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

purchase under new scheme/project with amended\nterms & conditions.\nB.4 In fact, unfortunately on account of adverse financial stringencies Shri Bharat\nManwani could not arrange the booking amount of first installment from the related\nbuyers. Not only this the financial position of Shri Bharat Manwani becomes critical in\nhis personal business activities and due to this reason in the market rumors

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

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

investment in shares and brokers account APB pages 38 to 39; (3) broker note for sale of shares during the year from Suresh Rathi Securities Pvt Ltd APB pages 40 to 56. The assessee purchased shares through banking channel on 09/03/2012 and the said scrip was sold in F.Y.2014-15 related to impugned assessment year. 5. Related to submission before

RACHNA GOYAL,JODHPUR vs. ITO, WARD-1(2), JODHPUR

In the result, appeal of the assessee is dismissed

bogus LTCG against cash\nand the buyers are ensured delivery of cash against such pre-determined purchase\nof shares. The buyer and seller parties are well planned in the transaction as only in\nsuch scenario, the case is assured to the buyer and sale proceeds of shares are\nassured in the bank account linked with the demat account of seller

ITO, WARD, PHALODI, PHALODI vs. M/S RAMA ALLURE LLP, JODHPUR

In the result, appeal of the revenue is dismissed

Bench: The Date, The Appeal Is Finally Heard.”

unexplained credit of the assessee. A similar view has been expressed by the Hon'ble Supreme Court in the case of CIT v. Steller Investments Ltd. [2001] 115 Taxman 99/251 ITR 263.” viii 2003 - Nemi Chand Kothari Vs. CIT & High Court of Gauhati [264 ITR 254] - (Annexure X) “If s. 106 (of the Evidence Act) and 68 have

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

unexplained expenditure u/s 69C, is nothing but a serious misconception carried by the AO. Firstly, he never doubted the geniuses of the share loss claimed which is fully documented and evidenced and all the transaction were carried out through banking channel as per norms. Secondly, each receipt and outgoing are accounted for and the investment made into India Nivesh Securities

M/S BHAGIRATH DAIRY PRIVATE LIMITED,NAGAUR vs. ASSISTANT COMMISSIONER OF INCOME TAX,, NAGAUR

The appeal is allowed

Bench: Dr. Mitha Lal Meena, Hon’Ble & Shri Sudhir Pareek, Hon’Ble

investment in share capital fo Rs. 99,00,000/- having been made through the bank account were also scrutinized and accepted. The Department, having accepted the facts of amounts deposited and transferred to the assessee company of Rs. 1,30,00,000/-, was precluded in taking a different stand of treating these amounts unexplained in the hands of the assessee

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

In the result the appeal of the assessee in ITA No

investment in acquiring the goods which have been found subject of undisclosed sales." This view is fully supported by the judgement of Hon'ble Supreme Court in the case CIT vs. President Industries reported in 225 ITR Page 47 and also by various other courts. (ix) It is also well settled position of law that tax can be levied only

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

In the result the appeal of the assessee in ITA No

investment in acquiring the goods which have been found subject of undisclosed sales." This view is fully supported by the judgement of Hon'ble Supreme Court in the case CIT vs. President Industries reported in 225 ITR Page 47 and also by various other courts. (ix) It is also well settled position of law that tax can be levied only

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

In the result the appeal of the assessee in ITA No

investment in acquiring the goods which have been found subject of undisclosed sales." This view is fully supported by the judgement of Hon'ble Supreme Court in the case CIT vs. President Industries reported in 225 ITR Page 47 and also by various other courts. (ix) It is also well settled position of law that tax can be levied only

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

investment in acquiring the goods which have been found subject of undisclosed sales." This view is fully supported by the judgement of Hon'ble Supreme Court in the case CIT vs. President Industries reported in 225 ITR Page 47 and also by various other courts. (ix) It is also well settled position of law that tax can be levied only

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

investment in acquiring the goods which have been found subject of undisclosed sales." This view is fully supported by the judgement of Hon'ble Supreme Court in the case CIT vs. President Industries reported in 225 ITR Page 47 and also by various other courts. (ix) It is also well settled position of law that tax can be levied only

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

investment in acquiring the goods which have been found subject of undisclosed sales." This view is fully supported by the judgement of Hon'ble Supreme Court in the case CIT vs. President Industries reported in 225 ITR Page 47 and also by various other courts. (ix) It is also well settled position of law that tax can be levied only

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

In the result the appeal of the assessee in ITA No

investment in acquiring the goods which have been found subject of undisclosed sales." This view is fully supported by the judgement of Hon'ble Supreme Court in the case CIT vs. President Industries reported in 225 ITR Page 47 and also by various other courts. (ix) It is also well settled position of law that tax can be levied only

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

In the result the appeal of the assessee in ITA No

investment in acquiring the goods which have been found subject of undisclosed sales." This view is fully supported by the judgement of Hon'ble Supreme Court in the case CIT vs. President Industries reported in 225 ITR Page 47 and also by various other courts. (ix) It is also well settled position of law that tax can be levied only

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

In the result the appeal of the assessee in ITA No

investment in acquiring the goods which have been found subject of undisclosed sales." This view is fully supported by the judgement of Hon'ble Supreme Court in the case CIT vs. President Industries reported in 225 ITR Page 47 and also by various other courts. (ix) It is also well settled position of law that tax can be levied only

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