SHRI KALYAN BUILDMART PVT. LTD,JAIPUR vs. PRINCIPAL COMMISSIONER OF INCOME TAX-2, JAIPUR, JAIPUR

Bench: The Date Of Hearing.”

depreciation of " 6,13,624. vi. The authenticity of credits, share capital and share premium has not been established. 3. Our responses to various issues raised in the notice u/s 263 are as under: Issue i. No justification was provided regarding the change in valuation method and share price calculated on basis of discounted cash flow projection was not acceptable

ACIT(EXEMPTION), JAIPUR vs. MAHIMA SHIKSHA SAMITI, JAIPUR

In the result, all the grounds taken by the Revenue are dismissed and ground taken by the assessee society is allowed

permanently fastened to, anything attached to the earth;] (xi) deposits with the Industrial Development Bank of India established under the Industrial Development Bank of India Act, 1964 (18 of 1964);] [(xii) any other form or mode of investment or deposit as may be prescribed. (6) In this section where any income is required to be applied or accumulated

M/S KANAK VRINDAVAN RESORTS LIMITED,JAIPUR vs. INCOME TAX OFFICER, WARD 6(2), JAIPUR

In the result, the appeal of the assessee is allowed

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

establish the fact that the vehicles have been used wholly and exclusively for the purposes of business. 5.1.13 In the case of CIT v. Shahibag entrepreneurs (P) Ltd. (1995) 215 ITR 810 (Guj), it was held that it cannot be disputed that before an assessee can become entitled to an allowance under Section 37(1), he must satisfy the Department

BRAND INDIA REAL ESTATE PRIVATE LIMITED,JAIPUR vs. INCOME TAX OFFICER WARD 6(1), JAIPUR

In the result, appeal of the assessee is allowed

depreciation on CPP was\nallowed by the AO while framing the assessment under Section 143(3) after conscious\nconsideration of the material on record. It is not even the case of the Revenue that the formation\nof the belief regarding the escapement of the assessment by the AO is based on any new material\ncoming on record. Apparently, the formation

HARBANS LAL SETHI,JAIPUR vs. ADDL. CIT, KOTA

In the result, the appeals of the assessee are partly allowed and that of the Revenue are dismissed

established by the CIT(A) 13 Shri Harbans Lal Sethi vs. Addl. CIT, Range-2, Kota . 7.5.2 Radhaswami Satsang Vs. CIT 193 ITR 321 (SC), on the theory of consistency, has held as under: “ ..Strictly speaking, res judicatta does not apply to the income tax proceedings. Though, each assessment year being a unit, what was decided in one year might

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

established position of law that in a case of ownership against immovable property, the unconditional interest in absolute term with freedom to sell, alienate ect. is transferred by the seller to the purchaser, which is admittedly not the case over here. Under these circumstances we are of the view that the Ld. CIT(A) has rightly come to the conclusion

RAJASTHAN RAJYA SAHKARI KRAYA VIKRAYA SANGH LTD.,JAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, JAIPUR

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

established position of law that in a case of ownership against immovable property, the unconditional interest in absolute term with freedom to sell, alienate ect. is transferred by the seller to the purchaser, which is admittedly not the case over here. Under these circumstances we are of the view that the Ld. CIT(A) has rightly come to the conclusion

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

In the result, appeals of the assessee are partly allowed and appeals of the Revenues are dismissed

depreciation since he has not made any capital investment and this is raw material. 10.1 Regarding issue no. 3, he contended that there is concurrent finding of authorities and the issue is required to be answered in favour of the Department. ITA No. 311 & 420/JP/2014 323/JP/2016, CO. No. 07/JP/2016 313& 421/JP/14, 93,207,94& 208/JP/2015 14. Regarding issue

DCIT, JAIPUR vs. RAJASTHAN STATE INDUSTRIAL DEVELOPMENT & INVESTMENT CORPORTATION LTD., JAIPUR

In the result, appeals of the assessee are partly allowed and appeals of the Revenues are dismissed

depreciation since he has not made any capital investment and this is raw material. 10.1 Regarding issue no. 3, he contended that there is concurrent finding of authorities and the issue is required to be answered in favour of the Department. ITA No. 311 & 420/JP/2014 323/JP/2016, CO. No. 07/JP/2016 313& 421/JP/14, 93,207,94& 208/JP/2015 14. Regarding issue

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

In the result, appeals of the assessee are partly allowed and appeals of the Revenues are dismissed

depreciation since he has not made any capital investment and this is raw material. 10.1 Regarding issue no. 3, he contended that there is concurrent finding of authorities and the issue is required to be answered in favour of the Department. ITA No. 311 & 420/JP/2014 323/JP/2016, CO. No. 07/JP/2016 313& 421/JP/14, 93,207,94& 208/JP/2015 14. Regarding issue

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

In the result, appeals of the assessee are partly allowed and appeals of the Revenues are dismissed

depreciation since he has not made any capital investment and this is raw material. 10.1 Regarding issue no. 3, he contended that there is concurrent finding of authorities and the issue is required to be answered in favour of the Department. ITA No. 311 & 420/JP/2014 323/JP/2016, CO. No. 07/JP/2016 313& 421/JP/14, 93,207,94& 208/JP/2015 14. Regarding issue

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

In the result, appeals of the assessee are partly allowed and appeals of the Revenues are dismissed

depreciation since he has not made any capital investment and this is raw material. 10.1 Regarding issue no. 3, he contended that there is concurrent finding of authorities and the issue is required to be answered in favour of the Department. ITA No. 311 & 420/JP/2014 323/JP/2016, CO. No. 07/JP/2016 313& 421/JP/14, 93,207,94& 208/JP/2015 14. Regarding issue

DCIT, JAIPUR vs. RAJASTHAN STATE INDUSTRIAL DEVELOPMENT & INVESTMENT CORPORTATION LTD., JAIPUR

In the result, appeals of the assessee are partly allowed and appeals of the Revenues are dismissed

depreciation since he has not made any capital investment and this is raw material. 10.1 Regarding issue no. 3, he contended that there is concurrent finding of authorities and the issue is required to be answered in favour of the Department. ITA No. 311 & 420/JP/2014 323/JP/2016, CO. No. 07/JP/2016 313& 421/JP/14, 93,207,94& 208/JP/2015 14. Regarding issue

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

In the result, appeals of the assessee are partly allowed and appeals of the Revenues are dismissed

depreciation since he has not made any capital investment and this is raw material. 10.1 Regarding issue no. 3, he contended that there is concurrent finding of authorities and the issue is required to be answered in favour of the Department. ITA No. 311 & 420/JP/2014 323/JP/2016, CO. No. 07/JP/2016 313& 421/JP/14, 93,207,94& 208/JP/2015 14. Regarding issue

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

In the result, appeals of the assessee are partly allowed and appeals of the Revenues are dismissed

depreciation since he has not made any capital investment and this is raw material. 10.1 Regarding issue no. 3, he contended that there is concurrent finding of authorities and the issue is required to be answered in favour of the Department. ITA No. 311 & 420/JP/2014 323/JP/2016, CO. No. 07/JP/2016 313& 421/JP/14, 93,207,94& 208/JP/2015 14. Regarding issue

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

In the result, appeals of the assessee are partly allowed and appeals of the Revenues are dismissed

depreciation since he has not made any capital investment and this is raw material. 10.1 Regarding issue no. 3, he contended that there is concurrent finding of authorities and the issue is required to be answered in favour of the Department. ITA No. 311 & 420/JP/2014 323/JP/2016, CO. No. 07/JP/2016 313& 421/JP/14, 93,207,94& 208/JP/2015 14. Regarding issue

AHLUWALIA ERECTORS AND FEBRICATIONS PVT. LTD.,KOTA vs. ACIT CIR-1 KOTA , KOTA

In the result the appeal of the assessee is partly allowed

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

permanent labor staff. The assessee has also shown to pay salary/wages for job work done and to other employees, in addition to temporary labor the bills for which have been furnished by assessee on sample basis. In the absence of number of employees in each of these categories, it was impossible to estimate the accurate labor bill of the assessee

KIRAN INFRA ENGINEERS LTD.,JAIPUR vs. THE ASSTT. COMMISSIONER OF INCOME TAX, CIRCLE-4, JAIPUR

In the result, the ground is allowed for statistical purposes

Bench: or at the time of hearing of

depreciation and interest). This action of ld. CIT(A) in upholding the G.P. rate of 7% on turnover from entire receipts without appreciating the fact that the Hon’ble ITAT in assessee’s own case for A.Y. 2012-13 has accepted the G.P. rate declared by the assessee. Furthermore, Ld. CIT(A) has grossly erred in allowing recomputation of turnover