ITAT Jaipur

Differential Sales Tax paid for non-deposit of forms is allowable as deduction

Gem Electro Mechanicals Pvt. Ltd. Vs ACIT (ITAT Jaipur)

Gem Electro Mechanicals Pvt. Ltd. Vs ACIT (ITAT Jaipur) Since there was delay in depositing the aforesaid amount of sales tax, therefore, the assessee was made to deposit interest amounting to Rs. 2,71,826/- on such delayed payment of sales tax amount and Rs. 3,152/-on delayed payment of Excise/Custom Duty & Service Tax. The AO during...

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Income already disclosed under PMGKY, 2016 cannot be treated as Unexplained Income u/s 68

Shri Nawal Kishore Soni Vs. ACIT (ITAT Jaipur)

The issue under consideration is whether the CIT(A) was right in deleting the addition made by the AO on account of unexplained investment in purchase of gold?...

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Conversion from Limited to Complete Scrutiny Not Allowed Prior to Receipt of Approval from PCIT

Manju Kaushik Vs DCIT (ITAT Jaipur)

The issue under consideration is whether the conversion of case from limited scrutiny to complete scrutiny prior to receipt of approval from Pr. CIT is justified in law?...

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AO cannot treat Share Premium as Bogus without proper investigation

ITO Vs. Aravali Prime Consultants Pvt. Ltd. (ITAT Jaipur)

ITO Vs. Aravali Prime Consultants Pvt. Ltd. (ITAT Jaipur) In this case, it is noted that the AO during the course of assessment proceeding made the addition of Rs. 2,63,15,000/- (138500 shares x Rs. 190 per share) on account of share premium received on issue of shares by the assessee company. Thus the AO observed […]...

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Amount taxed in the head of related entities, cannot be taxed in the hand of Appellant

DCIT Vs Shri Jugal Kishore Garg (Derewala) (ITAT Jaipur)

DCIT Vs Jugal Kishore Garg (Derewala) (ITAT Jaipur) The ld. CIT(A) observed that it is evident that the surplus being referred to by the Ld. AO is not profit from the projects but the receipts of ‘on money’ credited to the capital accounts of the partners which has been considered in the additional income offered […]...

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Invocation of Section 263 to initiate Penalty proceeding not sustainable when addition itself deleted by ITAT

Agencies Rajasthan Pvt. Ltd. Vs PCIT (ITAT Jaipur)

Agencies Rajasthan Pvt. Ltd. Vs PCIT (ITAT Jaipur) Invocation of Section 263 of Income Tax Act, 1961 to initiate Penalty proceeding not sustainable when addition itself deleted by ITAT Brief facts of the case are that assessment u/s 143(3) of the Act was completed on 30-12-2017 by the AO and thus the AO made the […]...

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No Rejection of Claim u/s 10(23C) if CIT(E) failed to establish that Assessee Existed for Purposes of Profit

Seth Ramjidas Modi Vidhya Niketan Society Vs CIT (Exemptions) (ITAT Jaipur)

The issue under consideration is whether CIT(exemption) is correct in rejecting the claim of the assessee u/s 10(23C) who is mainly engaged in education facilities?...

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Rate of Interest is Irrelevant for disallowing interest U/s. 57(iii)

Shri Mahendra Singh Meel Vs. ITO (ITAT Jaipur)

The issue under consideration is whether the interest expense can be disallowed u/s 57(iii) on the ground that rate of interest paid was higher that rate of interest received in own case?...

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For Section 12AA registration assessee not required to furnish original MOA

Arya Samaj Mandir Vs CIT (Exemption ) (ITAT Jaipur)

Arya Samaj Mandir Vs CIT (Exemption ) (ITAT Jaipur) From the facts of the present case, we noticed that the assessee had filed an application before the ld. CIT (Exemption) for seeking registration u/s 12AA of the Act. The assessee had also furnished the copy of MOA notorized by the Notary Officer, Bhilwara. However, the […]...

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Furnishing of Original copy of documents not mandatory for Section 12AA Registration from 19.02.2018

Shrimad Dayanand Shiksha Samiti Bhilwada Vs CIT (ITAT Jaipur)

Shrimad Dayanand Shiksha Samiti Bhilwada Vs CIT (ITAT Jaipur) From the facts of the present case, we noticed that the assessee had filed an application before the ld. CIT (Exemption) for seeking registration u/s 12AA of the Act. The assessee had also furnished the copy of MOA notorized by the Notary Officer, Bhilwara. However, the [&helli...

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