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

trust or institution is to carry out object of general public utility and this is the primary or dominant purpose and not carrying on any activity for profit, ITO Vs. Rajasthan Cricket Association. the same would satisfy the requirements of section 2(15) of the Act. Here, the main object of the appellant was providing financial help

SHRI PARNAMI PANCHAYAT,JAIPUR vs. ITO, (EXEMPTIONS), WARD-1, JAIPUR, JAIPUR

In the result appeal of the assessee is allowed

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

138 taxmann.com 197 (SC)  CIT(E) vs. Shiv Kumar Sumitra Devi Smarak Shikshan Sansthan (2020) 113 taxmann.com 334 (Allhabad H.C.)  U.P. Forest Corporation vs. DCIT (2007) 165 Taxman 533 (SC)  Bhagawan Sree Mahayogi Lakshmamma Educational Society, Adoni vs. ITO (2022) 135 taxmann.com 310 (Hyderabad-Trib.). 2.6 In the case of the assessee, the ld. AR distinguished the case laws relied

AUROVEDA INTEGRAL FOUNDATION,JAIPUR vs. CIT(EXEMPTIONS), JAIPUR

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

138 ITD 179 which is based on distinguishable facts not applicable to the company and at the same time not considering decision of various High Courts which have held that commencement of actual activities is not a condition precedent for grant of registration and what is actually required to be seen is whether the objects incorporated in trust deed

RAM NIWAS YADAV,SHAHPURA vs. INCOME TAX OFFICER BEHROR, BEHROR

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

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

Sections 271(1)(b), 271(1)(c), and 274 cannot be mechanically appended to an arbitrary and procedurally flawed assessment order. Since the main proceedings conducted by the ITO lack legal and factual sanctity, the consequent penalty proceedings are also rendered invalid and untenable in law. Such mechanical initiation of penalty proceedings not only violates the statutory provisions but also

NASH FASHION (INDIA) LIMITED,JAIPUR vs. DCIT CIRCLE -2, JAIPUR

In the result, the appeal of the assessee is allowed in ITA no

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

trusts. The ITO. however, rejected the assessee's claim for deduction of the donations under section 80G. The Tribunal held that the expression 'sums' occurring in section 80G did not include any donation made in kind in the shape of shares. On a reference, the High Court agreed with the view taken by the Tribunal. On appeal by certificate under

ASSISTANT COMMISSIONER OF INCOME-TAX, JAIPUR vs. NASH FASHION(INDIA) LIMITED, JAIPUR

In the result, the appeal of the assessee is allowed in ITA no

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

trusts. The ITO. however, rejected the assessee's claim for deduction of the donations under section 80G. The Tribunal held that the expression 'sums' occurring in section 80G did not include any donation made in kind in the shape of shares. On a reference, the High Court agreed with the view taken by the Tribunal. On appeal by certificate under

NASH FASHION (INDIA) LIMITED,JAIPUR vs. DCIT CIRCLE 1, JAIPUR

In the result, the appeal of the assessee is allowed in ITA no

trusts. The\nITO. however, rejected the assessee's claim for deduction of the donations\nunder section 80G. The Tribunal held that the expression 'sums' occurring in\nsection 80G did not include any donation made in kind in the shape of shares.\nOn a reference, the High Court agreed with the view taken by the Tribunal. On\nappeal by certificate under

GUJRATI MAHAMANDAL HATI BHATA,AJMER vs. INCOME TAX OFFICER (EXEMPTION), AJMER

In the result the appeal of the assessee is allowed

Trust (1994) 206 ITR 138 (Cal). The CBDT circular No. 52 dated December 30,1970 has accepted fixed deposit for duration of more than six month as a capital asset. Fixed deposits (FDs), debentures and bonds are 3 Gujrati Mahamandal Hati Bhata vs. ITO(E), Ajmer ordinarily capital assets Hence Investment in Fixed Deposit should be treated as Capital Expenditure

V C GRANITES,AJMER vs. DCIT CENTRAL CIRCLE AJMER, AJMER

In the result, appeal of the assessee is allowed

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

138) and Kerala High Court in the case of Promy Kuiakose (386 ITR 597) & decision of the Hon’ble Jurisdictional High Court in J R Tantia Charitable Trust (15 taxmann.com 311) being some of the prominent decisions on the issue. However, for completing the assessment of the total income of the previous year in which search was conducted, issuance

DCIT, AJMER vs. M/S V.C. GRANITE, AJMER

In the result, appeal of the assessee is allowed

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

138) and Kerala High Court in the case of Promy Kuiakose (386 ITR 597) & decision of the Hon’ble Jurisdictional High Court in J R Tantia Charitable Trust (15 taxmann.com 311) being some of the prominent decisions on the issue. However, for completing the assessment of the total income of the previous year in which search was conducted, issuance

GAYATRI DEVI,JAIPUR vs. PCIT(CENTRAL), JAIPUR

In the result, this appeal of the assessee is allowed

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

138: (1980) 123 ITR 3 (Ker):42R.1622, affirmed.” 11 SMT. GAYATRI DEVI VS PR.CIT (CENTRAL), JAIPUR Thus, these facts being admittedly available on record before the AO showing his complete application of mind and a reasonable basis of reaching satisfaction by a quasi- judicial authority. Thus, the AO did all what he was supposed to do under law and took

AKSHAT LOYALKA,JAIPUR vs. RJN-C-(101)(1), JAIPUR

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

Charitable Trust.\nThe assessee has also shown income form capital gain on sale of shares and other\nincome. Considering his income and net worth his house hold expenses are estimated at\nRs.1,25,000/- per month.\nConsidering his worth and stature it is quite possible that money withdrawn from banks\nare utilized towards house hold expenses.\nIn the assessment order

SH. TARACHAND GUPTA,ALWAR vs. ACIT, CENTRAL CIRCLE, ALWAR, ALWAR

In the result the appeal filed by the revenue in ITA no

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI, AM आयकर अपील सं. / ITA. Nos.447 to 449/JP/2024 निर्धारण वर्ष / Assessment Years : 2015-16 to 2017-18 Shri Tarachand Gupta 9 Keshav Nagar Sch 13, Alwar बनाम Vs. ACIT, Central Circle, Alwar स्थायी लेखा सं./ जीआईआर सं./PAN/GIR No.: AAYPC 5777 E अपीलार्थी / Appellant प्रत्यर्थी / Respondent आयकर अपील सं./ITA. No. 514/JP/2024 निर्धारण वर्ष / Assessment Year : 2017-18 ACIT, Central Circle, Alwar बनाम Shri Tarachand Gupta 9 Ke

138 taxmann.com 19 (Madhya Pradesh)/[2022) 286 Taxman 680 (Madhya Pradesh)/[2022) 446 ITR 539 (Madhya Pradeshj[18-02-2022), the decision of the Hon'ble High Court upheld the order of the Hon'ble ITAT whereby the addition made on the basis of financial statement submitted to bank was confirmed. SLP against this judgement was dismissed

ACIT, CENTRAL CIRCLE, ALWAR vs. SH. TARA CHAND GUPTA, ALWAR

In the result the appeal filed by the revenue in ITA no

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI, AM आयकर अपील सं./ITA. Nos.447 to 449/JP/2024 निर्धारण वर्ष / Assessment Years : 2015-16 to 2017-18 Shri Tarachand Gupta 9 Keshav Nagar Sch 13, Alwar बनाम ACIT, Vs. Central Circle, Alwar स्थायी लेखा सं./ जीआईआर सं./PAN/GIR No.: AAYPC 5777 E अपीलार्थी / Appellant प्रत्यर्थी / Respondent आयकर अपील सं./ITA. No. 514/JP/2024 निर्धारण वर्ष / Assessment Year : 2017-18 ACIT, Central Circle, Alwar बनाम Shri Tarachand Gupta 9 Kesh

138 taxmann.com 19 (Madhya Pradesh)/[2022) 286 Taxman 680 (Madhya Pradesh)/[2022) 446 ITR 539 (Madhya Pradeshj[18-02-2022), the decision of the Hon'ble High Court upheld the order of the Hon'ble ITAT whereby the addition made on the basis of financial statement submitted to bank was confirmed. SLP against this judgement was dismissed

YUWAM EDUCATION PVT. LTD.,JAIPUR vs. DCIT, CIRCLE-6, JAIPUR, JAIPUR

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

Charitable Trust [2022] 144 taxmann.com 54 (Madras)/[2023] 450 ITR 368 (Madras) [31-10-2022] x x x x Dr. S.C. Gupta vs. CIT [2001] 118 Taxman 252 (Allahabad) x x x x Bachittar Singh vs. CIT [2010] 328 ITR 400 (Punjab & Haryana] x x x x CIT v. Hotel Mariya [2010] 195 taxman 459 (Kerala

RAJASTHAN STATE INDUSTRIAL DEVELOPMENT & INVESTMENT CORP. LTD.,JAIPUR vs. ACIT, JAIPUR

In the result, both set of cross appeals for the respective assessment years are disposed off with above directions

charitable trust for rehabilitation of earthquake victims was held as not incurred for the Rajasthan State Industries Development & Investment Corp. Ltd. purpose of the business. Similarly, expenditure incurred for running training camps for budding cricketers was held as not incurred for the purpose of business in 2011-TION-250-ITAT-Madras. In 242 ITR 458, articles given to the members

GUJRATI MAHAMANDAL HATI BHATA,AJMER vs. INCOME TAX OFFICER (EXEMPTION), AJMER

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

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

Trust (1994) 206 ITR 138 (Cal). The CBDT circular No 52 dated December 30,1970 has accepted fixed deposit for duration of more than six month as a capital asset. Fixed deposits (FDs), debentures and bonds are ordinarily capital assets Hence Investment in Fixed Deposit should be treated as Capital Expenditure. 8. That the Ld CIT(appeals) has erred