DY. COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2, JAIPUR, JAIPUR vs. M/S GOKUL KRIPA COLONIZERS & DEVELOPERS PVT. LTD., JAIPUR

In the result, the appeals of the revenue stands dismissed, and the

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

269T are not related to the assessment proceeding but are independent of it, therefore, the completion of appellate proceedings arising out of the assessment proceedings or the other proceedings during which the penalty proceedings under ss. 271D and 271E may have been initiated has no relevance for sustaining or not sustaining the penalty proceedings and, therefore

DY. COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2, JAIPUR, JAIPUR vs. M/S GOKUL KRIPA COLONIZERS & DEVELOPERS PVT. LTD., JAIPUR

In the result the appeal of the revenue in ITA no

269T are not related to\nthe assessment proceeding but are independent of it, therefore, the completion of\nappellate proceedings arising out of the assessment proceedings or the other\nproceedings during which the penalty proceedings under ss.271D and 271E may\nhave been initiated has no relevance for sustaining or not sustaining the penalty\nproceedings and, therefore

DY. COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2, JAIPUR, JAIPUR vs. M/S GOKUL KRIPA COLONIZERS & DEVELOPERS PVT. LTD., JAIPUR

In the result the appeal of the revenue in ITA no

269T are not related to\nthe assessment proceeding but are independent of it, therefore, the completion of\nappellate proceedings arising out of the assessment proceedings or the other\nproceedings during which the penalty proceedings under ss.271D and 271E may\nhave been initiated has no relevance for sustaining or not sustaining the penalty\nproceedings and, therefore

DY. COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2, JAIPUR, JAIPUR vs. M/S GOKUL KRIPA COLONIZERS & DEVELOPERS PVT. LTD., JAIPUR

In the result the appeal of the revenue in ITA no

269T are not related to\nthe assessment proceeding but are independent of it, therefore, the completion of\nappellate proceedings arising out of the assessment proceedings or the other\nproceedings during which the penalty proceedings under ss.271D and 271E may have\nbeen initiated has no relevance for sustaining or not sustaining the penalty proceedings\nand, therefore

DY. COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2, JAIPUR, JAIPUR vs. M/S GOKUL KRIPA COLONIZERS & DEVELOPERS PVT. LTD., JAIPUR

In the result the appeal of the revenue in ITA no

269T are not related to\nthe assessment proceeding but are independent of it, therefore, the completion of\nappellate proceedings arising out of the assessment proceedings or the other\nproceedings during which the penalty proceedings under ss.271D and 271E may\nhave been initiated has no relevance for sustaining or not sustaining the penalty\nproceedings and, therefore

DY. COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2, JAIPUR, JAIPUR vs. M/S GOKUL KRIPA COLONIZERS & DEVELOPERS PVT. LTD., JAIPUR

In the result the appeal of the revenue in ITA no

269T are not related to\nthe assessment proceeding but are independent of it, therefore, the completion of\nappellate proceedings arising out of the assessment proceedings or the other\nproceedings during which the penalty proceedings under ss.271D and 271E may\nhave been initiated has no relevance for sustaining or not sustaining the penalty\nproceedings and, therefore

DY. COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2, JAIPUR, JAIPUR vs. M/S GOKUL KRIPA COLONIZERS & DEVELOPERS PVT. LTD., JAIPUR

In the result the appeal of the revenue in ITA no

269T are not related to\nthe assessment proceeding but are independent of it, therefore, the completion of\nappellate proceedings arising out of the assessment proceedings or the other\nproceedings during which the penalty proceedings under ss.271D and 271E may\nhave been initiated has no relevance for sustaining or not sustaining the penalty\nproceedings and, therefore

PRAKASH CHAND VARINDANI,JAIPUR vs. ACIT CERTAL CIRLCE-3, JAIPUR

In the result, the appeal of the assessee is allowed

68,57,133/-. Penalty u/s 270A, u/s 271AAC. u/s 270A(9)(c), initiated\nseparately for misreporting/under reporting the facts as discussed above. Penalty\nu/s 272A(1)(d) for non-compliance of statutory notices. Penalty initiation for\nviolation of section 269SS & 269T

DY. COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2, JAIPUR, JAIPUR vs. SH. ASHWANI GUPTA, JAIPUR

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

68,450/- against the aforesaid\ncarried forward cash loans and cash loans taken during the year, which is\nalso in violation to the provisions of section 269T

DY. COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2, JAIPUR, JAIPUR vs. SH. ASHWANI GUPTA, JAIPUR

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

68,450/- against the aforesaid\ncarried forward cash loans and cash loans taken during the year, which is\nalso in violation to the provisions of section 269T

DY. COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2, JAIPUR, JAIPUR vs. SH. ASHWANI GUPTA, JAIPUR

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

68,450/- against the aforesaid\ncarried forward cash loans and cash loans taken during the year, which is\nalso in violation to the provisions of section 269T

DY. COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2, JAIPUR, JAIPUR vs. SH. ASHWANI GUPTA, JAIPUR

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

68,450/- against the aforesaid\ncarried forward cash loans and cash loans taken during the year, which is\nalso in violation to the provisions of section 269T

DY. COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2, JAIPUR, JAIPUR vs. ASHWANI GUPTA, JAIPUR

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

68,450/- against the aforesaid\ncarried forward cash loans and cash loans taken during the year, which is\nalso in violation to the provisions of section 269T

M/S MORANI CARS PVT. LTD.,JAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, WARD-6, JAIPUR

In the result the appeal of the assessee is partly allowed

Section 36(1) specifically disallows the interest payment on borrowed funds taken to purchase fixed assets upto the period before put to use. Since no funds were borrowed and no interest was paid the disallowance is illegal and to be quashed. Your honour, here I want to place the decision of Hon`ble high court of Rajasthan in case

JAGAT SINGH RATHORE,TONK vs. ITO WD 7(2), , JAIPUR

In the result, the appeal of the assessee is allowed for statistical purposes

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

269T of the act and in absence of any fresh material or contrary record to show that the amount was taken as a loan by the assessee for the assessee’s requirement, the penalty levied u/s 271D or section 271E are not justified.” Thus, it is already being held in similar facts and circumstances of the case that what

SH. ASHOK KUMAR PORWAL,JHALAWAR vs. JCIT, RANGE-1, KOTA, KOTA

In the result, appeal of the assessee is partly allowed

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

68 solely on basis of information received from Investigation Wing that lenders from whom assessee- company acquired loans were indulged in bogus accommodation entries, since assessee was not granted an opportunity to cross-examine persons whose statements were recorded during investigation, impugned additions made on basis of such investigation which was not privy to assessee were to be deleted

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

In the result the appeal of the department is dismissed

section 269 SS will not be applicable. Although addition w/s 68 or provisions of sec.269SS are independent provisions but if the alleged income is held to be deemed income of the assessee, the penalty u/s 271D could not be invoked." 22 ACIT, Alwar vs Shri Babu Lal Data, Alwar DIT(Exemptions) Vs. Young Men Christian Association

SHOBNA AGARWAL,AJMER ROAD JAIPUR vs. ACIT CIRCLE-2 , JAIPUR

Bench: SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member), SHRI NARINDER KUMAR (Judicial Member)

68 of the Act. 6 Shobna Agarwal vs ACIT-2, Jaipur On examining the details, the Assessing Officer also gathered that the assessee had withdrawn cash to the tune of Rs. 10,00,000/- on 08.11.2019 after which the currency of 500 & 1000 was no more a legal tender. Hence, after giving credit to this cash, the total unexplained cash