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

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

250 crores on account of bogus long- term capital gain through the sale of PIL shares. 22. Subsequently, one more search and seizure operation under section 132 of the Act dated 13 June 2014 was also carried out by the Directorate of Investigation, Delhi in the case of Shri RK Kedia, a In the cases of Shri Sanjay Singhal

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

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

250 crores on account of bogus long- term capital gain through the sale of PIL shares. 22. Subsequently, one more search and seizure operation under section 132 of the Act dated 13 June 2014 was also carried out by the Directorate of Investigation, Delhi in the case of Shri RK Kedia, a In the cases of Shri Sanjay Singhal

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

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

250 crores on account of bogus long- term capital gain through the sale of PIL shares. 22. Subsequently, one more search and seizure operation under section 132 of the Act dated 13 June 2014 was also carried out by the Directorate of Investigation, Delhi in the case of Shri RK Kedia, a In the cases of Shri Sanjay Singhal

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

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

250 crores on account of bogus long- term capital gain through the sale of PIL shares. 22. Subsequently, one more search and seizure operation under section 132 of the Act dated 13 June 2014 was also carried out by the Directorate of Investigation, Delhi in the case of Shri RK Kedia, a In the cases of Shri Sanjay Singhal

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

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

250 crores on account of bogus long- term capital gain through the sale of PIL shares. 22. Subsequently, one more search and seizure operation under section 132 of the Act dated 13 June 2014 was also carried out by the Directorate of Investigation, Delhi in the case of Shri RK Kedia, a In the cases of Shri Sanjay Singhal

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

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

250 crores on account of bogus long- term capital gain through the sale of PIL shares. 22. Subsequently, one more search and seizure operation under section 132 of the Act dated 13 June 2014 was also carried out by the Directorate of Investigation, Delhi in the case of Shri RK Kedia, a In the cases of Shri Sanjay Singhal

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

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

250 crores on account of bogus long- term capital gain through the sale of PIL shares. 22. Subsequently, one more search and seizure operation under section 132 of the Act dated 13 June 2014 was also carried out by the Directorate of Investigation, Delhi in the case of Shri RK Kedia, a In the cases of Shri Sanjay Singhal

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

250/- would not arise in assessment year 2007-08. 10. The ld. CIT(Appeals) considering the submission of the assessee, material on record and case law cited by assessee dismissed this ground of appeal of the assessee and held that Assessing Officer has rightly taxed the capital gain on entire sale consideration in the assessment year under appeal

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

250/- would not arise in assessment year 2007-08. 10. The ld. CIT(Appeals) considering the submission of the assessee, material on record and case law cited by assessee dismissed this ground of appeal of the assessee and held that Assessing Officer has rightly taxed the capital gain on entire sale consideration in the assessment year under appeal

SHRI KRISHAN KUMAR JALAN,BANGALORE vs. ITO, W-1, SIRSA

In the result appeal of the assessee is dismissed

250(6) of the Act which is\nhereinafter referred to as the “impugned order\". The relevant AY is 2014-15\nand the corresponding previous year period is from 01/04/2013 to\n31/03/2014.\n2.\nFactual Matrix\nProceedings before AO\n2.1 The assessee derived income from salary, business income from\npartnership firms, capital gains and income from other sources during the\nfinancial year

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

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

Capital Gains of Rs. 18,31,36.042/- are allegedly, sham entered into, allegedly, for the purpose of evading tax. 2. That the order dated 26.09.2023 passed u/s 250(6) of the Income Tax Act, 1961 by the Commissioner of Income Tax (Appeals)-3, Gurgaon is against law and facts on the file in as-much he has acted beyond

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

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

Capital Gains of Rs. 18,31,36.042/- are allegedly, sham entered into, allegedly, for the purpose of evading tax. 2. That the order dated 26.09.2023 passed u/s 250(6) of the Income Tax Act, 1961 by the Commissioner of Income Tax (Appeals)-3, Gurgaon is against law and facts on the file in as-much he has acted beyond

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

250(6) dated 30.04.2024 is erroneous, contrary to the facts of the case and is bad in Law. 2) That the Id. CIT(Appeals) has erred in confirming the action of the Assessing Officer in disallowing the capital loss of Rs. 25,75,000/- claimed by the Appellant and by adding this amount in the sale consideration already declared

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)

250(6) of the Income Tax Act, 1961 by the Learned Commissioner of Income Tax (Appeals)-3, Gurgaon is against law and facts on the file in as much as he was not justified to uphold the addition of Rs. 36,67,21,029/- representing sale proceeds of equity shares held by the appellant for more than 12 months

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)

250(6) of the Income Tax Act, 1961 by the Learned Commissioner of Income Tax (Appeals)-3, Gurgaon is against law and facts on the file in as much as he was not justified to uphold the addition of Rs. 36,67,21,029/- representing sale proceeds of equity shares held by the appellant for more than 12 months

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)

250(6) of the Income Tax Act, 1961 by the Learned Commissioner of Income Tax (Appeals)-3, Gurgaon is against law and facts on the file in as much as he was not justified to uphold the addition of Rs. 36,67,21,029/- representing sale proceeds of equity shares held by the appellant for more than 12 months

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)

250(6) of the Income Tax Act, 1961 by the Learned Commissioner of Income Tax (Appeals)-3, Gurgaon is against law and facts on the file in as much as he was not justified to uphold the addition of Rs. 36,67,21,029/- representing sale proceeds of equity shares held by the appellant for more than 12 months

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)

250(6) of the Income Tax Act, 1961 by the Learned Commissioner of Income Tax (Appeals)-3, Gurgaon is against law and facts on the file in as much as he was not justified to uphold the addition of Rs. 36,67,21,029/- representing sale proceeds of equity shares held by the appellant for more than 12 months