SHRI NAROTAM SINGH,MANSA vs. INCOME TAX OFFICER WARD -1(4), MANSA

In the result, both the appeals of the assessees are allowed

Gains by invoking the provision of section 45(3) of the Income Tax Act, 1961 because no registered sale deed was executed to transfer the land to the partnership as capital contribution Et It is settled principle of law that no immovable property can be transferred without execution Et registration of a registered sale deed. 8. That the adoption

SHRI TARLOCHAN SINGH,MANSA vs. INCOME TAX OFFICER WARD-1(4), MANSA

In the result, both the appeals of the assessees are allowed

Gains by invoking the provision of section 45(3) of the Income Tax Act, 1961 because no registered sale deed was executed to transfer the land to the partnership as capital contribution Et It is settled principle of law that no immovable property can be transferred without execution Et registration of a registered sale deed. 8. That the adoption

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. 10

INCOME TAX OFFICER, INCOME TAX OFFICE vs. VIKAS MEHRA, THE MALL

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

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

capital gains is not a charging section under the IT Act and there is sale either. In view of that, there has been an incorrect interpretation of law by the AO and the addition of Rs.2,46,99,200/- as income is not sustained and is therefore deleted. 6.1 In view of these facts, I am of the opinion that

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

10% of the total expenses claimed should have been allowed. The adminssibility of expenditure claimed by the assessee needs to be examined by the assessing officer. The order of the AO is thus erroneous and prejudicial to the interest of the revenue.” 30. Referring to the above Ld.DR contended that the Ld. Pr.CIT had countered the justification of the assessee

BHUPENDRA FLOUR MILLS PVT LTD,BATHINDA vs. ITO, WARD 1(1), BATHINDA, BATHINDA

The appeal stands partly allowed in terms of out above order

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Shri Udayandasgupta, Jm आयकरअपीलसं. / Ita No.54/Asr/2025 (िनधा"रणवष" / Assessment Year: 2017-18) M/S Bhupendra Flour Mills Pvt Ltd. Ito Ward - 1(1) बनाम/ Railway Road Central Revenue Building Bhatinda, Punjab – 151001 Civil Lines, Bhatinda Vs. Punjab - 151001 "ायीलेखासं./जीआइआरसं./Pan/Gir No. Aaccb-6192-P (अपीलाथ"/Appellant) : (" थ" / Respondent) अपीलाथ"कीओरसे/ Appellant By : Sh. Sudhir Sehgal (Advocate) - Ld. Ar " थ"कीओरसे/Respondent By : Sh. Farhat Khan (Cit) – Ld. Dr (Virtual) सुनवाईकीतारीख/Date Of Hearing : 05-02-2026 घोषणाकीतारीख /Date Of Pronouncement 20.02.2026 : आदेश / O R D E R

46,372/- which was claimed to be exempt by the assessee. However, by relying on various judicialdecisions, Ld. AO rejected the claim of the assessee and brought this amount to tax. The Ld. CIT(A) confirmed this addition against which the assessee is in further appeal before us. 3. It is admitted position by Ld. AR that this issue stand

SHRI JASBIR SINGH ,JALANDHAR vs. INCOME TAX OFFICER,WARD-I (2), JALANDHAR

In the result, the appeal of the assessee is allowed

Bench: Shri N.K. Choudhry, Jm & Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.426/Asr/2018 ("नधा"रणवष" / Assessment Year: 2011-12)

10, Green Field Kapurthala Road, Jalandhar. The property was sold for Rs.1,21,00,000/- whereas value as per stamp duty valuation was to the tune of Rs.3,46,00,000/-. Therefore, AO made addition on account of undisclosed long term capital gain(LTCG) to the tune of Rs.2,25,00,000/- (Rs.3,46,00,000- Rs.1

THE ASSTT. COMMISSIONER OF INCOME TAX, JALANDHAR vs. M/S BROADWAY OVERSEAS LTD., JALANDHAR

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

gains derived from eligible industrial undertaking from any business. Whereas, under section 10B the deduction has been provided on profits of the business of the undertaking by a hundred percent export- oriented undertaking. Thus, the Judgement of Hon’ble Supreme Court in the cases of Liberty India (supra) and Saraf Exports (supra) relied by the Ld. DR are distinguishable

THE ASSTT. COMMISSIONER OF INCOME TAX, JALANDHAR vs. M/S BROADWAY OVERSEAS LTD., JALANDHAR

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

gains derived from eligible industrial undertaking from any business. Whereas, under section 10B the deduction has been provided on profits of the business of the undertaking by a hundred percent export- oriented undertaking. Thus, the Judgement of Hon’ble Supreme Court in the cases of Liberty India (supra) and Saraf Exports (supra) relied by the Ld. DR are distinguishable

THE ASSTT. COMMISSIONER OF INCOME TAX, JALANDHAR vs. M/S BROADWAY OVERSEAS LTD., JALANDHAR

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

gains derived from eligible industrial undertaking from any business. Whereas, under section 10B the deduction has been provided on profits of the business of the undertaking by a hundred percent export- oriented undertaking. Thus, the Judgement of Hon’ble Supreme Court in the cases of Liberty India (supra) and Saraf Exports (supra) relied by the Ld. DR are distinguishable

THE ASSISTANT COMMISSIONER OF INCOME TAX, JALANDHAR vs. M/S BROADWAYS OVERSEAS LTD, JALANDHAR

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

gains derived from eligible industrial undertaking from any business. Whereas, under section 10B the deduction has been provided on profits of the business of the undertaking by a hundred percent export- oriented undertaking. Thus, the Judgement of Hon’ble Supreme Court in the cases of Liberty India (supra) and Saraf Exports (supra) relied by the Ld. DR are distinguishable

BRODAWAYS OVERSEAS LIMITED,JALANDHAR vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1, JALANDHAR

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

gains derived from eligible industrial undertaking from any business. Whereas, under section 10B the deduction has been provided on profits of the business of the undertaking by a hundred percent export- oriented undertaking. Thus, the Judgement of Hon’ble Supreme Court in the cases of Liberty India (supra) and Saraf Exports (supra) relied by the Ld. DR are distinguishable

THE ASSTT. COMMISSIONER OF INCOME TAX, JALANDHAR vs. M/S BROADWAYS OVERSEAS LTD, JALANDHAR

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

gains derived from eligible industrial undertaking from any business. Whereas, under section 10B the deduction has been provided on profits of the business of the undertaking by a hundred percent export- oriented undertaking. Thus, the Judgement of Hon’ble Supreme Court in the cases of Liberty India (supra) and Saraf Exports (supra) relied by the Ld. DR are distinguishable

THE ASSTT. COMMISSIONER OF INCOME TAX, JALANDHAR vs. M/S BROADWAY OVERSEAS LTD., JALANDHAR

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

gains derived from eligible industrial undertaking from any business. Whereas, under section 10B the deduction has been provided on profits of the business of the undertaking by a hundred percent export- oriented undertaking. Thus, the Judgement of Hon’ble Supreme Court in the cases of Liberty India (supra) and Saraf Exports (supra) relied by the Ld. DR are distinguishable

M/S G G OILS & FATS PVT.LTD ,BATHINDA vs. DEPUTY COMMISSIONER OF INCOME TAX, BATHINDA

In the result, the assessee’s appeal is dismissed

Bench: Sh. Sanjay Arora & Sh. N. K. Choudhryi. T. A. No. 508/Asr/2017 Assessment Year: 2014-15

10% of the voting power therein; or b) a loan or advance is given by such a company to any concern in which such shareholder has substantial interest (explained as entitling him to a beneficial interest in 20% of its income); or c) any payment is made by such a company on behalf of, or for the benefit of, such

DR. HARPRIT SINGH ,JALANDHAR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-II, JALANDHAR

In the result, the appeal of the assessee stands allowed

Bench: Shri N.K. Choudhry & Shri O.P.Meenaआ.अ.संसंसंसं././././I.T.A No.195/Asr/2018 िनधा"रणवष"/A.Y.:2011-12 िनधा"रणवष" िनधा"रणवष" िनधा"रणवष" Dr. Harprit Singh, C/O M/S. Vs. Deputy Commissioner Of Orthonova Hospital, Near Nari Income-Tax, Niketan, Nakoddar Road, Central Circle –Ii, Jalandhar Jalandhar(Pb) (Pb) Pan: Acmps 7237 F अपीलाथ"Appellant अपीलाथ" ""यथ"/Respondent ""यथ" अपीलाथ" अपीलाथ" ""यथ" ""यथ"

46,57,850. The assessment was reopened u/s.147 and notice under section 148 of the Act was issued and served on 31.03.2015 on the ground that the assessee could not explain the cash deposits in his saving bank account with Axis Bank in reply to notice under section 133(6) issued to him. The said bank account was opened

SMT. ANURADHA MAHAJAN,,JAMMU vs. ASSISTANT COMMISSIONER OF INCOME TAX, JAMMU

In the result, all the appeals of the assessees bearing ITA Nos

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

capital gain is chargeable on the compulsory acquisition of these lands because these are agricultural land situated outside the municipal limits of Rajouri Town. All these lands are situated in villages near around Rajouri. I.T.A. Nos. 75 to 77/Asr/2006 Assessment Year.: 1988-89 7 2. Particulars of Land Acquired in the case of three assesses are given as under: Name

SH. SUNIL GUPTA,JAMMU vs. ASSISTANT COMMISSIONER OF INCOME TAX, JAMMU

In the result, all the appeals of the assessees bearing ITA Nos

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

capital gain is chargeable on the compulsory acquisition of these lands because these are agricultural land situated outside the municipal limits of Rajouri Town. All these lands are situated in villages near around Rajouri. I.T.A. Nos. 75 to 77/Asr/2006 Assessment Year.: 1988-89 7 2. Particulars of Land Acquired in the case of three assesses are given as under: Name