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

68, section 69, section 69A, section 69B, section 69C and section 69D of the Act and are subject to tax as per the tax rate applicable to the assessee. In case of individuals, HUF, etc., no tax is levied up to the basic exemption

MAHESH KUMAR GUPTA,JAIPUR vs. ACIT ,CIRCLE-4, JAIPUR

In the result, appeal of the assessee is allowed

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

section 68 in this case we have persuaded the decision of Hon’ble Delhi High Court in the case of Keshav Social and Charitable Foundation 278 ITR 152 wherein the court considered a situation where the assessee, a charitable trust, had disclosed donations received by it as its income, and claimed exemption

NITIN VIJAY,JAIPUR vs. ITO WARD 1(4), JAIPUR, JAIPUR

Section 68 creates deeming fictions, whereby certain amounts which are not\nconsidered as income by the assessee, are deemed to be income of the\nassessee. A deeming fiction of income cannot apply to an item which is\nalready treated as income by the assessee himself. The question of deeming\nan item to be income can only arise if the item

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)

exempt income from any source which the assessee fails to substantiate to the satisfaction of the A.Ο. b. Claiming income from agricultural operations which the assessee fails to substantiate to the satisfaction of the A.O. c. The provision of section 68

SHRI BABU LAL DATA,ALWAR vs. DCIT, CENTRAL CIRCLE, ALWAR

In the result, appeal of the revenue is dismissed

68 as all the circumstantial evidence found in the course of search conducted by the department proves that the money so received is an advance against the sale of agricultural land. The benefit of doubt, thus, goes in favour of the assessee so far as regard the nature of receipt is concerned as section 292C cast an obligation upon

ACIT, CENTRAL CIRCLE, ALWAR vs. SHRI BABU LAL DATA, 2015-16

In the result, appeal of the revenue is dismissed

68 as all the circumstantial evidence found in the course of search conducted by the department proves that the money so received is an advance against the sale of agricultural land. The benefit of doubt, thus, goes in favour of the assessee so far as regard the nature of receipt is concerned as section 292C cast an obligation upon

ACIT, CENTRAL CIRCLE, ALWAR vs. SHRI BABU LAL DATA, 2015-16

In the result, appeal of the revenue is dismissed

68 as all the circumstantial evidence found in the course of search conducted by the department proves that the money so received is an advance against the sale of agricultural land. The benefit of doubt, thus, goes in favour of the assessee so far as regard the nature of receipt is concerned as section 292C cast an obligation upon

SHRI BABU LAL DATA,ALWAR vs. DCIT, CENTRAL CIRCLE, ALWAR

In the result, appeal of the revenue is dismissed

68 as all the circumstantial evidence found in the course of search conducted by the department proves that the money so received is an advance against the sale of agricultural land. The benefit of doubt, thus, goes in favour of the assessee so far as regard the nature of receipt is concerned as section 292C cast an obligation upon

RAJIV NIGOTIYA,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX,CENTRAL CIRCLE-1, JAIPUR

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

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

68,69,69A,69B,69C or 69D. 12. The ld. DR is heard who has relied on the findings of the lower authorities as regards the addition sustained. As regards the charge of tax u/s. 115BBE he has vehemently argued that provision section 4 being the charging section does not support the contentions of the assessee so raised. Therefore

SANDEEP SETHI ,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX,CENTRAL CIRCLE-1,JAIPUR, JAIPUR

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

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

68,69,69A,69B,69C or 69D. 12. The ld. DR is heard who has relied on the findings of the lower authorities as regards the addition sustained. As regards the charge of tax u/s. 115BBE he has vehemently argued that provision section 4 being the charging section does not support the contentions of the assessee so raised. Therefore

RADHAKISHNA BENIWAL,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 1, JAIPUR, JAIPUR

In the result, the appeal filed by the assessee in ITA no

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

exemption certificate and VAT order by the appellant cannot be considered an evidence for the execution of contract work. 6.10. In the assessment order, the AO mentioned that the appellant was requested to furnish specific details vide notice under section 142(1) of the Act. However, the appellant failed to furnish the relevant contract agreement with M/s Dineshchandra R Agarwal

RADHAKISHAN BENIWAL,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 1, JAIPUR, JAIPUR

In the result, the appeal filed by the assessee in ITA no

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

exemption certificate and VAT order by the appellant cannot be considered an evidence for the execution of contract work. 6.10. In the assessment order, the AO mentioned that the appellant was requested to furnish specific details vide notice under section 142(1) of the Act. However, the appellant failed to furnish the relevant contract agreement with M/s Dineshchandra R Agarwal

PEEYUSH AGARWAL,JAIPUR, RAJASTHAN vs. ITO, WARD 1(5), JAIPUR, JAIPUR, RAJASTHAN

In the result Ground and 1 and 2 raised by the assessee are allowed

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI GAGAN GOYAL (Accountant Member)

section 68 of the 51 Peeyush Agarwal, Jaipur. Act that will amount to double taxation once as sales and again as unexplained cash credit which is against the principles of taxation. Assessee was having only one source of income from trading in beedi, tea power and pan masala and therefore provisions of section 115BBE of the Act will have

JITENDRA KUMAR TAHILRAMANI,JAIPUR vs. ITO WARD-2, JAIPUR., JAIPUR

Bench: Him.

Section 68 converts non-income into income and has no application where income is already offered for tax. 2.21. Hon’ble Delhi High Court, in the case of Keshav Social and Charitable Foundation (2005) 278 ITR 152, considered a situation where the assessee, a charitable trust, had disclosed donations received by it as its income, and claimed exemption

INCOME TAX OFFICER WARD-1 JHUNJHUNU, JHUNJHUNU vs. BAGARIA TRADE IMPEX, CHURU

In the result, appeal of the Revenue is allowed and order of the AO is\nconfirmed

section 68 of the Act and specifically\nreferring the first proviso reads as under:\n\"The person in whose name such credit is recorded in the books of such assessee also\noffers an explanation about the nature and source of such sum so credited.\"\nIn view of the above, the proviso specifically, made the person accountable and\nincluded

INCOME TAX OFFICER WARD 1 JHUNJHUNU, JHUNJHUNU vs. BAGARIA TRADE IMPEX, CHURU

In the result, appeal of the Revenue is allowed and order of the AO is\nconfirmed

section 68 of the Act and specifically\nreferring the first proviso reads as under:\n\"The person in whose name such credit is recorded in the books of such assessee also\noffers an explanation about the nature and source of such sum so credited.\"\nIn view of the above, the proviso specifically, made the person accountable and\nincluded

INCOME TAX OFFICER WARD 1 JHUNJHUNU, JHUNJHUNU vs. BAGARIA TRADE IMPEX, CHURU

In the result, appeal of the Revenue is allowed and order of the AO is\nconfirmed

section 68 of the Act and specifically\nreferring the first proviso reads as under:\n\"The person in whose name such credit is recorded in the books of such assessee also\noffers an explanation about the nature and source of such sum so credited.\"\nIn view of the above, the proviso specifically, made the person accountable and\nincluded

ACIT(EXEMPTION), JAIPUR vs. MAHIMA SHIKSHA SAMITI, JAIPUR

In the result, all the grounds taken by the Revenue are dismissed and ground taken by the assessee society is allowed

exempt entity or may be used for incurrence of expenditure towards achievement of its charitable purpose by the recipient exempt entity, such contribution is treated as application of income in the hands of the donor exempt entity. It is only now that the Finance Bill 2017 has proposed w.e.f 1 April 2018 that where such donations are made with specific