SH. SANJAY SINGAL,CHANDIGARH vs. DCIT, CC-1, CHANDIGARH

Bench: S/Shri N.K. Saini, Vice- & Rajpal Yadav, Vice-

29. In view of the above, the AO issued a show cause notice to the assessee, proposing to treat the amount of impugned long-term capital gain as unexplained cash credit under section 68 of the Act. 30. In response to such show cause notice, the assessee submitted that he acquired the shares of PIL as share warrant which were

SMT. AARTI SINGAL,CHANDIGARH vs. DCIT, CC-1, CHANDIGARH

Bench: S/Shri N.K. Saini, Vice- & Rajpal Yadav, Vice-

29. In view of the above, the AO issued a show cause notice to the assessee, proposing to treat the amount of impugned long-term capital gain as unexplained cash credit under section 68 of the Act. 30. In response to such show cause notice, the assessee submitted that he acquired the shares of PIL as share warrant which were

SMT. AARTI SINGAL,CHANDIGARH vs. DCIT, CC-1, CHANDIGARH

Bench: S/Shri N.K. Saini, Vice- & Rajpal Yadav, Vice-

29. In view of the above, the AO issued a show cause notice to the assessee, proposing to treat the amount of impugned long-term capital gain as unexplained cash credit under section 68 of the Act. 30. In response to such show cause notice, the assessee submitted that he acquired the shares of PIL as share warrant which were

SH. SANJAY SINGAL,CHANDIGARH vs. DCIT, CC-1, CHANDIGARH

Bench: S/Shri N.K. Saini, Vice- & Rajpal Yadav, Vice-

29. In view of the above, the AO issued a show cause notice to the assessee, proposing to treat the amount of impugned long-term capital gain as unexplained cash credit under section 68 of the Act. 30. In response to such show cause notice, the assessee submitted that he acquired the shares of PIL as share warrant which were

SH. ANIKET SINGAL,CHANDIGARH vs. DCIT, CC-1, CHANDIGARH

Bench: S/Shri N.K. Saini, Vice- & Rajpal Yadav, Vice-

29. In view of the above, the AO issued a show cause notice to the assessee, proposing to treat the amount of impugned long-term capital gain as unexplained cash credit under section 68 of the Act. 30. In response to such show cause notice, the assessee submitted that he acquired the shares of PIL as share warrant which were

SMT. AARTI SINGAL,CHANDIGARH vs. DCIT, CC-1, CHANDIGARH

Bench: S/Shri N.K. Saini, Vice- & Rajpal Yadav, Vice-

29. In view of the above, the AO issued a show cause notice to the assessee, proposing to treat the amount of impugned long-term capital gain as unexplained cash credit under section 68 of the Act. 30. In response to such show cause notice, the assessee submitted that he acquired the shares of PIL as share warrant which were

SH. SANJAY SINGAL HUF,CHANDIGARH vs. DCIT, CC-1, CHANDIGARH

Bench: S/Shri N.K. Saini, Vice- & Rajpal Yadav, Vice-

29. In view of the above, the AO issued a show cause notice to the assessee, proposing to treat the amount of impugned long-term capital gain as unexplained cash credit under section 68 of the Act. 30. In response to such show cause notice, the assessee submitted that he acquired the shares of PIL as share warrant which were

SH. SANJAY SINGAL,CHANDIGARH vs. DCIT, CC-1, CHANDIGARH

Bench: S/Shri N.K. Saini, Vice- & Rajpal Yadav, Vice-

29. In view of the above, the AO issued a show cause notice to the assessee, proposing to treat the amount of impugned long-term capital gain as unexplained cash credit under section 68 of the Act. 30. In response to such show cause notice, the assessee submitted that he acquired the shares of PIL as share warrant which were

SH. JAI RAM,JAGADHARI vs. ITO, YAMUNANAGAR

In the result, both the appeal of different assessees are allowed

Bench: Shri Sanjay Garg & Dr. B.R.R. Kumar

10. This appeal by assessee has been directed against the order of ld. CIT(Appeals) Panchkula dated 16/09/2015 for assessment year 2007-08. 13. In ground Nos.1, 2 & 3, assessee challenged the order of ld. CIT(Appeals) in upholding the addition of Rs. 1,88,43,554/- on account of long term capital gain on sale of agricultural land

SH. AMAR SINGH,JAGADHARI vs. ITO, YAMUNANAGAR

In the result, both the appeal of different assessees are allowed

Bench: Shri Sanjay Garg & Dr. B.R.R. Kumar

10. This appeal by assessee has been directed against the order of ld. CIT(Appeals) Panchkula dated 16/09/2015 for assessment year 2007-08. 13. In ground Nos.1, 2 & 3, assessee challenged the order of ld. CIT(Appeals) in upholding the addition of Rs. 1,88,43,554/- on account of long term capital gain on sale of agricultural land

RAJNI JAIN,BATHINDA vs. PR.CIT(CENTRAL), LUDHIANA

Bench: Shri N.K. Saini & Shri Sudhanshu Srivastava

10(36) of the Assessee in the earlier years and on the basis of the surrender made in the earlier years (which was factually incorrect) setting-aside the issue to the file of the Assessing Officer. It was submitted that on the issue of unsecured loans as well as deduction claimed u/s 57 of the Act, the Ld. PCIT

SHRI SANJAY JAIN,BATHINDA vs. PR.CIT(CENTRAL), LUDHIANA

Bench: Shri N.K. Saini & Shri Sudhanshu Srivastava

10(36) of the Assessee in the earlier years and on the basis of the surrender made in the earlier years (which was factually incorrect) setting-aside the issue to the file of the Assessing Officer. It was submitted that on the issue of unsecured loans as well as deduction claimed u/s 57 of the Act, the Ld. PCIT

TARUN JAIN,BATHINDA vs. PR.CIT(CENTRAL), LUDHIANA

Bench: Shri N.K. Saini & Shri Sudhanshu Srivastava

10(36) of the Assessee in the earlier years and on the basis of the surrender made in the earlier years (which was factually incorrect) setting-aside the issue to the file of the Assessing Officer. It was submitted that on the issue of unsecured loans as well as deduction claimed u/s 57 of the Act, the Ld. PCIT

M/S SANJAY SINGAL HUF,CHANDIGARH vs. DCIT, CC-1, CHANDIGARH

Bench: SHRI A.D.JAIN (Vice President), SHRI KRINWANT SAHAY (Accountant Member)

section 10(38) of the Act in respect of long-term capital gains earned on transfer of shares held in M/s Maa Jagdambe Trade Link Limited, as under: Name of No. of Purchase of shares Sale of shares Long term Share shares Date of Cost Price Date of Sale Price capital gain Sale purchase Maa 18.75.000 12.03.2013 Rs.37,50.000 Various

SANJAY SINGAL,CHANDIGARH vs. DEPUTY COMMISSIONER OF INCOME TAX, CC-1, CHANDIGARH

Bench: SHRI A.D.JAIN (Vice President), SHRI KRINWANT SAHAY (Accountant Member)

section 10(38) of the Act in respect of long-term capital gains earned on transfer of shares held in M/s Maa Jagdambe Trade Link Limited, as under: Name of No. of Purchase of shares Sale of shares Long term Share shares Date of Cost Price Date of Sale Price capital gain Sale purchase Maa 18.75.000 12.03.2013 Rs.37,50.000 Various

S.SURJIT SINGH,LUDHIANA vs. PR.CIT-1, LUDHIANA

In the result, appeal of the Assessee is allowed

Bench: Smt.Diva Singh & Shri Vikram Singh Yadav

29,63,696/- was transferred on 22/09/2014 from capital gain account to saving account No. 01030100004075 and subsequently Rs. 15,00,000/- transferred on 22/09/2014 in the bank account maintained by M/s Bali Ram Surjit Singh out of which Rs. 7,00,000/- was stated to be withdrawn for the purchase of property

SAHIBZADA TIMBER AND PLY PRIVATE LIMITED ,MOHALI vs. DCIT, ACIT CENTRAL CIRCLE-2, CHANDIGARH, CHANDIGARH

In the result, the appeal of the assessee is dismissed

Bench: SHRI. VIKRAM SINGH YADAV, AM आयकर अपील सं./ ITA No. 699/Chd/2024 निर्धारण वर्ष / Assessment Year : 2019-20 M/s Sahibzada Timber & Ply Private Limited B41-42, Phase-3, Indl. Aera, SAS Nagar Mohali, Punjab बनाम The DCIT Central Circle-2 Chandigarh स्थायी लेखा सं./PAN NO: AAQCS2239G अपीलार्थी/Appellant प्रत्यर्थी/Respondent निर्धारिती की ओर से/Assessee by : Shri Mohit Dhiman, C.A राजस्व की ओर से/ Revenue by : Dr. Ranjeet Kaur, Sr. DR Shri Dharam Vir, Addl. CIT, Sr.DR सुनवाई की तारीख/Date of He

10 the Appellate Tribunal has observed that under Section 12-B(2) of the Income Tax Act, the Income Tax Officer has to compute the capital gains after making certain deductions from the full value of the consideration for the sale and he therefore has a right to know the full value. The Appellate Tribunal added: "The assesses cannot shut

ANIKET SINGAL,NEW DELHI vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, CHANDIGARH, CHANDIGARH

In the result, assessee’s appeals are allowed

Bench: SHRI. RAJPAL YADAV (Vice President), SHRI. KRINWANT SAHAY (Accountant Member)

Section 69C of the Act, on account of alleged unaccounted commission paid by the assessee at the rate of 6.5% for the purpose of earning Long Term Capital Gains. 9.1 We find from the record that the entire addition has been made by the Assessing Officer on the basis of the same arguments, information, evidence including findings of search