WORSHIP INFRAPROJECTS PRIVATE LIMITED,JAIPUR vs. DCIT, CEIRCLE-2, JAIPUR

In the result of the appeal of the assessee is allowed

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

40A(2)(b) for determination of ALP, there cannot be any adjustment in the income of the assessee on the ground of TP adjustment. Accordingly these grounds of the assessee are allowed. The additions made in the income of the assessee on account of TP adjustment in the domestic transaction are deleted. (x) ITAT Mumbai in the case of Mahindra

DEPUTY COMMISSIONER OF INCOME TAX, JAIPUR vs. M/S WORSHIP INFRAPROJECTS PVT LTD(PREVIOUSLY KNOWN AS OM METALS SPML INFRAPROJECTS PVT LTD), JAIPUR

In the result of the appeal of the assessee is allowed

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

40A(2)(b) for determination of ALP, there cannot be any adjustment in the income of the assessee on the ground of TP adjustment. Accordingly these grounds of the assessee are allowed. The additions made in the income of the assessee on account of TP adjustment in the domestic transaction are deleted. (x) ITAT Mumbai in the case of Mahindra

MOTHERS EDUCATION HUB,JAIPUR vs. ACIT, CIRCLE-1, JAIPUR, JAIPUR

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

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

House (P.) Ltd. Vs. CIT 117 ITR 569(SC) (Case laws compilation PB 1) The question whether a particular expenditure is excessive & unreasonable or not is essentially a question of fact & unless it is first held that such expenditure was excessive or unreasonable, the question of applicability of section 40(A)(2)(a) becomes academic. CIT Vs. Consulting Engineering Group

NATWAR LAL SHARDA,JAIPUR vs. PCIT-2, JAIPUR

In the result, the appeal of the assessee is allowed

house property and deduction of Rs.4,50,000/- was claimed u/s 24(a). It was held by ld. PCIT that as per the provision of section 56(2)(iii), any income by way of letting out of plant & machinery alongwith factory, if not chargeable under the head “Business & profession” than it would be chargeable to tax under the head “Income

M/S. OM SHIV PROPERTIES PVT. LTD,JAIPUR vs. ITO, WARD -6(1), JAIPUR

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

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

Properties Pvt. Ltd., Jaipur. of assessee company along with an application dated 28.10.2020 under section 5 of Limitation Act, 1963 has been filed, which reads as under :- Application U/s 5 of Limitation Act, 1963. 1. That the appellant is submitting appeal against order passed by CIT (A) vide order dt. 28.11.2016 wherein addition made in disallowance of cash payment

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)

house property” till A.Y. 2012-13. W.e.f. Assessment Year 2013-14, assessee started showing rental income as “Business Income” and simultaneously started charging depreciation on such rented buildings. During the course of scrutiny assessment, it was stated by ld.AO that depreciation on buildings was to be charged on Written Down Value as computed in accordance with explanation to section

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)

house property” till A.Y. 2012-13. W.e.f. Assessment Year 2013-14, assessee started showing rental income as “Business Income” and simultaneously started charging depreciation on such rented buildings. During the course of scrutiny assessment, it was stated by ld.AO that depreciation on buildings was to be charged on Written Down Value as computed in accordance with explanation to section

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

SHREE CEMENT LIMITED,BEAWAR vs. DEPUTY COMMISSIONER OF INCOME TAX, AJMER

In the result, this appeal of the assessee is partly allowed and appeal of the Revenue is dismissed

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

Housing Corporation Ltd (supra) held that assessee is not entitled to claim deduction u/s 80IB(10) from the net profit for the purpose of computing “Book Profit” u/s 115JB of the Act. Chheda Electricals and Electronics (P.) Ltd -vs.- DCIT (ITA NOs. 400 & 668/Pune/2018 dated 04-05-2022) In the said case, the assessee was claiming deduction u/s 80IC

SHRI NARESH KUMAR LUHADIA,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-7, JAIPUR

In the result, appeal of the assessee is allowed

Bench: The Itat.

house property. During the course of assessment proceedings, the A.O. found that the assessee has taken loan on interest from various parties, rate of interest was varying from 15 to 18%. The A.O. alleged that the assessee has paid higher rate of interest @ 18% to the parties related to him, therefore, by invoking provisions of Section 40A

SHRI NARESH KUMAR LUHADIA,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX , JAIPUR

In the result, appeal of the assessee is allowed

house property. The assessee filed his return of income on 23.09.2013 declaring total income of Rs. 70,90,920/-. The AO noted that the assessee has taken loans from related parties @ 18% whereas the other loans were taken from unrelated parties at lower rates. Accordingly, the AO restricted the payment of interest to the related parties at 15% per annum

KANHAIYA LAL LALWANI,JAIPUR vs. ITO WARD-5(1) JAIPUR, JAIPUR

In the result, the appeal of the assessee is allowed

Bench: Hon’ble SHRI SANDEEP GOSAIN (Judicial Member)

40A, situated at Krishna Colony, Ramgarh Mode, Jaipur during the financial yeawr 2000-2001, notwithstanding the fact that the valuation report of the said property submitted before the ld. CIT(A) as an evidence and for which the ld.CIT(A) himself observed that ‘’on verification of the documentary evidence and the valuation report, the claim of the assessee is appeared

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

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, 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, 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

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

BARMER LIGNITE MINING CO. LTD.,C-SCHEME, JAIPUR vs. DCIT, CIRCLE-6, JAIPUR, JAIPUR

Appeals of the assessee are allowed for statistical purposes in view of our detailed order (supra)

Bench: Dr. S. Seethalakshmi & Shri Gagan Goyal

property of the assessee was undoubtedly connected with and advantageous to the business activity of the assessee. Though it conferred upon the assessee an enduring advantage for the benefit of its business, it did not secure to the assessee any tangible, or intangible asset and further the enduring advantage gained by the assessee was chiefly to facilitate the assessee