Rajasthan High Court

PIL challenging vires of AAR & AAAR under GST filed before Rajasthan High Court

PIL filed before Rajasthan High court challenging GST Act provision of constitution of Authority for Advance Ruling and Appellate Authority for Advance Ruling admitted...

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No Exemption U/s. 10(37) if no agricultural activity during last two years prior to date of acquisition of agricultural land

Ajesh Kumar Agrawal Vs. CIT (Rajasthan High Court)

Ajesh Kumar Agrawal Vs. CIT (Rajasthan High Court) What is to be considered is that for being granted benefit under sub-section (37) of section 10 of the Act, the land in question should have been put to agricultural use by the assessee for the preceding two years. Even if we accept the contention of the […]...

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Second notice U/S. 148 during pendency of appeal against first notice is invalid

Pushpa Rajawat Vs CIT (Rajasthan High Court)

Pushpa Rajawat Vs CIT (Rajasthan High Court) Since, the original proceedings were pending before the Commissioner (Appeals), without entering into the question of jurisdiction of the Sawaimadhopur assessing officer, the fact remains that the adjudicating authority could not have issued second show cause notice under section 148. In that v...

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Sec 54B exemption cannot be denied for Investment made in Spouse name

Shri Laxmi Narayan Vs Commissioner of Income Tax (Rajasthan High Court)

On the ground of investment made by the assessee in the name of his wife, in view of the decision of Delhi High Court in Sunbeam Auto Ltd. and other judgments of different High Courts,the word used is assessee has to invest it is not specified that it is to be in the name of assessee....

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Exemption U/s. 54B for investment / document Registration in spouse name allowable

Mahadev Balai Vs. ITO (Rajasthan High Court)

In all these appeals common question of law and facts are involved hence they are decided by this common judgment....

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Section 50C not applicable on sale of rights in property through POA without stamp valuation

CIT Vs. Satya Dev Sharma (Rajasthan High Court)

Assessee entered into a purchase agreement for purchase of a land and later transferred all the rights acquired under the power of attorney for certain consideration, AO applied section 50C and enhanced short-term capital gains of assessee which was not justified since section 50C was not applicable in this scenario as there was no stamp ...

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Depreciation Rate applicable to wind mill would apply to civil foundation and electric turbine generator for wind mill

CIT Vs. Mehru Electricals & Mechanical Engineers (P) Ltd. (Rajasthan High Court)

As civil work and electric generator are taken to be a part of windmill, rate as is applicable for the depreciation for windmill would apply to the civil foundation and electric turbine generator also....

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Bad debts W/o cannot be disallowed for non-filing of suit to recover Bad debts

Pr. CIT Vs. Rajasthan State Beverages Corpn. Ltd. (Rajasthan High Court)

Admittedly, the amounts were lying outstanding for the last couple of years and the assessee has rightly written off the said amount in the books of account and merely because a suit was not filed and that cannot be considered to be a cogent reason to disallow the claim which became bad. One need not incur good money for recovery of the s...

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Unrecorded stock of rice noticed during survey is Business Income

Pr. CIT Vs Bajargan Traders C/o. Kalani & Co. (Rajasthan High Court)

(i) Whether the Tribunal was legally justified in reversing the findings of the Commissioner (Appeals) and deleting the addition of Rs. 70,04,814 which was surrendered by the assessee by holding that such amount was included in the purchases and was reflected in the sales and closing stock...

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Interest on funds borrowed to purchase land forming part of inventory is allowable deduction U/s. 36(1)(iii)

CIT Vs. Aditya Propcon (P) Ltd. (Rajasthan High Court)

As purchase of inventory is continuation of same business activity, the, proviso to section 36(1)(iii)(d) did not get attracted in case assessee having borrowed funds to purchase inventory, therefore, assessee was duly entitled to claim deduction under section 36(1)(iii)....

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