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)

gain & short term capital offered by him. In response, the assessee vide submission dated 5.11.2019 contended that few properties were purchased for investment purposes and the same were held as part of fixed assets in the preceding years. Accordingly the sale of these properties was considered as sale of capital assets rather than stock in trade. Ld. AO considered

INCOME TAX OFFICER, WARD-1, BARMER vs. PUSHP RAJ BOHRA, JALORE

The appeal of the revenue is allowed, in the manner discussed as above

Bench: Shri Rajpal Yadav, HonʼBle & Dr. Mitha Lal Meena, Hon'Bleito, Ward-1, Barmer. Vs. Pushp Raj Bohra, M-09, Shivaji Nagar, Jalore - 343001. Pan No. Aanpb4456C Assessee By Shri Goutam Chand Baid, C.A. Revenue By Smt. Runi Pal, Cit (D.R.) Date Of Hearing 29.04.2025. Date Of Pronouncement 01.03.2025. Order Per Dr. Mitha Lal Meena, A.M.: The Captioned Appeal Has Been Filed By The Revenue Against The Order Of The Id. National Faceless Appeal Centre [Nfac/Cit(A)], Delhi Dated 08.02.2024 In Respect Of Assessment Year: 2017-18 Where The Department Has Raised Following Grounds: 1. Whether The Id. Cit(A) Is Justified In Facts & Law In Directing To Treat The Income From The Sale Of Immovable Properties As Capital Gains Instead Of Business Income, By Ignoring The Fact That Assesse & His Business Concerns Are Engaged In The Business Of Property & Real Estate Development & Huge Expenses Of Rs. 8.72 Cr. Were Incurred By Assessee On Development Of Projects To Earn Profit. 2. Whether The Id. Cit(A) Has Erred In Law & Facts By Directing The Ao To Treat The Income From The Sale Of Immovable Properties As Income From Capital Gains Instead Of Business Income By Merely Following The Order Of Hon'Ble

capital gains," 9. After adjudication of the issues raised in favour of the assessee Ld. CIT(A) restored the matter before assessing officer holding that: "In the assessment proceedings, the AO has not given any finding relating to eligibility of appellant's claim of exemption u/s.54F/54EC of the Act as the AO had treated the income from sale of properties

PUSHAP RAJ BOHRA ,JALORE vs. DCIT, BARMER CIRCLE, BARMER

In the result, appeal of the assessee is allowed

Bench: Shri R.C. Sharma & Shri Sandeep Gosain(Respondent) Pan: Aanpb 4456 C

section 2(4) of the Act, and the Hon'ble Supreme Court considered various judgments of House of Lords and other decisions of the 10 ITA 158/Jodh/2019 Pushp Raj Bohra Vs DCIT Court of Appeal etc., and then, at page 609 of 35 ITR it was held as under : … 12. Then in final concluding para, after recapitulating the relevant facts

RAMESH RAJ BHRA,JALORE vs. DCIT,BARMER CIRCLE,, BARMER

In the result, appeal of the assessee is allowed

Bench: Shri R.C. Sharma & Shri Sandeep Gosain(Respondent) Pan: Aappb 7135 G

section 45(2). Disallowance of expenditure was restricted to 40% by CIT(A) as against disallowance of 50% so made by the AO. 5. Against the above order of the ld. CIT(A), the assessee is in further appeal before the ITAT. 3 ITA 157/Jodh/2019 Ramesh Raj Bohra Vs DCIT 6. It was argued

SUKHDEV CHAYAL,BIKANER vs. PCIT-1,, JODHPUR

In the result, this appeal of the assessee is allowed

Bench: Shri Sandeep Gosain & Shri Vikram Singh Yadavassessment Year: 2016-17 Sukhdev Chayal, Vs. Pr.Cit-1, Near Ratan Sagar Well, Jodhpur. Bikaner. Pan No. Afjpc 9250 J

10% under both the 11 ITA 26/Jodh/2021 Sukhdev Chayal Vs PCIT Sections. Thus there is no escapement of income from the clutches of revenue. It is therefore sincerely requested that the impugned order passed by Pr. CIT u/s 263 of the Income Tax Act, 1961 may kindly be quashed and oblige.” 5. On the other hand

SMT. CHANDRA KANTA CHOUDHARY,BHILWARA vs. ITO, WARD-3,, BHILWARA

In the result, this appeal of the assessee is allowed

Bench: Shri Sandeep Gosain & Shri Manoj Kumar Aggarwalsmt. Chandra Kanta Choudhary, Vs. I.T.O. 135, Main Sector, Ward-3, Bhilwara. Bhilwara. Pan No. Abxpc 9134 H Assessee By Shri Sunil Porwal (Ca) Revenue By Shri A.S. Yadav, Jcit-Dr Date Of Hearing 03.11.2020 Date Of Pronouncement 29/01/2021 O R D E R Per: Bench This Is The Appeal Filed By The Assessee Against The Order Of The Ld. Cit(A), Ajmer Dated 10/01/2018 For The Ay. 2014-15, Wherein The Assessee Has Raised The Following Grounds Of Appeal: “1. That On The Facts & In The Circumstances Of The Case, The Ld. Cit(A) Ought To Have Quashed The Order Passed By Ld Ao As The Order Passed By Ld Ao Without Jurisdiction & Also Contrary To The Guideline Issued By The Hon’Ble Cbdt. 2. That On The Facts & In The Circumstances Of The Case, The Ld. Cit(A) Erred In Sustaining Addition Of Rs. 89,39,398/- In Respect Of Long Term Capital Gain Particularly When Same Was Never Subject Matter Of Limited Scrutiny. 3. That On The Facts & In The Circumstances Of The Case, The Ld. Cit(A) Erred In Confirming Addition Made By Ld Ao Which He Could Not Have Made As The Jurisdiction Of The Ld Ao Was Limited.

capital gain is taken up by the A.O. without expansion or conversion of the limited scrutiny to comprehensive scrutiny then such act of A.O. is beyond his jurisdiction and the order passed by the A.O. U/s 143(3) of the Act would be illegal and void ab initio. This Tribunal has taken a consistent view on this issue

SHANTI LAL DEORA,SUMERPUR vs. ACIT, CIRCLE, PALI

Appeal of the assessee stands allowed

Bench: Shri Sandeep Gosain & Shri Vikram Singh Yadavassessment Year:2016-17 Shri Shanti Laldeora, Vs. A.C.I.T., Hotel Inder Palace, Bhagat Circle- Pali Singh Circle, Sumerpur, Dist.- Pali-306902 (Raj.) Pan No. Adhpd 4172 A Assessee By Shri Rajendra Jain, Adv. & Shrimohitsoni, Adv. Revenue By Smt. Sanchita Kumar, Cit-Dr Date Of Hearing 11/08/2021 Date Of Pronouncement 08/09/2021

10,49,300/-. His case was selected for limited scrutiny and notice u/s 143(2) had been issued on 31/08/2017. The A.O. mentioned the reason for selection of limited scrutiny is as under: - "Following issue(s) have been identified for examination: i. Whether capital gains/ loss is genuine and has been correctly shown in the return of income." During

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

Gains - Purchase and Sale of Shares Additions made on basis of information from investigation directorate that assesseebeneficiary of accommodation entries provided by penny stock companies - tribunal on consideration of period of holding of shares recording finding that long-term capital cains earned not significant amount and assessee had not taken accommodation entries - high court holding no question of law arose

BHAMASHAH SUNDARLAL DAGA CHARITABLE TRUST,BIKANER vs. CIT - EXEMPTION, JAIPUR

The appeal of the assessee is allowed for statistical purpose

Bench: Shri Pavan Kumar Gadale & Dr. Dipak P. Ripoteआयकर अपील सं. / Ita No.278/Jodh/2023 िनधा"रण वष" / Assessment Year : N.A. Bhamashah Sundarlal Daga The Commissioner Of Charitable Trust, V Income Tax-Exemption, Bagree Mohallan, S Jaipur. Bikaner – 334001. Pan: Aaetb1013C Appellant/ Assessee Respondent/ Revenue Assessee By Shri Suresh Ojha – Ar Revenue By Smt. Alka Rajvanshi Jain – Cit(Dr) Date Of Hearing 14/08/2023 Date Of Pronouncement 10/11/2023

10 Bhamashah Sundarlal Daga Charitable Trust [A] is earlier” is in the context of the newly formed Trust/institutions. For the existing Trust/Institution, the time limit for applying for Regular Registration is within six months of expiry of Provisional registration if they are applying under sub clause (iii) of the Proviso to Section 80G(5) of the Act. This will

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)

Capital Gain of Rs.23,80,768/- earned on sale of shares of ACI Infocom Ltd. as unexplained income. According to the Assessing Officer, the abnormal price rise in the scrip of ACI Infocom was a clear case of penny stock accommodation entry, and therefore, the assessee had converted undisclosed income in the garb of exempt LTCG. 6. Against the order

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)

Capital Gain of Rs.23,80,768/- earned on sale of shares of ACI Infocom Ltd. as unexplained income. According to the Assessing Officer, the abnormal price rise in the scrip of ACI Infocom was a clear case of penny stock accommodation entry, and therefore, the assessee had converted undisclosed income in the garb of exempt LTCG. 6. Against the order

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)

Capital Gain of Rs.23,80,768/- earned on sale of shares of ACI Infocom Ltd. as unexplained income. According to the Assessing Officer, the abnormal price rise in the scrip of ACI Infocom was a clear case of penny stock accommodation entry, and therefore, the assessee had converted undisclosed income in the garb of exempt LTCG. 6. Against the order

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)

Capital Gain of Rs.23,80,768/- earned on sale of shares of ACI Infocom Ltd. as unexplained income. According to the Assessing Officer, the abnormal price rise in the scrip of ACI Infocom was a clear case of penny stock accommodation entry, and therefore, the assessee had converted undisclosed income in the garb of exempt LTCG. 6. Against the order

SMT. JAYA MOGRA,UDAIPUR vs. DCIT, CENTRAL CIRCLE-2, UDAIPUR

In the result, appeal of the assessee in ITA No

10 Smt. Jaya Mogra 7. The ld DR is heard who has relied on the findings of the lower authorities. The ld. DR strongly opposed the argument of the ld. AR of the assessee saying that the in this case provision of section 275(1)(c) will apply and submitted that even the appeal filed before

SATYA NARAYAN DHOOT,JODHPUR vs. PR. CIT-1, JODHPUR

In the result, the appeal of the assessee is allowed in respect of above said three issues

Bench: Shri B.R. Baskaran (Am) & Shri Sandeep Gosain (Jm) I.T.A. No. 49/Jodh/2022 (A.Y. 2017-18) Vs. Pcit-1 Satya Narayan Dhoot C/O Rajendra Jain Advocate Jodhpur 106, Akshay Deep Complex 5Th B Road, Sardarpura Jodhpur, Rajasthan-342 001. Pan : Aanpd4945L (Appellant) (Respondent) Assessee By Shri Rajendra Jain Department By Smt. Alka Rajvanshi Jain Date Of Hearing 03.11.2022 Date Of Pronouncement 17 .01.2023 O R D E R Per B.R.Baskaran (Am) :-

Section 80IA(5) of the Act, i.e., the losses incurred in the years prior to the initial year need not be adjusted while computing the deduction u/s 80IA in the initial year. Hence the view expressed by Ld PCIT goes against the Circular of CBDT referred above. There should not be any doubt that the circulars issued by CBDT

THAR HEAT TRANSFER EQUIPMENT PVT. LTD. ,JODHPUR vs. PR. CIT-1, JODHPUR

Appeal of the assessee is allowed

Bench: Shri Sandeep Gosain & Shri Vikram Singh Yadavthar Heat Transfer Equipments Vs. Pr.Cit-1, Pvt. Ltd., Jodhpur. B-13 To 16, Industrial Area, Jodhpur. Pan No. Aacct 7832 L Assessee By Shri Amit Kothari, Ca & Shri Abhinav Kothari, Ca Revenue By Smt. Sanchita Kumar, Cit-Dr Date Of Hearing 09/08/2021 Date Of Pronouncement 06/09/2021 O R D E R Per: Sandeep Gosain, J.M. The Present Appeal Has Been Filed By The Assessee Against The Order Of The Ld. Pr.Cit-1, Jodhpur Dated 20/03/2020 For A.Y. 2015-16 Passed U/S 263 Of The Income Tax Act, 1961 (In Short, The Act) Wherein Following Grounds Have Been Raised: “1. The Ld. Pr. Cit Has Erred In Invoking Section 263 & The Setting Aside Of The Order Passed U/S 143(3), Is Bad In Law & Bad On Facts. The Order Made U/S 143(3) Cannot Be Said To Erroneous Or Prejudicial To Interest Of Revenue. 2. The Order Passed U/S 143(3), Was Made After Duly Examining The Issue Relating To Capital Gains & The Said Order Cannot Be Said To Be Erroneous Or Prejudicial To The Interest Or Revenue. The Allocation Of Value Of Sale Of Land Was On The Basis Of Valuation Adopted By The Stamp Authorities & Was Also Verifiable. The Ld. Pr. Cit Had Erred In Observing That The Appellant Had Taken The Higher Value Of Agriculture Land. 3. The Appellant Crave Liberty To Add, Amend, Alter, Or Modify Any Of The Ground Of Appeal On Or Before Its Hearing Before Your Honour.”

13,68,000/- Depreciation each year 2280X 600  Stone Patti 1 % 8,36,800/- Depreciation each year  Tinsheet 20718 fts. X .0929 28,87,053/- + 1924.70 X 1500  Boundary Wall 333 Running 99,900/- mts. X 300 3,79,100/- 48,12,643/-  Less Depreciation Total Fair Market Value 4,01,00,000/- 6. The assessee also submitted details

SAMPAT LAL LODHA ,NATHDWARA vs. ITO, WARD-2, RAJSAMAND

In the result, both appeals of the assessee are allowed

10. Respectfully following the ratio of these decision we are of the view that the action of the lower authority addition a sum of Rs. 13,00,000 for the four depositors wherein the assessee has filed the confirmation, affidavits, bank statement and personal presence marked is sufficient to considered these depositors as genuine. As in the rest

SAMPAT LAL LODHA ,NATHDWARA vs. ITO, WARD-2, RAJSAMAND

In the result, both appeals of the assessee are allowed

10. Respectfully following the ratio of these decision we are of the view that the action of the lower authority addition a sum of Rs. 13,00,000 for the four depositors wherein the assessee has filed the confirmation, affidavits, bank statement and personal presence marked is sufficient to considered these depositors as genuine. As in the rest