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

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 u/s 147/148 of 1.T. Act, 1961 & reopened the case. That the Ld. CIT(A) also erred in upholding the action of Ld. A.O. for reopening of Assessment. 2 OM KOTHARI FOUNDATION VS ITO (EXEMPTION), WARD -1 , JAIPUR 2. That the Ld. A.O. grossly erred on Law and Facts in not accepting the order of Higher Authorities

ASSISTANT COMMISSIONER OF INCOME TAX, AJMER vs. AJMER VIDHYUT VITRAN NIGAM LTD., AJMER

In the result, the appeals filed by the Revenue are dismissed

section 43(1) and explanation 10 thereto. Thereafter, after taking into consideration the submission and explanation of the assessee, though not agreeing with it, the AO want ahead and recalculated the depreciation claim as made by the assessee in its return of income. It is thus seen that all material facts and figures are duly disclosed in the return

ASSISTANT COMMISSIONER OF INCOME TAX, AJMER vs. M/S. AJMER VIDHYUT VITRAN NIGAM LTD., AJMER

In the result, the appeals filed by the Revenue are dismissed

section 43(1) and explanation 10 thereto. Thereafter, after taking into consideration the submission and explanation of the assessee, though not agreeing with it, the AO want ahead and recalculated the depreciation claim as made by the assessee in its return of income. It is thus seen that all material facts and figures are duly disclosed in the return

ASSISTANT COMMISSIONER OF INCOME TAX, AJMER vs. M/S. AJMER VIDHYUT VITRAN NIGAM LTD., AJMER

In the result, the appeals filed by the Revenue are dismissed

section 43(1) and explanation 10 thereto. Thereafter, after taking into consideration the submission and explanation of the assessee, though not agreeing with it, the AO want ahead and recalculated the depreciation claim as made by the assessee in its return of income. It is thus seen that all material facts and figures are duly disclosed in the return

ASSISTANT COMMISSIONER OF INCOME TAX, AJMER vs. M/S. AJMER VIDHYUT VITRAN NIGAM LTD., AJMER

In the result, the appeals filed by the Revenue are dismissed

section 43(1) and explanation 10 thereto. Thereafter, after taking into consideration the submission and explanation of the assessee, though not agreeing with it, the AO want ahead and recalculated the depreciation claim as made by the assessee in its return of income. It is thus seen that all material facts and figures are duly disclosed in the return

ASSISTANT COMMISSIONER OF INCOME TAX, AJMER vs. M/S. AJMER VIDHYUT VITRAN NIGAM LTD., AJMER

In the result, the appeals filed by the Revenue are dismissed

section 43(1) and explanation 10 thereto. Thereafter, after taking into consideration the submission and explanation of the assessee, though not agreeing with it, the AO want ahead and recalculated the depreciation claim as made by the assessee in its return of income. It is thus seen that all material facts and figures are duly disclosed in the return

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

depreciation as application of income. 4. The first question that arises in the present appeal is the entitlement of the assessee society to exemption under section 11 of the Act. The relevant provisions which govern the exemption under section 11, are contained in section 2(15), 11, 12 ,12A, 12AA read with section 13 of the Act. 5. Section

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)

63,017/-has been computed on such assets after considering indexation benefit. In terms of provisions of Section 115JB(5) and as held in Best Trading And Agencies Ltd. -vs- DCIT (IT'A No. 191/2011 dated 26-08-2020)(Karn. HC), gain or loss as per the provisions of Income Tax Act (Le. after indexation) on such assets

DYNAMIC POWERTECH PRIVATE LIMITED,JAIPUR vs. DCIT, CIRCLE 4, JAIPUR

In the result, the appeal of the assessee is allowed

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

63,02,210/- after claiming a deduction u/s 10AA to the tune of Rs. 3,17,05,251/-. Further, assessee company also filed its audit report in Form 56F to claim the deduction u/s 10AA on 27.11.2023 wherein amount of deduction claimed was mentioned as Rs. 3,17,05,251/-. The return was processed under Section

INCOME TAX OFFICER, JAIPUR vs. GOENKA JEWELLERS, JAIPUR

In the result, Ground No. 2 raised by the revenue is also dismissed

Bench: Dr. S. Seethalakshmi & Shri Gagan Goyalito, Ward 2(1), Jaipur ...... Appellant

section 10AA of the Act. But subject to set off of brought forward losses of Rs. 2,57,35,984/- and depreciation of Rs. 13,63

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

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

63,250. The assessment was completed under Section 153A\nvide order dated 21.09.2021, determining the total income at Rs.73,84,060. This\nresulted in an addition of Rs.42,20,814, which included:\na. Disallowance of long-term capital gains exemption of Rs.40,15,061.29 by\ntreating the sale of listed equity shares as a bogus transaction; and\nb. Addition

DCIT, CENTRAL CIRCLE-1, JAIPUR, JAIPUR vs. SNEHLATA AGARWAL, SIKAR

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

63,250. The assessment was completed under Section 153A\nvide order dated 21.09.2021, determining the total income at Rs.73,84,060. This\nresulted in an addition of Rs.42,20,814, which included:\n\na. Disallowance of long-term capital gains exemption of Rs.40,15,061.29 by\ntreating the sale of listed equity shares as a bogus transaction

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

In the result, the appeal of the assessee is allowed

depreciable asset. The order passed by the AO was without any application of mind and AO failed to bring out the facts properly as well as failed to apply the provisions of law correctly which is evident from above. 6. In view of the above, I hold that the order passed by the AO was erroneous and prejudicial

RAJASTHAN STATE MINES & MINERALS LTD.,JAIPUR vs. ACIT, JAIPUR

In the result, appeal of the Revenue is partly allowed for statistical purpose

section 43B. In view of the mandate of clause (a) of section 47 ITA No. 253/JP/2015 along with 13 other appeals. M/s Rajasthan State Mines & Minerals Ltd. 43B of the Act, we do not see any reason to interfere into the order of the Ld. CIT(A), same is hereby affirmed, the ground of the assessee’s appeal is dismissed

SHRI BABOO LAL ,JAIPUR vs. ITO, WARD-6(1), JAIPUR

In the result, ground no. 1 & 3 are dismissed, ground no

63,750/-} allowable as per expl. 5 to section 32 of IT Act for which no claim was needed.” 2. Briefly the facts of the case are that the assessee firm is engaged in the business of civil construction and has filed its return of income declaring total income of Rs. 2,64,178/- which was selected for scrutiny

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

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

depreciation (Rs.26,63,677) and other expenses. Infact the counsel of the assessee CA Parag Pareek wanted to explain the difference in the net profit by personally attending the hearing before CIT(A) but because of mouth surgery of the counsel, only partial reply was filed on 24.05.2024 but the CIT(A) passed the appellate order without providing adequate opportunity

SHREE CEMENT LIMITED,BEAWAR vs. NATIONAL FACELESS ASSESSMENT CENTRE, DELHI

In the result, the appeal of the Revenue in ITA No

Bench: or at the time of hearing of this appeal.

Section 80IA(8), the word "OR" is missing in provisions of Section 80A(6) of the ACIT vs. Shree Cement Ltd. Act. It is noted that as per provisions of Section 80A(6), if any goods or services whether sold or acquired falls within the category specified domestic transactions of Section 92BA then in such case it is mandatory