminating material was found during course of search with regard to issue of addition made in assessment order, impugned addition was to be set aside. 4. In the assessee’s own case for AY 2011-12, the Hon’ble ITAT at Para 7 & 8 of its order held as under:- 7. Examining the facts

M/S. RAJASTHAN CRICKET ASSOCIATION,JAIPUR vs. ADD.CIT. RANGE-2, JAIPUR

In the result, the matter is decided in favour of the assessee and against the Revenue and the ground of appeal so taken by the assessee society is thus allowed

gains of business, unless the business is incidental to the attainment of the objectives of the trust or, as the case may be institutions and separate Books of accounts are maintained by such trust or institution in respect of such business.Now, coming to the allegation of the Assessing Officer that the major source of income are TV subsidy, sale

INCOME TAX OFFICER (EXEMPTION), WARD-1, JAIPUR vs. M/S RAJASTHAN CRICEKT ASSOCIATION, JAIPUR

In the result, the matter is decided in favour of the assessee and against the Revenue and the ground of appeal so taken by the assessee society is thus allowed

gains of business, unless the business is incidental to the attainment of the objectives of the trust or, as the case may be institutions and separate Books of accounts are maintained by such trust or institution in respect of such business.Now, coming to the allegation of the Assessing Officer that the major source of income are TV subsidy, sale

INCOME TAX OFFICER (EXEMPTION), WARD-1, JAIPUR vs. RAJASTHAN CRICKET ASSOCIATION, JAIPUR

In the result, the matter is decided in favour of the assessee and against the Revenue and the ground of appeal so taken by the assessee society is thus allowed

gains of business, unless the business is incidental to the attainment of the objectives of the trust or, as the case may be institutions and separate Books of accounts are maintained by such trust or institution in respect of such business.Now, coming to the allegation of the Assessing Officer that the major source of income are TV subsidy, sale