SANJU SONI,JODHPUR vs. ITO, WARD-1(1), JODHPUR

14. In view of the above findings, both the appeals deserve to be allowed

Bench: Dr. MITHA LAL MEENA (Accountant Member), SHRI NARINDER KUMAR (Judicial Member)

loss,— (a) carried forward or depreciation from any earlier assessment year, if such loss or depreciation is attributable to any of the deductions

SANJU SONI,JODHPUR vs. ITO, WARD-1(1), JODHPUR

14. In view of the above findings, both the appeals deserve to be allowed

Bench: Dr. MITHA LAL MEENA (Accountant Member), SHRI NARINDER KUMAR (Judicial Member)

loss,— (a) carried forward or depreciation from any earlier assessment year, if such loss or depreciation is attributable to any of the deductions

SATYA NARAYAN DHOOT,JODHPUR vs. PR. CIT-1, JODHPUR

In the result, the appeal of the assessee is allowed in respect of above said three issues

Bench: Shri B.R. Baskaran (Am) & Shri Sandeep Gosain (Jm) I.T.A. No. 49/Jodh/2022 (A.Y. 2017-18) Vs. Pcit-1 Satya Narayan Dhoot C/O Rajendra Jain Advocate Jodhpur 106, Akshay Deep Complex 5Th B Road, Sardarpura Jodhpur, Rajasthan-342 001. Pan : Aanpd4945L (Appellant) (Respondent) Assessee By Shri Rajendra Jain Department By Smt. Alka Rajvanshi Jain Date Of Hearing 03.11.2022 Date Of Pronouncement 17 .01.2023 O R D E R Per B.R.Baskaran (Am) :-

depreciation should have been deducted from the profits generated from M- 77 before computing deduction u/s 80IA of the Act. Since it was not so set off, it has rendered the assessment order to be erroneous and prejudicial to the interests of revenue. 3 Satya Narayan Dhoot 4. The Ld A.R submitted that the assessee has taken the initial year

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

forward of unabsorbed loss of Rs. 5,52,17,083/- (b/f loss of AY 2016-17 Rs.3,17,161 + current year's loss of Rs.5,48,99,877/-). The case was selected for scrutiny through CASS and notice u/s 143(2) dated 17.08.2018 was digitally served on the registered email of the assessee- company through ITBA module by the DCIT

KAUSHALIYA DEVI DHOOT,JODHPUR vs. PR. CIT-1, JODHPUR

In the result, the appeal filed by the assessee is allowed

Bench: Shri B. R. Baskaran & Shri Sandeep Gosainkaushaliya Devi Dhoot Vs Pr. Cit-1, 0, Lodha Street 1St A Road, Jodhpur Sardarpura, Jodhpur (Appellant) (Respondent) Pan No. Aanpd 4947 J

carried forward to succeeding years. However, while computing deduction u/s 80IA of the Act in A.Y 2017-18 against the profits generated from Wind Power unit, the assessee did not deduct unabsorbed depreciation brought forward from the earlier year, apparently on the reasoning that the initial year for claiming deduction u/s 80IA was taken

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

In the result, appeals of the Revenue are dismissed

carried forward in the subsequent year, it would not prove that the trading liabilities the assessee have become non existent. 6.2 The aforesaid decision of the Division Bench in the case of Nitin S. Garg (supra) has been considered and followed by the Division Bench of this Court in the case of Bhogilal Ramjibhai Atara (supra) and the addition made

THE LAKE PALACE HOTELS & MOTELSPRIVATE LIMITED,UDAIPUR vs. PCIT,CIRCLE-2, UDAIPUR

In the result, appeal of the assessee is allowed

depreciation / B/f business losses & paid taxes on MAT. The case of the assessee was selected for complete scrutiny and after issue of notice u/s 143(2)/ 142(1) the assessment was completed u/s 143(3) vide order dated 28/12/2019 after thoroughly considering the reply furnished by the assessee at a total income of Rs.10,85,93,969/- by making following

M/S. SUNIL & COMPANY,JODHPUR vs. ACIT, CIRCLE-1, JODHPUR

In the result, appeal of the assessee is allowed

Bench: Its Hearing Before Your Honour.”

forward until it becomes nil by reducing its amount from income of any subsequent year. In this way it is outflow of fund. I do concur with the view of the AO. In the case of Bombay Sales Corporation [2017] 86 taxmann.com 9 (Ahmedabad - Trib.) held that, since no interest free own funds were available at disposal of assessee, disallowance

M/S. NOKHA AGRO SERVICES,,BIKANER vs. PR. CIT, , BIKANER

In the result, appeal of the assessee is allowed

Bench: Shri R.C.Sharma & Shri Sandeep Gosainm/S Nokha Agro Services, 18 Vs Pr. Commissioner Of Income Km Stone, Nh-15, Tax, Sriganganagar Road, Bikaner. Bikaner. (Appellant) (Respondent) Pan: Aaffn 8164 R

loss during storage due to excessive moisture, pre storage bulk grain dumping and drying facilities, creation of facilities for mechanized sampling, weighing and detection of live infectants, mechanized receiving and handling by storing in Silos equipped with facilities of aeration and fumigation, loading and unloading facilities and traffic management and dumping pits, chain conveyors, elevators and facilities for mechanized shipment

SHREE RAM COLLOIDS PRIVATE LIMITED,JODHPUR vs. PRINCIPAL CIT(1), JODHPUR

In the result, the appeal of the assessee bearing ITA No

Bench: Dr. Mitha Lal Meena & Shri Anikesh Banerjeeshree Ram Colloids Private Vs Principal Commissioner Of Income Limited, Tax (1), Jodhpur C-79, Mia, Phase-Ii, Jodhpur- 342 005 Pan: Aakcs5803L Appellant Respondent

carrying out all the activities which are relevant for earning the income for these properties by extending various facilities. The income arising there from is necessarily assessable under the head Income from Business and profession and assessee and accordingly the claim of depreciation was in order. Your kind attention is also invited towards the decision of Hon'ble Supreme Court

M/S. DEEPAK & COMPANY INFRA PVT. LTD. ,SRI GANGANAGAR vs. ITO, WARD-1, SRIGANAGNAGAR

In the result, the appeal of the assessee is allowed

loss account, balance sheet as per Rule 18BBB was maintained by the assessee for which separate Form 10CCB was required to be filed. The assessee has filed a single Form 10CCB for its entire business. Apart from this, in column No. 13 of the Form l0CCB, the assessee has claimed to have attached agreement as required under Rule 18BBB

SATYA NARAYAN DHOOT,JODHPUR vs. ACIT, CIRCLE-3, JODHPUR

In the result, the appeal of the assessee is allowed

loss or costs incurred as a result of such non payment. 12. Liquidity Damages • As you are aware that timely delivery of WTG is crucial for the timely commissioning of the WTG, any delay in delivery of WTG shall result in delayed commissioning of our Wind Farm Project. In order to make you stick to the target, you shall

SHRI JAITESHWAR SEVA SANSTHAN,JODHPUR vs. CIT (EXEMPTION), JAIPUR

In the result, the appeal of the assessee bearing ITA No

Bench: Us By Challenging The Revisional Order.

carrying out all the activities which are relevant for earning the income for these properties by extending various facilities. The income arising there from is necessarily assessable under the head Income from Business and profession and assessee and accordingly the claim of depreciation was in order. Your kind attention is also invited towards the decision of Hon'ble Supreme Court

M/S. PYROTECH ELECTRONICS PVT. LTD.,UDAIPUR vs. PR. CIT, UDAIPUR

In the result, appeal of the assessee is allowed

Bench: Shri B. R. Baskaran & Shri Sandeep Gosain

depreciation has been claimed on such assets. (vi). During the year, the assessee has obtained loans and advances from various persons and also have advanced loans to various persons as per details as given as per column No. 31 of the Audit Report u/s 44AB of the Act. However, it is seen that creditworthiness and identities of the lenders from

IDANA PET INDUSTRIES P. LTD. ,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

loss . The appellant company is a closely held company and the shares are mostly issued to the Directors and the son of the Director. Hence, the Assessing Officer came to the conclusion that the issue of share premium is very disproportionate looking to the financial position of the appellant company. The Assessing Officer has analyzed how Discounted Cash Flow method

IDANA PET INDUSTRIES P. LTD. ,UDAIPUR vs. ACIT, CIRCLE-1, UDAIPUR

In the result, the appeal of the assessee bearing ITA No

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

loss . The appellant company is a closely held company and the shares are mostly issued to the Directors and the son of the Director. Hence, the Assessing Officer came to the conclusion that the issue of share premium is very disproportionate looking to the financial position of the appellant company. The Assessing Officer has analyzed how Discounted Cash Flow method