RAWALPINDI CO-OP CINEMA SOCIETY LIMITED SOCIETY CINEMA LUDHIANA, PUNJAB,LUDHIANA, PUNAB vs. THE DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-2, LUDHIANA, LUDHIANA, PUNJAB

ITA 180/CHANDI/2024Status: DisposedITAT Chandigarh15 January 2025AY 2018-2019Bench: SHRI RAJPAL YADAV (Vice President), SHRI KRINWANT SAHAY (Accountant Member)1 pages
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What did the Tribunal hold?

The Tribunal held that proceedings under Section 153C were void ab initio as no incriminating material relating to the assessee was found during the search. Consequently, the assessment order and the CIT(A)'s order sustaining additions based on such proceedings could not be sustained.

What were the facts?

The assessee's case was initiated under Section 153C based on documents found during a search of a related group. The assessee had sold land and claimed a long-term capital loss, but the Assessing Officer (AO) made an addition based on a different valuation. The CIT(A) partially allowed the assessee's appeal.

What were the issues?

Whether proceedings initiated under Section 153C are valid when no incriminating material is found relating to the assessee. Whether the valuation of land for capital gains calculation was correctly determined.

Which sections of the Income-tax Act were involved?

Section 153C,Section 55(2)(b)(i)

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Heard together (2 matters)

ITA No. 180/CHD/2024
ITA No. 552/CHD/2024

Read from the judgment's own cause title. This page is filed under one of them.

आयकर अपील"य अ"धकरण,च"डीगढ़ "यायपीठ, च"डीगढ़ IN THE INCOME TAX APPELLATE TRIBUNAL CHANDIGARH BENCH, ‘B’, CHANDIGARH

BEFORE SHRI RAJPAL YADAV, VICE PRESIDENT & SHRI KRINWANT SAHAY, ACCOUNTANT MEMBER आयकर अपील सं./ ITA No. 180/CHD/2024 "नधा"रण वष" / Assessment Year : 2018-19 Rawalpindi Co-op Vs. The DCIT, बनाम Cinema Society Ltd., Central Circle-2, Society Cinema, Ludhiana Ludhiana 141008 "थायी लेखा सं./PAN No: AAAAR0233K अपीलाथ"/ APPELLANT ""यथ"/ REPSONDENT & आयकर अपील सं./ ITA No. 552/CHD/2024 "नधा"रण वष" / Assessment Year : 2018-19 The DCIT, Vs. Rawalpindi Co-op Cinema Central Circle-2, बनाम Society Ltd., Ludhiana Society Cinema, Ludhiana 141008 "थायी लेखा सं./PAN No: AAAAR0233K अपीलाथ"/ APPELLANT ""यथ"/ REPSONDENT ( Hybrid Hearing) "नधा"रती क" ओर से/Assessee by : Shri Sudhir Sehgal, Advocate राज"व क" ओर से/ Revenue by : Smt. Kusum Bansal, CIT DR सुनवाई क" तार"ख/Date of Hearing : 03.12.2024 उदघोषणा क" तार"ख/Date of Pronouncement : 15.01.2025

180 & 552-Chd-2024 – Rawalpindi Coop Cinema Society ltd., Ludhiana 2

आदेश/Order Per Krinwant Sahay, A.M.:

The appeal in this case has been filed by the Assessee against the order dated 12.4.2022 passed by the ld. Commissioner of Income Tax

The order continues below.

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