M/S CITI PLAZA,JALANDHAR vs. INCOME TAX OFFICER , WARD 3(1), JALANDHAR

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

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

9 Assessment Year: 2006-07 certain portion of the order." Thereafter, in para 4.6, he has upheld the assessment in terms of sections 149, 150(1) and 150(2). SUBMISSIONS BEFORE THE BENCH 1. The ld.CIT(A) in his above findings, has apparently detracted from the core issue, which he was required to adjudicate by the Bench. In para

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

9 ITA No. 26/Asr/2024 Rama Mittal v. ITO court where adjudicating the matter on Section 69A, read with section 10(38), of the Income-tax Act, 1961 - Unexplained moneys (Share dealings) - High Court by impugned order held that where Assessing Officer disallowed exemption claimed by assessee under section 10(38) and made additions, alleging involvement in penny stock which were

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

9 ITA No. 26/Asr/2024 Rama Mittal v. ITO court where adjudicating the matter on Section 69A, read with section 10(38), of the Income-tax Act, 1961 - Unexplained moneys (Share dealings) - High Court by impugned order held that where Assessing Officer disallowed exemption claimed by assessee under section 10(38) and made additions, alleging involvement in penny stock which were

THE ASSISTANT COMMISSIONER OF INCOME TAX, JALANDHAR vs. M/S BROADWAYS OVERSEAS LTD, JALANDHAR

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

9 I.T.A. Nos. 477 & CO 32/Asr/2015 & Ors Asstt. CIT v. Broadways Overseas Ltd. & Ors 4. That the appellant craves leave to amend, alter or add to the above grounds of cross objection, before the appeal is heard or disposed off.” Grounds of appeal in CO No. 06/Asr/2016 “1. That Ld. CIT(A) ought to have held that Ld. DCIT

BRODAWAYS OVERSEAS LIMITED,JALANDHAR vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1, JALANDHAR

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

9 I.T.A. Nos. 477 & CO 32/Asr/2015 & Ors Asstt. CIT v. Broadways Overseas Ltd. & Ors 4. That the appellant craves leave to amend, alter or add to the above grounds of cross objection, before the appeal is heard or disposed off.” Grounds of appeal in CO No. 06/Asr/2016 “1. That Ld. CIT(A) ought to have held that Ld. DCIT

THE ASSTT. COMMISSIONER OF INCOME TAX, JALANDHAR vs. M/S BROADWAY OVERSEAS LTD., JALANDHAR

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

9 I.T.A. Nos. 477 & CO 32/Asr/2015 & Ors Asstt. CIT v. Broadways Overseas Ltd. & Ors 4. That the appellant craves leave to amend, alter or add to the above grounds of cross objection, before the appeal is heard or disposed off.” Grounds of appeal in CO No. 06/Asr/2016 “1. That Ld. CIT(A) ought to have held that Ld. DCIT

THE ASSTT. COMMISSIONER OF INCOME TAX, JALANDHAR vs. M/S BROADWAY OVERSEAS LTD., JALANDHAR

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

9 I.T.A. Nos. 477 & CO 32/Asr/2015 & Ors Asstt. CIT v. Broadways Overseas Ltd. & Ors 4. That the appellant craves leave to amend, alter or add to the above grounds of cross objection, before the appeal is heard or disposed off.” Grounds of appeal in CO No. 06/Asr/2016 “1. That Ld. CIT(A) ought to have held that Ld. DCIT

THE ASSTT. COMMISSIONER OF INCOME TAX, JALANDHAR vs. M/S BROADWAY OVERSEAS LTD., JALANDHAR

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

9 I.T.A. Nos. 477 & CO 32/Asr/2015 & Ors Asstt. CIT v. Broadways Overseas Ltd. & Ors 4. That the appellant craves leave to amend, alter or add to the above grounds of cross objection, before the appeal is heard or disposed off.” Grounds of appeal in CO No. 06/Asr/2016 “1. That Ld. CIT(A) ought to have held that Ld. DCIT

THE ASSTT. COMMISSIONER OF INCOME TAX, JALANDHAR vs. M/S BROADWAY OVERSEAS LTD., JALANDHAR

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

9 I.T.A. Nos. 477 & CO 32/Asr/2015 & Ors Asstt. CIT v. Broadways Overseas Ltd. & Ors 4. That the appellant craves leave to amend, alter or add to the above grounds of cross objection, before the appeal is heard or disposed off.” Grounds of appeal in CO No. 06/Asr/2016 “1. That Ld. CIT(A) ought to have held that Ld. DCIT

THE ASSTT. COMMISSIONER OF INCOME TAX, JALANDHAR vs. M/S BROADWAYS OVERSEAS LTD, JALANDHAR

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

9 I.T.A. Nos. 477 & CO 32/Asr/2015 & Ors Asstt. CIT v. Broadways Overseas Ltd. & Ors 4. That the appellant craves leave to amend, alter or add to the above grounds of cross objection, before the appeal is heard or disposed off.” Grounds of appeal in CO No. 06/Asr/2016 “1. That Ld. CIT(A) ought to have held that Ld. DCIT

SHRI RANJEET SINGH,BATHINDA vs. INCOME TAX OFFICER WARD-1 (1), BATHINDA

In the result, both the appeals of the assessee are allowed

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

section 96 of RFCTLARR Act, 2013 cannot be given to the appellant. Ranjeet Singhv. ITO & Ors. 4. The Ld.CIT(A)NFAC has erred on facts and law in rejecting the claim of exemption of the assessee from Long Term Capital Gains, arising from Compulsory Acquisition of Land under National Highway Act, 1956, while relying on the order of Agra Bench

INCOME TAX OFFICER WARD-2 (2), MUKTSAR vs. AJAIB SINGH, VILLAGE BHARU

In the result, the appeal of the revenue is dismissed

Bench: Sh. Udayan Dasgupta & Sh. Krinwant Sahay(Hybrid Hearing) I.T.A. No. 354/Asr/2024 Assessment Year: 2012-13

capital gains on such sale as per provision of section 54B(1)(ii). He further relied on the judgment of jurisdictional High Court in the case of CIT vs. Gurnam Singh in ITA 616/2007 order dated 01/04/2008 reported in 327 ITR 278 where it has been held by the Hon’ble Court that purchase of another piece of land

MR RUDER MANI WALIA,JALANDHAR vs. INCOME TAX OFFICER WARD-2 (3), JALANDHAR

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

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjeei.T.A. No.257/Asr/2022 Assessment Year: 2017-18

gains is that of the LIC maturity proceeds only. 6.2) Tax treatment of “any sum received under a Life Insurance Policy”: It is important to note that section 10(10D) and section 194DA deals with “any sum received under a Life Insurance Policy” and “Payment in respect of Life Insurance Policy” respectively. Incomes not included in total income

INCOME TAX OFFICER, INCOME TAX OFFICE vs. VIKAS MEHRA, THE MALL

In the result, the appeal filed by the revenue is dismissed being devoid of

Bench: Sh. Manoj Kumar Aggarwal & Sh. Udayan Dasgupta

1) and therefore, the appellant was issued summons us 131 for personal appearance on 14.11.2019 along with bank account and detailed capital account explaining the increase in large share capital during the year. In response Sh. Jatinder Nagpal, Advocate filed online reply along with capital account, copy of registered deed in respect of immovable property and documentary evidence relating

THE INCOME-TAX OFFICER, MUKTSAR vs. M/S. MAKKAR COTTON MILLS,, MUKTSAR

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjeei.T.A. No.504/Asr/2014 Assessment Year: 2006-07

section 41 (2) of the Income Tax Act, 1961. As per reasons recorded, the plant and machinery of the assessee was sold at Rs. 20,00,000/- whereas the cost as per records was Rs. 1,60,000/. Hence, the assessment was made by the then AO at Rs. 18,40,000/- being Long Term Capital Gain arised on account

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

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

9 Assessment Year: 2018-19 submission is extracted as below: I.T.A. No.193/Asr/2022 10 Assessment Year: 2018-19 I.T.A. No.193/Asr/2022 11 Assessment Year: 2018-19 I.T.A. No.193/Asr/2022 12 Assessment Year: 2018-19 I.T.A. No.193/Asr/2022 13 Assessment Year: 2018-19 I.T.A. No.193/Asr/2022 14 Assessment Year: 2018-19 I.T.A. No.193/Asr/2022 15 Assessment Year: 2018-19 I.T.A. No.193/Asr/2022 16 Assessment Year: 2018-19 I.T.A

SH. AMRIT LAL BATRA, PROP.,SRINAGAR vs. THE ADDITIONAL COMMISSIONER OF INCOME-TAX,, JAMMU

Appeals of the appellant are disposed off in the terms indicated as above

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

9. He further placed reliance on the Judgment in the case of the Jurisdictional Hon’ble Punjab & Haryana High Court in the case of CIT Amrit Lal Batra v. Addl./Dy.CIT vs S.K Kaintal as reported in 23 DTR 68 (P&H HC) is worth to mention here wherein it was held as under: “Where the assessee sold its agricultural