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3 results for “capital gains”+ Survey u/s 133Aclear

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Key Topics

Section 143(3)3Section 683Section 133A3Addition to Income3Section 143(2)2Survey u/s 133A2

SHRI SHRI SHIV SHANKAR AGRAWAL,KORBA(CG) vs. THE INCOME TAX OFFICER-1, KORBA(CG)

In the result appeal of the assessee is partly allowed for statistical purposes, in terms of our observations herein above

ITA 270/BIL/2016[2008-09]Status: DisposedITAT Raipur24 Nov 2023AY 2008-09

Bench: Shri Ravish Sood, Jm & Shri Arun Khodpia, Am (Ita No. 270/Rpr/2016) (Assessment Year: 2008-09)

For Appellant: Shri Veekaas S Sharma, CAFor Respondent: Shri Satya Prakash Sharma, Sr. DR
Section 133ASection 143(3)

133A of I.T. Act, which was conducted by the department on 03.03.2008 and in final statements of the assessee were recorded during the survey. The assessee has offered the excess cash of Rs. 2,24,243/- and excess stock of Rs. 6,27,335/-, as both had been found out of books of accounts. It was accepted by the assessee

FIVE STARCONSTRUCTION COMPANY,BHILAI vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE- 1(1), BHILAI

The appeal of the assessee is partly allowed in terms of our aforesaid observations

ITA 45/RPR/2018[2014-15]Status: DisposedITAT Raipur29 May 2023AY 2014-15

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No.45/Rpr/2018 "नधा"रण वष" / Assessment Year : 2014-15 Five Star Construction Company Plot No.96-97, Light Industrial Area, Chawani Chowk, Bhilai (C.G)-490026 Pan : Aaaff4316L .......अपीलाथ" / Appellant बनाम / V/S. The Deputy Commissioner Of Income Tax-1(1), Bhilai (C.G.) ……""यथ" / Respondent

For Appellant: Shri R.B Doshi, CAFor Respondent: Shri Piyush Tripathi, Sr. DR
Section 133ASection 143(2)Section 144Section 40A(3)Section 68Section 69C

133A of the Act were conducted at the business premises of the assessee firm on 11.03.2016. During the course of the survey proceedings several serious deficiencies had surfaced in the records of the assessee. It was found by the survey team that the assessee firm for recording on day-to-day basis its actual business transactions

VISHAL BUILDERS, RAIPUR,RAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-3(1), RAIPUR, RAIPUR

ITA 263/RPR/2023[2013-14]Status: DisposedITAT Raipur30 Nov 2023AY 2013-14

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No.263/Rpr/2023 "नधा"रण वष" / Assessment Year : 2013-14 Vishal Builders 7/619, Gawri Bhawan, Fafadih Naka, Raipur-492001(C.G.) Pan : Aaefv1401G .......अपीलाथ" / Appellant बनाम / V/S. The Assistant Commissioner Of Income Tax, Circle 3(1), Raipur, C.G.

For Appellant: Shri R.B Doshi, CAFor Respondent: Shri Satya Prakash Sharma, Sr. DR
Section 143(2)Section 143(3)Section 145(3)

133A in FY 14-15 relevant to AY 15-16 and stock difference was found. During survey stock difference of Rs 3,04,15,5081- was surrendered as additional income in the form of undisclosed profit. Since assessee could not produce all vouchers and muster roll books were rejected. It is well known fact that suppression of income is prevalent