SMT. SATYAWATI MARWAHA THROUGH LEGAL HEIR SH. CHANDER SHEIKHAR MARWAHA,JALANDHAR vs. ASSISTANT COMMISSIONER OF INCOME TAX, JALANDHAR

In the result, the appeal for Asstt

Bench: Sh. Manoj Kumar Aggarwal & Sh. Udayan Dasgupta

capital gains) amounting to Rs.2,02, 30,196/- which has been claimed as exempt u/s 10(38) of the Act) . After

SMT. SATYAWATI MARWAHA THROUGH LEGAL HEIR SH, CHANDER SHEIKHAR MARWAHA,JALANDHAR vs. ASSISTANT COMMISSIONER OF INCOME TAX, JALANDHAR

In the result, the appeal for Asstt

Bench: Sh. Manoj Kumar Aggarwal & Sh. Udayan Dasgupta

capital gains) amounting to Rs.2,02, 30,196/- which has been claimed as exempt u/s 10(38) of the Act) . After

MR RUDER MANI WALIA,JALANDHAR vs. INCOME TAX OFFICER WARD-2 (3), JALANDHAR

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

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjeei.T.A. No.257/Asr/2022 Assessment Year: 2017-18

gains is that of the LIC maturity proceeds only. 6.2) Tax treatment of “any sum received under a Life Insurance Policy”: It is important to note that section 10(10D) and section 194DA deals with “any sum received under a Life Insurance Policy” and “Payment in respect of Life Insurance Policy” respectively. Incomes not included in total income

SH. AMRIT LAL BATRA, PROP.,SRINAGAR vs. THE ADDITIONAL COMMISSIONER OF INCOME-TAX,, JAMMU

Appeals of the appellant are disposed off in the terms indicated as above

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

capital gains. 19. The Next issue the Hon’ble High Court has even set aside is the matter relating to legal expenses by observing that the Bench allowed the ground without giving any finding. 19.1 The Ld. AR argued that the legal expenses were incurred in order to protect the assessee’s interest of noting right who is the Chairman

SHRI AMRIT LAL BATRA,SRINAGAR vs. THE DY. COMMISSIONER OF INCOME-TAX-3, SRINAGAR

Appeals of the appellant are disposed off in the terms indicated as above

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

capital gains. 19. The Next issue the Hon’ble High Court has even set aside is the matter relating to legal expenses by observing that the Bench allowed the ground without giving any finding. 19.1 The Ld. AR argued that the legal expenses were incurred in order to protect the assessee’s interest of noting right who is the Chairman

HARBANS SINGH,P.O. KHERA DONA vs. INCOME TAX OFFICER, BSNL EXCHANGE COLONY

In the result, the appeal filed by the assessee is dismissed being devoid of merits

Bench: Dr. M. L. Meena & Sh. Udayan Dasgupta

exempt u/s 10(37) of the Act, has been dismissed by the Ld. first appellate authority, relying on the law laid down by the Hon’ble jurisdictional High Court in the case of Mahender Pal Narang v CBDT , New Delhi [2020] (423 ITR 13)/316 CTR 906 where the Hon’ble court has observed that interest received on compensation

INCOME TAX OFFICER WARD-1 , HOSHIAPUR vs. SHRI HARPINDER SINGH GILL , HOSHIARPUR

In the result, the appeal of the Revenue is dismissed

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

Capital Gain claimed by assessee as exempt income under RFCTLAAR Act on the basis that the circumstances in which the appellant

SH.GAURAV AGGARWAL,GURDAS PUR vs. DY.COMMISSIONER OF INCOME TAX, AMRITSAR

In the result, the appeal of assessee in ITA No

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

capital gain on sale of shares as assessee’s own unaccounted funds and denying the exemption u/s 10(38) of the Act. 2 That

M/S RAMAN KUMAR AGGARWAL,GURDASPUR vs. DY. COMMISSIONER .OF. INCOME. TAX , AMRITSAR

In the result, the appeal of assessee in ITA No

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

capital gain on sale of shares as assessee’s own unaccounted funds and denying the exemption u/s 10(38) of the Act. 2 That

SH. RAMAN KUMAR AGGARWAL,GURDAS PUR vs. DY. COMMISSIONER OF INCOME TAX , AMRITSAR

In the result, the appeal of assessee in ITA No

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

capital gain on sale of shares as assessee’s own unaccounted funds and denying the exemption u/s 10(38) of the Act. 2 That

SMT. DEEPTI AGGARWAL,GURDAS PUR vs. DY COMMISSIONER OF INCOME TAX, AMRITSAR

In the result, the appeal of assessee in ITA No

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

capital gain on sale of shares as assessee’s own unaccounted funds and denying the exemption u/s 10(38) of the Act. 2 That

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

exemption u/s 54F on account of deposit in the Capital Gains Scheme but directed that since the assessee had invested

SHRI. JAVEED AHMAD LONE ,ANANTNAGH vs. INCOME TAX OFFICER WARD-3(1), SRINAGAR

In the result, the appeal filed by the assessee is allowed for statistical purposes

Bench: Sh. Udayan Dasgupta & Sh. Krinwant Sahay

gains has been computed is actually sale of agricultural land held by the family members, the sale of which cannot be classified as a capital assets and the same is exempted

SMT. SATVIR KAUR W/O SH. SHINDER SINGH,FEROZEPUR vs. PRINCIPAL COMMISSIONER OF INCOME TAX-1, AMRITSAR

In the result, the appeal of the assessee is allowed

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

Capital Gain, exemption u/s 10(36) of the Act, deduction u/s 57 of the Act and unsecured loans and the assessees

POONAM MARWAHA,AMRITSAR vs. ACIT DCIT CEN CIR, AMRITSAR

In the result, the appeal filed by assessee is allowed

capital gain\n(LTCG) to claim exemption under section 10 (38) was based on a proposal given by\nAssessing Officer

SHRI RAM DAS,NAWANSHAHAR vs. INCOME TAX OFFICER, NAWANSHAHAR

In the result, ground no. 1 and 2 are dismissed and Ground nos

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

capital gain was calculated is an agricultural land and liable to be exempted. The grievance of the ld. AR was reasonable

INCOME TAX OFFICER WARD -2 (1), AMRITSAR vs. MS. SAVITA BANSAL, THROUGH LEGAL HEIR SH. PARVEEN KUMAR BANSAL, AMRITSAR

In the result, the revenue’s appeal stands dismissed

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Udayan Das Gupta, Jm 1. आयकर अपील सं. / Ita No. 240/Asr/2023 (िनधा"रण वष" / Assessment Year: 2016-17) Income Tax Officer Smt. Savita Bansal Ward-2(1) बनाम/ (Through L/H Shri Parveen Kumar Bansal) Amritsar 143001 H.No. 272, Green Avenue Vs. Amritsar-143001. "थायीलेखासं./Pan. Abmpb-3594-K (Assessee) / Acnpk-4131-D (Lh) (अपीलाथ"/Appellant) : (""थ" / Respondent) & 2. Cross Objection No. 1/Amritsar/2024 (In Ita No. 240/Asr/2023) (िनधा"रण वष" / Assessment Year: 2016-17) Smt. Savita Bansal Income Tax Officer बनाम/ (Through L/H Shri Parveen Kumar Bansal) Ward-2(1) H.No. 272, Green Avenue Amritsar 143001 Vs. Amritsar-143001. "थायीलेखासं./Pan. Abmpb-3594-K (Assessee) / Acnpk-4131-D (Lh) (अपीलाथ"/Appellant) : (""थ" / Respondent) अपीलाथ"कीओरसे/Appellant By : Dr Rakesh Gupta (Advocate) –Ld. Ar ""थ"कीओरसे/Respondent By : Shri B. Srinivas Kumar (Cit) – Ld. Dr सुनवाईकीतारीख/Date Of Hearing : 10-07-2025 घोषणाकीतारीख /Date Of Pronouncement : 21-08-2025 आदेश / O R D E R Manoj Kumar Aggarwal () Aforesaid Appeal By Revenue For Assessment Year (Ay) 2016- 1. 17 Arises Out Of An Order Of Ld. Commissioner Of Income Tax

Capital Gains (LTCG) of Rs.482.86 Lacs on sale of various scrips including these two scrips and claimed the resultant gains to be exempt

SHRI NIRVAIR SINGH,AMRITSAR vs. INCOME TAX OFFICER WARD-4(3), AMRITSAR

In the result, the appeal filed by the assessee is allowed for statistical purposes

Bench: Sh. Manoj Kumar Aggarwal & Sh. Udayan Dasgupta

gains arising on sale of agricultural lands (treated as capital assets), against which the assessee has claimed exemption u/s 54B on account