KRISHNA BUILD HOME PRIVATE LIMITED,JAIPUR vs. ASST. COMMISSIONER OF INCOME TAX (HOLDING CHARGE OF ITO WARD 4(2)), JAIPUR

Bench: The Learned Ao, The Reassessment Proceeding Is Illegal, Bad In Law, Without Jurisdiction & Is Based On Wrong Facts & On Change Of Opinion & In Gross Violation Of Proviso To S. 147 Of The It Act, Which Says No Action Can Be Taken M/S. Krishna Build Home Pvt. Ltd., Jaipur.

house property by applying notional rent on the closing stock. 4. In respect of Additional Ground and Ground No. 1, before us, the ld. A/R of the assessee has submitted that the objection raised by the assessee was not disposed. In the objections filed vide letter dated 17.11.2017 the following issues were raised :- “that the assessment of the assessee

KRISHNA BUILD HOME PRIVATE LIMITED,JAIPUR vs. INCOME TAX OFFICER, WARD 4(2), JAIPUR, JAIPUR

Bench: The Learned Ao, The Reassessment Proceeding Is Illegal, Bad In Law, Without Jurisdiction & Is Based On Wrong Facts & On Change Of Opinion & In Gross Violation Of Proviso To S. 147 Of The It Act, Which Says No Action Can Be Taken M/S. Krishna Build Home Pvt. Ltd., Jaipur.

house property by applying notional rent on the closing stock. 4. In respect of Additional Ground and Ground No. 1, before us, the ld. A/R of the assessee has submitted that the objection raised by the assessee was not disposed. In the objections filed vide letter dated 17.11.2017 the following issues were raised :- “that the assessment of the assessee

WHOLE SALE CLOTH MERCHANT ASSOCIATION ,KOTA vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE KOTA , KOTA

housing construction. Therefore, the business activity as builder is not found to be as per objects of the trust. Hence, the section 11(4A) is clearly found to be applicable on the facts of the case. Since, the appellant is not eligible for benefit of section 11 as discussed earlier, the argument of the appellant that section 40(a)(ia

M/S. RATAN CONDUCTORS,JAIPUR vs. ACIT, CIRCLE-4, JAIPUR

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

Bench: Shri Sandeep Gosain, Jm & Shri Vikram Singh Yadav, Am Vk;Dj Vihy La-@Ita No. 1259/Jp/2019 Assessment Year: 2012-13 M/S Ratan Conductors, Cuke A.C.I.T., Vs. H-377(B), Road No. 17, Vki Area, Circle-4, Jaipur. Jaipur. Pan No.: Aabfr 8166 P Vihykfkhz@Appellant Izr;Fkhz@Respondent Fu/Kzkfjrh Dh Vksj Ls@ Assessee By : Shri Ashok Kr. Gupta (Adv) Jktlo Dh Vksj Ls@ Revenue By : Smt. Monisha Choudhary (Jcit) Lquokbz Dh Rkjh[K@ Date Of Hearing : 05/08/2021 Mn?Kks"K.Kk Dh Rkjh[K@ Date Of Pronouncement : 02/09/2021 Vkns'K@ Order Per: Sandeep Gosain, J.M. The Present Appeal Has Been Filed By The Assessee Against The Order Of The Ld. Cit(A)-2, Jaipur Dated 21/08/2019 For The A.Y. 2012-13 Wherein Following Grounds Have Been Taken By The Assessee: “1. Disallowance Of Interest Of Rs. 17,73,769/- On Account Of Non Tds:- That On The Facts & In The Circumstances Of The Case Ld. Cit(A) Has Grossly Erred In Law & Facts In Confirming Disallowance Of Interest Of Rs.17,73,769/- Paid To M/S Barelays Investment & Loan (India) Ltd. (Rs. 298826/-) & M/S Future Capital (Rs. 1474943/-) On Account Of Non Deduction Of Tds Thereon By Invoking Provisions Of Section 40(A)(Ia) Of The It Act 1961. (A) The Assessee Firm Paid, Interest Of Rs. 2,98,826/- To Nbfc. M/S Barelays Investment & Loan (India) Ltd. & Rs.14,74,943/- To M/S Future Capital Another Nbfc. The Assessee Firm Raised Loan

House of Lords in L' Office Cherifien des Phosphates v. Yamashita Shinnihon Steamship Co. Ltd. [1994] 1 All ER 20 has said the question of fairness has to be answered by taking into account various factors, viz., value of the rights which the statute affects; extent to which that value is diminished or extinguished by the suggested retrospective effect

M/S JLC ELECTROMET PVT. LTD.,JAIPUR vs. ASSISTANAT COMMISSIONER OF INCOME TAX, CIRCLE-4, JAIPUR

In the result, both the appeals filed by the assessee are allowed

house/ real estate agent / broker, who will be involved in merely identifying the right property for the prospective buyer / seller and once he completes the deal, he gets the commission. Thus, by no stretch of imagination, it cannot be said that the transaction partakes the character of "fees for technical services" as explained in the context of Section 9 (1

ACIT, KOTA vs. MANGALAM CEMENT LTD., KOTA

section 32(1) and thus has rightly claimed and been allowed additional depreciation u/s 32(1)(iia). (b) The payment of land tax and service tax was made in the year under consideration against the demand and therefore same is otherwise allowable u/s 43B. ACIT, Circle-1, Kota vs. M/s Mangalam Cement Ltd. Kota 4. The AO thereafter

SHREE CEMENT LIMITED,BANGUR NAGAR vs. ACIT, CENTRAL CIRCLE, AJMER

In the result, the appeal of the assessee - appellant in ITA No

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

13) The amount of income-tax as specified in sub-sections (4) to (10) and as increased by the applicable surcharge, for the purposes of the Union, calculated in the manner provided therein, shall be further increased by an additional surcharge, for the purposes of the Union, to be called the “Health and Education Cess on income-tax”, calculated

LOVELY PROMOTERS PRIVATE LIMITED,KOLKATA vs. ACIT, CENTRAL CIRCLE, AJMER, AJMER

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

Bench: him regarding non mentioning of Document Identification Number (DIN) in the body of the order u/s. 127 of the Act dated 08-09-2021 and various other technical pleas raised in grounds of appeal regarding validity of notice u/s. 148 of the Act, thereby appellate order passed by the CIT(A) is non-speaking order and deserves to be quashed. 4. On the facts and in circumstances of the case and in law, the AO erred in issuing notice u/s. 148 of the Act as it was a search related case u/s. 132 r/w

1) dated 21/03/2022 (correct date is 21/02/2022) (PB Page 96-105), wherein detail of transaction executed by assessee company through broker M/s SMC Global Securities Limited were provided. 8. Sir, one fails to understand that how detail of transaction which in fact executed by assessee can held as supporting evidence for allegation without any material based on which

SHREE CEMENT LIMITED,BEAWAR vs. DEPUTY COMMISSIONER OF INCOME TAX, AJMER

In the result, this appeal of the assessee is partly allowed and appeal of the Revenue is dismissed

Bench: HON’BLE SHRI SANDEEP GOSAIN, JM & HON’BLE SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

Housing Corporation Ltd (supra) held that assessee is not entitled to claim deduction u/s 80IB(10) from the net profit for the purpose of computing “Book Profit” u/s 115JB of the Act. Chheda Electricals and Electronics (P.) Ltd -vs.- DCIT (ITA NOs. 400 & 668/Pune/2018 dated 04-05-2022) In the said case, the assessee was claiming deduction u/s 80IC

M/S. SEATEL ELECTRONICS INDIA PRIVATE LIMITED,JAIPUR vs. INCOME TAX OFFICE, WARD-2(1), JAIPUR

In the result, appeal of the assessee is allowed in terms of the

House of Lords in L' office Cherifien des Phosphates v. Yamashita Shinnihon Steamship Co. Ltd. [1994] 1 All ER 20 has said the question of fairness has to be answered by taking into account various factors, viz., value of the rights which the statute affects; extent to which that value is diminished or extinguished by the suggested retrospective effect

SHRI KHATU SHYAM BUILDERS,JAIPUR vs. ACIT CENTRAL CIRCLE 2, JAIPUR, JAIPUR

In the result, the appeal of the assessee is allowed

Properties (P.) Ltd. v. Principal Commissioner of Income-tax [2019] 414 ITR 130 (Delhi) [CLC - 40 -50 ],deleted the penalty levied by the ld. AO and held as under: “….HEAD NOTES - Section 271(1)(c), read with section 37(1), of the Income-tax Act, 1961 - Penalty – For concealment of income (Disallowance of claim, effect of) - Assessment years

SHREE CEMENT LIMITED,BEAWAR vs. NATIONAL FACELESS ASSESSMENT CENTRE, DEPUTY COMMISSIONEROF INCOME TAX, CIRCLE -2, AJMER, AJMER

In the result, the appeal of the Revenue in ITA No

Bench: or at the time of hearing of this appeal.

Housing Corporation Limited vs ACIT (2009) 32 SOT 207 (Ahd ITAT), it has been held that capital receipts are eligible to be excluded by virtue of section 115JB (5) but not deduction u/s 80IA. 50. In view of several binding judicial precedents of Honourable High courts stated above holding that since 115JB(5) does not specify any particular claim

SHREE CEMENT LIMITED,BEAWAR vs. NATIONAL FACELESS ASSESSMENT CENTRE, DELHI

In the result, the appeal of the Revenue in ITA No

Bench: or at the time of hearing of this appeal.

Housing Corporation Limited vs ACIT (2009) 32 SOT 207 (Ahd ITAT), it has been held that capital receipts are eligible to be excluded by virtue of section 115JB (5) but not deduction u/s 80IA. 50. In view of several binding judicial precedents of Honourable High courts stated above holding that since 115JB(5) does not specify any particular claim

INCOME TAX OFFICER, WARD-1-5, JAIPUR vs. SHRI BANWARI LAL SHARMA, JAIPUR

In the result, both the appeals filed by the assessee and Revenue are disposed off in light of aforesaid directions

13. In the aforesaid factual background of the matter, the ld AR submitted that in ground no. 1 , the assessee has challenged the action of ld. CIT(A) in confirming the assessment (set aside) u/s 144 r.w.s.147 of the Income Tax Act passed by ld. AO in his “Individual capacity” as against “representative assessee of Smt. Pamela Jean Colleco

SHRI BANWARI LAL SHARMA,JAIPUR vs. INCOME TAX OFFICER, WARD-1-5, JAIPUR

In the result, both the appeals filed by the assessee and Revenue are disposed off in light of aforesaid directions

13. In the aforesaid factual background of the matter, the ld AR submitted that in ground no. 1 , the assessee has challenged the action of ld. CIT(A) in confirming the assessment (set aside) u/s 144 r.w.s.147 of the Income Tax Act passed by ld. AO in his “Individual capacity” as against “representative assessee of Smt. Pamela Jean Colleco

MAGENDRA SINGH RATHORE,ALWAR vs. DCIT CENTRAL CIRCLE-2, JAIPUR

In the result the appeal of the assessee is partly allowed

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

property. Sh. Magendra Singh Rathore 5. Aggrieved by the above order of the Assessing Officer the assessee preferred an appeal before the ld. CIT(A). Apropos to the grounds so raised by the assessee, the relevant finding of the ld. CIT(A) is as under:- “In this case the search action took place on 02.08.2017. Appellant had filed his original

PARADISE INFRASTRUCTURE,JAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1,, JAIPUR

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

Bench: The Learned Ao.

13 Paradise Infrastructure vs. ACIT & Ground No. 2– Under the facts and circumstances of the case, the Learned CIT(A) has erred in treating the explanation and paper book filed during appellate proceedings as additional evidence which are part of financial statements before the Learned Assessing Officer. (a) Facts of the case It is submitted that during the year under

RAGHAV KUMAR DHOOT,JAIPUR vs. DCIT CENTRAL CIRCLE 1, JAIPUR

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

house property and income\nfrom other sources.\n3.1 In the case of M/s Dhoot Sangmermer Pvt. Ltd, a survey\nunder section 133A of the Act was carried out on 05/06/2018 and\nduring the course of survey, certain papers were found at the\nbusiness premises of the company which was inventorised by the\nsurvey party as Annexure A-(Exhibit No.02). Shri