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 Gain. The action of AO in making additions u/s 69A of the Act and disallowing the claim of LTCG being exempt u/s 10(38) is fully justified. In view thereof, addition of Rs. 2,11,81,016/- made by the AO is upheld Accordingly, these grounds of appeal are dismissed.” 9. Now the assessee is in appeal before

SHRI RANJEET SINGH,BATHINDA vs. INCOME TAX OFFICER WARD-1 (1), BATHINDA

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

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

section 96 of RFCTLARR Act, 2013 cannot be given to the appellant from Long Term Capital Gains, arising from Compulsory Acquisition of Land under National Highway Act, 1956, while ignoring the contention of the assessee that the CIT(A) NFAC has allowed the exemption, on identical facts, in the case of Jaswinder Kaur Sahni, Bathinda; that ignored the contention

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

12. However, the disclosure has been made on the basis of the estimated market value of the assets instead of the costs. He further submitted that none of the properties has been sold or transferred and as such no profits or gains has arised from 8 I.T.A. No. 287/Asr/2025 Assessment Year: 2017-18 any capital assets during the year under

INCOME TAX OFFICER WARD-2 (2), MUKTSAR vs. AJAIB SINGH, VILLAGE BHARU

In the result, the appeal of the revenue is dismissed

Bench: Sh. Udayan Dasgupta & Sh. Krinwant Sahay(Hybrid Hearing) I.T.A. No. 354/Asr/2024 Assessment Year: 2012-13

capital gain arising out of transfer of land, being used for agricultural purposes in the two years immediately preceding the date on which the transfer took place, is utilised for purchase of any other land for being used for agricultural purposes then the Assessee is entitled to benefit of deduction of the amount so invested. The Assessing Officer’s interpretation

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

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

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

12. We have heard both the sides, perused the record, Hon’ble High Court Judgement, impugned orders, and case law cites before us.The Hon’ble High Court of Jammu and Kashmir vide its Judgement delivered on 14.07.2017 has remitted the matter back to the Tribunal vide para 5 by observing that it is remitting the matter with regard

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

12. We have heard both the sides, perused the record, Hon’ble High Court Judgement, impugned orders, and case law cites before us.The Hon’ble High Court of Jammu and Kashmir vide its Judgement delivered on 14.07.2017 has remitted the matter back to the Tribunal vide para 5 by observing that it is remitting the matter with regard

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

section 10 deals with deductions and clause (37) thereof deals with capital gains arising from transfer of agricultural land and it nowhere provides as to what is to be included under the head ‘Capital gains.’ The SLP has been dismissed by the Hon’ble Apex Court. Thus, interest received on compensation or enhanced compensation was to be treated as income

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

In the result, the appeal filed by assessee is allowed

Capital gains - Special\nprovision for computation of full value consideration (Revision) - Assessee had filed its\nreturn and same was processed under section 143(1) Subsequently, Principal\nCommissioner invoked revision under section 263 on ground that a land was sold by\nassessee to an entity below value adopted by concerned authority for levy of stamp duty,\nand therefore, there was under

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 GAINS NOT LEVIABLE- INCOME TAX ACT, 1961, ss 2(14), 45 8.1 The ld.AR for the assessee placed that the assessment of the deceased person is invalid and nullity. The ld. AO has made mistake not to consider the legal heir during proceeding of the assessment. The power of attorney holder Mr. Sunil Gupta was taken as legal heir

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 GAINS NOT LEVIABLE- INCOME TAX ACT, 1961, ss 2(14), 45 8.1 The ld.AR for the assessee placed that the assessment of the deceased person is invalid and nullity. The ld. AO has made mistake not to consider the legal heir during proceeding of the assessment. The power of attorney holder Mr. Sunil Gupta was taken as legal heir

SMT. DHANWANTI DEVI (DECEASED),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 GAINS NOT LEVIABLE- INCOME TAX ACT, 1961, ss 2(14), 45 8.1 The ld.AR for the assessee placed that the assessment of the deceased person is invalid and nullity. The ld. AO has made mistake not to consider the legal heir during proceeding of the assessment. The power of attorney holder Mr. Sunil Gupta was taken as legal heir

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

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

12. The Ld. AR argued that provisions of section 10B and 80IB are provided under the act with specific purpose and with good intention to provide benefit to the business entrepreneur. He contended that as per the provisions of section10B(1) a deduction of such profits and gains as are derived by a hundred percent export-oriented undertaking from

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

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

12. The Ld. AR argued that provisions of section 10B and 80IB are provided under the act with specific purpose and with good intention to provide benefit to the business entrepreneur. He contended that as per the provisions of section10B(1) a deduction of such profits and gains as are derived by a hundred percent export-oriented undertaking from

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

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

12. The Ld. AR argued that provisions of section 10B and 80IB are provided under the act with specific purpose and with good intention to provide benefit to the business entrepreneur. He contended that as per the provisions of section10B(1) a deduction of such profits and gains as are derived by a hundred percent export-oriented undertaking from

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

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

12. The Ld. AR argued that provisions of section 10B and 80IB are provided under the act with specific purpose and with good intention to provide benefit to the business entrepreneur. He contended that as per the provisions of section10B(1) a deduction of such profits and gains as are derived by a hundred percent export-oriented undertaking from

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

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

12. The Ld. AR argued that provisions of section 10B and 80IB are provided under the act with specific purpose and with good intention to provide benefit to the business entrepreneur. He contended that as per the provisions of section10B(1) a deduction of such profits and gains as are derived by a hundred percent export-oriented undertaking from