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

2,00,00,000 | Nil | Nil\n| Development of Stones\n| (CDOS)\n| Prior period expenses | 36,73,140 | Nil | Nil\n| CSR expenses | 6,41,42,000 | 6,41,42,000 | 1,41,42,000\n| Deduction u/s 80IA | 15,33,95,189 | Nil | Nil\n| Disallowance u/s

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

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

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI GAGAN GOYAL (Accountant Member)

penalty on you should not be made under section 271(1)© of the Income Tax Act, 1961. If no one attends this office on the said date of hearing, the case shall be decided on the basis of the material available on records. Yours faithfully, 4 ITA NO.309 & 310/JPR/2025 RAJASTHAN STATE INDUSTRIAL DEVELOPMENT & INVESTMENT CORPORATION LTD VS DCIT, CIRCLE

R P WOOD PRODUCTS PRIVATE LIMITED,AJMER vs. DCIT CENTRAL CIRCLE AJMER, JAIPUR ROAD AJMER

In the result, appeal of the assessee is allowed

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

u/s 271 read with section 274 of the Income Tax Act which does not mention the specific default committed by the appellant rendering the appellant liable to penalty under Income Tax Act. 4.2 Ld CIT(A) also erred in law in not quashing the patently illegal penalty order when the final show cause notice issued

SMT. INDIRA AGRAWAL,KOTA vs. DEPUTY COMMISSIONER OF INCOME TAX, KOTA

In the result, appeals of the assessee in ITA No

56,420/- which includes surrendered income of Rs. 3,85,39,399/- on account of Long Term Capital Gain. The assessment was completed under section 143(3) read with section 153B of the IT Act on 27.12.2017 at the total income of Rs. 4,52,42,549/- which includes addition of Rs. 43,639/- on account of short declaration

SHRI ASHOK KUMAR MAHESHWARI,JAIPUR vs. PR. COMMISSIONER OF INCOME TAX, JAIPUR

In the result, appeal of the assessee is allowed

56,404/-. The directions of the Pr. CIT-1 are scanned below: - The perusal of the aforesaid concluding para of the order u/s 263 passed by PCIT-1 reveals the following: - (i) The Ld. Assessing Officer has passed the penalty order without application of mind and applied the wrong provisions/clause of section 271AAB. (ii) The penalty order has been passed

SHRI RAM DAS MAHESHWARI,JAIPUR vs. PRINCIPAL COMMISSIONER OF INCOME TAX, JAIPUR

In the result, appeal of the assessee is allowed

56,404/-. The directions of the Pr. CIT-1 are scanned below: - The perusal of the aforesaid concluding para of the order u/s 263 passed by PCIT-1 reveals the following: - (i) The Learned Assessing Officer has passed the penalty order without application of mind and applied the wrong provisions/clause of section 271AAB. (ii) The penalty order has been passed

RAKESH KUMAR JAIN,JAIPUR vs. DCIT,CIRCLE-2, JAIPUR, JAIPUR

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

Bench: Or At The Time Of Hearing Of The Appeal & / Or Modify Any Of The Above Grounds.

u/s 271(1)(c) could not be imposed. 3.2. In exactly identical circumstances, the Hon'ble Rajasthan High Court in the case of Chandrapal Bagga vs. Income-Tax Appellate Tribunal &Anr. (2003) 261 ITR 67 (Raj) has held- 11 When the assessee has disclosed the transaction which is the basis for capital gains tax and though wrongly claimed exemption from

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

penalty u/s 271(1)(c), it must be proved that the assessee has\nconsciously made the concealment or furnished inaccurate particulars of his\nincome. The said principle has been reiterated in Virtual Soft Systems Ltd. vs.\nCIT (2007) 207 CTR (SC) 733: (2007) 289 ITR 83 (SC) held that:\n“24. Sec.271 of the Act is a penal provision

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

penalty u/s 271(1)(c), it must be proved that the assessee has\nconsciously made the concealment or furnished inaccurate particulars of his\nincome. The said principle has been reiterated in Virtual Soft Systems Ltd. vs.\nCIT (2007) 207 CTR (SC) 733: (2007) 289 ITR 83 (SC) held that:\n“24. Sec.271 of the Act is a penal provision

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

penalty u/s 271(1)(c), it must be proved that the assessee has\nconsciously made the concealment or furnished inaccurate particulars of his\nincome. The said principle has been reiterated in Virtual Soft Systems Ltd. vs.\nCIT (2007) 207 CTR (SC) 733: (2007) 289 ITR 83 (SC) held that:\n“24. Sec.271 of the Act is a penal provision

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

penalty u/s 271(1)(c), it must be proved that the assessee has\nconsciously made the concealment or furnished inaccurate particulars of his\nincome. The said principle has been reiterated in Virtual Soft Systems Ltd. vs.\nCIT (2007) 207 CTR (SC) 733: (2007) 289 ITR 83 (SC) held that:\n“24. Sec.271 of the Act is a penal provision

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

penalty u/s 271(1)(c), it must be proved that the assessee has\nconsciously made the concealment or furnished inaccurate particulars of his\nincome. The said principle has been reiterated in Virtual Soft Systems Ltd. vs.\nCIT (2007) 207 CTR (SC) 733: (2007) 289 ITR 83 (SC) held that:\n“24. Sec.271 of the Act is a penal provision

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

2) Any penalty imposable under sub-section (1) shall be imposed by the Joint\nCommissioner.\nProvided that any penalty under sub-section (1), on or alter the 1st day of April, 2025,\nshall be imposed by the Assessing Officer.\n*275 Bar of limitation for imposing penalties (1) No order imposing a penalty under this\nChapter shall be passed

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

2) Any penalty imposable under sub-section (1) shall be imposed by the Joint\nCommissioner.\nProvided that any penalty under sub-section (1), on or alter the 1st day of April, 2025,\nshall be imposed by the Assessing Officer.\n*275 Bar of limitation for imposing penalties (1) No order imposing a penalty under this\nChapter shall be passed

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

2) Any penalty imposable under sub-section (1) shall be imposed by the Joint\nCommissioner.\nProvided that any penalty under sub-section (1), on or alter the 1st day of April, 2025,\nshall be imposed by the Assessing Officer.\n*275 Bar of limitation for imposing penalties (1) No order imposing a penalty under this\nChapter shall be passed

SHRI AESHWARYA JAIN,KOTA vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOTA

In the result, the appeal of the assessee is allowed

Bench: : Shri Vijay Pal Rao, Jm & Shri Vikram Singh Yadav, Am Vk;Dj Vihy La-@Ita No. 1129/Jp/2019 Fu/Kzkj.K O"Kz@Assessment Year : 2014-15 Cuke Shri Aeshwarya Jain The Dcit Vs. 65, Shopping Centre Central Circle Kota Kota Lfkk;H Ys[Kk La-@Thvkbzvkj La-@ Pan/Gir No.: Abjpj 3114 A Vihykfkhz@Appellant Izr;Fkhz@Respondent Fu/Kzkfjrh Dh Vksj Ls@ Assessee By : Shri S.L. Poddar, Advocate Jktlo Dh Vksj Ls@ Revenue By : Ms.Chanchal Meena, Jcit-Dr Lquokbz Dh Rkjh[K@ Date Of Hearing : 03/01/2020 ?Kks"K.Kk Dh Rkjh[K@ Date Of Pronouncement : 07/01/2020 Vkns'K@ Order Per Vijay Pal Rao, Jm This Appeal By The Assessee Is Directed Against The Order Dated 28-06-2019 Of Ld. Cit(A)-2, Udaipur Arising From Penalty Order Passed U/S 271Aab Of The Act For The Assessment Year 2014-15. The Assessee Has Raised The Following Grounds. ‘’1. Under The Facts & Circumstances Of The Case The Ld. Cit(A) Has Erred In Passing The Order U/S 271Aab Of The I.T. Act, 1961 Which Is Void Ab Inito Deserves To Be Quashed.

56, Rajeev Gandhi Nagar, Kota in the name of assessee's wife Smt. Usha Jain. It is settled proposition of law that penalty u/s 271AAB of the Act is not mandatory in nature but the AO has to take the decision after considering all the facts of the case as well as to ensure 7 Shri Aeshwarya Jain vs DCIT

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

2) Any penalty imposable under sub-section (1) shall be imposed by the Joint\nCommissioner.\nProvided that any penalty under sub-section (1), on or alter the 1st day of April, 2025,\nshall be imposed by the Assessing Officer.\n*275 Bar of limitation for imposing penalties (1) No order imposing a penalty under this\nChapter shall be passed

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

2) Any penalty imposable under sub-section (1) shall be imposed by the Joint\nCommissioner.\nProvided that any penalty under sub-section (1), on or alter the 1st day of April, 2025,\nshall be imposed by the Assessing Officer.\n*275 Bar of limitation for imposing penalties (1) No order imposing a penalty under this\nChapter shall be passed