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

In the result, the appeal filed by assessee is allowed

145 taxmann.com 590 (Calcutta) HIGH COURT OF CALCUTTA Principal\nCommissioner of Income-tax v.ReetaLakhmani*\nSection 10(38), read with section 263, of the Income-tax Act, 1961 - Capital gains

INCOME TAX OFFICER WARD-3(5), JALANDHAR vs. SHRI NITIN PAL SINGH , JALANDHAR

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

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

section 145(3) of the Act. Conclusion drawn by learned CIT(A) that “there is no infirmity in the proceedings adopted by AssessingOfficer and assessment order passed by Assessing Officer u/s 143(3) of the Act is valid” is bad in law & as such illegal. 2. (a) That on the facts and circumstances of the case, Learned Commissioner of Income

SHRI. NITIN PAL SINGH ,JALANDHAR vs. INCOME TAX OFFICER WARD-3(3), JALANDHAR

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

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

section 145(3) of the Act. Conclusion drawn by learned CIT(A) that “there is no infirmity in the proceedings adopted by AssessingOfficer and assessment order passed by Assessing Officer u/s 143(3) of the Act is valid” is bad in law & as such illegal. 2. (a) That on the facts and circumstances of the case, Learned Commissioner of Income

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

145 taxmann.com 546 (Bombay) INCOME TAX: Where Assessing Officer made addition by disallowing expenses on purchases on ground that an information was received from sales tax department that assessee was beneficiary of accommodation entries on account of bogus purchases, since Assessing Officer had not disputed corresponding sales transactions, purchases also could not be bogus and, thus, impugned addition made

THE DY. COMMISSIONER OF INCOME-TAX,, JAMMU vs. M/S. CONTINENTAL CONSTRUCTION CO,, JAMMU ( J&K)

In the result, the appeal filed by the assessee is allowed as well as the appeal filed the Revenue Department is dismissed and Cross Objection also stands disposed off

Bench: Sh. Sanjay Arora & Sh. N.K.Choudhryita No.38(Asr)/2013 Assessment Year:2009-10

gains of business shall be computed in accordance with the provisions contained in Sections 30 to 43D. Section 40 provides for certain disallowances in certain cases notwithstanding that those amounts are allowed generally under other sections. The computation under Section 29 is to be made under section 145 on the basis of the books regularly maintained by the asses

M/S. CONTINENTAL CONSTRUCTION CO.,,JAMMU vs. THE DY. COMMISSIONER OF INCOME-TAX (HQRS), JAMMU

In the result, the appeal filed by the assessee is allowed as well as the appeal filed the Revenue Department is dismissed and Cross Objection also stands disposed off

Bench: Sh. Sanjay Arora & Sh. N.K.Choudhryita No.38(Asr)/2013 Assessment Year:2009-10

gains of business shall be computed in accordance with the provisions contained in Sections 30 to 43D. Section 40 provides for certain disallowances in certain cases notwithstanding that those amounts are allowed generally under other sections. The computation under Section 29 is to be made under section 145 on the basis of the books regularly maintained by the asses

M/S. GULZAR SINGH GURBACHAN SINGH,DISTT.BATHINDA vs. THE INCOME-TAX OFFICER, BATHINDA

In the result, the assessee’s appeals are dismissed

Bench: Sh. Sanjay Arorai.T.A. Nos. 146&147/Asr/2014 Assessment Years: 2007-08&2008-09

capital account balances in view of section 184(5) of the Act, which reads as under: ‘CHAPTER XVI A. – Assessment of firms Assessment as a firm. 184. (1) A firm shall be assessed as a firm ……. (2) to (4) …… (5) Notwithstanding anything contained in any other provision of this Act, where, in respect of any assessment year, there

M/S. GULZAR SINGH GURBACHAN SINGH,DISTT.BATHINDA vs. THE INCOME-TAX OFFICER, BATHINDA

In the result, the assessee’s appeals are dismissed

Bench: Sh. Sanjay Arorai.T.A. Nos. 146&147/Asr/2014 Assessment Years: 2007-08&2008-09

capital account balances in view of section 184(5) of the Act, which reads as under: ‘CHAPTER XVI A. – Assessment of firms Assessment as a firm. 184. (1) A firm shall be assessed as a firm ……. (2) to (4) …… (5) Notwithstanding anything contained in any other provision of this Act, where, in respect of any assessment year, there

SHRI OM PARKASH LEGAL HEIAR SMT PUSHPA VERMA,JALANDHAR vs. INCOME TAX OFFICER WARD-1(3), JALANDHAR

In the result, the assessee’s appeal is dismissed

Bench: Sh. Sanjay Arorai.T.A. No. 756/Asr/2017 Assessment Year: 2014-15

145(3) of the Act. The same ratio ought to have been applied by him for the impugned additions also. Further, observing, upon a reading of the impugned order during hearing, that the ld. CIT(A) justifies the impugned addition u/s. 41(1) in case of rejection of accounts, as being in contradistinction to an addition

SHRI MOHD MANZOOR,RAJOURI vs. INCOME TAX OFFICER WARD -2 (3), JAMMU

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

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

145 J&K Bank 0145 02.08.2016 16500.00 Page 26 and 17 Therefore, the Ld. CIT(A) has erred in confirming the order of the AO ignoring the fact that credits to the tune of Rs. 15,062,500/- were on account of contra entries as explained above. As such, the CIT(A) has erred in applying 8% on alleged credits

THE INCOME TAX OFFICER, AMRITSAR. vs. SH. SHIV RAJ SINGH BAWA, AMRITSAR.

In the result, the Revenue’s appeal is allowed and the assessee’s CO, dismissed

Bench: Sh. Sanjay Arora & Sh. N. K. Choudhryi.T.A. No. 407/Asr/2016 Assessment Year: 2012-13

gain, undertaken together. If the sale fell in dispute, and the matter is sub judice, that would not in any manner alter the assessee’s intent and object in acquiring the land, which in fact gets evident from its’ subsequent sale soon after. Why, the land could subsequently even be regarded as a capital asset, though, given the dispute which

M/S SANT BABA BHAG SINGH MEMORIAL CHARITABLE SOCIETY,JALANDHAR vs. D.C.I.T, CIRCLE - 1 (EXEMPTION), CHANDIGARH

In the result, the assessee’s appeal is partly allowed

Bench: Sh. Sanjay Arora & Sh. N. K. Choudhryi.T.A. No. 432/(Asr)/2017 Assessment Year: 2014-15

capital outlay. During the current year itself, it purchased fixed assets at Rs.471.77 lacs and repaid borrowings, meeting thus its’ contractual obligation/s in this regard, to the extent of Rs.180.97 lacs, i.e., at a total of Rs.652.74 lacs, which far exceeds the revenue (net income) generated at Rs.228.94 lacs during the year, i.e., even assuming the entire