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

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

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

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

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

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

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

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

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

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

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: 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

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

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

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

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

FEDERATION OF RAJASTHAN TRADE AND INDUSTRY,JAIPUR vs. ITO-EXEMPTION WARD-2, JAIPUR

In the result, the appeal filed by the assessee is allowed for statistical purposes

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

house property, Profits and gains of business or profession, or Income from other sources and the expression improvement shall be construed accordingly 1(2) 2[For the purposes of sections 48 and 49, cost of acquisition, (b) in relation to any other capital asset. ] (i) where the capital asset became the property of the assessee before the 41st

SMT. IRVIND KAUR GUJRAL,JAIPUR vs. ITO, WARD-1(3), JAIPUR, JAIPUR

In the result, appeal of the assessee is dismissed

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

house properties situated at Australia considering Article 6 of DTAA with Australia. Thus, the assessee was confronted on the issue, the assessee vide reply dated 25.12.2020 submitted that as per section 9 of the Act income arising from any property situated in India shall be deemed to income accrue or arise in India. She further submitted that as Article

JAGDISH KUMAR ARORA,BHAWANIMANDI vs. DCIT, CENTRAL CIRCLE- KOTA, KOTA

In the result, the appeal of the assessee is allowed

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

house property, profits and gains of business or profession, or capital gains, nor is it income from other sources' because the provisions of sections 69, 69A, 69B, and 69C treat unexplained investments. unexplained money, bullion, etc., and unexplained expenditure as deemed income where the nature and source of investment, acquisition or expenditure, as the case may be, have not been