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ITAT Jaipur

Penalty cannot be imposed for delay in TDS return filing for non availability of PAN

Argus Golden Trades India Ltd. Vs. JCIT (ITAT Jaipur)

This is an appeal filed by the assessee against the order of Ld. CIT(A) - III, Jaipur dated 19.02.2016 for A.Y. 2011- 12 wherein the assessee has challenged the levy penalty of Rs. 1,02,400/- u/s 272A(2)(K) of the Act....

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Non-appearance of supplier cannot be the sole basis to terms purchase as bogus

M/s Beauty Tax Vs DCIT, ((ITAT Jaipur)

Non-appearance of the supplier in absence of any other corroborate evidence cannot be sole basis to justify the stand of the Revenue that a transaction of purchase is bogus...

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Sale of Land of HUF after Death of Karta is assessable in HUF’s hand

M/s Amarchand HUF Vs The ITO (ITAT Jaipur)

What has been sold was ancestral agricultural land which belongs to the HUF and it has been brought to tax in the hands of HUF after the death of Sh. Amarchand. There is no partition of HUF and there is no finding of any partition given by the Assessing Officer u/s 171 of the Act....

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Purchase cannot be termed bogus for mere non-appearance of supplier

M/s Beauty Tax Vs DCIT, ((ITAT Jaipur)

Merely non-appearance of the supplier in absence of any other corroborate evidence cannot be a basis to justify the stand of the Revenue that the transaction of purchase is bogus. ...

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Purchase cannot be held bogus for Mere Non-Appearance of Supplier

M/s Beauty Tax Vs DCIT (ITAT Jaipur)

Merely non-appearance of the supplier in absence of any other corroborate evidence cannot be a basis to justify the stand of the Revenue that the transaction of purchase is bogus....

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No LTC / Tax benefit on Foreign Tours provided to staff, TDS deductible

State Bank of India Vs ACIT (ITAT Jaipur)

The provisions of the Act are in relation to the travel concession/assistance given for proceeding on leave to any place in India and the said concession is thus exempt only where the employee has utilized the travel concession for travel within India. Further under Rule 2B of the Income Tax Rules the condition for allowing exemption unde...

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Investment in unrecorded stock taxable as ‘Business Income’

Bajargan Traders C/o Kalani & Co. Vs The ACIT (ITAT Jaipur)

ITAT held that amount surrendered by way of investment in the unrecorded stock of rice has to be brought to tax under the head business income. It Further held that Only real income can be taxed, hypothetical income cannot be taxed nor income can be taxed in vacuum....

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Mere surplus year after year cannot be deciding factor to deny exemption U/s. 11

ACIT (Exemption) Vs. ACIT (Exemption) (ITAT Jaipur)

Assessee society is generating surplus year after year is not the deciding factor to determine whether it is eligible for exemption under section 11 of the Act. And on this ground alone, the exemption claimed by the assessee society under section 11 can not be denied. What is relevant to examine is whether the surplus so generated is plou...

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Losses due to Fraud of employees allowable despite no FIR

M/s. Pawan Specialities (P) Ltd. Vs The ACIT (ITAT Jaipur)

It is an admitted position that theft/ fraud had indeed taken place in the assessee company and the AO had nowhere doubted the fact of fraud but he disallowed the claim of the assessee for the reason that the assessee could not establish the fact of fraud like non- production of copy of FIR and not taking any legal action against the empl...

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No section 40A(3) disallowance on cash refund of excess money received on sale of goods

Asstt. Commissioner of Income tax Vs Kishore Singh Gehlot (HUF) (ITAT Jaipur)

This is an appeal filed by the Revenue against the order of Ld. CIT(A)-II, Jaipur dated 3.12.2013 for A.Y 2009-10 wherein the Revenue has taken following grounds of appeal...

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