ITAT Jaipur

Registration cannot be denied to trust maintaining ‘Gaushalas’ merely for Sale of Milk

Rajasthan Gau Seva Sangh Vs CIT Exemptions (ITAT Jaipur)

Rajasthan Gau Seva Sangh Vs CIT (ITAT Jaipur) It is pertinent to note that when the assessee is maintaining various Gaushalas then production of milk is bound to happen and dealing in purchase and sale of milk & milk products as well as cattle feed is nothing but the activity in furtherance of the objects […]...

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Law Tax effect Circular- Income Tax Intelligence Wing is part of I-T Department

ITO Vs Shri Habib Khan (ITAT Jaipur)

ITO Vs Shri Habib Khan (ITAT Jaipur) The exception 10(e) of of Circular no. 03 of 2018 dated 20-08.2018 which has been referred by the ld DR relates to cases where addition is based on information received from external sources in the nature of law enforcement agencies such as CBI/ ED/ DRI/ SFIO/ Directorate General […]...

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No Section 271AAB penalty In absence of mechanism to report investment in tax return

Gauri Shankar Kandoi Vs DCIT (ITAT Jaipur)

Where assessee was not required to maintain any books of account and there was no mechanism to report the investment in the tax return, the said investment could not be held as undisclosed investment and more so, undisclosed income so defined in section 271AAB, therefore, investment so found in purchase of Villa could not be termed as und...

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No deduction for education expenses incurred prior to set up of business

Shri Harshvardhan Johari Vs DCIT (ITAT Jaipur)

Assessee-sole proprietor was not eligible for a tax deduction for his own education expenses as the same could not be treated as business expenses and the point in time when the expenditure was incurred, the business of the assessee was not set up. ...

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Interest part of Cost of Property & eligible for indexation & deduction

Parwati Devi Totlani Vs ITO (ITAT Jaipur)

Interest paid  on the borrowing made for acquiring Capital Asset (House Property)  is part of the cost of acquisition and therefore eligible for indexation and deduction from the Sale Consideration  for computation of capital gains. ...

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Limited scrutiny cannot be converted into complete scrutiny without seeking permission from competent authority

Shri Sita Ram Swami Vs ITO (ITAT Jaipur)

Addition made u/s 69 was liable to be quashed as the order passed by AO would be nullity as he couldn’t convert limited scrutiny into complete scrutiny in absence of requisite approval from the competent authority....

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Interest on FDR of co-op society with co-op bank eligible for Section 80P(2)(d) deduction

Jaipur Zila Dugdh Utpadak Sahakari Sangh Ltd. Vs DCIT (ITAT Jaipur)

Interest income derived by assessee, co-operative society from its investments held with a co-operative bank, was entitled for claim of deduction under section 80P(2)(d) as for the purposes of section 80P(2)(d) of the Act, Cooperative Bank Ltd shall be treated as a co-operative society....

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LTC: TDS deductible on reimbursement to staff for foreign travel leg

State Bank of Bikaner and Jaipur (Now SBI) Vs ITO (TDS) (ITAT Jaipur)

ITAT held that order of the ld CIT(A) is hereby affirmed where he has held the assessee bank to be assessee in default for short-deduction of TDS on LFC/LTC claim relating to foreign leg of the travel of its employees being not eligible for exemption under section 10(5) r/w Rule 2B....

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Validity of Approval for Reopening by CIT for wrong application of Law by AO

ITO Vs Krish Homes Private Limited (ITAT Jaipur)

The question that arises for consideration is where there is no new material brought on record by the Assessing subsequent to completion of original proceedings u/s 143(3) and where the matter was duly examined during the original assessment proceedings, whether the Assessing officer can still acquire jurisdiction by exercising powers u/s...

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Section 195(1) & 40(a)(ia) talks about tax deduction where sum is chargeable to tax

JLC Electromet Pvt. Ltd. Vs ACIT (ITAT Jaipur)

Coming to the provisions of section 40(a)(ia) of the Act, the said section also provides that any interest, royalty, fees for technical services or other sum chargeable under this Act on which tax is deductible at source under chapter XVII-B and such tax has not been deducted or after deduction has not been paid on or before the due date ...

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