M.G.B. GRAMIN BANK (THROUGH SUCCESSOR RAJASTHANMARUDHARA GRAMIN BANK),JODHPUR vs. ADDITIONAL CIT, PALI

Appeals are disposed off in the terms indicated as above

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

vii), 36(!)(viia) and 37(1) of the Income—Tax Act. The Board at Para No. (xi) has categorically mentioned that 'section 37 of the Income—Tax Act envisages that an amount debated in the profit and loss account in respect of accrued or ascertained liability only is an admissible deduction, while any provision in respect of any un— ascertained

M.G.B. GRAMIN BANK (THROUGH SUCCESSOR RAJASTHANMARUDHARA GRAMIN BANK),JODHPUR vs. ACIT, PALI

Appeals are disposed off in the terms indicated as above

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

vii), 36(!)(viia) and 37(1) of the Income—Tax Act. The Board at Para No. (xi) has categorically mentioned that 'section 37 of the Income—Tax Act envisages that an amount debated in the profit and loss account in respect of accrued or ascertained liability only is an admissible deduction, while any provision in respect of any un— ascertained

M.G.B. GRAMIN BANK (THROUGH SUCCESSOR RAJASTHANMARUDHARA GRAMIN BANK),JODHPUR vs. ADDITIONAL CIT, PALI

Appeals are disposed off in the terms indicated as above

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

vii), 36(!)(viia) and 37(1) of the Income—Tax Act. The Board at Para No. (xi) has categorically mentioned that 'section 37 of the Income—Tax Act envisages that an amount debated in the profit and loss account in respect of accrued or ascertained liability only is an admissible deduction, while any provision in respect of any un— ascertained

M.G.B. GRAMIN BANK (THROUGH SUCCESSOR RAJASTHANMARUDHARA GRAMIN BANK),JODHPUR vs. ACIT, PALI

Appeals are disposed off in the terms indicated as above

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

vii), 36(!)(viia) and 37(1) of the Income—Tax Act. The Board at Para No. (xi) has categorically mentioned that 'section 37 of the Income—Tax Act envisages that an amount debated in the profit and loss account in respect of accrued or ascertained liability only is an admissible deduction, while any provision in respect of any un— ascertained

ACIT, CIRCLE, PALI. vs. M/S. RAJASTHAN MARUDHARA GRAMIN BANK, , JODHPUR

Appeals are disposed off in the terms indicated as above

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

vii), 36(!)(viia) and 37(1) of the Income—Tax Act. The Board at Para No. (xi) has categorically mentioned that 'section 37 of the Income—Tax Act envisages that an amount debated in the profit and loss account in respect of accrued or ascertained liability only is an admissible deduction, while any provision in respect of any un— ascertained

PATEL MINERALS PVT. LTD. ,UDAIPUR vs. ACIT, CIRCLE-1, UDAIPUR

In the result, the appeal of the assessee is allowed

Bench: DR. S. SEETHALAKSHMI, J (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

disallowances. Thereafter, a notice u/s 263 notice was received by the assessee from the ld PCIT, Udaipur stating that the report required for this purpose should be from the FCA i.e. the fellow member of the ICAI whereas the report in question was obtained from an associate member of the ICAI. As this point was ignored

MEWAR HOSPITAL PVT. LTD. ,UDAIPUR vs. ACIT, CENTRAL CIRCLE-2, UDAIPUR

In the result the appeal of the assessee in ITA No

vii) However, I concur with the submissions of the appellant that the gross receipts cannot be taxed as income of the appellant. I am of the opinion that the entire gross receipts of Rs. 1,67,54,824/- could not have been added as income of the appellant for the assessment year in question but it will be appropriate

MEWAR HOSPITAL PVT. LTD. ,UDAIPUR vs. ACIT, CENTRAL CIRCLE-2, UDAIPUR

In the result the appeal of the assessee in ITA No

vii) However, I concur with the submissions of the appellant that the gross receipts cannot be taxed as income of the appellant. I am of the opinion that the entire gross receipts of Rs. 1,67,54,824/- could not have been added as income of the appellant for the assessment year in question but it will be appropriate

ACIT, CENTRAL CIRCLE-2, UDAIPUR, UDAIPUR vs. M/S MEWAR HOSPITAL PVT. LTD., UDAIPUR

In the result the appeal of the assessee in ITA No

vii) However, I concur with the submissions of the appellant that the gross receipts cannot be taxed as income of the appellant. I am of the opinion that the entire gross receipts of Rs. 1,67,54,824/- could not have been added as income of the appellant for the assessment year in question but it will be appropriate

MEWAR HOSPITAL PVT. LTD. ,UDAIPUR vs. ACIT, CENTRAL CIRCLE-2, UDAIPUR

In the result the appeal of the assessee in ITA No

vii) However, I concur with the submissions of the appellant that the gross receipts cannot be taxed as income of the appellant. I am of the opinion that the entire gross receipts of Rs. 1,67,54,824/- could not have been added as income of the appellant for the assessment year in question but it will be appropriate

MEWAR HOSPITAL PVT. LTD. ,UDAIPUR vs. ACIT, CENTRAL CIRCLE-2, UDAIPUR

In the result the appeal of the assessee in ITA No

vii) However, I concur with the submissions of the appellant that the gross receipts cannot be taxed as income of the appellant. I am of the opinion that the entire gross receipts of Rs. 1,67,54,824/- could not have been added as income of the appellant for the assessment year in question but it will be appropriate

ACIT, CENTRAL CIRCLE-2, UDAIPUR, UDAIPUR vs. M/S MEWAR HOSPITAL PVT. LTD., UDAIPUR

In the result the appeal of the assessee in ITA No

vii) However, I concur with the submissions of the appellant that the gross receipts cannot be taxed as income of the appellant. I am of the opinion that the entire gross receipts of Rs. 1,67,54,824/- could not have been added as income of the appellant for the assessment year in question but it will be appropriate

ACIT, CENTRAL CIRCLE-2, UDAIPUR, UDAIPUR vs. M/S MEWAR HOSPITAL PVT. LTD., UDAIPUR

In the result the appeal of the assessee in ITA No

vii) However, I concur with the submissions of the appellant that the gross receipts cannot be taxed as income of the appellant. I am of the opinion that the entire gross receipts of Rs. 1,67,54,824/- could not have been added as income of the appellant for the assessment year in question but it will be appropriate

MEWAR HOSPITAL PVT. LTD. ,UDAIPUR vs. ACIT, CENTRAL CIRCLE-2, UDAIPUR

In the result the appeal of the assessee in ITA No

vii) However, I concur with the submissions of the appellant that the gross receipts cannot be taxed as income of the appellant. I am of the opinion that the entire gross receipts of Rs. 1,67,54,824/- could not have been added as income of the appellant for the assessment year in question but it will be appropriate

MEWAR HOSPITAL PVT. LTD. ,UDAIPUR vs. ACIT, CENTRAL CIRCLE-2, UDAIPUR

In the result the appeal of the assessee in ITA No

vii) However, I concur with the submissions of the appellant that the gross receipts cannot be taxed as income of the appellant. I am of the opinion that the entire gross receipts of Rs. 1,67,54,824/- could not have been added as income of the appellant for the assessment year in question but it will be appropriate

DCIT,CIRCLE, SRIGANGANAGAR vs. M/S. KANDA EDIBLE OIL P. LTD. , SRIGANGANAGAR

In the result, appeal of the revenue is dismissed and CO of the assessee is allowed

Bench: Shri Sandeep Gosain & Shri Manoj Kumar Aggarwald.C.I.T. Vs. M/S Kanda Edible Oil Pvt. Ltd. Circle, E 173, Udyog Vihar Sriganganagar. Sriganganagar. Pan No. Aacck 7754 Q

section 36(1)(iii) is not as per law for which reliance is placed on the following decisions: (i) CIT Vs. Shoorji Vallabhdas And Co. (1962) 46 ITR 144 (SC) (ii) B and A Plantations and Industries Ltd. Vs. CIT 242 ITR 22 (Gauhati) (HC) 8. We have heard the Ld. Counsels of both the parties and have perused

DCIT,CIRCLE, SRIGANGANAGAR vs. M/S. KANDA EDIBLE OIL P. LTD. , SRIGANGANAGAR

In the result, appeal of the revenue is dismissed and CO of the assessee is partly allowed

Bench: Shri Sandeep Gosain & Shri Manoj Kumar Aggarwald.C.I.T. Vs. M/S Kanda Edible Oil Pvt. Ltd. Circle, E 173, Udyog Vihar Sriganganagar. Sriganganagar. Pan No. Aacck 7754 Q

section 36(1)(iii) of the Income Tax Act, 1961 is not as per law. He placed reliance on the decisions referred in the order of Ld. CIT(A) (supra). 7. The Ld. D/R relied on the order of AO by arguing that assessee has not filed any evidence linking that own funds have been utilised for giving the interest

ITO, WARD-1, PALI vs. SHRI MANISH PJAIN, PALI

In the result, the appeal of the Department is dismissed

Bench: Shri B. R. Baskaran & Dr. S. Seethalakshmithe Ito Vs Shri Manish P Jain Ward-1, 201, Landmark Society Pali J.P. Road, Andheri West, Mumbai-400058 (Appellant) (Respondent) Pan No. Ajcpj 5271 F

vii) That considering above factual position it is respectfully requested to kindly admit the confirmation of all parties for which Id. AO made addition and/or disallowed interest expense claimed by assessee. Confirmation has been annexed herewith along with summary thereof and marked as Annexure- l. Confirmations in respect of unsecured loans have been received from the assessee marked as Annexure

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

1,26,65,229/-(8194403+4470826)\ninstead of Rs.81,94,403/- declared by the assessee. Accordingly he has made\naddition of Rs.44,70,826/- in the A.Y. 2013-14. Same type of additions have also\nbeen made in the A.Y. 2014-15 to 2016-17 asper the above chart.\n6.2. Further