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

capital gain in assessment year under consideration i.e. 2007-08 amounting to Rs. 5,23,23,470/-. 6. The facts of the case are that the assessee filed return of income on 03.03.2008 declaring income of Rs. 99,990/- + agriculture income of Rs. 1,75,000/-. The Assessing Officer issued notice under section

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

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

75-80 during 2010 to 2014 was not justified. However, the trade volume of shares of M/s Blue circle services Ltd has been recorded at Rs.1387.66 crores during such period which was done through the several brokers. Most of the brokers at different point of time have admitted on oath to have arranged bogus long-term capital gain to certain

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

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

75-80 during 2010 to 2014 was not justified. However, the trade volume of shares of M/s Blue circle services Ltd has been recorded at Rs.1387.66 crores during such period which was done through the several brokers. Most of the brokers at different point of time have admitted on oath to have arranged bogus long-term capital gain to certain

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

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

75-80 during 2010 to 2014 was not justified. However, the trade volume of shares of M/s Blue circle services Ltd has been recorded at Rs.1387.66 crores during such period which was done through the several brokers. Most of the brokers at different point of time have admitted on oath to have arranged bogus long-term capital gain to certain

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

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

75-80 during 2010 to 2014 was not justified. However, the trade volume of shares of M/s Blue circle services Ltd has been recorded at Rs.1387.66 crores during such period which was done through the several brokers. Most of the brokers at different point of time have admitted on oath to have arranged bogus long-term capital gain to certain

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

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

75-80 during 2010 to 2014 was not justified. However, the trade volume of shares of M/s Blue circle services Ltd has been recorded at Rs.1387.66 crores during such period which was done through the several brokers. Most of the brokers at different point of time have admitted on oath to have arranged bogus long-term capital gain to certain

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

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

75-80 during 2010 to 2014 was not justified. However, the trade volume of shares of M/s Blue circle services Ltd has been recorded at Rs.1387.66 crores during such period which was done through the several brokers. Most of the brokers at different point of time have admitted on oath to have arranged bogus long-term capital gain to certain

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

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

75-80 during 2010 to 2014 was not justified. However, the trade volume of shares of M/s Blue circle services Ltd has been recorded at Rs.1387.66 crores during such period which was done through the several brokers. Most of the brokers at different point of time have admitted on oath to have arranged bogus long-term capital gain to certain

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

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

75-80 during 2010 to 2014 was not justified. However, the trade volume of shares of M/s Blue circle services Ltd has been recorded at Rs.1387.66 crores during such period which was done through the several brokers. Most of the brokers at different point of time have admitted on oath to have arranged bogus long-term capital gain to certain

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

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

75-80 during 2010 to 2014 was not justified. However, the trade volume of shares of M/s Blue circle services Ltd has been recorded at Rs.1387.66 crores during such period which was done through the several brokers. Most of the brokers at different point of time have admitted on oath to have arranged bogus long-term capital gain to certain

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

gains. In view of the above facts and discussion, it was held by the ld CIT(A) that disallowance of capital loss of Rs. 25,75,000/- made by the AO was justified and the appeal of the assessee was dismissed. 6. Against the said findings and directions of the ld CIT(A), the assessee is in appeal before this

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 10(38) of the Act in respect of long-term capital gains earned on transfer of shares held in M/s Maa Jagdambe Trade Link Limited, as under: Name of No. of Purchase of shares Sale of shares Long term Share shares Date of Cost Price Date of Sale Price capital gain Sale purchase Maa 18.75.000 12.03.2013 Rs.37,50.000 Various

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

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

section 10(38) of the Act in respect of long-term capital gains earned on transfer of shares held in M/s Maa Jagdambe Trade Link Limited, as under: Name of No. of Purchase of shares Sale of shares Long term Share shares Date of Cost Price Date of Sale Price capital gain Sale purchase Maa 18.75.000 12.03.2013 Rs.37,50.000 Various

SMT. TEENA GARG,CHANDIGARH vs. PCIT, PANCHKULA

In the result, appeal of the assessee is allowed

capital gain of Rs.\n28,75,041/- and that it is exempt under section 10 and not liable to\ntax

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

In the result, the appeal of the Revenue is dismissed

Bench: Disposal Of Appeal.”

Capital Gain' but 'income from other sources". The assessee's alternate plea that the entire sale proceeds would qualify as agricultural income does not hold in light of ITAT's clear cut finding that the proceeds, in excess of the amount considered for stamp duty valuation & consequent registration, shall partake the character of 'income from other sources' and assessed

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

In the result, the appeal of the Revenue is dismissed

Bench: Disposal Of Appeal.”

Capital Gain' but 'income from other sources". The assessee's alternate plea that the entire sale proceeds would qualify as agricultural income does not hold in light of ITAT's clear cut finding that the proceeds, in excess of the amount considered for stamp duty valuation & consequent registration, shall partake the character of 'income from other sources' and assessed

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

In the result, the appeal of the Revenue is dismissed

Bench: Disposal Of Appeal.”

Capital Gain' but 'income from other sources". The assessee's alternate plea that the entire sale proceeds would qualify as agricultural income does not hold in light of ITAT's clear cut finding that the proceeds, in excess of the amount considered for stamp duty valuation & consequent registration, shall partake the character of 'income from other sources' and assessed

ITO, LUDHIANA vs. SH. CHARANJIT SINGH ATWAL, LUDHIANA

In the result, the penalty of the assessee is hereby allowed and that of the Revenue is dismissed

Bench: Shri Sanjay Garg & Dr. B.R.R. Kumarassessment Year : 2007-08 Sh. Charanjit Singh Atwal, Vs. The Ito, Ward 6(1), 484-A, Model Town Extension, Ludhiana Ludhiana

75,000/- (Rs. 106,42,50,000/- in cash and Rs. 103,61,25,000/- in kind being value of 129 flats of 2250 sq. feet each to be constructed ) payable on pro- rata transfer of land. Rs. 3.87 crores received as adjustable advance to be disbursed by THDC through Hash to each individual member of the society, and different