M/S CREDO ASSETS PVT. LTD.,RUPNAGAR PUNJAB vs. DCIT/ACIT(CEN)-1 CHD, CHANDIGARH

The appeals stand partly allowed

Bench: Hon’Ble Shri Rajpal Yadav & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकर अपील सं./ Ita No.487/Chandi/2025 (िनधा"रण वष" / Assessment Year: 2013-14) M/S Singla Builders & Promoters Ltd. Dcit / Acit Central-1 बनाम/ Plot No 1265, Sector 82, Industrial Area C.R. Building, Sector 17 Vs. Rupnagar (Punjab) 140308 Chandigarh-160017 "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaocs-6503-M (अपीलाथ"/Appellant) : (""थ" / Respondent) & 2. आयकर अपील सं. / Ita No.482/Chandi/2025 (िनधा"रण वष" / Assessment Year: 2017-18) & 3. आयकर अपील सं. / Ita No.484/Chandi/2025 (िनधा"रण वष" / Assessment Year: 2018-19) M/S Credo Assets Private Ltd. Dcit / Acit Central-1 बनाम/ Plot No 1265-C, Sector 82, Industrial Area C.R. Building, Sector 17 Vs. Rupnagar (Punjab) 140308 Chandigarh-160017 "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aafcc-6400-L (अपीलाथ"/Appellant) : (""थ" / Respondent) अपीलाथ"कीओरसे/ Appellant By : Sh. Parikshit Aggarwal (Ca) & Smt. Shruti Khandelwal (Ca) – Ld. Ars ""थ"कीओरसे/Respondent By : Smt. Kusum Bansal (Cit) & Shri Rajat Kumar Kureel (Cit) – Ld. Drs (Virtual) Date Of Final Hearing : 27-01-2026 Date Of Pronouncement : 03-02-2026

142A. (1) The Assessing Officer may, for the purposes of assessment or reassessment, make a reference to a Valuation Officer to estimate the value, including fair market value, of any asset, property or investment and submit a copy of report to him. (2) The Assessing Officer may make a reference to the Valuation Officer under sub- section

M/S CREDO ASSETS PVT. LTD.,RUPNAGAR PUNJAB vs. DCIT/ACIT(CEN)-1 CHD, CHANDIGARH

The appeals stand partly allowed

Bench: Hon’Ble Shri Rajpal Yadav & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकर अपील सं./ Ita No.487/Chandi/2025 (िनधा"रण वष" / Assessment Year: 2013-14) M/S Singla Builders & Promoters Ltd. Dcit / Acit Central-1 बनाम/ Plot No 1265, Sector 82, Industrial Area C.R. Building, Sector 17 Vs. Rupnagar (Punjab) 140308 Chandigarh-160017 "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaocs-6503-M (अपीलाथ"/Appellant) : (""थ" / Respondent) & 2. आयकर अपील सं. / Ita No.482/Chandi/2025 (िनधा"रण वष" / Assessment Year: 2017-18) & 3. आयकर अपील सं. / Ita No.484/Chandi/2025 (िनधा"रण वष" / Assessment Year: 2018-19) M/S Credo Assets Private Ltd. Dcit / Acit Central-1 बनाम/ Plot No 1265-C, Sector 82, Industrial Area C.R. Building, Sector 17 Vs. Rupnagar (Punjab) 140308 Chandigarh-160017 "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aafcc-6400-L (अपीलाथ"/Appellant) : (""थ" / Respondent) अपीलाथ"कीओरसे/ Appellant By : Sh. Parikshit Aggarwal (Ca) & Smt. Shruti Khandelwal (Ca) – Ld. Ars ""थ"कीओरसे/Respondent By : Smt. Kusum Bansal (Cit) & Shri Rajat Kumar Kureel (Cit) – Ld. Drs (Virtual) Date Of Final Hearing : 27-01-2026 Date Of Pronouncement : 03-02-2026

142A. (1) The Assessing Officer may, for the purposes of assessment or reassessment, make a reference to a Valuation Officer to estimate the value, including fair market value, of any asset, property or investment and submit a copy of report to him. (2) The Assessing Officer may make a reference to the Valuation Officer under sub- section

SH. SARANJIT SINGH,PATIALA vs. ACIT, CENTRAL CIRCLE -2, CHANDIGARH

In the result, the appeals of the assessees stand allowed

Bench: Shri Sanjay Garg & Shri Krinwant Sahayआयकर अपील सं./ Ita Nos. 381 & 382/Chd/2022 "नधा"रण वष" / Assessment Years: 2009-10 & 2011-12 Shamsher Singh, Vs. The Acit बनाम Central Circle-2, 11-A, Gen Chanda Singh Chandigarh Colony, Patiala 147001 "थायी लेखा सं./Pan No: Ahjps3586P अपीलाथ"/ Appellant ""यथ"/ Repsondent & आयकर अपील सं./ Ita Nos. 383 & 384/Chd/2023 "नधा"रण वष" / Assessment Years: 2009-10 & 2011-12 Vs. The Acit Saranjit Singh, बनाम Centralcircle-2, 11-A, Gen Chanda Chandigarh Singh Colony, Patiala 147001 "थायी लेखा सं./Pan No: Amwps9575J अपीलाथ"/ Appellant ""यथ"/ Repsondent ( Hybrid Hearing )

reassessed the income of the assessee u/s 153A for the relevant assessment years as under: a) Addition of Rs. 15,44,838/- for AY 2009-10 in respect of difference in valuation of SCO 118 Urban Estate Patiala and joint shop at Gopal Leela Bhawan Chowk Patiala. b) Addition to the tune of Rs.18,39,475/-for A.Y.2010-11 in respect

SH. SHAMSHER SINGH,PATIALA vs. ACIT, CENTRAL CIRCLE-2, CHANDIGARH

In the result, the appeals of the assessees stand allowed

Bench: Shri Sanjay Garg & Shri Krinwant Sahayआयकर अपील सं./ Ita Nos. 381 & 382/Chd/2022 "नधा"रण वष" / Assessment Years: 2009-10 & 2011-12 Shamsher Singh, Vs. The Acit बनाम Central Circle-2, 11-A, Gen Chanda Singh Chandigarh Colony, Patiala 147001 "थायी लेखा सं./Pan No: Ahjps3586P अपीलाथ"/ Appellant ""यथ"/ Repsondent & आयकर अपील सं./ Ita Nos. 383 & 384/Chd/2023 "नधा"रण वष" / Assessment Years: 2009-10 & 2011-12 Vs. The Acit Saranjit Singh, बनाम Centralcircle-2, 11-A, Gen Chanda Chandigarh Singh Colony, Patiala 147001 "थायी लेखा सं./Pan No: Amwps9575J अपीलाथ"/ Appellant ""यथ"/ Repsondent ( Hybrid Hearing )

reassessed the income of the assessee u/s 153A for the relevant assessment years as under: a) Addition of Rs. 15,44,838/- for AY 2009-10 in respect of difference in valuation of SCO 118 Urban Estate Patiala and joint shop at Gopal Leela Bhawan Chowk Patiala. b) Addition to the tune of Rs.18,39,475/-for A.Y.2010-11 in respect

SH. SHAMSHER SINGH,PATIALA vs. ACIT, CENTRAL CIRCLE-2, CHANDIGARH

In the result, the appeals of the assessees stand allowed

Bench: Shri Sanjay Garg & Shri Krinwant Sahayआयकर अपील सं./ Ita Nos. 381 & 382/Chd/2022 "नधा"रण वष" / Assessment Years: 2009-10 & 2011-12 Shamsher Singh, Vs. The Acit बनाम Central Circle-2, 11-A, Gen Chanda Singh Chandigarh Colony, Patiala 147001 "थायी लेखा सं./Pan No: Ahjps3586P अपीलाथ"/ Appellant ""यथ"/ Repsondent & आयकर अपील सं./ Ita Nos. 383 & 384/Chd/2023 "नधा"रण वष" / Assessment Years: 2009-10 & 2011-12 Vs. The Acit Saranjit Singh, बनाम Centralcircle-2, 11-A, Gen Chanda Chandigarh Singh Colony, Patiala 147001 "थायी लेखा सं./Pan No: Amwps9575J अपीलाथ"/ Appellant ""यथ"/ Repsondent ( Hybrid Hearing )

reassessed the income of the assessee u/s 153A for the relevant assessment years as under: a) Addition of Rs. 15,44,838/- for AY 2009-10 in respect of difference in valuation of SCO 118 Urban Estate Patiala and joint shop at Gopal Leela Bhawan Chowk Patiala. b) Addition to the tune of Rs.18,39,475/-for A.Y.2010-11 in respect

SH. SARANJIT SINGH,PATIALA vs. ACIT, CENTRAL CIRCLE -2, CHANDIGARH

In the result, the appeals of the assessees stand allowed

Bench: Shri Sanjay Garg & Shri Krinwant Sahayआयकर अपील सं./ Ita Nos. 381 & 382/Chd/2022 "नधा"रण वष" / Assessment Years: 2009-10 & 2011-12 Shamsher Singh, Vs. The Acit बनाम Central Circle-2, 11-A, Gen Chanda Singh Chandigarh Colony, Patiala 147001 "थायी लेखा सं./Pan No: Ahjps3586P अपीलाथ"/ Appellant ""यथ"/ Repsondent & आयकर अपील सं./ Ita Nos. 383 & 384/Chd/2023 "नधा"रण वष" / Assessment Years: 2009-10 & 2011-12 Vs. The Acit Saranjit Singh, बनाम Centralcircle-2, 11-A, Gen Chanda Chandigarh Singh Colony, Patiala 147001 "थायी लेखा सं./Pan No: Amwps9575J अपीलाथ"/ Appellant ""यथ"/ Repsondent ( Hybrid Hearing )

reassessed the income of the assessee u/s 153A for the relevant assessment years as under: a) Addition of Rs. 15,44,838/- for AY 2009-10 in respect of difference in valuation of SCO 118 Urban Estate Patiala and joint shop at Gopal Leela Bhawan Chowk Patiala. b) Addition to the tune of Rs.18,39,475/-for A.Y.2010-11 in respect

SH. KASHMIR SINGH SANDHA,SIRSA vs. PCIT, ROHTAK

In the result, all the above appeals filed by the respective assessee’s are dismissed

Bench: SHRI. LALIET KUMAR (Judicial Member), SHRI. KRINWANT SAHAY (Accountant Member)

142A, D.C. Colony, Barnala Road, Rohtak Najdelan Kalan, Sirsa-125055, Haryana "ायी लेखा सं./PAN NO: AAKPV9513H अपीलाथ"/Appellant ""थ"/Respondent आयकर अपील सं./ ITA No. 287/Chd/ 2023 िनधा"रण वष" / Assessment Year : 2018-19 Ganesh Dass HUF The Pr. CIT बनाम 64, Dwarka Puri, NearPost Office Rohtak, Sirsa 125055, Haryana "ायी लेखा सं./PAN NO: AAEHG7940P अपीलाथ"/Appellant

SH. PARAMJEET SINGH,SIRSA vs. PCIT, ROHTAK

In the result, all the above appeals filed by the respective assessee’s are dismissed

Bench: SHRI. LALIET KUMAR (Judicial Member), SHRI. KRINWANT SAHAY (Accountant Member)

142A, D.C. Colony, Barnala Road, Rohtak Najdelan Kalan, Sirsa-125055, Haryana "ायी लेखा सं./PAN NO: AAKPV9513H अपीलाथ"/Appellant ""थ"/Respondent आयकर अपील सं./ ITA No. 287/Chd/ 2023 िनधा"रण वष" / Assessment Year : 2018-19 Ganesh Dass HUF The Pr. CIT बनाम 64, Dwarka Puri, NearPost Office Rohtak, Sirsa 125055, Haryana "ायी लेखा सं./PAN NO: AAEHG7940P अपीलाथ"/Appellant

SURJEET SINGH,SIRSA vs. PCIT, ROHTAK, ROHTAK

In the result, all the above appeals filed by the respective assessee’s are dismissed

Bench: SHRI. LALIET KUMAR (Judicial Member), SHRI. KRINWANT SAHAY (Accountant Member)

142A, D.C. Colony, Barnala Road, Rohtak Najdelan Kalan, Sirsa-125055, Haryana "ायी लेखा सं./PAN NO: AAKPV9513H अपीलाथ"/Appellant ""थ"/Respondent आयकर अपील सं./ ITA No. 287/Chd/ 2023 िनधा"रण वष" / Assessment Year : 2018-19 Ganesh Dass HUF The Pr. CIT बनाम 64, Dwarka Puri, NearPost Office Rohtak, Sirsa 125055, Haryana "ायी लेखा सं./PAN NO: AAEHG7940P अपीलाथ"/Appellant

SH. ARVAIL SINGH,SIRSA vs. PCIT, ROHTAK

In the result, all the above appeals filed by the respective assessee’s are dismissed

Bench: SHRI. LALIET KUMAR (Judicial Member), SHRI. KRINWANT SAHAY (Accountant Member)

142A, D.C. Colony, Barnala Road, Rohtak Najdelan Kalan, Sirsa-125055, Haryana "ायी लेखा सं./PAN NO: AAKPV9513H अपीलाथ"/Appellant ""थ"/Respondent आयकर अपील सं./ ITA No. 287/Chd/ 2023 िनधा"रण वष" / Assessment Year : 2018-19 Ganesh Dass HUF The Pr. CIT बनाम 64, Dwarka Puri, NearPost Office Rohtak, Sirsa 125055, Haryana "ायी लेखा सं./PAN NO: AAEHG7940P अपीलाथ"/Appellant

M/S GANESH DASS HUF,SIRSA vs. PCIT, ROHTAK

In the result, all the above appeals filed by the respective assessee’s are dismissed

Bench: SHRI. LALIET KUMAR (Judicial Member), SHRI. KRINWANT SAHAY (Accountant Member)

142A, D.C. Colony, Barnala Road, Rohtak Najdelan Kalan, Sirsa-125055, Haryana "ायी लेखा सं./PAN NO: AAKPV9513H अपीलाथ"/Appellant ""थ"/Respondent आयकर अपील सं./ ITA No. 287/Chd/ 2023 िनधा"रण वष" / Assessment Year : 2018-19 Ganesh Dass HUF The Pr. CIT बनाम 64, Dwarka Puri, NearPost Office Rohtak, Sirsa 125055, Haryana "ायी लेखा सं./PAN NO: AAEHG7940P अपीलाथ"/Appellant

SH. RANDHIR SINGH,SIRSA vs. PCIT ROHTAK, ROHTAK

In the result, all the above appeals filed by the respective assessee’s are dismissed

Bench: SHRI. LALIET KUMAR (Judicial Member), SHRI. KRINWANT SAHAY (Accountant Member)

142A, D.C. Colony, Barnala Road, Rohtak Najdelan Kalan, Sirsa-125055, Haryana "ायी लेखा सं./PAN NO: AAKPV9513H अपीलाथ"/Appellant ""थ"/Respondent आयकर अपील सं./ ITA No. 287/Chd/ 2023 िनधा"रण वष" / Assessment Year : 2018-19 Ganesh Dass HUF The Pr. CIT बनाम 64, Dwarka Puri, NearPost Office Rohtak, Sirsa 125055, Haryana "ायी लेखा सं./PAN NO: AAEHG7940P अपीलाथ"/Appellant

DHUNI CHAND HUF,SIRSA vs. PCIT, ROHTAK

In the result, all the above appeals filed by the respective assessee’s are dismissed

Bench: SHRI. LALIET KUMAR (Judicial Member), SHRI. KRINWANT SAHAY (Accountant Member)

142A, D.C. Colony, Barnala Road, Rohtak Najdelan Kalan, Sirsa-125055, Haryana "ायी लेखा सं./PAN NO: AAKPV9513H अपीलाथ"/Appellant ""थ"/Respondent आयकर अपील सं./ ITA No. 287/Chd/ 2023 िनधा"रण वष" / Assessment Year : 2018-19 Ganesh Dass HUF The Pr. CIT बनाम 64, Dwarka Puri, NearPost Office Rohtak, Sirsa 125055, Haryana "ायी लेखा सं./PAN NO: AAEHG7940P अपीलाथ"/Appellant

AFI FEED INDUSTRIES,KHANNA vs. DEPUTY COMMISSIONER OF INCOME TAX, CC-1, LUDHIANA, LUDHIANA

In the result, the appeal of the assessee is to be allowed

Bench: SHRI. RAJPAL YADAV (Vice President), SHRI. KRINWANT SAHAY (Accountant Member)

Reassessment Whether while report of DVO may form foundation for reopening assessment, there must still be some reasons which warrant holding belief that income chargeable to tax has escaped assessment so as to necessitate issuance of a notice under section 148 - Held, yes - Assessing Officer referred matter to DVO for determining cost of construction of project of assessee and based

AFI FEED INDUSTRIES,KHANNA vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, LUDHIANA

In the result, the appeal of the assessee is to be allowed

Bench: SHRI. RAJPAL YADAV (Vice President), SHRI. KRINWANT SAHAY, AM आयकर अपील सं. / ITA No. 127, 90 & 91 /Chd/ 2025 निर्धारण वर्ष / Assessment Year : 2016-17, 2017-18 & 2018-19 AFI Feed Industries Shop No. 13, Khanna City Centre, G.T. Road, Ground Floor, Bolck-C, Khanna, Punjab-141401 स्थायी लेखा सं./PAN NO: ABDFA5916B अपीलार्थी/Appellant निर्धारिती की ओर से/Assessee by : राजस्व की ओर से / Revenue by : बनाम The DCIT Central Circle-l Ludhiana प्रत्यर्थी / Respondent Shri Ashwani Kumar, Ms. Deepali

Reassessment Whether while report of DVO may form foundation for reopening assessment, there must still be some reasons which warrant holding belief that income chargeable to tax has escaped assessment so as to necessitate issuance of a notice under section 148 - Held, yes - Assessing Officer referred matter to DVO for determining cost of construction of project of assessee and based

AFI FEED INDUSTRIES,KHANNA vs. DEPUTY COMMISSIONER OF INCOME TAX, CC-1, LUDHIANA, LUDHIANA

In the result, the appeal of the assessee is to be allowed

Bench: SHRI. RAJPAL YADAV (Vice President), SHRI. KRINWANT SAHAY (Accountant Member)

Reassessment Whether while report of DVO may form foundation for reopening assessment, there must still be some reasons which warrant holding belief that income chargeable to tax has escaped assessment so as to necessitate issuance of a notice under section 148 - Held, yes - Assessing Officer referred matter to DVO for determining cost of construction of project of assessee and based

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-I, CHANDIGARH , CHANDIGARH vs. MS SCOTT EDIL ADVANCE RESEARCH LABORATOTRIES AND EDUCATION LTD., , CHANDIGARH

reassess the income of the\nother person in accordance with the provisions of section 153A, if, that Assessing Officer\nis satisfied that the books of account or documents or assets seized or requisitioned have\na bearing on the determination of the total income of such other person for six assessment\nyears immediately preceding the assessment year relevant to the previous

SHRI BALRAM KRISHAN,CHANDIGARH vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, CHANDIGARH, CHANDIGARH

reassess the income of the\nother person in accordance with the provisions of section 153A, if, that Assessing Officer\nis satisfied that the books of account or documents or assets seized or requisitioned have\na bearing on the determination of the total income of such other person for six assessment\nyears immediately preceding the assessment year relevant to the previous

SCOTT EDIL ADVANCE RESEARCH LABORATORIES AND EDUCATION LIMITED,CHANDIGARH vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, CHANDIGARH

reassess the income of the\nother person in accordance with the provisions of section 153A, if, that Assessing Officer\nis satisfied that the books of account or documents or assets seized or requisitioned have\na bearing on the determination of the total income of such other person for six assessment\nyears immediately preceding the assessment year relevant to the previous