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

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

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. 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. 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

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

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

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

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

SIKANDER SINGH MALUKA,MOHALI vs. ITO, MOHALI

In the result, the appeal of the assessee is allowed for

Bench: Shri Sanjay Garg & Ms. Annapurna Guptathe I.T.O., Vs. Sh.Sikandar Singh Maluka, Ward 5(1), # 1370, Sector 40-B, Chandigarh. Chandigarh Pan: Abzpm7206N & Sh.Sikandar Singh Maluka, Vs. The I.T.O., # 1370, Sector 40-B, Ward 5(2), Chandigarh. Chandigarh Pan: Abzpm7206N

short ‘the Act’) and addition made on account of Long Term Capital Gains earned on sale of plots of land owned by the assessee amounting to Rs.3.65 crores. An appeal against the aforesaid assessment order was filed to the CIT(Appeals), challenging both the validity of assessment framed u/s 147 of the Act and also merits of the case

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

M/S HERO INVESTMENT PVT. LTD.,LUDHIANA vs. DCIT, LUDHIANA

In the result, the appeal of the assessee is treated as partly allowed

Bench: Shri N.K. Saini & Shri Sanjay Gargआयकर अपील सं./ Ita No. 567/Chd/2015 "नधा"रण वष" / Assessment Year : 2010-11 M/S Hero Investment Pvt. Ltd., The Dcit, बनाम (Now Merged Into M/S Hero Moto Corp Circle V, Ltd.),Hero Nagar, G.T. Road, Ludhiana Ludhiana "थायी लेखा सं./Pan No: Aaach4072N अपीलाथ"/Appellant ""यथ"/Respondent

Short Term Capital Gain & Long Term Capital Gain as "Business Income" and has failed to allow the administration & other expenses at Rs. 1,91,521/-which were disallowed

UMESH KUMAR,MANDI vs. ITO, BILASPUR

In the result, appeal of the assessee is partly allowed

Bench: Ms. Diva Singhassessment Year: 2008-09

disallowed deduction u/s 54. 8. Any other ground which may be taken before the hearing with the permission of the Hon’ble Tribunal. 2. The relevant facts of the case are that the assessee returned an income under the heads “interest income” and “income from capital gains”. The said return was selected for scrutiny under Cass and after notices

SH. ABHIMANYU SOIN,LUDHIANA vs. ACIT, LUDHIANA

In the result, appeal of the Assessee is dismissed

Bench: Shri. Sanjay Garg, Judicial, Member & Dr. B.R.R. Kumarassessment Year: 2011-12

Term capital gains of Rs. 80,85,577/- within 1.5 years of buying shares worth Rs. 2,72,000/- of a non descript company. The Assessing Officer was also of view that it was quite possible that the appellant had not purchased the shares of M/s Sharp Transport Ltd. as was claimed by the appellant, in 2008 and had fictitiously

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