SHRI RAJESH CHACHWANI,JAIPUR vs. INCOME TAX OFFICER, WARD-6-4, JAIPUR

In the result, the appeal of the assessee is dismissed

business loss against the said income. The authorities below have failed to appreciate the provisions of section 56 of the Act and also the provisions of section 115BBE(2) of the Act. Once the assessee has surrendered the income as income from other sources, then the same cannot be treated as unexplained cash credit under section 68

SILVER WINGS LIFE SPACES,KOTA vs. DCIT CIRCLE-1 KOTA, KOTA

In the result, the appeal of the assessee is allowed

Bench: Learned Cit(A), Which Appeal Was Filed By The Assessee

68 not applies when assessee explained nature & source of Income. Hence, when all the incomes earned by the assessee/ assets in the possession of the assessee are only from the business income of the assessee, there do not arise any question as to application of provisions of section

MUKESH KUMAR AHUJA,KOTA vs. ACIT, CENTRAL CIRCLE, KOTA

In the result, this appeal of the assessee is allowed

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

business income, which is arbitrary and unjustified. 3. That the Ld. Commissioner of Income Tax (Appeals) has further erred in law as well as on facts in upholding the charging of tax @ 60% applying the provisions of Section 115BBE which are not applicable in the facts of the case and as such the order is arbitrary and unjustified

JAGDISH KUMAR ARORA,BHAWANIMANDI vs. DCIT, CENTRAL CIRCLE- KOTA, KOTA

In the result, the appeal of the assessee is allowed

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

68 not applies when assessee explained nature & source of Income. Hence, when all the incomes earned by the assessee/ assets in the possession of the assessee are only from the business income of the assessee, there do not arise any question as to application of provisions of section

SADHWANI WOOD PRODUCT PRIVATE LIMITED ,KOTA vs. PRINCIPAL COMMISSIONER OF INCOME TAX CENTRAL JAIPUR , JAIPUR

68 of credit entry and u/s 69 of excess stock - appellant contended that surrendered amount represents the \"business income\" as the appellant has no other source of income. Whether deeming provisions of Section

SH. SANJAY BAIRATHI ,JAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, JAIPUR

In the result, grounds taken by Revenue are dismissed

business loss will be allowable. The provisions of section 115BBE reads as under:- (1) “Where the total income of an assessee includes any income referred to in section 68

SUWALKA AND SUWALKA PROPERTIES AND BUILDERS PVT LTD,KOTA, RAJASTHAN vs. ACIT, CENTRAL CIRLCE, KOTA, KOTA, RAJASTHAN

Bench: Him Challenging The 2 Suwalka & Suwalka Properties & Builders Pvt. Ltd. Vs. Acit Assessment Order Dated 22.12.2019 Passed U/S.143(3)Of The Income Tax

business income. B) Regarding application of section 68 by CIT(A) we submit as under:- i) Section 68 was not applied

PRANATI BUILDCON, KOTA,KOTA vs. ACIT/DCIT CEN CIR ,KOTA, KOTA

In the result, the appeal of the assessee is allowed

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

business or profession or income from other sources then it is to be assessed as deemed income u/s 68 or 69 family. In the present case, the addition made by the AO is u/s 69C of the Act. The section

SANJAY LUNIA,AJMER vs. ITO WD-2(1), AJMER

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

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

68 read with section 115BBE, if the names and addresses of the buyers are not mentioned in the cash memo. d. A professional will have also to prove the nature and source of his receipts in a definite manner by maintaining the record on the basis of some norms. Thus considering the facts of the case I find that

MUKESH KUMAR SAINI,SIKANDARA vs. PCIT(CENTRAL), JAIPUR

In the result, the appeal of the assessee is in ITA no

Bench: or at the time of hearing.” 5. It is seen that the only grievance raised by the assessee is that PCIT erred in holding the order of the assessment as erroneous in so far as prejudicial to the interest of the revenue. Brief facts related to the issue are culled out are that in this case a Survey action u/s 133A of the Act was carried out on 26.02.2019 at the business premises of the assessee firm M/s Nirankar Tiles and Sanitory 4

business of the assessee and there is no finding in the order of ld. AO that the income so offered by the assessee is undisclosed income chargeable to tax as per provisions of section 68

RIDHIRAJ BUILDERS,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-6, NCRB, JAIPUR

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

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

68 applied by the Ld. AO and taxing the income under section 115 BBE is totally unjustifiable and also contrary to the decisions of Hon'ble Jurisdictional High Court/ITAT. It is prayed that necessary directions may kindly be given to the Assessing Officer to tax the surrendered income under the head "Income from Business

PARSHAVNATH ASSOCIATES, KOTA,KOTA vs. ACIT/DCIT,CENTRAL CIRCLE, KOTA, KOTA

In the result, both the appeal filed by separate assessee are allowed in terms of the above observations

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

68, 69, 694 or 69C in case the assessee is engaged in some business activity. This is not found to be acceptable as per the provisions of Income Tax Act. There was no such intention of the legislature. There is no provision in the Income Tax which says that the sections

PARSHWANATH BUILDESTATE PRIVATE LIMITED, KOTA,KOTA vs. ACIT/DCIT,CENTRAL CIRCLE, KOTA, KOTA

In the result, both the appeal filed by separate assessee are allowed in terms of the above observations

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

68, 69, 694 or 69C in case the assessee is engaged in some business activity. This is not found to be acceptable as per the provisions of Income Tax Act. There was no such intention of the legislature. There is no provision in the Income Tax which says that the sections

KATH BROTHERS,JAIPUR vs. ACIT, CENTRAL CIRCLE-3, JAIPUR, JAIPUR

In the result, the appeal of the assessee is allowed

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

68 not applies when assessee explained nature & source of Income. Hence, when all the incomes earned by the assessee/ assets in the possession of the assessee are only from the business income of the assessee, there do not arise any question as to application of provisions of section

MUKESH KUMAR SARAOGI,CHURU vs. PRINCIPAL COMMISSIONER OF INCOME TAX-2, JAIPUR

The appeal of the assessee is dismissed

68 to section 69D (Scope of provisions) – Assessment year 2017-18 - Assessing Officer completed assessment in case of assessee under section 143(3) at assessed income of Rs. 41.78 lakhs which included income surrendered pursuant to search of Rs. 22.19 lakhs as current year's business

SHRI AMBICA GARMENTS, JODHPUR,JODHPUR vs. ACIT, CENTAL CIRCLE-3, JAIPUR, JAIPUR

In the result, all appeals of the assessee are disposed off in terms of

68, 69 ETC. ARE SEPARATE AND DISTINCT FROM INCOMES UNDER THE HEADS BUSINESS INCOME, CAPITAL GAINS ETC. Section 28 is not an inclusive

SANJAY KUMAR KARNANI,JAIPUR vs. ACIT, CENTRAL CIRCLE-3, JAIPUR, JAIPUR

In the result, all appeals of the assessee are disposed off in terms of

Bench: AO on 12-04-2021 18. Reply filed before AO on 15-07-2021 19. Additional Written Submissions filed before CIT(A) for AY 2014-15 on 11-11-2024 20. Written Submissions filed before CIT(A) for AY 2014-15 21. Written Submissions filed before CIT(A) for AY 2015-16 on 10-10-2024 22. Written Submissions filed before CIT(A) for AY 2016-17 on 10-10-2024 23. Written Submissions filed before CIT(A) for AY 2017-18 on 15-10-2024 24. Written Submissions filed before CIT(A) for AY 2018-19 on 15-10-2024 25.

68, 69 ETC. ARE SEPARATE AND DISTINCT FROM INCOMES UNDER THE HEADS BUSINESS INCOME, CAPITAL GAINS ETC. Section 28 is not an inclusive

SHRI AMBICA GARMENTS, JODHPUR,JODHPUR vs. ACIT, CENTAL CIRCLE-3, JAIPUR, JODHPUR

In the result, all appeals of the assessee are disposed off in terms of

68, 69 ETC. ARE SEPARATE AND DISTINCT FROM INCOMES UNDER THE HEADS BUSINESS INCOME, CAPITAL GAINS ETC. Section 28 is not an inclusive