SH. ASHISH JAIN,LUDHIANA vs. DCIT, CC-III, LUDHIANA

In the result, the ground no

Bench: SHRI. AAKASH DEEP JAIN (Vice President), SHRI. VIKRAM SINGH YADAV (Accountant Member)

153, the intention of the Legislature is clear, viz, to provide for assessment in case of search and requisition. When, the very purpose of the provision is to make assessment in case of search or requisition, it goes without saying that the assessment has to have relation to the search or requisition. In other words, the assessment, should be connected

SH. AKHIL JAIN,LUDHIANA vs. DCIT, CC-III, LUDHIANA

In the result, the ground no

Bench: SHRI. AAKASH DEEP JAIN (Vice President), SHRI. VIKRAM SINGH YADAV (Accountant Member)

153, the intention of the Legislature is clear, viz, to provide for assessment in case of search and requisition. When, the very purpose of the provision is to make assessment in case of search or requisition, it goes without saying that the assessment has to have relation to the search or requisition. In other words, the assessment, should be connected

SH. ASHISH JAIN,LUDHIANA vs. DCIT, CC-III, LUDHIANA

In the result, the ground no

Bench: SHRI. AAKASH DEEP JAIN (Vice President), SHRI. VIKRAM SINGH YADAV (Accountant Member)

153, the intention of the Legislature is clear, viz, to provide for assessment in case of search and requisition. When, the very purpose of the provision is to make assessment in case of search or requisition, it goes without saying that the assessment has to have relation to the search or requisition. In other words, the assessment, should be connected

M/S JAIN AMAR CLOTHING PVT. LTD.,LUDHIANA vs. DCIT, CC-III, LUDHIANA

In the result, the ground no

Bench: SHRI. AAKASH DEEP JAIN (Vice President), SHRI. VIKRAM SINGH YADAV (Accountant Member)

153, the intention of the Legislature is clear, viz, to provide for assessment in case of search and requisition. When, the very purpose of the provision is to make assessment in case of search or requisition, it goes without saying that the assessment has to have relation to the search or requisition. In other words, the assessment, should be connected

S.P. SINGLA CONSTRUCTION PRIVATE LIMITED,DELHI vs. DEPUTY COMMISSIONER OF INCOME TAX, CHANDIGARH

In the result, the appeal is allowed

Bench: SHRI MAHAVIR SINGH (Vice President), SHRI KRINWANT SAHAY (Accountant Member)

153-C.” 4. The brief facts are that a search & seizure operation was conducted on Bakshi Group of cases including the assessee on 10.12.2012 under Section 132 of the Act and consequent to the same, assessment under Section 153A r.w. section 143(3) of the Act was framed vide order dated 31.03.2015 originally. Subsequently, second search under Section

DY. COMMISSIONER OF INCOME TAX, CIRCLE-4, LUDHIANA, - vs. ROCKMAN INDUSTRIES LTD, -

In the result order of CIT(A) is sustained as passed and the appeal of the Revenue is partly allowed for statistical purposes

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

disallowable =Rs.85,00,000+ Rs.11,22,04,500 Rs.12,07,04,500/- Therefore, an amount of Rs.12,07,04,500/- is being added to the income of the assessee. Hence, I am satisfied that the assessee company has under reported income is in consequence of any misreported thereof for which the penalty provisions of section 270A

DY. COMMISSIONER OF INCOME TAX, CIRCLE-4,, AAYAKAR BHAWAN vs. ROCKMAN INDUSTRIES LIMITED, -

In the result order of CIT(A) is sustained as passed and the appeal of the Revenue is partly allowed for statistical purposes

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

disallowable =Rs.85,00,000+ Rs.11,22,04,500 Rs.12,07,04,500/- Therefore, an amount of Rs.12,07,04,500/- is being added to the income of the assessee. Hence, I am satisfied that the assessee company has under reported income is in consequence of any misreported thereof for which the penalty provisions of section 270A

DY. COMMISSIONER OF INCOME TAX, CIRCLE-4, , AAYAKAR BHAWAN vs. ROCKMAN INDUSTRIES LIMITED, -

In the result order of CIT(A) is sustained as passed and the appeal of the Revenue is partly allowed for statistical purposes

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

disallowable =Rs.85,00,000+ Rs.11,22,04,500 Rs.12,07,04,500/- Therefore, an amount of Rs.12,07,04,500/- is being added to the income of the assessee. Hence, I am satisfied that the assessee company has under reported income is in consequence of any misreported thereof for which the penalty provisions of section 270A

DY. COMMISSIONER OF INCOME TAX, AAYAKAR BHAWAN vs. ROCKMAN INDUSTRIES LIMITED, FOCAL POINT

In the result order of CIT(A) is sustained as passed and the appeal of the Revenue is partly allowed for statistical purposes

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

disallowable =Rs.85,00,000+ Rs.11,22,04,500 Rs.12,07,04,500/- Therefore, an amount of Rs.12,07,04,500/- is being added to the income of the assessee. Hence, I am satisfied that the assessee company has under reported income is in consequence of any misreported thereof for which the penalty provisions of section 270A

DY. COMMISSIONER OF INCOME TAX, CIRCLE-4, LUDHIANA, AAYAKAR BHAWAN vs. ROCKMAN INDUSTRIES LIMITED, -

In the result order of CIT(A) is sustained as passed and the appeal of the Revenue is partly allowed for statistical purposes

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

disallowable =Rs.85,00,000+ Rs.11,22,04,500 Rs.12,07,04,500/- Therefore, an amount of Rs.12,07,04,500/- is being added to the income of the assessee. Hence, I am satisfied that the assessee company has under reported income is in consequence of any misreported thereof for which the penalty provisions of section 270A

DY. COMMISSIONER OF INCOME TAX, CIRCLE-4, AAYAKAR BHAWAN vs. ROCKMAN INDUSTRIES LIMITED, -

In the result order of CIT(A) is sustained as passed and the appeal of the Revenue is partly allowed for statistical purposes

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

disallowable =Rs.85,00,000+ Rs.11,22,04,500 Rs.12,07,04,500/- Therefore, an amount of Rs.12,07,04,500/- is being added to the income of the assessee. Hence, I am satisfied that the assessee company has under reported income is in consequence of any misreported thereof for which the penalty provisions of section 270A

ASSTT. COMMISSIONER OF INCOME TAX, CIRCLE-4, AAYAKAR BHAWAN vs. ROCKMAN INDUSTRIES LIMITED, -

In the result order of CIT(A) is sustained as passed and the appeal of the Revenue is partly allowed for statistical purposes

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

disallowable =Rs.85,00,000+ Rs.11,22,04,500 Rs.12,07,04,500/- Therefore, an amount of Rs.12,07,04,500/- is being added to the income of the assessee. Hence, I am satisfied that the assessee company has under reported income is in consequence of any misreported thereof for which the penalty provisions of section 270A

DCIT CIRCLE-4, LUDHIANA, LUDHIANA vs. ROCKMAN INDUSTRIES LTD, LUDHIANA

In the result order of CIT(A) is sustained as passed and the appeal of the Revenue is partly allowed for statistical purposes

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

disallowable =Rs.85,00,000+ Rs.11,22,04,500 Rs.12,07,04,500/- Therefore, an amount of Rs.12,07,04,500/- is being added to the income of the assessee. Hence, I am satisfied that the assessee company has under reported income is in consequence of any misreported thereof for which the penalty provisions of section 270A

ACIT, CIRCLE 1(1), CHANDIGARH vs. M/S SML ISUZU LTD., CHANDIGARH

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

disallowed from the gross dividend income received by the assessee. From the reasons recorded by the Assessing Officer, it was clear that the assessment was sought to be reopened merely on suspicion that the assessee might have utilized the borrowed fund for investment and that the assessee might have incurred expenditure for earning the dividend income. There was no material

KANDI FRIENDS EDUCATIONAL TRUST,ROPAR vs. DEPUTY COMMISSIONER OF INCOME TAX, CHANDIGARH

In the result, both the appeals are allowed

Bench: Shri Rajpal Yadav & Shri Krinwant Sahay

153 Non-utilisation of accumulated Funds (AY 6,27,75,303 2010-11) Disallowance of Revenue Expenditure on AME 15,17,461 Course Disallowance of Donation 1,10,000 Depreciation disallowed and excess of income 2,82,41,720 over expenditure Total Taxable Income 10,47,74,451 5. The assessee has taken eight grounds of appeal in assessment year

KANDI FRIENDS EDUCATIONAL TRUST,ROPAR vs. DEPUTY COMMISSION OF INCOME TAX, CL. 1, EXEMPTION, CHANDIGARH

In the result, both the appeals are allowed

Bench: Shri Rajpal Yadav & Shri Krinwant Sahay

153 Non-utilisation of accumulated Funds (AY 6,27,75,303 2010-11) Disallowance of Revenue Expenditure on AME 15,17,461 Course Disallowance of Donation 1,10,000 Depreciation disallowed and excess of income 2,82,41,720 over expenditure Total Taxable Income 10,47,74,451 5. The assessee has taken eight grounds of appeal in assessment year

SHRI ABHISHEK SOIN,LUDHIANA vs. DCIT, CC-II, LUDHIANA

The appeals are partly allowed

Bench: Shri Rajpal Yadav & Shri Krinwant Sahayआयकर अपील सं./ Ita No. 321 & 322/Chd/2019 "नधा"रण वष" / Assessment Year: 2010-11, 2011-12 Shri Abhishek Soin, The Dcit, C/O Sigma Cartons Pvt. Ltd., Vs Central Circle-Ii, Unit-Ii, Industrial Area-C, Ludhiana. Sua Road, Ludhiana. "थायी लेखा सं./Pan No: Anbps9446A अपीलाथ"/Appellant ""यथ"/Respondent Assessee By : Shri Aditya Kumar, Ca Revenue By : Shri Manav Bansal, Cit Dr Date Of Hearing : 03.06.2025 Date Of Pronouncement : 29.07.2025 Hybrid Hearing O R D E R

153(C), case of CIT Vs. Kabul Chawla, 61 Taxmann.com 412(Delhi) , CIT Vs RRJ Securities 380 ITR62 and Pr. CIT Vs Lata Jain in ITA No.274/2016 dated 29.04.2016 the decision lay down the propositions that in the absence of any incriminating material found during the course of search and where the assessment proceeding having not been abated

SHRI ABHISHEK SOIN,LUDHIANA vs. DCIT, CC-II, LUDHIANA

The appeals are partly allowed

Bench: Shri Rajpal Yadav & Shri Krinwant Sahayआयकर अपील सं./ Ita No. 321 & 322/Chd/2019 "नधा"रण वष" / Assessment Year: 2010-11, 2011-12 Shri Abhishek Soin, The Dcit, C/O Sigma Cartons Pvt. Ltd., Vs Central Circle-Ii, Unit-Ii, Industrial Area-C, Ludhiana. Sua Road, Ludhiana. "थायी लेखा सं./Pan No: Anbps9446A अपीलाथ"/Appellant ""यथ"/Respondent Assessee By : Shri Aditya Kumar, Ca Revenue By : Shri Manav Bansal, Cit Dr Date Of Hearing : 03.06.2025 Date Of Pronouncement : 29.07.2025 Hybrid Hearing O R D E R

153(C), case of CIT Vs. Kabul Chawla, 61 Taxmann.com 412(Delhi) , CIT Vs RRJ Securities 380 ITR62 and Pr. CIT Vs Lata Jain in ITA No.274/2016 dated 29.04.2016 the decision lay down the propositions that in the absence of any incriminating material found during the course of search and where the assessment proceeding having not been abated