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

In the result, the appeal of the assessee is allowed

section vide completed assessment u/s 143(3) of the Act dated 19.02.2016. It has thus resulted the said notice u/s 154 of the Act as a mistake apparent from the record of difference of Rs. 20,54,894/- liable for taxation under the head capital gain

RAJ KUMAR GOLECHA,PALI vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, JODHPUR, AAYKAR BHAWAN, JODHPUR

In the result, appeal of the assessee is allowed

capital gain\nas undisclosed income merely on the basis of information received from\nInvestigation Wing, Kolkata. The addition so made is neither based on any\nincriminating material found during the course of search nor based on any other\nevidence, but it is merely because of the hypothetical presumption of the AO. The\nAO has not brought on record any cogent

CHHITAR MAL JAIN ,UDAIPUR vs. ITO, WARD-2(1), UDAIPUR

In the result, the appeal of the assessee bearing ITA No

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

154 / 143(1) without providing an opportunity is against the principles of natural justice and liable to quash. 2 The Ld CIT(A), NFAC further erred in upholding the disallowance of set off of Short Term Capital Loss by Short and Long Term Capital Gains as provided in section

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.”

154 on 26.4.2018 rectifying the income to Rs. 35,87,112/-. 3. The assessee during the year had sold certain industrial land, factory building and agriculture land. On sale of land being long term capital gain was shown, and on factory building and plant and machinery being depreciable asset the computation of gain on transfer of such asset was made

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

capital gains declared u/s 11 IA and First Year of Deduction claimed u/s 801A/801AB/801AC/801BA'. Ld.AO-NaFAC reached following finding after verification of the issue- 3.4 Reasons for inference drawn that no variation is required on this issue- On perusal of the details/explanation /submission and documents alongwith details of expenses given made by the assessee, the issues are found explained

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

154\norder dt. 27.04.2018) made by the ld. AO on account of alleged underreporting sales, on\nmoney received on sales, on estimate basis without invoking the provision of sec.145(3)\nand without rejecting the books of accounts, without cross examination or inquiry from\npurchasers or Bharat Manwani, also erred in not considering the material and details in\ntheir true perspective

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

In the result, appeals of the assessee are partly allowed

154\norder dt. 27.04.2018) made by the ld. AO on account of alleged underreporting sales, on\nmoney received on sales, on estimate basis without invoking the provision of sec.145(3)\nand without rejecting the books of accounts, without cross examination or inquiry from\npurchasers or Bharat Manwani, also erred in not considering the material and details in\ntheir true perspective

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

154\norder dt. 27.04.2018) made by the ld. AO on account of alleged underreporting sales, on\nmoney received on sales, on estimate basis without invoking the provision of sec.145(3)\nand without rejecting the books of accounts, without cross examination or inquiry from\npurchasers or Bharat Manwani, also erred in not considering the material and details in\ntheir true perspective

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

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

154 order dt. 27.04.2018) made by the ld. AO on account of alleged underreporting sales, on money received on sales, on estimate basis without invoking the provision of sec.145(3) and without rejecting the books of accounts, without cross examination or inquiry from purchasers or Bharat Manwani, also erred in not considering the material and details in their true perspective

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

gains of business or profession" The judicial pronouncements relied upon by the appellant also approve this view. Ld ITAT in its order for AY 2016-17 in the case of appellant has also computed income of the appellant without making separate addition on account of section 40(a)(ia) of the Act though the appellant had disallowed amount