SWASTIC OIL INDUSTIRES,JAIPUR vs. ACIT CIRCLE -7, JAIPUR, JAIPUR

In the result the appeal of the assessee in ITA No

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;dj vihy la-@ITA No. 34 & 35/JP/2023 fu/kZkj.k o"kZ@Assessment Year : 2018-19 & 2019-20 M/s. Swastic Oil Industries F-5-F8, Industrial Area Newai, Tonk 304 021 cuke Vs. The ACIT Circle-7 Jaipur LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: AAJFS 8180 J vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@Assessee by : Shri Devang Gargieya, Adv. jktLo dh vksj ls@Revenue by: Shri A.S. Nehra, Addl. CIT lquokbZ

271 ITR 0132 (Delhi); Kvaverner John Brown Engg. (India) (P.) Ltd. vs. ACIT, [2008] 305 ITR 0103 (Supreme Court). In the present case the addition had been made by way of adjustments, vide intimations issued u/s 143(1) of Income Tax Act on dt. 17.10.2019 However, at that point of time it is undisputed fact on record that this

SWASTIC OIL INDUSTRIES,JAIPUR vs. ACIT CIRCLE -7, JAIPUR, JAIPUR

In the result the appeal of the assessee in ITA No

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;dj vihy la-@ITA No. 34 & 35/JP/2023 fu/kZkj.k o"kZ@Assessment Year : 2018-19 & 2019-20 M/s. Swastic Oil Industries F-5-F8, Industrial Area Newai, Tonk 304 021 cuke Vs. The ACIT Circle-7 Jaipur LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: AAJFS 8180 J vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@Assessee by : Shri Devang Gargieya, Adv. jktLo dh vksj ls@Revenue by: Shri A.S. Nehra, Addl. CIT lquokbZ

271 ITR 0132 (Delhi); Kvaverner John Brown Engg. (India) (P.) Ltd. vs. ACIT, [2008] 305 ITR 0103 (Supreme Court). In the present case the addition had been made by way of adjustments, vide intimations issued u/s 143(1) of Income Tax Act on dt. 17.10.2019 However, at that point of time it is undisputed fact on record that this

LAXMAN NAINANI,KOTA vs. ACIT/DCIT, CENTRAL CIRCLE, JAIPUR

In the result, all the three appeals of the assessee in ITA No

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

271 ITR 0132 (Delhi); Kvaverner John Brown Engg. (India) (P.) Ltd. vs. ACIT, [2008] 305 ITR 0103 (Supreme Court). In the present came the addition had been made by way of injustments, vide intimaticis sound u/s 14301) of tocomeTes Act on dt. 20.07.2020 3. Law of binding precedent: However, at that point of time is undisputed fact on record that

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2, KOTA, KOTA vs. CHAMBAL FERTILIZERS AND CHEMICALS LTD, KOTA

Bench: SHRI GAGAN GOYAL (Accountant Member), SHRI NARINDER KUMAR (Judicial Member)

Va. CIT (288 ITR 1) (since the assessee has failed to prove any commercial expediency for utilizing interest-bearing borrowed funds for making investment in Units of Mutual Funds) as well as in view of the decision of Hon'ble Punjab & Haryana High Court in the case of M/s Abhishek Industries Ltd. (286 ITR 1) (since the funds borrowed from

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2, KOTA, KOTA vs. CHAMBAL FERTILIZERS AND CHEMICALS LTD, KOTA

Bench: SHRI GAGAN GOYAL (Accountant Member), SHRI NARINDER KUMAR (Judicial Member)

Va. CIT (288 ITR 1) (since the assessee has failed to prove any commercial expediency for utilizing interest-bearing borrowed funds for making investment in Units of Mutual Funds) as well as in view of the decision of Hon'ble Punjab & Haryana High Court in the case of M/s Abhishek Industries Ltd. (286 ITR 1) (since the funds borrowed from

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2, KOTA, KOTA vs. CHAMBAL FERTILIZERS AND CHEMICALS LTD., KOTA

Bench: SHRI GAGAN GOYAL (Accountant Member), SHRI NARINDER KUMAR (Judicial Member)

Va. CIT (288 ITR 1) (since the assessee has failed to prove any commercial expediency for utilizing interest-bearing borrowed funds for making investment in Units of Mutual Funds) as well as in view of the decision of Hon'ble Punjab & Haryana High Court in the case of M/s Abhishek Industries Ltd. (286 ITR 1) (since the funds borrowed from

SHREE SIDDHI VINAYAK INDUCTIONS PVT. LTD.,JAIPUR vs. DCIT, CENTRAL CIRCLE-3, JAIPUR

In the result ITA NO. 01/JPR/2021 for A

va): Not pressed. Trading Addition in A.Y. 2015-16: Brief facts pertaining to the grounds of appeal are that the assessee is a private limited company and a survey action u/s 133A was carried out at its factory premises on 17.12.2014. During the course of survey, stock verification was done by survey team and it is alleged that there

SHREE SIDDHI VINAYAK INDUCTION PVT. LTD.,JAIPUR vs. DCIT, JAIPUR

In the result ITA NO. 01/JPR/2021 for A

va): Not pressed. Trading Addition in A.Y. 2015-16: Brief facts pertaining to the grounds of appeal are that the assessee is a private limited company and a survey action u/s 133A was carried out at its factory premises on 17.12.2014. During the course of survey, stock verification was done by survey team and it is alleged that there

M/S SHRI SIDDHI VINAYAK INDUCTION P. LTD.,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3, JAIPUR

In the result ITA NO. 01/JPR/2021 for A

va): Not pressed. Trading Addition in A.Y. 2015-16: Brief facts pertaining to the grounds of appeal are that the assessee is a private limited company and a survey action u/s 133A was carried out at its factory premises on 17.12.2014. During the course of survey, stock verification was done by survey team and it is alleged that there

REKHA SHEKHAWAT,KOTA vs. PR.CIT, UDAIPUR

In the result, the appeal of the assessee is allowed

va Bajargan Traders in ITA No. 258/2017 dated 12.09.2017 (DPB 1-5) has held that when the assessee is dealing in sale of food grains, rice and oil seeds and the excess stock which is found during survey is stock of rice then, it can be said that investment in procurement of such stock of rice is clearly identifiable

M/S RAJASTHAN FORT & PALACE PVT. LTD.,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX , JAIPUR

In the result, the appeals of the asessee are allowed

36(1)(va) of the Act without making any reference to any incriminating material found. Therefore, the disallowance/addition made by the AO for these 3 assessment years completed u/s 153A is undisputedly not based on any incriminating material found or seized during the course M/s Rajasthan Fort & Palace Pvt. Ltd. Vs DCIT of search and seizure action u/s

PROFESSIONAL AUTOMOTIVES PRIVATE LIMITED,JAMMU vs. ASSISTANT COMMISSIONER OF INCOME TAX, JAIPUR

va) of the Income Tax Act, arbitrarily.\n7.1 That, ld.CIT(A) has further erred in confirming the disallowance of\nRs.26,773/- on account of employee’s contribution to PF and ESI, by brushing\naside the fact that employee’s contribution was deposited with a short delay from\nthe dates stipulated under the PF/ESI Act and all the sums were deposited

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2, JAIPUR vs. ZUBERI ENGINEERING COMPANY, JAIPUR

In the result, all the three appeals of the assessee are partly allowed and that of revenue’s cross appeal is dismissed

36(1)(va)/ section 2(24)(x) of the Act without appreciating that said issue is covered in assessee’s favor by jurisdictional high court decisions. Invalid issuance of notice u/s 143(2) on basis of CASS 10. That Ld AO while issuing notice u/s 143(2) on mere basis of CASS has not applied its own mind which

ZUBERI ENGINEERING COMPANY,JAIPUR vs. DCIT, JAIPUR

In the result, all the three appeals of the assessee are partly allowed and that of revenue’s cross appeal is dismissed

36(1)(va)/ section 2(24)(x) of the Act without appreciating that said issue is covered in assessee’s favor by jurisdictional high court decisions. Invalid issuance of notice u/s 143(2) on basis of CASS 10. That Ld AO while issuing notice u/s 143(2) on mere basis of CASS has not applied its own mind which

ZUBERI ENGINEERING COMPANY,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-2, JAIPUR

In the result, all the three appeals of the assessee are partly allowed and that of revenue’s cross appeal is dismissed

36(1)(va)/ section 2(24)(x) of the Act without appreciating that said issue is covered in assessee’s favor by jurisdictional high court decisions. Invalid issuance of notice u/s 143(2) on basis of CASS 10. That Ld AO while issuing notice u/s 143(2) on mere basis of CASS has not applied its own mind which

ZUBERI ENGINEERING COMPANY,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-2, JAIPUR

In the result, all the three appeals of the assessee are partly allowed and that of revenue’s cross appeal is dismissed

36(1)(va)/ section 2(24)(x) of the Act without appreciating that said issue is covered in assessee’s favor by jurisdictional high court decisions. Invalid issuance of notice u/s 143(2) on basis of CASS 10. That Ld AO while issuing notice u/s 143(2) on mere basis of CASS has not applied its own mind which

PROFESSIONAL AUTOMOTIVES PRIVATE LIMITED,JAMMU vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, JAIPUR

In the result the appeal of the assessee in ITA no

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI, आयकर अपील /ITA Nos.809 to 815/JP/2025 निर्धारण वर्ष /Assessment Years :2013-14 to 2019-20 Professional Automotives Pvt. बनाम ACIT, Ltd. Bahu Plaza, Bahu Plaza, Jammu Vs. Central Circle- 1, and Kashmir Jaipur स्थायी लेखा सं./जी.आई.आर. सं./PAN/GIR No.:AAACP9608E अपीलार्थी/Appellant प्र]त्यर्थी/Respondent निर्धारिती की ओर से / Assessee by :Shri Tarun Mittal, CA राजस्व की ओर से /Revenue by: Shri Ajey Malik, CIT (Th. V.C)

36(1)(va) of the Income Tax Act, arbitrarily. 7.1 That, ld.CIT(A) has further erred in confirming the disallowance of Rs.26,773/- on account of employee’s contribution to PF and ESI, by brushing aside the fact that employee’s contribution was deposited with a short delay from the dates stipulated under the PF/ESI Act and all the sums

PROFESSIONAL AUTOMOTIVES PRIVATE LIMITED,JAMMU vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRE CIRCLE -1, JAIPUR

va) of the Income Tax Act, arbitrarily.\n7.1 That, ld.CIT(A) has further erred in confirming the disallowance of\nRs.26,773/- on account of employee’s contribution to PF and ESI, by brushing\naside the fact that employee’s contribution was deposited with a short delay from\nthe dates stipulated under the PF/ESI Act and all the sums were deposited

PROFESSIONAL AUTOMOTIVES PRIVATE LIMITED,JAMMU vs. ASSISSTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1, JAIPUR

271(1)(c) of the Income Tax\nAct, 1961.\n9. That the appellant craves the right to add, delete, amend or abandon any\nof the grounds of appeal either before or at the time of hearing of appeal.\n5. Succinctly, the facts as culled out from the records are thatsearch\nand seizure operations under section 132(1) of the Actwere