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

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

section 132(4), 131(IA) of the Act. Based on the above, it was In the cases of Shri Sanjay Singhal and Others Vs. DCIT, Chandigarh (9 Appeals) 24 revealed to the AO that Shri SCS is engaged in the activity of providing accommodation entries in the form of share capital, share premium, unsecured loan and long-term capital gain

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

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

section 132(4), 131(IA) of the Act. Based on the above, it was In the cases of Shri Sanjay Singhal and Others Vs. DCIT, Chandigarh (9 Appeals) 24 revealed to the AO that Shri SCS is engaged in the activity of providing accommodation entries in the form of share capital, share premium, unsecured loan and long-term capital gain

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

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

section 132(4), 131(IA) of the Act. Based on the above, it was In the cases of Shri Sanjay Singhal and Others Vs. DCIT, Chandigarh (9 Appeals) 24 revealed to the AO that Shri SCS is engaged in the activity of providing accommodation entries in the form of share capital, share premium, unsecured loan and long-term capital gain

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

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

section 132(4), 131(IA) of the Act. Based on the above, it was In the cases of Shri Sanjay Singhal and Others Vs. DCIT, Chandigarh (9 Appeals) 24 revealed to the AO that Shri SCS is engaged in the activity of providing accommodation entries in the form of share capital, share premium, unsecured loan and long-term capital gain

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

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

section 132(4), 131(IA) of the Act. Based on the above, it was In the cases of Shri Sanjay Singhal and Others Vs. DCIT, Chandigarh (9 Appeals) 24 revealed to the AO that Shri SCS is engaged in the activity of providing accommodation entries in the form of share capital, share premium, unsecured loan and long-term capital gain

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

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

section 132(4), 131(IA) of the Act. Based on the above, it was In the cases of Shri Sanjay Singhal and Others Vs. DCIT, Chandigarh (9 Appeals) 24 revealed to the AO that Shri SCS is engaged in the activity of providing accommodation entries in the form of share capital, share premium, unsecured loan and long-term capital gain

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

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

section 132(4), 131(IA) of the Act. Based on the above, it was In the cases of Shri Sanjay Singhal and Others Vs. DCIT, Chandigarh (9 Appeals) 24 revealed to the AO that Shri SCS is engaged in the activity of providing accommodation entries in the form of share capital, share premium, unsecured loan and long-term capital gain

M/S JAIN AMAR CLOTHING PVT. LTD.,LUDHIANA vs. DCIT, CC-III, LUDHIANA

In the result, the ground no

Bench: SHRI. AAKASH DEEP JAIN (Vice President), SHRI. VIKRAM SINGH YADAV (Accountant Member)

Capital & Premium in the assessee company consequent to the search action and the above fact was supported by the report sent by the DDIT Investigation Unit-2(1), Kolkata along with statements recorded of the ex-directors of the investor companies u/s 131 of the Act. 10.1 It was submitted that there is no dispute that the Hon’ble Supreme

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

In the result, the appeal of the Revenue is dismissed

Bench: Disposal Of Appeal.”

section 144 r.w.s 147 of the Act wherein the AO referring to the assessment proceedings in the case of the wife of the assessee Smt. Baldev Kaur wherein she had stated in her affidavit that the deposit in her bank account pertained to her husband, Shri Ajmer Singh who has sold his agriculture land as per the registered sale deed

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

In the result, the appeal of the Revenue is dismissed

Bench: Disposal Of Appeal.”

section 144 r.w.s 147 of the Act wherein the AO referring to the assessment proceedings in the case of the wife of the assessee Smt. Baldev Kaur wherein she had stated in her affidavit that the deposit in her bank account pertained to her husband, Shri Ajmer Singh who has sold his agriculture land as per the registered sale deed

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

In the result, the appeal of the Revenue is dismissed

Bench: Disposal Of Appeal.”

section 144 r.w.s 147 of the Act wherein the AO referring to the assessment proceedings in the case of the wife of the assessee Smt. Baldev Kaur wherein she had stated in her affidavit that the deposit in her bank account pertained to her husband, Shri Ajmer Singh who has sold his agriculture land as per the registered sale deed

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

section under which recorded 1 Shinsh Chandrakant Shah 132(4) dated 13.04.13, 03.06.13, 11.06.13 and u/s. 131(1 A) dated 25.11.13 and 13.01.14 (SCS) (Relevant Parts) 2 Rajan Kachalia Main person handling the accounting and 09.04.2013 u/s. 132(4); 11.04.2013 u/s. 131(1 documentation part. A) 3 Chandan Kumar Singh Mam person handling cash and bank transactions

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

section under which recorded 1 Shinsh Chandrakant Shah 132(4) dated 13.04.13, 03.06.13, 11.06.13 and u/s. 131(1 A) dated 25.11.13 and 13.01.14 (SCS) (Relevant Parts) 2 Rajan Kachalia Main person handling the accounting and 09.04.2013 u/s. 132(4); 11.04.2013 u/s. 131(1 documentation part. A) 3 Chandan Kumar Singh Mam person handling cash and bank transactions

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

section under which recorded 1 Shinsh Chandrakant Shah 132(4) dated 13.04.13, 03.06.13, 11.06.13 and u/s. 131(1 A) dated 25.11.13 and 13.01.14 (SCS) (Relevant Parts) 2 Rajan Kachalia Main person handling the accounting and 09.04.2013 u/s. 132(4); 11.04.2013 u/s. 131(1 documentation part. A) 3 Chandan Kumar Singh Mam person handling cash and bank transactions

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

section under which recorded 1 Shinsh Chandrakant Shah 132(4) dated 13.04.13, 03.06.13, 11.06.13 and u/s. 131(1 A) dated 25.11.13 and 13.01.14 (SCS) (Relevant Parts) 2 Rajan Kachalia Main person handling the accounting and 09.04.2013 u/s. 132(4); 11.04.2013 u/s. 131(1 documentation part. A) 3 Chandan Kumar Singh Mam person handling cash and bank transactions

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

section under which recorded 1 Shinsh Chandrakant Shah 132(4) dated 13.04.13, 03.06.13, 11.06.13 and u/s. 131(1 A) dated 25.11.13 and 13.01.14 (SCS) (Relevant Parts) 2 Rajan Kachalia Main person handling the accounting and 09.04.2013 u/s. 132(4); 11.04.2013 u/s. 131(1 documentation part. A) 3 Chandan Kumar Singh Mam person handling cash and bank transactions

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

section under which recorded 1 Shinsh Chandrakant Shah 132(4) dated 13.04.13, 03.06.13, 11.06.13 and u/s. 131(1 A) dated 25.11.13 and 13.01.14 (SCS) (Relevant Parts) 2 Rajan Kachalia Main person handling the accounting and 09.04.2013 u/s. 132(4); 11.04.2013 u/s. 131(1 documentation part. A) 3 Chandan Kumar Singh Mam person handling cash and bank transactions

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, LUDHIANA vs. SUNIL KUMAR SOOD, PANCHKULA

The appeal of the Revenue is dismissed

Bench: Shri Rajpal Yadav & Shri Krinwant Sahay

capital gain tax during the year under consideration. DECISION 5.2.3 I have considered the reasoning given by the AO in assessment order, submissions & documents submitted by the appellant, facts of the case and legal position. Brief Facts : (i) The brief facts that the appellant has bought agricultural land of 37 bigha in village Kalyanpur, Baddi, Himachal Pradesh for a consideration