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

section 45(5) of the Act which in contrast brings to tax capital gains on amount received. In the above view, it is his submission that the Assessing Officer was justified in bringing to tax entire amount of the respondent- assessee's share in Rs.20 crores referred to in the agreement dated 25th January, 2006 as maximum amount that could

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

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

27 capital gain. Shri SCS for this transaction has charged a commission of Rs.3.81 crores along with Aangadia charges of Rs.9,02,250/- only. When confronted, Shri SCS also admitted that he has provided accommodation entries in the name of long-term capital gain to the group of the assessee through the broker, Shri RK Kedia. 20. Further, receipts

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

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

27 capital gain. Shri SCS for this transaction has charged a commission of Rs.3.81 crores along with Aangadia charges of Rs.9,02,250/- only. When confronted, Shri SCS also admitted that he has provided accommodation entries in the name of long-term capital gain to the group of the assessee through the broker, Shri RK Kedia. 20. Further, receipts

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

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

27 capital gain. Shri SCS for this transaction has charged a commission of Rs.3.81 crores along with Aangadia charges of Rs.9,02,250/- only. When confronted, Shri SCS also admitted that he has provided accommodation entries in the name of long-term capital gain to the group of the assessee through the broker, Shri RK Kedia. 20. Further, receipts

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

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

27 capital gain. Shri SCS for this transaction has charged a commission of Rs.3.81 crores along with Aangadia charges of Rs.9,02,250/- only. When confronted, Shri SCS also admitted that he has provided accommodation entries in the name of long-term capital gain to the group of the assessee through the broker, Shri RK Kedia. 20. Further, receipts

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

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

27 capital gain. Shri SCS for this transaction has charged a commission of Rs.3.81 crores along with Aangadia charges of Rs.9,02,250/- only. When confronted, Shri SCS also admitted that he has provided accommodation entries in the name of long-term capital gain to the group of the assessee through the broker, Shri RK Kedia. 20. Further, receipts

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

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

27 capital gain. Shri SCS for this transaction has charged a commission of Rs.3.81 crores along with Aangadia charges of Rs.9,02,250/- only. When confronted, Shri SCS also admitted that he has provided accommodation entries in the name of long-term capital gain to the group of the assessee through the broker, Shri RK Kedia. 20. Further, receipts

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

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

27 capital gain. Shri SCS for this transaction has charged a commission of Rs.3.81 crores along with Aangadia charges of Rs.9,02,250/- only. When confronted, Shri SCS also admitted that he has provided accommodation entries in the name of long-term capital gain to the group of the assessee through the broker, Shri RK Kedia. 20. Further, receipts

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

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

27 capital gain. Shri SCS for this transaction has charged a commission of Rs.3.81 crores along with Aangadia charges of Rs.9,02,250/- only. When confronted, Shri SCS also admitted that he has provided accommodation entries in the name of long-term capital gain to the group of the assessee through the broker, Shri RK Kedia. 20. Further, receipts

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

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

27 capital gain. Shri SCS for this transaction has charged a commission of Rs.3.81 crores along with Aangadia charges of Rs.9,02,250/- only. When confronted, Shri SCS also admitted that he has provided accommodation entries in the name of long-term capital gain to the group of the assessee through the broker, Shri RK Kedia. 20. Further, receipts

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

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

section 69A are squarely applicable to the facts of the present case. The appellant has been found owner of money lying in his bank account, source and nature of which could not be explained satisfactorily. Further, it is hereby mentioned that power of the CIT (A) are co-terminus with the AO. It has been held by Hon'ble Supreme

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

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

section 69A are squarely applicable to the facts of the present case. The appellant has been found owner of money lying in his bank account, source and nature of which could not be explained satisfactorily. Further, it is hereby mentioned that power of the CIT (A) are co-terminus with the AO. It has been held by Hon'ble Supreme

TARUN JAIN,BATHINDA vs. PR.CIT(CENTRAL), LUDHIANA

Bench: Shri N.K. Saini & Shri Sudhanshu Srivastava

Capital Gain for AY 2013-14 and 2014-15 had been retracted as is evident from the Order of the ITAT in ITA Nos. 625 & 626/Chd/2019, placed at Paper Book pages 1 to 40. Therefore, we are unable to concur with the view taken by the Ld. PCIT that the AO had not conducted necessary enquiries prior to the passing

SHRI SANJAY JAIN,BATHINDA vs. PR.CIT(CENTRAL), LUDHIANA

Bench: Shri N.K. Saini & Shri Sudhanshu Srivastava

Capital Gain for AY 2013-14 and 2014-15 had been retracted as is evident from the Order of the ITAT in ITA Nos. 625 & 626/Chd/2019, placed at Paper Book pages 1 to 40. Therefore, we are unable to concur with the view taken by the Ld. PCIT that the AO had not conducted necessary enquiries prior to the passing

RAJNI JAIN,BATHINDA vs. PR.CIT(CENTRAL), LUDHIANA

Bench: Shri N.K. Saini & Shri Sudhanshu Srivastava

Capital Gain for AY 2013-14 and 2014-15 had been retracted as is evident from the Order of the ITAT in ITA Nos. 625 & 626/Chd/2019, placed at Paper Book pages 1 to 40. Therefore, we are unable to concur with the view taken by the Ld. PCIT that the AO had not conducted necessary enquiries prior to the passing

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

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)

27,391/- and the aggregate sale proceeds from the sale of shares was Rs. 36,67,21,029/- ( Details of the calculation of Long Term Capital Gains are at Pages 28 -29 of the PB). 4.9 During the course of the assessment proceeding the Assessing Officer vide notice u/s 142(1) dated 13.10.2017 (Page 214 -15 of the PB) asked

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)

27,391/- and the aggregate sale proceeds from the sale of shares was Rs. 36,67,21,029/- ( Details of the calculation of Long Term Capital Gains are at Pages 28 -29 of the PB). 4.9 During the course of the assessment proceeding the Assessing Officer vide notice u/s 142(1) dated 13.10.2017 (Page 214 -15 of the PB) asked