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)

gains, assessee claimed cost of acquisition being fair market value as on 1-4- 1981 Assessing Officer held that there was no cost incurred for purchase/acquisition of tenancy rights and accordingly took cost of acquisition at nil Whether case of assessee fell under section 49(1)(iii)(a) and once capital asset in question became property of assessee

JUHI BHANDARI, JAIPUR,JAIPUR vs. DCIT CIRCLE (INTL TAX), JAIPUR, JAIPUR

In the result, both appeals of the assessee are allowed

Gains earned by the assessee was deposited under Capital\nGains Account scheme wherefrom the amount was paid to the builder [PB\n180-183]. The said document was shown to the Assessing Officer during the\ncourse of assessment proceedings. He was satisfied and hence, no adverse\nview was taken.\n21. 5. That further entire addition of Rs.1

DEPUTY COMMISSINER OF INCOME TAX, LIC BUILDING vs. M/S GEE VEE DEVELOPERS PVT. LTD., JAIPUR

In the result, the appeals of the revenue stands dismissed

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

capital asset within the meaning of section 2(14) of the I.T. Act, 1961. Accordingly capital gain tax is leviable on compulsory acquisition of the land. In this connection it is submitted that the above said finding of the ld. AO was based on the enquiries made from the Tehsildar, Sanganer vide his letter dated 14.11.2019 and 15.11.2019 and also

DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-3, JAIPUR vs. M/S CHOKHI DHANI DEVELOPERS PVT. LTD., JAIPUR

In the result, the appeals of the revenue stands dismissed

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

capital asset within the meaning of section 2(14) of the I.T. Act, 1961. Accordingly capital gain tax is leviable on compulsory acquisition of the land. In this connection it is submitted that the above said finding of the ld. AO was based on the enquiries made from the Tehsildar, Sanganer vide his letter dated 14.11.2019 and 15.11.2019 and also

DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-3, JAIPUR vs. M/S RIGID CONDUCTORS (RAJ.) PVT. LTD., JAIPUR

In the result, the appeals of the revenue stands dismissed

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

capital asset within the meaning of section 2(14) of the I.T. Act, 1961. Accordingly capital gain tax is leviable on compulsory acquisition of the land. In this connection it is submitted that the above said finding of the ld. AO was based on the enquiries made from the Tehsildar, Sanganer vide his letter dated 14.11.2019 and 15.11.2019 and also

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3, JAIPUR vs. M/S VISION ESTATES PVT. LTD., JAIPUR

In the result, the appeals of the revenue stands dismissed

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

capital asset within the meaning of section 2(14) of the I.T. Act, 1961. Accordingly capital gain tax is leviable on compulsory acquisition of the land. In this connection it is submitted that the above said finding of the ld. AO was based on the enquiries made from the Tehsildar, Sanganer vide his letter dated 14.11.2019 and 15.11.2019 and also

NIKHIL KHANDELWAL,KOTA vs. ITO WD-2(2), KOTA

In the result, the appeal of the assessee is allowed

Bench: The Hearing.”

gains (whether relating to short-term capital assets or any other capital assets). 4 Nikhil Khandelwal vs. ITO Considering the above facts, it is kindly requested to reassess

INCOME TAX OFFICER, WARD-1-5, JAIPUR vs. SHRI BANWARI LAL SHARMA, JAIPUR

In the result, both the appeals filed by the assessee and Revenue are disposed off in light of aforesaid directions

capital gain has accrued to the assessee, and therefore, he cannot be assessed with an income which has not accrued to him. Accrual or receipt of income is the basis for charging tax on such income by assessee in his individual capacity. In the instant case however, by way of the original assessment order, the assessee was taxed by virtue

SHRI BANWARI LAL SHARMA,JAIPUR vs. INCOME TAX OFFICER, WARD-1-5, JAIPUR

In the result, both the appeals filed by the assessee and Revenue are disposed off in light of aforesaid directions

capital gain has accrued to the assessee, and therefore, he cannot be assessed with an income which has not accrued to him. Accrual or receipt of income is the basis for charging tax on such income by assessee in his individual capacity. In the instant case however, by way of the original assessment order, the assessee was taxed by virtue

RAM SHRAN KATTA, 257, KATTA STREET, JAIN MANDIR WALI GALI, DURGAPURA, JAIPUR,JAIPUR vs. ITO WARD-6(4), JAIPUR

In the result, the appeals of the assessee are allowed

capital gain on sale of plot is in order. AR has not been able to point out\nany defect in the computation. Thus, the addition made by the AO is upheld and the\nground of appeal of assessee is dismissed.\n5. Ground No. 5 general in nature and does not require any adjudication.\n6. In the result, the appeal

RAM SHARAN KATTA, 257, KATTA STREET, JAIN MANDIR WALI GALI, DURGAPURA, JAIPUR,JAIPUR vs. ITO WARD-6(4), JAIPUR, WARD-6(4), JAIPUR

In the result, the appeals of the assessee are allowed

capital gain on sale of plot is in order. AR has not been able to point out\nany defect in the computation. Thus, the addition made by the AO is upheld and the\nground of appeal of assessee is dismissed.\n5. Ground No. 5 general in nature and does not require any adjudication.\n6. In the result, the appeal

DCIT, CENTRAL CIRCLE-2, JAIPUR, JAIPUR vs. KAMLAPRABHA L/H OF LATE SHRI GOPAL LAL JI GOSWAMI, KOTA

In the result, the appeal of the revenue is dismissed and the Cross objection of the assessee is disposed off in terms of the observation made herein above

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

Capital Gain of Rs.3,78,74,469/- (PB5). The Id. AO has discussed the issue of LTCG particularly in para 2 (PB 120). The AO, who finally passed the order dt.31.07.2016 u/s 143(3) of the Act (PB 119-121) by making additions / disallowances of Rs. 25,200/-and Rs. 8,52,531/-. Notably, no variation has been made

DINESSH KUMAR SHARMA,JAIPUR vs. ITO, WARD4(2), JAIPUR

In the result, appeal of the assessee is allowed

reassessment was initiated.\n\n4.5 In the present case, assessment was reopened for the reasons briefly noted above. During the\ncourse of proceedings before learned AO and Hon'ble CIT(A), the appellant argued that no 'long\nterm capital gains

INCOME TAX OFFICE, WARD-6(2), JAIPUR, JAIPUR vs. MEDICAL DESIGNS INDIA PVT. LTD., JAIPUR

capital gain accordingly.\nFrom perusal of above, it is evident that while recording the reason for reopening,\nsatisfaction of escapement of income has been formed that assessee has\npurchased immovable property, source of which remained unverified as no\nReturn of Income was filed. The reassessment

MAZHAR ILAHI SHAMSI,JAIPUR vs. ITO, WARD 1(1), JAIPUR, JAIPUR

In the result, appeal of the Assessee is partly allowed as per the terms indicated above

Bench: Dr. Manish Borad

capital gain‟. All these facts clearly indicate that assessee has not declared the alleged transaction referred in the reasons recorded for issuing the notice u/s. 148 of the Act in its original return of income. Therefore, I find no infirmity in the reasons recorded by the Ld.AO and thus a valid notice u/s. 148 has been issued and valid reassessment

SAJJAD ALI,CHITTORGARH vs. DCIT(INTL)- JAIPUR, JAIPUR

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

gain of Rs. 82,28,577/- in purchase of new residential flat from M/s Nyati Builders purchase of furniture, house hold 12 Sajjad Ali vs DCIT (intl.), Jaipur items, Interior and brokerage etc., however, it is seen that plain reading of provisions of section 2(14) states that furniture and house hold expenses are not part of capital assets, thus

RAM KHILARI MEENA,DAUSA vs. ITO, DAUSA, DAUSA

In the result, the appeal of the assessee is allowed

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

reassessment proceedings, the AO noticed that the assessee had earned capital gains on sale of immovable proper property which had not been

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.

capital gains tax, did not disclose the profits arising on its sale. The case was selected for scrutiny through CASS which was finalized u/s 143(3) of the IT Act. 1961 determining total income Rs. 1,14,75,790/- on 05.12.2016 An addition of Rs 1,14,75,791/-was made on account of LTCG on sale of the impugned