SHRI TRILOCK CHAND BUGALIYA,NAGAUR vs. ITO, WARD-2, NAGAUR

In the result, appeal of the assessee is allowed

Bench: Shri Pavan Kumar Gadale & Dr. Dipak P. Ripoteassessment Year : 2009-10 Shri Trilock Chand Bugaliya, Income Tax Officer, C/O Rajendra Jain Advocate, Vs Ward-2, Makrana 106 Akshay Deep Complex, 5Th B Road, Sardarpura, Jodhpur Pan: Acvpb6833F Appellant / Assessee Respondent / Revenue Assessee By Shri Rajendra Jain, Advocate & Smt. Raksha Birla, C.A. 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 Against The Order Of Ld. Commissioner Of Income Tax (Appeals)-2, Jodhpur Dated 14.02.2020 Emanating From The Assessment Order Under Section 143(3) R.W.S. 147 Dated 30.03.2013 Passed By Income Tax Officer, Ward-2, Makrana. The Assessee Has Raised The Following Grounds Of Appeal : Shri Trilock Chand Bugaliya

section 50C of the Act particularly when the transaction is an adventure of nature of trade. 3. That on the facts and in the circumstances of the case, the ld CIT (A) erred in upholding the finding of ld AO that profit derived from sale of land as income from capital gain particularly when the assessee had claimed the same

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

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

50C Rs.3,28,87,500/- Sale Consideration Received Rs. 3,28,87,500/- 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

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

MANGILAL DATLA,BANSWARA vs. INCOME TAX OFFICER, WARD BANSWARA, BANSWARA

In the result, the appeal filed by the assessee is allowed, both on legal issue\nas well as on facts

50C of\nthe Act. The reasons recorded nowhere mentioned this possibility. Reasons recorded, in\nfact, ignored the fact that the sale consideration as per the sale deed was Rs. 50 lakhs and\nthat the assessee had by filing the return offered his share of such proceeds by way of\ncapital gain.\"\n1.2.2 In the case of Vijay Harish Chandra Patel

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

section 145 are not found to\nbe relevant in the facts of this case. The AO has not disturbed the book results as the cash\ntransactions are not part of regular books of accounts.\nThe ld CIT(A) has also tried to distinguish the decisions relied upon. Thus on the\nbasis of above observations the ld. CIT(A) confirmed

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

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

2 At the outset of the hearing, the Bench noted that both the appeals are barred by limitation of 93 days. The ld. AR of the assessee has furnished a letter owning up responsibility for the delay on account of some personal inconveniences. Accordingly, we are of the view that there was a reasonable cause for the delay in filing

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.

Capital Gain by taking into consideration the actual sale consideration received by the assessee. The fact of actual sale consideration received by the assessee has not been disputed by the Assessing Officer but the addition was made simply by applying the deeming provisions of 3 M/s Suraj Fabrics Industries Ltd. section 50C. Therefore, in view of the various decisions