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

disallowance out of interest paid on borrowed funds to Rs. 22,45,000/- as against that of Rs. 55,92,19,845/- made by AO since the decision of ld. CIT (A) is not in conformity with the ratio laid down by the Hon’ble Punjab & Haryana High Court in the case of CIT vs. Abhishek Industries

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2, JAIPUR vs. ZUBERI ENGINEERING COMPANY, JAIPUR

In the result, all the three appeals of the assessee are partly allowed and that of revenue’s cross appeal is dismissed

disallowance made U/s 40(a)(ia) of the Act is deleted. 16.1 As regards the disallowance sustained by the ld. CIT(A), we find merits in the alternative plea of the ld AR that the amendment brought into the provisions of Section 40(a)(ia) of the Act by the Finance Act, 2015 has been held as remedial in nature

ZUBERI ENGINEERING COMPANY,JAIPUR vs. DCIT, JAIPUR

In the result, all the three appeals of the assessee are partly allowed and that of revenue’s cross appeal is dismissed

disallowance made U/s 40(a)(ia) of the Act is deleted. 16.1 As regards the disallowance sustained by the ld. CIT(A), we find merits in the alternative plea of the ld AR that the amendment brought into the provisions of Section 40(a)(ia) of the Act by the Finance Act, 2015 has been held as remedial in nature

ZUBERI ENGINEERING COMPANY,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-2, JAIPUR

In the result, all the three appeals of the assessee are partly allowed and that of revenue’s cross appeal is dismissed

disallowance made U/s 40(a)(ia) of the Act is deleted. 16.1 As regards the disallowance sustained by the ld. CIT(A), we find merits in the alternative plea of the ld AR that the amendment brought into the provisions of Section 40(a)(ia) of the Act by the Finance Act, 2015 has been held as remedial in nature

ZUBERI ENGINEERING COMPANY,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-2, JAIPUR

In the result, all the three appeals of the assessee are partly allowed and that of revenue’s cross appeal is dismissed

disallowance made U/s 40(a)(ia) of the Act is deleted. 16.1 As regards the disallowance sustained by the ld. CIT(A), we find merits in the alternative plea of the ld AR that the amendment brought into the provisions of Section 40(a)(ia) of the Act by the Finance Act, 2015 has been held as remedial in nature

M/S DANISH PVT. LTD.,JAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-6, JAIPUR

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

65,853/- to Central Power Research Institute (CPRI) as testing fee on which TDS was required to be made under section 194C of the IT Act. However, the assessee has not deducted TDS in respect of the said payment. Accordingly, as per the provisions of section 40(a)(ia) of the Act, the same was disallowed

RADHAKISHNA BENIWAL,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 1, JAIPUR, JAIPUR

In the result, the appeal filed by the assessee in ITA no

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

disallowed Rs 2,65,36,577 as unexplained expenses under section 37 of the Act by assuming project expense of Rs 26,53,65

RADHAKISHAN BENIWAL,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 1, JAIPUR, JAIPUR

In the result, the appeal filed by the assessee in ITA no

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

disallowed Rs 2,65,36,577 as unexplained expenses under section 37 of the Act by assuming project expense of Rs 26,53,65

KGK DIAMONDS (I) LTD.,MUMBAI vs. DCIT, JAIPUR

In the result, the disallowance under section 14A is hereby deleted

section 14A is hereby deleted. The grounds no. 1 and 2 of assessee’s appeal are thus allowed. 11. Regarding ground No. 2, the ld. CIT(A) has confirmed the disallowance of Rs. 65

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)

65,426 Nil Nil Thus after the order of ITAT dt.10.04.2018 (PB 25-94), following disallowance made by the AO stood confirmed:- Disallowance of CSR Expenses Rs.40,42,000/- Disallowance u/s 14A Rs.37,19,337/- After the order of Hon’ble ITAT, AO again issued notice dt.14.03.2019 (PB 17) to show cause why penalty

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)

Disallowance under Section 14A is not attracting in the case of assessee. 2.7 The Utilisation of fresh borrowings is as below:- Funds Utilisation of Funds utilised to Funds borrowed Funds generate exempt borrowed (Rs in Lacs) income or from taxable Income 2500 Lacs Rs.1400 Lacs Taxable income IndusInd paid inYes Bank Bank Ltd OD Ledger A/c Account

MAYUR UNIQUOTERS LIMITED,JAIPUR vs. COMMISSIONER OF INCOME TAX NFAC, NEW DELHI

Appeals of the assesse are disposed of in the terms indicated as above

Section 143(1) of the Act. Reliance in this regard is placed on the decision of jurisdictional Tribunal in case of MurlidharHassani vs. DCIT [ITA No. 139/JP/2021] and Hon’ble Hyderabad Tribunal Crescent Roadways Private Limited vs. DCIT [ITA No. 1952/HYD/2018 at page no. 63 to 65 of PB. Further, reliance is placed on Hon’ble Delhi ITAT

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

section 14A will\nalso apply on the shares held as stock in trade. Thus simply because disallowance\nis confirmed in appeal does not mean that the assesse has concealed the particulars\nof income. All the facts relating to the investment in shares and exempt income\nearned therefrom are duly shown in the financial statement which was not found\nincorrect

DUSHYANT KUMAR TYAGI,G1-1103 R.I.A. vs. DCIT CPC BENGALURU, BHIWADI

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

disallowing due to non-deduction of TDS on interest paid u/s 40(a)(ia) of the I.T. Act, 1961. Even otherwise, the claim of the assessee is allowable u/s 37(1) read with section second proviso to Section 40(a)(ia) further read with first proviso to section 201(1) of I.T. Act, 1961 inserted by Finance Act, 2012 w.e.f

AJEET SINGH,JAIPUR vs. ITO WD 6(1), JAIPUR

In the result, the appeal of the assessees is allowed

section 139(1) of the Act. When the matter was taken to the Ld. CIT(A) the said disallowance was sustained. 4. Being aggrieved by the impugned order issued U/s 143(1) of the IT Act, the assessee is preferred an appeal before the ld. CIT(A). The assessee filed complete details of the entire payments i.e. employee

SANJIV PRAKASHAN,JAIPUR vs. ACIT, CIRCLE-1, JAIPUR

65-66 8 Principal Commissioner of Income-tax v. SPPL Property Management (P.) Ltd [2023] 151 taxmann.com 103 (Calcutta HC) Original order in this case was passed u/s 143(3) - PCIT in order u/s 263 made disallowance for PF/ESI. Held: order of AO not prejudicial to the interest of revenue 67-68 9 Changanacherry Co- op. Agrl & Rural Development Bank

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-3, JAIPUR vs. SHRI KAPIL TANEJA, JAIPUR

In the result, appeal of the revenue is dismissed

65,002/-. The AO invoked the provisions of section 14A read with Rule 8D(ii) & (iii) and made the disallowance

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)

section 2(24)(x) of the Income Tax Act, 1961 the above sum is liable to be disallowed and added back to the total income of the assessee. This will result in an addition of Rs. 2,65