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

In the result, appeal of the assessee is dismissed

bogus LTCG against cash\nand the buyers are ensured delivery of cash against such pre-determined purchase\nof shares. The buyer and seller parties are well planned in the transaction as only in\nsuch scenario, the case is assured to the buyer and sale proceeds of shares are\nassured in the bank account linked with the demat account of seller

CHANCHAL KUMARI JAIN ,BHILWARA vs. ITO, WARD-3, BHILWARA

The appeal stands partly allowed

Bench: Hon’Ble Shri Sandeep Gosain, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am (Hearing Through Video Conferencing Mode) आयकरअपील सं./ I.T.A. No.213/Jodh/2019 ("नधा"रणवष" / Assessment Year: 2014-15) Smt. Chanchal Kumari Jain Income Tax Officer बनाम/ 143-A/A, Shastri Nagar Ward-3, Bhilwara Vs. Bhilwara, Rajasthan-311 001. Rajasthan-311 001. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Adnpj-8347-F (अपीलाथ"/Appellant) (""यथ" / Respondent) :

reassessment proceedings were triggered pursuant to receipt of certain information that the assessee procured bogus short-term capital gain (STCG). Accordingly, notice u/s 148 was issued on 26/09/2016. 3.2 The assessee reflected STCG of Rs.1.90 Lacs which arose from sale of 25000 shares of an entity namely M/s Anukaran Commercial Enterprises Ltd. (ACEL). The same were sold for Rs.5.40 Lacs

SARDA DEVI CHECHANI,UDAIPUR vs. ITO TDS, UDAIPUR

In the result, the appeals of the assessee are allowed for statistical purposes

reassessment proceedings in their cases to collect the taxes due from them, it results in permanent loss of revenue to the Government. The Form 27C obtained by the appellant from the buyer in April 2018 in respect of sales made during F.Y 2010-11 is therefore required to be disregarded, even if the same is admitted as additional evidence

SARDA DEVI CHECHANI,UDAIPUR vs. ITO TDS , UDAIPU

In the result, the appeals of the assessee are allowed for statistical purposes

reassessment proceedings in their cases to collect the taxes due from them, it results in permanent loss of revenue to the Government. The Form 27C obtained by the appellant from the buyer in April 2018 in respect of sales made during F.Y 2010-11 is therefore required to be disregarded, even if the same is admitted as additional evidence

SARDA DEVI CHECHANI,UDAIPUR vs. ITO TDS, UDAIPUR

In the result, the appeals of the assessee are allowed for statistical purposes

reassessment proceedings in their cases to collect the taxes due from them, it results in permanent loss of revenue to the Government. The Form 27C obtained by the appellant from the buyer in April 2018 in respect of sales made during F.Y 2010-11 is therefore required to be disregarded, even if the same is admitted as additional evidence

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

purchases is to\nbe added not substantial part of transaction—When in subsequent assessment year in AY 2011-\n12, AO himself made addition only @ 10% of net profit in assessment order passed under section\n143(3); book profit shown by assessee @ 11.45% for year under consideration was reasonable\nand justified-Therefore, assessee also succeeded on merit-Assssee's appeal allowed

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

reassess taking into consideration the other material in respect of completed assessments/unabated assessments. Meaning thereby, in respect of completed/unabated assessments, no addition can be made by the AO in absence of any incriminating material found during the course of search under Section 132 or requisition under Section 132A of the Act, 1961. However, the completed/unabated assessments can be re-opened

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

In the result the appeal of the assessee in ITA No

reassess taking into consideration the other material in respect of completed assessments/unabated assessments. Meaning thereby, in respect of completed/unabated assessments, no addition can be made by the AO in absence of any incriminating material found during the course of search under Section 132 or requisition under Section 132A of the Act, 1961. However, the completed/unabated assessments can be re-opened

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

In the result the appeal of the assessee in ITA No

reassess taking into consideration the other material in respect of completed assessments/unabated assessments. Meaning thereby, in respect of completed/unabated assessments, no addition can be made by the AO in absence of any incriminating material found during the course of search under Section 132 or requisition under Section 132A of the Act, 1961. However, the completed/unabated assessments can be re-opened

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

In the result the appeal of the assessee in ITA No

reassess taking into consideration the other material in respect of completed assessments/unabated assessments. Meaning thereby, in respect of completed/unabated assessments, no addition can be made by the AO in absence of any incriminating material found during the course of search under Section 132 or requisition under Section 132A of the Act, 1961. However, the completed/unabated assessments can be re-opened

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

reassess taking into consideration the other material in respect of completed assessments/unabated assessments. Meaning thereby, in respect of completed/unabated assessments, no addition can be made by the AO in absence of any incriminating material found during the course of search under Section 132 or requisition under Section 132A of the Act, 1961. However, the completed/unabated assessments can be re-opened

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

reassess taking into consideration the other material in respect of completed assessments/unabated assessments. Meaning thereby, in respect of completed/unabated assessments, no addition can be made by the AO in absence of any incriminating material found during the course of search under Section 132 or requisition under Section 132A of the Act, 1961. However, the completed/unabated assessments can be re-opened

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

In the result the appeal of the assessee in ITA No

reassess taking into consideration the other material in respect of completed assessments/unabated assessments. Meaning thereby, in respect of completed/unabated assessments, no addition can be made by the AO in absence of any incriminating material found during the course of search under Section 132 or requisition under Section 132A of the Act, 1961. However, the completed/unabated assessments can be re-opened

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

In the result the appeal of the assessee in ITA No

reassess taking into consideration the other material in respect of completed assessments/unabated assessments. Meaning thereby, in respect of completed/unabated assessments, no addition can be made by the AO in absence of any incriminating material found during the course of search under Section 132 or requisition under Section 132A of the Act, 1961. However, the completed/unabated assessments can be re-opened

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

In the result the appeal of the assessee in ITA No

reassess taking into consideration the other material in respect of completed assessments/unabated assessments. Meaning thereby, in respect of completed/unabated assessments, no addition can be made by the AO in absence of any incriminating material found during the course of search under Section 132 or requisition under Section 132A of the Act, 1961. However, the completed/unabated assessments can be re-opened