Prime Steel Industries (P.) Ltd. v. DCIT

Income Tax Officer, Ward-I, Mandi Gobindgarh vs. Rohit, Mandi Gobindgarh

The appeal stands dismissed

Bench: Hon’Ble Shri Rajpal Yadav & Hon’Ble Shri Manoj Kumar Aggarwal, Am आयकर अपील सं. / Ita No.905/Chandi/2025 (िनधा"रण वष" / Assessment Year: 2021-22) Ito-Ward-1 Shri Rohit Mandi Gobindgarh Shop No.308, Sec-26A बनाम/ At Sirhind, New Libra Kothi Amloh Road, Gobindgarh Vs. Railway Road, Sirhind Fatehgarh Sahib - 147301 Fatehgarh Sahib – 147301 "थायीलेखासं./जीआइआरसं./Pan/Gir No. Asopr-3001-Q (अपीलाथ"/Appellant) : (""थ" / Respondent) Assessee By : Shri Ashok Goyal (Ca) – Ld. Ar Revenue By : Shri Bharat Bhushan Garg (Cit) – Ld. Dr (Virtual) सुनवाईकीतारीख/Date Of Hearing : 10-11-2025 घोषणाकीतारीख /Date Of Pronouncement : 13-01-2026 आदेश / O R D E R Manoj Kumar Aggarwal () 1. Aforesaid Appeal By Revenue For Assessment Year (Ay) 2021-22 Arises Out Of An Order Of Learned Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre (Nfac), Delhi [Cit(A)] Dated 12-06- 2025 In The Matter Of An Assessment Framed By Ld. Assessing Officer [Ao] U/S. 143(3) R.W.S 144B Of The Act On 24-12-2022. The Sole Grievance Of The Revenue Is Deletion Of Addition Of Rs.1509.90 Lacs As Made By Ld. Ao On Account Of Alleged Bogus Purchases While Framing The Assessment. The Sole Ground Of Appeal Read As Under: - Whether On The Facts & In The Circumstances Of The Case, The Cit(A) / Nfac Was Right In Law In Deleting The Addition Of Rs.15,09,90,967/- As Shown Purchases Expenses Claimed By The Assessee & Nefac Has Added To The Total Income & Taxed As Income From Other Sources U/S 69C Of The Act?

…1 IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, CHANDIGARH HYBRID HEARING BEFORE HON’BLE SHRI RAJPAL YADAV, VICE PRESIDENT AND HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM आयकर अपील सं. / ITA No.905/CHANDI/2025 (िनधा"रण वष" / Assessment Year: 2021-22) ITO-Ward-1 Shri Rohit Mandi Gobindgarh Shop No.308, Sec-26A बनाम/ At Sirhind, New Libra Kothi Amloh Road, Gobindgarh Vs. Railway Road, Sirhind Fatehgarh Sahib - 147301 Fatehgarh Sahib – 147301 "थायीलेखासं./जीआइआरसं./PAN/GIR No. ASOPR-3001-Q (अपीलाथ"/Appellant) : (""थ" / Respondent) Assessee By : Shri Ashok Goyal (CA) – Ld. AR Revenue By : Shri Bharat Bhushan Garg (CIT)…

Income Tax Officer, New Libra Kothi, Railway Road, Sirhind vs. Bhagwan Dass, Amloh Road, Mandi Gobindgarh

In the result, appeal of the Revenue is dismissed

…s were accepted and stock tally maintained. The assessee, on the other hand, relied upon a series of decisions of jurisdictional ITAT Chandigarh and other High Courts including Gaurav Singhi v. ITO (ITA 889/Chd/2024), Prime Steel Industries Pvt. Ltd. v. DCIT (174 Taxmann.com 547), DCIT v. Malbros International Pvt. Ltd. (ITA 992 & 993/Chd/2024), and CIT v. Nikunj Eximp Enterprises (372 ITR 619 Bom) — holding that when books are not rejected and sales accepted, no addition on account of GP is called for. Respectfully following these binding and persuasive precedents, we find no error in the order of the Ld. CIT(A)…

Tarun Sharda Joint Commissioner of Income Tax (in Situ) Circle-I, Ludhiana vs. Sharmanji Yarns Private Limited, Ludhiana

Appeal stands dismissed

Bench: Hon’Ble Shri Rajpal Yadav & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकर अपील सं. / Ita No.340/Chandi/2025 (िनधा"रण वष" / Assessment Year: 2020-21) Jcit (In Situ) M/S Sharmanji Yarns Pvt. Ltd. Circle-1 बनाम/ Village Lakhowal Road Aaykar Bhawan, Rishi Nagar Kohara, Jandiali Vs. Ludhiana – 141001 Ludhiana - 141112 "ायीलेखासं./जीआइआरसं./Pan/Gir No. Aahcs-6629-R (अपीलाथ"/Appellant) : (""थ" / Respondent) & 2. आयकर अपील सं. / Ita No.331/Chandi/2025 (िनधा"रण वष" / Assessment Year: 2020-21) M/S Sharmanji Yarns Pvt. Ltd. Dcit-Circle-1 बनाम/ Village Lakhowal Road Aaykar Bhawan, Rishi Nagar Kohara, Jandiali Ludhiana – 141001 Vs. Ludhiana - 141112 "ायीलेखासं./जीआइआरसं./Pan/Gir No. Aahcs-6629-R (अपीलाथ"/Appellant) : (""थ" / Respondent) Assessee By : Shri Tej Mohan Singh (Advocate) – Ld. Ar Revenue By : Smt. Kusum Bansal (Cit)(Virtual) – Ld. Dr सुनवाईकीतारीख/Date Of Hearing : 08-10-2025 घोषणाकीतारीख /Date Of Pronouncement : 17/11/2025 आदेश / O R D E R Manoj Kumar Aggarwal () 1.1 Aforesaid Cross-Appeals For Assessment Year (Ay) 2020-21 Arises Out Of An Order Of Learned Commissioner Of Income Tax (Appeals)

…1 IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, CHANDIGARH PHYSICAL HEARING BEFORE HON’BLE SHRI RAJPAL YADAV, VICE PRESIDENT AND HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM 1. आयकर अपील सं. / ITA No.340/CHANDI/2025 (िनधा"रण वष" / Assessment Year: 2020-21) JCIT (In situ) M/s Sharmanji Yarns Pvt. Ltd. Circle-1 बनाम/ Village Lakhowal Road Aaykar Bhawan, Rishi Nagar Kohara, Jandiali Vs. Ludhiana – 141001 Ludhiana - 141112 "ायीलेखासं./जीआइआरसं./PAN/GIR No. AAHCS-6629-R (अपीलाथ"/Appellant) : (""थ" / Respondent) & 2. आयकर अपील सं. / ITA No.331/CHANDI/2025 (िनधा"रण वष" / Assessment Year: 2020-21) M/s Sharmanji Yarns Pvt. L…

Sharmanji Yarns Private Limited, Ludhiana vs. Deputy Commissioner of Income Tax, Circle -1, Ludhiana

Appeal stands dismissed

Bench: Hon’Ble Shri Rajpal Yadav & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकर अपील सं. / Ita No.340/Chandi/2025 (िनधा"रण वष" / Assessment Year: 2020-21) Jcit (In Situ) M/S Sharmanji Yarns Pvt. Ltd. Circle-1 बनाम/ Village Lakhowal Road Aaykar Bhawan, Rishi Nagar Kohara, Jandiali Vs. Ludhiana – 141001 Ludhiana - 141112 "ायीलेखासं./जीआइआरसं./Pan/Gir No. Aahcs-6629-R (अपीलाथ"/Appellant) : (""थ" / Respondent) & 2. आयकर अपील सं. / Ita No.331/Chandi/2025 (िनधा"रण वष" / Assessment Year: 2020-21) M/S Sharmanji Yarns Pvt. Ltd. Dcit-Circle-1 बनाम/ Village Lakhowal Road Aaykar Bhawan, Rishi Nagar Kohara, Jandiali Ludhiana – 141001 Vs. Ludhiana - 141112 "ायीलेखासं./जीआइआरसं./Pan/Gir No. Aahcs-6629-R (अपीलाथ"/Appellant) : (""थ" / Respondent) Assessee By : Shri Tej Mohan Singh (Advocate) – Ld. Ar Revenue By : Smt. Kusum Bansal (Cit)(Virtual) – Ld. Dr सुनवाईकीतारीख/Date Of Hearing : 08-10-2025 घोषणाकीतारीख /Date Of Pronouncement : 17/11/2025 आदेश / O R D E R Manoj Kumar Aggarwal () 1.1 Aforesaid Cross-Appeals For Assessment Year (Ay) 2020-21 Arises Out Of An Order Of Learned Commissioner Of Income Tax (Appeals)

…1 IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, CHANDIGARH PHYSICAL HEARING BEFORE HON’BLE SHRI RAJPAL YADAV, VICE PRESIDENT AND HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM 1. आयकर अपील सं. / ITA No.340/CHANDI/2025 (िनधा"रण वष" / Assessment Year: 2020-21) JCIT (In situ) M/s Sharmanji Yarns Pvt. Ltd. Circle-1 बनाम/ Village Lakhowal Road Aaykar Bhawan, Rishi Nagar Kohara, Jandiali Vs. Ludhiana – 141001 Ludhiana - 141112 "ायीलेखासं./जीआइआरसं./PAN/GIR No. AAHCS-6629-R (अपीलाथ"/Appellant) : (""थ" / Respondent) & 2. आयकर अपील सं. / ITA No.331/CHANDI/2025 (िनधा"रण वष" / Assessment Year: 2020-21) M/s Sharmanji Yarns Pvt. L…