ITAT Jodhpur

Deemed rental of SOP should be determined as per municipal ratable value

Smt. Rekha Singh Vs ITO (ITAT Jodhpur)

The house which is not having any actual rental income but self occupied by assessee should be determined as per the municipal ratable value. Accordingly, the matter is restored to file of the Assessing Officer to find out the municipal ratable value of the house for computing income u/s 22 of the I.T. Act. We direct accordingly....

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JCIT cannot give Approval U/s. 153D in a mechanical way

Indra Bansal & Ors. Vs ACIT (ITAT Jodhpur)

Joint Commissioner has failed to grant approval in terms of section 153D of the Act i.e., after application of mind but has rather carried out exercise in utmost haste and in a mechanical manner and, therefore, the approval so granted by him is not an approval which can be sustained. ...

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Interest on housing loan used for advancing loans can be claimed against Interest Income

Smt. Anuradha Agarwal Vs Income Tax Officer (ITAT Jodhpur)

These are the appeals filed by the different assessees against the separate orders of the ld. CIT(A) Ajmer dated 05/10/2017 for the A.Y. 2013-14 in the matter of order u/s 143(3) of the Income-tax Act, 1961 [hereinafter referred to as ‘the Act’, for short...

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Expense on telephone installed at house of Director cannot be disallowed for personal use

ACIT Vs Metallizing Equipment Co. (P) Ltd. (ITAT Jodhpur)

ACIT Vs Metallizing Equipment Co. (P) Ltd. (ITAT Jodhpur) In Hero Cycles Ltd. v. Asstt. CIT (1999) 63 TTJ (Chd) 665. Tribunal, Chandigarh, has held that the expenditure on telephone installed at the residences of directors is not covered by section 38(2) and expenses in case of a company cannot be for non-business purposes and the [&hell...

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Addition deleted as money deposited in the bank account was received from son

ITO Vs. Hukum Singh Rao (ITAT Jodhpur)

It was explained by the appellant that the money deposited in the bank account represented cash received from elder son, who was tax payer and the withdrawals in the bank account had a a chronologically progressive linkage of events....

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Allowability of deduction U/s. 80P(2)(a)(i) to Co-operative society engaged in providing credit facilities to members

Jodhpur Sahakari Bhoomi Vikas Bank Ltd. Vs ITO (ITAT Jodhpur)

These appeals preferred by the assessee emanates from the order of learned Commissioner (Appeals)-2, Jodhpur for assessment year 2008-09 vide order dated 19-11-2015; assessment year 2010-11 vide order dated 20-11-2015...

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Subsequent use of property not material for section 54F exemption

ITO Vs. Smt. Saida Mohammad (ITAT Jodhpur)

This appeal filed by the Revenue is directed against the order of the ld. CIT(A), Bikaner dated 20.05.2016 pertaining to A.Y. 2012-13....

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No disalllowance U/s. 40A(3) for cash Payment of electricity bills of JVVNL

Sumit Industries Vs. ITO (ITAT Jodhpur)

Payment of electricity bills to JVVNL is held to be the payment made to the government for the purpose of section 40A(3) of the Income-tax Act and therefore said section 40A(3) cannot be invoked and no addition is called for and additions so made and confirmed by the ld. CIT(A) is directed to be deleted....

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Assessee can claim housing loan interest in capital gain computation u/s 48 despite the fact that same had been claimed u/s 24(b)

Gayatri Maheshwari Vs I.T.O. (ITAT Jodhpur)

6. The ld. CIT(A) on consideration of the assessment order, assessee’s submissions and the case laws relied upon by the assessee, has held as under: The only dispute in the instant case is whether the interest paid by the assessee to the bank on loan availed for purchase of property could be allowed as deduction in computing the capital...

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S. 69 ITO have discretion in treating source of investment as income

Dushyant Ji Lohani Vs I.T.O. (ITAT Jodhpur)

A discretion has been conferred on the ITO U/s 69 of the Act to treat the source of investment as income of the assessee if the explanation offered by the assessee is not found satisfactory. However, the said discretion should be exercised keeping in view the facts and circumstances of a particular case. when it is claimed that the assess...

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