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

In the result, appeal of the revenue is dismissed

section 68 of I.T. Act, 1961). 10. While making the assessment order the assessing officer has also added a sum of Rs. 12,46,718/- as bogus agricultural income for the year under consideration. The relevant observation of the assessing and submission on this issue is extracted here in below for the sake of brevity Bogus agricultural income claimed

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

In the result, appeal of the revenue is dismissed

section 68 of I.T. Act, 1961). 10. While making the assessment order the assessing officer has also added a sum of Rs. 12,46,718/- as bogus agricultural income for the year under consideration. The relevant observation of the assessing and submission on this issue is extracted here in below for the sake of brevity Bogus agricultural income claimed

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

In the result, appeal of the revenue is dismissed

section 68 of I.T. Act, 1961). 10. While making the assessment order the assessing officer has also added a sum of Rs. 12,46,718/- as bogus agricultural income for the year under consideration. The relevant observation of the assessing and submission on this issue is extracted here in below for the sake of brevity Bogus agricultural income claimed

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

In the result, appeal of the revenue is dismissed

section 68 of I.T. Act, 1961). 10. While making the assessment order the assessing officer has also added a sum of Rs. 12,46,718/- as bogus agricultural income for the year under consideration. The relevant observation of the assessing and submission on this issue is extracted here in below for the sake of brevity Bogus agricultural income claimed

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, Section 69, Section 69A, Section 69B, Section 69C or Section 69D, at the rate of 30% (plus surcharge and cess), without allowing any deduction for any expenditure or allowance. Sandeep Sethi & Ors. C.2. Thereafter, the provisions of sub-section (1) of Section 115BBE were substituted by Taxation Laws (Second Amendment

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, Section 69, Section 69A, Section 69B, Section 69C or Section 69D, at the rate of 30% (plus surcharge and cess), without allowing any deduction for any expenditure or allowance. Sandeep Sethi & Ors. C.2. Thereafter, the provisions of sub-section (1) of Section 115BBE were substituted by Taxation Laws (Second Amendment

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 taxmann.com 368 (Delhi) and decision of Hon'ble High Court of Calcutta in the case of Shankar Industries Vs. Commissioner

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

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

section 68 and added it\nto income of assessee On appeal, Commissioner (Appeals) deleted addition\nOn revenue's appeal to Tribunal, assessee showed that 111 deposits of Rs.\n19,000/- each in cash were made in bank account of 'D' Ltd. which were converted\ninto drafts and in this manner 'D' Ltd. subscribed to share application of assessee\ncompany

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

68 of the Act as under:\nA).\nIdentity of the Creditors;\nB).\nGenuineness of the Transaction and\nC).\nCreditworthiness of the Party.\n6. These three elements are the basic pillars/conditions to be fulfilled by\nthe assessee to avoid the chargeability of tax u/s.68 of the Act. Rather, now\nthe proviso went one step ahead by including the creditors also

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

68 of the Act as under:\nA).\nIdentity of the Creditors;\nB).\nGenuineness of the Transaction and\nC).\nCreditworthiness of the Party.\n6. These three elements are the basic pillars/conditions to be fulfilled by\nthe assessee to avoid the chargeability of tax u/s.68 of the Act. Rather, now\nthe proviso went one step ahead by including the creditors also

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

68 of the Act as under:\nA).\nIdentity of the Creditors;\nB).\nGenuineness of the Transaction and\nC).\nCreditworthiness of the Party.\n6. These three elements are the basic pillars/conditions to be fulfilled by\nthe assessee to avoid the chargeability of tax u/s.68 of the Act. Rather, now\nthe proviso went one step ahead by including the creditors also

PADMAVATI AGRICO (INDIA) PVT LTD,AJMER vs. ACIT CIRCLE - 1, AJMER

In the result, the appeal of the assessee is allowed

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

66-67 f. Copy of company master data as on 31.03.2009 & 31..03.2015 68-69 15 Padmavati Agrico (India) Pvt. Ltd. vs. ACIT g. Copy of Confirmations & Affidavit 70-73 2. Copy of documentary evidences to prove identity, creditworthiness and genuineness of M/s Anchal Properties Pvt. Ltd. a. Copy of Share application form 74-75 b. Copy of Board Resolution

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

66,901,559 48,021,259 72% 19.30% 3.13% 2017-18 2018-19 45,014,870 22,334,502 50% 23.73% 1.95% 2018-19 2019-20 42,790,657 15,239,611 36% 24.88% 1.78% The addition under section 68 on account of cash deposits could not be made simply on the reason that during the demonetization period, cash

INCOME TAX OFFICER, BUNDI vs. M/S ARAVALI PRIME CONSULTANTS PVT. LTD., BUNDI

In the result, the appeal filed by the Revenue is dismissed with no order as to cost

Bench: The Ld. Cit(A) Who After Considering The Case Of Both The Parties

section 68, the onus of proving the identity, genuineness 86 creditworthiness of the subscribers had been discharged by the assessee before the A.O. However, once the onus shifted upon the A.O. he failed to discharge his own burden by carrying out independent enquiries. If the A.O. had any doubts regarding the source of investment of the subscribers, he could

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)

68, 69, 69A, 69B, 69C or 69D), its taxability cannot be determined in terms of section 115BBE. Under the circumstances, the appellant prays that ld.CIT(A) has rightly held that provisions of 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

M/S. ROYAL JEWELLERS,JAIPUR vs. DCIT, CENTRAL CIRCLE, JAIPUR

In the result, appeal of the assessee in ITA No

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

68, 69, 69A, 69B, 69C or 69D), its taxability cannot be determined in terms of section 115BBE. Under the circumstances, the appellant prays that ld.CIT(A) has rightly held that provisions of 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

M/S. ROYAL JEWELLERS,JAIPUR vs. DCIT, CENTRAL CIRCLE, JAIPUR

In the result, appeal of the assessee in ITA No

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

68, 69, 69A, 69B, 69C or 69D), its taxability cannot be determined in terms of section 115BBE. Under the circumstances, the appellant prays that ld.CIT(A) has rightly held that provisions of 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