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

section 2(47) of the IT Act, 1961. We also place reliance on the decision of CIT vs. Rasiklal Maneklal (HUF) (177 ITR 198)(SC) wherein the apex court held, affirming the decision of the High Court, that there was neither an "exchange" nor a "relinquishment" and no capital gains arose from the transaction. An "exchange" involves the transfer

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 2(47) of the IT Act, 1961. We also place reliance on the decision of CIT vs. Rasiklal Maneklal (HUF) (177 ITR 198)(SC) wherein the apex court held, affirming the decision of the High Court, that there was neither an "exchange" nor a "relinquishment" and no capital gains arose from the transaction. An "exchange" involves the transfer

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

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

section 132(4) of the Act after confronting various documents of incriminating In the cases of Shri Sanjay Singhal and Others Vs. DCIT, Chandigarh (9 Appeals) 49 nature and the statement recorded of various persons. Thus, the admission by the assessee in itself is a vital piece of evidence that the group of the assessee has generated huge bogus long

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

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

section 132(4) of the Act after confronting various documents of incriminating In the cases of Shri Sanjay Singhal and Others Vs. DCIT, Chandigarh (9 Appeals) 49 nature and the statement recorded of various persons. Thus, the admission by the assessee in itself is a vital piece of evidence that the group of the assessee has generated huge bogus long

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

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

section 132(4) of the Act after confronting various documents of incriminating In the cases of Shri Sanjay Singhal and Others Vs. DCIT, Chandigarh (9 Appeals) 49 nature and the statement recorded of various persons. Thus, the admission by the assessee in itself is a vital piece of evidence that the group of the assessee has generated huge bogus long

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

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

section 132(4) of the Act after confronting various documents of incriminating In the cases of Shri Sanjay Singhal and Others Vs. DCIT, Chandigarh (9 Appeals) 49 nature and the statement recorded of various persons. Thus, the admission by the assessee in itself is a vital piece of evidence that the group of the assessee has generated huge bogus long

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

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

section 132(4) of the Act after confronting various documents of incriminating In the cases of Shri Sanjay Singhal and Others Vs. DCIT, Chandigarh (9 Appeals) 49 nature and the statement recorded of various persons. Thus, the admission by the assessee in itself is a vital piece of evidence that the group of the assessee has generated huge bogus long

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

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

section 132(4) of the Act after confronting various documents of incriminating In the cases of Shri Sanjay Singhal and Others Vs. DCIT, Chandigarh (9 Appeals) 49 nature and the statement recorded of various persons. Thus, the admission by the assessee in itself is a vital piece of evidence that the group of the assessee has generated huge bogus long

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

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

section 132(4) of the Act after confronting various documents of incriminating In the cases of Shri Sanjay Singhal and Others Vs. DCIT, Chandigarh (9 Appeals) 49 nature and the statement recorded of various persons. Thus, the admission by the assessee in itself is a vital piece of evidence that the group of the assessee has generated huge bogus long

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

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

section 132(4) of the Act after confronting various documents of incriminating In the cases of Shri Sanjay Singhal and Others Vs. DCIT, Chandigarh (9 Appeals) 49 nature and the statement recorded of various persons. Thus, the admission by the assessee in itself is a vital piece of evidence that the group of the assessee has generated huge bogus long

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

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

section 132(4) of the Act after confronting various documents of incriminating In the cases of Shri Sanjay Singhal and Others Vs. DCIT, Chandigarh (9 Appeals) 49 nature and the statement recorded of various persons. Thus, the admission by the assessee in itself is a vital piece of evidence that the group of the assessee has generated huge bogus long

DHEERUMAL SHARMA,MANDI vs. ITO, SUNDERNAGAR

In the result, both the above appeals are allowed for statistical purposes

Bench: Smt. Diva Singh & Ms. Annapurna Guptaassessment Year: 2008-09 Shri. Het Ram Sharma Vs. The Ito Vill & P.O. Tattapani Sundernagar Tehsil Karsog Mandi, H.P. Mandi, H.P.

Section 50 applies when the depreciable assets alone are transferred. As the land and building has been acquired by the Kol Dam Authorities as such the gain earned by the assessee is long term capital gain and not short term capital gain. Reliance is placed on the judgment of Madras High Court (2010) 328 ITR 69

HET RAM SHARMA,MANDI vs. ITO, , SUNDERNAGAR

In the result, both the above appeals are allowed for statistical purposes

Bench: Smt. Diva Singh & Ms. Annapurna Guptaassessment Year: 2008-09 Shri. Het Ram Sharma Vs. The Ito Vill & P.O. Tattapani Sundernagar Tehsil Karsog Mandi, H.P. Mandi, H.P.

Section 50 applies when the depreciable assets alone are transferred. As the land and building has been acquired by the Kol Dam Authorities as such the gain earned by the assessee is long term capital gain and not short term capital gain. Reliance is placed on the judgment of Madras High Court (2010) 328 ITR 69

SH. KRISHAN KUMAR,KHANNA vs. DCIT, CC-1, LUDHIANA

In the result, the appeal of the Assessee is allowed

Bench: Shri A.D. Jain & Shri Vikram Singh Yadav

69, 69B or 69D is like an open ended hypothesis which is not supported by any specific finding that the matter shall fall under which of the specific sections and how the conditions stated therein are satisfied before the said provisions are invoked. It is like laying a general rule, which to our mind is beyond the mandate

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

In the result appeal of the assessee is dismissed

section 132 of the Income-tax Act, 1961 and the search\nproceedings did not lead to recovery of any incriminating evidence to show that\nthe transaction of purchase of shares was arranged as suspected by the\nAssessing Officer. It is also seen that no post-search enquiries on the issue had\nbeen conducted in the form of recording the statement

DCIT, CHANDIGARH vs. SH. PARAMJIT SINGH, MOHALI

Bench: Shri Sanjay Garg & Dr. B.R.R. Kumar

Capital gains ". Section 45 is a charging section. For the purpose of imposing the charge, Parliament has enacted detailed provisions in order to compute ITA Nos.41 to 44, 387, 45 to 54/Chd/17 & CO 16-to 30-Chd-2018- Shri Kulwant Singh & Others, Mohali 8 the profits or gains under that head. No existing principle or provision at variance with them

DCIT, CHANDIGARH vs. SMT. JASWANT KAUR, MOHALI

Bench: Shri Sanjay Garg & Dr. B.R.R. Kumar

Capital gains ". Section 45 is a charging section. For the purpose of imposing the charge, Parliament has enacted detailed provisions in order to compute ITA Nos.41 to 44, 387, 45 to 54/Chd/17 & CO 16-to 30-Chd-2018- Shri Kulwant Singh & Others, Mohali 8 the profits or gains under that head. No existing principle or provision at variance with them

DCIT, CHANDIGARH vs. SH. KULWANT SINGH, MOHALI

Bench: Shri Sanjay Garg & Dr. B.R.R. Kumar

Capital gains ". Section 45 is a charging section. For the purpose of imposing the charge, Parliament has enacted detailed provisions in order to compute ITA Nos.41 to 44, 387, 45 to 54/Chd/17 & CO 16-to 30-Chd-2018- Shri Kulwant Singh & Others, Mohali 8 the profits or gains under that head. No existing principle or provision at variance with them