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

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

M/S SHANKAR RICE & GENERAL MILLS ,MOGA vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE, MOGA

In the result, the appeal of the assessee is dismissed

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

69B and 69C being treated separately, because such deemed income is not income from salary, house property, profits and gains of business or profession, or capital gains, nor is it income from "other sources" because the provisions of sections

THE INCOME TAX OFFICER, AMRITSAR. vs. SHRI BALJINDERR SINGH CHAHAL, AMRITSAR.

In the result, the appeal of revenue ITA No

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjeei.T.A. No.434/Asr/2016 Assessment Year: 2009-10

capital gain calculated by the revenue related to transaction amounting to Rs.85,90,000/-. The revenue claimed that both the amounts are not declared by the assessee in the total income during filing of return. Aggrieved assessee filed an appeal before the ld. CIT(A). The ld. CIT(A) dismissed the order of the ld. AO. Accordingly, the revenue being

THE INCOME TAX OFFICER, AMRITSAR. vs. SH. SURJIT SINGH, AMRITSAR.

In the result, the appeal of revenue ITA No

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjeei.T.A. No.434/Asr/2016 Assessment Year: 2009-10

capital gain calculated by the revenue related to transaction amounting to Rs.85,90,000/-. The revenue claimed that both the amounts are not declared by the assessee in the total income during filing of return. Aggrieved assessee filed an appeal before the ld. CIT(A). The ld. CIT(A) dismissed the order of the ld. AO. Accordingly, the revenue being

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 amounting to Rs.67.53 lacs only, (without any income being declared either from Jammu Hotels Pvt. Ltd. or from Future Housing Infra Pvt. Ltd.)Referring to the impounded documents, the Ld DR submitted that the same has been found at the premises of the partnership firm M/s Kapahi Construction Company where the husband and both the sons