KRISHNA BUILD HOME PRIVATE LIMITED,JAIPUR vs. ASST. COMMISSIONER OF INCOME TAX (HOLDING CHARGE OF ITO WARD 4(2)), 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.

house property by applying notional rent on the closing stock. 4. In respect of Additional Ground and Ground No. 1, before us, the ld. A/R of the assessee has submitted that the objection raised by the assessee was not disposed. In the objections filed vide letter dated 17.11.2017 the following issues were raised :- “that the assessment of the assessee

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.

house property by applying notional rent on the closing stock. 4. In respect of Additional Ground and Ground No. 1, before us, the ld. A/R of the assessee has submitted that the objection raised by the assessee was not disposed. In the objections filed vide letter dated 17.11.2017 the following issues were raised :- “that the assessment of the assessee

RADHEY CONSTRUCTION PVT. LTD.,JAIPUR vs. ITO, JAIPUR

Appeal is dismissed

Bench: Or At The Time Of Hearing.”

section 23(1)(c) are fully applicable to the facts of the case. The property of the assessee meets these conditions. The assessee has disclosed rent from letting out the part of the property namely Ramas Janki Vihar. Such rent has been disclosed at Rs. 2,64,500/-. Copies of rent agreements are available on paper book page

VIRENDRA SINGH BHADAURIA,JAIPUR vs. PR. CIT-3, , JAIPUR

In the result, this appeal of the assessee is allowed

Bench: Shri Sandeep Gosain, Jm & Shri Vikram Singh Yadav, Am Vk;Dj Vihy La-@Ita No. 255/Jp/2020 Assessment Year: 2015-16 Virendra Singh Bhadauriya, Cuke Pr.Cit-3, Vs. 71, Mansa Nagar, Shirsi Road, Jaipur. Jaipur-302012. Pan No.: Aaepb 0767 F Vihykfkhz@Appellant Izr;Fkhz@Respondent Fu/Kzkfjrh Dh Vksj Ls@ Assessee By : Ms. Datyani Pandey (Adv) & Shri Rajiv Pandey (Ca) Jktlo Dh Vksj Ls@ Revenue By : Shri B.K. Gupta (Cit-Dr) Lquokbz Dh Rkjh[K@ Date Of Hearing : 10/02/2021 Mn?Kks"K.Kk Dh Rkjh[K@ Date Of Pronouncement : 25/03/2021 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-3, Jaipur Dated 16/03/2020 Passed U/S 263 Of The Income Tax Act, 1961 (In Short, The Act) For The A.Y. 2015-16. The Assessee Has Raised Following Grounds Of Appeal: “1. On The Facts & Circumstances Of The Case Ld. Pr. Commissioner Of Income Tax-3, Jaipur Erred In:- Ground No.1:- In Holding That The Assessment Order Dt.26.12.2017 Passed U/S 143(3) By Assessing Officer To Be Erroneous In So Far As Is Prejudicial To Interest Of Revenue On Issues Of 2

properties. According to the ld. Pr.CIT, as per the proviso (ii) of Section 54F(1) of the Act, no deduction is allowable to the assessee if he purchases any residential house, other than the new asset, within a period of one year after the date of transfer of the original asset. Consequently, after issuing show cause notice and seeking reply

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

RAJ KUMAR JAIN,JAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE – 2, JAIPUR, JAIPUR

In the result, appeal of the assessee is allowed

house property and income from other sources. The returned income was accepted by the AO while framing the assessment under section 143(3) and hence assessee’s case does not fall in the category where the regular books of accounts are mandatory. The entries of investment in real estate were found recorded in the diary and in the absence

DCIT,C-7, JAIPUR vs. BHARAT MOHAN RATURI, JAIPUR

In the result, the appeal of the Department is dismissed and that of the C

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;djvihy la-@ITA No. 413/JP/2022 fu/kZkj.ko"kZ@AssessmentYear :2013-14 The DCIT Circle-7 Jaipur cuke Vs. Shri Bharat Mohan Raturi 161, Indira Colony, Bani Park Jaipur 302 015 (Raj) LFkk;hys[kk la-@thvkbZvkj la-@PAN/GIR No.: AANPR 7066G vihykFkhZ@Appellant izR;FkhZ@Respondent CO No. 2/JP/2023 (Arising out of vk;djvihy la-@ITA No. 413/JP/2022 ) fu/kZkj.ko"kZ@AssessmentYear :2013-14 Shri Bharat Mohan Raturi 161, Indira

50,000 Value shown in the Balance Sheet of the assessee in Schedule 1 of 4,38,675 Fixed Assets as House 2 along with Stamp Duty and other charges 27/10/2004 Demolition of Old Structure on the above plot of land through Contractor Shri Gopal Lal Kumawat 10/6/2011 Division of above plot of land between the assessee and his wife

SHRI RAM DAS SONKIA,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, JAIPUR

In the result, appeal of the assessee is allowed

house property and income from other sources besides profit from partnership firm. A search and seizure action under section 132(1) of the I.T. Act was carried out on 15th October, 2014 in case of Surana group, Jaipur in which the case of assessee was also covered. In the course of search and seizure action, certain documents were found

SMT. JYOTI AGARWAL,KOTA vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOTA

In the result, appeals of the assessee in ITA nos

50,840/- under clause 1(a) of that section despite the fact that manner of earning of undisclosed income was not disclosed by the assessee. 2. Before us, the ld. A/R of the assessee has submitted that the transaction of purchase and sale of shares which has resulted Long Term Capital Gains are duly recorded in the books of account

SHRI MANOJ MOONDHRA,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, JAIPUR

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

section 271AAB and consequently no penalty is attracted on such disclosure. The A.O. in para 4 on page 2 of the assessment order has mentioned that the total income declared in the ROI for the specified year includes the undisclosed income of Rs. 1,50,00,000/- which represented the undisclosed income. It is not clarified that

SHRI MANOJ MOONDHRA,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, JAIPUR

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

section 271AAB and consequently no penalty is attracted on such disclosure. The A.O. in para 4 on page 2 of the assessment order has mentioned that the total income declared in the ROI for the specified year includes the undisclosed income of Rs. 1,50,00,000/- which represented the undisclosed income. It is not clarified that

SMT RAMA BAJAJ,JAIPUR vs. INCOME TAX OFFICER, WARD-4-2, JAIPUR

In the result, appeal of the assessee is allowed

sections as follows: 9 Smt. Rama Bajaj, Jaipur Vs. ITO, Jaipur S. No. Particulars Amount (In Rs.) Interest to be allowed under Income from 1. Other Sources 2,74,705/- Balance Interest to be allowed under Income 2. from House Property a) Rented House Property- 81,973/- b) SOP House Property- 1,50

SMT. INDIRA AGRAWAL,KOTA vs. DEPUTY COMMISSIONER OF INCOME TAX, KOTA

In the result, appeals of the assessee in ITA No

50,56,420/- which includes surrendered income of Rs. 3,85,39,399/- on account of Long Term Capital Gain. The assessment was completed under section 143(3) read with section 153B of the IT Act on 27.12.2017 at the total income of Rs. 4,52,42,549/- which includes addition of Rs. 43,639/- on account of short declaration

SHRI MUKESH MOONDHRA,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, JAIPUR

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

house property and income from other sources. All other facts recorded are identical and arising from the same search and seizure action dated 26th February, 2014. The only difference is quantum of undisclosed income and consequently the penalty levied under section 271AAB of the Act. The facts, arguments of both parties and findings recorded by the Tribunal in the case

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

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

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

50,000. The appellant has not filed the\ncopy of the seized material during the appellate proceedings. In reply to this\nquestion it was stated by the appellant that a new house was being constructed\nby the appellant at 2/181 Sangram Colony and that it is mentioned in the seized\ndocuments were regarding the construction expenses of such house

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

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