MAHESH KUMAR GUPTA,JAIPUR vs. ACIT ,CIRCLE-4, JAIPUR

In the result, appeal of the assessee is allowed

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

Section 68. 3. NATIONAL FACELESS APPEAL CENTRE 3.1. Before NFAC, elaborated submission, were made by the assessee which have also been reproduced from Page 9 to 43 of the order. 3.2. Ld. CIT(A), without any cogent basis, in just one para, dismissed the appeal of the assessee by simply mentioning that ld. CIT(A) agreed with the observations

ABHAY CHORDIA,JAIPUR vs. THE ACIT, JAIPUR

In the result the appeal filed by the assessee is allowed

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

section 68 are not applicable in this case because there are proper entries of sale, SBNs/cash received against sale of Gold Ornaments and Jewellery and cash balance etc. in the regular books of account of the assessee. 8. That the Id. CIT(A) has erred in not taking into consideration the fact that the cash/SBNs deposited by the appellant

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

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

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

SURENDRA PAL SINGH SAHNI,KOTA vs. ASSTT. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOTA, KOTA

In the result, the appeal of the assessee is allowed

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

44 ADA under presumptive taxation scheme of the department. The provision of section 69 A is reproduced here under:- Section 69 A 69A. Where in any financial year the assessee is found to be the owner of any money, bullion, jewellery or other valuable article and such money, bullion, jewellery or valuable article is not recorded

GEETA DEVI AGARWAL,JAIPUR vs. INCOME TAX OFFICER, ITO WD 1(4), JPR, JAIPUR

In the result, the appeal of the assessee is allowed

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI, आयकर अपील सं. / ITA No. 450/JP/2025 निर्धारण वर्ष / Assessment Year : 2017-18 Badri Lal Agarwal through Legal heir Smt. Geeta Devi G-5, Shyama Residency, Plot No. 7, Purander Ji Ka Bag Moti Doongri Road, Jaipur स्थायी लेखा सं. / जीआईआर सं./PAN/GIR No.: ALGPA5194C अपीलार्थी / Appellant निर्धारिती की ओर से / Assessee by: Sh. S. B. Natani, CA राजस्व की ओर से / Revenue by : Sh. Gautam Singh Choudhary, JCIT सुनवाई की तारीख /

44 ADA under presumptive taxation scheme of the department. The provision of section 69 A is reproduced here under:- Section 69 A 69A. Where in any financial year the assessee is found to be the owner of any money, bullion, jewellery or other valuable article and such money, bullion, jewellery or valuable article is not recorded

RAJENDRA KUMAR AGRAWAL,JAIPUR vs. ACIT CEN CIR 1 , C-SCHEME, JAIPUR

In the result, the appeal of the assessee is partly allowed

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

44,100/- vide its Order u/s 250 dated 06.02.2025 by treating the fresh unsecured loan amounting to Rs. 2,01,92,401/- taken by the appellant during the financial year 2016-17 under consideration as un-explained by upholding invoking the provisions of section 68

ALKA KHANDAKA,JAIPUR vs. INCOME TAX OFFICER WARD 1(2), JAIPUR

In the result, the appeal of the assessee is partly allowed

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

Section 68: Cash deposits of ₹44,61,000 treated as unexplained credits. Taxed under Section 115BBE @ 60%. 33 Alka

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)

section 68 of the 51 Peeyush Agarwal, Jaipur. Act that will amount to double taxation once as sales and again as unexplained cash credit which is against the principles of taxation. Assessee was having only one source of income from trading in beedi, tea power and pan masala and therefore provisions of section 115BBE of the Act will

INCOME TAX OFFICER WARD 1 JHUNJHUNU, JHUNJHUNU vs. BAGARIA TRADE IMPEX, CHURU

In the result, appeal of the Revenue is allowed and order of the AO is\nconfirmed

section 68 of the Act and specifically\nreferring the first proviso reads as under:\n\"The person in whose name such credit is recorded in the books of such assessee also\noffers an explanation about the nature and source of such sum so credited.\"\nIn view of the above, the proviso specifically, made the person accountable and\nincluded

INCOME TAX OFFICER WARD-1 JHUNJHUNU, JHUNJHUNU vs. BAGARIA TRADE IMPEX, CHURU

In the result, appeal of the Revenue is allowed and order of the AO is\nconfirmed

section 68 of the Act and specifically\nreferring the first proviso reads as under:\n\"The person in whose name such credit is recorded in the books of such assessee also\noffers an explanation about the nature and source of such sum so credited.\"\nIn view of the above, the proviso specifically, made the person accountable and\nincluded

INCOME TAX OFFICER WARD 1 JHUNJHUNU, JHUNJHUNU vs. BAGARIA TRADE IMPEX, CHURU

In the result, appeal of the Revenue is allowed and order of the AO is\nconfirmed

section 68 of the Act and specifically\nreferring the first proviso reads as under:\n\"The person in whose name such credit is recorded in the books of such assessee also\noffers an explanation about the nature and source of such sum so credited.\"\nIn view of the above, the proviso specifically, made the person accountable and\nincluded

UPENDRA KUMAR SONI,KOTA vs. ACIT, CENTRAL CIRCLE-KOTA, CENTRAL CIRCLE, KOTA

In the result, both the appeals of the assesee are allowed for statistical purposes

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

68 in respect of excess loan availed from 'R', since assessee did not file any application before Commissioner (Appeals) to adduce additional evidence in order to prove genuineness of cash credit and, moreover, no prayer was made by assessee with regard to exercise of powers of Commissioner (Appeals) under section 250 (4) read with section 250(5), appellate

UPENDRA KUMAR SONI,KOTA vs. ACIT, CENTRAL CORCLE-KOTA, KOTA

In the result, both the appeals of the assesee are allowed for statistical purposes

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

68 in respect of excess loan availed from 'R', since assessee did not file any application before Commissioner (Appeals) to adduce additional evidence in order to prove genuineness of cash credit and, moreover, no prayer was made by assessee with regard to exercise of powers of Commissioner (Appeals) under section 250 (4) read with section 250(5), appellate

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 on account of cash deposits could not be made simply on the reason that during the demonetization period, cash deposits vis-à-vis cash sales ratio was higher. If customers during the period of demonetization purchased jewellery in cash which has been duly recorded in the books of account of the Appellant and also tallying with

ACIT CENTRAL CIRCLE-1 , JAIPUR vs. MAHENDRA KUMAR AGARWAL, JAIPUR

In the result, appeal of the revenue is dismissed

section 115BBE were applicable. The amendment provisions are not retrospective in operation and are not applicable in the present case and therefore the ld. AO has been wrongly taxed the addition made u/s 68 of the Act by applying the amended provisions. In support of this the reliance is place on decision of Hon’ble Supreme Court in case

DCIT, CC-2, JAIPUR vs. M/S. ROYAL JEWELLERS, JAIPUR

In the result, appeal of the assessee in ITA No

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

section 115BBE are not applicable and such order deserves to be upheld. Without prejudice to our legal submission made above, it is submitted that during the course of search, Shri Manoj Khandelwal, partner in his statement recorded u/s 132(4) in reply to question No.30 (PB A.Y. 2016-17 pages 73-74) had categorically stated that these papers contain