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

PINK CITY JEWEL HOUSE PRIVATE LIMITED ,JAIPUR vs. PRINCIPAL COMMISSIONER OF INCOME TAX (CENTRAL), JAIPUR

Section 14A of the Act can\nbe made if the assessee had not earned any exempt income? - HELD THAT:- A\nperusal of the Memorandum of the Finance Bill, 2022 reveals that it explicitly stipulates\nthat the amendment made to Section 14A will take effect from 1st April, 2022 and will\napply in relation to the assessment year

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)

14 'Save as otherwise provided by this Act' clearly leave scope for 'deemed income' of the nature covered under the scheme of sections 69, 69A, 69B and 69C being treated separately, because such deemed income is not income from salary house property, profits and gains of business or profession, or capital gains, nor is it income from other sources' because

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)

section 32(1) would mean double deduction, which is not permissible in view of the decision of the Apex Court in the case of Escorts Ltd. v. Union of India [1993] 199 ITR 43/[1992] 65 Taxman 420. The depreciation being notional expenditure will not fall under the expression 'actually applied' as held by the Apex Court in the case

RSD CONTAINERS PRIVATE LIMITED,JAIPUR vs. ITO, WARD 7(1), JAIPUR, JAIPUR

In the result, the appeal of the assessee is allowed

depreciation is on a different footing vis-a-vis Unabsorbed Loss. 10.2 Section 115BBE is inserted by Finance Act 2012 with effect from 1.4.2013. Through Finance Act 2016, an amendment to sub-section 2 of Section 115BBE was carried out. The section reads as follows "After section 115BBD of the Income-tax Act, the following section shall be inserted with

M/S. MAHARAJA SHREE UMAID MILLS LTD. JAIPUR,JAIPUR vs. DCIT CIRCLE-6, JAIPUR, CIRCLE-6, JAIPUR

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

section 14A read with Rule 8D. 5. It was submitted that on perusal of Rule 8D, it is evident that the AO can apply Rule 8D(2) only when he is not satisfied with the claim made by the assessee that no expenditure has been incurred in relation to the income not includible in the total income. In the present

SHRI DIGAMBER JAIN ATIKSHAYA KESHTRA,PADAMPUA vs. ITO EXEMPTION WARD 1, KAILASH HEIGHTS

In the result appeal of the assessee is partly allowed

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

section 32 is not applicable on charitable trusts. 2. COMMISIONER OF INCOME TAX (APPEALS) Ld. CIT upheld the decision of ld. AO stating that assessment made by ld. AO is conclusive. 3. SUBMISSION: 3.1. It is submitted that claim for depreciation is very much available to charitable trusts also. Reliance is placed on the following judicial pronouncements wherein

M/S. MAHARAJA SHREE UMAID MILLS LTD. JAIPUR,JAIPUR vs. DCIT CIRCLE-6, JAIPUR, CIRCLE-6, JAIPUR

In the result, appeal of the assessee is allowed

14,642/- on new machinery. On going through the provisions of clause (iia) of sub-section (1) of section 32, it is found that additional depreciation

KATH BROTHERS,JAIPUR vs. ACIT, CENTRAL CIRCLE-3, JAIPUR, JAIPUR

In the result, the appeal of the assessee is allowed

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

14 Save as otherwise provided by this Act' clearly leave scope for 'deemed income' of the nature covered under the scheme of sections 69, 69A, 69B and 69C being treated separately, because such deemed income is not income from salary, house property, profits and gains of business or profession, or capital gains, nor is it income from other sources' because

SHREE CEMENT LIMITED,BANGUR NAGAR vs. ACIT, CENTRAL CIRCLE, AJMER

In the result, the appeal of the assessee - appellant in ITA No

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

depreciation @25% on such leasehold rights acquired of Rs. 14,93,25,916/- in accordance with section 32(1)(u) of the Act. The additional

SAROJ DEVI HALDIYA,JAIPUR vs. ITO WARD-6(1), JAIPUR, JAIPUR

14.\nS No Date\nCheque\nNo.\nDrawn on\nAmount\n1\n18.10.2014\n047309\nICICI Bank\n25,00,000/-\n2\n25.10.2014\n047310\nICICI Bank\n25,00,000/-\n3\n30.10.2014\n047311\nICICI Bank\n25,00,000/-\nTotal\n75,00,000/-\nA copy of relevant bank account of the assessee reflecting the above\npayment is available on paper book page

M/S RAJASTHAN RAJYA VIDYUT PRASARAN NIGAM LTD.,VIDYUT BHAWAN, JAN PATH, JYOTI NAGAR, JAIPUR vs. DCIT, CIRCLE-6, , JAIPUR

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

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

depreciation as on 31.03.2015 is to the extent of Rs.2034.40 crore. Providing financial help by the Government to these companies also cannot be a reason for not allowing the claim of bad debt. 5. The claim of bad debts is allowable u/s 36(1)(vii) which reads as under:- “subject to the provisions of sub-section (2), the amount

RAJ KUMAR KANDOI,JAIPUR vs. ACIT CENTRAL CIRCLE 3, JAIPUR, JAIPUR

In the result, the appeal of the assessee stands allowed with no orders as to costs

depreciation [section 32(2)]. (iv) Any other expenditure (not being a capital expenditure) expended wholly and exclusively for the purpose of earning of such income. 8 RAJ KUMAR KANDOI VS ACIT, CIRCLE-3, JAIPUR The case of the assessee is covered in point no. (iv). Hence the addition made by the AO deserves to be deleted. Clauses

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

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

section 115BBE is not applicable. Reliance in this connection is placed on the following decisions:- Smt. Rekha Shekhawat Vs. PCIT (2022) 218 DTR 161 (Jaipur) (Trib.) In view of the fact that the unrecorded trade advances and cash in hand admitted during the course of survey u/s 133A emanated from and related to the real estate business carried

SUPREME BUILDESTATES PVT LTD,MADANGANJ- KISHANGARH vs. DCIT CIRCLE 2 AJMER, JAIPUR ROAD AJMER

In the result, appeal of the assessee is allowed

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

depreciation and development rebate. Section 35 grants deduction on expenditure for scientific research and knowledge extension in natural and applied sciences under agriculture, animal husbandry and fisheries. Payment to approved universities/ 15 Supreme Buildestates Pvt. Ltd. vs. DCIT research institutions or company also qualifies for deduction. In-house R&D is eligible for deduction, under this section. Section 35CCD provides

M/S. GURU KRIPA CAREER INSTITUTE PVT. LTD.,SIKAR vs. PR.CIT-3, JAIPUR

In the result, appeal of the assessee is allowed

depreciation) - Same was allowed - Principal Commissioner invoked revision under section 263 on ground that assessee's income included deemed income being unexplained cash credit under section 68 which is not classified under any heads of income under section 14

SHRI VIKRAM SINGH SHEKHAWAT,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE, SIKAR

In the result, the appeals filed by the assessee in ITA No

section 154—Assessee was following straight line method of depreciation prior to the AY 2002-03—In the year in question, it changed the method to written down value method— Difference due to change in method of depreciation was shown in the profit and loss account under the head 'Expenditure— Depreciation'—Due to this change, book profits got reduced

JAIPUR TELECOM PVT. LTD,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)

depreciation and Interest on TDS was claimed as deduction under bona fide belief as there were judicial pronouncements in favour of assessee on both the issues and assessee made a genuine claim, which eventually stood disallowed. It is not a case that assessee claimed any bogus/excessive expenses nor it is proved by ld.AO. With regards to the observations

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)

depreciation and Interest on TDS was claimed as deduction under bona fide belief as there were judicial pronouncements in favour of assessee on both the issues and assessee made a genuine claim, which eventually stood disallowed. It is not a case that assessee claimed any bogus/excessive expenses nor it is proved by ld.AO. With regards to the observations