INCOME TAX OFFICER, WARD-3(1),FEROZEPUR, FEROZEPUR vs. MS.JATIN AGRO, FORT ROAD

In the result, the appeal of the revenue is dismissed

Bench: Sh. Manoj Kumar Aggarwal & Sh. Udayan Dasgupta(Physical Hearing) I.T.A. No. 103 & 104/Asr/2024 Assessment Years: 2014-15 & 2017-18 Ito, Ward-3(1), Vs. M/S Jatin Agro Fort Road, Ferozepur. 152-P, Ferozepur. [Pan:-Aarpm5393F] (Appellant) (Respondent) Sh. Ashray Sarna, Ca Appellant By Respondent By Sh. Sunil Gautam, Cit. Dr

House Property. The assessee wrongly claimed deduction u/s 35AD(8)(c)(ii) of the Act at Rs. 116,48,50,757/- and wrongly set it off against declared income of the current year. Hence, the income of Rs.4.32.80,900/- which was chargeable to tax for the year under consideration escaped assessment on account of wrong presentation of facts

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

house property at Rs.75,600/-, short term capital loss at (Rs.30,618/-), income from bank interest at Rs.17,667/- and LTCG (long term capital gains) amounting to Rs.2,02, 30,196/- which has been claimed as exempt u/s 10(38) of the Act) . After a search operation u/s 132 of the Act 1961 carried out on 29th

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

house property at Rs.75,600/-, short term capital loss at (Rs.30,618/-), income from bank interest at Rs.17,667/- and LTCG (long term capital gains) amounting to Rs.2,02, 30,196/- which has been claimed as exempt u/s 10(38) of the Act) . After a search operation u/s 132 of the Act 1961 carried out on 29th

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

Section 24 of the IT Act, 1961 under the head 'income from house property'. In view of that matter, there 8 Vishal Batrav. Dy. CIT being a clear provision providing for deduction of the interest amount out of rental income, and there being no provision for deduction of this amount out of capital gains, the claim of the assessee regarding

VEENA KHINDRI,SRINAGAR vs. INCOME TAX OFFICER WARD-1, SRINAGAR

In the result, Assessee's appeal is allowed

section 115BAC\nis denied to the assessee, then, in such a case, the\nassessee is entitled to avail deduction under chapter\nVI-A of the income tax act 1961.\n6.\nThat the Ld. CIT(A) has erred in not accepting the\nform 10 IE and revised return filed on 25.03.2022\nwithout considering the fact that it was filed before\nthe

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

house) on the death of his father in the year 1991, (through will). One of the properties is situated at Joshi Colony, Amritsar, which was purchased by the father of the assessee on 18.07.1962 for Rs.10,000/-. The second property is situated at Delhi which was also purchased by the father of the assessee on 16.05.1991 for Rs.9 lacs (nine

INDIAN TOOLS TECHNOLOGY CENTRE ,JALANDHAR vs. INCOME TAX OFICER WARD II(1), JALANDHAR

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

10 epics court in the case of Tuticorin alkali chemicals and fertilisers Ltd madras versus CIT, dated 08.07.1997 wherein it was held that- “It has been argued that the source from which the company has earned interest is borrowed capital. The company has to pay interest to its creditors on the same borrowed capital. Having regard to the identity

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

house property, profits and gains of business or profession, or capital gains, nor is it income from "other sources" because the provisions of sections 69.69A, 69B and 69C meat unexplained investment, unexplained money, bullion, etc., and unexplained expenditure as deemed income where the nature and source of investment, acquisition or expenditure, as the case may be, have not been

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

section 69 of the Act 1961. 11 I.T.A. No. 542/Asr/2024 Dashmesh Timber and Furniture House v. Dy. CIT 12. The AR further relying on the jurisdictional High court judgment in the case of Sudarshan Gupta, (2008) 10 DTR (P&H) 184, submitted that when an offer of surrender is being accepted by the department, the same should be accepted

SHRI ADARSH KUMAR NAGPAL,ABOHAR vs. INCOME TAX OFFICER WARD-2 (3), ABOHAR

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

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

10, Abohar 152116, Punjab [PAN: AAJPN 1847P] (Respondent) (Appellant) Appellant by Sh. Sudhir Sehgal Respondent by Sh. S. M. Surendranath, Sr. DR Date of Hearing : 16.05.2023 Date of Pronouncement : 24.05.2023 ORDER Per Dr. M. L. Meena, AM: This appeal has been filed by the assessee against the order of the Ld. CIT(A) National Faceless Appeal Centre (NFAC), Delhi dated

SHRI MOHAMMAD YAQOOB DAR,SRINAGAR vs. INCOME TAX OFFICER WARD -3 (2), SRINAGAR

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

Housing Loan agreement is attached statement is enclosed herewith at page numbers 30 to 33 of Paper Book. And the home loan account in the name of Son Mr. Farooq Ahmad Dar is enclosed for your kind perusal at page number 34 of the Paper Book. The Gulmohar development promotors and builders have duly issued the receipts for the payments

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

10 I.T.A. No.557/Asr/2024 Assessment Year: 2019-20 amendments have been made in section 53A of 1882 Act and sections 17 and 49 of the 1908 Act by amendment vide 2001 Act which stood enforced with effect from 24- 9-2001, and the words "the contract, though required to be registered, has not been registered, or in section

THE DY. COMMISSIONER OF INCOME TAX, AMRITSAR. vs. SH. JAIMAL SINGH, L/H. SH. PREM CHAND,, TARN TARAN

In the result, the appeal bearing ITA No

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

10-11-2006 was taxable in India in the assessment year 2007-08 since the transfer of the said property took place in FY 2006-07, and was not taxable in the assessment year under consideration. Likewise, the other income earned by late Prem Chand in United Kingdom , credited in his WOOLWICH account

SHRI ARNESH KUMAR SHAKAR EX. MLA,HOSHIARPUR vs. INCOME TAX OFFICER WARD, DASUYA

In the result, appeal of the assessee ITA No

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

house is claimed to have been purchased by the assessee on 16.02.2010 i.e. beyond the period of two years from the date of transfer of original asset exemption u/s 54F of the Income Tax Act, 1961 was not allowed to the assessee. 3. The assessee preferred appeal before the Commissioner of Income Tax(Appeals), Jalandhar and Ld. Commissioner of Income

SHRI HARSH VARDHAN ,JALANDHAR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, JALANDHAR

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

property to which the aforesaid Notice u/s 148, dated 11.03.2015 was addressed, without putting up any efforts to locate the whereabouts of the assessee, which he could have easily gathered by going no further but referring/consulting the assessment records of the assessee, had however, most arbitrarily by way of an idle formality, or, in fact, an eye wash

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

property in question. Backed by his aforesaid observations, the A.O was of the view that as the total consideration of Rs. 1,81,25,000/- (supra) had accrued to the assessee during the year under consideration, therefore, the LTCG therein arising to him, i.e, as provided in Sec. 45 r.w Sec. 48 of the Act was liable to be brought

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

property in question. Backed by his aforesaid observations, the A.O was of the view that as the total consideration of Rs. 1,81,25,000/- (supra) had accrued to the assessee during the year under consideration, therefore, the LTCG therein arising to him, i.e, as provided in Sec. 45 r.w Sec. 48 of the Act was liable to be brought

DCIT CENTRAL CIRCLE 1 JALANDHAR, JALANDHAR vs. ANKUR MARWAHA, JALANDHAR

In the result, all the appeals filed by the revenue are dismissed

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

house property ”, which proves the fact that ,the said premises are let out/leased out , on rent to the above tenants/ lessees , are already in the knowledge of the department , since inception, and the rental income disclosed in regular returns are duly accepted by the department in normal course. 18. It is also seen that all the above four concerns