ITAT Jaipur

Section 12A: Cancellation of trust registration with retrospective effect is invalid

Wholesale Cloth Merchant Association Vs PCIT (ITAT Jaipur)

Wholesale Cloth Merchant Association Vs PCIT (ITAT Jaipur) We are of the opinion that in the present case the ld. Pr. CIT(C) has found or made allegation or objection of diversion or mis appropriations of funds and not filling the Audit report and ITR, if any only in A.Y. 2014-15 to 2016-17 & not in […]...

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Allowability of cash expenses supported by self made vouchers

Seward Exports Pvt Ltd. Vs ACIT (ITAT Pune)

Seward Exports Pvt Ltd. Vs ACIT (ITAT Jaipur) t there are inconsistencies in the findings of the ld. CIT(A), where at first place, he has held that the Assessing Officer has not able to bring any example of specific disallowable expenses in case of loading and unloading expenses and under the similar facts pattern where […]...

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Amount claimed as irrecoverable & written off allowable if same was offered to tax in previous assessment years

Sumeru Enterprises Vs ITO (ITAT Jaipur)

Sumeru Enterprises Vs ITO (ITAT Jaipur) It is the case of the assessee that it had cancelled the allotment of certain flats in its commercial complex as the allottees/debtors refused to pay the outstanding amount towards the interest, complex maintenance charges and electric installation charges and the same were reversed and written off ...

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No TDS on sales commission paid to non-residents for services rendered outside India

Modern Threads India Ltd. Vs ACIT (ITAT Jaipur)

The Hon’ble ITAT, Jaipur in Modern Threads India Limited v. ACIT (Income Tax Appeal Nos. 198/JP/2019 and 199/JP/2019 decided on February 15, 2021) has held that payment of sales commission by the assessee to non-resident agents for the services rendered outside India will not fall in the category of the income received or deemed to [&he...

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Section 271F penalty valid for not filing Return if Total Income before section 54 exemption exceeds maximum amount not chargeable to income-tax

Shankar Lal Kumawat Vs ITO (ITAT Jaipur)

Shankar Lal Kumawat Vs ITO (ITAT Jaipur) Section 139(1)(b) provides that every person, being a person other than a company or a firm, if his total income or the total income of any other person in respect of which he is assessable under this Act during the previous year exceeded the maximum amount which is […]...

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ITAT deletes addition as AO was not clear on taxability of transaction

Devender Kaur Vs ITO (ITAT Jaipur)

Devender Kaur Vs ITO (ITAT Jaipur) In the instant case also, the AO has failed to conduct any enquiry and bring any material or fact to establish that the assessee has initially acquired the property in question at the time of Power of Attorney dated 3.1.2008 and subsequently sold the same vide sale deed dated 23.09.2009 […]...

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Section 54F deduction eligible on house property purchased in wife name

Dharamvir Singh Vs I.T.O. (ITAT Jaipur)

We also hold that the assessee is eligible for deduction U/s 54F of the Act in respect of residential house property purchased in the name of his wife....

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Addition not valid when Cash Deposit is included in Turnover offered For Tax under Section 44AD

Virender Kumar Vs ITO (ITAT Jaipur)

Virender Kumar Vs ITO (ITAT Jaipur) It is noted that the assessee is in the diary business in the name and style of M/s Mohan Diary, Tijara and in pursuant to notice u/s 148, he has filed his return of income u/s 44AD declaring gross receipts from his diary business amounting to Rs 14,56,230/-. The […]...

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Only profit embedded in undisclosed turnover can be brought to tax

Alokik Steels Pvt. Ltd. Vs PCIT (ITAT Jaipur)

Alokik Steels Pvt. Ltd. Vs PCIT (ITAT Jaipur) The question that still looms large is where the assessee has disclosed gross profit of 3.11% on Rs.1,77,95,858/- and which has been accepted by the AO, how the order so passed by the AO is held as erroneous and prejudicial to the interest of Revenue by the […]...

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ITAT deletes addition for cash seized which was duly explained by Assessee

Om Prakash Karnani Vs. ACIT (ITAT Jaipur)

Om Prakash Karnani Vs. ACIT (ITAT Jaipur) Undisputedly, the cash amounting to Rs. 5,34,000/- seized from the possession of Sh. Nand Lal Joshi and Sh. Nand Lal Pandya belongs to the assessee. The limited question therefore is source of such cash found and seized from the possession of these two persons which belongs to the […]...

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