ASHIANA BUILDPROP PRIVATE LIMITED,UDAIPUR vs. DCIT- CENTRAL CIRCLE-1 UDIAPUR, UDAIPUE

bogus purchase issue wherein the additions have been upheld in\nprinciple even when the books of accounts have not been rejected. In this regard the\nfollowing judgment is also hereby referred to wherein the addition has been upheld even\nwhere the books of accounts were not rejected.\nCase referred Shree Krishan Kripa Feeds v/s CIT, Karnal 101 Taxman.com

ASHIANA BUILDPROP PRIVATE LIMITED,UDAIPUR vs. DCIT, CENTRAL CIRCLE-1 UDAIPUR, UDAIPUR

In the result, appeals of the assessee are partly allowed

purchased flats from the company but\nthe transactions mentioned in this ledger accounts were not executed with the company.\nThis is again avoiding tactics even when the assessee company has been caught with the\nevidences of cash transaction. There is cash transaction as recorded on these documents\nwith the flat purchasers, which is proved from these documents. The assessee company

MANGILAL DATLA,BANSWARA vs. INCOME TAX OFFICER, WARD BANSWARA, BANSWARA

In the result, the appeal filed by the assessee is allowed, both on legal issue\nas well as on facts

purchases is to\nbe added not substantial part of transaction—When in subsequent assessment year in AY 2011-\n12, AO himself made addition only @ 10% of net profit in assessment order passed under section\n143(3); book profit shown by assessee @ 11.45% for year under consideration was reasonable\nand justified-Therefore, assessee also succeeded on merit-Assssee's appeal allowed

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, JODHPUR vs. VINESH KUMAR BALAR, PALI

In the result, appeal of the Revenue is dismissed

Bench: SHRI. LALIET KUMAR (Judicial Member), DR. MITHA LAL MEENA (Accountant Member)

bogus Long Term Capital Gain (LTCG) claimed exempt under section 10(38) of the Income Tax Act, 1961. 5. Briefly the facts of the case are that the assessee is an individual from Pali, Rajasthan. A search and seizure operation under section 132 of the Act was carried out in the Balar group of cases on 17.12.2015. Consequent

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, JODHPUR vs. PRAVEEN BALAR, PALI

In the result, appeal of the Revenue is dismissed

Bench: SHRI. LALIET KUMAR (Judicial Member), DR. MITHA LAL MEENA (Accountant Member)

bogus Long Term Capital Gain (LTCG) claimed exempt under section 10(38) of the Income Tax Act, 1961. 5. Briefly the facts of the case are that the assessee is an individual from Pali, Rajasthan. A search and seizure operation under section 132 of the Act was carried out in the Balar group of cases on 17.12.2015. Consequent

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, JODHPUR, JODHPUR vs. SOHANRAJ BALAR, PALI

In the result, appeal of the Revenue is dismissed

Bench: SHRI. LALIET KUMAR (Judicial Member), DR. MITHA LAL MEENA (Accountant Member)

bogus Long Term Capital Gain (LTCG) claimed exempt under section 10(38) of the Income Tax Act, 1961. 5. Briefly the facts of the case are that the assessee is an individual from Pali, Rajasthan. A search and seizure operation under section 132 of the Act was carried out in the Balar group of cases on 17.12.2015. Consequent

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, JODHPUR vs. KALAWATI DEVI, PALI

In the result, appeal of the Revenue is dismissed

Bench: SHRI. LALIET KUMAR (Judicial Member), DR. MITHA LAL MEENA (Accountant Member)

bogus Long Term Capital Gain (LTCG) claimed exempt under section 10(38) of the Income Tax Act, 1961. 5. Briefly the facts of the case are that the assessee is an individual from Pali, Rajasthan. A search and seizure operation under section 132 of the Act was carried out in the Balar group of cases on 17.12.2015. Consequent

MEWAR HOSPITAL PVT. LTD. ,UDAIPUR vs. ACIT, CENTRAL CIRCLE-2, UDAIPUR

In the result the appeal of the assessee in ITA No

section 115BBE of the Act. (xiii) Before me, the Ld. AR of the appellant has contended that the amount of Rs. 1,84,36,500/- was received against the revenue receipts of the hospital and argued that the Ld. AO has given no reasonable basis for making this addition, despite all details of such deposits submitted during the assessment proceedings

MEWAR HOSPITAL PVT. LTD. ,UDAIPUR vs. ACIT, CENTRAL CIRCLE-2, UDAIPUR

In the result the appeal of the assessee in ITA No

section 115BBE of the Act. (xiii) Before me, the Ld. AR of the appellant has contended that the amount of Rs. 1,84,36,500/- was received against the revenue receipts of the hospital and argued that the Ld. AO has given no reasonable basis for making this addition, despite all details of such deposits submitted during the assessment proceedings

ACIT, CENTRAL CIRCLE-2, UDAIPUR, UDAIPUR vs. M/S MEWAR HOSPITAL PVT. LTD., UDAIPUR

In the result the appeal of the assessee in ITA No

section 115BBE of the Act. (xiii) Before me, the Ld. AR of the appellant has contended that the amount of Rs. 1,84,36,500/- was received against the revenue receipts of the hospital and argued that the Ld. AO has given no reasonable basis for making this addition, despite all details of such deposits submitted during the assessment proceedings

ACIT, CENTRAL CIRCLE-2, UDAIPUR, UDAIPUR vs. M/S MEWAR HOSPITAL PVT. LTD., UDAIPUR

In the result the appeal of the assessee in ITA No

section 115BBE of the Act. (xiii) Before me, the Ld. AR of the appellant has contended that the amount of Rs. 1,84,36,500/- was received against the revenue receipts of the hospital and argued that the Ld. AO has given no reasonable basis for making this addition, despite all details of such deposits submitted during the assessment proceedings

ACIT, CENTRAL CIRCLE-2, UDAIPUR, UDAIPUR vs. M/S MEWAR HOSPITAL PVT. LTD., UDAIPUR

In the result the appeal of the assessee in ITA No

section 115BBE of the Act. (xiii) Before me, the Ld. AR of the appellant has contended that the amount of Rs. 1,84,36,500/- was received against the revenue receipts of the hospital and argued that the Ld. AO has given no reasonable basis for making this addition, despite all details of such deposits submitted during the assessment proceedings

MEWAR HOSPITAL PVT. LTD. ,UDAIPUR vs. ACIT, CENTRAL CIRCLE-2, UDAIPUR

In the result the appeal of the assessee in ITA No

section 115BBE of the Act. (xiii) Before me, the Ld. AR of the appellant has contended that the amount of Rs. 1,84,36,500/- was received against the revenue receipts of the hospital and argued that the Ld. AO has given no reasonable basis for making this addition, despite all details of such deposits submitted during the assessment proceedings

MEWAR HOSPITAL PVT. LTD. ,UDAIPUR vs. ACIT, CENTRAL CIRCLE-2, UDAIPUR

In the result the appeal of the assessee in ITA No

section 115BBE of the Act. (xiii) Before me, the Ld. AR of the appellant has contended that the amount of Rs. 1,84,36,500/- was received against the revenue receipts of the hospital and argued that the Ld. AO has given no reasonable basis for making this addition, despite all details of such deposits submitted during the assessment proceedings

MEWAR HOSPITAL PVT. LTD. ,UDAIPUR vs. ACIT, CENTRAL CIRCLE-2, UDAIPUR

In the result the appeal of the assessee in ITA No

section 115BBE of the Act. (xiii) Before me, the Ld. AR of the appellant has contended that the amount of Rs. 1,84,36,500/- was received against the revenue receipts of the hospital and argued that the Ld. AO has given no reasonable basis for making this addition, despite all details of such deposits submitted during the assessment proceedings

MEWAR HOSPITAL PVT. LTD. ,UDAIPUR vs. ACIT, CENTRAL CIRCLE-2, UDAIPUR

In the result the appeal of the assessee in ITA No

section 115BBE of the Act. (xiii) Before me, the Ld. AR of the appellant has contended that the amount of Rs. 1,84,36,500/- was received against the revenue receipts of the hospital and argued that the Ld. AO has given no reasonable basis for making this addition, despite all details of such deposits submitted during the assessment proceedings

ASHOK PANWAR HUF,JODHPUR vs. ACIT, CENTRAL CIRCLE-3, JODHPUR

In the result, both the appeals of the assesses ITA No

Bench: Dr. Mitha Lal Meena, Hon'Ble & Shri Anikesh Banerjee, Hon'Ble

section 68 of the Act to the total income of the assessee. The Ld.AO also calculated the commission amount to Rs. 6,55,255/- and total amount comes to Rs.1,65,22,302/-. The Assessing Officer further added Rs.8,08,458/- related to 145(3) of the Act on account of increase of net profit from

ASST COMMISSIONER OF INCOME TAX, BIKANER vs. MUKESH SHAH, SRIGANGANAGAR

In the result, the appeal of the revenue is dismissed

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

139 ITR 916 (MP). It is not necessary that there should be a series of transactions, both of purchase and of sale, a single transaction of purchase and sale outside the assessee's line of business may constitute adventure in the nature of trade. Neither repetition nor continuity of similar transaction is necessary to constitute a transaction and adventure