SH. VIJAY KUMAR,PROP. ,MOGA vs. INCOME TAX OFFICER WARD-3, MOGA

In the result, the appeal filed by the assessee is dismissed

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

section 271(1)(c) of the act. In the present case, although the assessee has disclosed the long-term capital gains in the return of income but understated the said long-term capital gain in the computation of income to the extent of Rs. 5,51,827/-, and thereby submitted inaccurate particulars of income under the head Long Term Capital

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

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 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 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

ESTATE OF SH. JAGIR SINGH BHULLAR,AMRITSAR. vs. THE INCOME TAX OFFICER, TARN TARAN

In the result, the appeals of the assessee is partly allowed

Bench: Shri N.K. Choudhry, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita Nos.306/Asr/2014 & 591/Asr/2015 ("नधा"रणवष" / Assessment Year: 2007-08) Estate Of Sh. Jagir Singh Bhullar Vs. Income Tax Officer, Through S. Jasbir—Singh Ward-1(3), Bhullar, Tarn Taran, E-250 Ranjit Avenue, Amritsar, Punjab. Punjab.

v) of the Act does not apply. 5. It was submitted by learned counsel for the assessee- appellant that whatever amount was received from the developer, capital gains tax has already been paid on that and sale deeds have also been executed. In view of cancellation of JDA dated 25.02.2007, no further amount has been received and no action thereon

THE INCOME TAX OFFICER, TARN TARAN vs. ESTATE OF LATE SH. JAGIR SINGH BHULLAR, TARN TARAN

In the result, the appeals of the assessee is partly allowed

Bench: Shri N.K. Choudhry, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita Nos.306/Asr/2014 & 591/Asr/2015 ("नधा"रणवष" / Assessment Year: 2007-08) Estate Of Sh. Jagir Singh Bhullar Vs. Income Tax Officer, Through S. Jasbir—Singh Ward-1(3), Bhullar, Tarn Taran, E-250 Ranjit Avenue, Amritsar, Punjab. Punjab.

v) of the Act does not apply. 5. It was submitted by learned counsel for the assessee- appellant that whatever amount was received from the developer, capital gains tax has already been paid on that and sale deeds have also been executed. In view of cancellation of JDA dated 25.02.2007, no further amount has been received and no action thereon

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

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

gains of the business or profession, and accordingly chargeable to income-tax as the income of that previous year. Explanation 1.—For the purposes of this sub-section, the expression “loss or expenditure or some benefit in respect of any such trading liability by way of remission or cessation thereof” shall include the remission or cessation of any liability

SMT. INDERMEET BAINS W/O SH. D.S. BAINS,BATHINDA vs. PR. COMMISSIONER OF INCOME TAX , BATHINDA

The appeal of the assessee is disposed of in the term indicated as above

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

gain on the sale of this land comes at Rs. 2,90,04,020/-. However, the capital on sale of land was claimed exempt stating the sale of agriculture land. As per report of State Govt. Authorities, the land in question is located at a distance of 3 Kms. From the municipal area of Mohali, which clearly means the land

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

9. That the appellant craves leave to add or amend the grounds of appeal before the appeal is finally heard or disposed of.” 3. Grounds of appeal in ITA No. 135/Asr/2023: “1. That the learned CIT(A) is not justified in dismissing appeal of the appellant and confirming the addition of Rs. 87,36,536/- made by the Assessing Officer

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

Bench: Sh. Vikram Singh Yadav & Sh. Udayan Dasgupta

capital gain (LTCG) to claim exemption under section 10 (38) was based on a proposal given by Assessing Officer, exercise of jurisdiction under section 263 was not justified - Held, yes [Paras 8 and 9] [In favour of assessee] 27. The Ld AR further argued on applicability of clause(a) of explanation 2 to section 263 and relied upon the Judgment

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

v) The appellant craves leave to add or amend any ground of appeal before the appeal is finally heard or disposed off.” 4. Brief facts emerging from record are that the assessee is an agriculturist and is about 92 years old, and his source of income is only from agricultural activities carried out on ancestral agricultural land. During