SHRI KRISHNARAJ BUILDHOME PVT LTD,JAIPUR vs. INCOME TAX OFFICER, JAIPUR

50C(2) of the Income Tax Act, 1961. Without referring the matter to\nValuation and without bringing any material on record to establish that the\nassessee had received amount other than the sale consideration as per the\nsale deed, the Learned Assessing Officer proceeded to make the impugned\naddition of Rs. 1,26,87,868/-. The aforesaid decisions rendered

SHRI SATISH CHANDRA KATTA,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, JAIPUR

50C(2) - Held, yes..”\n22. As per explanation (iia) to section 153B of the Income Tax Act, 1961, in computing the\nperiod of limitation of assessment u/s 153A the following period shall be excluded:\n“The period commencing from the date on which the Assessing Officer makes a reference to\nthe Valuation Officer under sub-section (1) of section 142A

SIYARAM EXPORTS INDIA PVT. LTD.,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, JAIPUR

50C(2) - Whether it was incumbent upon Assessing\nOfficer to refer matter for valuation to a Valuation\nOfficer as provided in section\n50C(2) - Held, yes..\"\n\n22. As per explanation (iia) to section 153B of the Income Tax Act, 1961, in computing the\nperiod of limitation of assessment u/s 153A the following period shall be excluded

SIYARAM EXPORTS INDIA PRIVATE LIMITED,JAIPUR vs. ITO WARD 6(4), JAIPUR, JAIPUR

50C(2) - Whether it was incumbent upon Assessing\nOfficer to refer matter for valuation to a Valuation Officer as provided in section\n50C(2) - Held, yes..”\n22. As per explanation (iia) to section 153B of the Income Tax Act, 1961, in computing the\nperiod of limitation of assessment u/s 153A the following period shall be excluded:\n“The period commencing

SIYARAM EXPORTS INDIA PRIVATE LIMITED,JAIPUR vs. ITO WARD 6(4), JAIPUR, JAIPUR

50C(2) - Whether it was incumbent upon Assessing\nOfficer to refer matter for valuation to a Valuation Officer as provided in section\n50C(2) - Held, yes..\"\n\n22. As per explanation (iia) to section 153B of the Income Tax Act, 1961, in computing the\nperiod of limitation of assessment u/s 153A the following period shall be excluded

SHRI SATISH CHANDRA KATTA,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, JAIPUR

50C(2) - Whether it was incumbent upon Assessing\nOfficer to refer matter for valuation to a Valuation Officer as provided in section\n50C(2) - Held, yes..”\n22. As per explanation (iia) to section 153B of the Income Tax Act, 1961, in computing the\nperiod of limitation of assessment u/s 153A the following period shall be excluded:\n“The period commencing

SHRI SATISH CHANDRA KATTA,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, JAIPUR

50C(2) - Whether it was incumbent upon Assessing\nOfficer to refer matter for valuation to a Valuation Officer as provided in section\n50C(2) - Held, yes..”\n22. As per explanation (iia) to section 153B of the Income Tax Act, 1961, in computing the\nperiod of limitation of assessment u/s 153A the following period shall be excluded:\n“The period commencing

INCOME TAX OFFICER, WARD-1(2), JAIPUR, JAIPUR vs. MUKESH KUMAR SONI, JAIPUR

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

Bench: Moving Towards The Facts Of The Case We Would Like To Mention

reassess the income in respect of any issue which has escaped assessment and which come to his notice subsequently in the course of the proceedings under the section o) Oriental Bank of Commerce v Ad.CIT [2014] 90 CCH 27 Del HC p) Mumtaz Haji Mohmad Memom v ITO Special Civil Application No.21030 of 2017 – Guj HC The Assessing Officer

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

reassess the income of the other person in accordance with the\nprovisions of section 153A, if, that Assessing Officer is satisfied that the books of account\nor documents or assets seized or requisitioned have a bearing on the determination of the\ntotal income of such other person.”\n2.3.\nSection 153C of the Act makes it mandatory for AO of searched

SUVA LAL PAHARIA,JAIPUR vs. ITO WARD 6(3), JAIPUR

Reassessment-Issuance of notice under section 148 after proceedings under Section\n148A (d)-Writ petition seeks to assail correctness and validity of order passed by\nrespondent, whereby, after initiating proceedings under Section 148A (d) on formation of\nan opinion that income chargeable to tax has escaped assessment, authority proceeded to\nissue notice under Section 148-Respondent issued notice under clause

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

reassess the income of the other person in accordance with the\nprovisions of section 153A, if, that Assessing Officer is satisfied that the books of account\nor documents or assets seized or requisitioned have a bearing on the determination of the\ntotal income of such other person.”\n2.3.\nSection 153C of the Act makes it mandatory for AO of searched

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

50C(1) of the LT. Act. 1961, arbitrarily, thus the value so adopted deserves to be hold bad in law. Ground No. 4: On facts and in circumstances of the matter, the Ld. AO erred in making addition of Rs. 3,68,874/- u/s 69 on account of alleged investment in property, arbitrarily. Thus the addition so made deserve

JAIPRAKASH YADAV,ALWAR vs. INCOME TAX OFFICER, WD, BEHROR, BEHROR

In the result, the appeal of the assessee is allowed

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

section 147, of the Income-tax Act, 1961 - Cash credit (Accommodation entry) Assessment vear 2008-09 Information was received from investigation wing that assessee-company was a beneficiary of accommodation entries received from certain established entry operators During investigation, it was found that entry operators were engaged in money laundering business for beneficiaries - According to Assessing Officer, sources of transactions

OM PRAKASH AGRAWAL HUF,JAIPUR vs. ITO WARD 5(1), JAIUPR, JAIPUR

section 50C of the Act would\napply, of course, subject to the riders contained therein. However, this is\nnot the cited reason for reopening the assessment. The reasons cited\nare that the assessee filed no return and that 1/3rd share of the\nassessee from the actual sale consideration of Rs. 1,18,95,000/-\ntherefore, was not brought

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)

50C(1) of the LT. Act. 1961, arbitrarily, thus the value so adopted deserves to be hold bad in law. Ground No. 4: On facts and in circumstances of the matter, the Ld. AO erred in making addition of Rs. 15,00,000/- u/s 68 by treating the loan taken from M/s. Gemini Commerce Pvt. Ltd. as accommodation entry arbitrarily

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)

50C(1) of the LT. Act. 1961, arbitrarily, thus the value so adopted deserves to be hold bad in law. Ground No. 4: On facts and in circumstances of the matter, the Ld. AO erred in making addition of Rs. 15,00,000/- u/s 68 by treating the loan taken from M/s. Gemini Commerce Pvt. Ltd. as accommodation entry arbitrarily

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)

50C(1) of the LT. Act. 1961, arbitrarily, thus the value so adopted deserves to be hold bad in law. Ground No. 4: On facts and in circumstances of the matter, the Ld. AO erred in making addition of Rs. 15,00,000/- u/s 68 by treating the loan taken from M/s. Gemini Commerce Pvt. Ltd. as accommodation entry arbitrarily

RAMA SHANKER PAREEK,JAIPUR vs. INCOME TAX OFFICER, WARD NO. 7(2), JAIPUR

In the result, appeal of the assessee is allowed

1)(a), I am of the considered view that it would be proper\nto set aside the assessment and refer the case back to the Assessing Officer for\nmaking a fresh assessment. Accordingly, I set aside the assessment and refer the\ncase back to the Assessing Officer for making a fresh assessment. The AO is\nfurther directed to provide sufficient