M/S. PUNJAB IRON & STEEL COMPANY LIMITED,JALANDHAR vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1, JALANDHAR

In the result, the appeal of the assesse is allowed

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

132 of the Act was conducted on 03.08.2011 at the business premises of the assessee. Notice u/s 153A of the Act dated 24.01.2013 was issued to the assessee. In response thereto, the assessee filed its return of income for A Y 2008-09 on 30.12.2013 declaring NIL income. The case was assessed u/s 153A r.w.s

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

132 of the Act. Sub-section (4) thereof enables the authorities not only to rely upon the statement in the concerned proceedings but also in other proceedings that are pending, by the time the statement was recorded. 10. If the statement is not retracted, the same can constitute the sole basis for the authorities to pass an order

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

132 of the Act 1961 carried out on 29th Oct., 2020 4. at the residential premises of Marwaha family (IJM Group), proceedings in the instant 4 I.T.A. Nos. 346 & 347/Asr/2024 Assessment Years: 2014-15 & 2015-16 case, has been initiated (on the basis of information uploaded by the Investigation Wing, Jalandhar , on insight portal), vide issue of notice

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

132 of the Act 1961 carried out on 29th Oct., 2020 4. at the residential premises of Marwaha family (IJM Group), proceedings in the instant 4 I.T.A. Nos. 346 & 347/Asr/2024 Assessment Years: 2014-15 & 2015-16 case, has been initiated (on the basis of information uploaded by the Investigation Wing, Jalandhar , on insight portal), vide issue of notice

SHRIMATI JATINDER KAUR (ALIAS AMRITA),JALANDHAR vs. ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-2, JALANDHAR

In the result all the appeals of the assessee are allowed

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

68 of proving the cash credit were satisfied by the assessee the addition should have been deleted rather than upholding the same u/s 56(1)(vii) of the Act. 4 That even otherwise on facts too, the CIT(A) has erred in holding that the Gift to the daughter by his father during the year which came from the Bank

SHRIMATI JATINDER KAUR ( ALIAS AMRITA),JALANDHAR vs. ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-2, JALANDHAR

In the result all the appeals of the assessee are allowed

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

68 of proving the cash credit were satisfied by the assessee the addition should have been deleted rather than upholding the same u/s 56(1)(vii) of the Act. 4 That even otherwise on facts too, the CIT(A) has erred in holding that the Gift to the daughter by his father during the year which came from the Bank

SHRIMATI JATINDER KAUR(ALIAS AMRITA),JALANDHAR vs. ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-2, JALANDHAR

In the result all the appeals of the assessee are allowed

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

68 of proving the cash credit were satisfied by the assessee the addition should have been deleted rather than upholding the same u/s 56(1)(vii) of the Act. 4 That even otherwise on facts too, the CIT(A) has erred in holding that the Gift to the daughter by his father during the year which came from the Bank

SHRIMATI MEERA AGGARWAL,JALANDHAR vs. ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE- 2, JALANDHAR

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

section 292C of the Act under which presumption is raised which is rebuttable and the assessee has duly rebutted by submitting affidavit of her father which has been accepted by the department. 12. That the assessee reserves the right to amend, alter or raise an additional grounds of appeal before the disposal of this appeal.” Search and seizure proceedings

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

In the result, the appeal filed by assessee is allowed

68,\nhowever, Commissioner exercising his\nrevisionary power under section 263\nset aside assessment orders directing\nAssessing Officer to make fresh\nassessment after conducting detailed\nenquiry and upon satisfying on\ngenuneness of transaction - Whether\norder of Commissioner was not based\non irrelevant considerations and\nfurther in present circumstances, he\nwas not obliged to positively indicate\ndeficiencies in assessment order

SHRI JASBIR SINGH ,AMRITSAR vs. DEPUTY 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. 133/Asr/2022 Assessment Year: 2019-20

section 68 of the I.T.Act. [ Addition: Rs.27,20,300/-]” I.T.A. No. 133/Asr/2022 8 Assessment Year: 2019-20 5.2 The ld. AR further placed a detailed statement related to denial of reasonable opportunity during assessment proceeding related to issuance of the notice by the ld. AO. The statement is duly extracted as below: “The AO has wrongly observed that

M/S GURFATEH FILMS,MOHALI vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-II, JALANDHAR

In the result, the appeals of the assessees are allowed for statistical purposes

Bench: Sh. N. K. Saini, Hon’Ble & Sh. Ravish Soodita No.50/Asr./2018 : Asstt. Year : 2013-14 M/S Gurfateh Films, 4140 Vs Dcit, Sector 68, Mohali Central Circle-Ii, Jalandhar (Appellant) (Respondent) Pan No. Aakfg9328D

68, Mohali Central Circle-II, Jalandhar (APPELLANT) (RESPONDENT) PAN No. AAKFG9328D ITA No.51/Asr./2018 : Asstt. Year : 2013-14 Gurfateh Films & Sippy Vs DCIT, Grewal Production Pvt. Ltd., Central Circle-II, 1013, Sector 67, Mohali Jalandhar (APPELLANT) (RESPONDENT) PAN No. AAECG8982G Assessee by : Sh. Jatinder Sharma, CA Revenue by : Smt. Parvinder Kaur, CIT DR Date of Hearing : 16.01.2019 Date of Pronouncement

SHRI RAJESH TIWARI,JALANDHAR vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-II, JALANDHAR

In the result, the ground nos

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

68 of the Act and undisclosed interest amount of Rs.601/- was added back with the total income of the assessee. Aggrieved assessee challenged the jurisdiction of assessment u/s I.T.A. No. 84/Asr/2022 4 Assessment Year: 2012-13 153C/143(3) framed by the ld. AO and the merit before the ld. CIT(A). The ld. CIT(A) upheld the order

SH.GAURAV AGGARWAL,GURDAS PUR vs. DY.COMMISSIONER OF INCOME TAX, AMRITSAR

In the result, the appeal of assessee in ITA No

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

132(4) of the I.T. Act, 1961 of Rs. 14 Cr. on account of discrepancy in stocks. This unaccounted income is ploughed back to regular books by claiming bogus LTCG. This tax evasion is not incidental but assessee has organized its affairs in such a way that unaccounted income is brought back to regular books without paying any taxes

SMT. DEEPTI AGGARWAL,GURDAS PUR vs. DY COMMISSIONER OF INCOME TAX, AMRITSAR

In the result, the appeal of assessee in ITA No

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

132(4) of the I.T. Act, 1961 of Rs. 14 Cr. on account of discrepancy in stocks. This unaccounted income is ploughed back to regular books by claiming bogus LTCG. This tax evasion is not incidental but assessee has organized its affairs in such a way that unaccounted income is brought back to regular books without paying any taxes

SH. RAMAN KUMAR AGGARWAL,GURDAS PUR vs. DY. COMMISSIONER OF INCOME TAX , AMRITSAR

In the result, the appeal of assessee in ITA No

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

132(4) of the I.T. Act, 1961 of Rs. 14 Cr. on account of discrepancy in stocks. This unaccounted income is ploughed back to regular books by claiming bogus LTCG. This tax evasion is not incidental but assessee has organized its affairs in such a way that unaccounted income is brought back to regular books without paying any taxes

M/S RAMAN KUMAR AGGARWAL,GURDASPUR vs. DY. COMMISSIONER .OF. INCOME. TAX , AMRITSAR

In the result, the appeal of assessee in ITA No

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

132(4) of the I.T. Act, 1961 of Rs. 14 Cr. on account of discrepancy in stocks. This unaccounted income is ploughed back to regular books by claiming bogus LTCG. This tax evasion is not incidental but assessee has organized its affairs in such a way that unaccounted income is brought back to regular books without paying any taxes

SHRI ARUN NARULA ,FEROZEPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE, AMRITSAR

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

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

132 of the Income Tax Act 1961 was conducted at the residence of the assessee on 05.12.2013 and a number of documents/loose papers and books of accounts were seized during the course of search. Subsequently the case was centralized with Central Circle, Amritsar and assessment was completed u/s 144 r.w.s 153A

SHRI ARUN NARULA,FROZEPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE, AMRITSAR

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

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

132 of the Income Tax Act 1961 was conducted at the residence of the assessee on 05.12.2013 and a number of documents/loose papers and books of accounts were seized during the course of search. Subsequently the case was centralized with Central Circle, Amritsar and assessment was completed u/s 144 r.w.s 153A