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

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

11. As submitted, the share transaction undertaken by the appellant was genuine and the exemption claimed under section 10(38) on gain arising from sale of listed shares was fully in conformity with the provisions of the Act. 12. In the previous year relevant to the assessment year 2015-16, the appellant filed return declaring income of Rs.1

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

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

11. As submitted, the share transaction undertaken by the appellant was genuine and the exemption claimed under section 10(38) on gain arising from sale of listed shares was fully in conformity with the provisions of the Act. 12. In the previous year relevant to the assessment year 2015-16, the appellant filed return declaring income of Rs.1

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

4. Section 50C of the Act provides for special provision for full value of consideration in certain cases. Sub-section (1) of section 50C provides for the adoption of the value taken by the Stamp Valuation Authority for the purpose of stamp duty as the full value of consideration of the transferred asset for the purpose of section

HARYANA BUILDING AND OTHER CONSTRUCTION WORKERS WELFARE BOARD,PANCHKULA vs. DCIT, EXEMPTION, CHANDIGARH

In the result, this appeal of the Assessee stands dismissed

capital receipts, not as income.\n•\nThe Board acts merely as a custodian/trustee of these amounts. Since it\nhas no beneficial ownership or discretion to treat these funds as its\nown, the cess does not accrue as income in real terms.\nExemption under Section 11 & 12AA\n•\nFor charitable institutions, Section 11 specifically exempts income in\nthe form of voluntary

HARYANA BUILDING AND OTHER CONSTRUCTION WORKERS WELFARE BOARD,PANCHKULA vs. DCIT, EXEMPTION, SECTOR 17

In the result, this appeal of the Assessee stands dismissed

capital receipts, not as income.\n•\nThe Board acts merely as a custodian/trustee of these amounts. Since it\nhas no beneficial ownership or discretion to treat these funds as its\nown, the cess does not accrue as income in real terms.\nExemption under Section 11 & 12AA\n•\nFor charitable institutions, Section 11 specifically exempts income in\nthe form of voluntary

HARYANA BUILDING AND OTHER CONSTRUCTION WORKERS WELFARE BOARD,PANCHKULA vs. CIT(EXEMPTION), CHANDIGARH

In the result, this appeal of the Assessee stands dismissed

capital receipts, not as income.\n•\nThe Board acts merely as a custodian/trustee of these amounts. Since it\nhas no beneficial ownership or discretion to treat these funds as its\nown, the cess does not accrue as income in real terms.\n\nExemption under Section 11 & 12AA\n\n•\nFor charitable institutions, Section 11 specifically exempts income in\nthe form

HARYANA BUILDING AND OTHER CONSTRUCTION WORKERS WELFARE BOARD,PANCHKULA vs. DCIT, EXEMPTION, CHANDIGARH

In the result, this appeal of the Assessee stands dismissed

capital receipts, not as income.\n\n•\nThe Board acts merely as a custodian/trustee of these amounts. Since it\nhas no beneficial ownership or discretion to treat these funds as its\nown, the cess does not accrue as income in real terms.\n\nExemption under Section 11 & 12AA\n\n•\nFor charitable institutions, Section 11 specifically exempts income in\nthe

AARTI 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)

4) of the I.T Act 1961 he stated that most of the companies were paper companies controlled and managed by various accommodation entry providers. These companies are not doing any actual work but they were used for provided long term capital gain entries to various beneficiaries." 4.15 The Assessing Officer has also relied upon the findings

SANJAY SINGAL (HUF),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)

4) of the I.T Act 1961 he stated that most of the companies were paper companies controlled and managed by various accommodation entry providers. These companies are not doing any actual work but they were used for provided long term capital gain entries to various beneficiaries." 4.15 The Assessing Officer has also relied upon the findings

AARTI 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)

4) of the I.T Act 1961 he stated that most of the companies were paper companies controlled and managed by various accommodation entry providers. These companies are not doing any actual work but they were used for provided long term capital gain entries to various beneficiaries." 4.15 The Assessing Officer has also relied upon the findings

SANJAY 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)

4) of the I.T Act 1961 he stated that most of the companies were paper companies controlled and managed by various accommodation entry providers. These companies are not doing any actual work but they were used for provided long term capital gain entries to various beneficiaries." 4.15 The Assessing Officer has also relied upon the findings

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)

4) of the I.T Act 1961 he stated that most of the companies were paper companies controlled and managed by various accommodation entry providers. These companies are not doing any actual work but they were used for provided long term capital gain entries to various beneficiaries." 4.15 The Assessing Officer has also relied upon the findings

AJMER SINGH,MOHALI vs. ITO, W-6(5), MOHAL

In the result, the appeal of the Revenue is dismissed

Bench: Disposal Of Appeal.”

Capital Gain' but 'income from other sources". The assessee's alternate plea that the entire sale proceeds would qualify as agricultural income does not hold in light of ITAT's clear cut finding that the proceeds, in excess of the amount considered for stamp duty valuation & consequent registration, shall partake the character of 'income from other sources' and assessed

ITO, W-6(5), MOHALI vs. SMT. GURDEV KAUR, KHARAR

In the result, the appeal of the Revenue is dismissed

Bench: Disposal Of Appeal.”

Capital Gain' but 'income from other sources". The assessee's alternate plea that the entire sale proceeds would qualify as agricultural income does not hold in light of ITAT's clear cut finding that the proceeds, in excess of the amount considered for stamp duty valuation & consequent registration, shall partake the character of 'income from other sources' and assessed

AJMER SINGH,MOHALI vs. ITO, W-6(5), MOHAL

In the result, the appeal of the Revenue is dismissed

Bench: Disposal Of Appeal.”

Capital Gain' but 'income from other sources". The assessee's alternate plea that the entire sale proceeds would qualify as agricultural income does not hold in light of ITAT's clear cut finding that the proceeds, in excess of the amount considered for stamp duty valuation & consequent registration, shall partake the character of 'income from other sources' and assessed

DEVI DAYAL,KAITHAL vs. INCOME TAX OFFICER, WARD-1 , KAITHAL

In the result, appeal is allowed

Bench: Shri Rajpal Yadav & Shri Krinwant Sahayआयकर अपील सं./ Ita No. 899/Chd/2024 "नधा"रण वष" / Assessment Year: 2008-09 Shri Devi Dayal, Vs The Ito, Pundri Anaj Mandi, Ward – 1, Kaithal-Haryana 136026. Kaithal. "थायी लेखा सं./Pan No: Aajpd5851H अपीलाथ"/Appellant ""यथ"/Respondent Assessee By : Shri Parikshit Aggarwal, Ca & Ms. Shruti Khandelwal, Advocate Revenue By : Shri Manav Bansal, Cit, Dr Date Of Hearing : 30.07.2025 Date Of Pronouncement : 08.09.2025

gains" shall be computed, by deducting from the full value of the consideration received or accruing as a result of the transfer of the capital asset the following amounts, namely: (i) expenditure incurred wholly and exclusively in connection with such transfer; (ii) the cost of acquisition of the asset and the cost of any improvement thereto:" 18. Section

ARJESH KUMAR,PATIALA vs. ITO NATIONAL E-ASSESSMENT CENTRE , DELHI

capital gain of that year shall be recomputed by taking the compensation or consideration as so reduced by such Court, Tribunal or other authority to be the full value of the consideration. For giving effect to such recomputation, the provisions of the newly inserted (with effect from 1-4-2004) section 155(16) by the Finance

RANJIT SINGH,PANCHKULA vs. DEPUTY DIRECTOR, CPC DEPARTMENT

Bench: SHRI. LALIET KUMAR (Judicial Member), SHRI. KRINWANT SAHAY (Accountant Member)

capital gain of that year shall be recomputed by taking the compensation or consideration as so reduced by such Court, Tribunal or other authority to be the full value of the consideration. For giving effect to such recomputation, the provisions of the newly inserted (with effect from 1-4-2004) section 155(16) by the Finance