M/S G.D. TAMBI & SONS,JAIPUR vs. ACIT, CIRCLE-3, JAIPUR, JAIPUR

In the results, the appeal of the assessee in ITA no

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

house property. Ld. DR also filed a detailed written submission and case laws in support of her contention to support the orders of the lower authority. The written submission filed by the ld. DR reads as follows: It is most respectfully submitted that the revenue is placing reliance on Judgement of Hon'ble Delhi High Court in the case

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

section 160, 161 and 162 of the Act as the original order passed u/s 147/144 except for the variation of the fair market value which the assessee has challenged and we shall be dealing while adjudicating the subsequent ground of appeal. In the result, we donot find any merit in the ground so taken by the assessee and the same

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

section 160, 161 and 162 of the Act as the original order passed u/s 147/144 except for the variation of the fair market value which the assessee has challenged and we shall be dealing while adjudicating the subsequent ground of appeal. In the result, we donot find any merit in the ground so taken by the assessee and the same

WEST CENTRAL RAILWAY EMPLOYEES COOPERATIVE CREDIT SOCIETY LTD.,KOTA vs. ITO, WARD-2(1), KOTA, KOTA

In the results, the appeal of the assessee in ITA no

Bench: SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member), SHRI NARINDER KUMAR (Judicial Member)

245/- from the interest income of Rs.8,22,174/-, the balance interest income of Rs.2,75,929/- only can be taxed u/s 56 of the Act. In view of above, Ld. CIT(A), NFAC be directed to allow deduction u/s 80P(2) to the assessee as claimed. 10. The ld. AR of the assessee in addition to the above written

SHRI AMBICA GARMENTS, JODHPUR,JODHPUR vs. ACIT, CENTAL CIRCLE-3, JAIPUR, JODHPUR

In the result, all appeals of the assessee are disposed off in terms of

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 explained

SANJAY KUMAR KARNANI,JAIPUR vs. ACIT, CENTRAL CIRCLE-3, JAIPUR, JAIPUR

In the result, all appeals of the assessee are disposed off in terms of

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

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 explained

SHRI AMBICA GARMENTS, JODHPUR,JODHPUR vs. ACIT, CENTRAL CIRCLE-3, JAIPUR, JAIPUR

In the result, all appeals of the assessee are disposed off in terms of

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

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 explained

SANJAY KUMAR KARNANI,JAIPUR vs. ACIT, CENTRAL CIRCLE-3, JAIPUR, JAIPUR

In the result, all appeals of the assessee are disposed off in terms of

Bench: AO on 12-04-2021 18. Reply filed before AO on 15-07-2021 19. Additional Written Submissions filed before CIT(A) for AY 2014-15 on 11-11-2024 20. Written Submissions filed before CIT(A) for AY 2014-15 21. Written Submissions filed before CIT(A) for AY 2015-16 on 10-10-2024 22. Written Submissions filed before CIT(A) for AY 2016-17 on 10-10-2024 23. Written Submissions filed before CIT(A) for AY 2017-18 on 15-10-2024 24. Written Submissions filed before CIT(A) for AY 2018-19 on 15-10-2024 25.

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 explained

SHRI AMBICA GARMENTS, JODHPUR,JODHPUR vs. ACIT, CENTAL CIRCLE-3, JAIPUR, JAIPUR

In the result, all appeals of the assessee are disposed off in terms of

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 explained

PRANATI BUILDCON, KOTA,KOTA vs. ACIT/DCIT CEN CIR ,KOTA, KOTA

In the result, the appeal of the assessee is allowed

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

house property, capital gain, business or profession. 1.2 A combined reading of S. 14 with S. 56 of the Act makes is evidently clear that for the assessment of an income it must have to be classified under four heads of income as enumerated u/s 14 and if it doesn’t fall under any specific head of income

SANDEEP SETHI ,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX,CENTRAL CIRCLE-1,JAIPUR, JAIPUR

In the result, both the appeals of the assessee are allowed

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

house property, Remuneration & Interest Income from M/s Nine Jewellery (50.00% Share), Income from short term capital gain, Interest Income from saving bank A/c and parties & Interest Income from minor Shaurya sethi & Kashvi during the year. 7. Accordingly notice u/s 142(1) of the Act was issued to the assessee on 14-09-2017 which was duly served. In response

RAJIV NIGOTIYA,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX,CENTRAL CIRCLE-1, JAIPUR

In the result, both the appeals of the assessee are allowed

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

house property, Remuneration & Interest Income from M/s Nine Jewellery (50.00% Share), Income from short term capital gain, Interest Income from saving bank A/c and parties & Interest Income from minor Shaurya sethi & Kashvi during the year. 7. Accordingly notice u/s 142(1) of the Act was issued to the assessee on 14-09-2017 which was duly served. In response

SH. SHASHANK PODDAR,JAIPUR vs. ACIT, CIRCLE-3, JAIPUR, JAIPUR

In the result, the appeal of the assessee is allowed

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

section 250 of the I.T. Act, 1961, for the assessment year 2016-17. 2. The assessee has raised the following ground of appeal :- 2 Sh. Shashank Poddar, Jaipur. “1.That the Ld.CIT(A), NFAC has erred on facts and in law in confirming the disallowance of interest expenses of Rs.26,60,245/- u/s 57 of the Income

WEST CENTRAL RAILWAY EMPLOYEES COOPERATIVE CREDIT SOCIETY LTD.,KOTA vs. ITO, WARD-2(1), KOTA, KOTA

In the results, the appeal of the assessee in ITA no

245/- from the interest income of Rs.8,22,174/-, the\nbalance interest income of Rs.2,75,929/- only can be taxed u/s 56 of the Act.\nIn view of above, Ld. CIT(A), NFAC be directed to allow deduction u/s 80P(2) to\nthe assessee as claimed.\n10. The Id. AR of the assessee in addition to the above written

WEST CENTRAL RAILWAY EMPLOYEES COOPERATIVE CREDIT SOCIETY LTD.,KOTA vs. ITO, WARD-2(1), KOTA, KOTA

In the results, the appeal of the assessee in ITA no

245/- from the interest income of Rs.8,22,174/-, the\nbalance interest income of Rs.2,75,929/- only can be taxed u/s 56 of the Act.\nIn view of above, Ld. CIT(A), NFAC be directed to allow deduction u/s 80P(2) to\nthe assessee as claimed.\n10. The Id. AR of the assessee in addition to the above written

ACIT, CENTRAL CIRCLE, KOTA vs. BANAS MINERALS PRIVATE LIMITED, JHALAWAR

In the result the appeal of the revenue in ITA no

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

House vs. ITO (1995) 53TTJ (Coch-Trib) 293, it is held that there is a material difference on the question of onus between section 68 and section 69. If the case falls u/s 68 of the Act, the onus is on the assessee to adduce evidence that the credits in the accounts are genuine. In a case under section

ASSISTANT COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE, KOTA vs. BANAS BUILDERS AND DEVELOPERS LLP, JHALAWAR

In the result the appeal of the revenue in ITA no

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

House vs. ITO (1995) 53TTJ (Coch-Trib) 293, it is held that there is a material difference on the question of onus between section 68 and section 69. If the case falls u/s 68 of the Act, the onus is on the assessee to adduce evidence that the credits in the accounts are genuine. In a case under section

ASSTT. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOTA vs. BANAS MINERALS PRIVATE LIMITED, JHALAWAR

In the result the appeal of the revenue in ITA no

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

House vs. ITO (1995) 53TTJ (Coch-Trib) 293, it is held that there is a material difference on the question of onus between section 68 and section 69. If the case falls u/s 68 of the Act, the onus is on the assessee to adduce evidence that the credits in the accounts are genuine. In a case under section