M/S. KEDIA REAL ESTATE LLP,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3, JAIPUR

In the result, appeals of the revenue are dismissed whereas appeals of the assessee are allowed in part

property developers, capital gain on sale of plots, interest and other income. Search and seizure operations u/s 132(1) of Income Tax Act, 1961 were carried out by Income Tax department over the assessee group on 19.11.2016. Notice U/s 153A of the Act was issued in response to notice issued u/s 153A of the Act, the assessee filed his return

ACIT, JAIPUR vs. RATAN KANWAR RATNAWAT, JAIPUR

In the result, the appeals of the Revenue are dismissed and

158B; the same would fall under the words "and such other materials or information as are available with the Assessing Officer and relatable to such evidence" occurring in section 158BB. In the present case, the Assessing Officer was justified in taking the adverse material collected or found during the survey or any other method while making the block assessment. [Para

ACIT, CC-2, JAIPUR, JAIPUR vs. MAHENDRA SINGH RATNAWAT, JAIPUR

In the result, the appeals of the Revenue are dismissed and

158B; the same would fall under the words "and such other materials or information as are available with the Assessing Officer and relatable to such evidence" occurring in section 158BB. In the present case, the Assessing Officer was justified in taking the adverse material collected or found during the survey or any other method while making the block assessment. [Para

ACIT, CC-2, JAIPUR, JAIPUR vs. MAHENDRA SINGH RATNAWAT, JAIPUR

In the result, the appeals of the Revenue are dismissed and

158B; the same would fall under the words "and such other materials or information as are available with the Assessing Officer and relatable to such evidence" occurring in section 158BB. In the present case, the Assessing Officer was justified in taking the adverse material collected or found during the survey or any other method while making the block assessment. [Para

ACIT, JAIPUR vs. RATAN KANWAR RATNAWAT, JAIPUR

In the result, the appeals of the Revenue are dismissed and

158B; the same would fall under the words "and such other materials or information as are available with the Assessing Officer and relatable to such evidence" occurring in section 158BB. In the present case, the Assessing Officer was justified in taking the adverse material collected or found during the survey or any other method while making the block assessment. [Para

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3, INCOME TAX OFFICE vs. SHRI SURESH KUMAR GUPTA, SRIGANGANAGAR

In the result the appeal of the revenue in ITA No

Section 263 of the Act were proper and legal and the Tribunal committed a serious error in reversing such decisions. Mr. Arif Ali, learned Advocate appearing for the appellant in ITAT No. 44 of 2020 (Assessee-Gupta Agarwal) submitted that the facts which have been set out in the memorandum of appeal, is wholly incorrect and does not pertain

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

In the result the appeal of the revenue in ITA No

Section 263 of the Act were proper and legal and the Tribunal committed a serious error in reversing such decisions. Mr. Arif Ali, learned Advocate appearing for the appellant in ITAT No. 44 of 2020 (Assessee-Gupta Agarwal) submitted that the facts which have been set out in the memorandum of appeal, is wholly incorrect and does not pertain

KAILASH CHAND MAHESHWARI,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX , JAIPUR

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

section 57 (iii) of the Act. We thus decline to interfere with the action of the Assessing Officer and the First Appellate Authority." The onus is on the appellant to show one-to-one matching and prove that the interest expenditure for the borrowed funds have been used wholly and exclusively only for the purpose of making investments which have

KAILASH CHAND MAHESHWARI,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX,CENTRALCIRCLE-2, JAIPUR

section 57 (iii) of the Act. We thus decline to\ninterfere with the action of the Assessing Officer and the First Appellate Authority.\"\nThe onus is on the appellant to show one-to-one matching and prove that the\ninterest expenditure for the borrowed funds have been used wholly and exclusively\nonly for the purpose of making investments which have

KAILASH CHAND MAHESHWARI,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, , JAIPUR

section 57 (iii) of the Act. We thus decline to\ninterfere with the action of the Assessing Officer and the First Appellate Authority.\"\nThe onus is on the appellant to show one-to-one matching and prove that the\ninterest expenditure for the borrowed funds have been used wholly and exclusively\nonly for the purpose of making investments which have

ASSISTANT COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-3, JAIPUR vs. SHRI NIRMAL KUMAR KEDIA,, JAIPUR

In the result, appeals of the revenue are dismissed whereas the appeals of the assessee are allowed in part in terms indicated hereinabove

Properties relied on by the AO was on different facts in so far as in the case of Diamond Investment Flats were sold by the assessee to the related parties, however, in the case 88 ITA 124 to 126/JP/2019 & 286 to 288/JP/2019_ Shri Nirmal Kumar Kedia Vs DCIT of above all the flats were sold by the assessee

SHRI NIRMAL KUMAR KEDIA,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3, JAIPUR

In the result, appeals of the revenue are dismissed whereas the appeals of the assessee are allowed in part in terms indicated hereinabove

Properties relied on by the AO was on different facts in so far as in the case of Diamond Investment Flats were sold by the assessee to the related parties, however, in the case 88 ITA 124 to 126/JP/2019 & 286 to 288/JP/2019_ Shri Nirmal Kumar Kedia Vs DCIT of above all the flats were sold by the assessee

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3, JAIPUR vs. SHRI NITIN KEDIA, JAIPUR

In the result, appeals of the revenue are dismissed whereas the appeals of the assessee are allowed in part in terms indicated hereinabove

Properties relied on by the AO was on different facts in so far as in the case of Diamond Investment Flats were sold by the assessee to the related parties, however, in the case 88 ITA 124 to 126/JP/2019 & 286 to 288/JP/2019_ Shri Nirmal Kumar Kedia Vs DCIT of above all the flats were sold by the assessee

SHRI NIRMAL KUMAR KEDIA,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3, JAIPUR

In the result, appeals of the revenue are dismissed whereas the appeals of the assessee are allowed in part in terms indicated hereinabove

Properties relied on by the AO was on different facts in so far as in the case of Diamond Investment Flats were sold by the assessee to the related parties, however, in the case 88 ITA 124 to 126/JP/2019 & 286 to 288/JP/2019_ Shri Nirmal Kumar Kedia Vs DCIT of above all the flats were sold by the assessee

DEPUTY COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-3, JAIPUR vs. SHRI NIRMAK KUMAR KEDIA,, JAIPUR

In the result, appeals of the revenue are dismissed whereas the appeals of the assessee are allowed in part in terms indicated hereinabove

Properties relied on by the AO was on different facts in so far as in the case of Diamond Investment Flats were sold by the assessee to the related parties, however, in the case 88 ITA 124 to 126/JP/2019 & 286 to 288/JP/2019_ Shri Nirmal Kumar Kedia Vs DCIT of above all the flats were sold by the assessee

SHRI NIRMAK KUMAR KEDIA,,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-3, JAIPUR

In the result, appeals of the revenue are dismissed whereas the appeals of the assessee are allowed in part in terms indicated hereinabove

Properties relied on by the AO was on different facts in so far as in the case of Diamond Investment Flats were sold by the assessee to the related parties, however, in the case 88 ITA 124 to 126/JP/2019 & 286 to 288/JP/2019_ Shri Nirmal Kumar Kedia Vs DCIT of above all the flats were sold by the assessee