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

house property. While responding (vide letter dated 18.03.2018 PB 3), to the surprise of the assessee, it came to his notice that some mistakes have been committed inadvertently in as much as deductions even though not applicable, could be claimed therein. Therefore, the assessee in all truthfulness and simplicity, straightforwardly and voluntarily admitted that some deductions could be wrongly claimed

SH. SANJAY BAIRATHI ,JAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, JAIPUR

In the result, grounds taken by Revenue are dismissed

house property. D.—Profits and gains of business or profession. E.—Capital gains. F.—Income from other sources. c) Chapter V deals with inclusion in the total income of an assessee, income of other persons and Chapter VI deals with aggregation of the total income and set off or carry forward of losses

NIKHIL KHANDELWAL,KOTA vs. ITO WD-2(2), KOTA

In the result, the appeal of the assessee is allowed

Bench: The Hearing.”

property" is a loss and the assessee has income assessable under any other head of income, the assessee shall not be entitled to set off such loss, to the extent the amount of the loss exceeds two lakh rupees, against income under the other head. (4) Where the net result of the computation under the head "Income from house

CENTRAL CIRCLE-1, JAIPUR vs. LATE SHRI SATISH KUMAR AGARWAL, L/H SMT. SANTOSH AGARWAL, JAIPUR

In the result, appeal of the Revenue is partly allowed for statistical purposes

House property Rs. 31,780/- as discussed in para no. 6 Add : Disallowance u/s 14A as discussed in para Rs. 73,332/- no. 7 Add : Disallowance u/s 80G as discussed in para Rs. 2,685/- no. 8 Add : Addition of unexplained Cash found Rs. 32,69,455/- during search as discussed in para no. 9. Add : Addition of on account

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

house property is 1/2nd . 3.10. Based on the above discussed facts, working of Long term capital gain & deduction claimed u/s 54F is being recomputed as under:- Full value of consideration as shown by 17000206 assessee in his ITR Less: Indexed cost of acquisition & 3184911 construction Net long term capital gain 13815295 Deduction u/s 54F of the IT Acrt,1961 (LTCG

VIKRAM PUROHIT,JAIPUR vs. ITO, WARD-7(3), JAIPUR

In the result, the appeal of the assessee is allowed with no orders as to costs

Bench: SHRI SANDEEP GOSAIN (Judicial Member)

set off loss from House property (Interest paid u/s 24b in case of SOP) of Rs.1,50,000/- which was appearing

SHRI RAJESH CHACHWANI,JAIPUR vs. INCOME TAX OFFICER, WARD-6-4, JAIPUR

In the result, the appeal of the assessee is dismissed

set off against the loss claimed by the appellant. Kim Pharma (P) Ltd. vs. CIT, (2013) 35 Taxmann.com 456 (Punjab & Haryana) 6. The Tribunal had relied upon a decision of the Gujarat High Court in Fakir Mohmed Haji Hasan v. CIT [2001] 247 ITR 290/[2002] 120 Taxman 11. In that case, interpreting the scope and describing the scheme

SAVITRI LEASING FINANCE LTD,JAIPUR vs. INCOME TAX OFFICER, WARD - 4(2), JAIPUR, JAIPUR

In the result, the appeal of the assesee is allowed

Bench: SHRI SANDEEP GOSAIN (Judicial Member), DR MITHA LAL MEENA (Accountant Member)

house property or against income from business and profession. Copy audit report, profit and loss account and supportings disclosing income of Rs. 50,39,709/- are available along with audited accounts. It is further noted that in 13 SAVITRI LEASING FINANCE LTD VS ITO, WARD 4(2), JAIPUR the audited accounts, the assessee had claimed depreciation as per Companies

WEALTHY SKY DEVELOPMENT PRIVATE LIMITED,JAIPUR vs. PR.CIT-1, JAIPUR

In the result, the appeal of the assessee is allowed

set off losses in future amounting to Rs. 74,43,978/- against the revenue from operations amounting to Rs. 1,82,62,775/- which is allowed by the ld. AO in the order passed u/s 143(3). As per the ld. PCIT Jaipur-1, the AO should not have allowed losses in futures u/s. 73(4) because the main business

SHRI MANOHAR LAL CHOUDHARY,JAIPUR vs. ACIT, CIRCLE-6, JAIPUR

In the result, the ground of appeal is allowed for statistical purposes

Loss account filed therewith for these years 5 Sh. Manohar Lal Chaudhary, Jaipur Vs. Dy. CIT, Circle-06, Jaipur Thus Accepting the Construction but taking cost thereof at Zero Rupee is a very harsh decision of the learned Assessing officer for a detrimental interest of the assessee. There cannot be a magic of construction without a cost thereof. Disbelief

ASSISTANT COMMISSIONER OF INCOME TAX, JAIPUR vs. U R INVESTMENTS, JAIPUR

15. In view of the above discussion, finding no illegality or irregularity in the impugned order, present appeal by the Department challenging the impugned order deserves to be dismissed

Bench: SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member), SHRI NARINDER KUMAR (Judicial Member)

house properties, the assessee claimed set of brought forward loss to the tune of Rs. 8,19,528/-. Grievance of the assessee

GANESH CHAWLA,JAIPUR vs. ACIT, JAIPUR

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

Bench: Or At The Time Of Hearing.” Sh. Genesh Chawla Vs. Acit

loss of the revenue to the Government. Merely change of opinion will not give anyright u/s 263 hence, the issue regarding Sec. 263 is required to be answered in favour of the assessee and against the department. 7.2 On the ground of investment made by the assessee in the name of his wife, in view of the decision of Delhi

NIRMAL KUMAR DUGAR , JAIPUR vs. INCOME TAX OFFICER WARD 2(1) JAIPUR , JAIPUR

Appeal is allowed

Bench: This Appellate Tribunal.

loss and found to have been set off from 4 Nirmal Kumar Dugar, Jaipur the income earned from house property

M/S G.D. TAMBI & SONS,JAIPUR vs. ACIT, CIRCLE-3, JAIPUR, JAIPUR

In the results, the appeal of the assessee in ITA no

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

loss of Rs. 8,41,260/- which in turn has been set off against the income from house property. Thus

M/S G.D. TAMBI & SONS,JAIPUR vs. ACIT, CIRCLE-3, JAIPUR, JAIPUR

In the results, the appeal of the assessee in ITA no

Bench: moving towards the facts of the case we would like to mention that the assessee has assailed the appeal for assessment year 2015-16 in

loss of Rs. 8,41,260/- which in turn has been set off against the income from house property. Thus

BITTHAL DAS PARWAL,JAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3 , JAIPUR

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

Bench: Him. 2. In This Appeal, The Assessee Has Raised The Following Grounds: -

set off the loss of LTCG of Rs.3.18,558 brought forward from earlier years. The Ld. A.O. thereafter took up penalty proceedings and held that assessee has declared additional income from long term capital gain of Rs.6,19,338 and adjusted the BF loss of Rs.3,18,558 from said LTCG in return of income filed u/s 153A

URBAN IMPROVEMENT TRUST (NOW KOTA DEVELOPMENT AUTHORITY),KOTA vs. DCIT (EXEMPTIONS), CIRCLE, JAIPUR, JAIPUR

In the result, the assessee’s income is found to be not chargeable under the Income Tax Act at all and the AO is directed to delete the additions made, irrespective of the head of income

Bench: Dr. S. Seethalakshmi & Shri Gagan Goyalacit, Exemption, Circle, Jaipur ...... Appellant Vs.

house property’. 6. Under the facts and circumstances of the case and in law, the Ld. CIT(A) has erred in not allowing various expenditure incurred by Appellant Trust in entirety. 7. Under the facts and circumstances of the case and in law, the Ld. CIT(A) has erred in not allowing the set off of losses

ACIT, EXEMPTIONS, CIRCLE , JAIPUR, JAIPUR vs. URBAN IMPROVEMENT TRUST, KOTA

In the result, the assessee’s income is found to be not chargeable under the Income Tax Act at all and the AO is directed to delete the additions made, irrespective of the head of income

Bench: Dr. S. Seethalakshmi & Shri Gagan Goyalacit, Exemption, Circle, Jaipur ...... Appellant Vs.

house property’. 6. Under the facts and circumstances of the case and in law, the Ld. CIT(A) has erred in not allowing various expenditure incurred by Appellant Trust in entirety. 7. Under the facts and circumstances of the case and in law, the Ld. CIT(A) has erred in not allowing the set off of losses