M/S ACTIVE TOOLS (P). LIMITED,JALANDHAR vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE -II, JALANDHAR

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

depreciation 8507221 27513457 8. The assessing Officer after considering replies filed by the assesse from time to time and test checking of books of accounts produced before the Assessing Officer, an assessment was framed at an Income of Rs. 99,68,100/- by making an addition of Rs. 1,00,000/- out of expenses debited to Profit and loss account

DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE, AMRITSAR vs. SHRI BHUPINDER SINGH. M/S NOVELTY SWEETS, AMRITSAR

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

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

133A was carried out on 05.02.2019 and statement of Sh. Jatinder Singh (Karta Bhupinder Singh HUF) was recorded on 06.02.2019. The AO has mentioned that as per Profit & Loss account as on 03.02.2021, assessee showed sales of Rs.2,60,29,553/- and same was confronted recording of statement at the time of survey proceedings. As per the AO during survey

SHRI TEJPAL SINGH,AMRITSAR vs. ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE, AMRITSAR

In the result, appeal of the assesseeITA No

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjeei.T.A. No. 266/Asr/2023 Assessment Year: 2018-19

133A on dated 14.03.2019 at the assessee’s premises of M/s Simran Medicos. During survey proceeding the statement of the assessee was recorded. The assessee surrendered amount of Rs.50,38100/- out of which Rs.43,25,285/- was recorded to excess stock found I.T.A. No. 266/Asr/2023 3 Assessment Year: 2018-19 during the survey and Rs.7,12,805/- related to excess

DASHMESH TIMBER AND FURNITURE HOUSE,AJNALA vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE, AMRITSAR

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

Bench: Sh. Udayan Dasgupta & Sh. Krinwant Sahay

133A(3)(iii) of the Act, 1961). The said statement was also followed by a surrender letter from the assessee, addressed to the Ld JCIT, Amritsar, dated 08/02/2019, declaring that an additional business income of Rs 65 lakhs is being offered, to cover up the discrepancy of excess stock and the additional cash, found in the survey premises, which