ITAT Jaipur addresses tax rate dispute in Sadhwani Wood Products Pvt Ltd case, involving unaccounted cash sales and Section 115BBE of Income Tax Act.
Analysis of Saket Agarwal Vs ITO case (ITAT Jaipur), focusing on the Rs. 3.17 Cr addition of unproved creditors and assessment under Section 41(1).
ITAT Jaipur held that mere entering into the Development Agreement would not permit invocation of section 45(2) of the Income Tax Act. There is no positive act which indicates that the assessee has treated capital asset as stock-in-trade.
Tribunal upheld 20% addition instead of 25% on alleged bogus purchases due to unverified sellers agreeing that assessee failed to prove the genuineness of the transactions, and confirmed penalty proceedings.
The ITAT Jaipur ruled in ACIT vs Naresh Jain, addressing Section 115BBE, unexplained income, and the benefit of telescoping in tax assessments.
ITAT Jaipur upholds the deletion of ₹1.71 crore in excessive and bogus expenses in the case of ACIT vs Nisha Jain for AY 2013-14. The tribunal dismisses Revenue’s appeal citing lack of merit.
Explore the ITAT Jaipur ruling in ACIT vs. Naresh Jain, addressing key legal points, survey statements, and additions involving incriminating documents and unaccounted transactions in the 2017-18 assessment year.
Summary of the ITAT Jaipur decision in Singhal Builders Vs ACIT for A.Y. 2017-18, discussing income additions, depreciation claims, and treatment of interest on income tax refund.
ITAT Jaipur upheld the deletion of Rs. 72 lakh addition, ruling that the assessee sufficiently explained the source of cash deposits made during demonetization.
ITAT Jaipur held that in case the books of accounts are rejected by applying provisions of section 145(3) of the Income Tax Act then assessment must be completed under section 144 of the Income Tax Act which is not done by AO in the present case.
