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

ASSOCIATED SOAPSTONE DISTRIBUTING CO PRIVATE LIMITED,JAIPUR vs. PRINCIPAL COMMISSIONER OF INCOME TAX -2, JAIPUR, JAIPUR

disallowed said claim on ground that interest paid under section\n201(1A) would be penal in nature - Whether since tax was deducted by\nassessee on behalf of third party, interest charged on failure to remit\nsame within due date to government would be compensatory in nature\nand interest paid on delayed payment of TDS under section 201(1A)\nwas

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

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

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

RASHLEELA ENTERPRISES PRIVATE LIMITED,JAIPUR vs. THE PCIT (CENTRAL), JAIPUR

In the result, the appeal of the assessee is allowed

disallowance can be made as per the provision of\nRule 8D of the IT Rules 1962.\n3. That the appellant craves the right to add, delete, amend or\nabandon any of grounds of appeal either before or at the time of\nhearing of appeal.\"\n3.\nThe brief facts as culled out from the records are that Search\n& Seizure action

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

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

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

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

BIMAL ROY SONI,J L N MARG vs. DCIT, CIRCLE - 1, JAIPUR, STATUE CIRCLE

In the result, appeals of the assessee is partly allowed

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;dj vihy la-@ITA. Nos. 239 & 240/JP/2022 fu/kZkj.k o"kZ@Assessment Years : 2013-14 & 2014-15 Bimal Roy Soni 11, Chetak Marg, JLN Marg Jaipur cuke Vs. DCIT, Circle-01, Jaipur NCR, Building LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: AFPPS 1588 H vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@ Assessee by : Shri Akhilesh Kumar Jain (C.A.) jktLo dh vksj ls@ Revenue by : Smt Runi Pal (Addl. CIT) a lquokb

section 14A. 5. Thus interest to be disallowed should be with reference to amount of investment made out of borrowed funds, which comes to Rs.4,12,63,005/= ( Rs.67312353/= minus Rs.26049348/=) and the amount of interest attributable to this amount by applying average rate of interest of 12.89% (Please refer to PB-7) comes to Rs.53,18,801/=. Thus your

BIMAL ROY SONI,J L N MARG vs. DCIT, CIRCLE-1, JAIPUR, N.C.R. BUILDING

In the result, appeals of the assessee is partly allowed

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;dj vihy la-@ITA. Nos. 239 & 240/JP/2022 fu/kZkj.k o"kZ@Assessment Years : 2013-14 & 2014-15 Bimal Roy Soni 11, Chetak Marg, JLN Marg Jaipur cuke Vs. DCIT, Circle-01, Jaipur NCR, Building LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: AFPPS 1588 H vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@ Assessee by : Shri Akhilesh Kumar Jain (C.A.) jktLo dh vksj ls@ Revenue by : Smt Runi Pal (Addl. CIT) a lquokb

section 14A. 5. Thus interest to be disallowed should be with reference to amount of investment made out of borrowed funds, which comes to Rs.4,12,63,005/= ( Rs.67312353/= minus Rs.26049348/=) and the amount of interest attributable to this amount by applying average rate of interest of 12.89% (Please refer to PB-7) comes to Rs.53,18,801/=. Thus your

PROFESSIONAL AUTOMOTIVES PRIVATE LIMITED,JAMMU vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRE CIRCLE -1, JAIPUR

disallowance of Rs.3,91,87,577/- made by\nld.AO out of Repairs & Maintenance expenses, arbitrarily.\n5.1 That, ld.CIT(A) has further erred in confirming the disallowance of\nRs.3,91,87,577/- made by ld.AOout of Repairs & Maintenance solely by\nmisinterpreting statements of accountant Sh. Manish Mor and director Sh. O P\nGupta recorded during the course of search, wherein

SHANKAR LAL LUDHANI THROUGH LATA DEVI LUDHANI AS LEGAL HEIR,AJMER vs. DCIT, CENTRAL CIRCLE, AJMER, AJMER

In the result, the appeal of the assessee is allowed

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

65. section 69A, section 698, section 690 or section 690 to the extent such income has been included by the assessee in the return of income furnished under section 139 and the tax in accordance with the provisions of clause (i) of sub section (1) of section 11588E has been paid on or before the end of the relevant previous