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.

168) “Following sub-section (5) shall be inserted after sub-section (4) of section 23 by the Finance Act, 2017, w.e.f. 1-4-2018 : (5) Where the property consisting of any building or land appurtenant thereto is held as stock-in-trade and the property or any part of the property is not let during the whole or any part

INCOME TAX OFFICER, WARD-3-2, JAIPUR vs. SILVER SAND BUILDERS PVT. LTD., JAIPUR

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

section 143(3). Subsequently the AO has proposed to assess the income being notional rent in respect of the closing stock in the commercial complex, namely, Silver Square. The said space which was to be assessed as Income from House Property is at 4th Floor of the said commercial complex. The AO has recorded identical reasons for all the three

INCOME TAX OFFICER, WARD-3-2, JAIPUR vs. SILVER SAND BUILDERS PVT. LTD., JAIPUR

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

section 143(3). Subsequently the AO has proposed to assess the income being notional rent in respect of the closing stock in the commercial complex, namely, Silver Square. The said space which was to be assessed as Income from House Property is at 4th Floor of the said commercial complex. The AO has recorded identical reasons for all the three

INCOME TAX OFFICER, WARD-3-2, JAIPUR vs. SILVER SAND BUILDERS PVT. LTD., JAIPUR

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

section 143(3). Subsequently the AO has proposed to assess the income being notional rent in respect of the closing stock in the commercial complex, namely, Silver Square. The said space which was to be assessed as Income from House Property is at 4th Floor of the said commercial complex. The AO has recorded identical reasons for all the three

SMT. IRVIND KAUR GUJRAL,JAIPUR vs. ITO, WARD-1(3), JAIPUR, JAIPUR

In the result, appeal of the assessee is dismissed

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

house properties situated at Australia considering Article 6 of DTAA with Australia. Thus, the assessee was confronted on the issue, the assessee vide reply dated 25.12.2020 submitted that as per section 9 of the Act income arising from any property situated in India shall be deemed to income accrue or arise in India. She further submitted that as Article

ACIT(EXEMPTION), JAIPUR vs. MAHIMA SHIKSHA SAMITI, JAIPUR

In the result, all the grounds taken by the Revenue are dismissed and ground taken by the assessee society is allowed

houses in India for residential purposes and which is eligible for deduction under clause (viii) of sub-section (1) of section 36; (ixa) deposits with or investment in any bonds issued by a public company Mahima Shiksha Samiti, Jaipur vs. ACIT,(Exemption), Jaipur formed and registered in India with the main object of carrying on the business of providing long

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)

section 69 cannot be invoked and the sundry debtors has to be treated as business or profession income of the assessee. Admittedly, in the present case, no existence of evidence in relation to any unaccounted independent identifiable other investment which was found during the course of survey. It is also admitted fact the appellant admittedly is engaged in business from

M/S. GANPATI GLOBAL PRIVATE LTD.,JAIPUR vs. ITO, WARD1(4), JAIPUR

In the result, the appeal of the assessee is dismissed

168. It was submitted that the Coordinate Bench in the said decision has exhaustively considered and analysed the decision of Hon’ble Supreme Court in case of Tuticorim Alkali Chemicals and Fertilizers Ltd. vs. CIT as well as its subsequent decisions in case of CIT vs. Bokaro Steel Limited (supra) and Bongaigaon Refinery and Petrochemicals

SCHOLARS EDUCATION TRUST OF INDIA,JAIPUR vs. CIT EXEMPTION, JAIPUR , JAIPUR

In the result, appeal of the assessee is allowed

property at 13 Rajdoot Marg, the\nrespondent/assessee submitted that it is not owned by the respondent/assessee, but by\nHamdard National Foundation (HNF), which leased it out to the respondent/assessee\nsince 2007, and part of it is occupied by Mr. Abdul Majeed since 2010-2011, as per the\nterms of his employment with the respondent/assessee since 1995.”\n44. The contention

ANIL KUMAR BATAR,SIKAR vs. PCIT-JAIPUR-2, JAIPUR

In the result, the appeal of the assessee is allowed

House Property has been properly shown in the\nreturn of income for the year under consideration.\nii. As it has already been stated in Paral as above that assessee earned\nrental income and interest income, therefore not liable for maintain any\ncash book and bank book. Hence such cash book and bank book is not\navailable with the assessee.\niii

KAILASH CHAND MEENA,ALWAR vs. ITO WARD2(3), ALWAR, ALWAR

In the result, the appeal of the assessee is allowed

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

section 115BBE is not applicable for AY 2017-18, reference is made in case of Samir Shantilal Mehta Vs ACIT ITA No. 42/Srt/2022 (Surat Trib), Arjunsinh Harisinh Thakor Vs ITO in ITA No. 245/Srt/2021 and in Jitendra Nemichand Gupta Vs ITO ITA No. 211/Srt/2021 and Indore Bench in DCIT Vs Punjab Retail Pvt. Ltd 677/Ind/2019 (Indore Trib) and Jabalpur Bench

SHRI VIJAY KUMAR,JAIPUR vs. INCOME TAX OFFICER, WARD-4-1, JAIPUR

In the result, the ground of appeal is allowed

house property for Rs 13,50,000/- out of which Rs 950,000/- was received in Urban Co-operative Bank Ltd and out of some old savings lying with him along with financial help from the family members, he has deposited cash in his bank account and out of the payments so received and deposited, he has invested

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)

house property, profits and gains of business or profession, or capital gains, nor is it income from other sources' because the provisions of sections 69, 69A, 69B, and 69C treat unexplained investments, unexplained 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

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1, KOTA vs. M/S SHIV VEGPRO PVT. LTD., KOTA

In the result, appeal of the revenue is dismissed

section 143(3). Subsequently the AO has proposed to assess the income being notional rent in respect of the closing stock in the commercial complex, namely, Silver Square. The said space which was to be assessed as Income from House Property is at 4th Floor of the said commercial complex. The AO has recorded identical reasons for all the three

M/S. VAIBHAV GLOBAL (GEMS) LTD.,JAIPUR vs. ACIT, CIRCLE-5, JAIPUR

In the result, appeals for the A

section 143(3). Subsequently the AO has proposed to assess the income being notional rent in respect of the closing stock in the commercial complex, namely, Silver Square. The said space which was to be assessed as Income from House Property is at 4th Floor of the said commercial complex. The AO has recorded identical reasons for all the three

M/S. VAIBHAV GLOBAL (GEMS) LTD.,JAIPUR vs. ACIT, CIRCLE-5, JAIPUR

In the result, appeals for the A

section 143(3). Subsequently the AO has proposed to assess the income being notional rent in respect of the closing stock in the commercial complex, namely, Silver Square. The said space which was to be assessed as Income from House Property is at 4th Floor of the said commercial complex. The AO has recorded identical reasons for all the three

M/S. VAIBHAV GLOBAL (GEMS) LTD.,JAIPUR vs. ACIT, CIRCLE-5, JAIPUR

In the result, appeals for the A

section 143(3). Subsequently the AO has proposed to assess the income being notional rent in respect of the closing stock in the commercial complex, namely, Silver Square. The said space which was to be assessed as Income from House Property is at 4th Floor of the said commercial complex. The AO has recorded identical reasons for all the three

SH. TARACHAND GUPTA,ALWAR vs. ACIT, CENTRAL CIRCLE, ALWAR, ALWAR

In the result the appeal filed by the revenue in ITA no

House Property Income and Income from\nOther Sources. In the search proceeding Id. AO vide notice u/s\n142(1) dated 03/09/2019 asked to explain the source of the cash\nloans along with supporting documentary evidences and proper\njustification for an amount of Rs.65,02,600/-. The assessee also\nrequired to provide Name, PAN and complete postal address of\nthe persons

KAMAKSHI HOSPITALITY PVT. LTD.,JAIPUR vs. DCIT, JAIPUR

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

house as on date comes to Rs. 1,62,84,560/-. 3. The long term capital gain on sale of property at D-112 and tax thereon works out as under:- Amount Particulars (in Rs.) Sale consideration of property 3,50,00,000 Less: Brokerage Paid 3,50,000 3,46,50,000 Less: Purchase cost