M/S P. R. ROLLING MILLS P. LTD.,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-3, JAIPUR

In the result, appeal of the assessee is allowed

Bench: The Itat By Taking Following

245C The application has paid fee of Rs.500/-. The additional tax and interest of Rs.6,47,00,000/- has also been fully paid in respect of the proceedings pending of the Assessment Years 2012-13, 2013- 14 and 2014-15. Therefore,, the application is allowed to be proceeded with u/s. 245D(lj of income Tax Act for Assessment Years

MANGI LAL KANDOI ,JAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE – 2, JAIPUR, JAIPUR

In the result, appeal of the assessee is partly allowed

245C remain unfulfilled. As such, the Commissioner if unable to provide for the terms of settlement as required u/s. 245D(6). Accordingly, the application in both cases, are hereby rejected.” As a result, the proceedings were abated to the assessing officer. 6. The ld. AO has completed the assessment u/s. 143(3) r.w.s. 153B(b)(1) r.w.s. 245A

RAJESH PRODUCTS,TONK ,RAJASTHAN vs. ACIT, JAIPUR

Appeal is dismissed

245C(1) of M/s. R. T. Industries has already been rejected by the ITSC against which it has filed a write petition before the Hon'ble Delhi High Court and in the absence of any direction the document seized pertains to the assessee the explanation cannot be considered. Further the assessee preferred an application before the Addl. CIT for direction

BHAGWAN SAHAI,JAIPUR vs. ITO, JAIPUR

In the result, the appeal of the assessee is allowed

245C(1) of the Act, the Commission can exercise jurisdiction under Chapter XIX-A of the Act only when there has been a true and full disclosure of income and also the manner in which the income has been derived, by the applicants. This is a condition precedent for the purpose of an applicant invoking the jurisdiction of the Commission

VIRENDRA SINGH RATNAWAT,JAIPUR vs. ACIT, CENTRAL CIRCLE-2, JAIPUR

In the result, three appeals of the assessee are allowed

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

245C(1), which otherwise was assessable under the deeming provisions as being nor recorded in books or incorrectly recorded, it does not take away such disclosed Virendra Singh Ratnawat vs. ACIT incomes from being in the nature of income assessable u/s 68 to 69D and consequently shall not escape the rigors of applicability of section

VIRENDRA SINGH RATNAWAT,JAIPUR vs. ACIT, CENTRAL CIRCLE-2, JAIPUR

In the result, three appeals of the assessee are allowed

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

245C(1), which otherwise was assessable under the deeming provisions as being nor recorded in books or incorrectly recorded, it does not take away such disclosed Virendra Singh Ratnawat vs. ACIT incomes from being in the nature of income assessable u/s 68 to 69D and consequently shall not escape the rigors of applicability of section

VIRENDRA SINGH RATNAWAT,JAIPUR vs. ACIT, CENTRAL CIRCLE-2, JAIPUR

In the result, three appeals of the assessee are allowed

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

245C(1), which otherwise was assessable under the deeming provisions as being nor recorded in books or incorrectly recorded, it does not take away such disclosed Virendra Singh Ratnawat vs. ACIT incomes from being in the nature of income assessable u/s 68 to 69D and consequently shall not escape the rigors of applicability of section

HEMA KANWAR NARENDRA SINGH RATHOD,JAIPUR vs. DCIT, CENTRAL CIRCLE-2, JAIPUR

In the result, appeals of the assessee are allowed for statistical purposes

Bench: HON’BLE SHRI SANDEEP GOSAIN, JM & HON’BLE SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

68 of the IT Act on account of undisclosed income earned through bogus long term capital gain and Rs. 1,74,318/- under section 69C of the Act on account of Smt. Hema Kanwar Narendra Singh Rathod, Jaipur. commission paid on the aforesaid bogus long term capital gain taxed at the rate of 30% as per provisions of section

HEMA KANWAR NARENDRA SINGH RATHOD,JAIPUR vs. DCIT, CENTRAL CIRCLE-2, JAIPUR

In the result, appeals of the assessee are allowed for statistical purposes

Bench: HON’BLE SHRI SANDEEP GOSAIN, JM & HON’BLE SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

68 of the IT Act on account of undisclosed income earned through bogus long term capital gain and Rs. 1,74,318/- under section 69C of the Act on account of Smt. Hema Kanwar Narendra Singh Rathod, Jaipur. commission paid on the aforesaid bogus long term capital gain taxed at the rate of 30% as per provisions of section

SUNIL KUMAR AGARWAL,JAIPUR vs. ACIT, CEN. CIR-2, JAIPUR

In the result the appeal of the assessee in ITA no

1) Rs.2,03,500/- (2) Rs.4,53,000/- (3) Rs.51,038/- (4) Rs.1,11,420/- Rs.8,18,958 During the course of assessment proceedings, it was submitted that the assessee, while filing the return of income for AY 2020-21, has taken into consideration the above papers of undisclosed sales. It is on account of such papers and other discrepancies