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

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 68 was to be deleted.” I.T.A. No.117/Asr/2022 25 Assessment Year: 2017-18 2ND ISSUE AMOUNT RAISED THROUGH UNSECURED LOAN:- 5. Next issue is related to the amount raise through unsecured loan. The ld. Counsel further argued that both in assessing authority and before the Revisional Authority the assessee has submitted the details related to the loan creditors

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

section 68 to be invoked. In the circumstances, the AO's action in treating the aforesaid credit of Rs.2,55,45

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

45. The DR submitted that Authorized Reprehensive of the Assessee has raised the point that commodities transaction tax is not applicable to agriculture Commodities. This itself made it ITA No. 331/Asr./2018 31 SA No. 03/Asr./2019 P.D. Sekhsaria Trading Company Pvt. Ltd. clear that the said transactions in the commodity derivatives are speculative, as it was very much clear

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

45)/4/5 of the IT. Act yet that does not mean that income assessable under section 68 has to be assessed

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 of the Act and without considering the facts that no books of accounts have been maintained by the assessee. 7. That the appellant craves the leave to add, modify, amend or delete any of the grounds of appeal at the time of hearing and all the above grounds are without prejudice to each other.” The facts of the case

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 of the Act and without considering the facts that no books of accounts have been maintained by the assessee. 7. That the appellant craves the leave to add, modify, amend or delete any of the grounds of appeal at the time of hearing and all the above grounds are without prejudice to each other.” The facts of the case

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

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 of a resident assessee. (v) The definition of “interest” under Section 2(28A) specifically includes

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. Copy of the decision is enclosed at page no. 91. The view of the Delhi High Court in this case has been endorsed by the Supreme Court as the SLP of the revenue was dismissed and stands reported at 380 ITR 64 (Statute). Copy of the order is enclosed at page no. 92. In view

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. Copy of the decision is enclosed at page no. 91. The view of the Delhi High Court in this case has been endorsed by the Supreme Court as the SLP of the revenue was dismissed and stands reported at 380 ITR 64 (Statute). Copy of the order is enclosed at page no. 92. In view

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. Copy of the decision is enclosed at page no. 91. The view of the Delhi High Court in this case has been endorsed by the Supreme Court as the SLP of the revenue was dismissed and stands reported at 380 ITR 64 (Statute). Copy of the order is enclosed at page no. 92. In view

M/S CONTINENTAL CONSTRUCTION COMPANY ,JAMMU vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1, JAMMU

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

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

45 taxmann.com 65 (Gujarat), Held “Section 68 of the Income-tax Act, 1961 - Cash credit (In case firm partners

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

45-53). It was explained by Sh. Arora that the credits represent the advances against supplies, which were made in the following year, adjusting the entire credit/s, referring to the ledger accounts of the said parties for the subsequent year at pgs. 17 to 20 of the assessee’s paper-book, as well as the copies of the sale bills

SHRI GAMDOOR SINGH ,MANSA vs. INCOME TAX OFFICER WARD- 1 (5), MANSA

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

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

section 68 are not applicable as the assessee appellant has made re- payment of loan taken from the bank against limit. As such addition of Rs. 9,10,000/- confirmed by the Ld. CIT(A) is unjustified and bad in law. The same be deleted. 3 I.T.A. No. 149/Asr/2023 Gamdoor Singh v. ITO 6. That the appellant craves

M/S BLUE CITY TOWNSHIP & COLONIZERS,AMRITSAR. vs. THE INCOME TAX OFFICER,, AMRITSAR.

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

45. Reasons to believe are there. The reasons are based on tangible material. The return and account books of assessee had not undergone scrutiny at the time of assessment. The information is specific and not vague. A reasonable person can form an opinion on the basis of the material. The information received could form the basis of reason to believe

H. N. AGRI SERVICE PRIVATE LIMITED,SRINAGAR vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE, JAMMU

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

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

45,50,000/- out of that in Pulwama Branch amount to Rs. 42,50,000/- & in New Delhi Branch amount to Rs. 6,03,00,000/-. As per the information from bankers Rs.32,50,000/- was demonetised currency (SBN) and rest amount was deposited on normal currency. Toconsider the demand of the parties, the cash was immediately received from

ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE, JAMMU vs. M/S HN AGRI SERVE PRIVATE LIMITED, SRINAGAR

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

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

45,50,000/- out of that in Pulwama Branch amount to Rs. 42,50,000/- & in New Delhi Branch amount to Rs. 6,03,00,000/-. As per the information from bankers Rs.32,50,000/- was demonetised currency (SBN) and rest amount was deposited on normal currency. Toconsider the demand of the parties, the cash was immediately received from

INCOME TAX OFFICER,WARD 1 (2), BATHINDA vs. MESERS SHREE BHAGWATI COTTON TRADERS ,, BATHINDA

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

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

45,20,115/- is deleted.” 10. The ld. Counsel further relied on the order of Hon’ble Supreme Court in the case of PCIT, Surat-1 vs. TejuaRohitkumar Kapadia, (2018) 94 taxmann.com325 (SC) held: I.T.A. No. 479/Asr/2018 13 &I.T.A. No. 480/Asr/2018 “Section 69C of the income-tax Act, 1961 - Unexplained expenditure (Bogus purchases) -Assessing Officer had disallowed some expenditure

MESERS SHREE BHAGWATI COTTON TRADERS,BATHINDA vs. INCOME TAX OFFICER,WARD 1 (2), BATHINDA

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

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

45,20,115/- is deleted.” 10. The ld. Counsel further relied on the order of Hon’ble Supreme Court in the case of PCIT, Surat-1 vs. TejuaRohitkumar Kapadia, (2018) 94 taxmann.com325 (SC) held: I.T.A. No. 479/Asr/2018 13 &I.T.A. No. 480/Asr/2018 “Section 69C of the income-tax Act, 1961 - Unexplained expenditure (Bogus purchases) -Assessing Officer had disallowed some expenditure