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

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)

76,250 and income tax has been deposited on such income. Hence, Section 68 per se cannot be invoked

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

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

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 /

68 on income of Rs. 645810/- surrendered by the assessee in revised computation which is again illegal and deserves to be deleted. 5. That in the facts and circumstances of the case and in law the learned CIT Appeal has erred in passing the order in the name of deceased persons in-spite of the fact that this fact

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)

68 on income of Rs. 645810/- surrendered by the assessee in revised computation which is again illegal and deserves to be deleted. 5. That in the facts and circumstances of the case and in law the learned CIT Appeal has erred in passing the order in the name of deceased persons in-spite of the fact that this fact

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)

76,59,000/- deposited in bank account in the demonetized currency as bogus sale and directed to reduce the same from total sales shown by the appellant and add the same under income from other sources by applying the provisions of section 68

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

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)

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 76-77 c. Copy of PAN Card 78 d. Copy of Bank Statement

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)

76,500/- on account of unexplained cash deposited in bank accounts alleging the same to be income chargeable to tax u/s 69A without appreciating the facts of the case and the scope of provisions of above section. 9. That on the facts and circumstances of the case and in law, the ld. lower authorities has grossly erred in making

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)

76,500/- on account of unexplained cash deposited in bank accounts alleging the same to be income chargeable to tax u/s 69A without appreciating the facts of the case and the scope of provisions of above section. 9. That on the facts and circumstances of the case and in law, the ld. lower authorities has grossly erred in making

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 r.w.s. 115BBE of the Act. The appellant has challenged the addition in the appeal. The appellant has inter- alia submitted that the cash sale from the stock available with the appellant and during the year the appellant adopted new strategy during the month of October 2016 which resulted into high sales for them and further that high

RSD CONTAINERS PRIVATE LIMITED,JAIPUR vs. ITO, WARD 7(1), JAIPUR, JAIPUR

In the result, the appeal of the assessee is allowed

68 r.w.s. 115BBE. Reject plea for peak credit, unabsorbed depreciation, and MAT credit set-off. The ld. DR vide submission dated 14.07.2025 further submitted as under : I. Limitation Period Under Section 149(1)(b) is Fully Alive The assessee has contended that the reassessment proceedings are barred by limitation. However, this contention is devoid of merit in view

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

In the result, appeal of the revenue is dismissed

section 115BBE of the Act will have no application so as to treat the income of the assessee as income from other sources. As in the case of CIT Vs. Associated Transport Pvt. Ltd. [1994 (1) TMI 18 - CALCUTTA HIGH COURT] on identical facts took the view that when cash sales are admitted and income from sales are declared

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)

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

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

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)

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