SH. MAHENDRA KUMAR GOYAL,SIKAR vs. ACIT, CENTRAL CIRCLE-3, JAIPUR, JAIPUR

In the result of the appeal of the assessee are disposed off as under

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI, आंकड़ुठरधारी आइटीएए सं.र@ITA Nos.493, 495 to 498, 500/JP/2025 निर्धारण वर्ष@Assessment Years : 2014-15 to 2016-17, 2018-19 to 2020-21 Mahendra Kumar Goyal चुके Vs. ACIT/DCIT Ward No. 2, Shahpura Road Neem Ka Thana, Sikar Central Circle-03, Jaipur लेखा संख्याल्लेय सं.जीआइआर सं.पान@PAN/GIR No.: ACFPG0306G अपीलार्थी@Appellant प्रत्यार्थी@Respondent निर्धारीती की आर से@ Assessee by : Shri P. C. Parwal, CA राजस्व की आर से@ R

Section 33(4) of the 1922 Act, analogous to Section 250/254 of the 1961 Act) do not confer on the appellate authority a power to make any direction on matters not arising in the appeal, especially as the Act provides separate mechanisms (like Section 34 of 1922 Act, now Section 147) to deal with escaped income. Accordingly, the Apex Court

SH. MAHENDRA KUMAR GOYAL,SIKAR vs. ACIT, CENTRAL CIRCLE-3, JAIPUR, JAIPUR

In the result of the appeal of the assessee are disposed off as under

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

Section 33(4) of the 1922 Act, analogous to Section 250/254 of the 1961 Act) do not confer on the appellate authority a power to make any direction on matters not arising in the appeal, especially as the Act provides separate mechanisms (like Section 34 of 1922 Act, now Section 147) to deal with escaped income. Accordingly, the Apex Court

SANDEEP KHERADA,JAIPUR vs. THE INCOME TAX OFFICER, JAIPUR

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

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

prices of gold jewellery Rs. 56,36,749 Direct/Indirect expenses Rs. 1,15,098 Rs. 57,51,847 Profit of business Rs. 3,50,088 As the assessee has declared profit of business of Rs. 40,983/- in his return of income, therefore, balance of Rs. 3,09,105/- is added to the total income of the assessee. 3.4 During

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

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-4, JAIPUR vs. PAWAN KUMAR JHALANI, JAIPUR

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

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

transferred to Central Circle-4, Jaipur as per order u/s. 127 of the Act. As is evident from the record that the assessne, Shri Pawan Jhalani, is an Individual and a gold bullion trader, doing business activity in the name of Krishnam jewellers, during the year under consideration had made unaccounted sale of Gold bullion amounting to Rs.11

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

prices of gold were doubling or tripling after the next day or the jewellery would not have been available on the next day. The rush was at the Jewellers apparently due to the reason that some people wanted to buy jewellery in cash using the demonetised currency which they could not have deposited in the bank account as that

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

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

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

section 65A & 65B of the \nEvidence Act has not been followed by the assessing authority. However the \ncontention of the appellant is mere based on presumptions and assumptions. \nFurther the appellant has stated that the learned AO has not mentioned in the \nsaid section that steps were taken in this regard. However there is no requirement \nto record such satisfaction

TARA SONI,DAUSA vs. ITO WARD, DAUSA, DAUSA

In the result, the appeal filed by the appellant stands allowed with no orders\nas to cost

transfers\nshares to the demat account of the buyer. Hence, sellers and buyers do not directly deal or\ncome in contact nor their brokers come in direct contact and neither of them know the\ncontra party.\niv.\nThe whole system of buying and selling of shares done on the stock exchange\nplatform is faceless and SE platform deals with brokers

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

SANJAY KUMAR KARNANI,JAIPUR vs. ACIT, CENTRAL CIRCLE-3, JAIPUR, JAIPUR

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

Bench: AO on 12-04-2021 18. Reply filed before AO on 15-07-2021 19. Additional Written Submissions filed before CIT(A) for AY 2014-15 on 11-11-2024 20. Written Submissions filed before CIT(A) for AY 2014-15 21. Written Submissions filed before CIT(A) for AY 2015-16 on 10-10-2024 22. Written Submissions filed before CIT(A) for AY 2016-17 on 10-10-2024 23. Written Submissions filed before CIT(A) for AY 2017-18 on 15-10-2024 24. Written Submissions filed before CIT(A) for AY 2018-19 on 15-10-2024 25.

292C. (1) Where any books of account, other documents, money, bullion, jewellery or other valuable article or thing are or is found in the possession or control of any person in the course of a search under section 132 or survey under section 133A, it may, in any proceeding under this Act, be presumed- (1) that such books of account

SANJAY KUMAR KARNANI,JAIPUR vs. ACIT, CENTRAL CIRCLE-3, JAIPUR, JAIPUR

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

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

292C. (1) Where any books of account, other documents, money, bullion, jewellery or other valuable article or thing are or is found in the possession or control of any person in the course of a search under section 132 or survey under section 133A, it may, in any proceeding under this Act, be presumed- (1) that such books of account

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

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

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

292C. (1) Where any books of account, other documents, money, bullion, jewellery or other valuable article or thing are or is found in the possession or control of any person in the course of a search under section 132 or survey under section 133A, it may, in any proceeding under this Act, be presumed- (1) that such books of account

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

292C. (1) Where any books of account, other documents, money, bullion, jewellery or other valuable article or thing are or is found in the possession or control of any person in the course of a search under section 132 or survey under section 133A, it may, in any proceeding under this Act, be presumed- (1) that such books of account

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

292C. (1) Where any books of account, other documents, money, bullion, jewellery or other valuable article or thing are or is found in the possession or control of any person in the course of a search under section 132 or survey under section 133A, it may, in any proceeding under this Act, be presumed- (1) that such books of account

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

SUNIL KUMAR AGARWAL,JAIPUR vs. ACIT, CEN. CIR-2, JAIPUR

In the result the appeal of the assessee in ITA no

Section 68 Case pertains to Asst. Year 1966-67 Decision in favour of: Assessee Cash credits—Addition under s. 68—ITO can make addition under s. 68 as income from undisclosed sources, simultaneously with addition to trading results— However, assessee can claim the addition under s. 68 as covered by intangible additions to trading results—In the present case