LATE SH. BIRDI CHAND THROUGH LEGAL HEIR MUKESH SHARMA ,JAIPUR vs. ITO, WARD-7(2), JAIPUR, JAIPUR

In the result, the appeal of the assessee is allowed

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

section 54/54F, hence, the investment made u/s 54 of Rs. 1,01,01,010/- was rightly disallowed. 18. To summarize, the appellant's share of land sold at Rs.2,75,77,251/- on which capital gain was not disclosed as per Act despite it being a capital asset u/s 2(14) of the Act as the property was situated within

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)

reassessment under sections 147/148 of the Act has to be saved, otherwise the Revenue would be left without remedy." The material on record has been considered. The satisfaction note does not refer to incriminating seized material from search on other person which would be having a bearing on the determination of total income of the appellant. The addition made

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

MOHAMMED SIRAJ,JHUNJHUNU vs. ITO, WARD-1, JHUNJHUNU, JHUNJHUNU

In the result, the appeal of the assesee is allowed for statistical purposes

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

reassessment not assessment. 2. That the AO has erred on facts and in law by invoking the Section 154 for rectification of mistake apparent on record as the issue involved are not covered under mistake apparent on record under the scope of 154 of the Act. Kindly quash the rectification order u/s 154 or delete the addition. 3.1 Brief facts

SUCHITA BHATIA,JAIPUR vs. DCIT CIR-6, JAIPUR, JAIPUR

In the result, this appeal of the assessee is allowed

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

reassessment proceedings initiated by AO which was under challenge before this Tribunal. The new legal plea does not require investigation into factual aspects before either accepting or rejecting the contentions. The appellant submits that the additional ground is purely legal in character and goes to the root of the matter; and therefore, the same may be admitted for adjudication

JAI DEEP SINGH,JAIPUR vs. INCOME TAX OFFICER, WARD-7-2, JAIPUR

In the result, the appeal of the assessee is allowed

reassessment proceedings has been initiated on mere change of opinion is incorrect as mere production of books of accounts or other evidence from which the AO could have with due diligence discovered the material evidence does not necessarily amount to disclosure within meaning of proviso to section 147 of the Act. (f) AO has issued notice