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14 results for “section 68”+ Section 214clear

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Key Topics

Section 26323Section 6818Section 143(3)16Section 115B15Addition to Income10Section 40A(3)7Section 69A6Section 142(1)5Cash Deposit5Section 250(6)

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

ITA 260/ASR/2019[2014-15]Status: DisposedITAT Amritsar16 Aug 2021AY 2014-15

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

Section 115Section 133ASection 142(1)Section 154Section 68Section 69Section 69ASection 69BSection 69CSection 69D

214 ITR 302 (Ker) ………………. That without prejudice to our submission that provisions of section 154/155 of the Act are not attracted in this case since there is no glaring mistake apparent from records, there is no obvious ITA 260/Amr/2019 6 mistake of fact or law from the record and issue is not debatable. However reply to proposed rectification

4
Unexplained Cash Credit4
Disallowance4

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

ITA 432/ASR/2017[2014-15]Status: DisposedITAT Amritsar27 Feb 2019AY 2014-15

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

For Appellant: Sh. J. S. Bhasin (Adv.)For Respondent: Sh. Sandeep Chauhan, CIT-DR
Section 115BSection 12ASection 133(6)Section 143(3)Section 68

214 ITR 801 (SC), a decision by the larger bench of the Apex Court, rendered in the context of section 68

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

ITA 73/ASR/2023[2020-21]Status: DisposedITAT Amritsar07 Jun 2023AY 2020-21

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

Section 115BSection 132ASection 139(1)Section 143(3)Section 69A

214 ITR 801 (SC), that "the apparent must be considered the real until it is shown that there are reasons to believe that the apparent is not the real and that the taxing authorities are entitled to look into the surrounding circumstances to find out the reality and the matter has to be considered by applying the test of human

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

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

ITA 719/ASR/2013[2007-08]Status: DisposedITAT Amritsar31 Jul 2018AY 2007-08

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

For Appellant: Sh. Rajeev K. Gubgotra (D.R.)For Respondent: Sh. Surinder Mahajan, (C.A.)
Section 131Section 143(3)Section 68Section 69

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

M/S. RAJ DEV ,KOTKAPURA vs. INCOME TAX OFFICER WARD-1, FARIDKOT

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

ITA 93/ASR/2023[2012-13]Status: DisposedITAT Amritsar10 Jul 2023AY 2012-13

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

For Appellant: Sh. Sudhir Sehgal, AdvocateFor Respondent: Sh. Pardeep Kumar, Sr. DR
Section 131Section 139Section 142(1)Section 144Section 250Section 68

68 sans valid and proper books of account of assessee is invalid - Held, yes [Paras 6.2, 6.4 and 8][ln favour of assessee] ii. Section 143 of the Income-tax Act, 1961 - Assessment (Cross examination) - Assessment year 2015-16 - Whether where Page 16 of 17 revenue strongly relies on statements of certain persons to implicate an assessee, principles

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

In the result, appeal of the assessees in ITA Nos

ITA 68/ASR/2022[2017-18]Status: DisposedITAT Amritsar22 Mar 2023AY 2017-18

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

For Appellant: Sh. Surinder Mahajan, CAFor Respondent: Smt. Balwinder Kaur, CIT-DR
Section 115BSection 143Section 143(3)Section 147Section 148Section 263Section 68

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

ITA 66/ASR/2022[2017-18]Status: DisposedITAT Amritsar22 Mar 2023AY 2017-18

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

For Appellant: Sh. Surinder Mahajan, CAFor Respondent: Smt. Balwinder Kaur, CIT-DR
Section 115BSection 143Section 143(3)Section 147Section 148Section 263Section 68

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

ITA 67/ASR/2022[2012-13]Status: DisposedITAT Amritsar22 Mar 2023AY 2012-13

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

For Appellant: Sh. Surinder Mahajan, CAFor Respondent: Smt. Balwinder Kaur, CIT-DR
Section 115BSection 143Section 143(3)Section 147Section 148Section 263Section 68

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

DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-3, AMRITSAR vs. SHRIMATI RAJ RANI ARORA, AMRITSAR

In the result, the appeal of the department is dismissed

ITA 10/ASR/2020[2014-15]Status: DisposedITAT Amritsar16 Jun 2023AY 2014-15

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

214 )= Rs. 67,16,786/-. 11 I.T.A. No. 10/Asr/2020 Dy. CIT v. Raj Rani Arora In the cash flow statement of Sh. Amandeep Singh for the F.Y. 2013-14 he has shown opening cash balance as on 01.04.2013 was of Rs. 31,01,679/-. The appellant has explained the generation of opening cashing hand as under

SH. YASH PAUL KHANNA PROP.,JALANDHAR vs. INCOME TAX OFFICER, JALANDHAR

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

ITA 211/ASR/2007[2001-02]Status: DisposedITAT Amritsar07 Oct 2025AY 2001-02

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

For Appellant: Sh. Y. K. Sud, C.A
Section 143(3)Section 234Section 250(6)Section 263

section quoted by the AO is 143(3) dated 03.02.2006, we find from records that in this case the original assessment was framed on 23.02.2024, u/s 143(3) on a total income of Rs.1,35,690/- (as against return income of Rs.1,06,150/- ), which has been subsequently set aside by the ld. CIT, Jalandhar-II, by invoking

INCOME TAX OFFICER, WARD-1, FARIDKOT, BSNL BUILDING vs. M/S VOHRA SOLVEX PVT. LTD, SADIQ ROAD

In the result, C.O. filed by the assessee is allowed

ITA 588/ASR/2024[2014-15]Status: DisposedITAT Amritsar29 Apr 2025AY 2014-15

Bench: Sh. Udayan Dasgupta & Sh. Krinwant Sahay

For Appellant: Sh. Sudhir Sehgal, A.R
Section 143(3)Section 148Section 250(6)Section 69C

section 68 solely on basis of information received from Investigation Wing that lenders from whom assessee-company acquired loans were indulged in bogus accommodation entries, since assessee was not granted an opportunity to cross-examine persons whose statements were recorded during Investigation, Impugned addition made on basis of such investigation which was not privy to assessee were

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

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

ITA 514/ASR/2017[2014-15]Status: DisposedITAT Amritsar25 May 2018AY 2014-15

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

For Appellant: Sh. P. N. Arora (Adv.)For Respondent: Sh. Charan Dass (D.R.)
Section 143(3)Section 28Section 40A(3)

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

THE DY. COMMISSIONER OF INCOME-TAX,, JAMMU vs. M/S. CONTINENTAL CONSTRUCTION CO,, JAMMU ( J&K)

In the result, the appeal filed by the assessee is allowed as well as the appeal filed the Revenue Department is dismissed and Cross Objection also stands disposed off

ITA 27/ASR/2013[2009-10]Status: DisposedITAT Amritsar18 Jan 2019AY 2009-10

Bench: Sh. Sanjay Arora & Sh. N.K.Choudhryita No.38(Asr)/2013 Assessment Year:2009-10

For Appellant: Sh. R.L. Gupta (Ld. Adv.)For Respondent: Sh. Charan Dass (Ld. DR)
Section 142(1)Section 250(6)Section 32(1)Section 36(1)(iii)Section 40Section 40A(3)Section 68

68 is on the assessee, which has not furnished any material in the assessment proceedings. However, it is not clear if the AO had in any of the notices u/s. 142(1) required the assessee to support its’ claim qua the said loan with any material/ evidence. This does not appear to be the case as there is no reference

M/S. CONTINENTAL CONSTRUCTION CO.,,JAMMU vs. THE DY. COMMISSIONER OF INCOME-TAX (HQRS), JAMMU

In the result, the appeal filed by the assessee is allowed as well as the appeal filed the Revenue Department is dismissed and Cross Objection also stands disposed off

ITA 38/ASR/2013[2009-10]Status: DisposedITAT Amritsar15 Jan 2019AY 2009-10

Bench: Sh. Sanjay Arora & Sh. N.K.Choudhryita No.38(Asr)/2013 Assessment Year:2009-10

For Appellant: Sh. R.L. Gupta (Ld. Adv.)For Respondent: Sh. Charan Dass (Ld. DR)
Section 142(1)Section 250(6)Section 32(1)Section 36(1)(iii)Section 40Section 40A(3)Section 68

68 is on the assessee, which has not furnished any material in the assessment proceedings. However, it is not clear if the AO had in any of the notices u/s. 142(1) required the assessee to support its’ claim qua the said loan with any material/ evidence. This does not appear to be the case as there is no reference