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 22, the annual value of any property shall be deemed to be— (a) the sum for which the property might reasonably be expected to let from year to year; or (b) where the property or any part of the property is let57 and the actual rent received or receivable57 by the owner in respect thereof is in excess

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 22, the annual value of any property shall be deemed to be— (a) the sum for which the property might reasonably be expected to let from year to year; or (b) where the property or any part of the property is let57 and the actual rent received or receivable57 by the owner in respect thereof is in excess

CHAMBAL FERTILISERS AND CHEMICALS LIMITED,KOTA vs. ACIT, KOTA

In the result, appeal of the revenue is dismissed

property of the electricity Board unlike the present case and is thus distinguishable. The decision in case of Taparia Tools is on the issue of allowability of revenue expenditure in the year of incurrence or spreading over a period of time. The same doesn’t 14 ITA NO. 201(6)/JP/2017 M/s. Chambal Fertilizers & Chemicals Ltd. support the case

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

property of the electricity Board unlike the present case and is thus distinguishable. The decision in case of Taparia Tools is on the issue of allowability of revenue expenditure in the year of incurrence or spreading over a period of time. The same doesn’t 14 ITA NO. 201(6)/JP/2017 M/s. Chambal Fertilizers & Chemicals Ltd. support the case

CHAMBAL FERTILISERS AND CHEMICALS LIMITED,KOTA vs. DCIT, KOTA

In the result, appeal of the revenue is dismissed

property of the electricity Board unlike the present case and is thus distinguishable. The decision in case of Taparia Tools is on the issue of allowability of revenue expenditure in the year of incurrence or spreading over a period of time. The same doesn’t 14 ITA NO. 201(6)/JP/2017 M/s. Chambal Fertilizers & Chemicals Ltd. support the case

ASSTT. COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-1, JAIPUR, JAIPUR vs. M/S MANGLAM BUILD DEVELOPERS LTD, JAIPUR

In the result, the appeal of the Revenue is dismissed

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

14A of the I.T. Act. 2.1 Apropos Ground No. 1 to 3 of the Revenue, the facts as emerges from the order of the ld. CIT(A) are as under:- ‘’4.2 I have considered the facts of the case and written submissions of the appellant as against the observations/findings of the AO in the assessment order for the year under

JAIPUR TELECOM PVT. LTD,JAIPUR vs. DCIT CIRCLE 1, JPR, JAIPUR

In the result the appeal of the assessee in ITA no

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

14A -Held, yes -Whether this by no stretch of imagination could be held to be 'misreporting' - Held, yes - Whether further, in absence of details as to which limb of section 270A was attracted and how ingredient of sub-section (9) of section 270A was satisfied, mere reference to word 'misreporting' by revenue in penalty order to deny immunity from imposition

JAIPUR TELECOM PRIVATE LIMITED,JAIPUR vs. DCIT CIRCLE 1, JPR, JAIPUR

In the result the appeal of the assessee in ITA no

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

14A -Held, yes -Whether this by no stretch of imagination could be held to be 'misreporting' - Held, yes - Whether further, in absence of details as to which limb of section 270A was attracted and how ingredient of sub-section (9) of section 270A was satisfied, mere reference to word 'misreporting' by revenue in penalty order to deny immunity from imposition

PINK CITY JEWEL HOUSE PRIVATE LIMITED ,JAIPUR vs. PRINCIPAL COMMISSIONER OF INCOME TAX (CENTRAL), JAIPUR

14A - As decided in Era\nInfrastructure (India) Ltd. [2022 (7) TMI 1093 - DELHI HIGH COURT]Amendment to\nsection 14A of the Act which is for removal of doubts cannot be presumed to be\nretrospective.\n• Hon'ble Delhi High Court in the case of PCIT v. Era Infrastructure (India) Ltd.\n(2022) 7 TMI 1093:Whether ITAT erred in relying

KANTA AGARWAL ,JAIPUR vs. DCIT CIRCLE 6, JAIPUR

Bench: HON’BLE SHRI SANDEEP GOSAIN (Judicial Member)

house property, capital gains and other sources. She e-filed her return of income on 27.09.2014 for the assessment year 2014-15 declaring total income of Rs. 5,04,310/- claiming exempt Long Term Capital Gain of Rs. 21,39,336/- under section 10(38) of the Income Tax Act, 1961. The case of the assessee was selected for scrutiny

KANTA DEVI,JAIPUR vs. ITO WARD 6(5), JAIPUR

Bench: HON’BLE SHRI SANDEEP GOSAIN (Judicial Member)

house property, capital gains and other sources. She e-filed her return of income on 27.09.2014 for the assessment year 2014-15 declaring total income of Rs. 5,04,310/- claiming exempt Long Term Capital Gain of Rs. 21,39,336/- under section 10(38) of the Income Tax Act, 1961. The case of the assessee was selected for scrutiny

DCIT, JAIPUR vs. VIGYAN LODHA, JAIPUR

In the result, the appeal of the Department is dismissed

Property, share of profit from Partnership firms, capital gains, dividend and income from other sources. From the documents /paper submitted by the assessee, the AO found that the assessee during the year under consideration has shown Long Term Capital Gains of Rs.4,65,83,342/- and claimed exemption u/s 10(38) of the Act. The transaction of purchase/sale of shares

BARODA RAJASTHAN KSHETRIYA GRAMIN BANK,AJMER vs. DY. CIT (ACIT) CIRCLE -2 AJMER , CR BUILDING,OPP. SESSION COURT,JAIPUR ROAD ,AJMER

In the result, the appeal of the assessee is dismissed

Bench: Shri Gagan Goyal & Shri Narinder Kumarbaroda Rajasthan Kshetriya Gramin Bank, 2343 Rajasthan Patrika Building, Vaishali Nagar, Ajmer – 305004 Pan No. Aaajb1164C ...... Appellant

14A of the Act. The assessee being aggrieved with this order of the AO preferred an appeal before the Ld. CIT(A), who in turn partly allowed the appeal of the assessee but confirmed the disallowance of deduction u/s. 80P of the Act. The assessee being further aggrieved preferred the present appeal before us. 4. We have gone through

ALLEN CAREER INSTITUTE,JAIPUR vs. JCIT, KOTA

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

section 14A of the I.T.Act. The assessee's plea that overdraft is its own money is not acceptable as FDRs were used as security for Over Draft and the source of investment was Over Draft and not its own money. e.g. If an assessee has placed house property

MACRO PROPRIETIES PRIVATE LIMITED,M 28 INCOME TAX COLONY TONK ROAD JAIPUR vs. DCIT CENTRAL CIRCLE 2, LIC BUILDING JAIPUR

In the result, the appeals of the assessee are allowed

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;djvihy la-@ITA No.174 TO 177/JP/2023 fu/kZkj.ko"kZ@AssessmentYear : 2013-14 TO 2016-17 M/s. Macro Properties Pvt. Ltd.M-28, Income Tax Colony, Tonk Road Jaipur cuke Vs. The DCIT Central Circle-2 LIC Building, Jaipur LFkk;hys[kk la-@thvkbZvkj la-@PAN/GIR No.: AAFCM 3633 D vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksjls@Assesseeby : Shri C.M. Agarwal, CA jktLo dh vksjls@Revenue by: Shri JameshKurian, CI

Housing Pvt Ltd.( Refer Asst Order Para 7, Pgs 3) ii Disallowance of Rs 2001/ u/s 14A- No reference to any seized or impounded material. 32 MACRO PROPERTIES PVT LTD. VS DCIT, CENTRAL CIRCLE-2, JAIPUR In making the addition at (i) above, the assessing Officer has referred to some documents however, the documents referred to are completely unrelated

KIRAN FINE JEWELLERS PRIVATE LIMITED,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2,, JAIPUR

In the result ground no 2 raised by the assessee is allowed

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

14A would include expenditures that are related to the investment made i.e. administration, capital expenditure, travelling expenses, operating expenses, etc. That such investment decisions are highly strategic in nature and are required to be made highly qualified and experienced professionals, require research and analysis, need to attend board meetings and make policy decisions. By no stretch of imagination

RAJESH KUMAR GUPTA,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-4, JAIPUR

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

House Property, Business & Profession, exempt Capital Gain & Other Sources. It is also noticed that the assessee has earned income from long-term capital gains from sales of shares amounting to Rs. 8,83,56,894/- during the year. This income from long-term capital gains has been claimed as exempt u/s 10(38) of 4 Rajesh Kumar Gupta vs. DCIT

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3, JAIPUR vs. M/S N. M. AGROFOOD PRODUCTS PVT. LTD., SRIGANGANAGAR

In the result the appeal of the revenue is dismissed

Housing Development Co. Vs DCIT [2014] 49 taxmann.com 98 (Karnataka) is as under: "Section 153A, read with section 263, of the Income-tax Act, 1961 - Search and seizure - Assessment in case of search or requisition (Conditions precedent) - Assessment year 2008-09 Whether once proceedings under section 153A is initiated, pursuant to search, order of assessment in respect of six years