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

gains of business or profession". It is submitted that after treating the employees’ contribution as income of the assessee, once it is paid or a liability is accrued for payment being an ascertained liability, the same is allowable as an expenditure under section 37 of the Act. 12. While section 37 provides that the expenditure should not be an expenditure

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

gains of business or profession". It is submitted that after treating the employees’ contribution as income of the assessee, once it is paid or a liability is accrued for payment being an ascertained liability, the same is allowable as an expenditure under section 37 of the Act. 12. While section 37 provides that the expenditure should not be an expenditure

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

In the result, the appeal of the assessee is allowed

capital gains, the Para 11 & No adverse pg 12 of the assessee acquired two residential flats 12 of the inference order namely a) Mayurshrishti for Rs. 38,03010/- order at drawn by ld. and b) Shanti Gardens for Rs. 37,73,590/- page No. 80- CIT(A) comprising two agreements.” 81 of PB 4. CIT v/s D Ananda Basappa

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

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 was sold in the financial year 2014-15 for Rs,.1,58,67,077/- through the broker, Shri Suresh Rathi. The assessee

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

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

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

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