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

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

49 of the 1908 Act have been amended clarifying that unless the document containing contract to transfer for consideration of any immovable property for the purpose of section 53A of 1882 Act is registered, it shall not have effect for purposes of section 53A of the 1882 Act. (Para 21]" The jurisdictional High Court of Punjab & Haryana has clearly upheld

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 250(4) for verification. The additional evidence can be accepted by the ld. CIT(A) by executing powerasfollowed Rule 46A. The ld. CIT(A) has accepted the additional evidence as per Rule 46A(1)(b) & (c). About the observation of the ld CIT(A), the ld DR had not made comment. But only issue is the additional evidence should

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 250(4) for verification. The additional evidence can be accepted by the ld. CIT(A) by executing powerasfollowed Rule 46A. The ld. CIT(A) has accepted the additional evidence as per Rule 46A(1)(b) & (c). About the observation of the ld CIT(A), the ld DR had not made comment. But only issue is the additional evidence should

INCOME TAX OFFICER, FEROZEPUR vs. MS.JATIN AGRO, FORT ROAD

In the result, the appeal of the revenue is dismissed

Bench: Sh. Manoj Kumar Aggarwal & Sh. Udayan Dasgupta(Physical Hearing) I.T.A. No. 103 & 104/Asr/2024 Assessment Years: 2014-15 & 2017-18 Ito, Ward-3(1), Vs. M/S Jatin Agro Fort Road, Ferozepur. 152-P, Ferozepur. [Pan:-Aarpm5393F] (Appellant) (Respondent) Sh. Ashray Sarna, Ca Appellant By Respondent By Sh. Sunil Gautam, Cit. Dr

gain from the business within the meaning of section 28(1) of the Act , because in the instant case, the presence of business activity is totally absent. 7.1 The Ld. DR further submitted that in the instant case, PUNGRAIN has also treated the amount paid to the assessee in the nature of rent and has deducted TDS under the provisions

INCOME TAX OFFICER, WARD-3(1),FEROZEPUR, FEROZEPUR vs. MS.JATIN AGRO, FORT ROAD

In the result, the appeal of the revenue is dismissed

Bench: Sh. Manoj Kumar Aggarwal & Sh. Udayan Dasgupta(Physical Hearing) I.T.A. No. 103 & 104/Asr/2024 Assessment Years: 2014-15 & 2017-18 Ito, Ward-3(1), Vs. M/S Jatin Agro Fort Road, Ferozepur. 152-P, Ferozepur. [Pan:-Aarpm5393F] (Appellant) (Respondent) Sh. Ashray Sarna, Ca Appellant By Respondent By Sh. Sunil Gautam, Cit. Dr

gain from the business within the meaning of section 28(1) of the Act , because in the instant case, the presence of business activity is totally absent. 7.1 The Ld. DR further submitted that in the instant case, PUNGRAIN has also treated the amount paid to the assessee in the nature of rent and has deducted TDS under the provisions

ATC LOGISTICAL SOLUTIONS PRIVATE LIMITED ,DELHI vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1, AMRITSAR

In the result, appeal of the assessee ITA No

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

capital expenditure33 or personal expenses of the assessee), laid out or expended wholly and exclusively33 for the purposes of the business33 or profession shall be allowed in computing the income chargeable under the head "Profits and gains of business or profession". 34[35[Explanation 1.]—For the removal of doubts, it is hereby declared that any expenditure incurred

M/S. SATIA INDUSTRIES LIMITED,MUKTSAR vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1, BATHINDA

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

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

gain and it is not subjected to tax under any head of income and it is not liable for tax in terms of section 2(24),28,45 & 56 of the Income Tax Act, 1961. [The taxability of Carbon Credits stands changed w.e.f. AY 2018-19] I.T.A. No.193/Asr/2022 48 Assessment Year: 2018-19 c) Further the credits under

SMT. SATVIR KAUR W/O SH. SHINDER SINGH,FEROZEPUR vs. PRINCIPAL COMMISSIONER OF INCOME TAX-1, AMRITSAR

In the result, the appeal of the assessee is allowed

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

Capital Gain, exemption u/s 10(36) of the Act, deduction u/s 57 of the Act and unsecured loans and the assessees furnished all the relevant documents which were examined by the AO who has taken a possible view. Therefore, it is our considered view that there was a due application of mind on the part

SATIA INDUSTRIES LIMITED,MUKTSAR, PUNJAB vs. DCIT, ACIT CIRCLE 1, BATHINDA

In the result, the appeal is partly allowed

Bench: Shri Udayan Das Gupta & Shri Krinwant Sahayआयकरअपीलसं./Ita No. 527/Asr/2024 िनधा"रणवष" / Assessment Year : 2020-21

gains from infrastructure undertakings - Assessment year 2003-04 - Assessee claimed deduction under section 80-IA from its captive power plant unit - Assessing Officer allowed assessee's claim - On appeal, Commissioner (Appeals) reduced amount of deduction for following reasons: firstly, assessee had taken into account electricity tax levied by State Government while 527-Asr-2024 Satia Industries, Muktsar 40 working

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

capital gain tax, Assessing Officer erred in treating said deposit as unexplained investment of assessee [In favour of assessee] e) 2017] 83 taxmann.com 246 (Mumbai - Trib.) IN THE ITAT MUMBAI BENCH ' J'Jaspal Singh Sehgal v. Income-tax Officer WD 21(2)(1), Mumbai* Section 68 of the Income-tax Act, 1961 - Cash credit (Cash) - Assessment year 2009-10 - Where

THE DHAMAI COOPERATIVE AGRICULTURE SERVICE SOCIETY LIMITED,HOSHIARPUR vs. INCOME TAX OFFICER WARD, HOSHIARPUR

In the result, appeal of the assessee ITA No

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjeei.T.A. No.238/Asr/2023 Assessment Year: 2020-21

gains, was not immediately required by the assessee for lending money to the members, as there were no takers. Therefore, they had deposited the money in a bank so as to earn interest. The said interest income is attributable to carrying on the business of banking and therefore it is liable to be deducted in terms of Section

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

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