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

2(24)(x) of the Act. Further the said amount is allowable as a ‘deduction’ under section 36 of the Act wherein section 36(1) provides ‘The deductions provided for in the following clauses shall be allowed in respect of the matters dealt with therein, in computing the income referred to in section 28’. 11. Section

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

x 25724885 / 27200000) only. However, while completing assessment full exemption for Rs. 5343588 has been allowed, as claimed by you." In response to notice u/s 263 the assessee had explained that the reason assigned by the ld PCIT, Jodhpur is factually not correct as the assessee had made the construction on the land which was obtained inherited

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

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

gain or u/s 48, 56 or u/s 68 or 69. Thus the addition so made without any provision of act is also against the law and liable to be deleted on this ground alone. When the ld. AO has not invoked any provision of Act/law then also how the ld.AO can make the addition. When

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

In the result, both appeals of the assessee are allowed

x 5317/18237) Rs. 1,30,317/- 11.3 A propose to these grounds, the bench noted that the ld. CIT(A) has not discussed the merits of the case of the assessee and has confirmed the disallowance of interest stating that there is no generation of income out of the said construction to set of expenses incurred on the loan

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

In the result, both appeals of the assessee are allowed

x 5317/18237) Rs. 1,30,317/- 11.3 A propose to these grounds, the bench noted that the ld. CIT(A) has not discussed the merits of the case of the assessee and has confirmed the disallowance of interest stating that there is no generation of income out of the said construction to set of expenses incurred on the loan

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.”

X 300 3,79,100/- 48,12,643/-  Less Depreciation Total Fair Market Value 4,01,00,000/- 6. The assessee also submitted details of such rates adopted for different assets which were placed in the paper book at pages 22 to 24, giving the land rates of agriculture, industrial land, stone patti, tin shed and 4 ITA 113/Jodh/2020 Thar

SUBHASH CHAND JAIN ,JODHPUR vs. ACIT, CIRCLE-1, JODHPUR

In the result the appeal of the assessee is allowed

Bench: Shri Sandeep Gosain & Shri Manoj Kumar Aggarwal

X 9000.00). The total value of the property including land and 10 shops comes to Rs. 11 ITA 111 & 112/Jodh/2020 Subhash Chand Jain. Vs ACIT 34,50,000.00 (Rs. 31,75,000.00 + Rs. 2,50,000.00). The AR of the assessee also submitted that the report of the DVO should not be taken as the basis for calculating the cost

SUBHASH CHAND JAIN ,JODHPUR vs. ACIT, CIRCLE-1, JODHPUR

In the result the appeal of the assessee is allowed

Bench: Shri Sandeep Gosain & Shri Manoj Kumar Aggarwal

X 9000.00). The total value of the property including land and 10 shops comes to Rs. 11 ITA 111 & 112/Jodh/2020 Subhash Chand Jain. Vs ACIT 34,50,000.00 (Rs. 31,75,000.00 + Rs. 2,50,000.00). The AR of the assessee also submitted that the report of the DVO should not be taken as the basis for calculating the cost

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