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 gain, as office premises by assessee were acquired with an intention to resell and not use, same could be treated as stock in trade and not as investment and thus, surplus was assessable as business income. The relevant para 12 of the Judgement reads as under: 12. Though it is sought to be contended by the Appellant-Assessee that

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

In the result, the appeal of the assessee is allowed

capital gain. The ld. AO has not considered the law full submission made by the assessee and rectified the assessment u/s 154 of the Income Tax Act and make addition of Rs. 20,54,894/- vide order dated 13.06.2018. 4. Aggrieved, from the said order of assessment the assessee has filed an appeal before

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

28,875/- Less: Indexed Cost of Acq. FY 1981-82 274000/100*852 Rs. 23,34,480/- Rs. 3,02,24,145/- Deduction u/s 54B Rs. 3,02,24,145/- Capital Gain Nil The assessee was asked to file evidence regarding sale, transfer expenses, exemption claimed u/s. 54B. In response the assessee filed two agreements for purchase of different lands

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

In the result, appeal of the assessee in ITA No

28-06-2019 by taking the ground of limitation stating that the order passed by the ld. CIT(A) ordering the levy of the penalty was barred by limitation in accordance with the provision of section 275(1)(c) of the Act. Therefore, it is relevant to extract the provision of the said section and the same is as under

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

28’. 11. Section 37(1) of the Act being a ‘General’ section provides that Any expenditure (not being expenditure of the nature described in sections 30 to 36 and not being in the nature of capital expenditure or personal expenses of the assessee), laid out or expended wholly and exclusively for the purposes of the business or profession shall

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

28’. 11. Section 37(1) of the Act being a ‘General’ section provides that Any expenditure (not being expenditure of the nature described in sections 30 to 36 and not being in the nature of capital expenditure or personal expenses of the assessee), laid out or expended wholly and exclusively for the purposes of the business or profession shall

UTTAM CHAND SINGHI,SIROHI vs. ITO, WARD, SIROHI

Bench: Shri B. R. Baskaran & Dr. S. Seethalakshmishri Uttam Chand Singhi Vs Ito Sadar Bazar, Ward-Sirohi Sirohi (Raj) (Appellant) (Respondent) Pan No. Acups 5999L Shri Bhanwar Lal Singhi Vs Ito Sadar Bazar Ward-Sirohi Sirohi (Raj) (Appellant) (Respondent) Pan No. Acups 5999L

28-07-2017 for the 2 assessment year 2011-12 in their respective hands. Since the issues raised in both the appeals are identical in nature and arise out of common set of facts, they were heard together and are being disposed of though this common order, for the sake of convenience. 2 At the outset of the hearing

NARAYANI BAI DANGI,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 Banerjeei.T.A. No.42/Jodh/2022 Assessment Year: 2016-17

section 54B of the Act. Accordingly, the claim u/s 54B amount to Rs.15,53,112/- was rejected by the ld. AO and calculated the capital gain accordingly. Being aggrieved assessee filed an appeal before the ld. CIT(A). The ld. CIT(A) denied the assessee’s claim that the said agricultural land is non functional, so, it cannot be accepted

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

Capital Gains as provided in section 70 of the Act. 3 The appellant craves leave to add, alter, amend, modify and/or delete all or any of the grounds of the appeal on or before the final hearing, if necessary.” 3. Brief fact of the case is that the assessee is an employee and working as professor at Mohan Lal Sukhadia

ACIT, CIRCLE, BHILWARA vs. M/S. SURAJ FABRICS INDUSTRIES LTD. , KOLKATA

In the result appeal of the revenue is dismissed

Bench: Shri Pavan Kumar Gadale & Dr. Dipak P. Ripoteassessment Year: 2010-11 Assistant Commissioner M/S Suraj Fabrics Industries Of Income-Tax, Circle, Vs Ltd., 224A, Elegant Tower, Bhilwara A.J.C. Bose Road, Kolkata, West Bengal Pan: Aabcs8988B Appellant / Revenue Respondent / Assessee Revenue By Smt. Alka Rajvanshi Jain, Cit-Dr Assessee By None Date Of Hearing 11.08.2023 Date Of Pronouncement 11.08.2023 Order Per Dr. Dipak P. Ripote, Am: This Is An Appeal Filed By The Department Against The Order Of Ld. Commissioner Of Income Tax (Appeals), Ajmer Dated 06.09.2017 Deleting The Penalty Under Section 271(1)(C) Of The Act For A.Y. 2010-11. The Assessee Has Raised Following Grounds Of Appeal As Under:- “1. Cancelling The Penalty Levied For Addition Of Unexplained Cash Credit On A/C Of Share Capital Of 10,00,00,000/- Without Appreciating The Facts That The Quantum Addition Made By The Ao Was Confirmed By The Ld.Cit(A) As The Identity & M/S Suraj Fabrics Industries Ltd.

28,950/- made under the head "long term capital gain", the appellant, relying on the decision of ITAT "E" Bench Mumbai in the case of ACIT, 14(1), Mumbai vs. M/s Sunland Metal Recycling (ITA No. 6454/Mum/2011, A.Y. 2008-09) has contended that no penalty u/s 271(1)(c) can be levied in respect of the addition made by invoking

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

PARASMAL SAREMAL GOGAD,PALI vs. ITO, , PALI

In the result, appeal of the assessee is allowed

capital gains, that however in his letter dated January 28, 2015,\nhe had stated that he had purchased the land in the financial year\n2006-07 during the course of his business activity and had held it as\nstock-in-trade, and that these were contradictory in nature, On\nfurther appeal, the Tribunal found that according to the financial\nstatements

UMMAID MAL SINGHVI,JODHPUR vs. ACIT, CENTRAL CIRCLE-2, JODHPUR

Accordingly, legal ground raised by the assessee is allowed for statistical purpose

Bench: Shri Pavan Kumar Gadale & Dr. Dipak P. Ripoteassessment Year : 2008-09 Shri. Ummaid Mal Singhvi, Acit, C/O Rajendra Jain Advocate, Vs Central Circle-2, 106 Akshay Deep Complex, 5Th Jodhpur B Road, Sardarpura, Jodhpur Pan: Abpps7429D Appellant / Assessee Respondent / Revenue Assessee By Shri Rajendra Jain, Advocate Revenue By Ms. Nidhi Nair, Jcit-Dr Date Of Hearing 07.08.2023 Date Of Pronouncement 07.08.2023 Order Per Dr. Dipak P. Ripote, Am: This Is An Appeal Filed By The Assessee Directed Against The Order Of Ld. Commissioner Of Income Tax (Appeals)-2, Udaipur Dated 30Th September, 2019 For Assessment Year 2008-09 Emanating From The Penalty Order Under Section 271Aaa Of The Income Tax Act Passed By Assistant Commissioner Of Income Tax, Circle-2, Jodhpur. The Assessee Has Raised The Following Grounds Of Appeal : Ummaid Mal Singhvi

28,54,307/- as: a) The finding recorded by the Ld. AO that the assessee declared a loss of 12,87,327 vide return u/s 139(1) dated 30/09/2008 is perverse and without verification of the records. The original return of income was filed on 31/07/2008 vide acknowledgement no 38031599 showing total income of 12,87,3271- therefore the imposition

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

28 of the assessment order.\nHe also stated that during the course of assessment the registries of the flats sold\nduring the year were obtained and payment details have been verified from the\nregular books of accounts and found that none of the cash transactions as reported\nin the seized pages match with receipts shown in the books of accounts

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

gain or u/s 48, 56\nor u/s 68 or 69. Thus the addition so made without any provision of act is also against the\nlaw and liable to be deleted on this ground alone. When the ld. AO has not invoked any\nprovision of Act/law then also how the ld.AO can make the addition. When in the law\nand

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

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

In the result, appeals of the assessee are partly allowed

gain or u/s 48, 56\nor u/s 68 or 69. Thus the addition so made without any provision of act is also against the\nlaw and liable to be deleted on this ground alone. When the ld. AO has not invoked any\nprovision of Act/law then also how the ld.AO can make the addition. When in the law\nand

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

In the result, appeals of the Revenue are dismissed

gains of business or profession and accordingly chargeable to Income-tax as the income of that previous year, whether the business or profession in respect of which the allowance or deduction has been made is in existence in that year or not; or ** ** ** M/s. Wagad Construction Co. & M/s. Wagad Infra Project Pvt. Ltd., Udaipur. [Explanation 1 - For the purposes