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

70,000/- from house property and after claiming deduction under u/s80C at Rs. 1,00,000/-. 5.2 During the course of assessment proceedings for the assessment year 2012-13 had been completed under section 143(3

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

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

3 Restriction & disallowance of claim u/s 54F of the IT Act, 1961:- During the year under consideration, assessee has sold an immovable property situated at B-2/4, Rajeev Gandhi Ward, Vinay Khand, Gomti Nagar, Lucknow on 06.04.2014 for sale consideration of Rs. 1,69,50,000/- whereas the stamp valuation authority has adopted the value of the property

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

The appeal of the appellant is partly allowed

70,000/- from house property and after claiming deduction under u/s80C at Rs. 1,00,000/-. 5.2 During the course of assessment proceedings for the assessment year 2012-13 had been completed under section 143(3

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

The appeal of the appellant is partly allowed

70,000/- from house property and after claiming deduction under u/s80C at Rs. 1,00,000/-. 5.2 During the course of assessment proceedings for the assessment year 2012-13 had been completed under section 143(3

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1, KOTA vs. M/S SHIV VEGPRO PVT. LTD., KOTA

In the result, appeal of the revenue is dismissed

section 143(3). Subsequently the AO has proposed to assess the income being notional rent in respect of the closing stock in the commercial complex, namely, Silver Square. The said space which was to be assessed as Income from House Property is at 4th Floor of the said commercial complex. The AO has recorded identical reasons for all the three

INCOME TAX OFFICER, WARD-3-2, JAIPUR vs. SILVER SAND BUILDERS PVT. LTD., JAIPUR

In the result, all the three appeals of the revenue are dismissed

section 143(3). Subsequently the AO has proposed to assess the income being notional rent in respect of the closing stock in the commercial complex, namely, Silver Square. The said space which was to be assessed as Income from House Property is at 4th Floor of the said commercial complex. The AO has recorded identical reasons for all the three

INCOME TAX OFFICER, WARD-3-2, JAIPUR vs. SILVER SAND BUILDERS PVT. LTD., JAIPUR

In the result, all the three appeals of the revenue are dismissed

section 143(3). Subsequently the AO has proposed to assess the income being notional rent in respect of the closing stock in the commercial complex, namely, Silver Square. The said space which was to be assessed as Income from House Property is at 4th Floor of the said commercial complex. The AO has recorded identical reasons for all the three

INCOME TAX OFFICER, WARD-3-2, JAIPUR vs. SILVER SAND BUILDERS PVT. LTD., JAIPUR

In the result, all the three appeals of the revenue are dismissed

section 143(3). Subsequently the AO has proposed to assess the income being notional rent in respect of the closing stock in the commercial complex, namely, Silver Square. The said space which was to be assessed as Income from House Property is at 4th Floor of the said commercial complex. The AO has recorded identical reasons for all the three

ST. WILFRED EDUCATIONAL SOCIETY,JAIPUR vs. PRINCIPAL COMMISSIONER OF INCOME TAX (CENTRAL) RAJASTHAN, JAIPUR

3) of the Act. Further, it was held that it is against the objects of the society / trust, as it is diversion of funds. Further, booking of “Land” as asset in the books of the assessee society for which the assessee has no legal ownership shows that Balance Sheet does not reflect true & fair picture of the assets

ST. WILFRED EDUCATIONAL SOCIETY,JAIPUR vs. PRINCIPAL COMMISSIONER OF INCOME TAX (CENTRAL) RAJASTHAN, JAIPUR

3) of the Act. Further, it was held that it is against the objects of the society / trust, as it is diversion of funds. Further, booking of “Land” as asset in the books of the assessee society for which the assessee has no legal ownership shows that Balance Sheet does not reflect true & fair picture of the assets

ANUJ MATHUR,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, JAIPUR

In the result, appeal of the assessee is allowed

Bench: Or At The Time Of Hearing.”

70,10,000/- u/s 271AAB of the Income Tax Act, 1961. 3. The assessee craves your indulgence to add, amend or alter all or any grounds of appeal before or at the time of hearing.” 2. The assessee is an Individual and derives income during the year under consideration from salary, house property and other sources. A search under section

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

In the result, appeal of the assessee is allowed

70,20,000/- imposed by the ld. Assessing Officer u/s 271AAB of the IT Act, 1961. 3. That the appellant craves the permission to add to or amend to any of the above grounds of appeal or to withdraw any of them.” Ground No. 1 is regarding validity of initiation of penalty proceedings under section 271AAB

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

3) or sub-section (3A) shall not apply in relation to any income of a trust or an institution, being profits and gains of business, unless the business is incidental to the attainment of the objectives of the trust or, as the case may be, institution, and separate books of account are maintained by such trust or institution in respect

M/S. VAIBHAV GLOBAL (GEMS) LTD.,JAIPUR vs. ACIT, CIRCLE-5, JAIPUR

In the result, appeals for the A

section 143(3). Subsequently the AO has proposed to assess the income being notional rent in respect of the closing stock in the commercial complex, namely, Silver Square. The said space which was to be assessed as Income from House Property is at 4th Floor of the said commercial complex. The AO has recorded identical reasons for all the three

M/S. VAIBHAV GLOBAL (GEMS) LTD.,JAIPUR vs. ACIT, CIRCLE-5, JAIPUR

In the result, appeals for the A

section 143(3). Subsequently the AO has proposed to assess the income being notional rent in respect of the closing stock in the commercial complex, namely, Silver Square. The said space which was to be assessed as Income from House Property is at 4th Floor of the said commercial complex. The AO has recorded identical reasons for all the three

M/S. VAIBHAV GLOBAL (GEMS) LTD.,JAIPUR vs. ACIT, CIRCLE-5, JAIPUR

In the result, appeals for the A

section 143(3). Subsequently the AO has proposed to assess the income being notional rent in respect of the closing stock in the commercial complex, namely, Silver Square. The said space which was to be assessed as Income from House Property is at 4th Floor of the said commercial complex. The AO has recorded identical reasons for all the three

PEEYUSH AGARWAL,JAIPUR, RAJASTHAN vs. ITO, WARD 1(5), JAIPUR, JAIPUR, RAJASTHAN

In the result Ground and 1 and 2 raised by the assessee are allowed

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

section 68 of the 51 Peeyush Agarwal, Jaipur. Act that will amount to double taxation once as sales and again as unexplained cash credit which is against the principles of taxation. Assessee was having only one source of income from trading in beedi, tea power and pan masala and therefore provisions of section 115BBE of the Act will have