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)

transferred by Shri Shri Madho Lal Saini and Others. Madan Mohan Gupta and his wife Smt. Shashi Kala Gupta were the shares of M/s Kalyan Buildmart Pvt. Ltd. which owned the land in question. There may be a case of under valuation of shares and understatement of consideration paid by the assessee however, it is not a case of purchase

DEPUTY COMMISSINER OF INCOME TAX, LIC BUILDING vs. M/S GEE VEE DEVELOPERS PVT. LTD., JAIPUR

In the result, the appeals of the revenue stands dismissed

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

transfer of capital asset. Also section 45(5) of the I.T.Act, 1961 is related to capital gain in case of compulsory acquisition of land which is applicable in this case. Hence, the assessee’s theory of ‘shifting of land’ is nowhere described nor application in case in view of the facts as narrated above. 2. The compensation received

DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-3, JAIPUR vs. M/S CHOKHI DHANI DEVELOPERS PVT. LTD., JAIPUR

In the result, the appeals of the revenue stands dismissed

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

transfer of capital asset. Also section 45(5) of the I.T.Act, 1961 is related to capital gain in case of compulsory acquisition of land which is applicable in this case. Hence, the assessee’s theory of ‘shifting of land’ is nowhere described nor application in case in view of the facts as narrated above. 2. The compensation received

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3, JAIPUR vs. M/S VISION ESTATES PVT. LTD., JAIPUR

In the result, the appeals of the revenue stands dismissed

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

transfer of capital asset. Also section 45(5) of the I.T.Act, 1961 is related to capital gain in case of compulsory acquisition of land which is applicable in this case. Hence, the assessee’s theory of ‘shifting of land’ is nowhere described nor application in case in view of the facts as narrated above. 2. The compensation received

DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-3, JAIPUR vs. M/S RIGID CONDUCTORS (RAJ.) PVT. LTD., JAIPUR

In the result, the appeals of the revenue stands dismissed

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

transfer of capital asset. Also section 45(5) of the I.T.Act, 1961 is related to capital gain in case of compulsory acquisition of land which is applicable in this case. Hence, the assessee’s theory of ‘shifting of land’ is nowhere described nor application in case in view of the facts as narrated above. 2. The compensation received

DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-3, JAIPUR vs. SAPNA KARNANI, TONK PHATAK

In the result, the appeals of the revenue in ITA No

transferred from the lenders' respective bank accounts,\nwhich is a significant factor in establishing their capacity to lend.\n13.2 The Income Tax Appellate Tribunal (ITAT) in Gopal Krishan v. ACIT, ITA\nNo. 892/JP/2019, underscores this principle by affirming that when the source of\nfunds can be traced back to the bank accounts of the lenders, the onus of\nproving their

INCOME TAX OFFICER , SIKAR vs. BHASKAR CHAUHAN, JAIPUR

In the result the appeal of the revenue in ITA no

Bench: Him.

153A, 153C in cases of search or requisition has an overriding effect to the regular provisions for assessment or reassessment under Sections 139,147,148,149,151 & 153. " In view of the above discussion, the assessment completed u/s 144 deserves to be quashed. The order of the Learned CIT(A) also deserved to be quashed on this ground. Additional Ground

DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-3, JAIPUR vs. SAPNA KARNANI, TONK PHATAK

In the result, the appeals of the revenue in ITA No

transferred from the lenders' respective bank accounts,\nwhich is a significant factor in establishing their capacity to lend.\n\n13.2 The Income Tax Appellate Tribunal (ITAT) in Gopal Krishan v. ACIT, ITA\nNo. 892/JP/2019, underscores this principle by affirming that when the source of\nfunds can be traced back to the bank accounts of the lenders, the onus of\nproving

DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-3, JAIPUR vs. SAPNA KARNANI, TONK PHATAK

In the result, the appeals of the revenue in ITA No

transferred from the lenders' respective bank accounts,\nwhich is a significant factor in establishing their capacity to lend.\n13.2 The Income Tax Appellate Tribunal (ITAT) in Gopal Krishan v. ACIT, ITA\nNo. 892/JP/2019, underscores this principle by affirming that when the source of\nfunds can be traced back to the bank accounts of the lenders, the onus of\nproving their

DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-3, JAIPUR vs. KARNANI SOLVEX PRIVATE LIMITED, JAIPUR

In the result, the appeals of the revenue in ITA No

transferred via cheques or bank transfers, ensuring a transparent\naudit trail. Importantly, there were no outstanding balances associated\nwith these transactions at any point, indicating that loans were duly\nrepaid in subsequent years. This factor is pivotal in establishing the\ngenuneness of the transactions, as it reflects a legitimate business\npractice rather than an attempt to camouflage undisclosed income

PRAMILA AGARWAL,JAIPUR vs. THE INCOME TAX OFFICER WARD-2(5), JAIPUR

In the result, the appeal of the assessee is allowed

153A, 153C and 147/148\nof the Act as well as a consistent view taken by this Tribunal in a series of decision\ncited (supra) we hold that the assessment or reassessment of income of the person\nother than search persons based on seized material can be only made u/s 153C\nr.w.s.153A and the provisions of section 147/148

ANSHU SAHAI (HUF),JAIPUR vs. ACIT, CENTRAL CIRCLE, CENTRAL CIRCLE

153A \nof the Income Tax Act, 1961, the limitation for completing the assessment in the \ncase of \"other person\" would start running under 3rd proviso to section 153B (1) \nof the Income Tax Act, 1961.\n(iv) In case the search and seizure action takes place in last week of March 2021 \nand the seized material is transferred

JUHI BHANDARI, JAIPUR,JAIPUR vs. DCIT CIRCLE (INTL TAX), JAIPUR, JAIPUR

In the result, both appeals of the assessee are allowed

transfer\npricing orders wherein downward adjustments were made to the price\npaid for the equipment imported by the AE. The Assessee had filed an\nappeal to this Tribunal against the appellate order for Assessment Year\n2013-14 (arising from the assessment under Section 143(3) and the TPO\norder). This appeal was disposed in RKM POWERGEN PRIVATE\nLIMITED

SONU DUSAD,JAIPUR vs. DCIT CENTRAL CIRCLE, 1, JAIPUR, JAIPUR

In the results, the appeal of the assessee in ITA no

Bench: This Tribunal Are As Under :

Pricing Officer passed under sub-section (3) of section 92CA; and (ii) any non-resident not being a company, or any foreign company: 11. From the bare reading of the above-mentioned provisions of Section 144C, it is evident that the Assessing Officer must forward a draft of the proposed assessment order to the eligible assessee if any variation

SONU DUSAD,JAIPUR vs. DCIT CENTRAL CIRCLE, 1, JAIPUR, JAIPUR

In the results, the appeal of the assessee in ITA no

Bench: This Tribunal Are As Under :

Pricing Officer passed under sub-section (3) of section 92CA; and (ii) any non-resident not being a company, or any foreign company: 11. From the bare reading of the above-mentioned provisions of Section 144C, it is evident that the Assessing Officer must forward a draft of the proposed assessment order to the eligible assessee if any variation

SONU DUSAD,JAIPUR vs. DCIT CENTRAL CIRCLE, 1, JAIPUR, JAIPUR

In the results, the appeal of the assessee in ITA no

Bench: This Tribunal Are As Under :

Pricing Officer passed under sub-section (3) of section 92CA; and (ii) any non-resident not being a company, or any foreign company: 11. From the bare reading of the above-mentioned provisions of Section 144C, it is evident that the Assessing Officer must forward a draft of the proposed assessment order to the eligible assessee if any variation

SONU DUSAD,JAIPUR vs. DCIT CENTRAL CIRCLE, 1, JAIPUR, JAIPUR

In the results, the appeal of the assessee in ITA no

Bench: This Tribunal Are As Under :

Pricing Officer passed under sub-section (3) of section 92CA; and (ii) any non-resident not being a company, or any foreign company: 11. From the bare reading of the above-mentioned provisions of Section 144C, it is evident that the Assessing Officer must forward a draft of the proposed assessment order to the eligible assessee if any variation

SONU DUSAD,JAIPUR vs. DCIT CENTRAL CIRCLE, 1, JAIPUR, JAIPUR

In the results, the appeal of the assessee in ITA no

Pricing Officer passed under sub-section (3)\nof section 92CA; and\n(ii) any non-resident not being a company, or any foreign company:\n11. From the bare reading of the above-mentioned provisions of Section\n144C, it is evident that the Assessing Officer must forward a draft of the proposed\nassessment order to the eligible assessee if any variation

NAVAL KISHORE ,KOTA vs. ACIT DCIT, CENTRAL CIRCLE, KOTA, KOTA

transferred\n\nthe profit even then, there is absolutely no evidence brought in record\nas to when and in what mariner such profit was paid to the appellant.\nSince the onus is on the Revenue, hence it is bound to prove the\nreceipt of income.\nThe argument of the appellant are considered. The claim of the\nappellant is contradictory