SHREE CEMENT LIMITED,BEAWAR vs. NATIONAL FACELESS ASSESSMENT CENTRE, DELHI

In the result, the appeal of the Revenue in ITA No

Bench: or at the time of hearing of this appeal.

Section 80IA(8), the word "OR" is missing in provisions of Section 80A(6) of the ACIT vs. Shree Cement Ltd. Act. It is noted that as per provisions of Section 80A(6), if any goods or services whether sold or acquired falls within the category specified domestic transactions of Section 92BA then in such case it is mandatory

PROFESSIONAL AUTOMOTIVES PRIVATE LIMITED,JAMMU vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, JAIPUR

In the result the appeal of the assessee in ITA no

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI, आयकर अपील /ITA Nos.809 to 815/JP/2025 निर्धारण वर्ष /Assessment Years :2013-14 to 2019-20 Professional Automotives Pvt. बनाम ACIT, Ltd. Bahu Plaza, Bahu Plaza, Jammu Vs. Central Circle- 1, and Kashmir Jaipur स्थायी लेखा सं./जी.आई.आर. सं./PAN/GIR No.:AAACP9608E अपीलार्थी/Appellant प्र]त्यर्थी/Respondent निर्धारिती की ओर से / Assessee by :Shri Tarun Mittal, CA राजस्व की ओर से /Revenue by: Shri Ajey Malik, CIT (Th. V.C)

Section 194 and 200 were challenged. It was noted in P. RatnakarRao and others V. Govt. Of A.P. and others (1996 (5) SCC 359) that the discretion given under Section 200(1) to the State Government to prescribe maximum rates for compounding the offence is not unguided, uncanalised and arbitrary. It was, inter alia, held as follows: ……………….. ………………. It is indisputable

JAIPAL SINGH,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, JAIPUR

price of the immovable property was Rs.40 lakhs. In the\ncourse of search action it has been found that the appellant has been regularly\nindulging in transactions of sale and purchase of immovable properties and it\ncannot be said that he is not having other sources of income and he has been\nearning income as middleman and income as gain

SHREE CEMENT LIMITED,BANGUR NAGAR vs. ACIT, CENTRAL CIRCLE, AJMER

In the result, the appeal of the assessee - appellant in ITA No

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

sections (4) to (10) and as increased by the applicable surcharge, for the purposes of the Union, calculated in the manner provided therein, shall be further increased by an additional surcharge, for the purposes of the Union, to be called the “Health and Education Cess on income-tax”, calculated at the rate of four per cent of such income

JAIPAL SINGH,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, JAIPUR

price of the immovable property was Rs.40 lakhs. In the\ncourse of search action it has been found that the appellant has been regularly\nindulging in transactions of sale and purchase of immovable properties and it\ncannot be said that he is not having other sources of income and he has been\nearning income as middleman and income as gain

JAIPAL SINGH,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, JAIPUR

price of the immovable property was Rs.40 lakhs. In the\ncourse of search action it has been found that the appellant has been regularly\nindulging in transactions of sale and purchase of immovable properties and it\ncannot be said that he is not having other sources of income and he has been\nearning income as middleman and income as gain

JAIPAL SINGH,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, JAIPUR

price of the immovable property was Rs.40 lakhs. In the\ncourse of search action it has been found that the appellant has been regularly\nindulging in transactions of sale and purchase of immovable properties and it\ncannot be said that he is not having other sources of income and he has been\nearning income as middleman and income as gain

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 have

KAILASH CHAND MAHESHWARI,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX , JAIPUR

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

section 57 (iii) of the Act. We thus decline to interfere with the action of the Assessing Officer and the First Appellate Authority." The onus is on the appellant to show one-to-one matching and prove that the interest expenditure for the borrowed funds have been used wholly and exclusively only for the purpose of making investments which have

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

4,80,21,259 during the year under appeal. At the same time the non-cash sale is almost in the similar rage in each year in the years FY 2014-15 to FY 2018-19. The drastically diminishing cash sales in subsequent periods further proves that there was no 10 MOHAN LAL ASHOK KUMAR SARRAF VS DCIT, CENTRAL CIRCLE

KAILASH CHAND MAHESHWARI,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX,CENTRALCIRCLE-2, JAIPUR

section 57 (iii) of the Act. We thus decline to\ninterfere with the action of the Assessing Officer and the First Appellate Authority.\"\nThe onus is on the appellant to show one-to-one matching and prove that the\ninterest expenditure for the borrowed funds have been used wholly and exclusively\nonly for the purpose of making investments which have

VIRENDRA PRAKASH SHARMA,JAIPUR vs. DCIT CIRCLE (INTL TAX), JAIPUR, JAIPUR

In the result, the appeal of the assessee is allowed

Section 68 vis-à-vis\nSection 69. If a credit entry is found in books of the assessee, entire burden lies on\nthe assessee to prove identity, credit-worthiness and genuineness of the said\ncreditor.\n\n• As against this, if any on-money payment is alleged to be in the name of the\nassessee which as per the Department

RITIKA VEGETABLE OIL PRIVATE LIMITED,JAIPUR vs. ACIT CENTRAL CIRCLE, ALWAR

In the result, the appeal of the assessee is allowed

Bench: Ld. Cit(A) Against The Order Dated 21.12.2018 Passed Under Section 143(3)Of The Income Tax Act, By Acit, Central Circle, Alwar [ For Short Ao].

section 11 and 12 is also not eligible to the appellant on account of misuse of the trust structure for non- chartiable/personal benefits. (viii) In view of the detailed discussion the appellant is not entitled to exemption benefit regarding the money collected as dharmada and thus not entitled to relief on this ground and the appeal of the appellant

SHRI MADHO LAL SAINI,JAIPUR vs. ITO, WARD-2(3), JAIPUR

In the result, the appeals of the assessees are allowed

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

134] is set out here under for the sake of ready reference. 1.5. Merely on the basis of such information ld. AO reopened the case of the assessee, without having any other corroborative evidence or without recording any satisfaction of ‘on money’, in the form of cash, having been paid by the assessee for purchase of the properties

SHREE CEMENT LIMITED,BEAWAR vs. PR.CIT, , UDAIPUR

In the result, the appeal of the assessee is allowed

Bench: Shri Sandeep Gosain, Jm & Shri Vikram Singh Yadav, Am Vk;Dj Vihy La-@Ita No. 04/Jp/2021 Assessment Year: 2014-15 Shree Cement Limited, Cuke Pr.Cit, Vs. Bangur Nagar, Post Box No. 33, Udaipur. Beawar. Pan No.: Aaccs 8796 G Vihykfkhz@Appellant Izr;Fkhz@Respondent Fu/Kzkfjrh Dh Vksj Ls@ Assessee By: Shri Dilip Desai (Ca) Shri Vijay Shah (Ca) Shri Mohit Choudhary (Ca) Jktlo Dh Vksj Ls@ Revenue By : Shri B.K. Gupta (Cit-Dr) Lquokbz Dh Rkjh[K@ Date Of Hearing : 01/04/2021 Mn?Kks"K.Kk Dh Rkjh[K@ Date Of Pronouncement : 23/06/2021 Vkns'K@ Order Per: Sandeep Gosain, J.M. The Present Appeal Has Been Filed By The Assessee Against The Order Of Ld. Pcit, Udaipur Dated 03.02.2021 Passed U/S 263 Of The Income Tax Act, 1961 (In Short The Act) For The Assessment Year 2014-15. The Grounds Of Appeal Taken By The Assessee Are As Under: “1. That On The Facts & In The Circumstances Of The Case, The Learned Principal Commissioner Of Income Tax – Udaipur, (Here- In- After Referred To As Ld. Pr. Cit) Was Not Justified In Initiating Proceedings U/S 263 Of The Income Tax Act, 1961 Since The Order Passed By The Assessing Officer (A.O.) Was Neither Erroneous Nor Prejudicial To The Interest Of The Revenue.

Transfer Pricing proceedings went on for a period of 30 months by 3 different AOs. During this period, four notices u/s 142(1) were issued by the A.O. dated 04-12-2015 raising 12 queries (PB Pg. No. 257), 04-01-2016 raising 29 queries (PB Pg. No. 17-20), 09-11-2016 raising 10 queries

DCIT, JAIPUR vs. AMRAPALI JEWELS PVT. LTD. , JAIPUR

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

Bench: Him.

pricing etc. and item quantitative control on staff. In the tax audit report no quantitative details are mentioned. This list is in the nature of undisclosed records or incriminating material unearthed during the survey. (xiv) The appellant has claimed that the valuation should have been by the official valuers for each item separately of the taking into consideration the exact

KAILASH CHAND MAHESHWARI,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, , JAIPUR

section 57 (iii) of the Act. We thus decline to\ninterfere with the action of the Assessing Officer and the First Appellate Authority.\"\nThe onus is on the appellant to show one-to-one matching and prove that the\ninterest expenditure for the borrowed funds have been used wholly and exclusively\nonly for the purpose of making investments which have

SPECTRUM FOODS LIMITED,JAIPUR vs. INCOME TAX OFFICER, JAIPUR

In the result, the appeal of the assessee is allowed

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

price is received. In the case of the assessee, M/s Maverick Share Brokers Ltd. and M/s Riddhi Broker Pvt. Ltd. amended the original client code and paid the assessee an amount of Rs. 56,73,632/-, on which 2 percent amount was Rs. 1,13,472/- Commission deemed to be paid out of income from unexplained sources Income