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

Bench: DR. MITHA LAL MEENA (Accountant Member), DR. S. SEETHALAKSHMI (Judicial Member)

89,554/- in A.Y. 2016-17 on account of alleged underreporting sales on estimate basis without invoking the provision of sec.145(3) and without rejecting the books of accounts, also erred in not considering the material and details in their true perspective and sense despite available on record. Also erred in making the addition without invoking any provision

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

In the result, appeals of the assessee are partly allowed

89,554/- in A.Y. 2016-17 on account of alleged underreporting sales on estimate\nbasis without invoking the provision of sec.145(3) and without rejecting the books of\naccounts, also erred in not considering the material and details in their true perspective\nand sense despite available on record. Also erred in making the addition without\ninvoking any provision

DCIT, CENTRAL CIRCLE-1, UDIPUR vs. M/S. WAGAD CONSTRUTION COMPANY, UDAIPUR

In the result, appeals of the Revenue are dismissed

89, the Hon'ble Supreme Court held as under :- "…….But, in view of section 68 of the Act, where any sum is found credited in the books of the assessee for any previous year, the same may be charged to Income-tax as the income of the assessee of that previous year if the explanation offered by the assessee about

DCIT, CIRCLE, BHILWARA vs. SHRI PRAHALAD RAI RATHI, BHILWARA

In the result, the appeal of the Revenue is dismissed

Bench: Shri B. R. Baskaran & Dr. S. Seethalakshmithe Dcit Vs Shri Prahalad Rai Rathi Circle Prop: M/S.Kedar Mal Radhey Shyam, Bhiwlara Sadar Bazar, Gulabpura, Bhilwara (Appellant) (Respondent) Pan No. Adxpr 0949 R

bogus or sham loss claimed. The attempt of AO to compare the balance amount of 1.62 crore with the share trading loss was an example of mere suspicion without any supporting material. Repayment of Rs. 1.62 crores was made through banking channel. The audited accounts were submitted and the AO completely failed to point out any discrepancy or error

ACIT, PAOTA C ROAD vs. VARAHA INFRA LIMITED, PAOTA B ROAD

In the result, the appeal of the revenue is dismissed

Bench: Dr. S. Seethalakshmi & Shri Rathod Kamlesh Jayantbhaithe Acit Vs M/S. Vardha Infra Ltd. Room No. 215, Aayakar Bhawan 6 Jalam Vilas Scheme Paota C Road, Jodhpur Paota B Road, Jodhpur (Appellant) (Respondent) Pan No. Aaccv 7972 K

purchases, closing stock details, led to the legitimate Inference that the books/supporting evidences/bills vouchers had not been properly particularly when there was a steep fall in net profit rate, in the year under consideration there was loss of 6.97% of receipts whereas in the immediately preceding year the assessce had declared net profit at 7.23% of receipts 5.5 In view