INCOME TAX OFFICER, WARD-1(3), LUDHIANA, LUDHIANA vs. SHREE BALAJI PROCESSORS, LUDHIANA

In the result, appeal of the Revenue is dismissed whereas, the 29

Bench: Shri A.D. Jain & Dr Krinwant Sahayआयकर अपील सं./ Ita No. 499/Chd/2023 "नधा"रण वष" / Assessment Year : 2017-18 The Ito, Vs. Shree Balaji Processors, बनाम Ward-1(3), Tajpur Road, Ludhiana Opp. Central Jail, Ludhiana 141010 "थायी लेखा सं./Pan No: Actfs8428B अपीलाथ"/ Appellant ""यथ"/ Repsondent & C.O. No. 09/Chd/2024 ( In आयकर अपील सं./ Ita No. 499/Chd/2023) "नधा"रण वष" / Assessment Year : 2017-18 Shree Balaji Processors, Vs. The Ito, बनाम Tajpur Road, Ward-1(3), Opp. Central Jail, Ludhiana Ludhiana 141010 "थायी लेखा सं./Pan No: Actfs8428B अपीलाथ"/ Appellant ""यथ"/ Repsondent ( Physical Hearing ) "नधा"रती क" ओर से/Assessee By : Shri Sudhir Sehgal, Advocate राज"व क" ओर से/ Revenue By : Smt. Kusum Bansal, Cit Dr सुनवाई क" तार"ख/Date Of Hearing : 26.06.2024 उदघोषणा क" तार"ख/Date Of Pronouncement : 20.08.2024

demonetization period were made out of the regular cash sales of the assessee which were duly recorded in the books of accounts including cash book and corresponding entries on account of deposit of cash were reflecting in the bank statement. The copy of cash book along with connected bank statements were also filed with the AO during the course

SH. GULSHAN KUMAR PROP. G.K. RESORTS,LUDHIANA vs. DCIT CIRCLE-2, LUDHIANA

In the result, the appeal of the assessee is allowed

Bench: Smt.Diva Singh & Shri Vikram Singh Yadavsh. Gulshan Kumar बनाम Deputy Commissioner Of Prop. G. K. Resorts House No. 3, Income Tax, Central Circle-2, Agar Nagar Extension, Ferospur Ludhiana Road, Ludhiana 1410212, Punjab "थायी लेखा सं./Pan No: Aaqpk1200Q

demonetization period, there was opening cash in hand of Rs. 94.39 lacs and the details thereof are as under:- Financial Year 2015-16 Amount (in Rs.) Opening cash as on 01.04.2015 as per cash 11,17,667/- (Page no. 59) book Add: Total Withdrawals (As per bank 25,24,500/- statement) Add: Rental Income (shown in ITR) (Page

SATISH KUMAR JAIN,AMBALA vs. INCOME TAX OFFICER WARD -4 AMBALA, AMBALA

The appeal stand partly allowed

Bench: Hon’Ble Shri Rajpal Yadav & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकर अपील सं. / Ita No.63/Chandi/2025 (िनधा"रण वष" / Assessment Year: 2017-18) & 2. आयकर अपील सं. / Ita No.362/Chandi/2025 (िनधा"रण वष" / Assessment Year: 2017-18) Shri Satish Kumar Jain Ito Ward-4 (Prop. Of M/S Jain Abhushan Bhandar) Ambala, Haryana - 133001 बनाम/ C/O Rajiv Goel & Associates (Ca) Vs. 179 Bank Road, Ambala Cantt. Haryana – 133001 "थायीलेखासं./जीआइआरसं./Pan/Gir No. Acgpk-6011-K (अपीलाथ"/Appellant) (""थ" / Respondent) : अपीलाथ"कीओरसे/ Appellant By : Sh. Dhruv Goel (Ca) – Ld. Ar ""थ"कीओरसे/Respondent By : Sh. Dr. Ranjit Kaur (Addl.Cit) – Ld. Sr. Dr सुनवाईकीतारीख/Date Of Hearing : 12.02.2026 घोषणाकीतारीख /Date Of Pronouncement 24.02.2026 : आदेश / O R D E R Manoj Kumar Aggarwal () 1. In These Captioned Appeals For Assessment Year (Ay) 2017-18, The Assessee Is Aggrieved By Confirmation Of Quantum Addition As Well As Levy Of Penalty U/S 271Aac For Rs.2,77,868/-. First, We Take Up Quantum Appeal Ita No.63/Chandi/2025 Which Arises Out Of An Order

demonetization period which is stated to be sourced out of cash balance as available with the assessee in the cash book. The same has been accumulated out of cash sales, receipt from debtors etc. The same has not been accepted by Ld. CIT(A) on the allegation that the assessee manipulated books by inflating purchases and booking sales without details

SATISH KUMAR JAIN,SATISH KUMAR JAIN, JAIN ABHUSHAN BHANDAR, AMBALA vs. INCOME TAX OFFICER, WARD-4, AMBALA, INCOME TAX OFFICE, AMBALA

The appeal stand partly allowed

Bench: Hon’Ble Shri Rajpal Yadav & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकर अपील सं. / Ita No.63/Chandi/2025 (िनधा"रण वष" / Assessment Year: 2017-18) & 2. आयकर अपील सं. / Ita No.362/Chandi/2025 (िनधा"रण वष" / Assessment Year: 2017-18) Shri Satish Kumar Jain Ito Ward-4 (Prop. Of M/S Jain Abhushan Bhandar) Ambala, Haryana - 133001 बनाम/ C/O Rajiv Goel & Associates (Ca) Vs. 179 Bank Road, Ambala Cantt. Haryana – 133001 "थायीलेखासं./जीआइआरसं./Pan/Gir No. Acgpk-6011-K (अपीलाथ"/Appellant) (""थ" / Respondent) : अपीलाथ"कीओरसे/ Appellant By : Sh. Dhruv Goel (Ca) – Ld. Ar ""थ"कीओरसे/Respondent By : Sh. Dr. Ranjit Kaur (Addl.Cit) – Ld. Sr. Dr सुनवाईकीतारीख/Date Of Hearing : 12.02.2026 घोषणाकीतारीख /Date Of Pronouncement 24.02.2026 : आदेश / O R D E R Manoj Kumar Aggarwal () 1. In These Captioned Appeals For Assessment Year (Ay) 2017-18, The Assessee Is Aggrieved By Confirmation Of Quantum Addition As Well As Levy Of Penalty U/S 271Aac For Rs.2,77,868/-. First, We Take Up Quantum Appeal Ita No.63/Chandi/2025 Which Arises Out Of An Order

demonetization period which is stated to be sourced out of cash balance as available with the assessee in the cash book. The same has been accumulated out of cash sales, receipt from debtors etc. The same has not been accepted by Ld. CIT(A) on the allegation that the assessee manipulated books by inflating purchases and booking sales without details

RAJINDER KUMAR,CHANDIGARH vs. SURJEET KUAR, ITO WARD 1(2), CHANDIGARH

In the result, the appeal of the assessee is allowed

Bench: SHRI. VIKRAM SINGH YADAV (Accountant Member)

demonetization period and in response, the assessee submitted that he was engaged in the business of ticketing and money transfer; and has earned commission income thereon which has been duly reported in the return of income. On perusal of the return of income, the AO observed that the assessee has filed his return of income under Section 44AD

M/S VENKATESH TECHNOKRAFT PVT. LTD.,LUDHIANA vs. ITO, W-1(5), LUDHIANA

Bench: Him Which Is Arbitrary & Unjustified. 3. That The Assessment Order Having Been Passed By The Assessing Officer After Due Application Of Mind & Taking Into Consideration The Various Replies, Material On Record & Books Of Account, The Action Resorted To By The Commissioner Of Income Tax Is Unwarranted & Uncalled For.

demonetization, the assessee is unable to produce the directors, however that the A.O. may issue commission as per the provisions of the Income Tax Act, 1961. As regards proper investigation regarding receipt of share premium with respect of identity, creditworthiness and genuineness, that the A.O. had thoroughly investigated this issue, letter u/s 133(6) were issued to the investing companies