M/S DIN DAYAL PURSOTAM LAL,SIRSA vs. PR.CIT, ROHTAK

Bench: SHRI A.D.JAIN (Vice President), SHRI VIKRAM SINGH YADAV (Accountant Member)

40A(3) of the Act is unsustainable. As in the cited case, here also, there is no evidence worth its name to incriminate the assessee and this conclusion has been arrived at only on premises and conjectures, rendering it unsustainable in the eye of law. ITA 146,147 & 148/CHD/2021 A.Y. 2011-12, 2015-16 & 2016-17 38 12. Then

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)

40A(3) of Income Tax Act and same has been challenged before NFAC New Delhi. 9. The ld. AR further submitted that the Assessing officer has made enquiry in respect of FMV of residential house as on 1-4-2001 vide notice under section 142(1) dated 07/02/2020 and asked for details of sale of property

SH. GURINDER MAKKAR,LUDHIANA vs. DCIT, CC-3, LUDHIANA

In the result, the appeal of the assessee is disposed off in light of aforesaid directions

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

house property’, (iii) ‘profits and gains from business or profession’, (iv) ‘capital gains’ and (v) ‘income from other sources’ – cannot at all be adjusted against unexplained investment or expenditure. What is necessary as per Hon. Gujarat High Court is that source of acquisition of asset or expenditure should be clearly identifiable. In the case before Hon. Gujarat High Court

ASSISSTANT COMMISSIONER OF INCOME TAX, CIRCLE-1, CHANDIGARH, CHANDIGARH vs. HERITAGE EDUCATION SOCIETY , C/O DELHI PUBLIC SCHOOL

In the result, all the appeals filed by the Department

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

house properties, have invested in mutual funds and have sold properties. All these activities demand time and commitment and when this fact is seem alongwith the fact that the members are not available in school for most of the time, it can safely be concluded that the members have not been giving the time and commitment to the society

ASSISSTANT COMMISSIONER OF INCOME TAX, CIRCLE-1, EXEMPTION, CHANDIGARH, CHANDIGARH vs. HERITAGE EDUCATIONAL SOCIETY, C/O DELHI PUBLIC SCHOOL

In the result, all the appeals filed by the Department

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

house properties, have invested in mutual funds and have sold properties. All these activities demand time and commitment and when this fact is seem alongwith the fact that the members are not available in school for most of the time, it can safely be concluded that the members have not been giving the time and commitment to the society

ASSISSTANT COMMISSONER OF INCOME TAX, CIRCLE-1, EXEMPTION, CHANDIGARH, CHANDIGARH vs. HERITAGE EDUCATIONAL SOCIETY, C/O DELHI PUBLIC SCHOOL

In the result, all the appeals filed by the Department

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

house properties, have invested in mutual funds and have sold properties. All these activities demand time and commitment and when this fact is seem alongwith the fact that the members are not available in school for most of the time, it can safely be concluded that the members have not been giving the time and commitment to the society

ASSISSTANT COMMISSIONER OF INCOME TAX, CIRCLE-1,EXEMPTION,CHANDIGARH, CHANDIGARH vs. HERITAGE EDUCATIONAL SOCIETY, C/O DELHI PUBLIC SCHOOL

In the result, all the appeals filed by the Department

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

house properties, have invested in mutual funds and have sold properties. All these activities demand time and commitment and when this fact is seem alongwith the fact that the members are not available in school for most of the time, it can safely be concluded that the members have not been giving the time and commitment to the society

M/S ASHA TECHNOLOGIES,KALA AMB vs. ITO, SIRMOUR

In the result, both the above appeals of the Assessee are partly allowed as aforesaid in respect of impugned orders dt

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

section 40A(3) of Income Tax Act 1961 .Therefore, this amount of Rs 1,23,299/- is added back to the income of the assessee being unexplained cash credit since the same are not reflected in assessee's regular books of accounts on those relevant dates.. Since the above transaction also violated the provisions of section

M/S ASHA TECHNOLOGIES,SIRMOUR vs. ADDL. CIT, SOLAN

In the result, both the above appeals of the Assessee are partly allowed as aforesaid in respect of impugned orders dt

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

section 40A(3) of Income Tax Act 1961 .Therefore, this amount of Rs 1,23,299/- is added back to the income of the assessee being unexplained cash credit since the same are not reflected in assessee's regular books of accounts on those relevant dates.. Since the above transaction also violated the provisions of section