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

155 taxmann.com 578 (Delhi - Trib.). The relevant paragraphs are annexed as below: “14. Moreover, valuation of an unquoted equity share, in terms of rule 11UA of the Rules can, at the option of the assessee, be determined as per either NAV Method or as per DCF Method, which means that the option is given to the assessee and once

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

155 taxmann.com 578 (Delhi - Trib.). The relevant paragraphs are annexed as below: “14. Moreover, valuation of an unquoted equity share, in terms of rule 11UA of the Rules can, at the option of the assessee, be determined as per either NAV Method or as per DCF Method, which means that the option is given to the assessee and once

NAHAR COLOURS AND COATINHGS PRIVATE LIMITED,UDAIPUR vs. PRINCIPAL COMMISSIONER OFINCOMETAX, UDAIPUR

In the result, appeal of the assessee is allowed

depreciation claimed thereon. the assessing authority was bound to consider the Explanation. Simply because the facts have been disclosed by the assessee, it does not give immunity from revisional jurisdiction which the Commissioner can exercise under section 263 and as such even in a case where the facts have been disclosed by the assessee to the assessing authority

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

sections is mandatory but consequential to Income. The A O is directed to allow consequential relief to the assessee while giving effect to this appeal order. 9 The fifth ground of appeal is as under "The Ld. AO has erred in initiating penalty proceedings uis 274 and 271(1)(C) 9.1 The initiation of penalty is not appealable. The ground

SATYA NARAYAN CHOUDHARY ,UDAIPUR vs. DCIT, CENTRAL CIRCLE-1, UDAIPUR

In the result, appeal of the assessee is allowed in part

Bench: Shri R.C. Sharma & Shri Sandeep Gosainsatya Narayan Choudhary, Vs A.C.I.T., 58, Gokulpura, North Ayad, Central Circle-1, Udaipur-313001. Udaipur. (Appellant) (Respondent) Pan No. Aappc 9260 P Satya Narayan Choudhary, Vs A.C.I.T., 58, Gokulpura, North Ayad, Central Circle-1, Udaipur-313001. Udaipur.

155/- unaccounted debtors, Rs. 13,62,000/- excess stock, Rs. 28,43,409/- and on account of advance of Rs. 10.00 lacs to Shri Pawan Kumar. The assessee has 13 ITA 266 & 392/Jodh/2019 Satya Nr. Choudhary Vs ACIT not disclosed these amounts in the return of income and retracted from statement. In such a situation, it is the duty

SATYA NARAYAN CHOUDHARY ,UDAIPUR vs. ACIT, CENTRAL CIRCLE-1, UDAIPUR

In the result, appeal of the assessee is allowed in part

Bench: Shri R.C. Sharma & Shri Sandeep Gosainsatya Narayan Choudhary, Vs A.C.I.T., 58, Gokulpura, North Ayad, Central Circle-1, Udaipur-313001. Udaipur. (Appellant) (Respondent) Pan No. Aappc 9260 P Satya Narayan Choudhary, Vs A.C.I.T., 58, Gokulpura, North Ayad, Central Circle-1, Udaipur-313001. Udaipur.

155/- unaccounted debtors, Rs. 13,62,000/- excess stock, Rs. 28,43,409/- and on account of advance of Rs. 10.00 lacs to Shri Pawan Kumar. The assessee has 13 ITA 266 & 392/Jodh/2019 Satya Nr. Choudhary Vs ACIT not disclosed these amounts in the return of income and retracted from statement. In such a situation, it is the duty

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

Section 263 of the Act. The grounds of appeal raised by the assessee are as under:- 2 ITA 3/JODH/2021 PYEROTECH ELECTRONICS PVT LTD VS PR. CIT, UDAIPUR 1. That the Impugned order u/s 263 of the Act dated 18.02.2020 and notice u/s 263 are bad in law and on facts of the case and hence the same may kindly