JAGDISH KUMAR ARORA,BHAWANIMANDI vs. DCIT, CENTRAL CIRCLE- KOTA, KOTA

In the result, the appeal of the assessee is allowed

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

money, bullion, etc., and unexplained expenditure as deemed income where the nature and source of investment, acquisition or expenditure, as the case may be, have not been explained or satisfactorily explained. Therefore, in these cases, the source not being known, such deemed income will not fall even under 17 Jagdish Kumar Arora the head, 'Income from other sources'. Therefore

SHRI AMBICA GARMENTS, JODHPUR,JODHPUR vs. ACIT, CENTRAL CIRCLE-3, JAIPUR, JAIPUR

In the result, all appeals of the assessee are disposed off in terms of

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

money, bullion, jewellery or other valuable article or thing belong or belongs to such person; (ii) that the contents of such books of account and other documents are true; and that the signature and every other part of such books of account and other documents which purport to be in the handwriting of any particular person or which may reasonably

SHRI AMBICA GARMENTS, JODHPUR,JODHPUR vs. ACIT, CENTAL CIRCLE-3, JAIPUR, JAIPUR

In the result, all appeals of the assessee are disposed off in terms of

money, bullion, jewellery or other valuable article or thing belong or belongs to such person; (ii) that the contents of such books of account and other documents are true; and that the signature and every other part of such books of account and other documents which purport to be in the handwriting of any particular person or which may reasonably

SHRI AMBICA GARMENTS, JODHPUR,JODHPUR vs. ACIT, CENTAL CIRCLE-3, JAIPUR, JODHPUR

In the result, all appeals of the assessee are disposed off in terms of

money, bullion, jewellery or other valuable article or thing belong or belongs to such person; (ii) that the contents of such books of account and other documents are true; and that the signature and every other part of such books of account and other documents which purport to be in the handwriting of any particular person or which may reasonably

SANJAY KUMAR KARNANI,JAIPUR vs. ACIT, CENTRAL CIRCLE-3, JAIPUR, JAIPUR

In the result, all appeals of the assessee are disposed off in terms of

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

money, bullion, jewellery or other valuable article or thing belong or belongs to such person; (ii) that the contents of such books of account and other documents are true; and that the signature and every other part of such books of account and other documents which purport to be in the handwriting of any particular person or which may reasonably

SANJAY KUMAR KARNANI,JAIPUR vs. ACIT, CENTRAL CIRCLE-3, JAIPUR, JAIPUR

In the result, all appeals of the assessee are disposed off in terms of

Bench: AO on 12-04-2021 18. Reply filed before AO on 15-07-2021 19. Additional Written Submissions filed before CIT(A) for AY 2014-15 on 11-11-2024 20. Written Submissions filed before CIT(A) for AY 2014-15 21. Written Submissions filed before CIT(A) for AY 2015-16 on 10-10-2024 22. Written Submissions filed before CIT(A) for AY 2016-17 on 10-10-2024 23. Written Submissions filed before CIT(A) for AY 2017-18 on 15-10-2024 24. Written Submissions filed before CIT(A) for AY 2018-19 on 15-10-2024 25.

money, bullion, jewellery or other valuable article or thing belong or belongs to such person; (ii) that the contents of such books of account and other documents are true; and that the signature and every other part of such books of account and other documents which purport to be in the handwriting of any particular person or which may reasonably

SH. MUKUT BEHARI AGARWAL,JAIPUR vs. THE DCIT, CIRCLE 1, JAIPUR

In the result, the appeals of the assessee is allowed as indicated hereinabove

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

Unexplained money, arbitrarily. 3.1. That, ld. CIT(A) has further erred in confirming the addition of Rs.74,51,800/- made by ld. AO on the basis of some ledger copy alleged to have been found during the course of search conducted in some other case namely Veto Group. Appellant prays that assessee is not associated with Veto Group

SANJAY LUNIA,AJMER vs. ITO WD-2(1), AJMER

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

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

unexplained money therefore, the AO is fully justified in making/confirming the disallowance in the amount of Rs. 16,52,000 /-, found

ACIT, CENTRAL CIRCLE-2, JAIPUR, JAIPUR vs. CHANDRA MOHAN BADAYA, JAIPUR

In the result the four appeals filed by the assessee stands

Bench: Him In The Case Of The Assessee For All These Four Assessment Year.

disallowing peak credit theory by netting transaction in search record for cash loan taken and cash loan given and uphold the addition by own presumption method termed as incremental negative peak Rs 591812 and account of unexplained loan given u/s 69 Rs 2,76,00,000 without considering all facts in seized documents. 2.1 The Id CIT Appeal further erred

ACIT, CENTRAL CIRCLE-2, JAIPUR, JAIPUR vs. CHANDRA MOHAN BADAYA, JAIPUR

In the result the four appeals filed by the assessee stands

Bench: Him In The Case Of The Assessee For All These Four Assessment Year.

disallowing peak credit theory by netting transaction in search record for cash loan taken and cash loan given and uphold the addition by own presumption method termed as incremental negative peak Rs 591812 and account of unexplained loan given u/s 69 Rs 2,76,00,000 without considering all facts in seized documents. 2.1 The Id CIT Appeal further erred

CHANDRA MOHAN BADAYA,JAIPUR vs. DCIT, CENTRAL CIRCLE-2, JAIPUR

In the result the four appeals filed by the assessee stands

Bench: Him In The Case Of The Assessee For All These Four Assessment Year.

disallowing peak credit theory by netting transaction in search record for cash loan taken and cash loan given and uphold the addition by own presumption method termed as incremental negative peak Rs 591812 and account of unexplained loan given u/s 69 Rs 2,76,00,000 without considering all facts in seized documents. 2.1 The Id CIT Appeal further erred

ACIT, CENTRAL CIRCLE-2, JAIPUR, JAIPUR vs. CHANDRA MOHAN BADAYA, JAIPUR

In the result the four appeals filed by the assessee stands

Bench: Him In The Case Of The Assessee For All These Four Assessment Year.

disallowing peak credit theory by netting transaction in search record for cash loan taken and cash loan given and uphold the addition by own presumption method termed as incremental negative peak Rs 591812 and account of unexplained loan given u/s 69 Rs 2,76,00,000 without considering all facts in seized documents. 2.1 The Id CIT Appeal further erred

ACIT, CC-2, JAIPUR, INCOME TAX DEPARTMENT vs. CHANDRA MOHAN BADAYA, JAIPUR

In the result the four appeals filed by the assessee stands

Bench: Him In The Case Of The Assessee For All These Four Assessment Year.

disallowing peak credit theory by netting transaction in search record for cash loan taken and cash loan given and uphold the addition by own presumption method termed as incremental negative peak Rs 591812 and account of unexplained loan given u/s 69 Rs 2,76,00,000 without considering all facts in seized documents. 2.1 The Id CIT Appeal further erred

KATH BROTHERS,JAIPUR vs. ACIT, CENTRAL CIRCLE-3, JAIPUR, JAIPUR

In the result, the appeal of the assessee is allowed

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

unexplained credit in the books of account, any unexplained investment, any unexplained money, bullion or jewellery, any unexplained expenditure or any amount of loan repaid in the assessment order in this respect. Therefore, the provisions of Section 68, 69, 69A, 69B, 69C and 69D are not attracted on the surrendered amount of Rs. 15 lacs. The said amount

AAS MOHAMMAD ,TIZARA vs. INCOME TAX OFFICER,, WARD-BHIWADI

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

unexplained money u/s 69A of the Act. In this view of the matter, the decision of the AO is upheld. Consequently, the Ground of appellant is dismissed. 6.10 Before parting, it is trite that the appellate authority is essentially called upon to balance the two sides of an argument 5 ITA NO. 1102/JPR/2024 SHRI AAS MOHAMMAD VS ITO, WARD- BHIWADI

SH. TAIYAB KHAN,JAIPUR vs. THE ASSTT. COMMISSIONER OF INCOME TAX, ALWAR

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

disallow 5% of such expenses and made an addition of Rs. 6,78,666 in this regard. As addition on account of unexplained cash credits / unexplained money

GAYTRI DEVI SHARMA,CHOMU vs. ITO WARD 7(3), JAIPUR

In the result, the appeal of the assessee is allowed

Bench: Him.

money is not in the nature of income and therefore cannot be subjected to tax. It is pertinent to note that at the time of demonetization, this aspect came to be also logically accepted by the Income-tax Department, which is duly supported by the issuance of the CBDT Circular clarifying that cash deposit of demonetized currency notes

SILVER WINGS LIFE SPACES,KOTA vs. DCIT CIRCLE-1 KOTA, KOTA

In the result, the appeal of the assessee is allowed

Bench: Learned Cit(A), Which Appeal Was Filed By The Assessee

money, bullion or jewellery, any unexplained expenditure or any amount of loan repaid in the assessment order in this respect. Therefore, the provisions of Section 68, 69, 69A, 69B, 69C and 69D are not attracted on the surrendered amount of Rs. 15 lacs. The said amount of Rs. 15 lacs was offered in case any discrepancy is found

INCOME TAX OFFICER, JAIPUR vs. KEDIA BUILDERS AND COLONIZERS PRIVATE LIMITED, JAIPUR

In the result, all appeals of the revenue are stands dismissed

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

unexplained. It is further noticed that the company M/s Orchid Trexim Pvt Ltd is enlisted as shell company in the databank available with the Investigation Wing, Kolkata. In this regard, Mr. Prem kumar Agarwal & Mr. Amit Agarwal, Director of M/s Orchid Trexim Pvt Ltd has given declaration on 29.03.2014 before the DDIT(Inv.), Unit-2(3), Kolkata that they