ITAT Jaipur

CIT(A) has no power to travel beyond subject-matter of assessment

Sh Jagdish Narayan. Sharma Vs ITO (ITAT Jaipur)

Jagdish Narayan Sharma Vs. ITO (ITAT Jaipur) A perusal of sections 246 to 251 of the Act makes it clear that any questions arising out of the assessment orders in an appeal by the assessee can be possible and wide powers are given to the appellate authority, but these powers are circumscribed by the assessment […]...

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No Penalty for non compliance of section 148 notice

Shri Chouth Mal Sharma Vs. ITO (ITAT Jaipur)

The appellant contented that penalty under section 271(1)(b) can be imposed by the AO if he is satisfied that any person failed to comply with the notice under section 142(1) or under section 143(2) or directions issued under section 142(2A) of the Act. Therefore, no penalty can be levied under section 271(1)(b) for non compliance of noti...

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Deduction U/s. 80P(2)(d) eligible to Co-operative society on Interest from co-operative banks despite not providing credit facilities to members

ITO Vs Shree Keshorai Patan Sahakari Sugar Mill (ITAT Jaipur)

There is no condition for co-operative society to be engaged in the activity of providing credits to the members or banking business for availing of the deduction under section 80P(2)(d)....

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Deduction U/s. 54F cannot be denied for construction of house on land owned by mother

M/s. Chawala Sweets Vs ACIT (ITAT Jaipur)

Merely because the new house is constructed on a plot of land owned by the mother of the assessee will not disentitle the assesee for claim of deduction u/s 54F of the Income Tax Act....

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Dealer need not deduct TDS on Commission directly paid by Mobile Operator to Retailers

Shri Virendra Kumar Jain Vs The Income Tax Officer (ITAT Jaipur)

The assessee is an Individual and engaged in the business of trading in mobile and accessories including SIM card, pre-paid card etc. During the course of assessment proceedings, the AO noted that the assessee has shown the payment of commission of Rs. 16,41,989/- under section 40(a)(ia) of the Act without deduction of TDS...

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No disallowance for cash payments if transaction is genuine & identity of payee is known

M/s A Daga Royal Arts Vs ITO (ITAT Jaipur)

In the facts and circumstances of the case and in law, the ld. CIT(A) has grossly erred in confirming the action of ld. AO in disallowing the claim o f expenditure of Rs. 1,71,67,000/- by applying section 40A(3) of Income Tax Act, 1961. The action of the ld. CIT(A) is illegal, unjustified, arbitrary and against the facts of the case. Reli...

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Retraction of statement after inordinate delay looses its significance

Bannalal Jat Construction Pvt. Ltd. Vs ACIT (ITAT Jaipur)

Retraction of statement after inordinate delay without proving that same was obtained forcefully/by coercion/undue influence is clearly an after-thought and looses its significance. ...

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Penalty cannot be levied for non-audit of books of Account if penalty already been levied for non-maintenance of books

Roshni Devi Vs Income Tax Officer (ITAT Jaipur)

These are the three appeals filed by the assessee against the respective orders of the ld. CIT(A)-I, Jaipur dated 05/09/2017 for the A.Y. 2011-12 wherein the assessee has challenged the action of the Assessing Officer in levying the penalty U/s 271(1)(c), ...

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Provisions of Deemed Dividend not applicable to Capital Subsidy/Grant

Shri Vinod Kumar Mittal Vs ITO (ITAT Jaipur)

झrovision of S. 2(22)(e) along with its Explanations – 2 as stood at the relevant point of time, shall only mean that the expression accumulated profits shall only include all the profits of the company up to the date of distribution which are normal revenue profits...

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Assessee cannot adopt valuation of DVO after adopting stamp value

Narendra Singh Vs. Asst CIT & Vice-Versa (ITAT Jaipur)

When assessee himself had adopted value of land as per Stamp Duty Authority for computation of long-term capital gain, then he could not claim adoption of the value of land as estimated by DVO, as he filed return of income and paid taxes, also there was no scope of reduction....

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