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)

section 68 of the Act is amended by the Finance Act, 2012 and the requirement to prove the source of the source is not applicable in the year under consideration as the assessment year is concerned in 2009-10. In the light of this facts of the case and the assessee based on law prevent in the year under

M/S STANFORD DEVELOPERS,NEEMRANA ALWAR vs. INCOME TAX OFFICER , BEHROR

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

Bench: Him.

section 68 of the Act 6 M/s Stanford Developers, Alwar. and thereby treated as Income of the assessee & taxed as per provision u/s 115BBE of the Act. 3.2 As is evident from the record that large capital of Rs. 18,78,66,292

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

The appeal of the assessee is dismissed

68, section 69, section 69A, section 69B, section 69C or section 69D, if such income is not covered under clause (a). the income-tax payable shall be the aggregate of (i) the amount of income-tax calculated on income referred to in clause (a) and clause (b), at the rate of thirty per cent

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOTA vs. M/S BARAN ROLLER FLOUR MILLS PVT. LTD., KOTA

section 143(3) were passed wherein the transactions of investment made in the shares of the assessee were not disturbed by the AO. Hence all these documentary evidences as well as the admitted facts clearly established that the assessee has discharged its onus of proving the identity and creditworthiness of the share applicants as well as genuineness

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOTA vs. M/S BARAN ROLLER FLOUR MILLS PVT. LTD., KOTA

section 143(3) were passed wherein the transactions of investment made in the shares of the assessee were not disturbed by the AO. Hence all these documentary evidences as well as the admitted facts clearly established that the assessee has discharged its onus of proving the identity and creditworthiness of the share applicants as well as genuineness

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

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

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: 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

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

MAHENDRA KUMAR SHARMA,CHURU vs. PCIT (CENTRAL), JAIPUR

In the result the appeal of the assessee is allowed

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

68, 69, 69A, 69B, 69C and 69D reflected in the return furnished u/s 139 of the income tax act NOR AO determined includes any income referred in the above mentioned sections so our humble submission is that AO imposed normal tax slab because there is no ingredients of section 115BBE of the Income Tax Act. In our computation

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOTA vs. M/S. AGRASEN AGRO INDUSTRIES PRIVATE LIMITED,, KOTA

section 143(3) in respect of the share applicant companies, details of which are as under :- Assessment u/s 143(3) : Name of Company Assessment Income Assessment year Assessed Order u/s 143(3) at PB pg M/s Teac 2005-06 13,980 451-453 Consultants Pvt. Ltd M/s Teac 2006-07 45,395 454-455 Consultants Pvt. Ltd M/s Teac

M/S. AGRASEN AGRO INDUSTRIES PRIVATE LIMITED,,KOTA vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOTA

section 143(3) in respect of the share applicant companies, details of which are as under :- Assessment u/s 143(3) : Name of Company Assessment Income Assessment year Assessed Order u/s 143(3) at PB pg M/s Teac 2005-06 13,980 451-453 Consultants Pvt. Ltd M/s Teac 2006-07 45,395 454-455 Consultants Pvt. Ltd M/s Teac

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOTA vs. M/S. AGRASEN AGRO INDUSTRIES PRIVATE LIMITED,, KOTA

section 143(3) in respect of the share applicant companies, details of which are as under :- Assessment u/s 143(3) : Name of Company Assessment Income Assessment year Assessed Order u/s 143(3) at PB pg M/s Teac 2005-06 13,980 451-453 Consultants Pvt. Ltd M/s Teac 2006-07 45,395 454-455 Consultants Pvt. Ltd M/s Teac

DEPUTY COMMISSIONER OF INCOME TAX, JAIPUR vs. SHRI DULHE RAM MEENA, JAIPUR

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI GAGAN GOYAL (Accountant Member)

section 68 of the Act.  The deletion of this addition by the CIT (A) without any discussion of the issue in his Appeal Order is perverse and bad in law.  The nature of the transaction could not be proved by the assessee.  Rupal Jain vs Commissioner of Income tax (2023) 152 taxmann.com 346 (SC)  MrsRupal Jain vs Commissioner

ITO, WAR-4(1), JAIPUR vs. SHRI AMIT AGARWAL, JAIPUR

In the result, this appeal of the Revenue is dismissed

Bench: Shri Sandeep Gosain, Jm & Shri Vikram Singh Yadav, Am

292 and various other cases it was held that in exercise of powers under section 250, CIT(A) is entitled to admit additional evidence which he may think necessary for facilitating further enquiry, also in view of clauses (b) and (c) of Sub-rule (1) of rule 46A the appellate authority is empowered to allow the assessee to produce

MADAN MOHAN GUPTA ,KOTA vs. ITO WARD 1(3) , KOTA

section 68.\n1.31As the issue involved is of chargeability of long term capital gain as undisclosed\nincome of the assessee u/s 68 of the Act, it may be mentioned that many High\ncourts and ITAT benches have held in favour of the assessee. In one of the cases\n(CIT vs. Mukesh Ratilal Marolia) SLP filed by the Revenue

RAJRAJESHWARI GUPTA ,KOTA vs. ITO , WARD 1(1),KOTA, KOTA

In the result, the appeal of the assessee is allowed with no orders as to costs

Bench: Hon’ble SHRI SANDEEP GOSAIN (Judicial Member)

section 68. 26 RAJ RAJESHWARI GUPTA VS ITO, WARD 1(3), KOTA 1.31As the issue involved is of chargeability of long term capital gain as undisclosed income of the assessee u/s 68 of the Act, it may be mentioned that many High courts and ITAT benches have held in favour of the assessee. In one of the cases