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, 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. Sandeep Sethi & Ors. C.2. Thereafter, the provisions of sub-section (1) of Section 115BBE were substituted by Taxation Laws (Second Amendment

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, 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. Sandeep Sethi & Ors. C.2. Thereafter, the provisions of sub-section (1) of Section 115BBE were substituted by Taxation Laws (Second Amendment

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)

264-328) “16. Ground no. 2 relates to action of the lower authority treating the part of the sales attributable to cash sales as unexplained money (under section 69A) or that of the unexplained cash credits (under section 68

MOHAN LAL ASHOK KUMAR SARAF,JAIPUR vs. DCIT CEN CIR 1, JAIPUR

In the result, the appeal of the assessee is allowed as indicated hereinabove

section 68 of the Income Tax Act will be that apart from establishing the identity of the creditor, the assessee must establish the genuineness of the transaction as well as the creditworthiness of the creditors In CIT v. Korlay Trading Co. Ltd. [1998] 232 ITR 820 (Cal.), it was held that mere mention of file number of creditor will

RAJ KUMARI AGARWAL,JAIPUR vs. ACIT CEN CIR 2, , JAIPUR

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

section 68 of the Act. Hon’ble Supreme Court in the case of Commissioner of Income-tax V.P. Mohanakala [2007] 161 Taxman 169 (SC)/[2007] 291 ITR 278 (SC)/(2007) 210 CTR 20 (SC)[15-05-2007] has held as under:- "May be the money came by way of bank cheques and paid through the process of banking transaction

ACIT, CENTRAL CIRCLE-2, JAIPUR, JAIPUR vs. CHANDRA MOHAN BADAYA, JAIPUR

In the result the four appeals filed by the assessee stands

Bench: Him In The Case Of The Assessee For All These Four Assessment Year.

section 68 of the Income Tax Act will be that apart from establishing the identity of the creditor, the assessee must establish the genuineness of the transaction as well as the creditworthiness of the creditors. In CIT v. Korlay Trading Co. Ltd. [1998] 232 ITR 820 (Cal), it was held that mere mention of file number of Chandra Mohan

ACIT, CENTRAL CIRCLE-2, JAIPUR, JAIPUR vs. CHANDRA MOHAN BADAYA, JAIPUR

In the result the four appeals filed by the assessee stands

Bench: Him In The Case Of The Assessee For All These Four Assessment Year.

section 68 of the Income Tax Act will be that apart from establishing the identity of the creditor, the assessee must establish the genuineness of the transaction as well as the creditworthiness of the creditors. In CIT v. Korlay Trading Co. Ltd. [1998] 232 ITR 820 (Cal), it was held that mere mention of file number of Chandra Mohan

ACIT, CENTRAL CIRCLE-2, JAIPUR, JAIPUR vs. CHANDRA MOHAN BADAYA, JAIPUR

In the result the four appeals filed by the assessee stands

Bench: Him In The Case Of The Assessee For All These Four Assessment Year.

section 68 of the Income Tax Act will be that apart from establishing the identity of the creditor, the assessee must establish the genuineness of the transaction as well as the creditworthiness of the creditors. In CIT v. Korlay Trading Co. Ltd. [1998] 232 ITR 820 (Cal), it was held that mere mention of file number of Chandra Mohan

ACIT, CC-2, JAIPUR, INCOME TAX DEPARTMENT vs. CHANDRA MOHAN BADAYA, JAIPUR

In the result the four appeals filed by the assessee stands

Bench: Him In The Case Of The Assessee For All These Four Assessment Year.

section 68 of the Income Tax Act will be that apart from establishing the identity of the creditor, the assessee must establish the genuineness of the transaction as well as the creditworthiness of the creditors. In CIT v. Korlay Trading Co. Ltd. [1998] 232 ITR 820 (Cal), it was held that mere mention of file number of Chandra Mohan

CHANDRA MOHAN BADAYA,JAIPUR vs. DCIT, CENTRAL CIRCLE-2, JAIPUR

In the result the four appeals filed by the assessee stands

Bench: Him In The Case Of The Assessee For All These Four Assessment Year.

section 68 of the Income Tax Act will be that apart from establishing the identity of the creditor, the assessee must establish the genuineness of the transaction as well as the creditworthiness of the creditors. In CIT v. Korlay Trading Co. Ltd. [1998] 232 ITR 820 (Cal), it was held that mere mention of file number of Chandra Mohan

SAMARTH LIFESTYLE RETAILING PVT. LTD.,JAIPUR vs. DCIT, CIRCLE-6, JAIPUR, JAIPUR

section 68 of the Income-tax Act, 1961. suggests that\n(i) there has to be credit of amounts in the books maintained by the\nassessee (ii) such credit has to be a sum of money during the previous\nyear, and (iii) either (a) the assessee offers no explanation about the\nnature and source of such credits found

VENKATESHWARA WIRES PVT. LTD.,JAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, JAIPUR

In the result, the appeal of the assessee is allowed

Bench: The Ld. Ao As Well As Before The Ld. Cit(A) As The Documents Submitted Was Only In Support Of Confirmations & Other Documents Already Submitted & No New Documents Were Submitted. 2. The Assessee Craves Your Indulgence To Add Amend Or Alter All Or Any Grounds Of Appeal Before Or At The Time Of Hearing.”

264 ITR 254/[2004] 136 Taxman 213 held that it is not the business of the assessee to find out the source or sources from where the creditor had accumulated the amount which he had advanced in the form of loan to the assessee and Section 68 cannot be read to show that in the case of failure

INCOME TAX OFFICER, JAIPUR vs. KEDIA BUILDERS AND COLONIZERS PRIVATE LIMITED, JAIPUR

In the result, all appeals of the revenue are stands dismissed

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

section 147 of the I.T. Act, 1961.” 5.5. The appellant submitted that the AO has satisfied himself that appellant had taken accommodation entry in the shape of unsecured loans. The appellant submitted that it raised objections before AO against such reasons wherein it was categorically contended that appellant had not taken any unsecured loans from any of the party

DCIT, CENTRAL CIRCLE AJMER, AJMER vs. PUJA SYNTHETICS PRIVATE LIMITED, BHILWARA

In the result, the appeal of the Revenue is dismissed

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

68 of the Act is not retrospective but prospective in nature. Therefore, considering the plethora of evidence placed on record and considering the decision of the apex court in the case of Lovely Export the addition has been rightly deleted by the ld. CIT(A). The assessee clearly and categorically established the identity, genuineness and creditworthiness of the all this

RAGHAV KUMAR DHOOT,JAIPUR vs. DCIT CENTRAL CIRCLE 1, JAIPUR

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

section 68 of the\nIncome Tax Act will be that apart from establishing the identity of the\ncreditor, the assessee must establish the genuineness of the transaction\nas well as the creditworthiness of the creditors. In CIT v. Korlay Trading\nCo. Ltd. [1998] 232 ITR 820 (Cal.), it was held that mere mention of file\nnumber of creditor will

KAILASH CHAND MAHESHWARI,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX , JAIPUR

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

section 68 of the Income Tax Act will be that apart from establishing the identity of the creditor, the assessee must establish the genuineness of the transaction as well as the creditworthiness of the creditors. In CIT v. Korlay Trading Co. Ltd. [1998] 232 ITR 820 (Cal.), it was held that mere mention of file number of creditor will

ARYA SAMAJ MANDIR ,BHILWARA vs. CIT(E), JAIPUR

Bench: The Date Of Hearing.”

section 80G of the IT Act, 1961. Therefore, for the sake of convenience, we dispose off all the grounds through a consolidated order. 5. Before us, the ld. A/R of the assessee reiterated the arguments as were raised by him before the ld. CIT (Exemption) and also relied on the written submission submitted before us which are reproduced

ALOK KUMAR JAIN ,PEARL PLEASURE vs. ACIT CIR-6, JAIPUR, NEW CERNTRAL REVENUE BUILDING, BHAGWAN DASS ROAD, JAIPUR, RAJASTHAN,

Bench: Him.

section 143(3). Limited or Assessee. There is no evidence to prove that Assessee’s name appears in investigation report. • The Ld. AO alleged that the No such report of investigation has been confronted with the Assessee, Assessee is not a regular Investor in therefore, the allegation made is the shares , and a new investor does specifically denied