M/S CITI PLAZA,JALANDHAR vs. INCOME TAX OFFICER , WARD 3(1), JALANDHAR

In the result, the appeal of the assessee bearing ITA No

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

capital gain, if any was assessable in AY 2006-07, which claim had been accepted by his predecessor to delete the addition made in AY 2005-06, now the contentions raised by assessee were totally misleading and contrary to facts. 4. The assessee had relied upon a plethora of under noted cases, wherein the findings/directions were elaborately explained

MAX FINANCIAL SERVICE LIMITED ,NAWANSHAHR vs. PRINCIPAL COMMISSIONER OF INCOME TAX -1, JALANDHAR

In the result, the appeal of the assessee is therefore partly allowed

gains of business” as against “income from house property” and consequential claim of depredation under section 32 of the Act, being supported by various decisions of the High Courts could not have been termed as erroneous. 9. Without prejudice to the above, the PCIT failed to appreciate that business expenditure as claimed by the Appellant for the purposes of carrying

SMT. AMITA NARANG,DELHI vs. THE DY COMMISSIONER OF INCOME TAX, JAMMU

In the result, the assessee’s appeal is dismissed

Bench: Sh. Sanjay Arorai.T.A. No. 385/Asr/2016 Assessment Year: 2007-08

depreciation on its’ user, or a non-business (personal) asset. The decision is thus equally applicable in the context of computation of capital gains

THE DEPUTY COMMISSIONER OF INCOME TAX, JAMMU vs. M/S. JAMMU DEVELPMENT AUTHORITY,, JAMMU

In the result, the appeal of the assessee is partly allowed for statistical purposes and the appeal of the department is dismissed

Bench: Sh. N. S. Saini & Sh. N. K. Choudhryita No. 498/Asr./2013 : Asstt. Year : 2005-06 Jammu Development Authority, Vs Dy. Commissioner Of Income Vikas Bhawan, Rail Head Tax, Circle-I, Complex, Jammu, J & K Jammu (Appellant) (Respondent) Pan No. Aadfj7335A Ita No. 494/Asr./2013 : Asstt. Year : 2005-06 Dy. Commissioner Of Income Vs Jammu Development Authority, Tax, Circle-I, Vikas Bhawan, Rail Head Jammu Complex, Jammu, J & K (Appellant) (Respondent) Pan No. Aabcp1720E Assessee By : Shri. R. K. Gupta, Ca & Shri. Vasu Gupta, Ca Revenue By : Shri. M. P. Singh, Cit Dr Date Of Hearing :21.02.2019 Date Of Pronouncement : 22.03.2019 Order Per N. S. Saini: These Are The Cross Appeals Filed By The Assessee & Revenue Against The Order Of Commissioner Of Income Tax (Appeals) Dated 06.05.2013, Jammu.

depreciation thereon. The Hon'ble Supreme Court in the case of CIT Vs Podar Cement (P) Ltd has while interpreting the section 22 of the Act has observed that 'owner' for the purpose of sec 22, is person who is entitled to receive income from the property in his own right. The requirement of registration of sale deed

M/S. JAMMU DEVELOPMENT AUTHORITY,,JAMMU ( J&K) vs. THE DEPUTY COMMISSIONER OF INCOME TAX, JAMMU

In the result, the appeal of the assessee is partly allowed for statistical purposes and the appeal of the department is dismissed

Bench: Sh. N. S. Saini & Sh. N. K. Choudhryita No. 498/Asr./2013 : Asstt. Year : 2005-06 Jammu Development Authority, Vs Dy. Commissioner Of Income Vikas Bhawan, Rail Head Tax, Circle-I, Complex, Jammu, J & K Jammu (Appellant) (Respondent) Pan No. Aadfj7335A Ita No. 494/Asr./2013 : Asstt. Year : 2005-06 Dy. Commissioner Of Income Vs Jammu Development Authority, Tax, Circle-I, Vikas Bhawan, Rail Head Jammu Complex, Jammu, J & K (Appellant) (Respondent) Pan No. Aabcp1720E Assessee By : Shri. R. K. Gupta, Ca & Shri. Vasu Gupta, Ca Revenue By : Shri. M. P. Singh, Cit Dr Date Of Hearing :21.02.2019 Date Of Pronouncement : 22.03.2019 Order Per N. S. Saini: These Are The Cross Appeals Filed By The Assessee & Revenue Against The Order Of Commissioner Of Income Tax (Appeals) Dated 06.05.2013, Jammu.

depreciation thereon. The Hon'ble Supreme Court in the case of CIT Vs Podar Cement (P) Ltd has while interpreting the section 22 of the Act has observed that 'owner' for the purpose of sec 22, is person who is entitled to receive income from the property in his own right. The requirement of registration of sale deed

SHRI ARNESH KUMAR SHAKAR EX. MLA,HOSHIARPUR vs. INCOME TAX OFFICER WARD, DASUYA

In the result, appeal of the assessee ITA No

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

capital gain would be taxable in the financial year 2009-10 relevant to assessment year 2010-11 i.e. the previous year in which the period of three years from the date of transfer of original assets expired. 4. So with a view to comply with the above said directions of the Commissioner of Income Tax (Appeals), Jalandhar approval may kindly

SHRI KANAV KHANNA,,AMRITSAR. vs. THE ASSTT. COMMISSIONER OF INCOME-TAX,, AMRITSAR.

In the result, the ground no- G of appeal of the assessee is dismissed

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

Capital Gain of Rs. 5,12,87,410/- in respect of 77 Maria from Khasra No. 1034/3 has been denied exemption and thereby Income Tax liability of Rs. 1,07,59,391/- has been demanded along with Education Cess of Rs.3,22,782/- besides interest of Rs. 5,04,468/- u/s 234B and Rs. 11,71,148/- u/s 234D

SH. RAJINDER KUMAR CHADHA,BEAS vs. INCOME TAX OFFICER, AMRITSAR.

In the result, the appeal of the assessee is partly allowed

Bench: Shri N.K. Choudhry & Shri O.P.Meenaआ.अ.संसंसंसं././././I.T.A No.28/Asr/2017 िनधा"रणवष"/A.Y.:2003-04 िनधा"रणवष" िनधा"रणवष" िनधा"रणवष" Shri Rajinder Kumar Chadha, Vs. Income Tax Officer, K/105, Dera Baba Jaimal Singh, Ward-4(3) Amritsar Beas Pan:Abipc 5206 H अपीलाथ"Appellant अपीलाथ" ""यथ"/Respondent ""यथ" अपीलाथ" अपीलाथ" ""यथ" ""यथ"

depreciation @95% of cost taking the life of properties at 60 years. The AO is therefore, directed to consider value of property as per Rent Capitalization Method and compute capital gains

SH. GURJINDER SINGH,AMRITSAR vs. PR. COMMISSIONER OF INCOME TAX -1, AMRITSAR

In the result, appeal of the assessee is allowed

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

capital gain and break up of investments on which depreciation was claimed—AO had considered the same and assessment order

SHRI AMRITPAL SINGH (PROP),JALANDHAR vs. PRINCIPAL COMMISSIONER OF INCOME TAX- 1, JALANDHAR

In the result, appeal of the assessee ITA No

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

capital gain and d education claimed u/s 54D along with documents. Please explain as to why the deduction claimed u/s 54D may not be disallowed and added to your income. Please furnish your reply with evidence. Keeping in view the above facts, your case is fixed for hearing on 18.11.2016 and you are requested to attend my office with your

M/S ACTIVE TOOLS (P). LIMITED,JALANDHAR vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE -II, JALANDHAR

Bench: : Shri Laliet Kumar & Dr. Mitha Lal Meena

capital gains, nor as it income from "other sources" because the provisions of sections 69,69A, 69B and 69 treat unexplained investments, unexplained money, bullion etc. and unexplained expenditure as deemed income where the nature and sources of investment, acquisition or expenditure, as the case may be, have not been explained or satisfactorily explained. Therefore, in these cases, the source

GMG HEALTHCARE PRIVATE LIMITED,JALANDHAR vs. THE ADDITIONAL COMMISSIONER OF INCOME TAX, JALANDHAR

Bench: Shri L. P. Sahu & Shri Ravish Sood

gains of its business or profession and accordingly chargeable to income tax as its deemed income of that previous year within the meaning of Sec. 41(1) of the Act. But then, we hold a strong conviction that the A.O while making an addition under Sec. 41(1) remains under a statutory obligation to point out as to what benefit

ISHAR INFRASTRUCTURE DEVELPOPERS PRIVATE LIMITED,BATHINDA vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1, BATHINDA

In the result, the appeal of the assessee is allowed for statistical purposes

Bench: Sh. Manoj Kumar Aggarwal & Sh. Udayan Dasgupta(Hybrid Hearing) I.T.A. No. 686/Asr/2024 Assessment Year: 2022-23

Capital IQ (India) (P.) Ltd. vs. ACIT, 158 taxmann.com 12 (Hyd. Trib). Nehru Memorial Education Society vs. ITO (Exemp.) 161 taxmann.com 312 (Cochin Trib.). 7. Regarding the claim of unabsorbed depreciation brought forward amounting to Rs.1,50,49,432/- the Ld AR submitted that the first appellate authority has denied the set off observing that no adjustment was made

ATC LOGISTICAL SOLUTIONS PRIVATE LIMITED ,DELHI vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1, AMRITSAR

In the result, appeal of the assessee ITA No

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

capital expenditure33 or personal expenses of the assessee), laid out or expended wholly and exclusively33 for the purposes of the business33 or profession shall be allowed in computing the income chargeable under the head "Profits and gains of business or profession". 34[35[Explanation 1.]—For the removal of doubts, it is hereby declared that any expenditure incurred

INCOME TAX OFFICER, FEROZEPUR vs. MS.JATIN AGRO, FORT ROAD

In the result, the appeal of the revenue is dismissed

Bench: Sh. Manoj Kumar Aggarwal & Sh. Udayan Dasgupta(Physical Hearing) I.T.A. No. 103 & 104/Asr/2024 Assessment Years: 2014-15 & 2017-18 Ito, Ward-3(1), Vs. M/S Jatin Agro Fort Road, Ferozepur. 152-P, Ferozepur. [Pan:-Aarpm5393F] (Appellant) (Respondent) Sh. Ashray Sarna, Ca Appellant By Respondent By Sh. Sunil Gautam, Cit. Dr

gains of any business or profession which was the assessee at any time during the previous year" 3.1 Thus, the income earned by the assessee during the year under consideration did not fall under the purview of business income and in the absence of business activity, income derived from land or building would clearly fall under the head income from

INCOME TAX OFFICER, WARD-3(1),FEROZEPUR, FEROZEPUR vs. MS.JATIN AGRO, FORT ROAD

In the result, the appeal of the revenue is dismissed

Bench: Sh. Manoj Kumar Aggarwal & Sh. Udayan Dasgupta(Physical Hearing) I.T.A. No. 103 & 104/Asr/2024 Assessment Years: 2014-15 & 2017-18 Ito, Ward-3(1), Vs. M/S Jatin Agro Fort Road, Ferozepur. 152-P, Ferozepur. [Pan:-Aarpm5393F] (Appellant) (Respondent) Sh. Ashray Sarna, Ca Appellant By Respondent By Sh. Sunil Gautam, Cit. Dr

gains of any business or profession which was the assessee at any time during the previous year" 3.1 Thus, the income earned by the assessee during the year under consideration did not fall under the purview of business income and in the absence of business activity, income derived from land or building would clearly fall under the head income from

M/S GURU RAM DASS EDUCATIONAL SOCIETY,BATHINDA vs. THE COMMISSIONER OF INCOME TAX (EXEMPTION), CHANDIGARH

In the result, the assessee’s appeal is allowed

Bench: Sh. Sanjay Arora & Sh. N. K. Choudhryi. T. A. No. 598/Asr/2016 Assessment Year: N.A.

gains from it as being regarded as income liable for exemption u/s. 11(1)(a) where the ‘business’ is incidental to or subserves the charitable purpose (refer s. 11(4A)). The restriction, prior to sec. 11(4A), was spelt out u/s. 13(1)(bb), since omitted, stipulating a more stringent requirement of the business being carried on in the course

THE DY. COMMISSIONER OF INCOME-TAX,, JAMMU vs. M/S. CONTINENTAL CONSTRUCTION CO,, JAMMU ( J&K)

In the result, the appeal filed by the assessee is allowed as well as the appeal filed the Revenue Department is dismissed and Cross Objection also stands disposed off

Bench: Sh. Sanjay Arora & Sh. N.K.Choudhryita No.38(Asr)/2013 Assessment Year:2009-10

depreciation and interest charges debited in the accounts never been considered by the Assessing Officer. It is undisputed fact that the working in the state of J&K is not congenial and all the time depends upon the natural calamities as well as terrorist activities, hence in the aforesaid circumstances, in our considered opinion the estimation of net profit rate