DCIT, JAIPUR vs. RAJASTHAN FINANCIAL CORPORATION, JAIPUR

In the result, the appeal of the revenue is dismissed

Bench: The Hearing.”

disallowance made by the Assessing Officer on account of bad debts but appellant challenged the action of Assessing Officer for application of provision of section 115JB in appeal. In appeal no. 5 Rajasthan Financial Corporation 610/14-15 dated 30.09.2016, CIT(A) has decided this issue in favour of assessee. Against this, department prefer appeal before Hon'ble ITAT, Jaipur

NARAIN LAL AGRAWAL,JAIPUR vs. DCIT CIRCLE 1 JAIPUR, JAIPUR

In the result the appeal of the assessee is allowed

14 lacs with the\ndeveloper to year mark the said premises for Rs 70 lacs. Even if for\nthe time being it is assumed that this agreement is merely a letter of\nintent, still amount mentioned in this so called letter of intent can't\nbe changed by either of the party. At the max the parties involved\nmay

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)

14. Therefore, in light of the aforesaid decision, in the instant case, for the purposes of section 80P(2)(d) of the Act, Jaipur Central Cooperative Bank Ltd shall be treated as a co- operative society. Therefore, interest on FDRs placed by the assessee society with such cooperative society shall be eligible for deduction u/s 80P(2

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)

14. Therefore, in light of the aforesaid decision, in the instant case, for the purposes of section 80P(2)(d) of the Act, Jaipur Central Cooperative Bank Ltd shall be treated as a co- operative society. Therefore, interest on FDRs placed by the assessee society with such cooperative society shall be eligible for deduction u/s 80P(2

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)

14. Therefore, in light of the aforesaid decision, in the instant case, for the purposes of section 80P(2)(d) of the Act, Jaipur Central Cooperative Bank Ltd shall be treated as a co- operative society. Therefore, interest on FDRs placed by the assessee society with such cooperative society shall be eligible for deduction u/s 80P(2

ACIT, CIRCLE, BHARATPUR vs. M/S. JAGDAMBE STONE COMPANY, BHARATPUR

In the result, this appeal of the Revenue is dismissed

Bench: Shri Sandeep Gosain, Jm & Shri Vikram Singh Yadav, Am

disallowance under section 40(a)(ia) read with section 194C of the Act. IN this regard, he placed reliance on the judgement of ITAT Kolkata in the case of Soma Rani Ghosh Vs DCIT Kolkata, ITA No. 1420/KOL/2015. Once the conditions of Section 194C(6) is satisfied, the liability to deduct the TDS would cease and accordingly, application of section

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

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

14,780/- under the head LTCG exempt\nunder section 10(38) of the Act. (Annexure A/1)\nHe also based on the MCA master data submitted that the company has\nfiled its balance sheet with ROC up to 31/03/2020 & last AGM of company\nwas held on 24/12/2020. The share is also traded on BSE. Based on that\nset of facts

DCIT, CENTRAL CIRCLE-1, JAIPUR, JAIPUR vs. PRIYA DEWAN, SIKAR

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

14,780/- under the head LTCG exempt\nunder section 10(38) of the Act. (Annexure A/1)\nHe also based on the MCA master data submitted that the company has\nfiled its balance sheet with ROC up to 31/03/2020 & last AGM of company\nwas held on 24/12/2020. The share is also traded on BSE. Based on that\nset of facts

DCIT, CENTRAL CIRCLE-1, JAIPUR, JAIPUR vs. PRIYA DEWAN, SIKAR

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

14,780/- under the head LTCG exempt\nunder section 10(38) of the Act. (Annexure A/1)\nHe also based on the MCA master data submitted that the company has\nfiled its balance sheet with ROC up to 31/03/2020 & last AGM of company\nwas held on 24/12/2020. The share is also traded on BSE. Based on that\nset of facts

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

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

14,780/- under the head LTCG exempt\nunder section 10(38) of the Act. (Annexure A/1)\nHe also based on the MCA master data submitted that the company has\nfiled its balance sheet with ROC up to 31/03/2020 & last AGM of company\nwas held on 24/12/2020. The share is also traded on BSE. Based on that\nset of facts

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

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

14,780/- under the head LTCG exempt\nunder section 10(38) of the Act. (Annexure A/1)\nHe also based on the MCA master data submitted that the company has\nfiled its balance sheet with ROC up to 31/03/2020 & last AGM of company\nwas held on 24/12/2020. The share is also traded on BSE. Based on that\nset of facts

DCIT, CENTRAL CIRCLE-1, JAIPUR, JAIPUR vs. TRILOK DEWAN, SIKAR

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

14,780/- under the head LTCG exempt\nunder section 10(38) of the Act. (Annexure A/1)\nHe also based on the MCA master data submitted that the company has\nfiled its balance sheet with ROC up to 31/03/2020 & last AGM of company\nwas held on 24/12/2020. The share is also traded on BSE. Based on that\nset of facts

DCIT, CENTRAL CIRCLE-1, JAIPUR, JAIPUR vs. SARITA DEWAN, SIKAR

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

14,780/- under the head LTCG exempt\nunder section 10(38) of the Act. (Annexure A/1)\nHe also based on the MCA master data submitted that the company has\nfiled its balance sheet with ROC up to 31/03/2020 & last AGM of company\nwas held on 24/12/2020. The share is also traded on BSE. Based on that\nset of facts

DCIT, CENTRAL CIRCLE-1, JAIPUR, JAIPUR vs. SARITA DEWAN, SIKAR

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

14,780/- under the head LTCG exempt\nunder section 10(38) of the Act. (Annexure A/1)\nHe also based on the MCA master data submitted that the company has\nfiled its balance sheet with ROC up to 31/03/2020 & last AGM of company\nwas held on 24/12/2020. The share is also traded on BSE. Based on that\nset of facts

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

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

14,780/- under the head LTCG exempt\nunder section 10(38) of the Act. (Annexure A/1)\nHe also based on the MCA master data submitted that the company has\nfiled its balance sheet with ROC up to 31/03/2020 & last AGM of company\nwas held on 24/12/2020. The share is also traded on BSE. Based on that\nset of facts

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

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

14,780/- under the head LTCG exempt\nunder section 10(38) of the Act. (Annexure A/1)\nHe also based on the MCA master data submitted that the company has\nfiled its balance sheet with ROC up to 31/03/2020 & last AGM of company\nwas held on 24/12/2020. The share is also traded on BSE. Based on that\nset of facts

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

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

14,780/- under the head LTCG exempt\nunder section 10(38) of the Act. (Annexure A/1)\nHe also based on the MCA master data submitted that the company has\nfiled its balance sheet with ROC up to 31/03/2020 & last AGM of company\nwas held on 24/12/2020. The share is also traded on BSE. Based on that\nset of facts

CAREER POINT LIMITED,KOTA, RAJASTHAN vs. PRINCIPAL COMMISSIONER OF INCOME TAX, UDAIPUR, RAJASTHAN

In the result, the appeal of the assessee is allowed

Bench: HON’BLE SHRI SANDEEP GOSAIN, JM & HON’BLE SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

2,21,70,780/- as proportionate indirect expenses against the exempt income of Rs 62,529/-. The ld PCIT has not proved that the indirect expenditure sought to be disallowed had actually been incurred in earning the exempted income. Reliance is placed on the following decisions:- (i) Hon’ble Supreme Court of India in Maxopp Investment Limited V. Commissioner