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

In the result, appeal of the assessee is allowed

153) (Hon'ble Calcutta High Court) 9.3. Provisions of section 14A are deeming provisions and mandatory in nature, Circular issued by the CBDT is binding on the Assessing Officer. The principle enumerated in the following judgement is squarely applicable to revision of assessment in connection with section 14A of the Act. In case of Vithal Nagar Co. Operative Housing Society

DCIT, CENTRAL CIRCLE-2, UDAIPUR vs. M/S. ASHAPURNA INFRAPROJECT PVT. LTD., , UDAIPUR

In the result, the appeal filed by Revenue is dismissed

Bench: Shri Pavan Kumar Gadale & Shri Dr. Dipak P. Ripote.

ii. Assessments and reassessments pending on the date of the search shall abate The total income for such AYS will have to be computed by the AOS as a fresh exercise. iii. The AO will exercise normal assessment powers in respect of the six years previous to the relevant AY in which the search takes place

DCIT, CENTRAL CIRCLE-2, UDAIPUR vs. M/S. ASHAPURNA INFRAPROJECT PVT. LTD., , UDAIPUR

In the result, the appeal filed by Revenue is dismissed

Bench: Shri Pavan Kumar Gadale & Shri Dr. Dipak P. Ripote.

ii. Assessments and reassessments pending on the date of the search shall abate The total income for such AYS will have to be computed by the AOS as a fresh exercise. iii. The AO will exercise normal assessment powers in respect of the six years previous to the relevant AY in which the search takes place

M/S. RASIK PRIYA RESORTS PVT. LTD. ,UDAIPUR vs. DCIT, CENTRAL CIRCLE-2, UDAIPUR

In the result, appeal of the assessee in ITA

Bench: Shri Pavan Kumar Gadale & Dr. Dipak P. Ripoteआयकर अपील सं. / Ita Nos.199 & 200/Jodh/2018 िनधा"रण वष" / Assessment Years : 2012-13 & 2013-14 M/S.Rasik Priya Resorts Pvt. The Deputy Commissioner Ltd., V Of Income Tax, 11, Mangal Complex, S. Central Circle-2, Udaipur. Saifan Choraha, Bedla Road, Udaipur. Pan: Aafcr 5546 N Appellant/ Assessee Respondent/ Revenue Assessee By Shri Rakesh Lodha – Ca Revenue By Smt. Alka Rajvanshi Jain – Cit(Dr) Date Of Hearing 10/08/2023 Date Of Pronouncement 30/10/2023

ii. The Assessing Officer is duty bound to investigate the credit-worthiness of the creditor/subscriber, verify the identity of the subscribers, and ascertain whether the transaction is genuine, or these are bogus entries of name- lenders. iii. If the enquiries and investigations reveal that the identity of the creditors to be dubious or doubtful, or lack credit-worthiness, then

M/S. RASIK PRIYA RESORTS PVT. LTD. ,UDAIPUR vs. DCIT, CENTRAL CIRCLE-2, UDAIPUR

In the result, appeal of the assessee in ITA

Bench: Shri Pavan Kumar Gadale & Dr. Dipak P. Ripoteआयकर अपील सं. / Ita Nos.199 & 200/Jodh/2018 िनधा"रण वष" / Assessment Years : 2012-13 & 2013-14 M/S.Rasik Priya Resorts Pvt. The Deputy Commissioner Ltd., V Of Income Tax, 11, Mangal Complex, S. Central Circle-2, Udaipur. Saifan Choraha, Bedla Road, Udaipur. Pan: Aafcr 5546 N Appellant/ Assessee Respondent/ Revenue Assessee By Shri Rakesh Lodha – Ca Revenue By Smt. Alka Rajvanshi Jain – Cit(Dr) Date Of Hearing 10/08/2023 Date Of Pronouncement 30/10/2023

ii. The Assessing Officer is duty bound to investigate the credit-worthiness of the creditor/subscriber, verify the identity of the subscribers, and ascertain whether the transaction is genuine, or these are bogus entries of name- lenders. iii. If the enquiries and investigations reveal that the identity of the creditors to be dubious or doubtful, or lack credit-worthiness, then

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

153, assessee or reassess such income and also any other income chargeable to tax which is escaped the assessment and which comes to notice, subsequently, in the course of assessment proceedings under this section or re-compute loss or the depreciation or any of allowances as the case may be, for the year concerned.’ The ld. CIT(A) has observed

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

153, assessee or reassess such income and also any other income chargeable to tax which is escaped the assessment and which comes to notice, subsequently, in the course of assessment proceedings under this section or re-compute loss or the depreciation or any of allowances as the case may be, for the year concerned.’ The ld. CIT(A) has observed

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

153, assessee or reassess such income and also any other income chargeable to tax which is escaped the assessment and which comes to notice, subsequently, in the course of assessment proceedings under this section or re-compute loss or the depreciation or any of allowances as the case may be, for the year concerned.’ The ld. CIT(A) has observed

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

153, assessee or reassess such income and also any other income chargeable to tax which is escaped the assessment and which comes to notice, subsequently, in the course of assessment proceedings under this section or re-compute loss or the depreciation or any of allowances as the case may be, for the year concerned.’ The ld. CIT(A) has observed

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

153, assessee or reassess such income and also any other income chargeable to tax which is escaped the assessment and which comes to notice, subsequently, in the course of assessment proceedings under this section or re-compute loss or the depreciation or any of allowances as the case may be, for the year concerned.’ The ld. CIT(A) has observed

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

153, assessee or reassess such income and also any other income chargeable to tax which is escaped the assessment and which comes to notice, subsequently, in the course of assessment proceedings under this section or re-compute loss or the depreciation or any of allowances as the case may be, for the year concerned.’ The ld. CIT(A) has observed

TARUN MURADIA,UDAIPUR vs. DCIT CENTRAL CIRCLE-1 UDAIPUR, UDAIPUR

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

Bench: DR. MITHA LAL MEENA (Accountant Member), DR. S. SEETHALAKSHMI (Judicial Member)

ii) CIT and Anr V/s Lancy Constructions (2017) 295 CTR (Kar) 454Assessment u/s 153A computation of undisclosed income - When there were no incriminating documents found during the course of search – If assessment is allowed to be reopened on the basis of search, in which no incriminating material had been found, and merely on the basis of further investigating the books

M/S. SIR PRATAP HERITAGE HOTELS PVT. LTD. ,MADHYA PRADESH vs. ACIT, CENTRAL CIRCLE-1, JODHPUR

The appeal stands allowed for statistical purposes

Bench: Hon’Ble Shri Sandeep Gosain, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am (Hearing Through Video Conferencing Mode) आयकरअपील सं./ I.T.A. Nos.488 To 494/Jodh/2017 ("नधा"रणवष" / Assessment Years: 2008-09 To 2014-15) Sir Pratap Heritage Hotels Pvt.Ltd. Acit– Central Circle-1 बनाम/ 1, Amarkantak Road Jodhpur Dhanpuri, Shahdol Rajasthan Vs. Madhya Pradesh-484 114. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aajcs-4923-L (अपीलाथ"/Appellant) (""यथ" / Respondent) :

153 r.w.s. 143(3) on 27/03/2016. While framing assessment, it was saddled with disallowance of certain expenses for Rs.8.44 Lacs. The assessment proceedings stem from search operations u/s 132 carried out by the department on Vinod Purohit group of cases on 16/04/2013 wherein several incriminating documents along with cash, jewelery and other valuables were stated to be found / seized from

M/S. SIR PRATAP HERITAGE HOTELS PVT. LTD. ,MADHYA PRADESH vs. ACIT, CENTRAL CIRCLE-1, JODHPUR

The appeal stands allowed for statistical purposes

Bench: Hon’Ble Shri Sandeep Gosain, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am (Hearing Through Video Conferencing Mode) आयकरअपील सं./ I.T.A. Nos.488 To 494/Jodh/2017 ("नधा"रणवष" / Assessment Years: 2008-09 To 2014-15) Sir Pratap Heritage Hotels Pvt.Ltd. Acit– Central Circle-1 बनाम/ 1, Amarkantak Road Jodhpur Dhanpuri, Shahdol Rajasthan Vs. Madhya Pradesh-484 114. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aajcs-4923-L (अपीलाथ"/Appellant) (""यथ" / Respondent) :

153 r.w.s. 143(3) on 27/03/2016. While framing assessment, it was saddled with disallowance of certain expenses for Rs.8.44 Lacs. The assessment proceedings stem from search operations u/s 132 carried out by the department on Vinod Purohit group of cases on 16/04/2013 wherein several incriminating documents along with cash, jewelery and other valuables were stated to be found / seized from

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

3. Aggrieved with the order of the AO, assessee filed appeal before the ld.\nCIT(A). During the course of appellate proceedings assessee has filed the detailed\nwritten submission which is available at Paper Book (A.Y. 2013-14) pages 268 to\n320 and also filed the additional common written submission available at Paper\n37\nITA Nos. 706 to 709/Jodh/2024\nAshiana

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

153/- from FDR with Punjab National Bank and DCBL and Interest on advances to parties. The net interest of Rs. 75,81,296/- charged to Profit and Loss as expenditure. In the course of assessment preceding the learned A.O. has accepted the claim of interest (Net) only after 6 ITA 171/Johd/2018 Nokha Agro Services Vs PCIT satisfaction that interest received

SAMPAT LAL LODHA ,NATHDWARA vs. ITO, WARD-2, RAJSAMAND

In the result, both appeals of the assessee are allowed

reassessment proceedings an invalid........” iv] On the identical facts the Hon’ble ITAT Agar Bench in the case of Shri. Raj Singh Vs ITO (ITAT Agra) ITA No. 408/Agra/2018 Date of Order : 22/03/2019 "29. The text of the reasons recorded do proves that virtually there has been no application of mind by the learned Assessing officer so as to form

SAMPAT LAL LODHA ,NATHDWARA vs. ITO, WARD-2, RAJSAMAND

In the result, both appeals of the assessee are allowed

reassessment proceedings an invalid........” iv] On the identical facts the Hon’ble ITAT Agar Bench in the case of Shri. Raj Singh Vs ITO (ITAT Agra) ITA No. 408/Agra/2018 Date of Order : 22/03/2019 "29. The text of the reasons recorded do proves that virtually there has been no application of mind by the learned Assessing officer so as to form