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

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

SMT. INDERMEET BAINS W/O SH. D.S. BAINS,BATHINDA vs. PR. COMMISSIONER OF INCOME TAX , BATHINDA

The appeal of the assessee is disposed of in the term indicated as above

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

12,75,000/- to Sh. Kamal Singh, Sh. Ranjeet Singh and Sh. Rabir Singh, H.No.407, Guru Teg Bahadur Nagar, Jalalabad. Thus, the capital gain on the sale of this land comes at Rs. 2,90,04,020/-. However, the capital on sale of land was claimed exempt stating the sale of agriculture land. As per report of State Govt

ESTATE OF SH. JAGIR SINGH BHULLAR,AMRITSAR. vs. THE INCOME TAX OFFICER, TARN TARAN

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

Bench: Shri N.K. Choudhry, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita Nos.306/Asr/2014 & 591/Asr/2015 ("नधा"रणवष" / Assessment Year: 2007-08) Estate Of Sh. Jagir Singh Bhullar Vs. Income Tax Officer, Through S. Jasbir—Singh Ward-1(3), Bhullar, Tarn Taran, E-250 Ranjit Avenue, Amritsar, Punjab. Punjab.

section 53A of Transfer of Property Act. 8. That Ld AO has misapplied the facts and law in treating future and uncertain and unquantifiable benefits as so called consideration for alleged transfer and accordingly he has valued non existent property benefits for levy of capital gains. 9. That, the impugned agreement with the builders/ developers had been canceled

THE INCOME TAX OFFICER, TARN TARAN vs. ESTATE OF LATE SH. JAGIR SINGH BHULLAR, TARN TARAN

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

Bench: Shri N.K. Choudhry, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita Nos.306/Asr/2014 & 591/Asr/2015 ("नधा"रणवष" / Assessment Year: 2007-08) Estate Of Sh. Jagir Singh Bhullar Vs. Income Tax Officer, Through S. Jasbir—Singh Ward-1(3), Bhullar, Tarn Taran, E-250 Ranjit Avenue, Amritsar, Punjab. Punjab.

section 53A of Transfer of Property Act. 8. That Ld AO has misapplied the facts and law in treating future and uncertain and unquantifiable benefits as so called consideration for alleged transfer and accordingly he has valued non existent property benefits for levy of capital gains. 9. That, the impugned agreement with the builders/ developers had been canceled

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

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

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

section 45(3) of the IT Act, 1961 and assessed the long term capital gain amounting to Rs. 3,20,80,520/- in the hands of the assessee vide assessment order passed u/s 143(3) dated 20/12/2017. 3. The A.O. relied solely upon the sale deed dated 15.07.1981 for computing the FMV of the land

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

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

section 45(3) of the IT Act, 1961 and assessed the long term capital gain amounting to Rs. 3,20,80,520/- in the hands of the assessee vide assessment order passed u/s 143(3) dated 20/12/2017. 3. The A.O. relied solely upon the sale deed dated 15.07.1981 for computing the FMV of the land

SH. RAGHUNATH SAHAI PURI(DECD),PATHANKOT vs. THE DEPTY COMMISSIONER OF INCOME TAX, PATHANKOT

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

Bench: Sh. N. K. Choudhry & Sh. O. P. Meenai.T.A. No. 633/Asr/2014 Assessment Year: 2007-08

section 271(1)(c) of the Act. 8. By virtue of the impugned order dated 04.12.2013, the ld. CIT(A) confirmed the levy of penalty on the assessee, observing, inter-alia, as follows: “Briefly noticed, the facts of the case are that the long term capital gain relating to transfer of land by the M/s. Defence Services Co-op. House

INCOME TAX OFFICER, WARD-2 , PHAGWARA vs. SH. SUCHA SINGH, PHILLAUR

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

Bench: Shrilaliet Kumar & Dr. Mitha Lal Meena

capital gain by assessee A.O. asked Tehsildar Goraya to furnish. 1. Whether acquired Land of Sucha Singh in Municipal limit if not how far away. 2. Furnish KhasraGirdawari of acquired Land for the year 2008-2009 to 2012-2013 (Copy of letter enclosed as per annexure-4). 9. In response to summons by A.O., Tehsildar sent reply on 5/12/2016

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

SH. SARWAN SINGH PHILLAUR,JALANDHAR vs. THE INCOME TAX OFFICER, JALANDHAR

In the result, the appeal of the Revenue is dismissed and appeal filed by the assessee stands allowed

Bench: Sh. N. S. Saini & Sh. N. K. Choudhryi. T. A. No. 562/(Asr)/2015 Assessment Year: 2007-08

Capital Gains of Rs. 33 lacs is upheld. 8. Being aggrieved by the said order of the CIT(A), both the assessee and Revenue is in appeal before us. 9. Before us, Ld. AR of the assessee filed copy of the notice dated issued u/s 274 of the Act. We find that the notice dated 22.12.2010, issued u/s 274 read

THE INCOME TAX OFFICER, JALANDHAR vs. SH. SARWAN SINGH PHILLAUR, JALANDHAR

In the result, the appeal of the Revenue is dismissed and appeal filed by the assessee stands allowed

Bench: Sh. N. S. Saini & Sh. N. K. Choudhryi. T. A. No. 562/(Asr)/2015 Assessment Year: 2007-08

Capital Gains of Rs. 33 lacs is upheld. 8. Being aggrieved by the said order of the CIT(A), both the assessee and Revenue is in appeal before us. 9. Before us, Ld. AR of the assessee filed copy of the notice dated issued u/s 274 of the Act. We find that the notice dated 22.12.2010, issued u/s 274 read

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

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