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

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

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 and Others Vs. DCIT, Chandigarh (9 Appeals) 28 broker wherein it was admitted that he has arranged the bogus long-term capital gain on the request

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

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

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 and Others Vs. DCIT, Chandigarh (9 Appeals) 28 broker wherein it was admitted that he has arranged the bogus long-term capital gain on the request

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

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

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 and Others Vs. DCIT, Chandigarh (9 Appeals) 28 broker wherein it was admitted that he has arranged the bogus long-term capital gain on the request

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

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

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 and Others Vs. DCIT, Chandigarh (9 Appeals) 28 broker wherein it was admitted that he has arranged the bogus long-term capital gain on the request

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

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

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 and Others Vs. DCIT, Chandigarh (9 Appeals) 28 broker wherein it was admitted that he has arranged the bogus long-term capital gain on the request

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

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

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 and Others Vs. DCIT, Chandigarh (9 Appeals) 28 broker wherein it was admitted that he has arranged the bogus long-term capital gain on the request

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

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

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 and Others Vs. DCIT, Chandigarh (9 Appeals) 28 broker wherein it was admitted that he has arranged the bogus long-term capital gain on the request

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

In the result appeal of the assessee is dismissed

capital assetbut has failed\nmiserably to establish financial of scrip and has failed to demonstrate that\nscrip could indeed command a high price. Wherever there are abnormal\ngains, the onus would lie on assessee to prove the abnormal\ncircumstances and here the assessee has not discharged this onus.\n6.27 We gainfully refer to judgement of Hon'ble Calcutta High court

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)

Section 69C of the Act, on account of alleged unaccounted commission paid by the assessee at the rate of 6.5% for the purpose of earning Long Term Capital Gains. 9.1 We find from the record that the entire addition has been made by the Assessing Officer on the basis of the same arguments, information, evidence including findings of search

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)

Section 69C of the Act, on account of alleged unaccounted commission paid by the assessee at the rate of 6.5% for the purpose of earning Long Term Capital Gains. 9.1 We find from the record that the entire addition has been made by the Assessing Officer on the basis of the same arguments, information, evidence including findings of search

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)

Section 69C of the Act, on account of alleged unaccounted commission paid by the assessee at the rate of 6.5% for the purpose of earning Long Term Capital Gains. 9.1 We find from the record that the entire addition has been made by the Assessing Officer on the basis of the same arguments, information, evidence including findings of search

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)

Section 69C of the Act, on account of alleged unaccounted commission paid by the assessee at the rate of 6.5% for the purpose of earning Long Term Capital Gains. 9.1 We find from the record that the entire addition has been made by the Assessing Officer on the basis of the same arguments, information, evidence including findings of search

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)

Section 69C of the Act, on account of alleged unaccounted commission paid by the assessee at the rate of 6.5% for the purpose of earning Long Term Capital Gains. 9.1 We find from the record that the entire addition has been made by the Assessing Officer on the basis of the same arguments, information, evidence including findings of search

ITO, W-6(5), MOHALI vs. SMT. GURDEV KAUR, KHARAR

In the result, the appeal of the Revenue is dismissed

Bench: Disposal Of Appeal.”

section (2) contended for on behalf of the Revenue were accepted, such difference would also be liable to be added as part of capital gains taxable under the provisions of the Income Tax Act, 1961. This would be an anomalous result which could never have been contemplated by the legislature, since the Income Tax Act, 1961 and the Gift

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

In the result, the appeal of the Revenue is dismissed

Bench: Disposal Of Appeal.”

section (2) contended for on behalf of the Revenue were accepted, such difference would also be liable to be added as part of capital gains taxable under the provisions of the Income Tax Act, 1961. This would be an anomalous result which could never have been contemplated by the legislature, since the Income Tax Act, 1961 and the Gift

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

In the result, the appeal of the Revenue is dismissed

Bench: Disposal Of Appeal.”

section (2) contended for on behalf of the Revenue were accepted, such difference would also be liable to be added as part of capital gains taxable under the provisions of the Income Tax Act, 1961. This would be an anomalous result which could never have been contemplated by the legislature, since the Income Tax Act, 1961 and the Gift

SHRI PARDEEP KUMAR JAIN,ZIRAKPUR vs. ITO, W-2(3), CHANDIGARH

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

Bench: Shri Sanjay Garg & Ms. Annapurna Guptaआयकरअपीलसं./Ita No. 190/Chd/2019 "नधा"रणवष" / Assessment Year : 2012-13 Shri Pradeep Kumar Jain, The Ito, Ward 2(3), बनाम Chandigarh Flat No.222, Orbit Apartments, 6Th Floor, Zirakpur "थायीलेखासं./Pan No: Advpj6719P अपीलाथ"/Appellant ""यथ"/Respondent

64,000/- in respect of 2nd floor while assessing the indexed cost of improvement of residential house sold by the appellant even when the denial by Ld. AO is arbitrary, biased, without any basis and hence deserves to be set - aside by restoring the claim of the appellant. ITA No. 190-Chd/2019 Shri Pradeep Kumar Jain, Zirakpur 4 6. That

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

64,156/- 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