SHRI BABU LAL DATA,ALWAR vs. DCIT, CENTRAL CIRCLE, ALWAR

In the result, appeal of the revenue is dismissed

68,00,000/-without appreciating the fact that the assessee has not maintained any books of accounts and also failed to provide name, PAN, address of the persons with whom the loans were said to be taken." 4. "On the facts and circumstances of the case and in law the Ld.CIT(A) has erred in deleting the addition made

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

In the result, appeal of the revenue is dismissed

68,00,000/-without appreciating the fact that the assessee has not maintained any books of accounts and also failed to provide name, PAN, address of the persons with whom the loans were said to be taken." 4. "On the facts and circumstances of the case and in law the Ld.CIT(A) has erred in deleting the addition made

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

In the result, the appeal of the assessee is allowed

68 is contrary to law and\ndeserves to be deleted.\n2.\nThe disallowance under Section 40A(3) is unjustified

DEPUTY COMMISSIONER OF INCOME TAX, JAIPUR vs. M/S WORSHIP INFRAPROJECTS PVT LTD(PREVIOUSLY KNOWN AS OM METALS SPML INFRAPROJECTS PVT LTD), JAIPUR

In the result of the appeal of the assessee is allowed

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

40A(2)(b) for determination of ALP, there cannot be any adjustment in the income of the assessee on the ground of TP adjustment. Accordingly these grounds of the assessee are allowed. The additions made in the income of the assessee on account of TP adjustment in the domestic transaction are deleted. (x) ITAT Mumbai in the case of Mahindra

WORSHIP INFRAPROJECTS PRIVATE LIMITED,JAIPUR vs. DCIT, CEIRCLE-2, JAIPUR

In the result of the appeal of the assessee is allowed

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

40A(2)(b) for determination of ALP, there cannot be any adjustment in the income of the assessee on the ground of TP adjustment. Accordingly these grounds of the assessee are allowed. The additions made in the income of the assessee on account of TP adjustment in the domestic transaction are deleted. (x) ITAT Mumbai in the case of Mahindra

RUKMANI JEWELLERS PRIVATE LIMITED,JAIPUR vs. DCIT CIR.-4 JAIPUR, JAIPUR

In the result, the appeal of the assessee is allowed

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

section 68. (f) In the case of "Dewas Soya Ltd. Vs ITO ITA NO.336/IND/2012" HAT Hon'ble ITAT has also held just because the amounts were received from the buyers in cash, the assessee cannot be penalized because the restriction placed for payment u/s 40A

SUBHASH PARETA,KOTA vs. ACIT, KOTA

In the result, the appeal of the assessee and the revenue are disposed off with above directions

40A(3) has been rightly deleted by the ld CIT(A). The ground no. 2 of revenue’s appeal is accordingly dismissed. 29. Regarding ground No. 3 of the Revenue’s appeal relating to deletion of addition on account of unexplained expenditure of Rs 1,18,34,723 under Section 69C, briefly the facts of the case are that

INCOME TAX OFFICER, WARD-6(2), JAIPUR, NCR BUILDING, STATUE CIRCLE JAIPUR vs. VASUDEV HEMRAJANI, ARJUN NAGAR, JAIPUR

The appeal of the revenue stands dismissed

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

68 of the Act. With respect to disallowance of an amount of Rs. 12,63,307/-, being 25% of expenses on ad hoc basis, the CIT(A) held that the AO after rejecting books of accounts relied upon the same set of books for making disallowance out of the expenses claimed which is not correct. The decision

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)

section 68. (g) In the case of "Dewas Soya Ltd. Vs ITO ITA NO.336/IND/2012" HAT Hon'ble ITAT has also held just because the amounts were received from the buyers in cash, the assessee cannot be penalized because the restriction placed for payment u/s 40A

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2, JAIPUR vs. M/S GANPATI EXCLUSIVE DESIGNER SAREES PVT. LTD., JAIPUR

In the result, appeal of the assessee is allowed

section 145(3) of Act. The following additions are made by the AO. S. No. Particulars Amount 1. Trading addition of Rs. 7,68,940/- by applying 7,68,940.00 the G.P. rate of 8.60% as against the declared G.P rate of 8.52% declared by assessee 2. On account of late deposit of employee 33,914.00 contribution of Provident

M/S GANPATI EXCLUSIVE DESIGNER SAREES PVT. LTD.,JAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2, JAIPUR

In the result, appeal of the assessee is allowed

section 145(3) of Act. The following additions are made by the AO. S. No. Particulars Amount 1. Trading addition of Rs. 7,68,940/- by applying 7,68,940.00 the G.P. rate of 8.60% as against the declared G.P rate of 8.52% declared by assessee 2. On account of late deposit of employee 33,914.00 contribution of Provident

SHIVAM READYMIX PRIVATE LIMITED,JAIPUR vs. ACIT, JAIPUR

In the result, the appeal of the assessee is allowed

68,19,218/-were made in cash and thereby it also violates the provision\nof section 40A(3) of the Act. Based

AMAN EXPORTS INTERNATIONAL,JAIPUR vs. DCIT CIRCLE 1, JAIPUR

In the result, appeal of the assessee is partly allowed

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

68 of the Act for the year under consideration. The ld. AO also noted that the 5 Aman Exports International vs. DCIT assessee made the payment in violation of section 40A

M/S. GURU KRIPA CAREER INSTITUTE PVT. LTD.,SIKAR vs. PR.CIT-3, JAIPUR

In the result, appeal of the assessee is allowed

68 to 69D read with section 115BBE The impugned order therefore, lacks valid jurisdiction u/s 263 of the Act and hence, the impugned order kindly be quashed. 4. That the learned Pr.CIT-3 Jaipur erred both in law and on facts in failing to appreciate the material placed on record, written submissions furnished and evidence tendered by the appellant

DCIT, JAIPUR vs. JADAU JEWELLERS & MFG (P) LTD., JAIPUR

In the result, the appeals filed by the assessee are partly allowed and that of the Revenue are dismissed

68 of the Act. The Hon'ble Punjab & Haryana High Court in the case of CIT Vs. Smt.Santosh Jain, 296 ITR 324 held that Section 40A

MOTHERS EDUCATION HUB,JAIPUR vs. ACIT, CIRCLE-1, JAIPUR, JAIPUR

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

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

section 250 of the IT Act, 1961 for the assessment year 2017-18. The assessee has raised the following grounds :- 1. The ld. CIT (A) NFAC has erred on facts and in law in confirming the disallowance of Rs. 46,36,775/- u/s 40A(2)(b) of IT Act, 1961. 2. The ld. CIT (A) NFAC has erred

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 40A(2)(b) of the Act, which is confirmed. However, as pointed out by the appellant in his submissions, apparently, there is a calculation mistake in the assessment order; thus, interests should have been computed on Rs.1,68

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