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

24), Section 2(28A), Section 4, Section 10(37), Section 14, Section 45(5), Section 56(2)(viii), Section 145B(1) and Section 194LA of the Act makes it abundantly clear that any income which arises or is deemed to arise or accrue in India is chargeable to tax in the hands

MEASAGE G. G OILS & FATS PRIVATE LIMITED,BATHINDA vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE- 1 , BATHINDA

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

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjeei.T.A. No.189/Asr/2018 Assessment Years: 2014-15

section 68 of the Act. The argument of the sum not representing ‘real income’, though not specifically advanced before us, is implicit in the argument advanced with reference to the genuineness of the loan/ advance, and therefore considered. The same would not carry the assessee’scase further, as would even otherwise be apparent from the host of decisions

MESERS G.G CONTINEENTAL TRADES PVT.LTD,BATHINDA vs. DEPUTY COMMISSIONER OF INCOME TAX , CIRCLE-I, BATHINDA

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

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjeei.T.A. No.189/Asr/2018 Assessment Years: 2014-15

section 68 of the Act. The argument of the sum not representing ‘real income’, though not specifically advanced before us, is implicit in the argument advanced with reference to the genuineness of the loan/ advance, and therefore considered. The same would not carry the assessee’scase further, as would even otherwise be apparent from the host of decisions

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

24 Assessment Year: 2017-18 show an defect in assessee's records or in books of account maintained by assessee, section 145 could not be invoked for rejecting books of account.” iv. Agarwal Transport Service vs. DCIT [2017] 88 taxmann.com 660 (Jodhpur - Trib.) Section 145 of the Income-tax Act, 1961 - Method of accounting - Rejection of accounts (Others

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

68. 3.9 At this juncture it may be relevant to discuss the interface of section 2(24)(iia) – defining

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

2] [In favour of assessee]" ii. Judgment in the case of Kesharwani Sheetalaya Sahsaon v. Commissioner of Income Tax reported in [2020] 116 taxmann.com 382 (Allahabad) of HIGH I.T.A. No.117/Asr/2022 21 Assessment Year: 2017-18 COURT OF ALLAHABAD and the relevant portion of the judgment is reproduced as below: “section 68 of the Income-tax Act, 1961 - Cash credits

MAX FINANCIAL SERVICE LIMITED ,NAWANSHAHR vs. PRINCIPAL COMMISSIONER OF INCOME TAX -1, JALANDHAR

In the result, the appeal of the assessee is therefore partly allowed

Section 56(2)(viia) are not applicable on the Assessee Commissioner with respect to both of the aforementioned subject sale transactions. However the assessee has failed to consider that the assessee has also purchased 2323 shares of M/s Neeman Medical International BV (Neeman BV) on 31-03- 2014. The AO has also failed to examine

MESERS P.D SEKHSARIA TRADING COMPANY ,BATHINDA vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1, BATHINDA

In the result, the appeal of the assessee is allowed and the Stay Petition of the assessee is dismissed

Bench: Sh. N. S. Saini & Sh. N. K. Choudhryita No. 331/Asr./2018 : Asstt. Year : 2014-15 M/S P. D. Sekhsaria Trading Vs Dy. Commissioner Of Income Company Pvt. Ltd., 4242, Tax, Circle-I, Ground Floor, Gurudwara Singh Bathinda, Punjab Sabha Street, Bathinda, Punjab (Appellant) (Respondent) Pan No. Aabcp1720E Sa No. 03/Asr./2019 (In Ita No. 331/Asr./2018: Asstt. Year : 2014-15) M/S P. D. Sekhsaria Trading Vs Dy. Commissioner Of Income Company Pvt. Ltd., 4242, Tax, Circle-I, Ground Floor, Gurudwara Singh Bathinda, Punjab Sabha Street, Bathinda, Punjab (Appellant) (Respondent) Pan No. Aabcp1720E Assessee By : Shri. Salil Kapoor, Adv. & Shri. Sanat Kapoor, Adv. Revenue By : Shri. M. P. Singh, Cit Dr Date Of Hearing :20.02.2019 Date Of Pronouncement : 19.03.2019 Order Per N. S. Saini: This Is An Appeal Filed By The Assessee Against The Order Of Cit(A), Bathinda Dated 26.03.2018. 2. The Assessee Has Raised Following Grounds Of Appeal: “1. That On The Facts & Circumstances Of The Case The Addition/Disallowance Of Rs.4,69,47,808/- Made

24 SA No. 03/Asr./2019 P.D. Sekhsaria Trading Company Pvt. Ltd. above it will be very clear that the notification dated 27.11.2013 would be applicable for entire assessment year 2014-15 and not to the part assessment year. This interpretation will be correct because rules are supplemental to the main act and such sub ordinate legislations cannot override the principle

SHRI RAVINDER SACHDEVA,AMRITSAR vs. INCOME TAX OFFICER WARD -5 (4), AMRITSAR

In the result, the appeal of the assesse is allowed for statistical

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

2 is concerned, apparently when the Tribunal has found as a fact that the assessee was receiving money from the customers in hands against the payment on delivery of the vehicles on receipt from the dealer the question of such amount standing in the hooks of account of the assessee would not attract section 68 because the cash deposit

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

24 per cent. Therefore, taking into consideration the average yield in the last assessment years, the Assessing Officer treated the same as unexplained income and made the additions of Rs. 17.50 crores under section 69C. The Tribunal has concurred with the said findings. As observed hereinabove, solely relying upon the statements of the Typist and the Chartered Accountant

M/S G G OILS & FATS PVT.LTD ,BATHINDA vs. DEPUTY COMMISSIONER OF INCOME TAX, BATHINDA

In the result, the assessee’s appeal is dismissed

Bench: Sh. Sanjay Arora & Sh. N. K. Choudhryi. T. A. No. 508/Asr/2017 Assessment Year: 2014-15

section 115-O;’ It is thus only the dividend declared, distributed or paid by a company, on which tax u/s. 115-O has been suffered, that falls u/s. 10(34), and would therefore not stand to be assessed u/s. 2(24)(ii) r/w s. 56 of the Act. The said dividend would only be that envisaged u/s. 2

THE DHAMAI COOPERATIVE AGRICULTURE SERVICE SOCIETY LIMITED,HOSHIARPUR vs. INCOME TAX OFFICER , HOSHIARPUR

In the result, the appeals filed by the appellant are allowed and the order(s) of the Kerala High Court and other authorities to the contrary are set aside

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjeei.T.A. No.273/Asr/2023 Assessment Year: 2017-18

24,63,842 52,086 Jalandhar Central Coop. Bank, Rama Mandi, Jalandhar The Citizen 1,29,123 8982 - urban Coop. Bank Ltd., Jalandhar Interest from 2,68,544 members Total 36,26,039/- 61,068/- 2,68,544/- Thus, it is clear that the assessee has parked its surplus/idle funds with the aforesaid banks and is earning huge interest income

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

2. That the Ld. CIT(A) has failed to appreciate that the amount of loan was received from the above said parties during the year under consideration through banking channels and the same was paid back through banking channels during the same year and, as such, the confirmation of addition as made by the Ld. CIT(A) is against

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

2. That the Ld. CIT(A) has failed to appreciate that the amount of loan was received from the above said parties during the year under consideration through banking channels and the same was paid back through banking channels during the same year and, as such, the confirmation of addition as made by the Ld. CIT(A) is against

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

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

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

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

68. Ground of appeal No. 6 is allowed. 7. DISALLOWANCE U/S 40A(3) : Shri Puneet Sehdev Vs. ITO, Ward 2(2), Jammu – A.Y 2008-09 & A.Y 2009-10- ITA No. 305/Asr/2015 & ITA No. 05/Asr/2013 Shri Puneet Sehdev Vs. ITO, Ward 2(2), Jammu –A.Y 2009-10- ITA No.579/Asr/2016 11 ITO, Ward 2(2), Jammu Vs. Puneet Sehdev

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

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

68. Ground of appeal No. 6 is allowed. 7. DISALLOWANCE U/S 40A(3) : Shri Puneet Sehdev Vs. ITO, Ward 2(2), Jammu – A.Y 2008-09 & A.Y 2009-10- ITA No. 305/Asr/2015 & ITA No. 05/Asr/2013 Shri Puneet Sehdev Vs. ITO, Ward 2(2), Jammu –A.Y 2009-10- ITA No.579/Asr/2016 11 ITO, Ward 2(2), Jammu Vs. Puneet Sehdev