SHRI DHARMENDRA KUMAR PAREEK,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-2, JAIPUR

In the result, appeal of the assessee is allowed

long-term capital gain but it was to be treated as short-term capital gain. This is the only issue which arises in this case. As stated above, this view of the Department is erroneous for two reasons. Firstly, under section 32(1), no depreciation

ASSISTANT COMMISSIONER OF INCOME TAX , CIRCLE-2, JAIPUR vs. M/S. ANGEL INFRASTRUCTURE PRIVATE LIMITED, JAIPUR

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

long term capital gain earned during the year. The possibility of arranging the transactions in a way to save the tax would not be a ground to hold that the transaction itself is bogus. If a transaction is valid and permissible under the law the motive of the transaction cannot render it bogus. It may be a case of impermissible

M/S ANGEL INFRASTRUCTURE (P) LTD.,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, JAIPUR

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

long term capital gain earned during the year. The possibility of arranging the transactions in a way to save the tax would not be a ground to hold that the transaction itself is bogus. If a transaction is valid and permissible under the law the motive of the transaction cannot render it bogus. It may be a case of impermissible

DINESSH KUMAR SHARMA,JAIPUR vs. ITO, WARD4(2), JAIPUR

In the result, appeal of the assessee is allowed

long term capital gains. In the present case, reopening under section 147 has been done\nwithout linking information received from Investigation Wing of Department to actual facts in\nthe appellant's case.\n\n2. Legal position in this regard-\n\n2.1 In this regard, provisions of section 147 are reproduced hereunder for your ready reference-\n\n\"If the Assessing

KARUNA JAIN,JAIPUR vs. ITO WD 2(1), JPR, JAIPUR

In the result, grounds raised by the assessee are dismissed

Bench: Shri Gagan Goyal & Shri Narinder Kumar

long term capital gain of Rs. 66, 94,676/- on account of subscribing the IPO of M/s. HPC Bio Sciences Ltd. and consequently, sale of the same. Of late, Searches have been conducted by the Investigation Wing of the Department at various places throughout the country. During the searches & as per the information made public by the SEBI

PRADEEP VATRANA,ALWAR vs. DCIT, ALWAR

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

long term capital gain. 7. That during the year under consideration, the appellant had sold 5 plots and got total receipts of Rs. 97,16,600/-. 8. That the AO had considered the income arisen out of the above mentioned sale as business income by treating it as ‘adventure in the nature of trade’. 5.3.2 Now, the moot question

HINDUSTAN SALES INDUSTRIAL CORPORATION,JAIPUR vs. PRINCIPAL COMMISSIONER OF INCOME TAX-1, JAIPUR

In the result, the appeal of the assessee is allowed

long-term capital gain as claimed by the assessee. The assessee them self-submitted that for one year there was a claim for depreciation

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)

long term capital gain and also wrongly held that income from capital gain could not be set off from business loss as assessee has filed the return after due date prescribed under the Income Tax Act. 5) That the Commissioner Appeals has grossly erred in holding and sustaining the finding of the Assessing Officer that the assessee has shown business

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)

long term capital gains—Held, there is not an iota of any cogent material mentioned by Assessing Officer which enabled him to have reached conclusion that this case was a fit case for conversion from limited scrutiny to complete scrutiny—If proposal of Assessing Officer and approval of Pr. Commissioner of Income Tax are examined on anvil of paragraph

LAL CHAND MEENA ,JAIPUR vs. ITO, WARD 7-3, JAIPUR

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

Long Term Capital Gain of such land to the partner. 7.4 Section 50C states that where the consideration received or accrued as a result of transfer of a land or building or both is less than the value adopted or assessed or assessable for the purpose of Stamp Duty ( Stamp Duty Valuation), then the Stamp Duty Valuation will be deemed

RAM KHILARI MEENA,DAUSA vs. ITO, DAUSA, DAUSA

In the result, the appeal of the assessee is allowed

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

Long Term capital Gain on sale of land and building ignoring the vital fact that no addition had been made on the reason framed for reopening of the case of the appellant. The case of the appellant was reopened on the reasoning of cash deposits in the bank account during the relevant previous year and non filing

DCIT, CENTRAL CIRCLE-1, JAIPUR, JAIPUR vs. VIPUL BANKA, SIKAR

In the result, the appeals of the revenue stands dismissed, and the

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

Long-Term Capital Gains on account of unexplained credits 46 ITA No. 301 and others /JP/2025 & CO No. 2 and others-JP-2025 DCIT vs. Vaibhav Banka and others u/s 68 of the Act based on these observations ground no. 1 raised by the revenue is dismissed. Since we have confirmed the action of the ld. CIT(A) in directing

DCIT, CENTRAL CIRCLE-1, JAIPUR, JAIPUR vs. VAIBHAV BANKA, SIKAR

In the result, the appeals of the revenue stands dismissed, and the

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

Long-Term Capital Gains on account of unexplained credits 46 ITA No. 301 and others /JP/2025 & CO No. 2 and others-JP-2025 DCIT vs. Vaibhav Banka and others u/s 68 of the Act based on these observations ground no. 1 raised by the revenue is dismissed. Since we have confirmed the action of the ld. CIT(A) in directing

MAHAVEER YADAV,JAIPUR vs. ITO, JAIPUR

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

term capital gain on sale of these plots. 2.1 The ld. CIT(A) has erred on facts and in law in not allowing the deduction towards cost of land while confirming the assessment of the income of Rs. 48,98,790/- under the head “Profits and Gains from Business”. 2.2 The Ld. CIT(A) has erred on facts

DCIT, CENTRAL CIRCLE-1, JAIPUR, JAIPUR vs. TRILOK DEWAN, SIKAR

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

Long-Term Capital Gains on account of unexplained credits\n\n46\nITA No. 301 and others /JP/2025 & CO No. 2 and others-JP-2025\nDCIT vs. Vaibhav Banka and others\n\nu/s 68 of the Act based on these observations ground no. 1 raised by the\nrevenue is dismissed.\n\nSince we have confirmed the action

DCIT, CENTRAL CIRCLE-1, JAIPUR, JAIPUR vs. SUBHASH CHANDRA BANKA, JAIPUR

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

Long-Term Capital Gains on account of unexplained credits\n46\nITA No. 301 and others /JP/2025 & CO No. 2 and others-JP-2025\nDCIT vs. Vaibhav Banka and others\nu/s 68 of the Act based on these observations ground no. 1 raised by the\nrevenue is dismissed.\nSince we have confirmed the action of the Id. CIT(A) in directing

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-3, JAIPUR vs. M/S HANUMAN TUBE WELL CO., JAIPUR

In the result, the appeal of the Revenue as well as assessee are dismissed

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

depreciation, interest to partners & remuneration was negative (-) 1,09,19,607/-. This loss was despite crediting a sum to the P&L a/c for sale receipts of land Rs. 2,48,36,735/- on account of excluding which as long term capital gains

PINK CITY ARTS AND CRAFTS,JAIPUR vs. ACIT CIRCLE 7, JAIPUR

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

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

term capital gain by grossly ignoring the fact that assessee could not commence business activities on such building/shed. Appellant prays that such building/ shed could not be put to use for the purposes of business and accordingly was not eligible for depreciation, thus profit on sale of such building deserves to be assessed as Long

GHODAWAT HOTELS PVT.LTD.,JAIPUR vs. DCIT(HQ), JAIPUR

In the result, both the appeals of the assessee are partly allowed for statistical purposes as indicated above

long term irrevocable lease against the vacation of assessee’s property from its possession has a direct nexus with the property sold during the year and therefore the cost of Rs. 1,01,97,208/- paid by the assessee for the acquisition of new property is the cost of improvement eligible for deduction