Judgements by mahendra gargieya

ITAT dismisses solitary ground of appeal in the appeal of the department

mahendra gargieya 21 April 2022 at 17:44

This appeal by the Department is directed against the order of the learned Commissioner of Income Tax, Appeals-2, Jaipur [Herein after referred to as ld. CIT(A) ]dated 10-12-2019 for the assessment year 2016-2017.]

Posted in Income Tax | 399 Views

ITAT deletes disallowance made on account of employees contribution towards PF & ESI

mahendra gargieya 18 April 2022 at 10:16

Respectfully following the order of this Bench in the case of Sanjay Porwal vs CPC Bengaluru/ITO, Ward 6(4), Jaipur (supra), the disallowance made on account of employees contribution towards PF & ESI deposited before due date of filing of return of

Posted in Income Tax | 968 Views

Case Analysis: ITO vs. Shri Bhagchand Jain

mahendra gargieya 26 January 2022 at 18:04

In the result, appeal of the Revenue is dismissed and the cross objection of the assessee is partly allowed.

Posted in Income Tax | 170 Views

Rajasthan High Court quashes reassessment notice issued under Sec 148 of the Income Tax Act

mahendra gargieya 04 December 2021 at 09:11

The reassessment notice issued to the petitioners under Section 148 of the Income Tax Act is quashed. However, it is left open to the assessing authority to initiate re-assessment proceedings in accordance with the provisions of the Act, as amended

Posted in Income Tax | 559 Views

Section 292BB of the Income Tax Act cannot be given a retrospective effect

mahendra gargieya 03 December 2021 at 17:46

In that view of the matter, we do not find that the Tribunal has committed any error in setting aside the assessment. The counsel for the revenue however has strenuously argued that in view of Section 292BB inserted in the Income Tax Act, mere defect

Posted in Income Tax | 176 Views

To assume a valid jurisdiction u/s 147 of the Income Tax Act, the AO must form a reason to believe on his own - Clarifies ITAT

mahendra gargieya 02 October 2021 at 13:16

This is the appeal filed by the assessee against the order of the ld. CIT(A), Alwar dated 30/10/2019 for the A.Y. 2008-09

Posted in Income Tax | 76 Views

Taxation of funds received in the form of share premium

mahendra gargieya 29 September 2021 at 16:51

The present appeal has been filed by the assessee against the order of the ld. Pr.CIT, Udaipur dated 11/02/2021 passed U/s 263 of the Income Tax Act, 1961 (in short, the Act) for the A.Y. 2016-17.

Posted in Income Tax | 116 Views

Explanation and evidence w.r.t. cash recoveries made from Sundry Advances

mahendra gargieya 28 September 2021 at 09:39

The impugned order passed by the ld PCIT u/s 263 is accordingly set aside and the order of the Assessing officer is sustained.

Posted in Income Tax | 127 Views

Acceptance of application under Rule 46-A of the Income Tax Act

mahendra gargieya 28 September 2021 at 08:35

This is an appeal filed by the assessee against the order of ld. CIT(A), Ajmer dated 25/01/2016 for the A.Y. 2008-09 in the matter of order passed U/s 143(3) of the Income Tax Act, 1961

Posted in Income Tax | 126 Views

Are stamp duty value and purchase consideration required to be added as income from other sources?

mahendra gargieya 28 September 2021 at 08:35

The present appeal has been filed by the assessee against the order of the ld. Pr.CIT-2, Jaipur dated 28/02/2020 passed U/s 263 of the Income Tax Act, 1961 (in short, the Act) for the A.Y. 2015-16

Posted in Income Tax | 202 Views