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 37

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)

Section 2(13) of the IT Act which reads as under: "Business" includes any trading, commerce or manufacture or any adventure or concern in the nature of trade, commerce or manufacture." The above definition has used the words 'trade' 'commerce' or 'manufacture' or "any adventure or concern in the nature of trade, commerce or manufacture". The Hon'ble Gujarat High

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

In the result, the appeal of the assessee is allowed

Section 54/54F. It is neither distinguished expressly prohibited." by Ld. CIT(A) 2. Smt. Hansabaisanghvi v/s ITO ; (2004) 89 ITD (Hyd) 239 Para 4.2.3 at he assesee utilized the sale proceeds on of Para 8,9, & No adverse pg 12 of the the sale of plot of land, for the purchase of a 11 of the inference order house bearing

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

2) and 142(1) of the Act were issued. In the return of income, the assessee has claimed the long-term capital gain (LTCG) as exempt under section10(38) of the Act on sale of shares of M/s Parag Shilpa Investments Ltd (in short, 'scrip'). The assessee purchased 2800 shares on 09/03/2012 for Rs.2,80,000/-. The said scrip

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

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

37,116/- (3) Received total rent from reliance life insurance Rs. 1,15,200/- Rs. 8,02,316/- 11.1 We also observe that the assessee has borrowed the money from LIC and from SBI bank in addition to the unsecured loan taken by the assessee. The interest paid by the assessee on these loans are as under:- “Interest from bank

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

In the result, both appeals of the assessee are allowed

37,116/- (3) Received total rent from reliance life insurance Rs. 1,15,200/- Rs. 8,02,316/- 11.1 We also observe that the assessee has borrowed the money from LIC and from SBI bank in addition to the unsecured loan taken by the assessee. The interest paid by the assessee on these loans are as under:- “Interest from bank

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

DCIT, CENTRAL CIRCLE-1, UDIPUR vs. M/S. WAGAD CONSTRUTION COMPANY, UDAIPUR

In the result, appeals of the Revenue are dismissed

37 of the IT Act, 1961, any expenditure incurred wholly and exclusively for the purpose of business and not being in the nature of capital expenditure or personal expenses is allowable in computing the income chargeable under the head "profits and gains" of business or profession. The onus lies on the assessee to substantiate by documentary evidences when called upon

SHRI DEVKRIPA TEXTILE MILLS (P) LTD. ,BHILWARA vs. ACIT, BHILWARA CIRCLE, BHILWARA

In the result, the appeal of the assessee is partly allowed

Bench: Shri B. R. Baskaran & Dr. S. Seethalakshmi

37(1) as business of the assessee suspended during the year under consideration. Disallowance so made and sustained may kindly be deleted. 3. That on the facts and in the circumstances of the case, the Ld. CIT (A) erred in sustaining the disallowance for Rs. 1,00,000/- out of lump sum disallowance made by Ld. AO for Rs. 2