M/S NABH MULTITRADE PVT. LTD.,JAIPUR vs. INCOME TAX OFFICER, JAIPUR

In the result, appeal of the assessee is allowed

section 56(2)(viib) of the Act. There is no dispute in the case in hand 9 M/s. Nabh Multitrade Pvt. Ltd., Jaipur. that the value determined as per the fair market value of the assets of the assessee company as on the date of issue of shares is Rs. 230/- per share which is higher than the value determined

M/S. RAJASTHAN CRICKET ASSOCIATION,JAIPUR vs. ADD.CIT. RANGE-2, 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

56. The assessee is a member of Board of Control for Cricket in India (BCCI), which in turn is a member of ICC(International Cricket Council). BCCI allots test matches with visiting foreign team and one day international matches to various member cricket association which organise the matches in their stadia. The franchisees conduct matches in the Stadia belonging

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

56(2)(ix) of the income Tax\nAct. The addition made by the learned AO is patently wrong because the\nassessee was never owing the plot, the assessee never received advance\nand further the action of the assessee was that of a middle man for Dr. Anil\nTambi/M/s Jagdish Health Care Pvt. Limited and in the last the facts stated

JODHPUR DEVELOPMENT AUTHORITY,JODHPUR vs. DCIT (EXEMPTION), JAIPUR

In the result, the appeal in ITA no

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

56,000 Income from Corporation Assets & Investments 73,15,21,440 Miscellaneous Income 1,43,98,908 Total Income - I 111,07,07,471 Expenditure Amount Establishment Expenses 69,25,18,423 General Administrative Expenses 4,98,42,868 Public Works 64,72,79,927 Interest and Financial Expenses 1,07,13,925 Miscellaneous Expenses 39,69,24,407 Depreciation

JODHPUR DEVELOPMENT AUTHORITY,JODHPUR vs. DCIT (EXEMPTION), JAIPUR

In the result, the appeal in ITA no

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;djvihy la-@ITA No. 665 & 666/JPR/2023 fu/kZkj.ko"kZ@Assessment Years : 2009-10 & 2013-14 Jodhpur Development Authority 1, Opposite Railway Hospital, JDA Circle, Jodhpur. cuke Vs. Deputy Commissioner of Income Tax, Exemption, Jodhpur. LFkk;hys[kk la-@thvkbZvkj la-@PAN/GIR No.: AAALJ 0478 P vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksjls@Assesseeby : Shri Amit Kothari (C.A.) jktLo dh vksjls@Revenue by:

56,000 Income from Corporation Assets & Investments 73,15,21,440 Miscellaneous Income 1,43,98,908 Total Income - I 111,07,07,471 Expenditure Amount Establishment Expenses 69,25,18,423 General Administrative Expenses 4,98,42,868 Public Works 64,72,79,927 Interest and Financial Expenses 1,07,13,925 Miscellaneous Expenses 39,69,24,407 Depreciation

DCIT, JAIPUR vs. RAJASTHAN COOPERATIVE DAIRY FEDERATION LTD, JAIPUR

In the result the appeal of the revenue in ITA No

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

56(i)(ccv) of the Banking Regulations Act, 1949, defines a primary co-operative society bank as the meaning of co-operative society. Therefore, a Co-operative Society Bank would be included in the words co-operative society'. 10. Admittedly, the interest which the assessee respondent had earned was from a Co- operative Society Bank. Therefore, according

DCIT, JAIPUR vs. RAJASTHAN COOPERATIVE DAIRY FEDERATION LTD, JAIPUR

In the result the appeal of the revenue in ITA No

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

56(i)(ccv) of the Banking Regulations Act, 1949, defines a primary co-operative society bank as the meaning of co-operative society. Therefore, a Co-operative Society Bank would be included in the words co-operative society'. 10. Admittedly, the interest which the assessee respondent had earned was from a Co- operative Society Bank. Therefore, according

DCIT, JAIPUR vs. RAJASTHAN COOPERATIVE DAIRY FEDERATION LTD, JAIPUR

In the result the appeal of the revenue in ITA No

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

56(i)(ccv) of the Banking Regulations Act, 1949, defines a primary co-operative society bank as the meaning of co-operative society. Therefore, a Co-operative Society Bank would be included in the words co-operative society'. 10. Admittedly, the interest which the assessee respondent had earned was from a Co- operative Society Bank. Therefore, according

ACIT(EXEMP), CIRCLE, JAIPUR, JAIPUR vs. RAJASTHAN STATE ROAD TRANSPORT CORPORATION, JAIPUR

In the result, the appeals of the Revenue is dismissed

56,24,135/-. After claiming various expenditure of Rs. 21,99,97,55,976/- and adjustment of disallowable expenditure it has shown net loss of Rs. 4,92,41,31,841/-. The corporation is registered as a charitable institution u/s 12A(a) of the IT Act dated 08.03.1989. The objects fall in the last limb of the definition of section

ACIT(EXEMP), CIRCLE, JAIPUR, JAIPUR vs. RAJASTHAN STATE ROAD TRANSPORT CORPORATION, JAIPUR

In the result, the appeals of the Revenue is dismissed

56,24,135/-. After claiming various expenditure of Rs. 21,99,97,55,976/- and adjustment of disallowable expenditure it has shown net loss of Rs. 4,92,41,31,841/-. The corporation is registered as a charitable institution u/s 12A(a) of the IT Act dated 08.03.1989. The objects fall in the last limb of the definition of section

ACIT(EXEMP), CIRCLE, JAIPUR, JAIPUR vs. RAJASTHAN STATE ROAD TRANSPORT CORPORATION, JAIPUR

In the result, the appeals of the Revenue is dismissed

56,24,135/-. After claiming various expenditure of Rs. 21,99,97,55,976/- and adjustment of disallowable expenditure it has shown net loss of Rs. 4,92,41,31,841/-. The corporation is registered as a charitable institution u/s 12A(a) of the IT Act dated 08.03.1989. The objects fall in the last limb of the definition of section

ACIT(EXEMP), CIRCLE, JAIPUR, JAIPUR vs. RAJASTHAN STATE ROAD TRANSPORT CORPORATION, JAIPUR

In the result, the appeals of the Revenue is dismissed

56,24,135/-. After claiming various expenditure of Rs. 21,99,97,55,976/- and adjustment of disallowable expenditure it has shown net loss of Rs. 4,92,41,31,841/-. The corporation is registered as a charitable institution u/s 12A(a) of the IT Act dated 08.03.1989. The objects fall in the last limb of the definition of section

ACIT(EXEMP), CIRCLE, JAIPUR, JAIPUR vs. RAJASTHAN STATE ROAD TRANSPORT CORPORATION, JAIPUR

In the result, the appeals of the Revenue is dismissed

56,24,135/-. After claiming various expenditure of Rs. 21,99,97,55,976/- and adjustment of disallowable expenditure it has shown net loss of Rs. 4,92,41,31,841/-. The corporation is registered as a charitable institution u/s 12A(a) of the IT Act dated 08.03.1989. The objects fall in the last limb of the definition of section

M/S WHOLESALE CLOTH MERCHANT,KOTA vs. PR. COMMISSIONER OF INCOME TAX (CENTRAL), RAJASTHAN, JAIPUR

In the result, appeal of the assessee is allowed

Bench: Shri Sandeep Gosain, Jm & Shri Vikram Singh Yadav, Am Vk;Dj Vihy La-@Ita No. 688/Jp/2019 Assessment Year: ………………………… M/S Wholesale Cloth Merchant Cuke Pr.C.I.T. (Central), Vs. Association, Jaipur (Rajasthan) New Cloth Market, Kota. Pan No.: Aaatw 0127 C Vihykfkhz@Appellant Izr;Fkhz@Respondent Fu/Kzkfjrh Dh Vksj Ls@ Assessee By : Shri Siddarth Ranka & Shri Shravan Kr. Gupta (Advs) Jktlo Dh Vksj Ls@ Revenue By : Shri Ambrish Bedi (Cit-Dr) Lquokbz Dh Rkjh[K@ Date Of Hearing : 14/10/2020 Mn?Kks"K.Kk Dh Rkjh[K@ Date Of Pronouncement : 06/01/2021 Vkns'K@ Order Per: Sandeep Gosain, J.M. The Present Appeal Has Been Filed By The Assessee Against The Order Of The Ld. Pr.Cit(Central), Rajasthan, Jaipur Dated 22/03/2019 Passed U/S 12Aa(3) & 12Aa(4) Of The Income Tax Act, 1961 (In Short, The Act). Following Grounds Have Been Taken By The Assessee: “1. That In The Facts & In The Circumstances Of The Case & In Law, The Ld Pr. Cit(Central), Rajasthan, Jaipur Has Grossly Erred In Cancelling The Registration Of The Assessee Appellant Trust Under Section 12A Of The Act By Invoking Section 12Aa(4) Of The Act W.E.F. 01/04/2013. 2. The Appellant Craves Leave To Add, Alter, Modify Or Amend Any Ground On Or Before The Date Of Hearing.”

depreciation in respect of which deduction has been allowed as an application of income u/s 11. In view of the above, we hold that AO was not justified in denying the benefit of the exemption u/s 11 of the Act and we direct the AO to compute the income in accordance with the provision of section 11. Ground no.6

DEPUTY COMMISSIONER OF INCOME TAX, JAIPUR vs. M/S WORSHIP INFRAPROJECTS PVT LTD(PREVIOUSLY KNOWN AS OM METALS SPML INFRAPROJECTS PVT LTD), JAIPUR

In the result of the appeal of the assessee is allowed

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

Depreciation 2,32,414 2,32,414 Total Expenses 56,88,968 56,88,968 Adjusted Profit 4,09,19,882 2,52,91,655 M/s. Worship Infraprojects Pvt. Ltd., Jaipur. before tax (A) Profit before tax 90,48,708 90,48,708 as reported (B) Adjustment (A-B) 3,18,71,174 1,62,42,947 Actual Price

WORSHIP INFRAPROJECTS PRIVATE LIMITED,JAIPUR vs. DCIT, CEIRCLE-2, JAIPUR

In the result of the appeal of the assessee is allowed

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

Depreciation 2,32,414 2,32,414 Total Expenses 56,88,968 56,88,968 Adjusted Profit 4,09,19,882 2,52,91,655 M/s. Worship Infraprojects Pvt. Ltd., Jaipur. before tax (A) Profit before tax 90,48,708 90,48,708 as reported (B) Adjustment (A-B) 3,18,71,174 1,62,42,947 Actual Price

CASTAMET WORKS PRIVATE LIMITED,KHARWA vs. PRINCIPLE COMMISSIONER OF INCOME TAX, UDAIPUR

section 14A(1), deduction of that expenditure is not to be allowed which has been incurred by the assessee in relation to income which does not form part of the total income under this Act. Axiomatically, it is that expenditure alone which has been incurred in relation to the income which is includible in total income that

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)

depreciation by a charitable trust is allowed as deduction and does not amount to taking of double benefit.  CIT vs. Market Committee, Pipli [330 ITR 60] (P&H)  CIT vs. Society of Sisters of St. Anne [146 ITR 28] (Kar)  CIT vs. Bhoruka Public Charitable Trust [240 ITR 513] (Cal)  CIT vs. Institute of Banking Personnel Selection (IBPS) [131 Taxman