HOLIDAY TRIANGLE TRAVEL PRIVATE LIMITED,GURGAON vs. INCOME TAX OFFICER, JAIPUR

In the result, appeal of the assessee is allowed

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI GAGAN GOYAL (Accountant Member)

section 56(2)(viib) and has valued the price of share by following DFCF method. 4. The ld. CIT`s contention that the valuer has very categorically mentioned in the report that they have not verified the authenticity of the financials provided by the assessee which makes the report baseless is incorrect as the mentioning of the lines

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2, JAIPUR vs. M/S GANPATI EXCLUSIVE DESIGNER SAREES PVT. LTD., JAIPUR

In the result, appeal of the assessee is allowed

56(2) (viib) of the Act is included in definition of section 2(24) of the Act w.e.f. 01-04-2013. Therefore, the provisions of these sections cannot be made applicable prior to A.Y. 2013-14. (vii) Reliance is placed on the judgement dated 30.10.2017 of Hon’ble ITAT, Jaipur in the case of M/s. Motisons Buildtech

M/S GANPATI EXCLUSIVE DESIGNER SAREES PVT. LTD.,JAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2, JAIPUR

In the result, appeal of the assessee is allowed

56(2) (viib) of the Act is included in definition of section 2(24) of the Act w.e.f. 01-04-2013. Therefore, the provisions of these sections cannot be made applicable prior to A.Y. 2013-14. (vii) Reliance is placed on the judgement dated 30.10.2017 of Hon’ble ITAT, Jaipur in the case of M/s. Motisons Buildtech

M/S NABH MULTITRADE PVT. LTD.,JAIPUR vs. INCOME TAX OFFICER, JAIPUR

In the result, appeal of the assessee is allowed

price, then no addition is called for under section 56(2)(viib) of the Act. This Tribunal in the case of M/s. Ramehwaram Strong Glass (P) Ltd. vs. ITO (supra) has considered this issue of adopting the prescribed method at the choice of the assessee in para 4.5 as under :- 12 M/s. Nabh Multitrade Pvt. Ltd., Jaipur. “4.5 We have

WORSHIP INFRAPROJECTS PRIVATE LIMITED,JAIPUR vs. DCIT, CEIRCLE-2, JAIPUR

In the result of the appeal of the assessee is allowed

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

56,88,968 Adjusted Profit 4,09,19,882 2,52,91,655 M/s. Worship Infraprojects Pvt. Ltd., Jaipur. before tax (A) Profit before tax 90,48,708 90,48,708 as reported (B) Adjustment (A-B) 3,18,71,174 1,62,42,947 Actual Price 98,93,88,204 98,93,88,204 undertaken by Assessee

DEPUTY COMMISSIONER OF INCOME TAX, JAIPUR vs. M/S WORSHIP INFRAPROJECTS PVT LTD(PREVIOUSLY KNOWN AS OM METALS SPML INFRAPROJECTS PVT LTD), JAIPUR

In the result of the appeal of the assessee is allowed

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

56,88,968 Adjusted Profit 4,09,19,882 2,52,91,655 M/s. Worship Infraprojects Pvt. Ltd., Jaipur. before tax (A) Profit before tax 90,48,708 90,48,708 as reported (B) Adjustment (A-B) 3,18,71,174 1,62,42,947 Actual Price 98,93,88,204 98,93,88,204 undertaken by Assessee

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

transferred to M/s NavBharat Nirman Co.(JV) and it will be taken back (Issue \nalready discussed supra). Moreover, this page was never confronted either to the \nassessee or Shri Verma, during the course of search or assessment. So, the \naddition sustained by CIT(A) u/s 56(2)(vii) does not get supported either by Shri \nVerma’s statements

RAMESHWARAM STRONG GLASS (P.) LTD.,AJMER vs. ITO, AJMER

In the result, the appeal of the assessee is partly allowed as indicated above

price to premium in the business. In fact, all these are not possible in the case of newly startup/set up company being in existence of 8-10 years. 14. AY 2013-14 is not the rightful year: Alternatively and without prejudice to the above contention, even assuming it is held that the revenue is justified in their action, a careful

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

SMT. BIRMA DEVI,JAIPUR vs. INCOME TAX OFFICER, WARD-6-2, JAIPUR

In the result, appeal of the assessee is allowed in terms indicated

Bench: The Hearing Of This Appeal.”

pricing study. In view of the afore-noted discussion and the ratio of the these precedents, we direct the AO / TPO to examine the correctness of the figures placed on record by the assessee in support of its contention that the case of Goldstone Teleservices Limited was wrongly included by it in the list of comparables, which is actually

JODHPUR DEVELOPMENT AUTHORITY,JODHPUR vs. DCIT (EXEMPTION), JAIPUR

In the result, the appeal in ITA no

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;djvihy la-@ITA No. 665 & 666/JPR/2023 fu/kZkj.ko"kZ@Assessment Years : 2009-10 & 2013-14 Jodhpur Development Authority 1, Opposite Railway Hospital, JDA Circle, Jodhpur. cuke Vs. Deputy Commissioner of Income Tax, Exemption, Jodhpur. LFkk;hys[kk la-@thvkbZvkj la-@PAN/GIR No.: AAALJ 0478 P vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksjls@Assesseeby : Shri Amit Kothari (C.A.) jktLo dh vksjls@Revenue by:

56,000 Income from Corporation Assets & Investments 73,15,21,440 Miscellaneous Income 1,43,98,908 Total Income - I 111,07,07,471 Expenditure Amount Establishment Expenses 69,25,18,423 General Administrative Expenses 4,98,42,868 Public Works 64,72,79,927 Interest and Financial Expenses 1,07,13,925 Miscellaneous Expenses 39,69,24,407 Depreciation

JODHPUR DEVELOPMENT AUTHORITY,JODHPUR vs. DCIT (EXEMPTION), JAIPUR

In the result, the appeal in ITA no

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

56,000 Income from Corporation Assets & Investments 73,15,21,440 Miscellaneous Income 1,43,98,908 Total Income - I 111,07,07,471 Expenditure Amount Establishment Expenses 69,25,18,423 General Administrative Expenses 4,98,42,868 Public Works 64,72,79,927 Interest and Financial Expenses 1,07,13,925 Miscellaneous Expenses 39,69,24,407 Depreciation

VAIBHAV GLOBAL LIMITED,JAIPUR vs. DCIT, CC-4, JAIPUR

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

Section 92C(3) of the Act has not been satisfied. - 2. Under the facts and circumstances of the case and in law, the Ld. TPO, Ld. AO and the Hon'ble DRP erred in rejecting the CPM considered by the appellant as the Most Appropriate Method with GP /COP as the PLI, without giving any cogent reason. - 3. Under

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

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

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)

56,08,94,534/-, made by the Assessing Officer on account of disallowance of interest , u/s 36(1)(iii) of the Act. Club Expenses o6 ITA No. 1090, 1097 TO 1099 & 1091/JPR/2024 Chambal Fertilizers and Chemicals Ltd., Kota Department has also challenged the impugned order whereby Learned CIT(A) deleted addition of Rs. 16,25,226/-, made by the Assessing

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)

56,08,94,534/-, made by the Assessing Officer on account of disallowance of interest , u/s 36(1)(iii) of the Act. Club Expenses o6 ITA No. 1090, 1097 TO 1099 & 1091/JPR/2024 Chambal Fertilizers and Chemicals Ltd., Kota Department has also challenged the impugned order whereby Learned CIT(A) deleted addition of Rs. 16,25,226/-, made by the Assessing

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)

56,08,94,534/-, made by the Assessing Officer on account of disallowance of interest , u/s 36(1)(iii) of the Act. Club Expenses o6 ITA No. 1090, 1097 TO 1099 & 1091/JPR/2024 Chambal Fertilizers and Chemicals Ltd., Kota Department has also challenged the impugned order whereby Learned CIT(A) deleted addition of Rs. 16,25,226/-, made by the Assessing