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

70,000/- from house property and after claiming\ndeduction under u/s80C at Rs. 1,00,000/-.\n5.2 During the course of assessment proceedings for the assessment\nyear 2012-13 had been completed under section 143(3

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

70,000/- from house property and after claiming\ndeduction under u/s80C at Rs. 1,00,000/-.\n5.2 During the course of assessment proceedings for the assessment\nyear 2012-13 had been completed under section 143(3

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

70,000/- from house property and after claiming\ndeduction under u/s80C at Rs. 1,00,000/-.\n5.2 During the course of assessment proceedings for the assessment\nyear 2012-13 had been completed under section 143(3

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

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

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

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\nrelation to any income of a trust or an institution, being profits and gains of\nbusiness, unless the business is incidental to the attainment of the objectives of\nthe trust or, as the case may be, institution, and separate books of account are\nmaintained by such trust or institution in respect

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

In the result, the appeals of the assessee in ITA no

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

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

SUWALKA AND SUWALKA PROPERTIES AND BUILDERS PVT LTD,KOTA, RAJASTHAN vs. ACIT, CENTRAL CIRLCE, KOTA, KOTA, RAJASTHAN

Bench: Him Challenging The 2 Suwalka & Suwalka Properties & Builders Pvt. Ltd. Vs. Acit Assessment Order Dated 22.12.2019 Passed U/S.143(3)Of The Income Tax

70,000/-. Above expenses in P & L account are not satisfactorily explained and assesseefailed to submit supporting documents like bill- vouchers to substantiate his claim. Employee register and wages register were not produced for examination. Further day to day stock register has not been produced for examination. Certain expenses are paid in cash mode and 4 Suwalka and Suwalka Properties

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 JAIN,JAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-3, JAIPUR

In the result, the appeal of the assessee is allowed

house] (hereafter in this section referred to as the new asset), the capital gain shall be dealt with in accordance with the following provisions of this section, that is to say,— 3 ITA159/JP/2019 Shri Naresh Jain vs ACIT, Circle-3, Jaipur (a) if the cost of the new asset is not less than the net consideration in respect

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)

house including electricity bills of the house.Family members had been appointed to important posts. Property was also purchased in chairman's name out of trust funds. Thus, there was clear finding of AO in respect of misappropriation and mis-utilization of trust funds. Further, the documentary evidence would clearly go to show that the receipts which are in the name

BALAJI JEWELLERS ,JAIPUR vs. ACIT CC -4, JAIPUR

In the result, the appeal of the assessee is allowed

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

Properties Pvt Ltd. Reported on [2019] 111 taxmann.com 94 (Bombay) has held; “11.We note that the books of accounts of the Respondent were rejected by the CIT (A) under section 145(3) of the Act. However, the Tribunal found in the impugned order that the invocation of section 145(3) of the Act is unjustified as no defect was noted

DCIT, CC-2, JAIPUR vs. SHRI JITENDRA KUMAR AGARWAL, JAIPUR

In the result, based on the discussion so recorded here in above both

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

3,53,826/- Shri Jitendra Kumar Agarwal vs. DCIT 2016-17 59-60 1,84,14,307/- It is submitted that ld. CIT(A) after thorough analysis of such working has granted relief on this issue, appellant prays such action of ld.CIT(A) deserves to be upheld. Issue: Purchases considered as unaccounted sales: It is submitted that

SHRI JITENDRA KUMAR AGARWAL,JAIPUR vs. DCIT, CENTRAL CIRCLE-2, JAIPUR

In the result, based on the discussion so recorded here in above both

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

3,53,826/- Shri Jitendra Kumar Agarwal vs. DCIT 2016-17 59-60 1,84,14,307/- It is submitted that ld. CIT(A) after thorough analysis of such working has granted relief on this issue, appellant prays such action of ld.CIT(A) deserves to be upheld. Issue: Purchases considered as unaccounted sales: It is submitted that