JAIPUR TELECOM PRIVATE LIMITED,JAIPUR vs. DCIT CIRCLE 1, JPR, JAIPUR

In the result the appeal of the assessee in ITA no

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

penalty imposed by ld.AO @ 200% by alleging the excess claim of depreciation is misreporting, whereas penalty proceedings were initiated for underreporting

SEAWARD EXPORTS PRIVATE LIMITED,KOTA vs. DCIT-CIRCLE 2, KOTA

In the result, the appeal of the assessee is allowed

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

depreciation @ 15%. Penalty proceedings u/s 271(1)© were initiated for furnishing inaccurate particulars of income after recording necessary satisfaction in the assessment

MANGI LAL KANDOI ,JAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE – 2, JAIPUR, JAIPUR

In the result, appeal of the assessee is partly allowed

penalty imposed by the Learned AO on the basis of that in the quantum proceedings the Hon’ble ITAT sustained the addition on account of income surrendered by the assessee during the course of search. The learned CIT(A) has also mentioned on page 13 of the appellate order that the surrender of income was not voluntary and the income

SAVITRI LEASING FINANCE LTD,JAIPUR vs. INCOME TAX OFFICER, WARD - 4(2), JAIPUR, JAIPUR

In the result, the appeal of the assesee is allowed

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

depreciation assessment is enhanced accordingly. The penalty proceedings u/s 270A(9) are initiated on the enhancement for misreporting of income

MANGI LAL KANDOI ,JAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE – 2, JAIPUR, JAIPUR

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

depreciation wrongly claimed is subject to levy of penalty u/s. 271(1)(c) of the Act. The ld. DR further

MANGI LAL KANDOI ,JAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE – 2, JAIPUR, JAIPUR

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

depreciation wrongly claimed is subject to levy of penalty u/s. 271(1)(c) of the Act. The ld. DR further

MANGI LAL KANDOI ,JAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE – 2, JAIPUR, JAIPUR

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

depreciation wrongly claimed is subject to levy of penalty u/s. 271(1)(c) of the Act. The ld. DR further

DCIT, CIRCLE-6, JAIPUR, NCRB, JAIPUR vs. BARMER LIGNITE MINING COMPANY LIMITED, JAIPUR

In the result, the appeal of the Revenue is dismissed

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

penalty of Rs.2,79,25,403/- imposed by the AO ignoring the fact that the addition w.r.t. the issues i.e. amortization of surface rights of Rs.8,18,38,172/- and disallowance of depreciation

AMAN GOYAL,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-4, JAIPUR

In the result, appeal of the assessee is allowed

Bench: HON’BLE SHRI SANDEEP GOSAIN (Judicial Member)

depreciation on such asset were to be allowed accordingly, and on these grounds penalty of Rs. 7,81,660/- was levied

SUPERFINE HOTELS PRIVATE LIMITED,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-6,, JAIPUR

In the result, appeal of the assessee is partly allowed

depreciation,\ninterest and guarantee commission—Same disallowed by ITO—\nTribunal holding that claims of assessee, though rejected,\nwere bona fide-Same finding of fact—No case for penalty

COMPUCOM SOFTWARE LIMITED,JAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-VI, JAIPUR

In the result, the appeal of the assessee is disposed off in light of aforesaid directions

depreciation claimed on windmill and even amount is being added back to the returned income of the assessee. Penalty u/s 271(1)(c) is being

AGRASEN MEDICAL RELIEF & RESEARCH SOCIETY,JAIPUR vs. ITO(E), WARD-1, JAIPUR, JAIPUR

In the result, the appeal of the assessee is allowed

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

penalty 1,58,000 66,18,842 Total receipt 1,81,85,722 Less:- Expenditure as per I&E A/c including depreciation

INCOME TAX OFFICER, JAIPUR vs. SHAKUNTLAM COLONIZERS PRIVATE LIMITED, JAIPUR

depreciation the total income remained at Rs. NIL, as\nthere was brough forward loss of Rs. 8,32,08,441/-.\n11. As the penalty

RAJ KUMARI MAHESHWARI,JAIPUR vs. DY CIT, CC-II, JAIPUR

In the result, this appeal of the assessee is allowed

penalty can be levied for a bona fide/inadvertent /human error. Further Hon'ble by M.P. High Court in CIT Vs. SKY Auto Products Pvt. Ltd. (2004) 271 ITR 335 held that where the assessee, a new businessman claimed depreciation

AJOY SHARMA ,JAIPUR vs. DCIT CENTRAL CIRCLE-1, JAIPUR, JAIPUR

depreciation\nis also not admissible and hence not allowed to be carried forward and accordingly\ncompleted the assessment at 'nil' income ignoring the loss returned by the assessee.\nWe further find that the Assessing Officer without initiating any penalty

AJOY SHARMA ,JAIPUR vs. DCIT CENTRAL CIRCLE-1, JAIPUR, JAIPUR

depreciation\nis also not admissible and hence not allowed to be carried forward and accordingly\ncompleted the assessment at 'nil' income ignoring the loss returned by the assessee.\nWe further find that the Assessing Officer without initiating any penalty

AJOY SHARMA,JAIPUR vs. DCIT CENTRAL CIRCLE-1, JAIPUR, JAIPUR

depreciation\nis also not admissible and hence not allowed to be carried forward and accordingly\ncompleted the assessment at 'nil' income ignoring the loss returned by the assessee.\nWe further find that the Assessing Officer without initiating any penalty

AJOY SHARMA ,JAIPUR vs. DCIT CENTRAL CIRCLE-1, JAIPUR, JAIPUR

depreciation\nis also not admissible and hence not allowed to be carried forward and accordingly\ncompleted the assessment at 'nil' income ignoring the loss returned by the assessee.\nWe further find that the Assessing Officer without initiating any penalty