SHRI NAROTAM SINGH,MANSA vs. INCOME TAX OFFICER WARD -1(4), MANSA

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

1. The assessee contributed ancestral agriculture land along-with his brother as their share in the capital in the books of M/s G.S. Chahal & Associates at the time of constituting the partnership firm. 2. The A.O. invoked the provisions of section 45(3) of the IT Act, 1961 and assessed the long term capital gain amounting

SHRI BARJINDERPAL SINGH BHULLAR,MOHALI vs. INCOME TAX OFFICER WARD- 1 (3), BATHINDA

Accordingly, the appeal filed by the assessee is allowed in terms of our aforesaid observations

Bench: Sh. Ravish Sood & Dr. M. L. Meena

capital gain tax only when the same was so received, and not otherwise. Accordingly, the CIT(A) in terms of his aforesaid observations partly allowed the appeal. 5. The assessee being aggrieved with the order of the CIT(A) has carried the matter in appeal before us. At the very outset of the hearing of the appeal, it was submitted

SHRI BRIJINDERPAL SINGH BHULLAR,MOHALI vs. INCOME TAX OFFICER WARD- 1 (3), BATHINDA

Accordingly, the appeal filed by the assessee is allowed in terms of our aforesaid observations

Bench: Sh. Ravish Sood & Dr. M. L. Meena

capital gain tax only when the same was so received, and not otherwise. Accordingly, the CIT(A) in terms of his aforesaid observations partly allowed the appeal. 5. The assessee being aggrieved with the order of the CIT(A) has carried the matter in appeal before us. At the very outset of the hearing of the appeal, it was submitted

M/S G G OILS & FATS PVT.LTD ,BATHINDA vs. DEPUTY COMMISSIONER OF INCOME TAX, BATHINDA

In the result, the assessee’s appeal is dismissed

Bench: Sh. Sanjay Arora & Sh. N. K. Choudhryi. T. A. No. 508/Asr/2017 Assessment Year: 2014-15

9 G. G. Oils & Fats Pvt. Ltd. v. Dy. CIT back, in full, before the year-end, on which date the credit balance of GAPL stood at Rs. 14.48 lacs (including a credit on account of interest, net of TDS, at Rs. 4.67 lacs). 4.3 The question that therefore assumes significance is if the fact of the subsequent repayment

SH. GURBACHAN SINGH BRAR,MOGA vs. ITO, WARD - 1,, MOGA

Bench: : Shri Laliet Kumar & Dr. Mitha Lal Meena

vii) After appreciating the contentions of the petitioner assessee during the course of original assessment proceedings, the Ld. Assessing Officer had framed the assessment after obtaining the approval of the Ld. Joint Commissioner of Income Tax u/s 153D of the Income Tax Act, 1961. It will be wrong to observe that the Ld. Assessing Officer did not conduct any enquiry

SH. SANTOKH SINGH BRAR,MOGA vs. ITO, WARD - 2,, MOGA

Bench: : Shri Laliet Kumar & Dr. Mitha Lal Meena

vii) After appreciating the contentions of the petitioner assessee during the course of original assessment proceedings, the Ld. Assessing Officer had framed the assessment after obtaining the approval of the Ld. Joint Commissioner of Income Tax u/s 153D of the Income Tax Act, 1961. It will be wrong to observe that the Ld. Assessing Officer did not conduct any enquiry

SMT. GURJEET KAUR,JALANDHAR vs. INCOME TAX OFFICER, WARD- IV (2),, JALANDHAR

The appeal of the assessee is allowed in terms of our

Bench: Sh. Ravish Sood & Dr. M. L. Meena

vii). that despite requests no cross-examination of Sh. Rishikesh Verma, witness to the ‘agreement’ had been facilitated by the department; (viii). that no adverse inferences had been drawn by the department in the case of the alleged purchaser, viz. Sh. Surjit Singh, and in fact the reassessment proceedings that were initiated in his case

SMT. GURJEET KAUR,JALANDHAR vs. INCOME TAX OFFICER, WARD- IV (2),, JALANDHAR

The appeal of the assessee is allowed in terms of our

Bench: Sh. Ravish Sood & Dr. M. L. Meena

vii). that despite requests no cross-examination of Sh. Rishikesh Verma, witness to the ‘agreement’ had been facilitated by the department; (viii). that no adverse inferences had been drawn by the department in the case of the alleged purchaser, viz. Sh. Surjit Singh, and in fact the reassessment proceedings that were initiated in his case

SHRI JASBIR SINGH ,JALANDHAR vs. INCOME TAX OFFICER,WARD-I (2), JALANDHAR

In the result, the appeal of the assessee is allowed

Bench: Shri N.K. Choudhry, Jm & Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.426/Asr/2018 ("नधा"रणवष" / Assessment Year: 2011-12)

section 50C (2) of the IT Act. The AO is being directed to re-compute the quantum of long term capital gains on sale of property by taking the sale consideration at Rs.2,03,00,000 and workout the amount of capital gains accordingly.” 5. Aggrieved by the order of the ld. CIT(A), the assessee is in appeal before

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

gain transactions. The entire onus is on Revenue and the inferences might be drawn in certain cases but come to a conclusion that a particular higher amount was, in fact received must be based on such material from which such an irresistible conclusion follows. In our considered view, in the present case, the Revenue could not lay primary facts, from

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

gain transactions. The entire onus is on Revenue and the inferences might be drawn in certain cases but come to a conclusion that a particular higher amount was, in fact received must be based on such material from which such an irresistible conclusion follows. In our considered view, in the present case, the Revenue could not lay primary facts, from

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

gain transactions. The entire onus is on Revenue and the inferences might be drawn in certain cases but come to a conclusion that a particular higher amount was, in fact received must be based on such material from which such an irresistible conclusion follows. In our considered view, in the present case, the Revenue could not lay primary facts, from

SHRIMATI. SAVITRI DEVI,BATHINDA vs. INCOME TAX OFFICER WARD-2(1), BATHINDA

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

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

vii. 7th paragraph: It will give detail and instances along .with corroborative material to prove that the assessee had not disclosed full and truly all material facts necessary for his assessment or that the facts of the case are covered by the Explanation 1 to section 147 of the Act. This paragraph shall be included only in the cases where

SHRI BHUPINDER SINGH ( PROP) THE NEST HOTELS & MOTELS,JALANDHAR vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-3, JALANDHAR

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

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

Gains in respect of same property and where the explanation of the assessee was duly accepted and proceedings filed and thus there could not be I.T.A. No.250/Asr/2023 3 Assessment Year: 2011-12 two yard sticks for the same reasons adjudicated by the Deptt. and which facts the Ld. CIT(A) faceless has chosen not to discuss even. 6 Without prejudice

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

THE INCOME TAX OFFICER, AMRITSAR. vs. M/S BHAGAT INDUSTRIAL CORPORATION LTD.,, AMRITSAR.

The appeal of the Revenue is allowed for statistical purposes and CO is also allowed for statistical purposes

Bench: Sh. Laliet Kumar & Dr. M. L. Meena

vii) the demerger is in accordance with the conditions, if any, notified under sub-section (5) of section 72A by the Central Government in this behalf. Explanation 1.—For the purposes of this clause, "undertaking" shall include any part of an undertaking, or a unit or division of an undertaking or a business activity taken as a whole, but does

SHRI VIJAY KUMAR AGGARWAL,JALANDHAR vs. INCOME TAX OFICER,WARD II(4), JALANDHAR

In the result, the appeals of the assessee are dismissed

Bench: Sh. N. S. Saini & Sh. N. K. Choudhryita No. 38/Asr./2017 : Asstt. Year : 2013-14 Ita No. 77/Asr./2017 : Asstt. Year : 2012-13

capitalized Rs. 34,88,666 and debited Rs 1,26,79,130 in the P&L a/c. This amount was also not paid due to shortage of funds. The assessee-company however, preferred the request before 31st March, 1989, to the financial institutions to defer the payment of the concerned interest. The ICICI Ltd. agreed to defer the collection

SH. VIJAY KUMAR AGGARWAL, PROP.,JALANDHAR vs. INCOME TAX OFFICER, JALANDHAR

In the result, the appeals of the assessee are dismissed

Bench: Sh. N. S. Saini & Sh. N. K. Choudhryita No. 38/Asr./2017 : Asstt. Year : 2013-14 Ita No. 77/Asr./2017 : Asstt. Year : 2012-13

capitalized Rs. 34,88,666 and debited Rs 1,26,79,130 in the P&L a/c. This amount was also not paid due to shortage of funds. The assessee-company however, preferred the request before 31st March, 1989, to the financial institutions to defer the payment of the concerned interest. The ICICI Ltd. agreed to defer the collection