THE PUNJAB STATE FEDERATION OF COOPERATIVE HOUSE BUILDING SOCIETIES LTD.,CHANDIGARH vs. ACIT, CHANDIGARH

In the result, both the above appeals of the Assessee are dismissed

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

239/- of the appellant as long term capital Chandigarh disallowing the claim of Rs. 14,95,610/- of gain and treating the same as business income the appellant as long term capital gain and treating amounting to Rs.41,10,000/- is bad in law the same as business income amounting to Rs. and needs to be set aside

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

Capital Gains by invoking the provisions of Sec. 69C of the Act on sheer presumptive basis. 5. That the Ld. Commissioner of Income Tax (Appeals)-3, Gurgaon while adjudicating the appeal, has dismissed various grounds of appeal raised by the Appellant by relying on statements of various persons and data without affording any opportunity to cross examine such persons thereby

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

Capital Gains by invoking the provisions of Sec. 69C of the Act on sheer presumptive basis. 5. That the Ld. Commissioner of Income Tax (Appeals)-3, Gurgaon while adjudicating the appeal, has dismissed various grounds of appeal raised by the Appellant by relying on statements of various persons and data without affording any opportunity to cross examine such persons thereby

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

Capital Gains by invoking the provisions of Sec. 69C of the Act on sheer presumptive basis. 5. That the Ld. Commissioner of Income Tax (Appeals)-3, Gurgaon while adjudicating the appeal, has dismissed various grounds of appeal raised by the Appellant by relying on statements of various persons and data without affording any opportunity to cross examine such persons thereby

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

Capital Gains by invoking the provisions of Sec. 69C of the Act on sheer presumptive basis. 5. That the Ld. Commissioner of Income Tax (Appeals)-3, Gurgaon while adjudicating the appeal, has dismissed various grounds of appeal raised by the Appellant by relying on statements of various persons and data without affording any opportunity to cross examine such persons thereby

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

Capital Gains by invoking the provisions of Sec. 69C of the Act on sheer presumptive basis. 5. That the Ld. Commissioner of Income Tax (Appeals)-3, Gurgaon while adjudicating the appeal, has dismissed various grounds of appeal raised by the Appellant by relying on statements of various persons and data without affording any opportunity to cross examine such persons thereby

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

Capital Gains by invoking the provisions of Sec. 69C of the Act on sheer presumptive basis. 5. That the Ld. Commissioner of Income Tax (Appeals)-3, Gurgaon while adjudicating the appeal, has dismissed various grounds of appeal raised by the Appellant by relying on statements of various persons and data without affording any opportunity to cross examine such persons thereby

DCIT, C-V, LUDHIANA vs. M/S HERO CYCLES LTD., LUDHIANA

In the result, appeal of the Department is dismissed and the appeal of the assessee is allowed

Bench: SHRI. RAJPAL YADAV (Vice President), SHRI. KRINWANT SAHAY, AM आयकर अपील सं. / ITA No. 588/Chd/2018 निर्धारण वर्ष / Assessment Years : 2012-13 The DCIT C-V, Ludhiana बनाम M/s Hero Cycles Ltd. Hero Nagar, G.T. Road Ludhiana स्थायी लेखा सं./PAN NO: AAACH4073P अपीलार्थी/Appellant प्रत्यर्थी / Respondent आयकर अपील सं. / ITA No. 473/Chd/2018 निर्धारण वर्ष / Assessment Years : 2012-13 M/s Hero Cycles Ltd. Hero Nagar, G.T. Road Ludhiana बनाम The ACIT C-V, Ludhiana स्थायी लेखा सं./PAN NO: AAACH4073P

gains is exempt from tax under section 10 of the Act is directed to be deleted on the basis of same reasoning and logic as adopted by the Honourable IT AT, Chandigarh in the case of the assessee company itself for the Assessment Years 2008-09, 2009-10 and 2010-11 while deleting the identical addition in these years

SMT. SUKIANA PARVEZ ALI KHAN,MOHALI vs. ITO, W-6(3), MOHALI

Appeal of the assessee is allowed

Bench: Smt. Diva Singh & Dr. B.R.R. Kumarassessment Year: 2009-10

239 (i.e. Rs. 273825 less relief allowed by CIT(A) of Rs. 1,74,586). 3. Brief facts on the issue are that during the relevant period, assessee has declared long term capital gains amounting to Rs. 1,73,927/- on sale of House Property No. 103 and 104 in Malad, Mumbai. This property was sold for a consideration

M/S SHUBHAM COTTON MILLS PVT. LTD.,ELLENABAD vs. DCIT, CIRCLE, SIRSA

In the result appeal of the assessee is allowed

gains", is a loss, the assessee shall be entitled to have the amount of such loss set off against his income from any other source under the same head. (2) Where the result of the computation made for any assessment year under sections 48 to 55 in respect of any short-term capital asset is a loss, the assessee shall

KANDI FRIENDS EDUCATIONAL TRUST,ROPAR vs. DEPUTY COMMISSIONER OF INCOME TAX, CHANDIGARH

In the result, both the appeals are allowed

Bench: Shri Rajpal Yadav & Shri Krinwant Sahay

gainfully implied in their other activities also and therefore, payment of honorarium to these persons is not in accordance with law. To our mind, this cannot be a logic for denying the benefit to them. The intention of the Section is not as such. It is the assessee who has to manage its affairs and to decide what is necessary

KANDI FRIENDS EDUCATIONAL TRUST,ROPAR vs. DEPUTY COMMISSION OF INCOME TAX, CL. 1, EXEMPTION, CHANDIGARH

In the result, both the appeals are allowed

Bench: Shri Rajpal Yadav & Shri Krinwant Sahay

gainfully implied in their other activities also and therefore, payment of honorarium to these persons is not in accordance with law. To our mind, this cannot be a logic for denying the benefit to them. The intention of the Section is not as such. It is the assessee who has to manage its affairs and to decide what is necessary

M/S MANAV MANGAL SOCIETY,CHANDIGARH vs. DCIT, C-1, (E), CHANDIGARH

In the result, all the appeals of the assessee are allowed and all the appeals of the department are dismissed

gain won various Awards and Appreciations over a period of time from the State and other high dignitaries at the state level and all India Level in appreciation of the services provided by them towards the field of education and setting up of infrastructure for imparting quality education. That befits them to be in the key roles assigned to them

DCIT, C-1, (E), CHANDIGARH vs. M/S MANAV MANGAL SOCIETY, CHANDIGARH

In the result, all the appeals of the assessee are allowed and all the appeals of the department are dismissed

gain won various Awards and Appreciations over a period of time from the State and other high dignitaries at the state level and all India Level in appreciation of the services provided by them towards the field of education and setting up of infrastructure for imparting quality education. That befits them to be in the key roles assigned to them

DCIT, C-1, (E), CHANDIGARH vs. M/S MANAV MANGAL SOCIETY, CHANDIGARH

In the result, all the appeals of the assessee are allowed and all the appeals of the department are dismissed

gain won various Awards and Appreciations over a period of time from the State and other high dignitaries at the state level and all India Level in appreciation of the services provided by them towards the field of education and setting up of infrastructure for imparting quality education. That befits them to be in the key roles assigned to them

M/S MANAV MANGAL SOCIETY,CHANDIGARH vs. DCIT, C-1, (E), CHANDIGARH

In the result, all the appeals of the assessee are allowed and all the appeals of the department are dismissed

gain won various Awards and Appreciations over a period of time from the State and other high dignitaries at the state level and all India Level in appreciation of the services provided by them towards the field of education and setting up of infrastructure for imparting quality education. That befits them to be in the key roles assigned to them

DCIT,CIRCLE-1(EXEMPTION), CHANDIGARH vs. M/S MANAV MANGAL SCHOOL( MANAV MANGAL SOCIETY), CHANDIGARH

In the result, all the appeals of the assessee are allowed and all the appeals of the department are dismissed

gain won various Awards and Appreciations over a period of time from the State and other high dignitaries at the state level and all India Level in appreciation of the services provided by them towards the field of education and setting up of infrastructure for imparting quality education. That befits them to be in the key roles assigned to them

DCIT, C-1, (E), CHANDIGARH vs. M/S MANAV MANGAL SOCIETY, CHANDIGARH

In the result, all the appeals of the assessee are allowed and all the appeals of the department are dismissed

gain won various Awards and Appreciations over a period of time from the State and other high dignitaries at the state level and all India Level in appreciation of the services provided by them towards the field of education and setting up of infrastructure for imparting quality education. That befits them to be in the key roles assigned to them