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 68 r.w.s. 115BBE of the IT Act, 1961 @ 60% by the ld. AO. 3.3 Ld. AO also noted from the computation of income filed that the assessee has claimed Short Term Capital Gain of Rs. 17,19,605/- on account of sale of immovable properties. Ld. AO considering the fact that the assessee engaged in the business of real

RAMESH RAJ BHRA,JALORE vs. DCIT,BARMER CIRCLE,, BARMER

In the result, appeal of the assessee is allowed

Bench: Shri R.C. Sharma & Shri Sandeep Gosain(Respondent) Pan: Aappb 7135 G

4. The Assessing Officer found the sale to be not taxable as capital gain, but it was found to be a business income, and for that, the Assessing Officer found, that the original land is surrounded by many lands of his near relatives and family members, and if the plots would have been carved out from his land alone, they

PUSHAP RAJ BOHRA ,JALORE vs. DCIT, BARMER CIRCLE, BARMER

In the result, appeal of the assessee is allowed

Bench: Shri R.C. Sharma & Shri Sandeep Gosain(Respondent) Pan: Aanpb 4456 C

4. The Assessing Officer found the sale to be not taxable as capital gain, but it was found to be a business income, and for that, the Assessing Officer found, that the original land is surrounded by many lands of his near relatives and family members, and if the plots would have been carved out from his land

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

4. That the tax effect involved in this case is above the limit laid down in Circular No. 17/2019 dated 08.08.2019 issued by the CBDT, (Judicial Section) New Delhi." 2. The sole issue challenged by the revenue is that the CIT (A)/NFAC was not justified in treatment of the income from the sale of immovable properties as capital gains

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

In the result, the appeal of the assessee is allowed

capital gain (LTCG) on sale of a residential property which was set-off towards purchase of two residential properties - Accordingly, assessee sought exemption under section 54 - Assessing Officer in view of amended provision of section 54 restricted assessee's claim to purchase value of only one property having higher value Whether since amendment to provision of section 54 restricting deduction

SUKHDEV CHAYAL,BIKANER vs. PCIT-1,, JODHPUR

In the result, this appeal of the assessee is allowed

Bench: Shri Sandeep Gosain & Shri Vikram Singh Yadavassessment Year: 2016-17 Sukhdev Chayal, Vs. Pr.Cit-1, Near Ratan Sagar Well, Jodhpur. Bikaner. Pan No. Afjpc 9250 J

4: During the year under consideration, the assessee has obtained unsecured loans amounting to Rs.1,95,34,000 from various persons, but creditworthiness of none of them was verified by the AO by invoking the provisions of Section 131 or Section 133(6) of the Income Tax Act, 1961. During the course of proceedings all the duly signed account statement

SMT. CHANDRA KANTA CHOUDHARY,BHILWARA vs. ITO, WARD-3,, BHILWARA

In the result, this appeal of the assessee is allowed

Bench: Shri Sandeep Gosain & Shri Manoj Kumar Aggarwalsmt. Chandra Kanta Choudhary, Vs. I.T.O. 135, Main Sector, Ward-3, Bhilwara. Bhilwara. Pan No. Abxpc 9134 H Assessee By Shri Sunil Porwal (Ca) Revenue By Shri A.S. Yadav, Jcit-Dr Date Of Hearing 03.11.2020 Date Of Pronouncement 29/01/2021 O R D E R Per: Bench This Is The Appeal Filed By The Assessee Against The Order Of The Ld. Cit(A), Ajmer Dated 10/01/2018 For The Ay. 2014-15, Wherein The Assessee Has Raised The Following Grounds Of Appeal: “1. That On The Facts & In The Circumstances Of The Case, The Ld. Cit(A) Ought To Have Quashed The Order Passed By Ld Ao As The Order Passed By Ld Ao Without Jurisdiction & Also Contrary To The Guideline Issued By The Hon’Ble Cbdt. 2. That On The Facts & In The Circumstances Of The Case, The Ld. Cit(A) Erred In Sustaining Addition Of Rs. 89,39,398/- In Respect Of Long Term Capital Gain Particularly When Same Was Never Subject Matter Of Limited Scrutiny. 3. That On The Facts & In The Circumstances Of The Case, The Ld. Cit(A) Erred In Confirming Addition Made By Ld Ao Which He Could Not Have Made As The Jurisdiction Of The Ld Ao Was Limited.

4. That on the facts and in the circumstances of the case, the ld. CIT(A) erred in sustaining addition of Rs. 89,39,398/- as long term capital gain particularly when the land sold by the assessee was an agricultural land not capital assets U/s 2(14) of the Act. 5. That on the facts and in the circumstances

MAHENDRA RATHI,BIKANER vs. ITO, BIKANER

Capital Gains Tax on sale of Land. The Case Law relied by\nthe AR of the assessee that of Amritsar Bench in the case Lateef Ahmad Gujree\nVs. ITO in I.T.A. No. 24/Asr/2024 Assessment Year: 2010-11 dated 04.06.2024 and\nother Benches are distinguishable on peculiar facts of the present case.\n5. In is settled law that at the stage

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

capital gain”. However, during the assessment proceedings the AO had also made substantial verification & examination on the other issue as the case may be taken up for comprehensive scrutiny, without following legal procedure and necessary approval of the competent authority, conducting an enquiry on the issue which is outside the limited scrutiny would be beyond the jurisdiction

RACHNA GOYAL,JODHPUR vs. ITO, WARD-1(2), JODHPUR

In the result, appeal of the assessee is dismissed

capital gain arisen due to transaction of\npenny stock, has escaped assessment within the meaning of section 147 of the I.T.\nAct, 1961, on account of failure of the assessee to file the return of income and\ndisclose fully and truly the material facts relating to the above transaction.\nThe assessee had already filed its return of income

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

BABULAL ALIAS BALU RAM,JODHPUR vs. ITO, WARD-1(1), JODHPUR

In the result appeal of the assessee is allowed

Bench: Shri N.K. Saini & Shri Sandeep Gosainassessment Year: 2012-13

capital gains under section 45 of the Income Tax Act. 4. THAT the learned CIT (Appeals) has erred in upholding

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

In the result, both appeals of the assessee are allowed

4) of section 54F, where, in the case of an assessee being an individual or a Hindu Undivided Family, the capital gain

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

In the result, both appeals of the assessee are allowed

4) of section 54F, where, in the case of an assessee being an individual or a Hindu Undivided Family, the 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.\n4.\nNow, the assessee has filed the present appeal before the Tribunal.\nThe first ground of appeal before us is a legal ground relates to passing the\norder under section 153A read with section 143(3) of the IT Act, 1961 without\nappreciating true and correct facts of the case and documentary evidences brought\non record

MURLIDHAR KRIPLANI,UDAIPUR vs. ITO, WARD-2(3), UDAIPUR

In the result, the appeal of the assessee is allowed

Bench: Completing The Assessment Of Income Which Is Mandatory In Sh. Murlidhar Kriplani Vs. Ito Nature. The Commissioner Of Income Tax (Appeals) Also Confirmed That Where Return Of Income Filed Beyond Time As Contemplated Under Section 139, It Is Not Necessary On Part Of Ao To Issue Notice U/S 143(2) Which Is Bad In Law & Unjustified & Not Tenable As Per The Hon'Ble Rajasthan High Court Jaipur Bench In Case Of Ito Vs Kamla Devi Sharma In Db

4,27,217/- under the head capital gains. Subsequently, the assessee was served with notice under section 148 read with

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

In the result, appeal of the assessee in ITA No

4 of 1988), shall apply to and in relation to any action initiated for the imposition of penalty on or before the 31st day of March, 1989. Explanation.—In computing the period of limitation for the purposes of this section,— (i) the time taken in giving an opportunity to the assessee to be reheard under the proviso to section

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

4 Shri Badri Prasad Sale Consideration Rs. 3,28,87,500/- Less: Transfer expense Rs. 3,28,875/- 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