THE DY. COMMISSIONER INCOME-TAX, JAMMU vs. M/S. HORIZON BUILDCON PVT. LTD,, JAMMU

In the result, the appeals of the Revenue in I

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

section 69B of the Act. Dy. CIT v. Horizon Buildcon Pvt. Ltd. When the assessee further challenged the same before the Tribunal, it quashed and set aside the order of the Assessing Officer and that of CIT(Appeals) and held the entire addition to have been made on the basis of presumptions and surmises by holding thus: - 14. From

THE DY. COMMISSIONER INCOME-TAX, JAMMU vs. M/S. HORIZON BUILDCON PVT. LTD,, JAMMU

In the result, the appeals of the Revenue in I

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

section 69B of the Act. Dy. CIT v. Horizon Buildcon Pvt. Ltd. When the assessee further challenged the same before the Tribunal, it quashed and set aside the order of the Assessing Officer and that of CIT(Appeals) and held the entire addition to have been made on the basis of presumptions and surmises by holding thus: - 14. From

INCOME TAX OFFICER, WARD-1, FARIDKOT, BSNL BUILDING vs. M/S VOHRA SOLVEX PVT. LTD, SADIQ ROAD

In the result, C.O. filed by the assessee is allowed

Bench: Sh. Udayan Dasgupta & Sh. Krinwant Sahay

131- No enquiry in this regard was made and no evidence generally was made available by Assessing Officer-Whether since entire order of Assessing Officer was based merely on statement of Director of assessee without summoning or adducing additional/supplementary evidence of any other person corroborating allegation regarding bogus poyments made by assessee, Tribunal was justified in deleting impugned addition - Held

M/S BLUE CITY TOWNSHIP & COLONIZERS,AMRITSAR. vs. THE INCOME TAX OFFICER,, AMRITSAR.

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

Capital Gains' as income of the previous year when the transfer took place, i.e., 1964. Therefore, the assessee was liable to pay additional tax on the income that escaped assessment.” 13. Per contra, the ld. Addl. CIT-DR submitted that it was a case of deemed escapement of income as per clause (b) to (Explanation

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

section 263 be quashed, annulled and cancelled in the interest of justice, equity and fair-play. GOA:- 14:- Vide ground of appeal No.14, it is humbly prayed that in the event of any adversity arising out of the brief written submission besides judgement set, I.T.A. No. 425/Asr/2019 19 Assessment Year: 2014-15 assessee may kindly be afforded an effective opportunity

ASSISTANT COMMISSIONER OF INCOME TAX (CENTRAL CIRCLE), JAMMU vs. ANITA KAPAHI, JAMMU

In the result, the appeal of the revenue is dismissed being devoid of merits

Bench: Sh. Udayan Dasgupta & Sh. Krinwant Sahay

capital gains , which was ultimately assessed , with an addition of Rs.2.05 cores u/s 69 of the Act, on the basis of suspicion of alleged on money payment relating to purchase of a plot of land , information flowing from impounded document Annexure A – 3. 4. The assessee’s husband Mr. Anil Kapahi and her two sons Mr. Akhil Kapahi

ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-3, SRINAGAR vs. M/S TRUMBO CEMENT INDUSTRIES PRIVATE LIMITED , SRINAGAR

In the result, the Ground no-1 of the Revenue for ITA No

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

section 68 of the I.T Act, 1961, the AO has to examine three ingredients i.e., identity, genuineness of transactions and creditworthiness of the parties. In this factual and legal background, if we examine, the present case in the light of various evidences filed by the assessee, in order to prove credit found in the form of share capital money

ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-3, SRINAGAR vs. M/S TRUMBO CEMENT INDUSTRIES PRIVATE LIMITED, SRINAGAR

In the result, the Ground no-1 of the Revenue for ITA No

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

section 68 of the I.T Act, 1961, the AO has to examine three ingredients i.e., identity, genuineness of transactions and creditworthiness of the parties. In this factual and legal background, if we examine, the present case in the light of various evidences filed by the assessee, in order to prove credit found in the form of share capital money

M/S GCA MARKETING PVT. LTD,BATHINDA vs. A.C.I.T , CIRCLE-1,, BATHINDA

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

section 148 of the I. T. Act. As such, assessment framed in response to such a notice is void abinitio. The same be cancelled". 2. The learned CIT(A) has erred in law as well as on the facts of the case in confirming the gross receipts of Rs. 39,03,62,282/- as income of the assessee company from

M/S CGA MARKETING PVT. LTD,BATHINDA vs. ASST. COMM. OF INCOME TAX, CIRCLE - 1, BATHINDA

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

section 148 of the I. T. Act. As such, assessment framed in response to such a notice is void abinitio. The same be cancelled". 2. The learned CIT(A) has erred in law as well as on the facts of the case in confirming the gross receipts of Rs. 39,03,62,282/- as income of the assessee company from

M/S GCA MARKETING PVT. LTD,BATHINDA vs. A.C.I.T , CIRCLE-1,, BATHINDA

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

section 148 of the I. T. Act. As such, assessment framed in response to such a notice is void abinitio. The same be cancelled". 2. The learned CIT(A) has erred in law as well as on the facts of the case in confirming the gross receipts of Rs. 39,03,62,282/- as income of the assessee company from

M/S GCA MARKETING PVT. LTD,BATHINDA vs. A.C.I.T , CIRCLE-1,, BATHINDA

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

section 148 of the I. T. Act. As such, assessment framed in response to such a notice is void abinitio. The same be cancelled". 2. The learned CIT(A) has erred in law as well as on the facts of the case in confirming the gross receipts of Rs. 39,03,62,282/- as income of the assessee company from

M/S GCA MARKETING PVT. LTD,BATHINDA vs. A.C.I.T , CIRCLE-1,, BATHINDA

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

section 148 of the I. T. Act. As such, assessment framed in response to such a notice is void abinitio. The same be cancelled". 2. The learned CIT(A) has erred in law as well as on the facts of the case in confirming the gross receipts of Rs. 39,03,62,282/- as income of the assessee company from

M/S CGA MARKETING PVT. LTD,BATHINDA vs. ASST. COMM. OF INCOME TAX, CIRCLE - 1, BATHINDA

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

section 148 of the I. T. Act. As such, assessment framed in response to such a notice is void abinitio. The same be cancelled". 2. The learned CIT(A) has erred in law as well as on the facts of the case in confirming the gross receipts of Rs. 39,03,62,282/- as income of the assessee company from