BALAJI JEWELLERS ,JAIPUR vs. ACIT CC -4, JAIPUR

In the result, the appeal of the assessee is allowed

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

68 alleging that cash found during the course of search/seizure is not backed by valid Books of accounts as it has been rejected, but without bringing any cogent material in support of his contention and without bringing corroborative evidence and without considering the materials and explanations available on records in their true perspective and sense, therefore invocation of Section

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

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

The appeal of the assessee is dismissed

68, 69, 69A, 69B, 69C and 694. The same was amended by the 2nd Amendment Act; w.e.f. 01.04.2011, enhancing the rate to 60%. Hence there was no new liability created and the rate of tax merely stood enhanced which is applicable to the assessments carried on in that year. The enhanced rate applies from the commencement of the assessment year

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

section 68 of the Act are not satisfied. However the appellant / Id. AR has submitted ledger account of Kotak Bank loan and made arguments regarding Kotak Bank Loan and contended that bank loan cannot be treated as unexplained and that the substantial entries are matching in the ledger account in Jai Shree Ram and Ambika Garments. Accordingly the addition

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

section 68 of the Act are not satisfied. However the appellant / Id. AR has submitted ledger account of Kotak Bank loan and made arguments regarding Kotak Bank Loan and contended that bank loan cannot be treated as unexplained and that the substantial entries are matching in the ledger account in Jai Shree Ram and Ambika Garments. Accordingly the addition

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

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

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

section 68 of the Act are not satisfied. However the appellant / Id. AR has submitted ledger account of Kotak Bank loan and made arguments regarding Kotak Bank Loan and contended that bank loan cannot be treated as unexplained and that the substantial entries are matching in the ledger account in Jai Shree Ram and Ambika Garments. Accordingly the addition

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: DR. S. SEETHALAKSHMI (Judicial Member)

section 68 of the Act are not satisfied. However the appellant / Id. AR has submitted ledger account of Kotak Bank loan and made arguments regarding Kotak Bank Loan and contended that bank loan cannot be treated as unexplained and that the substantial entries are matching in the ledger account in Jai Shree Ram and Ambika Garments. Accordingly the addition

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.

section 68 of the Act are not satisfied. However the appellant / Id. AR has submitted ledger account of Kotak Bank loan and made arguments regarding Kotak Bank Loan and contended that bank loan cannot be treated as unexplained and that the substantial entries are matching in the ledger account in Jai Shree Ram and Ambika Garments. Accordingly the addition

ASHOK NARIYANI,JAIPUR vs. ACIT, CIRCLE-5, JAIPUR

In the result, the appeal of the assessee is allowed

Section 68 of the Income Tax Act, 1961 (in short 'I.T. Act') the A.O. has to\nadvert to each and every entry and not pick up a couple of entries, as in the present\ncase, and label the entire set of deposits made during the assessment year as\nundisclosed income of the assessee. As noticed above, the discrepancy appeared

INCOME TAX OFFICER, WARD-7(2), JAIPUR, JAIPUR vs. AMAR PRATAP STEELS PRIVATE LIMITED, JAIPUR

Bench: Him The Order Passed Under Section 143(3) R.W.S

section 68 of the IT Act. The AO simply relied on some vague information from the Investigation Wing regarding the accommodation entries. However, verification of the source of source is not the realm of the AO, as clearly held by the Supreme Court in the case of Lovely Exports (269

GAYATRI DEVI,JAIPUR vs. PCIT(CENTRAL), JAIPUR

In the result, this appeal of the assessee is allowed

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

68 not binding and not a valid ground for S 263: The ld. CIT in Para 8 at Page 10 of his Order, has alleged that the CBDT had issued Standard Operating Procedures (SOP dt. 10.07.2018). However, the AO did not follow the guidelines detailed therein which was binding upon AO.However the same is not a valid ground

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)

269 Taxman 508 (Madras)/[2019] 418 ITR 442 (Madras) [26-03-2019), it is held by the Hon'ble Madras High Court as under:- 8. In our opinion, Section 69B providing for amounts of investments in Bullion, Jewellery or other valuable articles (including excess Stocks as well) would have been more appropriate Section to be indicated

YOGESH GINNING MILL, PROP. YOGESH CHAND GUPTA,GOVINDGARH vs. ACIT, CIRCLE I, ALWAR

In the result, the appeals filed by the assessee are allowed

Bench: This Tribunal Which Were Passed By The Commissioner Of Income Tax (Appeal)- 4, Jaipur [ For Short Cit(A) ] Passed On Dates & F For The Assessment Years Mentioned As Tabulated Here In Below, In Turn Those Orders Were Arises Because The Assessee Has Yogesh Ginning Mill Vs. Acit

section 153C, wherein leave was given to assessee to file its return of income within 30 days - Said notices were followed by another set of notices, issued under section 142(1), wherein assessee was required to file relevant documents/information within two days - In view of fact that period accorded to assessee was extremely short, assessee had asked

YOGESH GINNING MILL, PROP. YOGESH CHAND GUPTA,GOVINDGARH vs. ACIT, ALWAR

In the result, the appeals filed by the assessee are allowed

Bench: This Tribunal Which Were Passed By The Commissioner Of Income Tax (Appeal)- 4, Jaipur [ For Short Cit(A) ] Passed On Dates & F For The Assessment Years Mentioned As Tabulated Here In Below, In Turn Those Orders Were Arises Because The Assessee Has Yogesh Ginning Mill Vs. Acit

section 153C, wherein leave was given to assessee to file its return of income within 30 days - Said notices were followed by another set of notices, issued under section 142(1), wherein assessee was required to file relevant documents/information within two days - In view of fact that period accorded to assessee was extremely short, assessee had asked

INCOME TAX OFFICER, JAIPUR vs. MOTISONS JEWELLERS LTDL, JAIPUR

section 115BBE of the Act. 4.1. Finding of ld.AO: - The findings and observations of ld. AO are at page 2 to 23 of the assessment order. In view of the observations and findings the ld. AO alleged that the sales made, amount realized from debtors and advances received from customers, which was utilized to deposit in bank account

DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-3, JAIPUR vs. SAPNA KARNANI, TONK PHATAK

In the result, the appeals of the revenue in ITA No

section 68 of the\nI.T. Act.\nThe moot point which the Tribunal, thus, dealt with, as noted by us hereinabove,\nwas- that as long as there was no material on record which established that\nunaccounted money (i.e., income generated which was not recorded in the books\nof accounts) had been funnelled in the form of investment

DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-3, JAIPUR vs. SAPNA KARNANI, TONK PHATAK

In the result, the appeals of the revenue in ITA No

section 68 of the\nI.T. Act.\nThe moot point which the Tribunal, thus, dealt with, as noted by us hereinabove,\nwas- that as long as there was no material on record which established that\nunaccounted money (i.e., income generated which was not recorded in the books\nof accounts) had been funnelled in the form of investment

DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-3, JAIPUR vs. SAPNA KARNANI, TONK PHATAK

In the result, the appeals of the revenue in ITA No

section 68 of the\nI.T. Act.\n\nThe moot point which the Tribunal, thus, dealt with, as noted by us hereinabove,\nwas- that as long as there was no material on record which established that\nunaccounted money (i.e., income generated which was not recorded in the books\nof accounts) had been funnelled in the form of investment