M/S SINGLA BUILDERS AND PROMOTERS LIMITED,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 (6) of the Act, it apparently clear that the valuation report has to be furnished by the Id. DVO within six months from the end of the month in which reference is made by the Id. AO. This issue is now well settled by the Hon'ble Apex Court decision in case of Sargam Cinema

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 (6) of the Act, it apparently clear that the valuation report has to be furnished by the Id. DVO within six months from the end of the month in which reference is made by the Id. AO. This issue is now well settled by the Hon'ble Apex Court decision in case of Sargam Cinema

JOINT COMMISSIONER OF INCOME TAX (OSD), LUDHIANA vs. M/S SHEETAL INDUSTRIES , KHANNA

The appeal of the Revenue is dismissed

Bench: Shri Rajpal Yadav & Shri Krinwant Sahay

68 or 69 would not hold good. In our view, in such a situation, the AO could not have legally and validly resorted to taxing the income of the Assessee at the rate of 60% in terms of provisions of section 115BBE of the Act. 10.18 The Hon'ble Andhra Pradesh High Court in the case of Principal Commissioner

ANILJIT SINGH ARORA,PATIALA vs. ACIT DCIT CEN CIR , PATIALA, PATIALA

In the result, the appeal of the assessee is allowed

Bench: SHRI. SANJAY GARG (Judicial Member), SHRI. VIKRAM SINGH YADAV (Accountant Member)

142A during the course of assessment proceedings for determining the value of investment in the construction of the said building. The Valuation officer thereafter carried out the inspection of the hospital building and calculated the value of the investment at Rs. 1,61,66,000/-. The AO compared the said value with the value as per the balance sheet

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 )

68,921/- 13.32% 35,820/- 11. The ld. Counsel has submitted that the difference of amount of investment in the said property at Gopal Leela Bhawan Chowk, Patiala even as per the DVO’s report is a meagre figure Rs.40,150/- which is less than 10% and is liable to be ignored. The ld. Counsel has further submitted that

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 )

68,921/- 13.32% 35,820/- 11. The ld. Counsel has submitted that the difference of amount of investment in the said property at Gopal Leela Bhawan Chowk, Patiala even as per the DVO’s report is a meagre figure Rs.40,150/- which is less than 10% and is liable to be ignored. The ld. Counsel has further submitted that

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 )

68,921/- 13.32% 35,820/- 11. The ld. Counsel has submitted that the difference of amount of investment in the said property at Gopal Leela Bhawan Chowk, Patiala even as per the DVO’s report is a meagre figure Rs.40,150/- which is less than 10% and is liable to be ignored. The ld. Counsel has further submitted that

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 )

68,921/- 13.32% 35,820/- 11. The ld. Counsel has submitted that the difference of amount of investment in the said property at Gopal Leela Bhawan Chowk, Patiala even as per the DVO’s report is a meagre figure Rs.40,150/- which is less than 10% and is liable to be ignored. The ld. Counsel has further submitted that

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. 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

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. 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

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

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

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

ASSISTANT COMMISSIONER OF INCOME TAX, CHANDIGARH vs. SARAF THE JEWELLERS, PUNJAB

Appeal stand dismissed

Bench: Hon’Ble Shri Rajpal Yadav & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकरअपीलसं. / Ita No.1231/Chandi/2025 (िनधा"रणवष" / Assessment Year: 2020-21) Saraf The Jeweller Dcit / Acit (Central)-2 बनाम/ Sco 45, Pocket No.1 C.R. Building Nac Showroom, Manimajra Himalaya Marg, Vs. Chandigarh – 160101 Sector-17E, Chandigarh "थायीलेखासं./जीआइआरसं./Pan/Gir No. Adafs-2345-B (अपीलाथ"/Appellant) : (""थ" / Respondent) & 2. आयकरअपीलसं. / Ita No.1593/Chandi/2025 (िनधा"रणवष" / Assessment Year: 2020-21) Dcit / Acit (Central)-2 Saraf The Jeweller बनाम/ C.R. Building Sco 45, Pocket No.1 Himalaya Marg, Nac Showroom, Manimajra Vs. Sector-17E, Chandigarh Chandigarh – 160101 "थायीलेखासं./जीआइआरसं./Pan/Gir No. Adafs-2345-B (अपीलाथ"/Appellant) : (""थ" / Respondent) अपीलाथ"कीओरसे/Appellant Sh. Sudhir Sehgal (Advocate) & Sh. Sahil Ratra (Advocate) – Ld. Ars By : ""थ"कीओरसे/Respondent By : Sh. Abhishek Pal Garg (Cit) & Dr. Ranjit Kaur (Addl. Cit) – Ld. Drs सुनवाईकीतारीख/Date Of Hearing : 12.02.2026 घोषणाकीतारीख /Date Of Pronouncement 11.03.2026 : आदेश / O R D E R Per Bench

Section 115BBE of the difference of the alleged cost of construction is not sustainable. 5. That CIT(A) has erred in making the addition of Rs.2,07,40,000/- on account of unsecured loan u/s 68 and applying the provisions of Sec.115BBE of the Income Tax Act and this addition was not called for as no incriminating evidence

SARAF THE JEWELLER, CHANDIGARH,CHANDIGARH vs. THE DCIT/ACIT CENTRAL CIRCLE -2, CHANDIGARH, CHANDIGARH

Appeal stand dismissed

Bench: Hon’Ble Shri Rajpal Yadav & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकरअपीलसं. / Ita No.1231/Chandi/2025 (िनधा"रणवष" / Assessment Year: 2020-21) Saraf The Jeweller Dcit / Acit (Central)-2 बनाम/ Sco 45, Pocket No.1 C.R. Building Nac Showroom, Manimajra Himalaya Marg, Vs. Chandigarh – 160101 Sector-17E, Chandigarh "थायीलेखासं./जीआइआरसं./Pan/Gir No. Adafs-2345-B (अपीलाथ"/Appellant) : (""थ" / Respondent) & 2. आयकरअपीलसं. / Ita No.1593/Chandi/2025 (िनधा"रणवष" / Assessment Year: 2020-21) Dcit / Acit (Central)-2 Saraf The Jeweller बनाम/ C.R. Building Sco 45, Pocket No.1 Himalaya Marg, Nac Showroom, Manimajra Vs. Sector-17E, Chandigarh Chandigarh – 160101 "थायीलेखासं./जीआइआरसं./Pan/Gir No. Adafs-2345-B (अपीलाथ"/Appellant) : (""थ" / Respondent) अपीलाथ"कीओरसे/Appellant Sh. Sudhir Sehgal (Advocate) & Sh. Sahil Ratra (Advocate) – Ld. Ars By : ""थ"कीओरसे/Respondent By : Sh. Abhishek Pal Garg (Cit) & Dr. Ranjit Kaur (Addl. Cit) – Ld. Drs सुनवाईकीतारीख/Date Of Hearing : 12.02.2026 घोषणाकीतारीख /Date Of Pronouncement 11.03.2026 : आदेश / O R D E R Per Bench

Section 115BBE of the difference of the alleged cost of construction is not sustainable. 5. That CIT(A) has erred in making the addition of Rs.2,07,40,000/- on account of unsecured loan u/s 68 and applying the provisions of Sec.115BBE of the Income Tax Act and this addition was not called for as no incriminating evidence

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

68 on account of amount received from Jai Ambe\nPharmaceutical (JAAPL) holding the company as a shell company.\n7. Ground No. 7 – Purchase transactions carried out allegedly outside books.\n\n\n17\n8. Ground No. 8 and 9 -Carry forward of MAT credit against the demand raised\nconsequent to impugned addition made in assessment.\n9. Ground No. 10 – Transfer order

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

142A - HELD THAT:- Admittedly, no incriminating\nmaterial has been found during the course of search qua this addition towards cost of\nconstruction. This fact is evident from the perusal of the orders of the lower authorities.\n[Refer para 13]\nSole basis of the addition is only the valuation report furnished by the DVO which has\nbeen obtained