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

section 68 were justified- 4. Suman Poddar Vs ITO Special Leave to Appeal (C) No. 26864 OF 2019, [2019] 112

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

section 68 were justified- 4. Suman Poddar Vs ITO Special Leave to Appeal (C) No. 26864 OF 2019, [2019] 112

SHRI NASIR AHMED RANGSHU,ANANTNAG vs. ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1, SRINAGAR

In the result, the appeal of the assessee is dismissed

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

112- 05-20231 The Conciilsion drawn by the Ilonble Bench arc reproduced as In the present case, the assessee was a practicing Advocate. The assessee was travelling from Mumbai to Delhi to attend two matters in the Hon'ble Supreme Court. During a search conducted at the airport, the officer found currency notes amounting

THE ASSISATANT COMMISSIOENR OF INCOME-TAX,, HOSHIARPUR vs. SH. MANINDER SINGH CHEEMA, HOSHIARPUR

In the result, the Revenue’s appeal is partly allowed

Bench: Sh. Sanjay Arora & Sh. N. K. Choudhryi.T.A. No. 719/Asr/2013 Assessment Year: 2007-08

section 68 cannot be invoked. The explanation of the same as representing earnest money, it needs to be appreciated, is an explanation toward the ‘nature’ of the credit, which, along with ‘source’, is to be satisfactorily explained, i.e., established on the parameters of identity and creditworthiness (of the creditor) and the genuineness (of the transaction), as is well settled

SH. DIDAR SINGH S/O SH. PREM SINGH,KAPURTHALA vs. THE DY. COMMISSIONER OF INCOME TAX, KAPURTHALA

In the result, the assessee succeeds

Bench: Sh. Sanjay Arora & Sh. N.K.Choudhryita No.542(Asr)/2016 Assessment Year:2008-09

68 cannot be sustained. Further, it was also submitted that ITO has not given any warning to the assessee/appellant herein before putting question to the assessee/appellant to the effect that any admission/confession can be used against him in any proceedings under the Act and its repercussion and, nor he was made aware of his right to engage lawyer

SH. PUNEET SEHDEV PROP,JAMMU vs. THE INCOME-TAX OFFICER, JAMMU

Bench: Shri L. P. Sahu & Shri Ravish Sood

112/- on account of so called unexplained credits u/s 68 of the IT Act, 1961. The A.O did not appreciate that these were genuine creditors in due course of business and merely on the basis of conjectures, surmise and suppositions the addition has been made. The A.O has failed to place any adverse material against the assessee on record

PUNEET SAHDEV,JAMMU vs. THE INCOME TAX OFFICER, JAMMU

Bench: Shri L. P. Sahu & Shri Ravish Sood

112/- on account of so called unexplained credits u/s 68 of the IT Act, 1961. The A.O did not appreciate that these were genuine creditors in due course of business and merely on the basis of conjectures, surmise and suppositions the addition has been made. The A.O has failed to place any adverse material against the assessee on record

INCOME TAX OFFICER, JAMMU vs. SH. PUNEET SEHDEV, PROP., JAMMU

Bench: Shri L. P. Sahu & Shri Ravish Sood

112/- on account of so called unexplained credits u/s 68 of the IT Act, 1961. The A.O did not appreciate that these were genuine creditors in due course of business and merely on the basis of conjectures, surmise and suppositions the addition has been made. The A.O has failed to place any adverse material against the assessee on record

SH. PUNEET SEHDEV PROP;,JAMMU vs. THE INCOME-TAX OFFICER,, JAMMU

Bench: Shri L. P. Sahu & Shri Ravish Sood

112/- on account of so called unexplained credits u/s 68 of the IT Act, 1961. The A.O did not appreciate that these were genuine creditors in due course of business and merely on the basis of conjectures, surmise and suppositions the addition has been made. The A.O has failed to place any adverse material against the assessee on record

INCOME TAX OFFICER WARD-1 (1), JALANDHAR vs. SHRI ANIL KUMAR WASON, JALANDHAR

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

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjeei.T.A. No. 164/Asr/2023 Assessment Year: 2014-15

section 68 is concerned. The AO had been required to make an enquiry and verify the genuinity of the appellant's claim; however the AO in the remand report reiterated/ repeated the facts which were pre-existing in the assessment order. However, the AO without verifying the correctness of the identity of these sundry creditors or without bringing

BALDEV SINGH S/O GAJJAN SINGH,TARN TARAN vs. THE INCOME TAX OFFICER,, TARN TARAN

In the result, the assessee’s appeal is partly allowed

Bench: Sh. Sanjay Arorai.T.A. No. 178/Asr/2016 Assessment Year: 2010-11

section 68 to apply or be invoked. Further, allowing credit for the full value of the opening capital as on 01.4.2009 (Rs.5,10,889), would amount to giving credit for the opening bank balance (Rs.1,90,896) twice in-as-much as the said amount would stand to form part of the assessee’s opening capital. I, accordingly, estimate

SH. BASANT KUMAR,FAZILKA vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-II, BATHINDA

In the result, the assessee’s appeal is partly allowed

Bench: Sh. Sanjay Arora & Sh. N. K. Choudhryi.T.A. No. 514/(Asr)/2017 Assessment Year: 2014-15

section 37(1) (for any revenue expenditure generally), etc. The matter stands dealt with and explained at considerable length by the Tribunal per its special bench decision in ITO v. Kenaram Saha and Subhash Saha [2009] 116 ITD 1 (Kol)(SB); and more recently in Gurdas Garg v. Asst. CIT (in ITA No. 456/Asr/2013, dated 28/2/2014) (also referred

SHRIMATI NANDINI SHARMA ,AMRITSAR vs. ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE, AMRITSAR

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

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

68,459/- 7,61,200/- 6 Nandini Sharma v. ACIT/DCIT M/s PRABHAT TRADERS Inventory Stock as inventorized by the PB Page no. department 112 1. 13,87,700 13. That during statement recorded u/s 131, it was duly clarified by the assessee that the stock related to cloth items pertains to M/s Prabhat Traders Prop. Santosh Sharma, and was also

BHUPENDRA FLOUR MILLS PVT LTD,BATHINDA vs. ITO, WARD 1(1), BATHINDA, BATHINDA

The appeal stands partly allowed in terms of out above order

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Shri Udayandasgupta, Jm आयकरअपीलसं. / Ita No.54/Asr/2025 (िनधा"रणवष" / Assessment Year: 2017-18) M/S Bhupendra Flour Mills Pvt Ltd. Ito Ward - 1(1) बनाम/ Railway Road Central Revenue Building Bhatinda, Punjab – 151001 Civil Lines, Bhatinda Vs. Punjab - 151001 "ायीलेखासं./जीआइआरसं./Pan/Gir No. Aaccb-6192-P (अपीलाथ"/Appellant) : (" थ" / Respondent) अपीलाथ"कीओरसे/ Appellant By : Sh. Sudhir Sehgal (Advocate) - Ld. Ar " थ"कीओरसे/Respondent By : Sh. Farhat Khan (Cit) – Ld. Dr (Virtual) सुनवाईकीतारीख/Date Of Hearing : 05-02-2026 घोषणाकीतारीख /Date Of Pronouncement 20.02.2026 : आदेश / O R D E R

68. The assessee has argued that the decisions of the Hon’ble Delhi High Court and the Hon’ble Punjab & Haryana High Court, which have upheld the post-amendment taxability of interest on enhanced compensation under Section 56(2)(viii), are per incuriam as they did not expressly consider the Hon’ble Supreme Court’s rulings in Hari Singh

THE ASSISTANT COMMISSIONER OF INCOME TAX,, PATHANKOT vs. M/S WALIA CONSTRUCTION CO.,, PATHANKOT

In the result, the appeal filed by the Revenue Department stands dismissed

Bench: Sh. N.S.Saini & Sh. N.K.Choudhryita No.499(Asr)/2015 Assessment Year:2010-11

section 133A was conducted on 10/03/201.0 and the assessee has surrendered an amount of Rs.50 lakhs which has duly been reflected in the Profit & Loss Accounts. The case was selected for scrutiny through CASS. The assessee’s firm is a Govt. Contractor engaged in Civil Construction. The Assessing Officer completed the assessment u/s 143(3) of the Income

LATE. SH. GURMAIL SINGH.S/O. LATE SH. LAL SINGH,SRI MUKTSAR vs. DY. COMMISSIONER OF INCOME TAX CIRCLE -II, BATHINDA

Appeals are disposed of in the terms and observation made as above

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

section 292C of Income Tax Act would raise a presumption that notice has been served properly upon the appellant. In respect of reasons not been properly recorded, it is to be seen that in the course of the survey proceedings both the appellants were examined and the statements were recorded. In the statements, there has been categorical admission

LATE. SH. GUMAIL SINGH . S/O. SH. LAL SINGH,MUKTSAR vs. DY. COMMISSIONER OF INCOME TAX CIRCLE -II, BATHINDA

Appeals are disposed of in the terms and observation made as above

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

section 292C of Income Tax Act would raise a presumption that notice has been served properly upon the appellant. In respect of reasons not been properly recorded, it is to be seen that in the course of the survey proceedings both the appellants were examined and the statements were recorded. In the statements, there has been categorical admission

LATE. SH. GURMAIL. SINGH S/O. SH. LAL SINGH,SHRI MUKAT SAR vs. DY. COMMISSIONER OF 9INCOME TAX. CIRCLE -II, BATHINDA

Appeals are disposed of in the terms and observation made as above

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

section 292C of Income Tax Act would raise a presumption that notice has been served properly upon the appellant. In respect of reasons not been properly recorded, it is to be seen that in the course of the survey proceedings both the appellants were examined and the statements were recorded. In the statements, there has been categorical admission