CHAMBAL FERTILISERS AND CHEMICALS LIMITED,KOTA vs. DCIT, KOTA

In the result, appeal of the revenue is dismissed

Transfer of Property Act and Registration Act etc. but nevertheless is entitled to hold the property to the exclusion of all others.” 12 ITA NO. 201(6)/JP/2017 M/s. Chambal Fertilizers & Chemicals Ltd. 70. In the present case, applying the ratio so laid down by the Hon’ble Supreme Court in case of Mysore Minerals, we agree with the findings

M/S. CHAMBAL FERTILIZERS AND CHEMICALS LIMITED,KOTA vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2, KOTA

In the result, appeal of the revenue is dismissed

Transfer of Property Act and Registration Act etc. but nevertheless is entitled to hold the property to the exclusion of all others.” 12 ITA NO. 201(6)/JP/2017 M/s. Chambal Fertilizers & Chemicals Ltd. 70. In the present case, applying the ratio so laid down by the Hon’ble Supreme Court in case of Mysore Minerals, we agree with the findings

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2, KOTA, KOTA vs. CHAMBAL FERTILIZERS AND CHEMICALS LTD, KOTA

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

iv)...." Thus, upon merger of CFCL Technologies into CFCL Ventures, CFCL's investment in shares of CFCL Technologies will be extinguished and simultaneously, it will get shares of CFCL Ventures. Thus under the facts of the case, following transfer will happen on merger of CFCL Technologies and CFCL Ventures:  Transfer in the hands of Chambal pursuant to extinguishment of rights

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2, KOTA, KOTA vs. CHAMBAL FERTILIZERS AND CHEMICALS LTD, KOTA

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

iv)...." Thus, upon merger of CFCL Technologies into CFCL Ventures, CFCL's investment in shares of CFCL Technologies will be extinguished and simultaneously, it will get shares of CFCL Ventures. Thus under the facts of the case, following transfer will happen on merger of CFCL Technologies and CFCL Ventures:  Transfer in the hands of Chambal pursuant to extinguishment of rights

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2, KOTA, KOTA vs. CHAMBAL FERTILIZERS AND CHEMICALS LTD., KOTA

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

iv)...." Thus, upon merger of CFCL Technologies into CFCL Ventures, CFCL's investment in shares of CFCL Technologies will be extinguished and simultaneously, it will get shares of CFCL Ventures. Thus under the facts of the case, following transfer will happen on merger of CFCL Technologies and CFCL Ventures:  Transfer in the hands of Chambal pursuant to extinguishment of rights

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)

price paid for acquiring the rights of land and not the land itself and the ownership of the land vests with the lessor of the land. The lessee is liable to return the land to its original owner after the expiry of the lease and does not have ownership rights over the land. On such facts, courts have held that

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2, KOTA, KOTA vs. CHAMBAL FERTILIZERS AND CHEMICALS LTD., KOTA

36(1)(iii) of the Act\nin respect of the amounts said to have been invested in subsidiaries/group\ncompanies/associates\nand to remit the matter to Learned Assessing\nOfficer for decision afresh so as to record finding as to interest free funds\navailable with the assessee during the assessment years under\nconsideration, after verification of all relevant documents relied on behalf

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2, KOTA, KOTA vs. CHAMBAL FERTILIZERS AND CHEMICALS LTD, KOTA

36(1)(iii) of the Act\nin respect of the amounts said to have been invested in subsidiaries/group\ncompanies/associates\nand to remit the matter to Learned Assessing\nOfficer for decision afresh so as to record finding as to interest free funds\navailable with the assessee during the assessment years under\nconsideration, after verification of all relevant documents relied on behalf

MAGENDRA SINGH RATHORE,ALWAR vs. DCIT CENTRAL CIRCLE-2, JAIPUR

In the result the appeal of the assessee is partly allowed

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

price of property. Sh. Magendra Singh Rathore 5. Aggrieved by the above order of the Assessing Officer the assessee preferred an appeal before the ld. CIT(A). Apropos to the grounds so raised by the assessee, the relevant finding of the ld. CIT(A) is as under:- “In this case the search action took place on 02.08.2017. Appellant had filed

M/S SUMERU ENTERPROSES,JAIPUR vs. INCOME TAX OFFICER, WARD-6-4, JAIPUR

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

transferred in lieu of part sale consideration and interest is worked out on the on the outstanding liabilities (loan taken). During the year interest paid on loans including financial brokerage and bank commission is Rs.4,77,36,535/-. 3. As per point No.28(b) of form No.3CD reflecting finished and work in progress the opening stock in respect of 'commercial

M/S SUMERU ENTERPROSES,JAIPUR vs. INCOME TAX OFFICER, WARD-6-4, JAIPUR

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

transferred in lieu of part sale consideration and interest is worked out on the on the outstanding liabilities (loan taken). During the year interest paid on loans including financial brokerage and bank commission is Rs.4,77,36,535/-. 3. As per point No.28(b) of form No.3CD reflecting finished and work in progress the opening stock in respect of 'commercial

M/S SUMERU ENTERPROSES,JAIPUR vs. INCOME TAX OFFICER, WARD-6-4, JAIPUR

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

transferred in lieu of part sale consideration and interest is worked out on the on the outstanding liabilities (loan taken). During the year interest paid on loans including financial brokerage and bank commission is Rs.4,77,36,535/-. 3. As per point No.28(b) of form No.3CD reflecting finished and work in progress the opening stock in respect of 'commercial

SAKET AGARWAL,JAIPUR vs. ITO WARD 2(3) JAIPUR, JAIPUR

In the result appeal filed by the assessee is allowed

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

price through fictitious invoices in the name of the parties mentioned in the letter. 3.4 In response to the Final Show cause notice the A/R of the assessee filed written submission on 23rd Dec., 2016. The assessee contended that the address taken from purchase bills has been supplied, further, during the year in some of the cases the amount

VAIBHAV GLOBAL LIMITED,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, JAIPUR, JAIPUR

In the result, the appeal of the assessee is allowed and disposed off in light of aforesaid directions

Bench: Shri Sandeep Gosain & Shri Vikram Singh Yadavvaibhav Global Limited, Deputy Commissioner Of बनाम Jaipur. Income Tax, Central Circle-4, Jaipur. "थायी लेखा सं./Pan No: Aaacv4679F

section 144C(13) of the Act was passed by the Assessing officer on 13.11.2019 wherein adjustment on account of transfer pricing as proposed by the Transfer Pricing Officer was made and the assessed income was determined at Rs.57,36,47,429/-. 3. Against the draft assessment order, the assessee filed its objections before the Dispute Resolution Panel and after considering

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