DCIT, CENTRAL CIRCLE-2, JAIPUR, CENTRAL CIRCLE-2 JAIPUR vs. SHRI PRAKASH CHAND SHARMA, C-42, GOKUL PATH VAISHALI NAGAR, JAIPUR, JAIPUR

In the result, appeals of the revenue are dismissed

Bench: Ao On The Charge Of Concealment Of Income.

disallowance of expenditure was set aside to the record of the AO for fresh adjudication. In the meantime, the AO initiated the proceedings for levy of penalty under section 271

DCIT, CENTRAL CIRCLE-2, JAIPUR, CENTRAL CIRCLE-2 JAIPUR vs. SHRI PRAKASH CHAND SHARMA, C-42, GOKUL PATH VAISHALI NAGAR, JAIPUR, JAIPUR

In the result, appeals of the revenue are dismissed

Bench: Ao On The Charge Of Concealment Of Income.

disallowance of expenditure was set aside to the record of the AO for fresh adjudication. In the meantime, the AO initiated the proceedings for levy of penalty under section 271

DCIT, CENTRAL CIRCLE-2, JAIPUR, CENTRAL CIRCLE-2 JAIPUR vs. SHRI PRAKASH CHAND SHARMA, C-42, GOKUL PATH VAISHALI NAGAR, JAIPUR, JAIPUR

In the result, appeals of the revenue are dismissed

Bench: Ao On The Charge Of Concealment Of Income.

disallowance of expenditure was set aside to the record of the AO for fresh adjudication. In the meantime, the AO initiated the proceedings for levy of penalty under section 271

ASSISTANT COMMISSIONER OF INCOME-TAX, JAIPUR vs. ROYAL JEWELLERS, JAIPUR

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

section\n271(1)(c) in respect of aforesaid two issues - As regards amount received by\nassessee as advance, Tribunal found that since said amount had been shown in\nbalance sheet annexed to original return, there was no intention on part of\nassessee to conceal - With regard to disallowance qua TDS on account of non-\ndeposit of same with Government, Tribunal

VAIBHAV GLOBAL LIMITED,JAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-5, JAIPUR

In the result, the penalty is directed to be deleted and appeal of the assessee is allowed

disallowance as to whether it is a case of concealment or furnishing of inaccurate particulars. It is obviously an absurd proposition and goes against the unambiguous language of the provision. Thus, it is overt that after insertion of sub-section (1B) to section 271

VAIBHAV GLOBAL LIMITED,JAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-5, JAIPUR

In the result, the penalty is directed to be deleted and appeal of the assessee is allowed

disallowance as to whether it is a case of concealment or furnishing of inaccurate particulars. It is obviously an absurd proposition and goes against the unambiguous language of the provision. Thus, it is overt that after insertion of sub-section (1B) to section 271

M/S RAJASTHAN STATE INDUSTRIAL DEVELOPMENT AND INVESTMENT CORPORATION LTD.,JAIPUR vs. DCIT, CIRCLE-6, JAIPUR, JAIPUR

In the result, both the appeals of the assessee are allowed as indicated hereinabove

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI GAGAN GOYAL (Accountant Member)

disallowed by the AO which has reached finality in computing the total income of the assessee shall, for the purpose of clause (c) of this sub-section (1) of section 271

NARAYAN HEIGHTS & TOWERS,JAIPUR vs. ITO, JAIPUR

In the result, the appeal of the assessee is allowed

Bench: The Hearing Of Appeal.”

Section 271 has been considered by the Hon'ble Delhi High Court in the case of Madhu Shree Gupta vs. UOl, 317 ITR 107 wherein it has been held that at the stage of initiation of penalty proceedings, the order passed by the Assessing Officer need not reflect satisfaction vis a vis each and every item of addition or disallowance

KANHAIYALAL RAMESHWAR DAS,KOTA vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3, JAIPUR

disallowance of unabsorbed depreciation.\nThe assessee filed the appeal before the Id. CIT(A)-4, Jaipur which\nwas disposed off vide order 04-04-2018 by the Id. CIT(A). After giving the\neffect of the above order, the assessed income was reduced to\nRs.1,05,94,050/- which was as declared in the revised return of income\nfiled

M/S RAJASTHAN STATE INDUSTRIAL DEVELOPMENT & INVESTMENT CORPORATION LTD.,JAIPUR vs. DCIT, CIRCLE-6, JAIPUR, JAIPUR

In the result, both the appeals of the assessee are allowed as indicated\nhereinabove

disallowed by the AO which has reached\nfinality in computing the total income of the assessee shall, for the purpose of\nclause (c) of this sub-section (1) of section 271

VISION JEWELLERS,JAIPUR vs. DCIT, CIRCLE-1, JAIPUR, JAIPUR

In the result the appeal of the assessee is allowed

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

disallow said payments under section 40A(3), assessee offered that its income might be computed by applying net profit rate of 8 per cent of gross receipts - Assessing Officer having accepted 8 VISION JEWELLERS VS DCIT CIRCLE-1, JAIPUR assessee's offer, made addition in terms of section 44AD - He also passed a penalty order under section 271

SUPERFINE HOTELS PRIVATE LIMITED,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-6,, JAIPUR

In the result, appeal of the assessee is partly allowed

disallowance of deduction claimed by the\nassessee under section 35AD of the IT Act, 1961. The AO also initiated\npenalty proceedings under section 271

ZAKI AHMED FAROOQUI,JAIPUR vs. DCIT, JAIPUR

In the result, appeals of the assessee are partly allowed

Bench: Or At The Time Of Hearing.

section 271(1)(c) is contrary to Shri Zakki Ahmed Farooqui, Jaipur. the facts as it is not the case of suppression of particulars of income but the additions were made by the AO by disallowing

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)

271(1)© : Concealed particulars of income or furnished inaccurate particulars of income. 271A : Failed to keep, maintain, or retain books of accounts, documents etc. as required u/s 44AA. 271B : Failed to get the accounts audited or obtain audit report as required under section 44AB or furnish such report alongwith return under section 139(1) or in response to notice under

M/S N N JEWELLERS,JAIPUR vs. INCOME TAX OFFICER, WARD-2-1, JAIPUR

In the result, all the appeals filed by the assessee are allowed in

section 271(1)(c) of the Act. In our considered view, the assessing officer was not justified in imposing the penalty on this basis, the action of the assessing officer is contrary to the provision of law.” Further the Hon’ble Rajasthan High Court in the case of Pr. CIT of Wealth Tax-1 vs Narayana Heights and Towers

M/S N N JEWELLERS,JAIPUR vs. INCOME TAX OFFICER, WARD-2-1, JAIPUR

In the result, all the appeals filed by the assessee are allowed in

section 271(1)(c) of the Act. In our considered view, the assessing officer was not justified in imposing the penalty on this basis, the action of the assessing officer is contrary to the provision of law.” Further the Hon’ble Rajasthan High Court in the case of Pr. CIT of Wealth Tax-1 vs Narayana Heights and Towers

M/S SHIV KUMAR SUSHIL KUMAR TEA ENTERPRISES PVT. LTD.,KOTA vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1, KOTA

In the result, appeal of the assessee is allowed

disallowance has been made and upheld in appeal, does not justify the imposition of penalty under section 271(1)(c) of the Act. In Laxmi

VIJAY KEDIA (HUF),JAIPUR vs. ACIT, JAIPUR

In the result, this appeal of the assessee is allowed

Bench: Shri Sandeep Gosain, Jm & Shri Vikram Singh Yadav, Am Vk;Dj Vihy La-@Ita No. 1266/Jp/2019 Fu/Kzkj.K O"Kz@Assessment Year :2008-09 M/S Vijay Kedia, Cuke A.C.I.T., 1307, Gopal Ji Ka Rasta, Johari Vs. Central Circle-1, Bazar, Jaipur. Jaipur. Lfkk;H Ys[Kk La-@Thvkbzvkj La-@Pan/Gir No.: Aabhv 6449 M Vihykfkhz@Appellant Izr;Fkhz@Respondent Fu/Kzkfjrh Dh Vksj Ls@ Assessee By : Shri S.R. Sharma (Ca)& Shri R.K. Bhatra (Ca) Jktlo Dh Vksj Ls@ Revenue By : Shri A.S. Nehra (Addl.Cit) Lquokbz Dh Rkjh[K@ Date Of Hearing : 19/07/2021 Mn?Kks"K.Kk Dh Rkjh[K@ Date Of Pronouncement : 30/07/2021 Vkns'K@ Order Per: Sandeep Gosain, J.M. This Is An Appeal Filed By The Assessee Against The Order Of Ld. Cit(A)- 1, Jaipur Dated 02/09/2019 For The A.Y. 2008-09, Wherein Following Grounds Have Been Taken. “1. That On The Facts & In The Circumstances Of The Case, The Ld. Cit(A) Is Wrong, Unjust & Has Erred In Law In Not Accepting Plea Of The Appellant That The Notice Issued By The Assessing Officer U/S 271(1)(C) Of The I.T. Act, 1961 Is Wrong & Bad In Law Inasmuch As It Did Not Specify In Which Limb Of Sec. 271(1)(C) Of The Income Tax Act, 1961 The Penalty Proceedings Has Been Initiated I.E. Whether For Concealment Of Income Or Furnishing Of Inaccurate Particulars Of Income.

disallowance out of the purchases held unverifiable in the case for this year. Thus the addition is estimated and unsubstantiated addition which do not fall within the purview of Section 271