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

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

term capital gain without bringing any material on record against the documents/findings discovered during the search proceedings by the Directorate of Investigation, Ahmadabad, Mumbai, Delhi, Chandigarh etc. 64. Generally, the principles of natural justice demands affording opportunity of cross-examination of the documentary evidence as well as the statements recorded of the parties if used against the assessee. But such

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

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

term capital gain without bringing any material on record against the documents/findings discovered during the search proceedings by the Directorate of Investigation, Ahmadabad, Mumbai, Delhi, Chandigarh etc. 64. Generally, the principles of natural justice demands affording opportunity of cross-examination of the documentary evidence as well as the statements recorded of the parties if used against the assessee. But such

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

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

term capital gain without bringing any material on record against the documents/findings discovered during the search proceedings by the Directorate of Investigation, Ahmadabad, Mumbai, Delhi, Chandigarh etc. 64. Generally, the principles of natural justice demands affording opportunity of cross-examination of the documentary evidence as well as the statements recorded of the parties if used against the assessee. But such

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

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

term capital gain without bringing any material on record against the documents/findings discovered during the search proceedings by the Directorate of Investigation, Ahmadabad, Mumbai, Delhi, Chandigarh etc. 64. Generally, the principles of natural justice demands affording opportunity of cross-examination of the documentary evidence as well as the statements recorded of the parties if used against the assessee. But such

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

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

term capital gain without bringing any material on record against the documents/findings discovered during the search proceedings by the Directorate of Investigation, Ahmadabad, Mumbai, Delhi, Chandigarh etc. 64. Generally, the principles of natural justice demands affording opportunity of cross-examination of the documentary evidence as well as the statements recorded of the parties if used against the assessee. But such

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

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

term capital gain without bringing any material on record against the documents/findings discovered during the search proceedings by the Directorate of Investigation, Ahmadabad, Mumbai, Delhi, Chandigarh etc. 64. Generally, the principles of natural justice demands affording opportunity of cross-examination of the documentary evidence as well as the statements recorded of the parties if used against the assessee. But such

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

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

term capital gain without bringing any material on record against the documents/findings discovered during the search proceedings by the Directorate of Investigation, Ahmadabad, Mumbai, Delhi, Chandigarh etc. 64. Generally, the principles of natural justice demands affording opportunity of cross-examination of the documentary evidence as well as the statements recorded of the parties if used against the assessee. But such

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

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

term capital gain without bringing any material on record against the documents/findings discovered during the search proceedings by the Directorate of Investigation, Ahmadabad, Mumbai, Delhi, Chandigarh etc. 64. Generally, the principles of natural justice demands affording opportunity of cross-examination of the documentary evidence as well as the statements recorded of the parties if used against the assessee. But such

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

In the result appeal of the assessee is dismissed

term capital gains on sale of shares, the same has been held to\nbe sham transaction merely on the ground of same being unlikely in the given\ncircumstances. The Assessing Officer, in the remand report has not been able to\ncontradict any of the facts regarding purchase of shares highlighted above or\nregarding the sale of shares

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

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

short period of time against their fundamentals and meager Financials. 4.4 The ld. CIT(A) further held that the appellant, alongwith his family members, had followed the above modus operandi consistently for various AYs by entering into transactions of penny stocks and earning huge Long Term Capital Gain, which were not genuine on the face itself; that the onus

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

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

short period of time against their fundamentals and meager Financials. 4.4 The ld. CIT(A) further held that the appellant, alongwith his family members, had followed the above modus operandi consistently for various AYs by entering into transactions of penny stocks and earning huge Long Term Capital Gain, which were not genuine on the face itself; that the onus

DESH MITTER GAIND,PANCHKULA vs. INCOME TAX OFFICER, WARD-1, PANCHKULA, PANCHKULA, HARYANA

Bench: This Tribunal. The Assessee Is Aggrieved By The Order Of Cit(A) Bearing No. Itba/Nfac/S/250/2023-

gain arisen on sale of land amounting to Rs.2,42,00,000/- has been found unexplained. 5. That a notice under Section 148 of the Act dated 30.03.2018 with the prior approval of the Principal ITA 454/CHD/2023 A.Y. 2011-12 3 Commissioner of Income Tax, Panchkula for the assessment year 2011-12 by Speed Post was issued

ACIT, CIRCLE, SHIMLA vs. SHRI VINOD SHARMA, NEW DELHI

In the result, the appeal of the Revenue is dismissed

Bench: Shri A.D. Jain & Dr Krinwant Sahayआयकर अपील सं./ Ita No. 1449/Chd/2019 "नधा"रण वष" / Assessment Year: 2015-16 The Acit, Vs. Shri Vinod Sharma, बनाम B-1/3, Circle, Safdarjang Enclave, Shimla New Delhi 110029 "थायी लेखा सं./Pan No: Abkps1560N अपीलाथ"/ Appellant ""यथ"/ Repsondent (Hybrid Mode ) "नधा"रती क" ओर से/Assessee By : Sh. Vishal Mohan, Sr. Advocate With Shri Ahninav Bazwaria, Advocate राज"व क" ओर से/ Revenue By : Smt. Kusum Bansal, Cit Dr सुनवाई क" तार"ख/Date Of Hearing : 10.06.2024 उदघोषणा क" तार"ख/Date Of Pronouncement : 09.07.2024

short term capital gain. It was held a light or interest in an immovable property can accrue only by way of an agreement embodying consensus ad idem as against the confirmation letter that does confer any right to claim title. Similarly in the case of R.L. Sood (supra), the Honorable High Court has declined request of the revenue to call

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, LUDHIANA vs. SUNIL KUMAR SOOD, PANCHKULA

The appeal of the Revenue is dismissed

Bench: Shri Rajpal Yadav & Shri Krinwant Sahay

short ‘the CIT (A)’] dated 19.02.2024 passed for assessment year 2017-18. The Revenue has taken five grounds of appeal, which read as under : 1. Whether on facts and circumstances of the case and in law, Id. CIT(A) erred in deleting the addition of Rs.2,41,88,998/- made by the AO in the assessment order? A.Y.2017-18

SH. MAHESH CHUGH,CHANDIGARH vs. PR.CIT-2, CHANDIGARH

In the result, the appeal of the assessee is allowed

short term capital loss, claiming cost of indexation and deduction u/s 54F amounting to Rs. 1,85,85,741/-. Further, a free hold residential house No. 3113, Sector 28-D, Chandigarh was purchased for a total consideration of Rs. 2,89,80,000/- ( Rs. 2,76,00,000/- + stamp duty of Rs. 13,80,000/-) by you and your wife

SHRI SATISH SOIN,LUDHIANA vs. ACIT, CC-II, LUDHIANA

In the result, appeal of the assessee is allowed

Bench: Shri Rajpal Yadav & Shri Manoj Kumar Aggarwalआयकर अपील सं./ Ita No. 303/Chd/2019 "नधा"रण वष" / Assessment Year : 2012-13 Shri Satish Soin, बनाम The Acit, House No.31, Garden Enclave, Central Circle-2, Vs South City-Ii, Ludhiana. Ludhiana. "थायी लेखा सं./Pan /Tan No: Advps6254N अपीलाथ"/Appellant ""यथ"/Respondent "नधा"रती क" ओर से/Assessee By : Shri Ashwani Kumar & Ms. Muskan Garg, Cas राज"व क" ओर से/ Revenue By : Smt. Kusum Bansal, Cit Dr तार"ख/Date Of Hearing : 26.05.2025 उदघोषणा क" तार"ख/Date Of Pronouncement : 23.07.2025 Hybrid Hearing आदेश/Order Per Rajpal Yadav, Vp

short ‘the CIT (A)’] dated 28.11.2018 passed for assessment year 2012-13. ITA-303/CHD/2019 A.Y. 2012-13 2 2. The assessee has taken three grounds of appeal out of which Ground Nos. 1 and 3 are general in nature which do not call for recording of any specific finding. 3. In Ground No.2, assessee has pleaded that

SH.ASHOK KUMAR GUPTA,LUDHIANA vs. PR.CIT-1, LUDHIANA

In the result, the appeal of the assessee is allowed

short ‘the Act’) dated 31/03/2021 pertaining to assessment year 2016-17, wherein the Assessee has taken the following grounds of appeal: “1. On the facts and under the circumstances of the case and in law, the learned Principal Commissioner of Income-tax - 1, Ludhiana erred in initiating proceedings under section 263 of the Act against the Appellant

SH. BALJINDER KUMAR AGGARWAL 171, MODEL TOWN LUDHIANA,PUNJAB vs. JATIN ABBI THE ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-1 LUDHIANA, PUNJAB

In the result, appeal of the Assessee is partly allowed

Bench: Shri Rajpal Yadav & Shri Manoj Kumar Aggarwalआयकर अपील सं./ Ita No. 689/Chd/2024 िनधा"रण वष" / Assessment Year : 2012-13 बनाम Shri Baljinder Kumar Aggarwal, The Acit, 171, Model Town, Circle-1, Vs Ludhiana. Ludhiana. "थायी लेखा सं./Pan /Tan No: Bmcpk7473A अपीलाथ"/Appellant ""यथ"/Respondent िनधा"रती क" ओर से/Assessee By : Shri Sudhir Sehgal, Advocate राज"व क" ओर से/ Revenue By : Shri Manav Bansal, Cit, Dr तारीख/Date Of Hearing : 21.08.2025 उदघोषणा क" तारीख/Date Of Pronouncement : 17.09.2025

short ‘the CIT (A)’] dated 25.04.2024 passed for assessment year 2012-13. 2. The assessee has taken six grounds of appeal alongwith sub-grounds (a) (b) (c) and (d) under Ground No.1. However, ITA 689/CHD/2024 A.Y. 2012-13 2 perusal of these grounds would reveal that grievance of the assessee revolves around two-fold, namely