SH. BIPAN 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)

long term capital gains on sale of shares. 11. In his submissions, the ld CIT/DR submitted that it is a clear case where incriminating material has been found during the course of search in terms of share certificates and the contract notes. It was submitted that both the AO as well as the Ld. CIT(A) have recorded a categorical

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)

long term capital gains on sale of shares. 11. In his submissions, the ld CIT/DR submitted that it is a clear case where incriminating material has been found during the course of search in terms of share certificates and the contract notes. It was submitted that both the AO as well as the Ld. CIT(A) have recorded a categorical

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)

long term capital gains on sale of shares. 11. In his submissions, the ld CIT/DR submitted that it is a clear case where incriminating material has been found during the course of search in terms of share certificates and the contract notes. It was submitted that both the AO as well as the Ld. CIT(A) have recorded a categorical

AMARJIT SINGH MARWAHA ,SHIMLA vs. ITO, NATIONAL FACELESS APPEAL CENTRE, DELHI

In the result, appeal of the assessee is partly allowed

Bench: Shri Rajpal Yadavआयकर अपील सं./ Ita No. 1379/Chd/2025 "नधा"रण वष" / Assessment Year: 2013-14 Shri Amarjit Singh Marwaha, The Ito, Cottage No.1, Sadhora, Vs Ward-1, Mashobra, Baldeyan, Shimla. Shimla. "थायी लेखा सं./Pan No: Aeepm0161N अपीलाथ"/Appellant ""यथ"/Respondent Assessee By : Shri Vishal Mohan Sr.Advocate, With Shri Abhinav Bijwaria, Advocate Revenue By : Shri Vivek Vardhan, Addl. Cit Sr.Dr Date Of Hearing : 21.01.2026 Date Of Pronouncement : 28.01.2026

Long Term Capital Gain in his computation of income but during the course of scrutiny assessment, he has filed the computation vide reply dated 10.11.2015, therefore, AO must have applied his mind and this assessment is being reopened after expiry of four years which cannot be done. 10. With the assistance of ld. Representative, I have gone through the record

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

Long Term Capital Gain (LTCG) which is exempt from tax. The modus operandi adopted by the operators was to make the beneficiary buy some shares of a predetermined Penny stock company controlled by them. These shares are transferred to the beneficiary at a very nominal price mostly off-line through preferential allotment or off-line sale to save

PAWAN GARG,PANCHKULA vs. ITO WARD 5((5) CHANDIGARH, CHANDIGARH

In the result, appeal of the assessee is allowed

Bench: Shri Rajpal Yadav & Shri Manoj Kumar Aggarwalआयकर अपील सं./ Ita No. 1218/Chd/2024 "नधा"रण वष" / Assessment Year: 2014-15 Shri Pawan Garg, The Ito, House No. 766, Sector 16, Vs Ward 5(5), Panchkula. Chandigarh. "थायी लेखा सं./Pan No: Abmpg4243N अपीलाथ"/Appellant ""यथ"/Respondent Assessee By : Shri Ajay Jain, Ca Revenue By : Dr. Ranjit Kaur, Addl. Cit Sr.Dr Date Of Hearing : 27.01.2026 Date Of Pronouncement : 02.02.2026

Long Term Capital Gain and has rightly reopened the assessment. 7. We have duly considered the rival contentions and gone through the record carefully. A perusal of Section 147, as was applicable in assessment year 2013-14 would indicate that if AO has reasons to believe that any income chargeable to tax has escaped assessment, for any 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

Long Term Capital Gain (LTCG) which is exempt from tax. The modus operandi adopted by the operators was to make the beneficiary buy some shares of a predetermined Penny stock company controlled by them. These shares are transferred to the beneficiary at a very nominal price mostly off-line through preferential allotment or off-line sale to save

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

Long Term Capital Gain (LTCG) which is exempt from tax. The modus operandi adopted by the operators was to make the beneficiary buy some shares of a predetermined Penny stock company controlled by them. These shares are transferred to the beneficiary at a very nominal price mostly off-line through preferential allotment or off-line sale to save

ANIL KUMAR CO MS BHARAT BOX FACTORY LTD. BEANTPURA, CHANDIGARH ROAD, LUDHIANA,LUDHIANA vs. JATIN ABHI, ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1, LUDHIANA, PUNJAB

In the result, appeal of the Assessee is partly allowed

Bench: him.

long term capital gain on the sale of shares amounting to 17140 and claimed the same as exempt u/s 10(38).During the reassessment

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

long term capital gain on the sale of shares amounting to 17140 and claimed the same as exempt u/s 10(38). During the reassessment

DHARAMPAL SAGHERA,CHANDIGARH vs. INCOME TAX OFFICER, WARD-1(4), CHANDIGARH , CHANDIGARH

In the result, the appeal of the assessee bearing ITA No

Bench: Sh. Laliet Kumar Hon’Ble & Sh. Manoj Kumar Aggarwal, Hon’Ble

long-term capital gain and is eligible for deduction under Sections 54 and 54EC. The reassessment and addition made by the AO are not sustainable

SHRI MOHAN LAL GUPTA,SHIMLA vs. PR.CIT-1, CHANDIGARH

In the result, appeal of the Assessee is partly allowed

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

Long Term Capital Gains were determined at Rs. 1,57,62,283/- and after taking into consideration, the income originally assessed under section 143(3) amounting to Rs. 3,69,540/-, the reassessed

SMT. RITU SOIN,LUDHIANA vs. ACIT, CC-II, LUDHIANA

In the result, both the appeals are allowed

long term capital gain shown by\nthe assessee is ingenuine, was found during the course of search. The Ld CIT may\nhave set aside the assessment order under section 263 on whatever ground, but still\nthe fresh assessment has to be completed taking into consideration the decisions of\nthe courts and appellate authorities prevailing at that time. Even while\nadjudicating

SMT. GINNY SOIN,LUDHIANA vs. ACIT, CC-II, LUDHIANA

The appeals are partly allowed

Long Term Capital Gain (LTCG) which is exempt\nfrom tax. The modus operandi adopted by the operators was to\nmake the beneficiary buy some shares of a predetermined Penny\nstock company controlled by them. These shares are transferred\nto the beneficiary at a very nominal price mostly off-line through\npreferential allotment or off-line sale to save

SMT. GINNY SOIN,LUDHIANA vs. ACIT, CC-II, LUDHIANA

The appeals are partly allowed

Long Term Capital Gain (LTCG) which is exempt\nfrom tax. The modus operandi adopted by the operators was to\nmake the beneficiary buy some shares of a predetermined Penny\nstock company controlled by them. These shares are transferred\nto the beneficiary at a very nominal price mostly off-line through\npreferential allotment or off-line sale to save

SH. DINESH SOIN,LUDHIANA vs. ACIT, LUDHIANA

The appeals are partly allowed

Long Term Capital Gain (LTCG) which is exempt\nfrom tax. The modus operandi adopted by the operators was to\nmake the beneficiary buy some shares of a predetermined Penny\nstock company controlled by them. These shares are transferred\nto the beneficiary at a very nominal price mostly off-line through\npreferential allotment or off-line sale to save

INCOME TAX OFFICER, PARWANOO, H.P vs. DEYEM INDUSTRY, NALAGARH SOLAN

In the result, appeal of the Revenue is dismissed

Bench: SHRI. LALIET KUMAR (Judicial Member), SHRI. KRINWANT SAHAY, AM आयकर अपील सं. / ITA No. 708/Chd/2023 निर्धारण वर्ष / Assessment Year : 2012-13 The ITO Parwanoo, Himachal Pradesh बनाम DEYEM INDUSTRY Nalagarh, Ropar Road Near Hazat Khana, Nalagarh, H.P.- 174101 स्थायी लेखा सं./ PAN NO: AAGFD0437L अपीलार्थी/ Appellant प्रत्यर्थी/Respondent निर्धारिती की ओर से/Assessee by : Shri Ankit Awal, Ms. Khushbu Sood, Advocates राजस्व की ओर से/ Revenue by : Shri Rohit Sharma, CIT DR (Virtual) सुनवाई की ता

reassessment was invalid, allowing the appeal on this ground. 4.2 On Ground No. 3, the assessee challenged the AO’s addition of Rs. 3,34,37,500/- as under-declared Long Term Capital Gain

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, LUDHIANA , LUDHIANA vs. ROSHA ALLOYS PVT. LTD., MANDI GOBINDGARH

In the result, the appeals filed by the Revenue are dismissed,\nwhereas the appeals of the assessee are allowed

long term\ncapital gain from the sale of shares, which manifests the contradiction.\nNothing more is necessary to specify as the matter is as apparent as\ncan be. Therefore, this is a clear case of issuing notices based on\ndisclosure in the existing Return of Income filed by the Assessee but on\nincorrect premise of nondisclosure. There