M/S BARODA RAJASTHAN KSHETRIYA GRAMIN BANK , AJMER vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1, AJMER

In the result, the appeal of the Revenue is dismissed

Bench: The Hon’Ble High Court, Jaipur To Recall/Review Its Order Dated 24.04.2018 Disposing Off The Appeal Of The Revenue Without Going Into The Merits.”

Section 36(1)(viia(a). The purpose for creation of reserve for NPA is same i.e., creating provision towards bad and doubtful debts. In view of the above, we find that the assessment order dated 09.09.2010 is neither erroneous nor prejudicial to the interest of the Revenue. The impugned order of CIT passed u/s. 263 is set aside

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

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

Penalty proceedings u/s 271(1)(c) are initiated for concealment of income by filing inaccurate particulars of income.” 11. Aggrieved from the said addition assessee has marched the appeal before the CIT(A) and the ld. CIT(A) has recorded his findings as under: “8. With respect to this ground I find that already a view is taken

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

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

Penalty proceedings u/s 271(1)(c) are initiated for concealment of income by filing inaccurate particulars of income.” 11. Aggrieved from the said addition assessee has marched the appeal before the CIT(A) and the ld. CIT(A) has recorded his findings as under: “8. With respect to this ground I find that already a view is taken

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

Penalty proceedings u/s 271(1)(c) are initiated for concealment of income by filing inaccurate particulars of income.” 11. Aggrieved from the said addition assessee has marched the appeal before the CIT(A) and the ld. CIT(A) has recorded his findings as under: “8. With respect to this ground I find that already a view is taken

BARODA RAJASTHAN KSHETRIYA GRAMIN BANK,AJMER vs. DEPUTY COMMISSIONER OF INCOME TAX, AJMER

In the result, the appeal of the assessee is partly allowed for Statistical purposes

viia)(a). The purpose for creation of reserve for NPA is same i.e. creating provision towards bad and doubtful debts. In view of the above, we find that the assessment order dated 09-09-2010 is neither erroneous nor prejudicial to the interest of the Revenue. The impugned order of CIT u/s 263 is set aside and the appeal

DCIT, CENTRAL CIRCLE, AJMER vs. M/S SILVERTOSS COMMODITIES PVT. LTD., KOLKATA

The appeals of the revenue stand dismissed and the cross objections of the assessee are partly allowed

u/s 153A r.w.s. 153B/143(3) of the Act vide order dated 30.12.2019 at total income of Rs. 43,88,06,060/- buy making an addition of Rs. 43,88,06,060/- on account of deemed income as per provisions of sec. 56(2)(viia) of the Act to the declared income of the appellant. The assessee objected to the proposed

ITO, KOTA vs. KOTA SAHAKARI BHOOMI VIKAS BANK LTD., KOTA

In the result, the appeal of the Revenue is dismissed

36(1)(viia) of the Act however the same will not amount to furnishing inaccurate particulars of income or concealment of particulars of income attracting the provisions of 3 ITO vs. Kota Sahkari Bhoomi Vikas bank Ltd., Section 271(1)(c) of the Act. The ld. CIT(A) has deleted the penalty by following various decisions of this Tribunal