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241 results for “section 68”+ Section 9(1)(i)clear

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Key Topics

Addition to Income94Section 14783Section 6876Section 143(3)67Section 14866Section 153A53Section 25044Section 26341Section 69A33Disallowance

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

1).] Section 68, 69A, 69B, 69C, 69D refers to deemed income which reads as under:- 68. ……………. 69A. …………… 69B. ………… 69C. …………….. 69D. …………… 2) That briefly facts of the case are as under:- ITA 260/Amr/2019 7 Assessee is engaged in the business of manufacturing, and trading of hand tools at 789, Fazilpur, New Udyog Nagar, Randhawa Masandan Road, Jalandhar City under

Showing 1–20 of 241 · Page 1 of 13

...
27
Natural Justice25
Cash Deposit23

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

ITA 195/ASR/2022[2017-18]Status: DisposedITAT Amritsar11 Apr 2023AY 2017-18

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

Section 143(3)Section 145(3)Section 250oSection 68

9 the position of law that provisions of section 68 cannot be applied in respect of income from a source which has already been taxed which would amount to double taxation. a) To begin with, your Honor’s kind attention is drawn towards section 68 f the income tax act 1961 which is reproduced hereunder: - Cash credits

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

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

ITA 117/ASR/2022[2017-18]Status: DisposedITAT Amritsar11 Nov 2022AY 2017-18

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

Section 143(3)Section 263Section 263(1)

9, 2000 [Refer page no. 13-15 of judgement paper book] and the relevant portion is reproduced below: I.T.A. No.117/Asr/2022 23 Assessment Year: 2017-18 “Section 68 read with section 260A, of the Income-tax Act, 1961 - Cash credits - Assessment year 1989-90 Assessing Officer made additions to returned income of assessee-firm on account of unexplained cash

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

68 of the Income Tax Act. 4. That while confirming the above additions, the ld. CIT(A) failed to appreciate that the special provisions of section 115BEE read with section 68/69 were not applicable to the case of trust, inasmuch as, once the donations are held to be anonymous, the same are hit only by the provisions

SHRI OM PARKASH LEGAL HEIAR SMT PUSHPA VERMA,JALANDHAR vs. INCOME TAX OFFICER WARD-1(3), JALANDHAR

In the result, the assessee’s appeal is dismissed

ITA 756/ASR/2017[2014-15]Status: DisposedITAT Amritsar31 Oct 2018AY 2014-15

Bench: Sh. Sanjay Arorai.T.A. No. 756/Asr/2017 Assessment Year: 2014-15

For Appellant: Sh. Ashray Sarna (C.A.)For Respondent: Sh. Charan Dass (D.R.)
Section 143(3)Section 145(3)Section 41(1)Section 41(1)(a)Section 68

68, i.e., to explain the nature and source of the credit. The question therefore is if the initial onus on the Revenue to show the remission or cessation of a trading liability, for it to invoke the provision, is satisfied in the facts and circumstances of the case; the matter, as afore-noted, being essentially and primarily factual. This

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

In the result, the appeal of the assessee is dismissed

ITA 444/ASR/2017[2008-09]Status: DisposedITAT Amritsar03 Aug 2023AY 2008-09

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

For Appellant: Sh. Touseef Ahmad Khanday &For Respondent: Sh. S. M. Surendranath, Sr. DR
Section 142(1)Section 144Section 147Section 148Section 68

1. The impugned order passed by the Ld. CIT (Appeals) is bad both in law and facts since the appeal has been decided on the suspicion and wrong facts rather than verified facts. 9 Farukh Ahmad Zeb v. ITO 2. That the Ld. CIT(Appeals) has passed the order by ignoring the Jurisdictional ITAT bench judgment in the case

SHRI SATBIR SINGH BHULLAR,AMRITSAR vs. INCOME TAX OFFICER WARD- 5 (4), AMRITSAR

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

ITA 258/ASR/2022[2008-09]Status: DisposedITAT Amritsar02 Mar 2023AY 2008-09

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

Section 139(1)Section 147Section 148Section 250(6)Section 250oSection 68

section 68 was inapplicable for assessment of such gift in assessee’s hands - Held, yes 8. Assessee’s Ground No. 4 The ld. Counsel placed the argument related to Ground No. 4 Ground That CIT(A) has erred in confirming the addition of Rs. 737948/- on No 4 account of peak cash deposited in ICICI Bank Account

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

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

ITA 263/ASR/2022[2012-13]Status: DisposedITAT Amritsar20 Jun 2023AY 2012-13

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

For Appellant: Shri. P.N. Arora, AdvocateFor Respondent: Shri Pardeep Kumar, Sr. DR
Section 142(1)Section 144Section 147Section 148Section 234ASection 68

1) of the Act was issued and served upon the appellant. In response to this notice the submission was made. Further, even after repeated opportunities provided to the appellant through notices and summons u/s 131 of the Act and show cause notices no submissions were made. 8.2 The AO in his assessment order stated that:- 8.3 The appellant

SH. SATISH KUMAR,JALANDHAR vs. THE INCOME TAX OFFICER,, JALANDHAR

The appeal of the assessee is allowed

ITA 105/ASR/2017[2008-09]Status: DisposedITAT Amritsar15 Jan 2019AY 2008-09

Bench: Shri N.K. Saini & Shri Ravish Soodita No.105/Asr./2017 (Assessment Years: 2008-09)

For Appellant: Shri Ashray Sarna, A.RFor Respondent: Shri Bhavani Shankar, D.R
Section 143(2)Section 143(3)Section 68

1. That the order passed by the worthy CIT(A), Jalandhar dated 08.09.2016 is against the law and facts of the case. 2. That the worthy CIT(A), Jalandhar without appreciating the fact that cash deposit in bank belong to the other person, name & addresses of the said person was also furnished during the course of assessment proceeding by ignoring

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

In the result the appeal of the Assessee is allowed

ITA 530/ASR/2009[]Status: DisposedITAT Amritsar16 Aug 2021

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)

Section 10Section 12ASection 2Section 80Section 80GSection 80G(5)(iii)

1,92,56,552.00 0.00 20000000.00 4,83,33,518.00 Aid for Historical Building 50,19,247.24 79,10,434.50 8160302.47 42,14,782.26 Salary&OfficeExp. 7,27,17,732.00 8,67,06,385.11 97629965.84 10,94,78,247.00 TOTAL(B)…… 9,69,93,531.24 9,46,16,819.61 12,57,90,268.31 16,20,26,547.26 DM Aidfor Natural

DR. HARPRIT SINGH ,JALANDHAR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-II, JALANDHAR

In the result, the appeal of the assessee stands allowed

ITA 195/ASR/2018[2011-12]Status: DisposedITAT Amritsar19 Dec 2019AY 2011-12

Bench: Shri N.K. Choudhry & Shri O.P.Meenaआ.अ.संसंसंसं././././I.T.A No.195/Asr/2018 िनधा"रणवष"/A.Y.:2011-12 िनधा"रणवष" िनधा"रणवष" िनधा"रणवष" Dr. Harprit Singh, C/O M/S. Vs. Deputy Commissioner Of Orthonova Hospital, Near Nari Income-Tax, Niketan, Nakoddar Road, Central Circle –Ii, Jalandhar Jalandhar(Pb) (Pb) Pan: Acmps 7237 F अपीलाथ"Appellant अपीलाथ" ""यथ"/Respondent ""यथ" अपीलाथ" अपीलाथ" ""यथ" ""यथ"

Section 133(6)Section 143Section 147Section 148Section 68Section 69

1 to 4 are against the confirmation of addition of Rs.33,71,720 made on account of cash deposits in saving bank account and Rs. 12,528 being interest inspite of the facts to the AO Dr. Harprit Singh v. DCIT-CC-II, Jalandhar/I.T.A. No.195/ASR/2018/A.Y.:11-12 Page 2 of 11 has framed assessment by applying different possibilities and there

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

ITA 212/ASR/2019[2015-16]Status: DisposedITAT Amritsar26 Jul 2023AY 2015-16

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

For Appellant: Sh. Vinay Jamwal, CAFor Respondent: Smt. Ratinder Kaur, Sr. DR
Section 68

1 (SC) [1977] 107 ITR (SC) The Delhi High Court in C1T v. Oasis Hospitalities Pvt. Ltd. 5, held that: “The initial onus is upon the assessee to establish three things necessary to obviate the mischief of Section 68. Those are: (i) identity of the investors; (ii) their creditworthiness/investments; and (iii) genuineness of the transaction. Only when these three

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

1, Jalandharitself makes the order passed u/s 263 of the Act illegal and bad in law since provisions of section 68 of the Act are not attracted on cash deposits in saving bank account with banks. Reliance is being placed on a) COMMISSIONER OF INCOME TAX vs. BHAICHAND H. GANDHI HIGH COURT OF BOMBAY SOURCE

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

1, Jalandharitself makes the order passed u/s 263 of the Act illegal and bad in law since provisions of section 68 of the Act are not attracted on cash deposits in saving bank account with banks. Reliance is being placed on a) COMMISSIONER OF INCOME TAX vs. BHAICHAND H. GANDHI HIGH COURT OF BOMBAY SOURCE

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

1, Jalandharitself makes the order passed u/s 263 of the Act illegal and bad in law since provisions of section 68 of the Act are not attracted on cash deposits in saving bank account with banks. Reliance is being placed on a) COMMISSIONER OF INCOME TAX vs. BHAICHAND H. GANDHI HIGH COURT OF BOMBAY SOURCE

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

ITA 359/ASR/2025[2018-19]Status: DisposedITAT Amritsar22 Aug 2025AY 2018-19

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

Section 143(3)Section 68

section 68” 6.1 In this regard, it appears that these names and the amount have been taken from the 03 parties out of 07 are tabulated as under: Name of Person Amount Received Sh.Vinod Kumar 20,00,000/- Smt. Pawandeep Kaur 20,00,000/- Sh. Jagjit Singh 11,00,000/- 6.2 The ld. AO further observed that these parties

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

ITA 250/ASR/2025[2018-2019]Status: DisposedITAT Amritsar22 Aug 2025AY 2018-2019

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

Section 143(3)Section 68

section 68” 6.1 In this regard, it appears that these names and the amount have been taken from the 03 parties out of 07 are tabulated as under: Name of Person Amount Received Sh.Vinod Kumar 20,00,000/- Smt. Pawandeep Kaur 20,00,000/- Sh. Jagjit Singh 11,00,000/- 6.2 The ld. AO further observed that these parties

M/S FIL INDUSTRIES LTD,SRINAGAR vs. THE DY COMMISSIONER OF INCOME TAX, SRINAGAR

In the result appeal of the assessee ground no 4 to 4

ITA 417/ASR/2015[2010-11]Status: DisposedITAT Amritsar24 Feb 2023AY 2010-11

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

Section 143(3)Section 250Section 32Section 43(1)Section 80I

9] [In favour of assessee] v) I.T.A No. 679/Kol/2013 dated 27.02.2015 Universal Cables Ltd. vs. PC1T In view of the above facts and circumstances of the case and legal position explained by Hon'ble Supreme Court in the case of P. J. Chemicals Ltd. (supra), we are of the view that subsidy receipt should not be reduced from the actual

THE DY. COMMISSIONER OF INCOME TAX, JAMMU vs. M/S. FIL INDUSTRIES LTD, SRINAGAR

In the result appeal of the assessee ground no 4 to 4

ITA 470/ASR/2015[2009-10]Status: DisposedITAT Amritsar24 Feb 2023AY 2009-10

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

Section 143(3)Section 250Section 32Section 43(1)Section 80I

9] [In favour of assessee] v) I.T.A No. 679/Kol/2013 dated 27.02.2015 Universal Cables Ltd. vs. PC1T In view of the above facts and circumstances of the case and legal position explained by Hon'ble Supreme Court in the case of P. J. Chemicals Ltd. (supra), we are of the view that subsidy receipt should not be reduced from the actual

THE DY.COMMISSIONER OF INCOME-TAX, JAMMU vs. M/S FIL INDUSTRIES,, SRINAGAR

In the result appeal of the assessee ground no 4 to 4

ITA 294/ASR/2015[2008-09]Status: DisposedITAT Amritsar24 Feb 2023AY 2008-09

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

Section 143(3)Section 250Section 32Section 43(1)Section 80I

9] [In favour of assessee] v) I.T.A No. 679/Kol/2013 dated 27.02.2015 Universal Cables Ltd. vs. PC1T In view of the above facts and circumstances of the case and legal position explained by Hon'ble Supreme Court in the case of P. J. Chemicals Ltd. (supra), we are of the view that subsidy receipt should not be reduced from the actual