SHREE CEMENT LIMITED,BEAWAR vs. NATIONAL FACELESS ASSESSMENT CENTRE, DEPUTY COMMISSIONEROF INCOME TAX, CIRCLE -2, AJMER, AJMER

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

ACIT, CENTRAL CIRCLE, AJMER, AJMER vs. WONDER CEMENT LTD, MADANGANJ-KISHANGARH

In the result Ground No. 2 raised by the assessee is allowed

Bench: Shri Gagan Goyal & Shri Narinder Kumar

section 115JB of the Act. The case of the assessee was selected for scrutiny through CASS. During the year under consideration the assessee was engaged in the business of cement production in the name and style of M/s. Wonder Cements Ltd. The case was selected for scrutiny to examine “the reasons related to specified domestic transactions under the T.P. Risk

MARIE PRODUCTS PRIVATE LIMITED,JAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE 7, JAIPUR

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

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

transferred under sub-section (8)], on or after the 1st day of April, 2021, shall be non est if such assessment is not made in accordance with the procedure laid down under this section." (emphasis supplied) 14. Keeping in view the aforesaid, this Court is of the opinion that learned counsel for the petitioner is correct in submitting that Section

AJAY BAKLIWAL,KOTA vs. ACIT, CENTRAL CIRCLE, KOTA, KOTA

234 (Kerala)/[2016] 240 Taxman 168 (Kerala)/[2016] 385 ITR 624 \n(Kerala)/[2016] 287 CTR 187 (Kerala) (22-03-2016] as under-\n\"Neither under section 132 or under section 153A, is the phraseology \n\"incriminating used by the Parliament Therefore, any material which was unearthed \nduring search operations or any statement made during the course of search

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.

section 263 by the Commissioner proper and valid. [Para 16] (c) In the case of Jeevan Investment & Finance (P.) ltd. Vs CIT [2017] 88 taxmann.com 552 (Bombay], it has been held by the Hon'ble High Court that: " ..... merely asking a question which goes to the root of the matter and not carrying it further is a case

RAJASTHAN EXPORT PROMOTION COUNCIL,JAIPUR vs. CIT (EXEMPTION), JAIPUR, JAIPUR

In the result, appeal of the assessee is allowed for statistical\npurpose

234, the other in Indian Chamber of Commerce v. CIT [1975]\n101 ITR 796 and the third in Addl. CIT v. Surat Art Silk Cloth\nManufacturers Association [1980] 121 ITR l/[1980] 2 Taxman 501,\nwhere the speech made by the Finance Minister, while introducing the\nexclusionary clause in section 2(15) of the Act, was relied upon

M/S RAMAVTAR KRISHANAVTAR,KOTA vs. INCOME TAX OFFICER, KOTA

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

Bench: Hon’ble SHRI SANDEEP GOSAIN (Judicial Member)

234,410/- was filed on 28-11-2014 by the assessee. The case of the assessee was selected for scrutiny under CASS. Notice u/s 143(2) of the Act was issued to the assessee on 28-08-2015 which was served upon the assessee on 14-09-2015. Notices u/s 143(2) and 142(1) alongwith questionnaire was also sent

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

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

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

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)

234 (Kerala)/[2016] 240 Taxman 168 (Kerala)/[2016] 385 ITR 624 (Kerala)/[2016] 287 CTR 187 (Kerala) [22-03-2016] "18. On going through Section 132 of the Income Tax Act, what we find is that if the authority specified therein has reason to believe that any person to whom a summons under sub-section (1) of section

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

234 (Kerala)/[2016] 240\nTaxman 168 (Kerala)/[2016] 385 ITR 624 (Kerala)/[2016] 287 CTR 187\n(Kerala) (22-03-2016) as under-\n\"Neither under section 132 or under section 153A, is the phraseology\n\"incriminating\" used by the Parliament Therefore, any material which was\nunearthed during search operations or any statement made during the course\nof search

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOTA vs. SH. NAVAL KISHORE, KOTA

234 (Kerala)/[2016] 240 \nTaxman 168 (Kerala)/[2016] 385 ITR 624 (Kerala)/[2016] 287 CTR 187 \n(Kerala) (22-03-2016) as under- \n\"Neither under section 132 or under section 153A, is the phraseology \n\"incriminating\" used by the Parliament Therefore, any material which was \nunearthed during search operations or any statement made during the course \nof search

SHRI MANOJ KUMAR,JAIPUR vs. INCOME TAX OFFICER, JAIPUR

In the result, the ground of appeal is allowed for statistical purposes

price lower than the value adopted by the Stamp valuation authority. During the course of assessment proceedings, the property was referred for valuation to DVO u/s 50C(2). Ld. AO while computing the capital gain on sale of above inherited residential properties, substituted the transaction value with the valuation done by Stamp Valuation Authority, being lower than the valuation made

M/S DEEPS SPECIAL STEELS LIMITED,LUDHIANA vs. DCIT, CIRCLE-1, ALWAR

Bench: SHRI GAGAN GOYAL (Accountant Member), SHRI NARINDER KUMAR (Judicial Member)

section 50C were not attracted in the case of lease hold property, and the assessee was found to have taken said land on lease of 99 years, and as such, it was not a capital asset. Sale of shares of KAPPAC PHARMA 9. Coming to the only issue of sale of KAPPAC Pharma, argued before us, during the year under

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

234\nTaxman 771(SC) the Hon’ble Supreme Court has dismissed the SLP\nagainst High Court's order, wherein it was held that since assessee himself\nhad stated in sworn statement during search and seizure about his\nundisclosed income tax was to be levied on basis of admission without\nscrutinizing documents. The ld. AO also noted that the statement made

SHRI AMBICA GARMENTS, JODHPUR,JODHPUR vs. ACIT, CENTAL CIRCLE-3, JAIPUR, JODHPUR

In the result, all appeals of the assessee are disposed off in terms of

section 68 of the Act are not satisfied. However the appellant / Id. AR has submitted ledger account of Kotak Bank loan and made arguments regarding Kotak Bank Loan and contended that bank loan cannot be treated as unexplained and that the substantial entries are matching in the ledger account in Jai Shree Ram and Ambika Garments. Accordingly the addition

SHRI AMBICA GARMENTS, JODHPUR,JODHPUR vs. ACIT, CENTAL CIRCLE-3, JAIPUR, JAIPUR

In the result, all appeals of the assessee are disposed off in terms of

section 68 of the Act are not satisfied. However the appellant / Id. AR has submitted ledger account of Kotak Bank loan and made arguments regarding Kotak Bank Loan and contended that bank loan cannot be treated as unexplained and that the substantial entries are matching in the ledger account in Jai Shree Ram and Ambika Garments. Accordingly the addition