SH. MAHENDRA KUMAR GOYAL,SIKAR vs. ACIT, CENTRAL CIRCLE-3, JAIPUR, JAIPUR

In the result of the appeal of the assessee are disposed off as under

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI, आंकड़ुठरधारी आइटीएए सं.र@ITA Nos.493, 495 to 498, 500/JP/2025 निर्धारण वर्ष@Assessment Years : 2014-15 to 2016-17, 2018-19 to 2020-21 Mahendra Kumar Goyal चुके Vs. ACIT/DCIT Ward No. 2, Shahpura Road Neem Ka Thana, Sikar Central Circle-03, Jaipur लेखा संख्याल्लेय सं.जीआइआर सं.पान@PAN/GIR No.: ACFPG0306G अपीलार्थी@Appellant प्रत्यार्थी@Respondent निर्धारीती की आर से@ Assessee by : Shri P. C. Parwal, CA राजस्व की आर से@ R

292C, 153A of the Income Tax Act & Indian Evidence Act To Rebut Assessee's Plea Against Additions Based on Seized Documents 1. Jurisdiction under Section 153A • Once a search is conducted under Section 132, the Assessing Officer acquires statutory jurisdiction under Section 153A to assess or reassess

SH. MAHENDRA KUMAR GOYAL,SIKAR vs. ACIT, CENTRAL CIRCLE-3, JAIPUR, JAIPUR

In the result of the appeal of the assessee are disposed off as under

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

292C, 153A of the Income Tax Act & Indian Evidence Act To Rebut Assessee's Plea Against Additions Based on Seized Documents 1. Jurisdiction under Section 153A • Once a search is conducted under Section 132, the Assessing Officer acquires statutory jurisdiction under Section 153A to assess or reassess

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3, INCOME TAX OFFICE vs. SUPREME POLYMERS PRIVATE LIMITED, JAIPUR

In the results the appeal of the

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI, आयकर अपील सं. / ITA No. 189/JP/2025 निर्धारण वर्ष / Assessment Year : 2015-16 DCIT, Central Circle-03, Jaipur बनाम Vs. Supreme Polymers Pvt. Ltd. 137-138, Industrial Area, Jhotwara, Jaipur स्थायी लेखा सं. / जीआईआर सं./PAN/GIR No.: AACCS 5773 P अपीलार्थी / Appellant प्रत्यर्थी / Respondent निर्धारिती की ओर से / Assessee by: Shri Gaurav Nahata, CA राजस्व की ओर से / Revenue by : Mrs. Anita Rinesh, JCIT, Sr. DR सुनवाई की ता

reassess to the completed assessment proceedings. The Hon'ble Gujarat High Court in the case of Saumya Construction reported in 81 taxmann.com 292 has held that there cannot be any addition of regular items shown in the books of accounts until and unless there were certain materials of incriminating nature found during the search. The word incriminating has not been

SH. MAHENDRA KUMAR GOYAL,SIKAR vs. ACIT, CENTRAL CIRCLE-3, JAIPUR, JAIPUR

292C, 153A of the Income Tax Act & Indian\nEvidence Act To Rebut Assessee's Plea Against Additions Based on Seized\nDocuments\n1. Jurisdiction under Section 153A\n• Once a search is conducted under Section 132, the Assessing Officer\nacquires statutory jurisdiction under Section 153A to assess or reassess

SH. MAHENDRA KUMAR GOYAL,SIKAR vs. DCIT, CENTRAL CIRCLE-3, JAIPUR, JAIPUR

292C, 153A of the Income Tax Act & Indian\nEvidence Act To Rebut Assessee's Plea Against Additions Based on Seized\nDocuments\n\n1. Jurisdiction under Section 153A\n• Once a search is conducted under Section 132, the Assessing Officer\nacquires statutory jurisdiction under Section 153A to assess or reassess

SH. GOPAL SINGH SUNDA,SIKAR vs. DCIT, CENTRAL CIRCLE-2, JAIPUR, JAIPUR

section 292C of the\nAct. If the assessee has spent the borrowed money, it could have been\nrecorded by the assessee in the same diary, as all the transactions\nrecorded in the diary are of the unrecorded transactions. Thus, in the\nabsence of any such recording the assumptions and presumption cannot\nvitiated the fact recorded in the said diary which

SH. GOPAL SINGH SUNDA,SIKAR vs. DCIT, CENTRAL CIRCLE-2, JAIPUR, JAIPUR

section 292C of the\nAct. If the assessee has spent the borrowed money, it could have been\nrecorded by the assessee in the same diary, as all the transactions\nrecorded in the diary are of the unrecorded transactions. Thus, in the\nabsence of any such recording the assumptions and presumption cannot\nvitiated the fact recorded in the said diary which

DCIT, JAIPUR vs. SUMS EXIM PVT. LTD., JAIPUR

In the result , ground no. 2 raised by the revenue is dismissed

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

292C. The previsions raise a presumption that the contents of a document found during search proceedings are rue. The presumption can be rebutted." In view of these facts, AO has been asked to carry out necessary enquiry u/s 250(4) of the Act from Tehsildar to established ownership of the plots as mentioned in the Khata/ Khesra

SH. GOPAL SINGH SUNDA,SIKAR vs. DCIT, CENTRAL CIRCLE-2, JAIPUR, JAIPUR

In the result, the seven appeals of the assessee are allowed

section 292C of the\nAct. If the assessee has spent the borrowed money, it could have been\nrecorded by the assessee in the same diary, as all the transactions\nrecorded in the diary are of the unrecorded transactions. Thus, in the\nabsence of any such recording the assumptions and presumption cannot\nvitiated the fact recorded in the said diary which

SH. GOPAL SINGH SUNDA,SIKAR vs. DCIT, CENTRAL CIRCLE-2, JAIPUR, JAIPUR

section 292C of the\nAct. If the assessee has spent the borrowed money, it could have been\nrecorded by the assessee in the same diary, as all the transactions\nrecorded in the diary are of the unrecorded transactions. Thus, in the\nabsence of any such recording the assumptions and presumption cannot\nvitiated the fact recorded in the said diary which

SH. GOPAL SINGH SUNDA ,SIKAR vs. DCIT, CENTRAL CIRCLE-2, JAIPUR, JAIPUR

section 292C of the\nAct. If the assessee has spent the borrowed money, it could have been\nrecorded by the assessee in the same diary, as all the transactions\nrecorded in the diary are of the unrecorded transactions. Thus, in the\nabsence of any such recording the assumptions and presumption cannot\nvitiated the fact recorded in the said diary which

ANSHU SAHAI (HUF),JAIPUR vs. ACIT, CENTRAL CIRCLE, CENTRAL CIRCLE

reassessment, if any, for such assessment year has been \nmade.\nThese amendments have been brought into effect retrospectively from 1st June, \n2003.\"\n(emphasis supplied)\nAs per the CBDT Gircular also, in case of section 163C of the Act, assessments \nof the preceding six years as pending on the date on which books of account or \ndocuments or assets seized

KANTA DEVI JAIN,JAIPUR vs. DCIT, CENTRAL-CIRCLE 1, JAIPUR, JAIPUR

In the result, the appeal of the assessee is allowed

Bench: The Hearing Of The Appeal.”

292C. (1) Where any books of account, other documents, money, bullion, jewellery or other valuable article or thing are or is found in the possession or 7 Kanta Devi Jain vs. DCIT control of any person in the course of a search under section 132 or survey under section 133A, it may, in any proceeding under this Act, be presumed

ROHIT LADIWALA,JAIPUR vs. DCIT, CENTRAL CIRCLE-1, JAIPUR

reassess taking into consideration the other material in\nrespect of completed assessments/unabated assessments. Meaning\nthereby, in respect of completed/unabated assessments, no addition can be\nmade by the AO in absence of any incriminating material found during the\ncourse of search under Section 132 or requisition under Section 132A of the\nAct, 1961."\nEven the Ild. AO has accepted these facts

MACRO PROPRIETIES PRIVATE LIMITED,M 28 INCOME TAX COLONY TONK ROAD JAIPUR vs. DCIT CENTRAL CIRCLE 2, LIC BUILDING JAIPUR

In the result, the appeals of the assessee are allowed

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;djvihy la-@ITA No.174 TO 177/JP/2023 fu/kZkj.ko"kZ@AssessmentYear : 2013-14 TO 2016-17 M/s. Macro Properties Pvt. Ltd.M-28, Income Tax Colony, Tonk Road Jaipur cuke Vs. The DCIT Central Circle-2 LIC Building, Jaipur LFkk;hys[kk la-@thvkbZvkj la-@PAN/GIR No.: AAFCM 3633 D vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksjls@Assesseeby : Shri C.M. Agarwal, CA jktLo dh vksjls@Revenue by: Shri JameshKurian, CI

reassess the income of appellant under the provisions of section 153C of the Income Tax Act. The humble appellant submits that a speaking order ensure that the principles of natural justice are followed by the authority. To give reasons for the decision is a requirement of the principle of natural justice. The order would show which particular circumstances received

OM PRAKASH GUPTA,SAWAI MADHOPUR vs. DCIT CENTRAL CIRCLE -1, JAIPUR

292C is also\napplicable\n\nIn the Internet banking facility of this impugned bank account the mobile number\nof Sh Rachit Aggrwal (son of appellant) had been registered. Further e-mail id\n\"info.omgroup@gmail.com\", is the registered e-mail id of the bank account\nnumber 5111215909 opened in the name of Shri Ram Singh Meena in Kotak\nMahindra Bank, Sardar

KAILASH CHAND MAHESHWARI,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX , JAIPUR

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

section 57 (iii) of the Act. We thus decline to interfere with the action of the Assessing Officer and the First Appellate Authority." The onus is on the appellant to show one-to-one matching and prove that the interest expenditure for the borrowed funds have been used wholly and exclusively only for the purpose of making investments which have

MACRO TOWNSHIP PVT LTD,288-289 MAHAVEER NAGAR DURGAPURA JAIPUR vs. DCIT CC -2 JAIPUR , LIC BUILDING JAIPUR

In the result, the appeals of the assessee are allowed

Bench: HON’BLE SHRI SANDEEP GOSAIN, JM & HON’BLE SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

Section 153C, as settled by the Hon’ble Supreme Court: Satisfaction of the Assessing Officer should be based on cogent material and should not be arrived at in a casual manner. It is submitted that Section 132(4A) (i) clearly stipulates that when inter alia any document is found in the possession or control of any person in the course