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

1. That the order passed by the Hon'ble CIT(A) dated 31.05.2024 is against the law and facts of the case. 2. That having regard to the facts and circumstances of the case, Hon'ble CIT(A) has erred in law and on facts in confirming the action of Ld. AO in framing the impugned assessment order

MR.VISHAL BATRA,`LUDHIANA vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1, LUDHIANA

In the result, the appeal of the assessee is dismissed

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

1. That the Learned Commissioner of Income Tax (Appeals) has erred in law and facts of the Case by sustaining an addition amounting to Rs. 18,82,729/- under the head “Income from Short Term Capital Gains”. 2. That, out of the above amount of Rs. 18,82,729/-, the Learned Commissioner of Income Tax (Appeals) has erred

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

In the result, the appeal filed by assessee is allowed

gain\n(LTCG) to claim exemption under section 10 (38) was based on a proposal given by\nAssessing Officer, exercise of jurisdiction under section 263 was not justified - Held, yes\n[Paras 8 and 9] [In favour of assessee]\n27.\nThe Ld AR further argued on applicability of clause(a) of explanation 2 to\nsection 263 and relied upon

SH. GURBACHAN SINGH BRAR,MOGA vs. ITO, WARD - 1,, MOGA

Bench: : Shri Laliet Kumar & Dr. Mitha Lal Meena

132 of the Income Tax Act was conducted at the premises of M/s Godwin Group of Cases on 09.09.2010. During the course of search, certain documents pertaining to Assesse were found and the said documents were passed on to the Assessing Officer of the Assesse.On the basis of the information and after recording the satisfaction note, the case

SH. SANTOKH SINGH BRAR,MOGA vs. ITO, WARD - 2,, MOGA

Bench: : Shri Laliet Kumar & Dr. Mitha Lal Meena

132 of the Income Tax Act was conducted at the premises of M/s Godwin Group of Cases on 09.09.2010. During the course of search, certain documents pertaining to Assesse were found and the said documents were passed on to the Assessing Officer of the Assesse.On the basis of the information and after recording the satisfaction note, the case

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

1 & 2 of A-2 DNR which records various payment made to Sh. Surjit Singh and all of these payments have been found recorded in the books of account of the appellant and verified accordingly during remand proceedings by the Assessing Officer. 13. The Assessing Officer has further relied upon documents A-9 DNB-1 which reproduced various ikrarnamas, photo

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

1 & 2 of A-2 DNR which records various payment made to Sh. Surjit Singh and all of these payments have been found recorded in the books of account of the appellant and verified accordingly during remand proceedings by the Assessing Officer. 13. The Assessing Officer has further relied upon documents A-9 DNB-1 which reproduced various ikrarnamas, photo

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

1 & 2 of A-2 DNR which records various payment made to Sh. Surjit Singh and all of these payments have been found recorded in the books of account of the appellant and verified accordingly during remand proceedings by the Assessing Officer. 13. The Assessing Officer has further relied upon documents A-9 DNB-1 which reproduced various ikrarnamas, photo

SMT. GURJEET KAUR,JALANDHAR vs. INCOME TAX OFFICER, WARD- IV (2),, JALANDHAR

The appeal of the assessee is allowed in terms of our

Bench: Sh. Ravish Sood & Dr. M. L. Meena

section (4A) of Sec. 132 of the Act. As is discernible from the records, we find that the A.O in his ‘remand report’ that was filed in the course of the proceedings before the CIT(A), had fairly admitted that he had only received a copy of the “agreement to sell”, dated 25.02.2008 from the Dy. DIT (Inv.), Ludhiana

SMT. GURJEET KAUR,JALANDHAR vs. INCOME TAX OFFICER, WARD- IV (2),, JALANDHAR

The appeal of the assessee is allowed in terms of our

Bench: Sh. Ravish Sood & Dr. M. L. Meena

section (4A) of Sec. 132 of the Act. As is discernible from the records, we find that the A.O in his ‘remand report’ that was filed in the course of the proceedings before the CIT(A), had fairly admitted that he had only received a copy of the “agreement to sell”, dated 25.02.2008 from the Dy. DIT (Inv.), Ludhiana

SHRIMATI HARMOHINDER KAUR,JALANDHAR vs. DEPUTY COMMISSIONER OF INCOME TAX, OFFICER CENTRAL CIRCLE-II, JALANDHAR

In the result, the appeal filed by the assessee stands allowed

Bench: Sh. N.K.Choudhry & Dr. A.L.Sainiassessment Year: 2009-10

1,15,00,000/- was Rs.38,33,334/- (equal to l/3rd share) and the 'long term capital gain' was accordingly calculated at Rs.31,42,225/- as against Rs.2,92,224/- declared by the assessee. Hence an addition of Rs.28,50,001/- was made to the returned income of the assessee as 'Long Term Capital Gain'. The facts of the case

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 or loss. These share of M/s Kappac Pharma Ltd. resembled I.T.A. Nos.32 to 35/Asr/2019 15 A.Ys. 2014-15 & 2015-16 the character of Penny Stocks which has been discussed and investigated at length by Investigation Wing, Kolkata. The Kappac Pharma Ltd. even figures in the Appraisal report of the Investigation Wing, Kolkata giving detail of Bogus LTCG through

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 or loss. These share of M/s Kappac Pharma Ltd. resembled I.T.A. Nos.32 to 35/Asr/2019 15 A.Ys. 2014-15 & 2015-16 the character of Penny Stocks which has been discussed and investigated at length by Investigation Wing, Kolkata. The Kappac Pharma Ltd. even figures in the Appraisal report of the Investigation Wing, Kolkata giving detail of Bogus LTCG through

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 or loss. These share of M/s Kappac Pharma Ltd. resembled I.T.A. Nos.32 to 35/Asr/2019 15 A.Ys. 2014-15 & 2015-16 the character of Penny Stocks which has been discussed and investigated at length by Investigation Wing, Kolkata. The Kappac Pharma Ltd. even figures in the Appraisal report of the Investigation Wing, Kolkata giving detail of Bogus LTCG through

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 or loss. These share of M/s Kappac Pharma Ltd. resembled I.T.A. Nos.32 to 35/Asr/2019 15 A.Ys. 2014-15 & 2015-16 the character of Penny Stocks which has been discussed and investigated at length by Investigation Wing, Kolkata. The Kappac Pharma Ltd. even figures in the Appraisal report of the Investigation Wing, Kolkata giving detail of Bogus LTCG through

SHRI SIMERDEEP SINGH,JALANDHAR vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1, JALANDHAR

The appeal stand allowed in terms of our above order

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Udayan Das Gupta, Jm आयकरअपीलसं./ Ita No. 260/Asr/2022 (िनधा"रणवष" / Assessmentyear: 2016-17) Shri Simerdeep Singh Dcit बनाम/ Vs. H. No. 833 Urban Estate Phase-I Central Circle-1 Jalandhar- 144001. Jalandhar. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Abrps-8245-F (अपीलाथ"/Appellant) : (""थ" / Respondent) अपीलाथ"कीओरसे/Appellant By : S/Shri J. S. Bhasin (Advocate)& A. P. Singh (Ca) –Ld.Ars ""थ"कीओरसे/Respondentby : Ms. Vandana Vijay Mohite (Cit) – Ld. Dr सुनवाईकीतारीख/Date Of Hearing : 23-04-2025 घोषणाकीतारीख /Date Of Pronouncement : 06-06-2025 आदेश / O R D E R Manoj Kumar Aggarwal ()

1. Aforesaid appeal by assessee for Assessment Year (AY) 2016-17 arises out of an order of Ld. Commissioner of Income Tax (Appeals)-5, Ludhiana, [CIT(A)] dated 23-11-2022 in the matter of an assessment framed by Ld. Assessing Officer [AO] u/s 153A of the Act on 30-12- 2018. The assessee is aggrieved by computation of capital

SH. DIDAR SINGH S/O SH. PREM SINGH,KAPURTHALA vs. THE DY. COMMISSIONER OF INCOME TAX, KAPURTHALA

In the result, the assessee succeeds

Bench: Sh. Sanjay Arora & Sh. N.K.Choudhryita No.542(Asr)/2016 Assessment Year:2008-09

132 of the Act. Sub-section (4) thereof enables the authorities not only to rely upon the statement in the concerned proceedings but also in other proceedings that are pending, by the time the statement was recorded. 10. If the statement is not retracted, the same can constitute the sole basis for the authorities to pass an order of assessment

SHRI SALIL BHATIA,AMRITSAR vs. ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE, AMRITSAR

In the result, the appeal is allowed

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

capital gains on the sale of shares in the case of assessee. He contended that in view of the principle laid down by the Honorable Supreme Court of India, in the recent judgement, in the case of “PCIT, central-3 vs, Abhisar Buildwell Private Limited, [2023] 149, Texmann.com 399, no addition can be made by the AO, in the absence

GURU NANAK MILK PRODUCTS ,FEROZEPUR vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1, JALANDHAR

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

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

132 and also the survey was conducted u/s 133. The notice u/s 153C was issued. The assessee filed return and claimed the carry forward loss amount to Rs.1,59,20,750/- against the net profit amount to Rs.2,60,02,235/-. The loss was carry forwarded from the earlier assessment years 2012-13 to 2014-15. On verification