Jai Enterprises Vs DCIT (ITAT Jaipur) In the instant case, admittedly and undisputedly, the employees’ contribution to ESI and PF collected by the assessee from its employees have been deposited well before the due date of filing of return of income u/s 139(1) of the Act. Further, the ld D/R has referred to the explanation […]
Since in the present case, the sanction was accorded by the ld. CIT in a purely mechanical manner without application of judicious mind, therefore, the sanction so accorded cannot be held to be a proper and valid sanction within the meaning of Section 151 of the Act
Sunil Mathur Vs ITO (ITAT Jaipur) The issue under consideration relates to source of cash deposits during the year in the two bank accounts maintained by the assessee amounting to Rs 13.5 lacs. In this regard, firstly, it is noted that during the year under consideration, the assessee has sold a property and consideration thereof […]
Rakesh Garg Vs ITO (ITAT Jaipur) As per the details of the three properties in which the assessee has claimed to have invested sale consideration of the land in question, only one property i.e. at sl. no. 1 of the list reproduced in para ‘6’ above is a constructed house and two others are only […]
Shujaat Ali Khan Vs ITO (ITAT Jaipur) Facts- Case of the assessee was reopened u/s 147 and notice u/s 148 was issued. The assessment U/s 143(3) r.w.s 147 was completed after making addition of Rs. 7,71,826/- being alleged undisclosed short-term capital gain on alleged sale of immovable property after invoking Section 50C of the Act. […]
Shri Sanjay Agarwal Vs ITO (ITAT Jaipur) In this case, the AO has rejected the books of accounts and has estimated G.P. rate of 0.69% on declared turnover as against G.P rate of 0.38% declared by the assessee and made a trading addition of Rs. 49,56,217/- in the hands of the assessee. The AO has […]
Shashi Rajawat Vs ITO (ITAT Jaipur) In the instant case, admittedly and undisputedly, the employees’ contribution to ESI and PF collected by the assessee from its employees have been deposited well before the due date of filing of return of income u/s 139(1) of the Act. Further, it is noted that the ld CIT(A) has […]
Penalty under section 271D could not be levied on wife for receiving money from her husband for purchase of family property as practice of registering the property in name of the wife was guided by various family and societal factors besides encouragement of the Government for such transactions entered into by female members in the family by way of reduced stamp duty and she had offered reasonable explanation justifying the cash transactions
If the party who is seeking condonation of delay has not acted in malafide manner and reasons explained are factually correct then the Court should be liberal in construing the sufficient cause and lean in favour of such party.
Spytech Buildcon Vs ACIT (ITAT Jaipur) As per sub-section (3) and (4) of section 43CA, the benefit of prior agreement is granted if the consideration is received at the time of agreement other than cash. In the case in hand, the booking is claimed to have been made prior to 01/04/2013 whereas the sale deeds […]
