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.

1-4-2018 : (5) Where the property consisting of any building or land appurtenant thereto is held as stock-in-trade and the property or any part of the property is not let during the whole or any part of the previous year, the annual value of such property or part of the property, for the period

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.

1-4-2018 : (5) Where the property consisting of any building or land appurtenant thereto is held as stock-in-trade and the property or any part of the property is not let during the whole or any part of the previous year, the annual value of such property or part of the property, for the period

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

Appeal is dismissed

Bench: Or At The Time Of Hearing.”

Housing Finance and Leasing Co. Ltd. [2013] 29 taxmann.com 303 (Del.). It would be appropriate here to reproduce the provisions of section 23 of the Act as under: “ Annual value how determined. 23. (i) for the purposes of section 22, the annual value of any property shall be deemed to be- (a) The sum for which the property might reasonably

SHRI MOHAMED MOHTRAM FAROOQUI,JHUNJHUNU vs. ACIT, CIRCLE, JHUNJHUNU

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

9. Being aggrieved, the assessee again carried the matter in appeal before the ld CIT(A). The ld. CIT(A) observed that assessee has not filed voluntarily return of income and Explanation 5 to section 271(1)(c) is also applicable but since the manner in which income is derived is not disclosed, it goes to suggest that assessee intention

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

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

9. Provisions of section 54 and 54F, as applicable in the relevant assessment year, are reproduced below for the ease of discussions: Sec. 54: Profit on sale of property used for residence. 54. 39[(1)] 40[41[Subject to the provisions of sub-section (2), where, in the case of an assessee42 being an individual or a Hindu undivided family

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

In the result, appeal of the assessee is allowed

9 as under:- “8. Even otherwise, without restricting ourselves to the validity of show cause notice, we note that section 271AAB of the Act contemplates imposition of penalty pursuant to the disclosure of undisclosed income in the statement recorded under section 132(4) and, therefore, the levy of penalty under this section does not depend on the addition made during

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

9 of assessment order- “3.8. Further, the assessee has claimed deduction u/s 54F of the IT Act, 1961 on purchase of two flats in the same locality which is also not allowable as per provisions of section 54F of the IT Act, 1961. As per provisions of section 54F, assessee can purchase or construct a new house property within

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)

9), i.e. (a) to (f), case of assessee falls. As is evident from the assessment order, ld.AO initiated the penalty for “misreporting and under reporting of income”. In other words, ld.AO himself was not clear if the case falls under sub section (1) or sub section (8) of section 270A. In fact, in none of the notices issued u/s 270A

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)

9), i.e. (a) to (f), case of assessee falls. As is evident from the assessment order, ld.AO initiated the penalty for “misreporting and under reporting of income”. In other words, ld.AO himself was not clear if the case falls under sub section (1) or sub section (8) of section 270A. In fact, in none of the notices issued u/s 270A

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

In the result, appeals of the assessee in ITA No

9 as under :- “ 4. We have considered the rival submissions as well as relevant material on record. A search was conducted under section 132 of the IT Act on 30th October, 2014 at the premises of the assessee. The assessee in his statement recorded under section 132(4) has disclosed an income of Rs. 10,02,00,000/- in pursuant

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

9 as under :- “ 4. We have considered the rival submissions as well as relevant material on record. A search was conducted under section 132 of the IT Act on 30th October, 2014 at the premises of the assessee. The assessee in his statement recorded under section 132(4) has disclosed an income of Rs. 10,02,00,000/- in pursuant

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

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

9 as under:- “8. Even otherwise, without restricting ourselves to the validity of show cause notice, we note that section 271AAB of the Act contemplates imposition of penalty pursuant to the disclosure of undisclosed income in the statement recorded under section 132(4) and, therefore, the levy of penalty under this section does not depend on the addition made during

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

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

9 as under:- “8. Even otherwise, without restricting ourselves to the validity of show cause notice, we note that section 271AAB of the Act contemplates imposition of penalty pursuant to the disclosure of undisclosed income in the statement recorded under section 132(4) and, therefore, the levy of penalty under this section does not depend on the addition made during

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

In the result, appeal of the assessee is allowed

9, lucknow, the assessee society has paid rent of Rs.3,99,600/- to Ms.\nPriyakanksha Mishra, daughter of Sh. Sangam Mishra, who is the trustee of the assessee\ntrust. The question for consideration is whether the property has been taken on rent for the\npurposes of the assessee trust and secondly, whether rent payment is commensurate with\nthe rent prevailing

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

In the result, appeal of the assessee is allowed and the appeal of the revenue

9 as under :- “ 4. We have considered the rival submissions as well as relevant material on record. A search was conducted under section 132 of the IT Act on 30th October, 2014 at the premises of the assessee. The assessee in his statement recorded under section 132(4) has disclosed an income of Rs. 10,02,00,000/- in pursuant

SHRI AJAY AGARWAL,KOTA vs. DEPUTY COMMISSIONER OF INCOME TAX, KOTA

In the result, appeal of the assessee is allowed and the appeal of the revenue

9 as under :- “ 4. We have considered the rival submissions as well as relevant material on record. A search was conducted under section 132 of the IT Act on 30th October, 2014 at the premises of the assessee. The assessee in his statement recorded under section 132(4) has disclosed an income of Rs. 10,02,00,000/- in pursuant