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 on account of huge cash amount deposited by assessee-jeweller in its bank account post demonetization, since assessee had explained source of said cash deposits as sales of jewellery, produced sale bills and admitted same as revenue receipt as well as offered it to tax and assessee also represented outgo of stocks which was matching with sales, impugned addition

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

21 Assessment Year: 2017-18 COURT OF ALLAHABAD and the relevant portion of the judgment is reproduced as below: “section 68

SH. FARUKH JEHAN ZEB ,SRINAGAR vs. INCOME TAX OFFICER, ANANT NAG

In the result, the appeal of the assessee is dismissed

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

21 Farukh Ahmad Zeb v. ITO quantum addition made on account of unexplained creditors/investments found in books of the assessee by mentioning wrong section u/s 68

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

section 115BBC cannot apply. 3.11 In view of the fore-going (including the preceding paragraphs), in our opinion, the Revenue has successfully impugned the transaction/s, stated as a donation/s, as a genuine transaction/s (also see para 4), so that it is liable to be taxed u/s. 115BBC and, in any case, u/s. 115BBE. We decide accordingly. 4. Finally

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

section 68 of the act is to the cash sales alleged to be claimed by the appellant assessee would require fresh adjudication as per law. In our view, the authorities below are not justified in rejecting the claim of the appellant arbitrary without bringing on record corroborative documentary evidence rebutting the claim of the appellant of cash sales

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 could be made on account of such loan Judgment of Hon’ble ITAT Ahemdabad Bench in the case of DCIT vs. d. Tripoli Management Pvt. Ltd. in ITA No. 05/AHD/2024 vide order dated 01.08.2024. Judgment of Hon’ble ITAT Surat Bench in the case of Rajhans e. Construction (P.) Ltd. vs. ACIT as reported

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 could be made on account of such loan Judgment of Hon’ble ITAT Ahemdabad Bench in the case of DCIT vs. d. Tripoli Management Pvt. Ltd. in ITA No. 05/AHD/2024 vide order dated 01.08.2024. Judgment of Hon’ble ITAT Surat Bench in the case of Rajhans e. Construction (P.) Ltd. vs. ACIT as reported

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

68 were justified- 4. Suman Poddar Vs ITO Special Leave to Appeal (C) No. 26864 OF 2019, [2019] 112 taxmann.com 330 (SC)- Where High Court upheld Tribunal's order holding that assessee's claim for exemption under section 10(38) could not be allowed because share transactions 19 I.T.A. Nos. 346 & 347/Asr/2024 Assessment Years: 2014-15 & 2015-16 were

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

68 were justified- 4. Suman Poddar Vs ITO Special Leave to Appeal (C) No. 26864 OF 2019, [2019] 112 taxmann.com 330 (SC)- Where High Court upheld Tribunal's order holding that assessee's claim for exemption under section 10(38) could not be allowed because share transactions 19 I.T.A. Nos. 346 & 347/Asr/2024 Assessment Years: 2014-15 & 2015-16 were

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

68, 69 to 69D of the Act to create a deeming fiction to tax any sum already credited / offered as income. Such recourse is unwarranted within the objectives to introduce this section 115BBE of the Act. The objects and reasons for amending the section 115BBE by the Taxation Laws (Second Amendment) Bill, 2016 was to prevent misuse

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

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

Section 68 of the Act. Therefore, on this count itself the impugned addition Rs.2,35,000/- deserves to be deleted. We thus ‘set aside’ the order of the CIT(A) and delete the addition of Rs.2,35,000/- sustained by him under Sec.68 of the Act. As we have quashed the addition of Rs. 2,35,000/- that

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

section 68. In all these cases it was held that no addition can be made in the hands of the assessee, if there is no incriminating ITA 728-731/Amr/2019 19 document found during the course of search pertaining to the year under consideration. In fact all the documents pertained to AY 2017-18, none was pertaining

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

section 68. In all these cases it was held that no addition can be made in the hands of the assessee, if there is no incriminating ITA 728-731/Amr/2019 19 document found during the course of search pertaining to the year under consideration. In fact all the documents pertained to AY 2017-18, none was pertaining

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

section 68. In all these cases it was held that no addition can be made in the hands of the assessee, if there is no incriminating ITA 728-731/Amr/2019 19 document found during the course of search pertaining to the year under consideration. In fact all the documents pertained to AY 2017-18, none was pertaining

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

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 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. KIRAN MAHAJAN,JAMMU vs. INCOME TAX OFFICER, WARD-1(2) JAMMU

In the result, the assessee’s appeal is allowed for statistical purposes

Bench: Sh. Sanjay Arora & Sh. N. K. Choudhryi.T.A. No. 319 & S.A. 15/(Asr)/2017 Assessment Year: 2012-13

section 68, it is in fact immaterial whether the amount credited continues to outstand as at the 14 Kiran Mahajan v. ITO year-end, or not, i.e., credit stand since neutralized, as by repayment of the money, or in any other manner. 5.4 It may, at this stage, also be relevant to, in view of the aforesaid facts, examine

NEERAJ KUMAR SETHI,DELHI vs. ITO, NATIONAL FACELESS APPEAL CENTRE (NFAC)

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

Bench: Sh. Manoj Kumar Aggarwal & Sh. Udayan Dasgupta

section bars the allowability of unexplained expenditure. 21. On the same issue he further relied on the decision of the Hon’ble Bombay High court in the case of PCIT vs Drisha Impex Pvt Ltd dated 7th April, 2025 (ITA No 1240 with ITA No 2087 of 2018), and submitted that the entire purchase being bogus needs