VAIBHAV GLOBAL LIMITED,JAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-5, JAIPUR

In the result, the penalty is directed to be deleted and appeal of the assessee is allowed

6. In view of above stated facts and legal position, the assessee under consideration is, clearly liable for penalty u/s 271(1)(c) of the Act is imposed upon him as per following computation:- Total undisclosed/concealed income liable to penalty Rs. 1,34,025 u/s 271(1)(c) Penalty imposable (100% of tax sought to evaded) Rs. 45,555/- Penalty

VAIBHAV GLOBAL LIMITED,JAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-5, JAIPUR

In the result, the penalty is directed to be deleted and appeal of the assessee is allowed

6. In view of above stated facts and legal position, the assessee under consideration is, clearly liable for penalty u/s 271(1)(c) of the Act is imposed upon him as per following computation:- Total undisclosed/concealed income liable to penalty Rs. 1,34,025 u/s 271(1)(c) Penalty imposable (100% of tax sought to evaded) Rs. 45,555/- Penalty

RAMESH CHAND BANSAL,BEAWAR vs. DCIT, AJMER

In the result, the appeals of the assessee are allowed

6 Shri Ramesh Chand Bansal vs DCIT, Central Circle, Ajmer 13-10-2010 i.e. after the due date for filing the return 31-07-2008. That makes the explanation 5A to section 271(1)(c ) of the Act clearly applicable. 5.6 Even no return was filed u/s 139. The total income returned in the return in response to Notice

M/S. RAMBHOJO'S,JAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, JAIPUR

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

6) TMI 1311 and Shri Suresh Chand Mittal Vs. DCIT, Central Circle-2, Jaipur, 2018 (7) TMI 220. Thus, it was submitted that the order of imposing penalty under section 271AAB is unlawful and not sustainable in law. 14. It was finally submitted that it is trite law that penalties should not be imposed unless the case falls under

ARAVALI BUILDHOMES LLP,JAIPUR vs. AO CPC, JAIPUR

In the result, the appeal of the assessee is allowed

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

68 taxmann.com 298 (Kerala), the Kerala High Court held that a return filed by assessee beyond period stipulated under section 139(1) or 139(4) or under section 142(1) or section 148 can also be accepted and acted upon for entertaining claim raised under section 80P provided further proceedings in relation to such assessments

DIESH KUMAR GOYAL,KOTA vs. ITO, WARD-1(1), KOTA, KOTA

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

1)(c) cannot be levied on deemed income under section\n69.\n4.10 In view of the above facts and case laws, the penalty imposed by the AO and\nconfirmed by the Ld.CIT(A) may kindly be deleted.\n8.\nPer contra, ld. DR heavily relied on the contention so recorded in\nthe orders of the lower authorities and argued that

SHRI RAJENDRA AGRAWAL,KOTA vs. DEPUTY COMMISSIONER OF INCOME TAX , KOTA

In the result, appeal of the assessee is allowed and the appeal of the revenue

68,470/- on account of Long Term Capital Gain and commission charges of Rs. 9,000/-. The assessment was completed under section 143(3) read with section 153B of the IT Act at the total income of Rs. 12,24,18,200/-. The AO then initiated the proceedings for levy of penalty under section 271AAB

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)

c). In so far as the case on hand, clause (a) of section 251(1) of the Act should be relevant, which states in an appeal against the order of assessment the Commissioner (Appeals) may confirm, reduce, enhance or annul the assessment. On a reading of the Finance Act, 2001 (Circular No. 14 of2001) the Commissioner of Appeals

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)

c). In so far as the case on hand, clause (a) of section 251(1) of the Act should be relevant, which states in an appeal against the order of assessment the Commissioner (Appeals) may confirm, reduce, enhance or annul the assessment. On a reading of the Finance Act, 2001 (Circular No. 14 of2001) the Commissioner of Appeals

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

6 months has to be reckoned from that\ndate. Consequently, the limitation from that date the limitation had already expired.\n7.2 After careful consideration, I find that the issue involved in the present case is fully\ncovered by the decision of Hon'ble Jurisdictional High Court in the case of Hissaria Bros.\n(supra). The same has been affirmed

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOTA vs. SMT. JYOTI AGARWAL, KOTA

In the result, appeal of the revenue is dismissed

Section 271(1)(c) of the Act. The ld AR has also referred series of decisions including the decision of 9 DCIT Vs Jyoti Agarwal Hon’ble Supreme Court in the case of CIT V. Reliance Petro Products Pvt. Ltd (2010) 322 ITR 158 (SC) and submitted that even if the claim of exemption

DEPUTY COMMISSIONER OF INCOME TAX , KOTA vs. SHRI RAJENDRA AGRAWAL, KOTA

In the result, appeal of the revenue is dismissed

Section 271(1)(c) of the Act. The ld AR has also referred series of decisions including the decision of Hon’ble Supreme Court in the case of CIT V. Reliance Petro Products Pvt. 9 DCIT Vs Rajendra Agarwal Ltd (2010) 322 ITR 158 (SC) and submitted that even if the claim of exemption

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

6 months has to be reckoned from that\ndate. Consequently, the limitation from that date the limitation had already expired.\n7.2 After careful consideration, I find that the issue involved in the present case is fully\ncovered by the decision of Hon'ble Jurisdictional High Court in the case of Hissaria\nBros. (supra). The same has been affirmed

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

section 263 or section 264, after the expiry of six months from the end of\nthe month in which such order of revision is passed,\n(c) in any other case, after the expiry of the financial year in which the proceedings, in the\ncourse of which action for the imposition of penalty has been initiated, are completed

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

6 months has to be reckoned from that\ndate. Consequently, the limitation from that date the limitation had already expired.\n7.2 After careful consideration, I find that the issue involved in the present case is fully\ncovered by the decision of Hon'ble Jurisdictional High Court in the case of Hissaria Bros.\n(supra). The same has been affirmed

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)

c) it would be the date on which the AO wrote a letter to the ACIT recommending the issuance of the SCN. While it is true that the ACIT had the discretion whether or not to issue the SCN, if he did decide to issue a SCN, the limitation would begin to run from the date of letter

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)

c) it would be the date on which the AO wrote a letter to the ACIT recommending the issuance of the SCN. While it is true that the ACIT had the discretion whether or not to issue the SCN, if he did decide to issue a SCN, the limitation would begin to run from the date of letter

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

6 months has to be reckoned from that\ndate. Consequently, the limitation from that date the limitation had already expired.\n7.2 After careful consideration, I find that the issue involved in the present case is fully\ncovered by the decision of Hon'ble Jurisdictional High Court in the case of Hissaria Bros.\n(supra). The same has been affirmed