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)

68, Section 69, Section 69A, Section 69B, Section 69C or Section 69D, at the rate of 30% (plus surcharge and cess), without allowing any deduction for any expenditure or allowance. 4.25. Thereafter, the provisions of sub-section (1) of Section 115BBE were substituted by Taxation Laws (Second Amendment) Act, 2016, w.e.f

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

section 68 of the Income\nTax Act and therefore in the assessment completed addition of Rs. 1,73,56,000/-\nis made.\n3.4.12 Accordingly, the A.O. referred to provision u/s 68 of the I. T. Act and also\nrelied upon the decision of Hon'ble Supreme Court in the case of CIT v Durga\nPrasad More

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, 69, 69A, 69B, 69C or 69D), its taxability cannot be determined in terms of section 115BBE. In the circumstances, it is humbly submitted that the action of ld. CIT(A) in confirming the addition of Rs.16,52,000/- made by ld. AO without appreciating the details and evidences filed, deserves to be deleted

ABHAY CHORDIA,JAIPUR vs. THE ACIT, JAIPUR

In the result the appeal filed by the assessee is allowed

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

68 and charging income tax as per section 115BBE, the learned AO erred in ignoring various related papers, documents and explanation furnished/produced for the financial year 2016-17 relevant to AY 2017-18 before the AO: i) Month wise details of stock inter alia giving figures of opening stock of each month. ii) Copy of stock register maintained

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

In the result, appeal of the revenue is dismissed

68 of the Act. For this he relied the provision of section 292C and requested to grant the relief in accordance with the law. He further stated that when any document found during the course of search the content written on the page found is to believe as correct. He also relied on the CBDT circular no. 14/2001

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

In the result, appeal of the revenue is dismissed

68 of the Act. For this he relied the provision of section 292C and requested to grant the relief in accordance with the law. He further stated that when any document found during the course of search the content written on the page found is to believe as correct. He also relied on the CBDT circular no. 14/2001

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

In the result, appeal of the revenue is dismissed

68 of the Act. For this he relied the provision of section 292C and requested to grant the relief in accordance with the law. He further stated that when any document found during the course of search the content written on the page found is to believe as correct. He also relied on the CBDT circular no. 14/2001

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

In the result, appeal of the revenue is dismissed

68 of the Act. For this he relied the provision of section 292C and requested to grant the relief in accordance with the law. He further stated that when any document found during the course of search the content written on the page found is to believe as correct. He also relied on the CBDT circular no. 14/2001

SURENDRA PAL SINGH SAHNI,KOTA vs. ASSTT. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOTA, KOTA

In the result, the appeal of the assessee is allowed

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

68 on income of Rs. 645810/- surrendered by the assessee in revised computation which is again illegal and deserves to be deleted. 5. That in the facts and circumstances of the case and in law the learned CIT Appeal has erred in passing the order in the name of deceased persons in-spite of the fact that this fact

GEETA DEVI AGARWAL,JAIPUR vs. INCOME TAX OFFICER, ITO WD 1(4), JPR, JAIPUR

In the result, the appeal of the assessee is allowed

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI, आयकर अपील सं. / ITA No. 450/JP/2025 निर्धारण वर्ष / Assessment Year : 2017-18 Badri Lal Agarwal through Legal heir Smt. Geeta Devi G-5, Shyama Residency, Plot No. 7, Purander Ji Ka Bag Moti Doongri Road, Jaipur स्थायी लेखा सं. / जीआईआर सं./PAN/GIR No.: ALGPA5194C अपीलार्थी / Appellant निर्धारिती की ओर से / Assessee by: Sh. S. B. Natani, CA राजस्व की ओर से / Revenue by : Sh. Gautam Singh Choudhary, JCIT सुनवाई की तारीख /

68 on income of Rs. 645810/- surrendered by the assessee in revised computation which is again illegal and deserves to be deleted. 5. That in the facts and circumstances of the case and in law the learned CIT Appeal has erred in passing the order in the name of deceased persons in-spite of the fact that this fact

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)

24) The concept of Risk Management Strategy formulated by the Board is incorporated in Clause (i) of Explanation 1, as also specified in Clause 3 of the notification dated 29.03.2022 issued by the Central Government in accordance with the provisions of Explanation 1 clause (i) to Section 148, which is not applicable in the case of information received during

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)

24) The concept of Risk Management Strategy formulated by the Board is incorporated in Clause (i) of Explanation 1, as also specified in Clause 3 of the notification dated 29.03.2022 issued by the Central Government in accordance with the provisions of Explanation 1 clause (i) to Section 148, which is not applicable in the case of information received during

RAJENDRA KUMAR AGRAWAL,JAIPUR vs. ACIT CEN CIR 1 , C-SCHEME, JAIPUR

In the result, the appeal of the assessee is partly allowed

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

24 Rajendra Kumar Agrawal vs. ACIT applicants had discharged onus to prove identity, creditworthiness and genuineness of its loan transactions with various companies and source of source had also been proved by assessee, impugned loan transactions could not be treated as unexplained cash credit under section 68

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

KALINDEE ESTATES PRIVATE LIMITED,JAIPUR vs. INCOME TAX OFFICER , JAIPUR

section 68, it is evident that assessing officer can make\naddition u/s 68 only under two circumstances, i.e.:\nor\n(i)\n(ii)\nAppellant does not offer any explanation about nature and source of such credit\nExplanation offered by Appellant is not upto the satisfaction of Ld. AO.\nIn other words, whenever Appellant provides explanation, before rejecting the\nsame

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2, JAIPUR vs. M/S GANPATI EXCLUSIVE DESIGNER SAREES PVT. LTD., JAIPUR

In the result, appeal of the assessee is allowed

24) of the Act w.e.f. 01-04-2013. Therefore, the provisions of these sections cannot be made applicable prior to that A.Y. 2013-14. It is pertinent to note that the ld. CIT(A) had issued the show cause notice to the assessee to tax the share capital under section 68

M/S GANPATI EXCLUSIVE DESIGNER SAREES PVT. LTD.,JAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2, JAIPUR

In the result, appeal of the assessee is allowed

24) of the Act w.e.f. 01-04-2013. Therefore, the provisions of these sections cannot be made applicable prior to that A.Y. 2013-14. It is pertinent to note that the ld. CIT(A) had issued the show cause notice to the assessee to tax the share capital under section 68

PADMAVATI AGRICO (INDIA) PVT LTD,AJMER vs. ACIT CIRCLE - 1, AJMER

In the result, the appeal of the assessee is allowed

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

section 68, it is evident that assessing officer can make addition u/s 68 only under two circumstances, i.e.: (i) Appellant does not offer any explanation about nature and source of such credit or (ii) Explanation offered by Appellant is not upto the satisfaction of Ld. AO. In other words, whenever Appellant provides explanation, before rejecting the same