SIKANDER SINGH MALUKA,MOHALI vs. ITO, MOHALI

In the result, the appeal of the assessee is allowed for

Bench: Shri Sanjay Garg & Ms. Annapurna Guptathe I.T.O., Vs. Sh.Sikandar Singh Maluka, Ward 5(1), # 1370, Sector 40-B, Chandigarh. Chandigarh Pan: Abzpm7206N & Sh.Sikandar Singh Maluka, Vs. The I.T.O., # 1370, Sector 40-B, Ward 5(2), Chandigarh. Chandigarh Pan: Abzpm7206N

section 147 of the Act has now been initiated as per the provisions of the Act after obtaining the approval from the competent Authority. 4. In the light of facts adduced above, it is therefore evident that notice u/s 148 of the I.T. Act, dated 26/28.3.2014 was issued after obtaining mandatory sanction from appropriate authority i.e. JCIT, Range-V, Chandigarh

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

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

SOHAN SINGH GARCHA,LUDHIANA vs. ACIT, LUDHIANA

In the result, this appeal of the assessee is hereby allowed

Bench: Shri Sanjay Garg & Ms. Annapurna Guptac.O. No. 39/Chd/2012 (In Ita No. 973/Chd/2012) "नधा"रणवष" / Assessment Years : 2006-07 Shri Sohan Lal Garcha, Vs. The Dcit, 901/2, Punjab Mata Natar, Circle Vi, बनाम Ludhiana Ludhiana

156 of the Act along with the assessment order. Just non- indication of date in the assessment order would not mean that the order was not passed on the date before 31.12.2008. It is well known that along with assessment order a copy of demand notice is also sent to an assessee and date indicated in such demand notice

M/S LUDHIANA LEASING PVT. LTD.,CHANDIGARH vs. DCIT, CC-II, CHANDIGARH

In the result, the appeal of the assessee is treated as partly allowed

Bench: Shri Sanjay Garg & Shri Vikram Singh Yadavआयकर अपील सं./ Ita No. 241/Chd/2023 "नधा"रण वष" / Assessment Year : 2019-20 M/S Ludhiana Leasing Pvt.Ltd., बनाम The Dcit, Central Circle-Ii, #168, Sector 8, Chandigarh Chandigarh "थायी लेखा सं./Pan No: Aaacl6365N अपीलाथ"/Appellant ""यथ"/Respondent

156/- as against Rs.24,21,387/- which is arbitrary and unjustified. ITA No. 241-Chd-2023 M/s Ludhiana leasing Pvt. Ltd., Chandigarh 2 2. That the Ld. Commissioner of Income Tax (Appeals) has further erred in law as well as on facts in upholding that the profit on sale of capital assets is to be included in book profit

ACIT, CIRCLE, SHIMLA vs. SHRI VINOD SHARMA, NEW DELHI

In the result, the appeal of the Revenue is dismissed

Bench: Shri A.D. Jain & Dr Krinwant Sahayआयकर अपील सं./ Ita No. 1449/Chd/2019 "नधा"रण वष" / Assessment Year: 2015-16 The Acit, Vs. Shri Vinod Sharma, बनाम B-1/3, Circle, Safdarjang Enclave, Shimla New Delhi 110029 "थायी लेखा सं./Pan No: Abkps1560N अपीलाथ"/ Appellant ""यथ"/ Repsondent (Hybrid Mode ) "नधा"रती क" ओर से/Assessee By : Sh. Vishal Mohan, Sr. Advocate With Shri Ahninav Bazwaria, Advocate राज"व क" ओर से/ Revenue By : Smt. Kusum Bansal, Cit Dr सुनवाई क" तार"ख/Date Of Hearing : 10.06.2024 उदघोषणा क" तार"ख/Date Of Pronouncement : 09.07.2024

capital gain. It was held a light or interest in an immovable property can accrue only by way of an agreement embodying consensus ad idem as against the confirmation letter that does confer any right to claim title. Similarly in the case of R.L. Sood (supra), the Honorable High Court has declined request of the revenue to call for reference

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

In the result, the appeal of the assessee is partly allowed

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

Section 2(14) of the Act and as such long term capital gain arising out of sale of the same was liable to be taxed. 2. That the Ld. CIT(A)-2 has also erred in giving his findings that certificate filed from the competent authorities does not in any case certify that it conform the definition of agriculture land

PALWINDER SINGH vs. ITO, MOHALI

capital gain tax and order of A.O. ward 6(4), SAS Nagar (Mohali) and CIT (Appeals)-2, Chandigarh are intra-vires the Tax laws, ultra-vires the other law time being in force and ultra-vires provisions of the Constitution which provide the immunity to the agricultural income in India and stay to the notice under Section

GURMEET KAUR,KHARAR vs. ITO, MOHALI

capital gain tax and order of A.O. ward 6(4), SAS Nagar (Mohali) and CIT (Appeals)-2, Chandigarh are intra-vires the Tax laws, ultra-vires the other law time being in force and ultra-vires provisions of the Constitution which provide the immunity to the agricultural income in India and stay to the notice under Section

TEJ KAUR,MOHALI vs. ITO, MOHALI

capital gain tax and order of A.O. ward 6(4), SAS Nagar (Mohali) and CIT (Appeals)-2, Chandigarh are intra-vires the Tax laws, ultra-vires the other law time being in force and ultra-vires provisions of the Constitution which provide the immunity to the agricultural income in India and stay to the notice under Section

JASWINDER SINGH,KHARAR vs. ITO, W-6(4), MOHALI

capital gain tax and order of A.O. ward 6(4), SAS Nagar (Mohali) and CIT (Appeals)-2, Chandigarh are intra-vires the Tax laws, ultra-vires the other law time being in force and ultra-vires provisions of the Constitution which provide the immunity to the agricultural income in India and stay to the notice under Section

BHUPINDER SINGH vs. ITO, MOHALI

capital gain tax and order of A.O. ward 6(4), SAS Nagar (Mohali) and CIT (Appeals)-2, Chandigarh are intra-vires the Tax laws, ultra-vires the other law time being in force and ultra-vires provisions of the Constitution which provide the immunity to the agricultural income in India and stay to the notice under Section

GURINDER SINGH vs. ITO, MOHALI

capital gain tax and order of A.O. ward 6(4), SAS Nagar (Mohali) and CIT (Appeals)-2, Chandigarh are intra-vires the Tax laws, ultra-vires the other law time being in force and ultra-vires provisions of the Constitution which provide the immunity to the agricultural income in India and stay to the notice under Section

AVI AGGARWAL, H.NO. 171-R, MODEL TOWN, LUDHIANA,PUNJAB vs. ASSESSMENT UNIT NFAC, DELHI, JAO ITO WARD6(1), AAYAKAR BHAWAN, RISHI NAGAR, LUDHIANA, PUNJAB

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

section 147 of the Act as the assessee had sold entire number of shares to the tune of Rs. 1,55,800/-. 5. The Ld. Counsel of the assessee then referred to the objections as filed by the assessee before the Assessing Officer, in 4 which, it was contended that the transactions of shares had duly been discussed

GEETA SHARMA,SUNAM vs. PRINCIPAL COMMISSIONER OF INCOME TAX , PATIALA

Bench: SHRI VIKRAM SINGH YADAV (Accountant Member), SHRI PARESH M. JOSHI (Judicial Member)

capital gains arising from the transfer of the property also d oe snot arise. Having regard to the facts and circumstances of the case, the entire receipts of Rs.2,83,94,932.00 shall be treated as revenue receipts and shall be taxed as income the assessee from other sources of the financial year relevant for the assessment year under consideration

JARNAIL SINGH,BILASPUR vs. PRINCIPAL COMMISSIONER OF INCOME TAX-1, CHANDIGARH

In the result, both the appeals of the assessee are disposed off in light of aforesaid directions

Bench: SHRI. VIKRAM SINGH YADAV (Accountant Member), SHRI. PARESH M. JOSHI (Judicial Member)

156,000/-. In his return of income, the assessee declared income of Rs. 1,56,000/- under head 'Salary and declared loss of Rs.83,14,686/- under the head “Short Term Capital Gain”. The assessment order under section

JARNAIL SINGH,BILASPUR vs. PRINCIPAL COMMISSIONER OF INCOME TAX-1,, CHANDIGARH

In the result, both the appeals of the assessee are disposed off in light of aforesaid directions

Bench: SHRI. VIKRAM SINGH YADAV (Accountant Member), SHRI. PARESH M. JOSHI (Judicial Member)

156,000/-. In his return of income, the assessee declared income of Rs. 1,56,000/- under head 'Salary and declared loss of Rs.83,14,686/- under the head “Short Term Capital Gain”. The assessment order under section