M/S MORANI CARS PVT. LTD.,JAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, WARD-6, JAIPUR

In the result the appeal of the assessee is partly allowed

Section 36(1) specifically disallows the interest payment on borrowed funds taken to purchase fixed assets upto the period before put to use. Since no funds were borrowed and no interest was paid the disallowance is illegal and to be quashed. Your honour, here I want to place the decision of Hon`ble high court of Rajasthan in case

PRAKASH CHAND VARINDANI,JAIPUR vs. ACIT CERTAL CIRLCE-3, JAIPUR

In the result, the appeal of the assessee is allowed

disallowance u/s.\n40A(3) the revenue observed clear violation of section 40A (3) of the Act\nand therefore, the addition is required to be sustained.\n12. We have heard the rival contentions, perused the orders of the lower\nauthority and material placed on record. The bench noted that the assessee\nis engaged in the wholesale and retail business

NEERAJ SUWALKA,JAIPUR vs. DCIT, JAIPUR

In the result, the appeal of the assessee is dismissed

disallowance, such purpose has to be kept in mind and provisions of the Act cannot be applied straightway, as it may result in undue hardship to assessees. Similar is the case of section 40A(3), the intention of the Legislature in enacting section 40A(3) particularly was to ensure that payments exceeding the sum specified are made by a crossed

NEERAJ SUWALKA,JAIPUR vs. DCIT, JAIPUR

In the result, the appeal of the assessee is dismissed

disallowance, such purpose has to be kept in mind and provisions of the Act cannot be applied straightway, as it may result in undue hardship to assessees. Similar is the case of section 40A(3), the intention of the Legislature in enacting section 40A(3) particularly was to ensure that payments exceeding the sum specified are made by a crossed

NEERAJ SUWALKA,JAIPUR vs. DCIT, JAIPUR

In the result, the appeal of the assessee is dismissed

disallowance, such purpose has to be kept in mind and provisions of the Act cannot be applied straightway, as it may result in undue hardship to assessees. Similar is the case of section 40A(3), the intention of the Legislature in enacting section 40A(3) particularly was to ensure that payments exceeding the sum specified are made by a crossed

DHANRAJ SETHIA,JAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX , CIRCLE-1

In the result, the appeal filed by the assessee is allowed

Bench: Hon’ble SHRI SANDEEP GOSAIN (Judicial Member)

disallowance. Aggrieved thereby, assessee is in appeal. In the facts of the case, it is clear that asssessee was fully aware that the claims of deduction made were inadmissible because he has not deducted TDS on the payments. Despite that he took a chance because had the case not selected for scrutiny, he would have reduced tax liability. It cannot

JAGAT SINGH RATHORE,TONK vs. ITO WD 7(2), , JAIPUR

In the result, the appeal of the assessee is allowed for statistical purposes

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

disallowance so made and confirmed by the ld. CIT(A) is totally contrary to the provisions of law and facts on the record and hence the same kindly be deleted in full. 3. The AO erred in law as well as on the facts of the case in charging interest u/s 234A & 234B of the Act. The appellant totally denies

MORANI MOTORAS PRIVATE LIMITED,JAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, JAIPUR

In the result the ground no

disallowances made by the Assessing officer which have been sustained by the ld CIT(A). The assessee has filed an appeal before us. In the assessment proceeding the ld. AO noted that the assessee has received share application money from various persons in cash details of which is as under:- S. Name No. of Issue Fresh Share Cheque Cash