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 with effect the A.Y. 2009-10 and onwards. The learned assessing officer disallowed the benefit of exemption to the appellant in the assessment order on the ground that the appellant has violated the investment norms as provided under the four for the trust. It is an undisputed fact that the appellant is having investment in equity shares

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

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 on leasehold rights u/s 32(1)(ii) being business or commercial right acquired during the year under consideration. 5. That on the facts and in the circumstances of the case, necessary direction may be given to the A.O. to allow the claim of Deduction u/s 80-IA and 80-IC while computing book profit u/s 115JB

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

In the result, the appeal of the assessee is allowed

79/-. The assessment was completed vide order under section 143(3) dated 18/10/2018 at a total income of Rs. 22,97,14,97/-. 2. The said order was set aside by ld. PCIT assuming jurisdiction under section 263 vide order dated 30/3/2021. The present appeal is against the said order u/s 263. 3. The case of the assessee was picked

ASSISSTANT COMMISSIONER OF INCOME TAX, AJMER vs. SHREE CEMENT LTD, BEAWAR

depreciable asset is liable to be\nexcluded from calculation of deemed profits under section\n115JA - Held, yes.”\n(i)In ITO v. Suraj Jewellery (India) Ltd. [2008] 21 SOT 79

DCIT, CC-2, JAIPUR vs. SHRI VIMAL CHAND SURANA(HUF), JAIPUR

In the result, the appeal of the revenue stands dismissed

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

79[(1)] 80[Notwithstanding anything contained in section 139, section 147, section 148, section 149, section 151 and section 153, where the Assessing Officer is satisfied that,— (a) any money, bullion, jewellery or other valuable article or thing, seized or requisitioned, 81belongs to; or (b) any books of account or documents, seized or requisitioned, pertains or pertain

SHRI MADHO LAL SAINI,JAIPUR vs. ITO, WARD-2(3), JAIPUR

In the result, the appeals of the assessees are allowed

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

79[(1)] 80[Notwithstanding anything contained in section 139, section 147, section 148, section 149, section 151 and section 153, where the Assessing Officer is satisfied that,— (a) any money, bullion, jewellery or other valuable article or thing, seized or requisitioned, 81belongs to; or (b) any books of account or documents, seized or requisitioned, pertains or pertain

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

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

Section 147/148 of the Act. The assessee\ntherefore before us by preferring the present Cross-Objection to challenge\nthe directions and to raise other legal and factual grounds in support of the\ndeletion of the addition. Record reveals that Id. CIT(A) vide page 36 while\ndealing with the appeal of the assessee has issued direction

DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-3, JAIPUR vs. SAPNA KARNANI, TONK PHATAK

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

Section 153A/153C\nwere struck down due to absence of incriminating material. This administrative\ninstructions are not binding on quasi-judicial authorities like the CIT(A). It is a\nsettled principle of law, as held by the Hon'ble Supreme Court in UCO Bank v.\nCIT [(1999) 237 ITR 889 (SC)] (CLC 41-49), that CBDT circulars or instructions\ncannot override

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)

section 69.” • In the case of Bajaj Sons. Ltd., the Hon’ble Chandigarh Bench of ITAT, ITA No. 1127/CHD/2019, has stated as under: “The AO has not pointed out any unexplained credit in the books of account, any unexplained investment, any unexplained money, bullion or jewellery, any unexplained expenditure or any amount of loan repaid in the assessment order

SHREE CEMENT LIMITED,BEAWAR vs. NATIONAL FACELESS ASSESSMENT CENTRE, DEPUTY COMMISSIONEROF INCOME TAX, CIRCLE -2, AJMER, AJMER

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

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

depreciable asset is liable to be excluded from calculation of deemed profits under section 115JA - Held, yes.” (i) In ITO v. Suraj Jewellery (India) Ltd. [2008] 21 SOT 79

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.

depreciable asset is liable to be excluded from calculation of deemed profits under section 115JA - Held, yes.” (i) In ITO v. Suraj Jewellery (India) Ltd. [2008] 21 SOT 79

ASSISSTANT COMMISSIONER OF INCOME TAX, AJMER vs. SHREE CEMENT LTD, BEAWAR

Accordingly, the same is dismissed

depreciable asset is liable to be excluded from calculation of deemed profits under section 115JA - Held, yes.” (i)In ITO v. Suraj Jewellery (India) Ltd. [2008] 21 SOT 79

SHREE CEMENT LIMITED,BEAWAR vs. NATIONAL FACELESS ASSESSMENT ASSESSMENT CENTRE, DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-2, AJMER, AJMER

depreciable asset is liable to be excluded from calculation of deemed profits under section 115JA - Held, yes.”\n(i) In ITO v. Suraj Jewellery (India) Ltd. [2008] 21 SOT 79

CHAMBAL FERTILISERS AND CHEMICALS LIMITED,KOTA vs. DCIT, KOTA

In the result, appeal of the revenue is dismissed

section 32 of the Act as per prescribed rate of depreciation so provided in the Income tax Rules on such anicut facility in light of decision of the Hon’ble Supreme Court referred supra. 13 ITA NO. 201(6)/JP/2017 M/s. Chambal Fertilizers & Chemicals Ltd. 71. Now, coming to various decisions relied upon by the ld AR. We have carefully

CHAMBAL FERTILISERS AND CHEMICALS LIMITED,KOTA vs. ACIT, KOTA

In the result, appeal of the revenue is dismissed

section 32 of the Act as per prescribed rate of depreciation so provided in the Income tax Rules on such anicut facility in light of decision of the Hon’ble Supreme Court referred supra. 13 ITA NO. 201(6)/JP/2017 M/s. Chambal Fertilizers & Chemicals Ltd. 71. Now, coming to various decisions relied upon by the ld AR. We have carefully

M/S. CHAMBAL FERTILIZERS AND CHEMICALS LIMITED,KOTA vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2, KOTA

In the result, appeal of the revenue is dismissed

section 32 of the Act as per prescribed rate of depreciation so provided in the Income tax Rules on such anicut facility in light of decision of the Hon’ble Supreme Court referred supra. 13 ITA NO. 201(6)/JP/2017 M/s. Chambal Fertilizers & Chemicals Ltd. 71. Now, coming to various decisions relied upon by the ld AR. We have carefully

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

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

depreciation, allowed\nunder different heads could not exceed the original cost to the assessee of those\nitems of capital assets. The appellant cannot be held liable because of this\nremissness on the part of the Income-tax Officer in not applying the law contained\nin clause (c) of the proviso to section

DCIT, CENTRAL CIRCLE-1, JAIPUR , JAIPUR vs. USHA BANKA, SIKAR

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

depreciation, allowed\nunder different heads could not exceed the original cost to the assessee of those\nitems of capital assets. The appellant cannot be held liable because of this\nremissness on the part of the Income-tax Officer in not applying the law contained\nin clause (c) of the proviso to section