ASHOK PANWAR HUF,JODHPUR vs. ACIT, CENTRAL CIRCLE-3, JODHPUR

In the result, both the appeals of the assesses ITA No

Bench: Dr. Mitha Lal Meena, Hon'Ble & Shri Anikesh Banerjee, Hon'Ble

short term capital gain which does not exactly fall under the category of accommodation entries as it is taxable income. However assessee has claimed long term capital gain which is tax exempt and has been used as a tool to evade taxes and reroute unaccounted income in the books of account." The Ld.AR argued that none of the documents

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

In the result, appeal of the assessee is dismissed

section 282A, the AO has not authenticated the\nassessment order and notices issued u/s 143(2)/142(1) by printing or stamping his name\nand office. Therefore, the order passed, without authentication is null and void.\n6. Most of the order of CIT (A) is not legible and void.\nIt is, therefore, requested please to delete the addition and quash

ACIT, CIRCLE, BHILWARA vs. M/S. SURAJ FABRICS INDUSTRIES LTD. , KOLKATA

In the result appeal of the revenue is dismissed

Bench: Shri Pavan Kumar Gadale & Dr. Dipak P. Ripoteassessment Year: 2010-11 Assistant Commissioner M/S Suraj Fabrics Industries Of Income-Tax, Circle, Vs Ltd., 224A, Elegant Tower, Bhilwara A.J.C. Bose Road, Kolkata, West Bengal Pan: Aabcs8988B Appellant / Revenue Respondent / Assessee Revenue By Smt. Alka Rajvanshi Jain, Cit-Dr Assessee By None Date Of Hearing 11.08.2023 Date Of Pronouncement 11.08.2023 Order Per Dr. Dipak P. Ripote, Am: This Is An Appeal Filed By The Department Against The Order Of Ld. Commissioner Of Income Tax (Appeals), Ajmer Dated 06.09.2017 Deleting The Penalty Under Section 271(1)(C) Of The Act For A.Y. 2010-11. The Assessee Has Raised Following Grounds Of Appeal As Under:- “1. Cancelling The Penalty Levied For Addition Of Unexplained Cash Credit On A/C Of Share Capital Of 10,00,00,000/- Without Appreciating The Facts That The Quantum Addition Made By The Ao Was Confirmed By The Ld.Cit(A) As The Identity & M/S Suraj Fabrics Industries Ltd.

68 of the Act. The relevant paragraph of the Ld. CIT(A’s) order is as under:- “(i) The appellant has submitted that the addition of Rs. 10 crore has been deleted by the ITAT Jodhpur Bench vide its order dated 19.05.2017 (ITA No. 436/Jodh/2014, A.Y. 2010-11). The appellant has filed the copy of ITATS order dated

GULAB DEVI KHANT,BANSWARA vs. ACIT, , CHITTORGARH.

In the result, the appeal of the assessee is allowed for statistical

Bench: Shri N.K. Sainismt. Gulab Devi Khant, Vs The Acit, W/O Late Shri Natwar Lal Chittorgarh Khanat, Khantwara, Banswara (Raj.) (Appellant) (Respondent)

68,000/- which included the addition of unexplained new cash creditors of Rs. 15,90,000/- and short term capital gain of Rs. 64,918/-. The Assessing Officer also initiated penalty proceedings u/s 271 (1) (c) of the Act and levied the penalty of Rs. 5,47,700/-. 4. Being aggrieved, the matter was taken

THAR HEAT TRANSFER EQUIPMENT PVT. LTD. ,JODHPUR vs. PR. CIT-1, JODHPUR

Appeal of the assessee is allowed

Bench: Shri Sandeep Gosain & Shri Vikram Singh Yadavthar Heat Transfer Equipments Vs. Pr.Cit-1, Pvt. Ltd., Jodhpur. B-13 To 16, Industrial Area, Jodhpur. Pan No. Aacct 7832 L Assessee By Shri Amit Kothari, Ca & Shri Abhinav Kothari, Ca Revenue By Smt. Sanchita Kumar, Cit-Dr Date Of Hearing 09/08/2021 Date Of Pronouncement 06/09/2021 O R D E R Per: Sandeep Gosain, J.M. The Present Appeal Has Been Filed By The Assessee Against The Order Of The Ld. Pr.Cit-1, Jodhpur Dated 20/03/2020 For A.Y. 2015-16 Passed U/S 263 Of The Income Tax Act, 1961 (In Short, The Act) Wherein Following Grounds Have Been Raised: “1. The Ld. Pr. Cit Has Erred In Invoking Section 263 & The Setting Aside Of The Order Passed U/S 143(3), Is Bad In Law & Bad On Facts. The Order Made U/S 143(3) Cannot Be Said To Erroneous Or Prejudicial To Interest Of Revenue. 2. The Order Passed U/S 143(3), Was Made After Duly Examining The Issue Relating To Capital Gains & The Said Order Cannot Be Said To Be Erroneous Or Prejudicial To The Interest Or Revenue. The Allocation Of Value Of Sale Of Land Was On The Basis Of Valuation Adopted By The Stamp Authorities & Was Also Verifiable. The Ld. Pr. Cit Had Erred In Observing That The Appellant Had Taken The Higher Value Of Agriculture Land. 3. The Appellant Crave Liberty To Add, Amend, Alter, Or Modify Any Of The Ground Of Appeal On Or Before Its Hearing Before Your Honour.”

short, the Act) wherein following grounds have been raised: “1. The ld. Pr. CIT has erred in invoking section 263 and the setting aside of the order passed u/s 143(3), is bad in law and bad on facts. The order made u/s 143(3) cannot be said to erroneous or prejudicial to interest of revenue. 2. The order passed

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

section 145 are not found to\nbe relevant in the facts of this case. The AO has not disturbed the book results as the cash\ntransactions are not part of regular books of accounts.\nThe ld CIT(A) has also tried to distinguish the decisions relied upon. Thus on the\nbasis of above observations the ld. CIT(A) confirmed

M/S TARUN CONSTRUCTION COMPANY,WARD NO.24, NEAR BHAGAT SINGH CHOWK, SURATGARH vs. CPC, BANGALORE/ ITO, WARD-1, SRIGANGANAGAR , SRIGANGANAGAR

In the result, appeals are dismissed

Bench: Shri Saktijit Dey, Vice- & Dr. Brr Kumar

short reason as well. 10. In view of the detailed discussions above, we are of the considered view that the impugned adjustment in course of processing of return under section 143(1) is vitiated in law, and we delete the same. As we hold so, we make it clear that our observations remain confined to the peculiar facts before

M/S TARUN CONSTRUCTION COMPANY,WARD NO.24, NEAR BHAGAT SINGH CHOWK, SURATGARH vs. CPC, BANGALORE/ ITO, WARD-1, SRIGANGANAGAR, SRIGANGANAGAR

In the result, appeals are dismissed

Bench: Shri Saktijit Dey, Vice- & Dr. Brr Kumar

short reason as well. 10. In view of the detailed discussions above, we are of the considered view that the impugned adjustment in course of processing of return under section 143(1) is vitiated in law, and we delete the same. As we hold so, we make it clear that our observations remain confined to the peculiar facts before

BHOOP SINGH POONIA,NOHAR vs. ITO WARD, NOHAR, NOHAR

short question\nis whether this surrendered income is to be taxed u/s 115BBE\nor under the normal provision. It is pertinent to note that the\n assessment year involved herein is accounting year for\n assessment year 2014-15.\n15. On due consideration of the facts and circumstances, we\nfind that this issue, whether surrendered income during the\ncourse

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

gains of business or profession" The judicial pronouncements relied upon by the appellant also approve this view. Ld ITAT in its order for AY 2016-17 in the case of appellant has also computed income of the appellant without making separate addition on account of section 40(a)(ia) of the Act though the appellant had disallowed amount

ACIT, CENTRAL CIRCLE, BIKANER vs. SMT. ALPANA GUPTA, SRIGANGANAGAR

In the result, this appeal of the Revenue is dismissed

Bench: Shri Sandeep Gosain & Shri Manoj Kumar Aggarwala.C.I.T. Vs. Smt. Alpana Gupta, 4-A-15, Central Circle, Jawahar Nagar, Bikaner. Sriganganagar. Pan No. Aiepg 8893 R

68,250/-. Search and seizure proceedings were conducted at the residential and business premises of ‘Gupta group of Sri Ganganagar & Bikaner’ on 11.08.2016. Notices were issued and assessee filed her reply. The A.O. after making detailed enquiry and verification passed assessment order on 20/12/2018 assessing total income of the assessee at Rs. 3,39,63,530/- by making various disallowances