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

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

68, 69A, 69B, 69C or 69D. Reliance is being placed on following case laws:- ITA 260/Amr/2019 8 a) DEV RAJ HI-TECH MECHINES LTD. vs.DEPUTY COMMISSIONER OF INCOME TAX (2015) 174 TTJ 0009 (Asr) ((UO)) Unexplained Income—Income from undisclosed sources—Assessee was a Manufacturer of Rice Sheller Machineries and its parts—A survey was carried out on the premises

SHRI RAJ KUMAR ( M/S RADHIKA SALES CORP ), AMRITSAR vs. INCOME TAX OFFICER WARD- 3 (3), AMRITSAR

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

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

68. 11. That the learned assessing Officer has erred in rejecting the books of accounts u/s145(3), without serving the show cause notice as embedded in Sec 144 read with Sec145(3). I.T.A. No.195/Asr/2022 4 Assessment Year: 2017-18 12. That the appellant craves leave to add, amend any ground of appeal.” 2. Brief facts of the case are that

M/S SANT BABA BHAG SINGH MEMORIAL CHARITABLE SOCIETY,JALANDHAR vs. D.C.I.T, CIRCLE - 1 (EXEMPTION), CHANDIGARH

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

Bench: Sh. Sanjay Arora & Sh. N. K. Choudhryi.T.A. No. 432/(Asr)/2017 Assessment Year: 2014-15

d), is irrelevant to the tax liability on such income. That is, the application of section 115BBC, prescribing tax liability with reference to anonymous donation, does not exclude the applicability of sections 11 and 12 of the Act qua such receipt (section 13(7)). In fact, the assessee’s claim of it being for corpus, and then

HOSHIARPUR TRADERS ,HOSHIARPUR vs. PRINCIPAL COMMISSIONER OF INCOME TAX -1, JALANDHAR

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

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

section 263 of the. I.T. Act, 1961. The assessment order is set aside to this extent, i.e., to the extent of the issues discussed above, to the file of the assessing officer to pass a fresh order after making necessary enquiries/investigations in the light of the discussions made above and after giving due opportunity of being heard

SHIROMANI GURDWARA PARBANDHAK COMMITTEE vs. COMMISSIONER OF INCOME TAX-I,

In the result the appeal of the Assessee is allowed

Bench: : Shri Laliet Kumar & Dr. Mitha Lal Meenav.S. Cit – I Shirmoni Gurdwara Parbandhak Committee Amritsar Teja Singh Mundri Hall Sri Amritsar Pan:Aants1981K (Appellant) (Respondent)

d. The elementary principle found in the Code ofCivil Procedurethat theRespondent who hasneither preferredhis own appeal nor filedcross-objections in the appeal preferred bythe appellant must be deemed to be satisfiedwith the decision of the lower authority and that hewill notbe entitled to seek relief against a rival party in an appeal preferredby thelatter,is equally applicable torevenue proceedings. Therefore

ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-1, JAMMU vs. M/S MOHD ASRAF SHEIKH, JAMMU

In the result, the appeal of the Revenue is allowed

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

d) 700000 Bilal Ahmed Kakroo (e) Shri Mir ShakeelAhmed 700000 (f) Mohd Mushtaq Ahmed 1595000 (g) 200000 Abdul Wahid Zargar (h) 300000 Smt Shamina Zohara (i) Namaz U1 Haq 3250000 (j) Ali Akhtar 900000 (k) Shri Ghulam Mohammad 4100000 Bhat (l) Manzoor Ahmed Bhat 850000 (m) 500000 Mahammad Hussain (n) Talat Parveen 3700000 (o) 550000 Shri Tarvez Khan

JASDEEP KAUR CHADHA-JALANDHAR,PUNJAB vs. JAO THE DCIT CIRCLE-4 JALANDHAR, PUNJAB

In the result, the appeal of the assessee is allowed and the revenue appeal is dismissed

Bench: Sh. Udayan Das Gupta & Sh. Khettra Mohan Roy

section 68 cannot be invoked. Further hon’ble Gujarat high court in the case of PCIT Vs. Ojas Tarmake Pvt. Ltd. (supra) has held that where major portion of the credit has been repaid during the year and the AO has accepted the debit entries as genuine, the Hon'ble court on the said facts ultimately affirmed the decision

ASSISTANT COMMISSIONER OF INCOME TAX, JALANDHAR vs. M/S JASDEEP KAUR CHADHA, JALANDHAR

In the result, the appeal of the assessee is allowed and the revenue appeal is dismissed

Bench: Sh. Udayan Das Gupta & Sh. Khettra Mohan Roy

section 68 cannot be invoked. Further hon’ble Gujarat high court in the case of PCIT Vs. Ojas Tarmake Pvt. Ltd. (supra) has held that where major portion of the credit has been repaid during the year and the AO has accepted the debit entries as genuine, the Hon'ble court on the said facts ultimately affirmed the decision

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

D-Mat statement etc. and there is nothing to pinpoint anything against the assessees., High court held that where assessee earned LTCG on sale of shares and AO denied said claim and made additions under section 68 on ground that assessee invested in shares of penny stock companies which provided bogus LTCG, since assessee failed to establish genuineness

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

D-Mat statement etc. and there is nothing to pinpoint anything against the assessees., High court held that where assessee earned LTCG on sale of shares and AO denied said claim and made additions under section 68 on ground that assessee invested in shares of penny stock companies which provided bogus LTCG, since assessee failed to establish genuineness

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

d) CIT vs. Kabul Chawla - 380 ITR 573 (Delhi High Court): The action of the ITAT in deleting the addition u/s 2(22)(e) since it was not based on any incriminating document seized during the search was upheld. Copy of the decision is enclosed at page no. 71 to 76. (e) CIT vs. Deepak Kumar Agarwal

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

d) CIT vs. Kabul Chawla - 380 ITR 573 (Delhi High Court): The action of the ITAT in deleting the addition u/s 2(22)(e) since it was not based on any incriminating document seized during the search was upheld. Copy of the decision is enclosed at page no. 71 to 76. (e) CIT vs. Deepak Kumar Agarwal

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

d) CIT vs. Kabul Chawla - 380 ITR 573 (Delhi High Court): The action of the ITAT in deleting the addition u/s 2(22)(e) since it was not based on any incriminating document seized during the search was upheld. Copy of the decision is enclosed at page no. 71 to 76. (e) CIT vs. Deepak Kumar Agarwal

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

5. The counsel for the assessee submitted that the order passed u/s 250(6) of the Income Tax Act, 1961 by the learned Commissioner of Income Tax (Appeals)-5, Ludhiana is against law and facts on the file in as much as he was not justified to uphold action of the learned Assessing Officer in treating the additional income

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

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

D E R PER RAVISH SOOD, JM The present appeal filed by the assessee is directed against the order passed by the CIT(A)-5, Ludhiana, dated 14.05.2019, which in turn arises from the order passed by the Assessing Officer u/s 153A/143(3) of the Income Tax Act, 1961 (for short ‘Act’), dated

SMT HARNEET KAUR JUNEJA,JALANDHAR vs. PRINCIPAL COMMISSIONER OF INCOME TAX -1, JALANDHAR

In the result, appeal of the assessees in ITA Nos

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

68, 69, 69A, 69B, 69C or 69D and reflected in the return of income furnished under section 139. Hence, tax on this income was to be charged under section 115BBE even if it had been declared by the assessee in the return of income. Income has been erroneously taxed at lower tax rate in this case causing prejudice

SHRI MANMOHAN SINGH KAPUR,HOSHIARPUR vs. PRINCIPAL COMMISSIONER OF INCOME TAX-1, JALANDHAR

In the result, appeal of the assessees in ITA Nos

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

68, 69, 69A, 69B, 69C or 69D and reflected in the return of income furnished under section 139. Hence, tax on this income was to be charged under section 115BBE even if it had been declared by the assessee in the return of income. Income has been erroneously taxed at lower tax rate in this case causing prejudice

SHRI SUKHJIT SINGH,HOSHIARPUR vs. PRINCIPAL COMMISSIONER OF INCOME TAX-1, JALANDHAR

In the result, appeal of the assessees in ITA Nos

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

68, 69, 69A, 69B, 69C or 69D and reflected in the return of income furnished under section 139. Hence, tax on this income was to be charged under section 115BBE even if it had been declared by the assessee in the return of income. Income has been erroneously taxed at lower tax rate in this case causing prejudice

HINDVEE SMALL FINANCE LIMITED,JAIPUR vs. ITO WARD 1(3) JAMMU, JAMMU

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

Bench: Sh. Udayan Dasgupta & Sh. Krinwant Sahay

section 69 of the Act. Thus to this extent the impugned addition of Rs.50,90,194/- is legally incorrect and the same deserves to be deleted on this sole ground. . The Authorities Below did not dispute the sale of the Vehicles a sale (c) proceeds etc. as recorded in the Audited Books at any stage in any manner. Thus