DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, JAIPUR vs. M/S KSHEER SAGAR DEVELOPERS PVT. LTD., JAIPUR

In the result, all these five appeals of the revenue are dismissed

Bench: Shri Sandeep Gosain, Jm & Shri Vikram Singh Yadav, Am Vk;Dj Vihy La-@Ita Nos. 1158 To 1162/Jp/2019 Assessment Years: 2011-12 To 2015-16 Deputy Commissioner Of Cuke M/S Ksheer Sagar Developers Vs. Income Tax, Pvt. Ltd., Central Circle-2, Hotel Royal Orchid, Opp.- Bsnl Jaipur. Office, Near Durgapura Flyover, Tonk Road, Jaipur-302018. Pan No.: Aacck 3154 G Vihykfkhz@Appellant Izr;Fkhz@Respondent Jktlo Dh Vksj Ls@ Revenue By : Shri Rajendra Singh (Cit-Dr) Fu/Kzkfjrh Dh Vksj Ls@ Assessee By: Shri S.R. Sharma, (Ca) & Shri Rajnikant Bhatra (Ca) Lquokbz Dh Rkjh[K@ Date Of Hearing : 06/07/2021 Mn?Kks"K.Kk Dh Rkjh[K@ Date Of Pronouncement : 31/08/2021 Vkns'K@ Order Per: Sandeep Gosain, J.M. These Are The Appeals Filed By The Revenue Against The Two Separate Orders Of The Ld. Cit(A)-4, Jaipur All Dated 31/07/2019 For The A.Y. 2011- 12 To 2015-16 Respectively.

7) in Form 10CCB alongwith return is not a mandatory provision but only a directory one and the same can be filed 23 ITA 1158 to 1162/JP/2019_ DCIT Vs M/s Ksheer Sagar Developers P Ltd. any time before completion of assessment. The provision is analogous to same provision contained in Section 80HHA, 80HHC, 80IB

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, JAIPUR vs. M/S KSHEER SAGAR DEVELOPERS PVT. LTD., JAIPUR

In the result, all these five appeals of the revenue are dismissed

Bench: Shri Sandeep Gosain, Jm & Shri Vikram Singh Yadav, Am Vk;Dj Vihy La-@Ita Nos. 1158 To 1162/Jp/2019 Assessment Years: 2011-12 To 2015-16 Deputy Commissioner Of Cuke M/S Ksheer Sagar Developers Vs. Income Tax, Pvt. Ltd., Central Circle-2, Hotel Royal Orchid, Opp.- Bsnl Jaipur. Office, Near Durgapura Flyover, Tonk Road, Jaipur-302018. Pan No.: Aacck 3154 G Vihykfkhz@Appellant Izr;Fkhz@Respondent Jktlo Dh Vksj Ls@ Revenue By : Shri Rajendra Singh (Cit-Dr) Fu/Kzkfjrh Dh Vksj Ls@ Assessee By: Shri S.R. Sharma, (Ca) & Shri Rajnikant Bhatra (Ca) Lquokbz Dh Rkjh[K@ Date Of Hearing : 06/07/2021 Mn?Kks"K.Kk Dh Rkjh[K@ Date Of Pronouncement : 31/08/2021 Vkns'K@ Order Per: Sandeep Gosain, J.M. These Are The Appeals Filed By The Revenue Against The Two Separate Orders Of The Ld. Cit(A)-4, Jaipur All Dated 31/07/2019 For The A.Y. 2011- 12 To 2015-16 Respectively.

7) in Form 10CCB alongwith return is not a mandatory provision but only a directory one and the same can be filed 23 ITA 1158 to 1162/JP/2019_ DCIT Vs M/s Ksheer Sagar Developers P Ltd. any time before completion of assessment. The provision is analogous to same provision contained in Section 80HHA, 80HHC, 80IB

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, JAIPUR vs. M/S KSHEER SAGAR DEVELOPERS PVT. LTD., JAIPUR

In the result, all these five appeals of the revenue are dismissed

Bench: Shri Sandeep Gosain, Jm & Shri Vikram Singh Yadav, Am Vk;Dj Vihy La-@Ita Nos. 1158 To 1162/Jp/2019 Assessment Years: 2011-12 To 2015-16 Deputy Commissioner Of Cuke M/S Ksheer Sagar Developers Vs. Income Tax, Pvt. Ltd., Central Circle-2, Hotel Royal Orchid, Opp.- Bsnl Jaipur. Office, Near Durgapura Flyover, Tonk Road, Jaipur-302018. Pan No.: Aacck 3154 G Vihykfkhz@Appellant Izr;Fkhz@Respondent Jktlo Dh Vksj Ls@ Revenue By : Shri Rajendra Singh (Cit-Dr) Fu/Kzkfjrh Dh Vksj Ls@ Assessee By: Shri S.R. Sharma, (Ca) & Shri Rajnikant Bhatra (Ca) Lquokbz Dh Rkjh[K@ Date Of Hearing : 06/07/2021 Mn?Kks"K.Kk Dh Rkjh[K@ Date Of Pronouncement : 31/08/2021 Vkns'K@ Order Per: Sandeep Gosain, J.M. These Are The Appeals Filed By The Revenue Against The Two Separate Orders Of The Ld. Cit(A)-4, Jaipur All Dated 31/07/2019 For The A.Y. 2011- 12 To 2015-16 Respectively.

7) in Form 10CCB alongwith return is not a mandatory provision but only a directory one and the same can be filed 23 ITA 1158 to 1162/JP/2019_ DCIT Vs M/s Ksheer Sagar Developers P Ltd. any time before completion of assessment. The provision is analogous to same provision contained in Section 80HHA, 80HHC, 80IB

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, JAIPUR vs. M/S KSHEER SAGAR DEVELOPERS PVT. LTD., JAIPUR

In the result, all these five appeals of the revenue are dismissed

Bench: Shri Sandeep Gosain, Jm & Shri Vikram Singh Yadav, Am Vk;Dj Vihy La-@Ita Nos. 1158 To 1162/Jp/2019 Assessment Years: 2011-12 To 2015-16 Deputy Commissioner Of Cuke M/S Ksheer Sagar Developers Vs. Income Tax, Pvt. Ltd., Central Circle-2, Hotel Royal Orchid, Opp.- Bsnl Jaipur. Office, Near Durgapura Flyover, Tonk Road, Jaipur-302018. Pan No.: Aacck 3154 G Vihykfkhz@Appellant Izr;Fkhz@Respondent Jktlo Dh Vksj Ls@ Revenue By : Shri Rajendra Singh (Cit-Dr) Fu/Kzkfjrh Dh Vksj Ls@ Assessee By: Shri S.R. Sharma, (Ca) & Shri Rajnikant Bhatra (Ca) Lquokbz Dh Rkjh[K@ Date Of Hearing : 06/07/2021 Mn?Kks"K.Kk Dh Rkjh[K@ Date Of Pronouncement : 31/08/2021 Vkns'K@ Order Per: Sandeep Gosain, J.M. These Are The Appeals Filed By The Revenue Against The Two Separate Orders Of The Ld. Cit(A)-4, Jaipur All Dated 31/07/2019 For The A.Y. 2011- 12 To 2015-16 Respectively.

7) in Form 10CCB alongwith return is not a mandatory provision but only a directory one and the same can be filed 23 ITA 1158 to 1162/JP/2019_ DCIT Vs M/s Ksheer Sagar Developers P Ltd. any time before completion of assessment. The provision is analogous to same provision contained in Section 80HHA, 80HHC, 80IB

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

94,32,33,840/-. The assessment was completed u/s 143(3) on 17.03.2015 at total income of Rs.4,95,59,27,360/-. Thereafter, the Assessing officer issued notice u/s 148 dt. 15.11.2016 by recording the following reasons:- “The assessee e-filed its return of income for AY 2012-13 on 28.09.2012 declaring total income of Rs.494,32,33,840/-, which

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)

sections (4) to (10) and as increased by the applicable surcharge, for the purposes of the Union, calculated in the manner provided therein, shall be further increased by an additional surcharge, for the purposes of the Union, to be called the “Health and Education Cess on income-tax”, calculated at the rate of four per cent of such income

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

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

7 the Ld. Counsel for the assessee reiterated the submissions as made in the written brief. 45 ITA No. 253/JP/2015 along with 13 other appeals. M/s Rajasthan State Mines & Minerals Ltd. 38.1 On the contrary, Ld. Departmental Representatives supported the order of the Assessing Officer. 38.2 We have heard the rival contentions, perused the material available on record

WHOLE SALE CLOTH MERCHANT ASSOCIATION ,KOTA vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE KOTA , KOTA

94,824/- on account of unverifiable creditors. 6. That on the facts and in the circumstances of the case, the ld. Ld. Lower Authority grossly erred in disallowance of 15% of Rs 2,68,89,419/- i.e 40,33,412/- on account of construction expenses and added in total income of the assessee. without considering the fact that

INCOME TAX OFFICER, WARD-1-1, KOTA vs. SHRI CHANDI RAM, KOTA

In the result, appeal of the revenue is dismissed

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

7. Being aggrieved, the assessee carried the matter in appeal before the ld. CIT(A). Before the ld. CIT(A) the assessee has challenged the reopening proceeding and the addition made by the AO. The ld. CIT(A) upheld the reopening proceeding. But in respect of the addition made by the ld. AO the relevant finding

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.

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

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

M/S. JAIPUR TAX WEAVING PARK LTD.,JAIPUR vs. INCOME TAX OFFICER, JAIPUR

In the result, appeal filed by the assessee is allowed

Bench: Her.”

depreciation in future years. 13. In the case of Tuticorin Alkali Chemicals & Fertilzers Ltd. v/s CIT (227 ITR 172) (SC), there was no issue before the Hon'ble SC regarding connection of the income earned inextricably with the borrowed funds and hence it was verdicted that interest on surplus funds during Pre operation period is liable to be taxed separately

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

In the result, the appeal of the assessee is allowed

section 143(3) of the Act. 6 HINDUSTAN SALES INDUSTRIAL CORPORATION, JAIPUR VS PR. CIT-1, JAIPUR 5. After culmination of the assessment proceedings vide assessment order dated 18-10-2018, a show cause notice u/s 263 of the Act was issued on 16-03-2021 to the assessee by the ld. PCIT, Jaipur -1 observing as under:- ‘’Sub: - Show

ASSISTANT COMMISSIONER OF INCOME TAX , CIRCLE-2, JAIPUR vs. M/S. ANGEL INFRASTRUCTURE PRIVATE LIMITED, JAIPUR

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

depreciation: 10. Whether the provisions of section This is a case where income 150(1) are applicable. If the reply is in has escaped assessment. affirmative, the relevant facts may be stated against item No. 11 and it may be brought out that the provisions of sections 150(2) would not stand in the way of initiating proceeding

M/S ANGEL INFRASTRUCTURE (P) LTD.,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, JAIPUR

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

depreciation: 10. Whether the provisions of section This is a case where income 150(1) are applicable. If the reply is in has escaped assessment. affirmative, the relevant facts may be stated against item No. 11 and it may be brought out that the provisions of sections 150(2) would not stand in the way of initiating proceeding

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

M/S KISHANGARH HI TECH TEXTILE PARK LTD.,KISHANGARH vs. ASSISTANT COMMISSIONER OF INCOME TAX (TECH), AJMER

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

7. It was submitted by the ld CIT DR that the scheme was therefore to provide financial assistance towards directly meeting the actual cost of the assets and the assessee has also furnished the utilization certificates that the grant has been actually utilized against the specified assets so specified. It was accordingly submitted that the grant sanctioned by the Ministry

M/S KISHANGARH HI TECH TEXTILE PARK LTD.,KISHANGARH vs. ASSISTANT COMMISSIONER OF INCOME TAX (TECH), AJMER

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

7. It was submitted by the ld CIT DR that the scheme was therefore to provide financial assistance towards directly meeting the actual cost of the assets and the assessee has also furnished the utilization certificates that the grant has been actually utilized against the specified assets so specified. It was accordingly submitted that the grant sanctioned by the Ministry