M/S RAJASTHAN STATE INDUSTRIAL DEVELOPMENT & INVESTMENT CORPORATION LTD.,JAIPUR vs. DCIT, CIRCLE-6, JAIPUR, JAIPUR

In the result, both the appeals of the assessee are allowed as indicated\nhereinabove

45,844/- u/s 271(1)(c) of I.T. Act. It\nhas further erred in confirming the levy of penalty even on\naddition for which no penalty proceedings was initiated by AO.\n\nITA No. 310/JP/2025 – A.Y. 2014-15\n\n''1. The ld. CIT(A) has erred on facts and in law in not\ndeciding the legal ground of assessee

R P WOOD PRODUCTS PVT LTD ,NAYA BAZAR AJMER vs. DCIT CENTRAL CIRCLE AJMER, JAIPUR ROAD AJMER

In the result, appeal of the assessee is partly allowed and the appeal of the Revenue is dismissed

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

section 271AAB is not satisfied. Apart from the fact that these transactions were duly recorded in the books of account, the assessee has also produced relevant documents, the details of which are as under :— (A) IN RELATION TO SHARES PURCHASE : Summary of shares purchased during the FY 2012-13 (page No. 87 of paper book) Copy of share allotment Advice

DY. COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2, JAIPUR, JAIPUR vs. M/S GOKUL KRIPA COLONIZERS & DEVELOPERS PVT. LTD., JAIPUR

In the result, the appeals of the revenue stands dismissed, and the

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

45,95,550 6,49,33,920 5,03,38,369 1-30 21 M/s Gokul Kripa Colonisers & Developers Pvt. Ltd. 2016-17 27.04.2022 1,68,70,840 5

DY. COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2, JAIPUR, JAIPUR vs. M/S GOKUL KRIPA COLONIZERS & DEVELOPERS PVT. LTD., JAIPUR

In the result, the appeals of the revenue stands dismissed, and the

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

45,95,550 6,49,33,920 5,03,38,369 1-30 21 M/s Gokul Kripa Colonisers & Developers Pvt. Ltd. 2016-17 27.04.2022 1,68,70,840 5

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

Section 139(1) waiting for the correct and\ncomplete information of income to be included, necessitating an upward revision of\nincome. Further had the assessee woke up only after issuance of notice u/s 143(2), he\ncould have filed the revised return immediately but not after a long gap of 5 months i.e.\non 31.03.2011. Undisputedly, the assessee is aged

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

Section 139(1) waiting for the correct and\ncomplete information of income to be included, necessitating an upward revision of\nincome. Further had the assessee woke up only after issuance of notice u/s 143(2), he\ncould have filed the revised return immediately but not after a long gap of 5 months i.e.\non 31.03.2011. Undisputedly, the assessee is aged

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

Section 139(1) waiting for the correct and\ncomplete information of income to be included, necessitating an upward revision of\nincome. Further had the assessee woke up only after issuance of notice u/s 143(2), he\ncould have filed the revised return immediately but not after a long gap of 5 months i.e.\non 31.03.2011. Undisputedly, the assessee is aged

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

Section 139(1) waiting for the correct and\ncomplete information of income to be included, necessitating an upward revision of\nincome. Further had the assessee woke up only after issuance of notice u/s 143(2), he\ncould have filed the revised return immediately but not after a long gap of 5 months i.e.\non 31.03.2011. Undisputedly, the assessee is aged

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

Section 139(1) waiting for the correct and\ncomplete information of income to be included, necessitating an upward revision of\nincome. Further had the assessee woke up only after issuance of notice u/s 143(2), he\ncould have filed the revised return immediately but not after a long gap of 5 months i.e.\non 31.03.2011. Undisputedly, the assessee is aged

DY. COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2, JAIPUR, JAIPUR vs. M/S GOKUL KRIPA COLONIZERS & DEVELOPERS PVT. LTD., JAIPUR

In the result the appeal of the revenue in ITA no

5\nv. JKD Capital & Finlease Ltd. [2017] 81 taxmann.com 80 (Delhi)/[2015] 378 ITR\n614 (Delhi)[13-10-2015] held as under:-\n\"10. Considering that the subject matter of the quantum proceedings was the non-\ncompliance with Section 269T of the Act, there was no need for the appeal against the\nsaid order in the quantum proceedings

DY. COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2, JAIPUR, JAIPUR vs. M/S GOKUL KRIPA COLONIZERS & DEVELOPERS PVT. LTD., JAIPUR

In the result the appeal of the revenue in ITA no

5\nv. JKD Capital & Finlease Ltd. [2017] 81 taxmann.com 80 (Delhi)/[2015] 378 ITR\n614 (Delhi)[13-10-2015] held as under:-\n\"10. Considering that the subject matter of the quantum proceedings was the non-\ncompliance with Section 269T of the Act, there was no need for the appeal against the\nsaid order in the quantum proceedings

VISION JEWELLERS,JAIPUR vs. DCIT, CIRCLE-1, JAIPUR, JAIPUR

In the result the appeal of the assessee is allowed

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

45 taxmann.com 471 (Delhi), in which it has been held that “…Head Notes - Section 271(1)(c), read with sections 40A(3) and 44AD of the Income-tax Act, 1961 - Penalty - For concealment of income (Agreed additions) - Assessment year 2004-05 - Assessee carried on construction business - It had issued large number of bearer cheques to small suppliers of building material

DY. COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2, JAIPUR, JAIPUR vs. M/S GOKUL KRIPA COLONIZERS & DEVELOPERS PVT. LTD., JAIPUR

In the result the appeal of the revenue in ITA no

5\nv. JKD Capital & Finlease Ltd. [2017] 81 taxmann.com 80 (Delhi)/[2015] 378 ITR\n614 (Delhi)[13-10-2015] held as under:-\n\"10. Considering that the subject matter of the quantum proceedings was the non-\ncompliance with Section 269T of the Act, there was no need for the appeal against the\nsaid order in the quantum proceedings

DY. COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2, JAIPUR, JAIPUR vs. M/S GOKUL KRIPA COLONIZERS & DEVELOPERS PVT. LTD., JAIPUR

In the result the appeal of the revenue in ITA no

5\nv. JKD Capital & Finlease Ltd. [2017] 81 taxmann.com 80 (Delhi)/[2015] 378 ITR\n614 (Delhi)[13-10-2015] held as under:-\n\"10. Considering that the subject matter of the quantum proceedings was the non-\ncompliance with Section 269T of the Act, there was no need for the appeal against the\nsaid order in the quantum proceedings

NEEL KANTH GUM AND CHEMICALS ,JHUNJHUNU vs. ACIT, CIRCLE JHUNJHUNU, INCOME TAX OFFICE, JHUNJHUNU

In the result, the appeal of the assesee is allowed

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

section 80IB of I.T. Act but was disallowed by the ld.AO to that extent. On such reduced deduction u/s. 80IB of I.T. Act ld. AO levied penalty of Rs.16,64,000/- u/s. 271(1)(c) of I.T. Act, avoiding the fact that when Assessee had disclosed all the material fact and figures before the ld. AO in respect of deduction

DCIT CENTRAL CIRCLE AJMER, AJMER vs. YASHWANT KUMAR SHARMA, AJMER

In the result, the appeal of the revenue is dismissed and the cross

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;dj vihy la-@ITA No. 210/JP/2023 fu/kZkj.k o"kZ@Assessment Years : 2020-21 DCIT, Central Circle, Ajmer cuke Vs. Yashwant Kumar Sharma F-108, Industrial Area, Makhupura Parbatpura, Ajmer LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: ASWPS 3791 E vihykFkhZ@Appellant izR;FkhZ@Respondent vk;dj vihy la-@C.O. No. 04/JP/2023 (Arising out of ITA Nos. 210/JP/2023) fu/kZkj.k o"kZ@Assessment Years : 2020-21 Yashwant Kumar Sharma

271 are mentioned would not satisfy the requirement of law ; The assessee should know the grounds which he has to meet specifically. Otherwise, the principles of natural justice are offended. On the basis of such proceedings, no penalty could be imposed on the assessee ; ) taking up of penalty proceedings on one limb and finding the assessee guilty of another limb

DY. COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2, JAIPUR, JAIPUR vs. M/S GOKUL KRIPA COLONIZERS & DEVELOPERS PVT. LTD., JAIPUR

In the result the appeal of the revenue in ITA no

5\nv. JKD Capital & Finlease Ltd. [2017] 81 taxmann.com 80 (Delhi)/[2015] 378 ITR\n614 (Delhi)[13-10-2015] held as under:-\n\"10. Considering that the subject matter of the quantum proceedings was the non-\ncompliance with Section 269T of the Act, there was no need for the appeal against the\nsaid order in the quantum proceedings

DY. COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2, JAIPUR, JAIPUR vs. M/S GOKUL KRIPA COLONIZERS & DEVELOPERS PVT. LTD., JAIPUR

penalty proceedings\".\n(b) in a case where the relevant assessment or other order is the subject matter of\nrevision under section 263 or section 264, after the expiry of six months from the end of\nthe month in which such order of revision is passed,\n(c) in any other case, after the expiry of the financial year

DY. COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2, JAIPUR, JAIPUR vs. M/S GOKUL KRIPA COLONIZERS & DEVELOPERS PVT. LTD., JAIPUR

In the result the appeal of the revenue in ITA no

5\nv. JKD Capital & Finlease Ltd. [2017] 81 taxmann.com 80 (Delhi)/[2015] 378 ITR\n614 (Delhi)[13-10-2015] held as under:-\n\"10. Considering that the subject matter of the quantum proceedings was the non-\ncompliance with Section 269T of the Act, there was no need for the appeal against the\nsaid order in the quantum proceedings