ACIT, CIRCLE, BHARATPUR vs. M/S. JAGDAMBE STONE COMPANY, BHARATPUR

In the result, this appeal of the Revenue is dismissed

Bench: Shri Sandeep Gosain, Jm & Shri Vikram Singh Yadav, Am

house property instead of income from business or profession. The ld DR has relied on the following decisions: (i) Karanpura Development Co. Ltd. Vs CIT (1962) 44 ITR 362 (SC) (ii) Palam Gas Service Vs CIT (2017) 81 taxmann.com 43 (SC) 4 ITA 1171/JP/2019_ ACIT Vs M/s Jagdambe Stone Company (iii) Shr Choudhary Transport Company Vs ITO (2020) 118 Taxmann.com

M/S WHOLESALE CLOTH MERCHANT,KOTA vs. PR. COMMISSIONER OF INCOME TAX (CENTRAL), RAJASTHAN, JAIPUR

In the result, appeal of the assessee is allowed

Bench: Shri Sandeep Gosain, Jm & Shri Vikram Singh Yadav, Am Vk;Dj Vihy La-@Ita No. 688/Jp/2019 Assessment Year: ………………………… M/S Wholesale Cloth Merchant Cuke Pr.C.I.T. (Central), Vs. Association, Jaipur (Rajasthan) New Cloth Market, Kota. Pan No.: Aaatw 0127 C Vihykfkhz@Appellant Izr;Fkhz@Respondent Fu/Kzkfjrh Dh Vksj Ls@ Assessee By : Shri Siddarth Ranka & Shri Shravan Kr. Gupta (Advs) Jktlo Dh Vksj Ls@ Revenue By : Shri Ambrish Bedi (Cit-Dr) Lquokbz Dh Rkjh[K@ Date Of Hearing : 14/10/2020 Mn?Kks"K.Kk Dh Rkjh[K@ Date Of Pronouncement : 06/01/2021 Vkns'K@ Order Per: Sandeep Gosain, J.M. The Present Appeal Has Been Filed By The Assessee Against The Order Of The Ld. Pr.Cit(Central), Rajasthan, Jaipur Dated 22/03/2019 Passed U/S 12Aa(3) & 12Aa(4) Of The Income Tax Act, 1961 (In Short, The Act). Following Grounds Have Been Taken By The Assessee: “1. That In The Facts & In The Circumstances Of The Case & In Law, The Ld Pr. Cit(Central), Rajasthan, Jaipur Has Grossly Erred In Cancelling The Registration Of The Assessee Appellant Trust Under Section 12A Of The Act By Invoking Section 12Aa(4) Of The Act W.E.F. 01/04/2013. 2. The Appellant Craves Leave To Add, Alter, Modify Or Amend Any Ground On Or Before The Date Of Hearing.”

property to be used or applied directly for the benefit of a persons referred to U/s 13(3) of the Act. Therefore, as per the provisions of Section 13(1)(c)(ii) of the Act, nothing contained in Section 11 and 12 shall operate so as to exclude the total income of the assessee. Therefore, the activities of the assessee

ASHOK SINGH ,IMLI PHATAK vs. DCIT CENTRAL CIRCLE 2 JAIPUR, LIC BUILDING JAIPUR

In the result, the appeal of the assessee is allowed

Section 53A of transfer of property Act, 1882 provides that where the\nbuyer has obtained possession of the property that is subject matter of the\ntransfer, while fully complying with his part of the obligation under the agreement,\nthe seller shall not be entitled to disturb the possession so granted to the buyer.\nIn the instant case the assessee alongwith

HOLIDAY TRIANGLE TRAVEL PRIVATE LIMITED,GURGAON vs. INCOME TAX OFFICER, JAIPUR

In the result, appeal of the assessee is allowed

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI GAGAN GOYAL (Accountant Member)

House, Vs. Ward 7(3) Sector-32, Jaipur. Gurgaon. (Haryana) LFkk;hys[kk la-@thvkbZvkj la-@PAN/GIR No. AACCH 7688 E vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@Assesseeby : Shri Dilip Shivpuri, Advocate & Shri Utkarsh Shara, Advocate jktLo dh vksj ls@ Revenue by : Shri Gautam Singh Choudhary, JCIT lquokbZ dh rkjh[k@ Date of Hearing : 07/01/2025 ?kks"k.kk

ANSHU SAHAI (HUF),JAIPUR vs. ACIT, CENTRAL CIRCLE, CENTRAL CIRCLE

vi) \n56,31,38,250 \n\nS.No \nName of the assessee \nFY 2015-16 \nAY 2016-17 \nFY 2016-17 \nAY 2017-18 \nFY 2017-18 \nAY 2018-19 \nTotal \n1 \nAnshu Sahay HUF \n16,21,91,214 \n17,81,66,880 \n3,40,24,557 \n37,43,82,651 \n2 \nDr. Madhuri Sahay

AJAY BAKLIWAL,KOTA vs. ACIT, CENTRAL CIRCLE, KOTA, KOTA

2,65,99,000 \nbeing the alleged cash transaction between M/s. Millenium Build Home P. \nLtd and M/s Nevralji Estate P. Ltd.\n11. As is evident from the facts of the case narrated herein above that \ndisputes arise because the revenue collected some documents in that \nsearch and those documents were considering being the nature of \nincriminating and that

DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-3, JAIPUR vs. M/S RIGID CONDUCTORS (RAJ.) PVT. LTD., JAIPUR

In the result, the appeals of the revenue stands dismissed

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

47) makes it amply clear that compulsory land acquisition is one of the forms of land transfer. Hence, the case is squarely covered under the definition of transfer of capital asset. Also section 45(5) of the I.T.Act, 1961 is related to capital gain in case of compulsory acquisition of land which is applicable in this case. Hence, the assessee

DEPUTY COMMISSINER OF INCOME TAX, LIC BUILDING vs. M/S GEE VEE DEVELOPERS PVT. LTD., JAIPUR

In the result, the appeals of the revenue stands dismissed

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

47) makes it amply clear that compulsory land acquisition is one of the forms of land transfer. Hence, the case is squarely covered under the definition of transfer of capital asset. Also section 45(5) of the I.T.Act, 1961 is related to capital gain in case of compulsory acquisition of land which is applicable in this case. Hence, the assessee

DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-3, JAIPUR vs. M/S CHOKHI DHANI DEVELOPERS PVT. LTD., JAIPUR

In the result, the appeals of the revenue stands dismissed

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

47) makes it amply clear that compulsory land acquisition is one of the forms of land transfer. Hence, the case is squarely covered under the definition of transfer of capital asset. Also section 45(5) of the I.T.Act, 1961 is related to capital gain in case of compulsory acquisition of land which is applicable in this case. Hence, the assessee

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3, JAIPUR vs. M/S VISION ESTATES PVT. LTD., JAIPUR

In the result, the appeals of the revenue stands dismissed

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

47) makes it amply clear that compulsory land acquisition is one of the forms of land transfer. Hence, the case is squarely covered under the definition of transfer of capital asset. Also section 45(5) of the I.T.Act, 1961 is related to capital gain in case of compulsory acquisition of land which is applicable in this case. Hence, the assessee

ALOK VIJAWAT,JAIPUR vs. PCIT, UDAIPUR, UDAIPUR

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

vi ew were also expressed by the Hon'ble Delhi High Court in the case of CIT v. Vodafone Essar South Ltd. [2013] 212 taxman 0184. We observe the Pr.CIT has drawn support from newly inserted Explanation 2 below section 263(1) of the Act introduced by Finance Act, 2015 w.e.f. 1-6-2015 for his action. The Explanation 2

CAREER POINT LIMITED,KOTA, RAJASTHAN vs. PRINCIPAL COMMISSIONER OF INCOME TAX, UDAIPUR, RAJASTHAN

In the result, the appeal of the assessee is allowed

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

vi) Emtici Engineering Ltd. Versus ACIT (OSD). Anand Circle, Anand 2016 (3) TMI 186 - ITAT Ahmedabad. “It was noted from records that the assessee was having share holding funds to the extent of 2607.18 crores and the investment made by it was to the extent of Rs. 195.10 crores. In other words, the assessee had sufficient funds for making

INCOME TAX OFFICER, WARD-1(2), JAIPUR, JAIPUR vs. MUKESH KUMAR SONI, JAIPUR

In the result appeal of the revenue is dismissed and the cross

Bench: Moving Towards The Facts Of The Case We Would Like To Mention

House (ITA No.613/2010). In the facts of above case, a cash of Rs. 24,58,400/- was deposited in bank account by the assessee. The Assessing Officer made the addition on the ground that nexus of such deposit was not establish with any source of income. The assessee claimed that it was duly recorded in the books of account

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

In the result, the appeals of the assessee in ITA no

47. Clarificatory amendment in respect of reassessment proceeding under S.\n147.\n47.1: The existing provisions of S.147 provides that if the Assessing Officer\nhas reason to believe that any income chargeable to tax has escaped\nassessment for any assessment year, he may, subject to the provisions of S.\n148 to 153, assess or reassess such income and also any other

OM KOTHARI FOUNDATION,JAIPUR, RAJASTHAN vs. ITO, (EXEMPTION) WARD-1, JAIPUR, JAIPUR, RAJASTHAN

In the result, the appeals of the assessee in ITA No

Bench: SHRI SANDEEP GOSAIN (Judicial Member), DR MITHA LAL MEENA (Accountant Member)

house property, capital gains and other sources, the provisions of section 32 are not applicable. Provisions of section 32, i.e., deprecation are, therefore, applicable in case of income earned under the head 'profit and gains of business or profession'. Depreciation under section 32(1) is allowable in respect of both tangible and intangible assets which are 33 OM KOTHARI FOUNDATION

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

47. Clarificatory amendment in respect of reassessment proceeding under S.\n147.\n\n47.1: The existing provisions of S.147 provides that if the Assessing Officer\nhas reason to believe that any income chargeable to tax has escaped\nassessment for any assessment year, he may, subject to the provisions of S.\n148 to 153, assess or reassess such income and also

PUNEET SINGHVI,KOTA vs. ITO, WARD-2(1), KOTA

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

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

house property and other sources – A reopening notice was issued upon assessee for reason that an information was received through insight portal that assessee despite having a salary of certain taxable amount and having purchased securities of certain amount had not filed his return of income – It was noted that notice under section 148A(b) did not call upon assessee

SUWALKA AND SUWALKA PROPERTIES AND BUILDERS PVT LTD,KOTA, RAJASTHAN vs. ACIT, CENTRAL CIRLCE, KOTA, KOTA, RAJASTHAN

Bench: Him Challenging The 2 Suwalka & Suwalka Properties & Builders Pvt. Ltd. Vs. Acit Assessment Order Dated 22.12.2019 Passed U/S.143(3)Of The Income Tax

vi) Opening closing stock not mentioned:- 28 Suwalka and Suwalka Properties and Builders Pvt. Ltd. vs. ACIT The lower authorities doubted the genuineness of cash sale by mentioning the no details of opening closing stock was mentioned in the financial statements. In this regard, the assessee submit that it is neither trader nor manufacture of items which were sold