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

SUNIL PAGARIA,UDAIPUR vs. ITO, WARD-2(1), UDAIPUR

In the result, the appeal of the assessee is allowed

13 (2) of general clauses act. The appellant has thus rightly claimed exemption u/s 54F for the investment in two residential houses within frame of section 54F. Case laws relied by the appellant has been wrongly interpreted. These are reiterated with prayer for the reference. 3. Once exemption u/s 54F has been allowed in assessment u/s 143 (3

KAUSHALIYA DEVI DHOOT,JODHPUR vs. ACIT, CIRCLE-3, JODHPUR

In the result, the appeal of the assessee is dismissed

Bench: Shri Laliet Kumar, Hon'Ble & Dr. Mitha Lal Meena, Hon'Ble

3) in computation of income. 4. That on the facts and in the circumstances of the case the Ld CIT(A) grossly erred in upholding the action of Ld AO for not allowing set off of brought forward capital loss of Rs. 13,01,585/- in the computation sheet. 5. That on the facts and in the circumstances

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

ITO, WARD-3, SRIGANGANAGAR vs. SHRI BADRI PRASAD, SRIGANGANAGAR

13,15,50,000/-. The sold property in question is situated within the 8 kilometers of Municipal Limit; hence this transaction was chargeable to tax under the provisions of section 3 Shri Badri Prasad 45 of the Income Tax Act 1961. The assessee has not filed his return of income for the AY 2013-14 within the time limit

M/S TARUN CONSTRUCTION COMPANY,WARD NO.24, NEAR BHAGAT SINGH CHOWK, SURATGARH vs. CPC, BANGALORE/ ITO, WARD-1, SRIGANGANAGAR, SRIGANGANAGAR

In the result, appeals are dismissed

Bench: Shri Saktijit Dey, Vice- & Dr. Brr Kumar

13. This clause is inserted by the Finance Act with effect from 1st April, 1988. The Explanation to this clause is read very carefully. "Due date" has been explained stating that : means the date by which the assessee is required as an employer to credit contribution to the employees' account in the relevant fund under any Act, rule or order

M/S TARUN CONSTRUCTION COMPANY,WARD NO.24, NEAR BHAGAT SINGH CHOWK, SURATGARH vs. CPC, BANGALORE/ ITO, WARD-1, SRIGANGANAGAR , SRIGANGANAGAR

In the result, appeals are dismissed

Bench: Shri Saktijit Dey, Vice- & Dr. Brr Kumar

13. This clause is inserted by the Finance Act with effect from 1st April, 1988. The Explanation to this clause is read very carefully. "Due date" has been explained stating that : means the date by which the assessee is required as an employer to credit contribution to the employees' account in the relevant fund under any Act, rule or order

ADITYA BUILDERS AND DEVELOPERS ,JODHPUR vs. CPC, BENGALURU / ACIT, CIRCLE-3, JODHPUR

In the result, appeal of the assessee is allowed for statistical

section 143(1) of the Income Tax Act, by CPC Bengaluru. 2 Aditya Builders and Developers 2. The assessee has marched this appeal on the following grounds:- “1. That on the facts and in the circumstances of the case, the CIT(A)/NFAC has grossly erred in violating the principal of faceless appeal as announced for justice of honest taxpayers

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

capital gain, he cannot simply dispute fact that assessee did not file return—Entire\nreasoning recorded by AO for initiation of reassessment proceeding and issuance of notice\nunder section 148 was on wrong and incorrect facts that assessee has never filed return of\nincome, and in fact, it was filed—Initiation of reassessment proceeding u/s.147 and notice under\nsection

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

In the result, appeal of the assessee in ITA No

3 times of the cost, the profit is worked out as under:- Sale consideration, as per 2 sale deeds of Rs.16.10lacs Each Rs. 32,20,000/- Estimated cost, 1/3 (in round figures) Rs. 10,75,000/- Profit Rs. 21,45,000/-" 12. During the course of hearing of appeal the A.R of the appellant agreed to the estimation of business

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)

3) on 27.12.2017 determining the income at Rs.30,55,730/-. In doing so, he treated the Long Term 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

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)

3) on 27.12.2017 determining the income at Rs.30,55,730/-. In doing so, he treated the Long Term 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

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)

3) on 27.12.2017 determining the income at Rs.30,55,730/-. In doing so, he treated the Long Term 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

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)

3) on 27.12.2017 determining the income at Rs.30,55,730/-. In doing so, he treated the Long Term 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

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

In the result, both appeals of the assessee are allowed

section 24, there are no such restriction that the assessee will be denied the deduction of interest payable of capital borrowed on which the income is offered. Since the dispute is not related to any of the other aspects. We are of the considered view extent of area had not given on rent cannot be disallowed. Based on these observations

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

In the result, both appeals of the assessee are allowed

section 24, there are no such restriction that the assessee will be denied the deduction of interest payable of capital borrowed on which the income is offered. Since the dispute is not related to any of the other aspects. We are of the considered view extent of area had not given on rent cannot be disallowed. Based on these observations

BHOOP SINGH POONIA,NOHAR vs. ITO WARD, NOHAR, NOHAR

13. Heard. To appreciate the aforesaid rival positions, we refer to the\nprovisions of Section 69A of the Act. Section 69A provides that where in any\nfinancial year the Assessee is found to be the owner of any money, bullion,\njewellery or other valuable article and such money, bullion, jewellery or valuable\narticle is not recorded in the books

MARBLE KINGDOM INDIA PVT. LTD. ,UDAIPUR vs. ITO,WARD-TDS, UDAIPUR

In the result, the appeal of the assessee is dismissed

Bench: Shri Pavan Kumar Gadale & Dr. Dipak P. Ripoteassessment Year : 2013-14 Marble Kingdom India Private Income Tax Officer, 365, Lodha Complex, Shashtri Vs Ward-Tds, Circle, Udaipur Udaipur Pan: Jdhm06807D Appellant / Assessee Respondent / Revenue Assessee By None Revenue By Ms. Prerana Choudhary-Jcit-Dr Date Of Hearing 17.08.2023 Date Of Pronouncement 18.08.2023 Order Per Dr. Dipak P. Ripote, Am: This Is An Appeal Filed By The Assessee Against The Order Of Ld. Commissioner Of Income Tax (Appeals) (National Faceless Appeal Centre, Delhi) Under Section 250 Of Income Tax Act, 1961 For A.Y. 2013-14 Emanating From Order Under Section 154 Of The Income Tax Act Dated 31.12.2019 Passed By Income Tax Officer (Tds), Udaipur. 2. The Assessee Has Filed An Application Under Section 154 Of The Act Against The Order Under Section 200A. Assessee Requested The Ito To Rectify The Levy Of Fee Charged Under Section 234E Of The Act. The Ld. Ito Rejected The Application On The Ground That It Is Not A Mistake Apparent From Record As It Is A Debatable Issue. The Relevant Paragraph Of The Order Is Reproduced Here As Under:- Marble Kingdom India Pvt. Ltd. “3. On-Going Through The Record It Is Noticed That It Is Not A Mistake Apparent On Record & Issue Is Debatable & Also Not Covered U/S 154 Of The Act. Thus The Contention Of The Deductor/Assessee Is Not Tenable Because The Hon'Ble Jurisdictional Rajasthan High Court Jaipur Has Dismissed The Appeals In The Case Of M/S Dundlod Shikdhan Sansthan & Anr. V/S Union Of India & Ors. In D.B. Civil Writ Petition No. 8672/2014 Dated 28.07.2015 On This Issue. Hence Considering The Facts Of The Case & Decision Of Jurisdictional Rajasthan High Court The Application Filed By The Assessee U/S 154 Is Rejected Accordingly.”

3 Marble Kingdom India Pvt. Ltd. rectification application on the ground that it is a debatable issue. We agree with the ITO that it is a debatable issue. Rectification application is for correcting the mistakes apparent from records. One cannot take recourse under section 154 in the case of issues which are debatable issues. 8. The Hon’ble Gujarat High