SANJEEV KUMAR KATHURIA,YAMUNA NAGAR vs. INCOME TAX OFFICER WARD 1 , YAMUNANAGAR

In the result, the appeal of the assessee is allowed

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

gain. It was submitted that the Assessing officer thereafter vide notice under section 142(1) dated 17/11/2020 & notice U/s 142(1) dated 11/01/2021 hadsought valuation report and assessee has given reply on 22/12/2020 & 26/01/2021 in response to his question raised and submitted valuation report from Income Tax approved registered valuer. The AO has made due enquiry and accepted

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

In the result appeal of the assessee is dismissed

gains (hereinafter called LTCG) which is exempt from tax u/s\n10(38) of the Income Tax Act, 1961.\nModus Operandi\n2.11 The modus operandi adopted by the “operators” was to make the\nbeneficiaries buy some shares of a pre determined penny stock\ncompanies controlled by them. These shares were transferred to the\nbeneficiaries at a very nominal price mostly

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

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

price of the alleged companies. The AO while treating the impugned long-term capital gain as bogus in nature has referred to various statements and documents seized in the course of search from the place of the 3rd parties. As such there was no iota of evidence found from the premises of the assessee suggesting that the assessee was engaged

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

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

price of the alleged companies. The AO while treating the impugned long-term capital gain as bogus in nature has referred to various statements and documents seized in the course of search from the place of the 3rd parties. As such there was no iota of evidence found from the premises of the assessee suggesting that the assessee was engaged

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

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

price of the alleged companies. The AO while treating the impugned long-term capital gain as bogus in nature has referred to various statements and documents seized in the course of search from the place of the 3rd parties. As such there was no iota of evidence found from the premises of the assessee suggesting that the assessee was engaged

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

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

price of the alleged companies. The AO while treating the impugned long-term capital gain as bogus in nature has referred to various statements and documents seized in the course of search from the place of the 3rd parties. As such there was no iota of evidence found from the premises of the assessee suggesting that the assessee was engaged

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

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

price of the alleged companies. The AO while treating the impugned long-term capital gain as bogus in nature has referred to various statements and documents seized in the course of search from the place of the 3rd parties. As such there was no iota of evidence found from the premises of the assessee suggesting that the assessee was engaged

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

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

price of the alleged companies. The AO while treating the impugned long-term capital gain as bogus in nature has referred to various statements and documents seized in the course of search from the place of the 3rd parties. As such there was no iota of evidence found from the premises of the assessee suggesting that the assessee was engaged

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

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

price of the alleged companies. The AO while treating the impugned long-term capital gain as bogus in nature has referred to various statements and documents seized in the course of search from the place of the 3rd parties. As such there was no iota of evidence found from the premises of the assessee suggesting that the assessee was engaged

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

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

price of the alleged companies. The AO while treating the impugned long-term capital gain as bogus in nature has referred to various statements and documents seized in the course of search from the place of the 3rd parties. As such there was no iota of evidence found from the premises of the assessee suggesting that the assessee was engaged

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

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

price of the alleged companies. The AO while treating the impugned long-term capital gain as bogus in nature has referred to various statements and documents seized in the course of search from the place of the 3rd parties. As such there was no iota of evidence found from the premises of the assessee suggesting that the assessee was engaged

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

transferred the shares to Jardine Henderson & Co. at the rate of Rs. 493-10-0 per share. The Assessing Officer while assessing the respondent to tax for the assessment year 1947-48 held the capital gain to be Rs. 484/- per share being the difference between the market price

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

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

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

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

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

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

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

In the result, the appeal of the Revenue is dismissed

Bench: Disposal Of Appeal.”

transfer of the capital asset" the following amounts— Thus for the purpose of computing the capital gains, full value of consideration received is to be considered. No where this section refers to consideration mentioned in the documents "registered deed in respect of immovable property", although it is subject to section 50C where the property is registered at a price

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

In the result, the appeal of the Revenue is dismissed

Bench: Disposal Of Appeal.”

transfer of the capital asset" the following amounts— Thus for the purpose of computing the capital gains, full value of consideration received is to be considered. No where this section refers to consideration mentioned in the documents "registered deed in respect of immovable property", although it is subject to section 50C where the property is registered at a price

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

In the result, the appeal of the Revenue is dismissed

Bench: Disposal Of Appeal.”

transfer of the capital asset" the following amounts— Thus for the purpose of computing the capital gains, full value of consideration received is to be considered. No where this section refers to consideration mentioned in the documents "registered deed in respect of immovable property", although it is subject to section 50C where the property is registered at a price

SH. MOHINDER KUMAR,RAJPURA vs. ACIT, CIRCLE, PATIALA

In the result, all the three captioned appeals are allowed

Bench: Shri Sanjay Gargआयकर अपील सं./ Ita No. 433 /Chd/2023 "नधा"रण वष" / Assessment Year : 2018-19 बनाम Shri Mohinder Kumar, The Acit, #371, Dalima Vihar, Circle, Rajpaura 140401 Patiala Punjab "थायी लेखा सं./Pan No: Aenpk2131D अपीलाथ"/Appellant ""यथ"/Respondent

transfer of the joint land by the Assessee and his family members in lieu of Simran Dhaba would be estimated at Rs. 97 lacs, therefore, he calculated the 1/6th share of the Assessee out of said capital gains at Rs. 16,66,667/-. He also denied the deduction claimed by the Assessee u/s 54B of the Act by observing that