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

penny stock and has weak financial position, suspicious pattern of rigging of share prices and stands debarred/suspended from share market as per the order of the SEBI. Further, there is no evidential change in performance of the company which would substantiate the price rise of the scrip. The persons selling the scrip when the price of scrip is high

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

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

Penny stock shares) - Assessment year 2014- 15 - Whether before exercise of power under section 263 it is Principal Commissioner who has to apply its mind to issue and thereafter record reasons as to how twin conditions of order of Assessing Officer being erroneous and prejudicial to interest of revenue are satisfied and then issue a show-cause notice to assessee

ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE, AMRITSAR vs. M/S PUNJAB RICE LAND PRIVATE LIMITED, TARN TARAN

In the result, both the appeals of the revenue are dismissed and

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

penny in cash in lieu of cheque issued for payment were withdrawn/received by the appellant by any manner. It is also submitted that it was explained that 90% of the sales of the appellant concern are exports only and none of the sales were doubted or doubtful. Moreover, no discrepancy was found in stock in any of the year including

ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE, AMRITSAR vs. M/S PUNJAB RICE LAND PRIVATE LIMITED , TARN TARAN

In the result, both the appeals of the revenue are dismissed and

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

penny in cash in lieu of cheque issued for payment were withdrawn/received by the appellant by any manner. It is also submitted that it was explained that 90% of the sales of the appellant concern are exports only and none of the sales were doubted or doubtful. Moreover, no discrepancy was found in stock in any of the year including