AJOY SHARMA ,JAIPUR vs. DCIT CENTRAL CIRCLE-1, JAIPUR, JAIPUR

Section 139(1) waiting for the correct and\ncomplete information of income to be included, necessitating an upward revision of\nincome. Further had the assessee woke up only after issuance of notice u/s 143(2), he\ncould have filed the revised return immediately but not after a long gap of 5 months i.e.\non 31.03.2011. Undisputedly, the assessee is aged

AJOY SHARMA,JAIPUR vs. DCIT CENTRAL CIRCLE-1, JAIPUR, JAIPUR

Section 139(1) waiting for the correct and\ncomplete information of income to be included, necessitating an upward revision of\nincome. Further had the assessee woke up only after issuance of notice u/s 143(2), he\ncould have filed the revised return immediately but not after a long gap of 5 months i.e.\non 31.03.2011. Undisputedly, the assessee is aged

AJOY SHARMA ,JAIPUR vs. DCIT CENTRAL CIRCLE-1, JAIPUR, JAIPUR

Section 139(1) waiting for the correct and\ncomplete information of income to be included, necessitating an upward revision of\nincome. Further had the assessee woke up only after issuance of notice u/s 143(2), he\ncould have filed the revised return immediately but not after a long gap of 5 months i.e.\non 31.03.2011. Undisputedly, the assessee is aged

AJOY SHARMA ,JAIPUR vs. DCIT CENTRAL CIRCLE-1, JAIPUR, JAIPUR

Section 139(1) waiting for the correct and\ncomplete information of income to be included, necessitating an upward revision of\nincome. Further had the assessee woke up only after issuance of notice u/s 143(2), he\ncould have filed the revised return immediately but not after a long gap of 5 months i.e.\non 31.03.2011. Undisputedly, the assessee is aged

AJOY SHARMA ,JAIPUR vs. DCIT CENTRAL CIRCLE-1, JAIPUR, JAIPUR

Section 139(1) waiting for the correct and\ncomplete information of income to be included, necessitating an upward revision of\nincome. Further had the assessee woke up only after issuance of notice u/s 143(2), he\ncould have filed the revised return immediately but not after a long gap of 5 months i.e.\non 31.03.2011. Undisputedly, the assessee is aged

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

In the result, appeal of the assessee is allowed

41) of the Act and hence there is no\nviolation of Section 13(3) of the Act.\n(iii) Funds not kept in the form or modes specified in Section 11(5) of the Act\nDirections of the ITAT in first round: The operative part of discussion on this\nissue has been dealt in para

SHRI ANIL GHATIWALA,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3, JAIPUR

In the result, appeal of the assessee is partly allowed

house property, business and other sources. A search u/s 132 of the Act was conducted on 05.02.2015 in case of Bundi Silica Group, Kota and the assessee was part of the said Group. During the course of search proceedings, the statement of the assessee was recorded u/s 132(4) of the Act wherein he has declared undisclosed income

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

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

1).\nThe above judgement also needs to be considered in the interpretation of the \nidentifying the block of 10 years of the section 153C of the Act. There are \nnumerous judgements wherein it has been held that provisions of section 158BD \nand 153C are in substance similar and in section 158BD the block period is not \ndependent upon the date

RUPESH TAMBI,JAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, JAIPUR

In the result, the appeal of the assessee is Partly allowed

41,980/-on\n30-09-2015. As the search was conducted on 15-10-2014 i.e. FY 2014-15\nrelevant to AY 2015-16 and as per clause (b)(ii) of explanation to section\n271AAB, the year under consideration falls within the definition of 'specified\nyear. The total income declared in the ROI for the 'specified year\nincluded the undisclosed

INDIRA GIRI,JAIPUR vs. ASSESSING OFFICER, INCOME TAX DEPARMENT JAIPUR

The appeal of the assessee is allowed

Bench: The Due Date Of Furnishing Itr, Therefore Deposit In Capital Gain Account For Compliance U/S 54(2) Was Impossible On The Part Of The Assessee.

house property u/s 54F to Rs 28,00,000 only, as against claim made of Rs. 1,08,22,354/- and the deduction u/s 54F was recomputed proportionally as per provision of section 54F (1)b of the Income Tax Act. 5.1.1. In the computation of income, the appellant had claimed Rs.1,20,380/- as cost of acquisition, which

ASSISTANT COMMISSIONER OF INCOME TAX, EXEMPTIONS, CIRCLE, JAIPUR, JAIPUR RAJASTHAN vs. NAVRATAN VIDHA MANDIR SHIKSHA SAMITI, JAIPUR RAJASTHAN

In the result appeal filed by the Department is dismissed and the C

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

41,10,041/- 2010-11 1,23,49,760/- 52,66,074/- 2011-12 2,27,78,950/- 72,09,303/- From the above table, it can be seen that the Development fees is utilized in creation of capital asset and therefore the same cannot be treated as revenue receipt. In earlier years also, such development fees is accepted

SUPERFINE HOTELS PRIVATE LIMITED,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-6,, JAIPUR

In the result, appeal of the assessee is partly allowed

house property he did not offer the capital gains for tax-Later,\nhe annexed a note to the revised return stating that no tax is payable on\nthe capital gain as it is long-term capital gain and he has purchased\nanother property within 6 months out of the sale consideration—\nAssessee was acting on the wrong advice

INCOME TAX OFFICER , SIKAR vs. BHASKAR CHAUHAN, JAIPUR

In the result the appeal of the revenue in ITA no

Bench: Him.

property being land or building or both, shares and securities, loans and advances, deposits in bank account. (2) If any proceeding initiated or any order of assessment or reassessment made under sub-section (1) has been annulled in appeal or any other legal proceeding, then, notwithstanding anything contained in sub-section (1) or section 153, the assessment or reassessment relating

DCIT, CENTRAL CIRCLE-1, JAIPUR, JAIPUR vs. MAHAVEER KUMAR JAIN, JAIPUR

In the result, the both the appeals of the Revenue as well as CO's of\nthe assessee are dismissed\nOrder pronounced in the open court on 03/10/2024

house property as\nis also evident from the assessment order passed u/s 153A wherein\nthere is no mention about any incriminating material found for the\nrelevant assessment year even no mention in the AO remand report.\n15\nITA NO. 469 & 470/JP/2024\nDCIT, CENTRAL CIRCLE-1, JAIPUR VS SHRI MAHAVEER KUMAR JAIN\n2.\nSECOND REASON : NO ADDITION SOLELY ON THE BASIS

BHAWANI SHANKAR GUPTA,JAIPUR vs. INCOME TAX OFFICER, WARD 4(1) JAIPUR, JAIPUR

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

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

House Property, showing income under the head Profit and Gains from Business and Profession (covered under section 44AD) and Income from Other Sources. Since, assessee was not aware of the technical provisions of turnover etc. related to shares and securities business and since he also suffered loss, same was not declared in return of income. The case of the assessee

SHREE CEMENT LIMITED,BANGUR NAGAR vs. ACIT, CENTRAL CIRCLE, AJMER

In the result, the appeal of the assessee - appellant in ITA No

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

sections (4) to (10) and as increased by the applicable surcharge, for the purposes of the Union, calculated in the manner provided therein, shall be further increased by an additional surcharge, for the purposes of the Union, to be called the “Health and Education Cess on income-tax”, calculated at the rate of four per cent of such income

DCIT, CC-2, JAIPUR vs. M/S. ROYAL JEWELLERS, JAIPUR

In the result, appeals of the revenue stands dismissed

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

Housing Development Co. Vs DCIT [2014] 49 taxmann.com 98 (Karnataka) is as under: DCIT vs. M/s Royal Jewellers "Section 1534, read with section 263, of the Income-tax Act, 1961-Search and seizure-Assessment in case of search or requisition (Conditions precedent) - Assessment year 2008-09- Whether once proceedings under section 1534 is initiated, pursuant to search, order of assessment

DCIT, CC-2, JAIPUR vs. M/S. ROYAL JEWELLERS, JAIPUR

In the result, appeals of the revenue stands dismissed

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

Housing Development Co. Vs DCIT [2014] 49 taxmann.com 98 (Karnataka) is as under: DCIT vs. M/s Royal Jewellers "Section 1534, read with section 263, of the Income-tax Act, 1961-Search and seizure-Assessment in case of search or requisition (Conditions precedent) - Assessment year 2008-09- Whether once proceedings under section 1534 is initiated, pursuant to search, order of assessment