Gaurish Steels Pvt. Ltd. v. ACIT

43 ITR (Trib) 414Income Tax Appellate Tribunal2015#14199 most cited
7

judgments rely on this decision, according to BharatTax’s citation analysis of 341,001 Indian tax judgments — from 2018 to 2024.

Issues it is cited on

section 40(b)set off of lossespreponderance of probabilitysurvey under section 133asection 69bsundry creditorsloose paperssection 115bbsection 115bunexplained expendituresection 133unexplained investment

Judgments citing Gaurish Steels Pvt. Ltd. v. ACIT

M/S Amarjit & Sons, Ludhiana vs. DCIT, CC-2, Ludhiana

In the result, appeal of the assessee is allowed

ITA 203/CHANDI/2023[2019-20]Status: DisposedITAT Chandigarh21 Nov 2024AY 2019-20

Bench: The Ld. Cit(A) Have Not Been Appreciated.

For Appellant: Shri Sudhir Sehgal, AdvocateFor Respondent: Smt. Amanpreet Kaur, Sr. DR
Section 115BSection 133ASection 69Section 69B

…f Coordinate Jaipur Benches has since been confirmed by the Hon’ble Rajasthan High Court in case of PCIT vs Bajargan Traders (DB Appeal No. 258/2017 dt. 12/09/2017). 8.8 Similarly, the Coordinate Chandigarh Benches in case of Gaurish Steels Pvt. Ltd. Vs ACIT 43 ITR (Trib) 414 has held as under: “10. We have heard the rival contentions and perused the material available on record. This is a fact on record that the assessee surrendered an amount of Rs.70 lacs as additional income during the course of survey conducted at its premises on account of following heads: (i) Discrepancy on account of cash found Rs. 9 lacs…

Saru Enterprises Private Limited, Patiala vs. ACIT/DCIT, Cen. Cir., Patiala

In the result, the appeal of the assessee is allowed

ITA 271/CHANDI/2023[2018-19]Status: DisposedITAT Chandigarh23 Feb 2024AY 2018-19

Bench: SHRI. AAKASH DEEP JAIN (Vice President), SHRI. VIKRAM SINGH YADAV (Accountant Member)

For Appellant: Shri Rajiv Saldi, C.AFor Respondent: Shri Dharamvir, JCIT, Sr. D.R
Section 115BSection 133ASection 143(2)Section 68Section 69Section 69A

…provision of Section 69 of the Act and in support, reliance was placed on the various Coordinate Bench decisions such as decision of Coordinate Chandigarh Bench in case of M/s Veer Enterprises Vs. DCIT in ITA No. 255/Chd/2023, Gaurish Steels Pvt. Ltd. Vs ACIT 43 ITR (Trib) 414 , Famina Knit Fab v ACIT 176 ITD 246 and M/s Jain Plywood Vs. DCIT in ITA No. 588/CHD/2022. 20. As far as the surrender on account of excess cash was concerned, it was submitted that the same was honoured by the assessee and included in its return of income and no adverse finding was recorded by the AO. However during the course of appellat…

Sh. Gurinder Makkar, Ludhiana vs. DCIT, CC-3, Ludhiana

In the result, the appeal of the assessee is disposed off in light of aforesaid directions

ITA 20/CHANDI/2023[2018-19]Status: DisposedITAT Chandigarh21 Feb 2024AY 2018-19

Bench: SHRI. AAKASH DEEP JAIN (Vice President), SHRI. VIKRAM SINGH YADAV (Accountant Member)

For Appellant: Shri Sudhir Sehgal, AdvocateFor Respondent: Smt. Amanpreet Kaur, Sr. DR
Section 115BSection 133ASection 143(3)Section 32Section 37Section 40A(3)Section 43(1)Section 68Section 69

…f Coordinate Jaipur Benches has since been confirmed by the Hon’ble Rajasthan High Court in case of PCIT vs Bajargan Traders (DB Appeal No. 258/2017 dt. 12/09/2017). 8.8 Similarly, the Coordinate Chandigarh Benches in case of Gaurish Steels Pvt. Ltd. Vs ACIT 43 ITR (Trib) 414 has held as under: “10. We have heard the rival contentions and perused the material available on record. This is a fact on record that the assessee surrendered an amount of Rs.70 lacs as additional income during the course of survey conducted at its premises on account of following heads: (i) Discrepancy on account of cash found Rs. 9 lac…

M/S A.P. Knit Fab, Ludhiana vs. DCIT CC-3, Ludhiana

In the result, the appeal of the assessee is allowed

ITA 732/CHANDI/2022[2018-19]Status: DisposedITAT Chandigarh15 Feb 2024AY 2018-19

Bench: The Ld. Cit(A) Have Not Been Appreciated. 4. That The Ld. Cit(A) Has Failed To Appreciate That During The Course Of Survey, No Other Income Was Noticed By The Department And, As Such, Taxing The Amount Offered As Deemed Income, Is Against The Facts & Circumstances Of The Case. 5. That The Ld. Cit(A) Has Also Failed To Appreciate That At The Time Of Survey, It Was Agreed That The Applicant Shall Pay The Taxes On The Amount Offered

For Appellant: Shri Sudhir Sehgal, AdvocateFor Respondent: Smt. Amanpreet Kaur, Sr. DR
Section 115BSection 133ASection 69Section 69B

…f Coordinate Jaipur Benches has since been confirmed by the Hon’ble Rajasthan High Court in case of PCIT vs Bajargan Traders (DB Appeal No. 258/2017 dt. 12/09/2017). 8.8 Similarly, the Coordinate Chandigarh Benches in case of Gaurish Steels Pvt. Ltd. Vs ACIT 43 ITR (Trib) 414 has held as under: “10. We have heard the rival contentions and perused the material available on record. This is a fact on record that the assessee surrendered an amount of Rs.70 lacs as additional income during the course of survey conducted at its premises on account of following heads: (i) Discrepancy on account of cash found Rs. 9 la…

Sh. Krishan Kumar, Khanna vs. DCIT, CC-1, Ludhiana

In the result, the appeal of the Assessee is allowed

ITA 175/CHANDI/2023[2019-20]Status: DisposedITAT Chandigarh04 Jan 2024AY 2019-20

Bench: Shri A.D. Jain & Shri Vikram Singh Yadav

For Appellant: Shri Sudhir Sehgal, AdvFor Respondent: Shri Anil Sharma, JCIT, Sr.DR
Section 115BSection 133ASection 139Section 143(1)Section 143(2)Section 68Section 69Section 69ASection 69BSection 69C

…e said case is clearly distinguishable on facts in the present case. It was submitted that the said decision has been considered in various Co-ordinate Chandigarh Bench decisions such as Famina Knit Fabs Vs ACIT 176 ITD 246, Gaurish Steels Pvt. Ltd. Vs ACIT 43 ITR (Trib) 414 and Marshal Machines Pvt. Ltd. (ITA No. 57/CHD/2017). It was submitted that in the said decisions, the Co-ordinate Chandigarh Benches have adequately discussed the judgement of the Hon'ble Punjab & Haryana High Court in case of M/s Kim Pharma Pvt. Ltd. as well as Gujarat High Court in case of Fakir Mohmed Haji Hasan Vs CIT. 10. Further…

M/S Sharp Chuks and Machines Private Limited, Jalandhar vs. Deputy Commissioner of Income Tax Central Circle-1, Jalandhar

The appeal of the assessee is disposed of in the terms as above

ITA 169/ASR/2023[2017-18]Status: DisposedITAT Amritsar13 Sept 2023AY 2017-18

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

For Appellant: Sh. Rohit Kapoor, CA &For Respondent: Smt. Ratinder Kaur, Sr. DR
Section 1Section 115BSection 153(3)Section 250(6)Section 44ASection 69Section 69A

…IN THE INCOME TAX APPELLATE TRIBUNAL AMRITSAR BENCH, AMRITSAR BEFORE DR. M. L. MEENA, ACCOUNTANT MEMBER AND SH. ANIKESH BANERJEE, JUDICIAL MEMBER I.T.A. No. 169/Asr/2023 Assessment Year: 2017-18 M/s Sharp Chucks and Machines Vs. D.C.I.T. Pvt. Ltd., A-12, Industrial Central Circle 1, Development Colony, Jalandhar Jalandhar-144 001, Punjab [PAN: AACCS 0690M] (Respondent) (Appellant) Appellant by : Sh. Rohit Kapoor, CA & Sh. V.S. Aggarwal, ITP Respondent by : Smt. Ratinder Kaur, Sr. DR Date of Hearing : 29.08.2023 Date of Pronouncement : 13.09.2023 ORDER Per Dr. M. L. Meena, AM: The captioned appeal is filed…

DCIT, Central Circle II, Chandigarh vs. M/S Sab Industries Limited, Chandigarh

In the result, the appeal of the assessee is allowed

ITA 986/CHANDI/2017[2013-14]Status: DisposedITAT Chandigarh28 Mar 2018AY 2013-14

Bench: Smt. Diva Singh & Ms. Annapurna Gupta

For Appellant: Sh. Ashwani Kumar & Shri Aditya KumarFor Respondent: Sh. Ashish Abrol
Section 132Section 132(4)Section 139Section 143Section 153BSection 69

…IN THE INCOME TAX APPELLATE TRIBUNAL DIVISION BENCH ‘B’, CHANDIGARH BEFORE SMT. DIVA SINGH, JUDICIAL MEMBER AND MS. ANNAPURNA GUPTA, ACCOUNTANT MEMBER I.T.A. No. 848/Chd/2017 Assessment Year: 2013-14 M/s SAB Industries Limited Vs. Deputy Commissioner of Income Tax SCO 49-50, Sector-26, Central Circle-II, Chandigarh. Chandigarh. PAN:AACCS5078H (Appellant) (Respondent) I.T.A. No. 986/Chd/2017 Assessment Year: 2013-14 Deputy Commissioner of Vs. M/s SAB Industries Limited SCO 49- Income Tax Central Circle- 50, Sector-26, Chandigarh. II, Chandigarh. PAN:AACCS5078H (Appellant) (Respondent) Assessee by : Sh. Ashwa…

Gaurish Steels Pvt. Ltd. v. ACIT (43 ITR (Trib) 414) — Cited in 7 Judgments | BharatTax