M/S ANGEL INFRASTRUCTURE (P) LTD.,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, JAIPUR

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

disallowed the claim of set off of short term capital loss and also made disallowance of transfer expenses. Thus, the total

CENTRAL CIRCLE-1, JAIPUR vs. LATE SHRI SATISH KUMAR AGARWAL, L/H SMT. SANTOSH AGARWAL, JAIPUR

In the result, appeal of the Revenue is partly allowed for statistical purposes

set off of current year business loss of Rs 767,768 against the undisclosed investment of Rs 36,00,000 towards purchase of plot of land which has been surrendered during the course of search, and subsequently offered and brought to tax under section 69 read with section 115BBE of the Act. In the result, sole ground taken

BITTHAL DAS PARWAL,JAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3 , JAIPUR

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

Bench: Him. 2. In This Appeal, The Assessee Has Raised The Following Grounds: -

disallowances of set off losses was not challenged by the assessee before the Ld. CIT(A), therefore, the same stands

SHRI RAJESH CHACHWANI,JAIPUR vs. INCOME TAX OFFICER, WARD-6-4, JAIPUR

In the result, the appeal of the assessee is dismissed

loss declared in the return of income, except the computation of income filed by the assessee. Further, the reassessment proceedings are not for the benefit of the assessee to make a new claim which is not made in the original return of income under section 139(1) of the Act. The Hon’ble Supreme Court in case

ADITYA CEMENT,BEHROR vs. ITO, BEHROR

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

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

disallowance of carry forward loss, which are discussed and decided as below:- 3.1 The relevant part of the rectification order is as under- “The reply of the assessee has been considered but not found acceptable on the issue of set

RSD CONTAINERS PRIVATE LIMITED,JAIPUR vs. ITO, WARD 7(1), JAIPUR, JAIPUR

In the result, the appeal of the assessee is allowed

losses including unabsorbed depreciation, which includes MAT credit also against undisclosed income u/s. 68 of the Act in foregoing paragraph 10 of this order, the ground no. 7 raised by the appellant is dismissed. 11 RSD Containers Pvt Ltd. vs ITO 12. In the result, the assessment order is upheld, and the appeal is dismissed.” 5. Aggrieved with the finding

M/S NAVJEEVAN TRADE & COMMODITIES P.LTD,JAIPUR vs. INCOME TAX OFFICER, WARD-4-2, JAIPUR

In the result the same are treated as infructuous

loss will not be set off against income assessed u/s 115BBE even though relevant provisions disallowing set off has come

NEERU MOHAN NAGPAL,JAIPUR vs. INCOME TAX OFFICER, ITO WARD 2(3)

In the result, the appeal of the assessee is allowed

disallowed the claim saying that it is a forfeiture of amount by the seller on account of non compliance of agreement, resulting thereby the assessee is not entitled for set off the capital loss

RIDHIRAJ BUILDERS,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-6, NCRB, 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)

disallowed the same while passing the Assessment order. Thus, such loss ought to have been set off against the surrendered

RADHEY SHYAM AGARWAL,JAIPUR vs. ITO, WARD 7(1), JAIPUR, JAIPUR

In the result, both the appeals of the assessee are allowed

disallowing claim of the appellant for set off of the carried forward loss of specified business (u/s 35AD) of Rs. 16,95,003 for the AY 2013-14 out of income

RUKMANI DEVI AGARWAL,JAIPUR vs. ITO, WARD 7(1), JAIPUR, JAIPUR

In the result, both the appeals of the assessee are allowed

disallowing claim of the appellant for set off of the carried forward loss of specified business (u/s 35AD) of Rs. 16,95,003 for the AY 2013-14 out of income

DCIT, CIRCLE-2, JAIPUR vs. M/S PYRAMID TRADELINKS PVT. LTD., JAIPUR

In the result, the appeal of the Revenue is dismissed

loss of Rs. 6,18,87,338/- including brokerage arranged by the assessee through Motisons Commodities Pvt. Ltd. is liable to be disallowed. The entire transactions entered into by the assessee are speculative in nature however these have not been set

RADHEY SHYAM AGARWAL (DECEASED) THROUGH LEGAL HEIR,JAIPUR vs. ITO, WARD 7(1), , JAIPUR

In the result, the appeal of the assessee is allowed

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

set off the loss of AY 2013-14. The Assessing Officer disallowed the setting off of the loss of AY 2013-14 with

M/S RAMAVTAR KRISHANAVTAR,KOTA vs. INCOME TAX OFFICER, KOTA

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

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

loss of Rs. 39,88,783/- is not allowed to be set off against the business of trading of physical commodities and is hereby disallowed

M/S BARODA RAJASTHAN KSHETRIYA GRAMIN BANK , AJMER vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1, AJMER

In the result, the appeal of the Revenue is dismissed

Bench: The Hon’Ble High Court, Jaipur To Recall/Review Its Order Dated 24.04.2018 Disposing Off The Appeal Of The Revenue Without Going Into The Merits.”

loss of Rs. 7,000/- is hereby confirmed.” Thus, it is clear that the penalty levied by the AO in respect of provision for standard asset has been deleted by the CIT(A) because the addition itself was deleted by this Tribunal in the quantum appeal. The ld. AR has filed a copy of the order of this Tribunal dated

SHRI NARESH JAIN,JAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-3, JAIPUR

In the result, the appeal of the assessee is allowed

set off the long term capital loss suffered from shares from the long term capital gain from sale of commercial property and after intra-head adjustment the AO computed net long term capital gain at Rs. 88,24,461/- and from this amount he allowed deduction U/s 54F and disallowed

ANUSHA FINVEST PVT LTD ,JAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE 1, JAIPUR

In the result, the appeal of the assessee is allowed

Bench: SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member), SHRI NARINDER KUMAR (Judicial Member)

set off against their profits with a view to reduce their tax liability. As per information received by the Assessing Officer, the assessee was one of the beneficiaries of the Client Code Modification as the name of the assessee also appeared in the beneficiaries list who had taken fictitious F&O Losses through the broker Inventure Growth & Securities Ltd. (hereinafter

GLOBAL INSTITUTE OF TECHNOLOGY SOCIETY,JAIPUR vs. DCIT-CIRCLE-EXEMPTION, JAIPUR

In the result the appeal of the revenue in ITA no

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

set off of losses has not been dealt with in the assessment order and is a matter of computation of income. The same is acceptable as per the act. Issue 6:- Issue related to Exemption u/s 11&12 The AO has denied the benefit of Exemption u/s 11 & 12 of the Act on basis of certain additions and disallowances