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 cannot be applied to the income which is already recorded in the books of account and the source of receipt is explained out of the stock already available with the assessee. To support these contentions the ld. AR of the assessee has relied upon the following case laws : 30 Mahesh Kumar Gupta vs ACIT, Circle-04, Jaipur

NITIN VIJAY,JAIPUR vs. ITO WARD 1(4), JAIPUR, JAIPUR

section 115BBE for\ntaxing the addition made of Rs. 1,71,28,000/- u/s 68 of the Act. The action of Id.\nCIT(A) is illegal unjustified arbitrary and against the facts of the case. Relief may\nplease be granted by deleting the addition of Rs. 1,71,28,000/-.\n3.\nThe assessee craves his right to add, amend

SANJAY LUNIA,AJMER vs. ITO WD-2(1), AJMER

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

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

68 read with section 115BBE, if the names and addresses of the buyers are not mentioned in the cash memo. d. A professional will have also to prove the nature and source of his receipts in a definite manner by maintaining the record on the basis of some norms. Thus considering the facts of the case I find that

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

In the result, appeal of the revenue is dismissed

50,00,000 On perusal of these documents the assessing officer was of the view that these loose papers appear to be related to cash loans/advances given by the assessee. The assessee was asked to explain the nature of these transactions along with source thereof. He was further asked to show cause, in absence of any proper justification

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

In the result, appeal of the revenue is dismissed

50,00,000 On perusal of these documents the assessing officer was of the view that these loose papers appear to be related to cash loans/advances given by the assessee. The assessee was asked to explain the nature of these transactions along with source thereof. He was further asked to show cause, in absence of any proper justification

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

In the result, appeal of the revenue is dismissed

50,00,000 On perusal of these documents the assessing officer was of the view that these loose papers appear to be related to cash loans/advances given by the assessee. The assessee was asked to explain the nature of these transactions along with source thereof. He was further asked to show cause, in absence of any proper justification

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

In the result, appeal of the revenue is dismissed

50,00,000 On perusal of these documents the assessing officer was of the view that these loose papers appear to be related to cash loans/advances given by the assessee. The assessee was asked to explain the nature of these transactions along with source thereof. He was further asked to show cause, in absence of any proper justification

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 /

section 68 on income of Rs. 6,45,810/- surrendered by the assessee in revised computation which is again illegal and deserves to be deleted. During the course of assessment proceedings the assessee came to know that his earlier counsel has inadvertently claimed deduction of 50

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)

section 68 on income of Rs. 6,45,810/- surrendered by the assessee in revised computation which is again illegal and deserves to be deleted. During the course of assessment proceedings the assessee came to know that his earlier counsel has inadvertently claimed deduction of 50

KALINDEE ESTATES PRIVATE LIMITED,JAIPUR vs. INCOME TAX OFFICER , JAIPUR

50,00,000/- made by Id.AO u/s\n68 of the Income Tax Act, by alleging the Share Application money received by\nassessee as bogus. Appellant prays that first proviso to Section 68

SANDEEP SETHI ,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX,CENTRAL CIRCLE-1,JAIPUR, JAIPUR

In the result, both the appeals of the assessee are allowed

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

68,69,69A,69B,69C or 69D. 12. The ld. DR is heard who has relied on the findings of the lower authorities as regards the addition sustained. As regards the charge of tax u/s. 115BBE he has vehemently argued that provision section 4 being the charging section does not support the contentions of the assessee so raised

RAJIV NIGOTIYA,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX,CENTRAL CIRCLE-1, JAIPUR

In the result, both the appeals of the assessee are allowed

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

68,69,69A,69B,69C or 69D. 12. The ld. DR is heard who has relied on the findings of the lower authorities as regards the addition sustained. As regards the charge of tax u/s. 115BBE he has vehemently argued that provision section 4 being the charging section does not support the contentions of the assessee so raised

RADHAKISHAN BENIWAL,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 1, JAIPUR, JAIPUR

In the result, the appeal filed by the assessee in ITA no

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

50. Further, the E-assessment Scheme, 2019 and faceless assessment scheme issued vide two notifications each dated 12-9-2019 and 13-8-2020 under Sections 143(3-A) and (3-B) of the Act clearly stipulate that the provision of Section 127 of the Act shall apply subject to exceptions, modifications and adaptations as stipulated therein

RADHAKISHNA BENIWAL,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 1, JAIPUR, JAIPUR

In the result, the appeal filed by the assessee in ITA no

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

50. Further, the E-assessment Scheme, 2019 and faceless assessment scheme issued vide two notifications each dated 12-9-2019 and 13-8-2020 under Sections 143(3-A) and (3-B) of the Act clearly stipulate that the provision of Section 127 of the Act shall apply subject to exceptions, modifications and adaptations as stipulated therein

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)

section 68 of the Act. To support his view ld. AO relied upon the decision of Hon'ble High Court of Delhi in the case of Commissioner of Income Tax-VI Vs. T. S. Kishan & Co. Ltd., [2014] 50

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

JITENDRA KUMAR TAHILRAMANI,JAIPUR vs. ITO WARD-2, JAIPUR., JAIPUR

Bench: Him.

68 of the Income Tax Act, 1961. 2. In the facts and circumstances of the case and in law, Id. CIT(A)NFAC has erred in confirming the action of the Id. AO, in invoking provisions of Section 115BBE of the Income Tax Act, 1961. The action of the Id. CIT(A)/NFAC is illegal, unjustified, arbitrary and against

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.\n■ the assessee is expected to establish to the satisfaction of the Assessing Officer:\nProof of identity of the creditors;\nCapacity of creditors to advance money; and\nGenuineness of transaction\n■ This Court in the land mark case of Kale Khan Mohammad Hanif v. CIT [1963] 50