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

1. CIT Vs Najoo Dara Deboo 218 taxman 473 Allahabad HC 2. Aarti Sanjay Kadam vs ITO 172 ITD 362 Mumbai ITAT 3. Seshasayee Steels (P) Ltd. vs ACIT 421 ITR 46 Supreme Court 4. C.S. Atwal vs. CIT 59 taxmann.com 359 P&H HC 5. CIT VS. Balbir Singh Maini 398 ITR 531 Supreme Court 6. CIT vs Atam

IND SWIFT LABORATORIES LTD.,CHANDIGARH vs. DCIT, CIRCLE 1(1), CHANDIGARH

In the result, the appeal is allowed, as indicated

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

gains", and this has been the consistent view of this Court. In our opinion, the High Court in the impugned judgment, as well as the Tribunal and the income- tax authorities have approached the matter from an erroneous angle. In the present case, the assessee borrowed the fund from the bank and lent some of it to its sister concern

DCIT, CIRCLE, PATIALA vs. M/S PUNJAB STATE POWER CORPORATION LTD., PATIALA

In the result, ground no. 1 & 3 of the Revenue’s appeal is allowed and ground no

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

251 ITR 522 (SC)] has held that the locker rent received by the assessee was a part of ordinary banking business as shown by section 6(1)(a) of the Banking (Regulation) Act, 1949 and, therefore, the income derived by the assessee bank from hiring out of safe deposit vaults was income from banking business and deductible u/s.80P

ASSISTANT COMMISSIONER OF INCOME TAX, PANCHKULA CIRCLE, PANCHKULA, PANCHKULA vs. VENUS REMEDIES LIMITED, CHANDIGARH

In the result, the appeal of the Revenue is dismissed

Bench: SHRI. LALIET KUMAR (Judicial Member), SHRI. MANOJ KUMAR AGGARWAL (Accountant Member)

capital receipt and not liable to tax under Sections 28(iv) or 41(1). 7. The Ld. DR, per contra, controverted the arguments and reiterated that since the waiver of principal loan should be regarded as taxable trading receipts. 8. We have heard the rival contentions and perused the material available on record. The central issue for adjudication is whether

M/S SATWANT AGRO ENGINEERS,BHAWANIGARH vs. DCIT, CENTRAL CIRCLE, PATIALA

In the result, the appeal of the assessee is partly allowed for statistical purposes

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

section 68 can be made in the hand of the firm in respect of credits to the partner's capital account in firm. Further it is submitted that credit entry in capital account of partners was surrendered in firm which was duly accepted by department so in case of firm the addition/surrendered amount should be assessed as business income which

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, 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

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

SH. LALIT JAIN,CHANDIGARH vs. ACIT, C-4(1), CHANDIGARH

The appeals of the assessees are allowed for

Bench: Shri Satbeer Singh Godara & Smt. Annapurna Guptaआयकरअपीलसं./Ita No. 1074/Chd/2019 "नधा"रणवष" / Assessment Year: 2014-15 Shri Lalit Jain The Assistant Commissioner बनाम S.C.O. 371-372, 2Nd Floor, Of Income Tax Circle-4(1), Sector-35B, Chandigarh Chandigarh "थायीलेखासं./Pan No : Aaupj 0091Q अपीलाथ"/Appellant ""यथ"/Respondent

capital gains. Subsequently, the assesses filled a revised return on 23.10.2015. • Thereafter, Assessment order was passed and the income of the assessee as per revised return and penalty proceedings u/s 274 r.w.s. 271(1)(c) was initiated separately. • Appeal against the Penalty order was filed on 23.12.2016 before Commissioner of income Tax against penalty wrongly initiated

SMT. JYOTI JAIN,CHANDIGARH vs. ACIT, C-4(1), CHANDIGARH

The appeals of the assessees are allowed for

Bench: Shri Satbeer Singh Godara & Smt. Annapurna Guptaआयकरअपीलसं./Ita No. 1074/Chd/2019 "नधा"रणवष" / Assessment Year: 2014-15 Shri Lalit Jain The Assistant Commissioner बनाम S.C.O. 371-372, 2Nd Floor, Of Income Tax Circle-4(1), Sector-35B, Chandigarh Chandigarh "थायीलेखासं./Pan No : Aaupj 0091Q अपीलाथ"/Appellant ""यथ"/Respondent

capital gains. Subsequently, the assesses filled a revised return on 23.10.2015. • Thereafter, Assessment order was passed and the income of the assessee as per revised return and penalty proceedings u/s 274 r.w.s. 271(1)(c) was initiated separately. • Appeal against the Penalty order was filed on 23.12.2016 before Commissioner of income Tax against penalty wrongly initiated

DCIT, C-,1 (E), CHANDIGARH vs. M/S PUNJAB MEDICAL FOUNDATION CHARITABLE TRUST, JALANDHAR

In the result, appeal of the Revenue is dismissed

Bench: S/Shri N.K. Saini, Vice- & Rajpal Yadav, Vice-"नधा"रण वष"/ Asstt.Year: 2014-15 Dcit, Cir.1(Exemption) M/S.Punjab Medical Foundation Chandigarh. Vs. Charitable Trust 63-64, Waryam Nagar Cool Road, Jalandhar Pan : Aaatp 5171 B (Applicant) (Responent) : Shri Sudhir Sehal, Advocate Assessee By Revenue By : Shri Ashok K. Khana, Addl.Cit सुनवाई क" तार"ख/Date Of Hearing : 18/11/2020 घोषणा क" तार"ख /Date Of Pronouncement: 21/12/2020 आदेश/O R D E R

251 CTR Page 237 2 The A.O. stated that profit rate of Pharmacy is being run on 20.02 is commercial where as he commercial basis himself accepted 22.43% during 6 previous year (2014-2015 Asstt. Yr.) and his predecessor during all the previous years. The entire profit is utilized for the fulfillment of the objects of the society, which

M/S ASHA TECHNOLOGIES,KALA AMB vs. ITO, SIRMOUR

In the result, both the above appeals of the Assessee are partly allowed as aforesaid in respect of impugned orders dt

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

capital account and Rs. 11,00,000/- in the name of M/s. Asha Telecom Pvt. Ltd. as liabilities. But it did not furnish any information regarding sources of these credits and neither any confirmation from M/s. Asha Telecom Pvt. Ltd. was furnished. Similarly, Para 8 of the questionnaire remained unanswered. Vide Para 9 of its reply, it was stated that

M/S ASHA TECHNOLOGIES,SIRMOUR vs. ADDL. CIT, SOLAN

In the result, both the above appeals of the Assessee are partly allowed as aforesaid in respect of impugned orders dt

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

capital account and Rs. 11,00,000/- in the name of M/s. Asha Telecom Pvt. Ltd. as liabilities. But it did not furnish any information regarding sources of these credits and neither any confirmation from M/s. Asha Telecom Pvt. Ltd. was furnished. Similarly, Para 8 of the questionnaire remained unanswered. Vide Para 9 of its reply, it was stated that