AARTI SINGAL,NEW DELHI vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, CHANDIGARH, CHANDIGARH

In the result, assessee’s appeals are allowed

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

220 /Chd/ 2025 िनधा"रण वष" / Assessment Years : 2016-17 Sanjay Singal बनाम The DCIT 53, Jor Bagh, New Delhi Central Circle-1 Chandigarh "ायी लेखा सं./PAN NO: ANRPS7985C अपीलाथ"/Appellant ""थ"/Respondent आयकर अपील सं./ ITA Nos. 221 /Chd/ 2025 िनधा"रण वष" / Assessment Years : 2016-17 Sanjay Singal (HUF) बनाम The DCIT 53, Jor Bagh, New Delhi

SANJAY SINGAL (HUF),NEW DELHI vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, CHANDIGARH , CHANDIGARH

In the result, assessee’s appeals are allowed

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

220 /Chd/ 2025 िनधा"रण वष" / Assessment Years : 2016-17 Sanjay Singal बनाम The DCIT 53, Jor Bagh, New Delhi Central Circle-1 Chandigarh "ायी लेखा सं./PAN NO: ANRPS7985C अपीलाथ"/Appellant ""थ"/Respondent आयकर अपील सं./ ITA Nos. 221 /Chd/ 2025 िनधा"रण वष" / Assessment Years : 2016-17 Sanjay Singal (HUF) बनाम The DCIT 53, Jor Bagh, New Delhi

ANIKET SINGAL,NEW DELHI vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, CHANDIGARH, CHANDIGARH

In the result, assessee’s appeals are allowed

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

220 /Chd/ 2025 िनधा"रण वष" / Assessment Years : 2016-17 Sanjay Singal बनाम The DCIT 53, Jor Bagh, New Delhi Central Circle-1 Chandigarh "ायी लेखा सं./PAN NO: ANRPS7985C अपीलाथ"/Appellant ""थ"/Respondent आयकर अपील सं./ ITA Nos. 221 /Chd/ 2025 िनधा"रण वष" / Assessment Years : 2016-17 Sanjay Singal (HUF) बनाम The DCIT 53, Jor Bagh, New Delhi

AARTI SINGAL,NEW DELHI vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, CHANDIGARH, CHANDIGARH

In the result, assessee’s appeals are allowed

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

220 /Chd/ 2025 िनधा"रण वष" / Assessment Years : 2016-17 Sanjay Singal बनाम The DCIT 53, Jor Bagh, New Delhi Central Circle-1 Chandigarh "ायी लेखा सं./PAN NO: ANRPS7985C अपीलाथ"/Appellant ""थ"/Respondent आयकर अपील सं./ ITA Nos. 221 /Chd/ 2025 िनधा"रण वष" / Assessment Years : 2016-17 Sanjay Singal (HUF) बनाम The DCIT 53, Jor Bagh, New Delhi

SANJAY SINGAL,NEW DELHI vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, CHANDIGARH, CHANDIGARH

In the result, assessee’s appeals are allowed

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

220 /Chd/ 2025 िनधा"रण वष" / Assessment Years : 2016-17 Sanjay Singal बनाम The DCIT 53, Jor Bagh, New Delhi Central Circle-1 Chandigarh "ायी लेखा सं./PAN NO: ANRPS7985C अपीलाथ"/Appellant ""थ"/Respondent आयकर अपील सं./ ITA Nos. 221 /Chd/ 2025 िनधा"रण वष" / Assessment Years : 2016-17 Sanjay Singal (HUF) बनाम The DCIT 53, Jor Bagh, New Delhi

SH. ANIKET SINGAL,CHANDIGARH vs. DCIT, CC-1, CHANDIGARH

Bench: S/Shri N.K. Saini, Vice- & Rajpal Yadav, Vice-

220 Smt. Aarti Singal Particulars A.Y. 2011-12 A.Y. 2013-14 A.Y. 2014-15 Total 835,373,595 1,604,185,445 Total Sale proceeds u/s 68 130,872,875 637,938,975 (on a/c of alleged bogus LTCG} 6.5% of LTCG u/s 69C towards alleged commission expenses

SMT. AARTI SINGAL,CHANDIGARH vs. DCIT, CC-1, CHANDIGARH

Bench: S/Shri N.K. Saini, Vice- & Rajpal Yadav, Vice-

220 Smt. Aarti Singal Particulars A.Y. 2011-12 A.Y. 2013-14 A.Y. 2014-15 Total 835,373,595 1,604,185,445 Total Sale proceeds u/s 68 130,872,875 637,938,975 (on a/c of alleged bogus LTCG} 6.5% of LTCG u/s 69C towards alleged commission expenses

SH. SANJAY SINGAL,CHANDIGARH vs. DCIT, CC-1, CHANDIGARH

Bench: S/Shri N.K. Saini, Vice- & Rajpal Yadav, Vice-

220 Smt. Aarti Singal Particulars A.Y. 2011-12 A.Y. 2013-14 A.Y. 2014-15 Total 835,373,595 1,604,185,445 Total Sale proceeds u/s 68 130,872,875 637,938,975 (on a/c of alleged bogus LTCG} 6.5% of LTCG u/s 69C towards alleged commission expenses

SMT. AARTI SINGAL,CHANDIGARH vs. DCIT, CC-1, CHANDIGARH

Bench: S/Shri N.K. Saini, Vice- & Rajpal Yadav, Vice-

220 Smt. Aarti Singal Particulars A.Y. 2011-12 A.Y. 2013-14 A.Y. 2014-15 Total 835,373,595 1,604,185,445 Total Sale proceeds u/s 68 130,872,875 637,938,975 (on a/c of alleged bogus LTCG} 6.5% of LTCG u/s 69C towards alleged commission expenses

SH. ANIKET SINGAL,CHANDIGARH vs. DCIT, CC-1, CHANDIGARH

Bench: S/Shri N.K. Saini, Vice- & Rajpal Yadav, Vice-

220 Smt. Aarti Singal Particulars A.Y. 2011-12 A.Y. 2013-14 A.Y. 2014-15 Total 835,373,595 1,604,185,445 Total Sale proceeds u/s 68 130,872,875 637,938,975 (on a/c of alleged bogus LTCG} 6.5% of LTCG u/s 69C towards alleged commission expenses

SH. SANJAY SINGAL,CHANDIGARH vs. DCIT, CC-1, CHANDIGARH

Bench: S/Shri N.K. Saini, Vice- & Rajpal Yadav, Vice-

220 Smt. Aarti Singal Particulars A.Y. 2011-12 A.Y. 2013-14 A.Y. 2014-15 Total 835,373,595 1,604,185,445 Total Sale proceeds u/s 68 130,872,875 637,938,975 (on a/c of alleged bogus LTCG} 6.5% of LTCG u/s 69C towards alleged commission expenses

SH. SANJAY SINGAL,CHANDIGARH vs. DCIT, CC-1, CHANDIGARH

Bench: S/Shri N.K. Saini, Vice- & Rajpal Yadav, Vice-

220 Smt. Aarti Singal Particulars A.Y. 2011-12 A.Y. 2013-14 A.Y. 2014-15 Total 835,373,595 1,604,185,445 Total Sale proceeds u/s 68 130,872,875 637,938,975 (on a/c of alleged bogus LTCG} 6.5% of LTCG u/s 69C towards alleged commission expenses

SMT. AARTI SINGAL,CHANDIGARH vs. DCIT, CC-1, CHANDIGARH

Bench: S/Shri N.K. Saini, Vice- & Rajpal Yadav, Vice-

220 Smt. Aarti Singal Particulars A.Y. 2011-12 A.Y. 2013-14 A.Y. 2014-15 Total 835,373,595 1,604,185,445 Total Sale proceeds u/s 68 130,872,875 637,938,975 (on a/c of alleged bogus LTCG} 6.5% of LTCG u/s 69C towards alleged commission expenses

SH. SANJAY SINGAL HUF,CHANDIGARH vs. DCIT, CC-1, CHANDIGARH

Bench: S/Shri N.K. Saini, Vice- & Rajpal Yadav, Vice-

220 Smt. Aarti Singal Particulars A.Y. 2011-12 A.Y. 2013-14 A.Y. 2014-15 Total 835,373,595 1,604,185,445 Total Sale proceeds u/s 68 130,872,875 637,938,975 (on a/c of alleged bogus LTCG} 6.5% of LTCG u/s 69C towards alleged commission expenses

SH. BALJIT SINGH,LUDHIANA vs. PR. CIT, LUDHIANA -1, LUDHIANA

In the result, appeal of the Assessee is dismissed

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

68 with regard to unsecured loans and payment of interest thereon as a consequence thereof expenditure of Rs. 1,32,97,887/- has remained unexplained. The other issue dealt by him in para 4 & 5(supra) of the impugned order stands dealt with in fresh assessment order dt. 27/03/2023-i.e; the consequential order passed in pursuance to order under section

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

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

68 of the Act. This position stands settled vide inter-alia, the following decisions : i) ITA No. 325/2008 (Del) CIT vs. Ritu Anurag Agarwal "As there was no case for disallowance for corresponding purchases, no addition could be made under Section 68 in as much as it is not in dispute that the creditors outstanding related to purchases

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

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

68 of the Act. This position stands settled vide inter-alia, the following decisions : i) ITA No. 325/2008 (Del) CIT vs. Ritu Anurag Agarwal "As there was no case for disallowance for corresponding purchases, no addition could be made under Section 68 in as much as it is not in dispute that the creditors outstanding related to purchases

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

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

68 of the Act. This position stands settled vide inter-alia, the following decisions : i) ITA No. 325/2008 (Del) CIT vs. Ritu Anurag Agarwal "As there was no case for disallowance for corresponding purchases, no addition could be made under Section 68 in as much as it is not in dispute that the creditors outstanding related to purchases

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, LUDHIANA vs. MALBROS INTERNATIONAL PVT LTD, FARIDKOT

In the result, both the appeals and the Cross Objections are dismissed

Bench: Shri Rajpal Yadav & Shri Krinwant Sahayआयकर अपील सं./ Ita Nos. 992 & 993/Chd/2024 "नधा"रण वष" / Assessment Years: 2017-18, 2016-17 The Dcit, Vs Malbros International Pvt. Ltd., Central Circle-2, Village – Mansoorwal, Teh-Zira, Ludhiana. Head Offices Old Cantt. Road, Faridkot. "थायी लेखा सं./Pan No: Aadcm7203R अपीलाथ"/Appellant ""यथ"/Respondent & C.O. Nos. 46 & 45/Chd/2024 In आयकर अपील सं./ Ita Nos. 992 & 993/Chd/2024 "नधा"रण वष" / Assessment Year: 2017-18, 2016-17 Malbros International Pvt. Ltd., The Dcit, Village – Mansoorwal, Teh-Zira, Vs Central Circle-2, Head Offices Old Cantt. Road, Ludhiana. Faridkot. "थायी लेखा सं./Pan No: Aadcm7203R अपीलाथ"/Appellant ""यथ"/Respondent Assessee By : Shri Sudhir Sehgal, Advocate Revenue By : Smt. Kusum Bansal, Cit Dr Date Of Hearing : 14.05.2025 Date Of Pronouncement : 25.06.2025

68 solely on basis of information received from Investigation Wing that lenders from whom assessee-company acquired loans were indulged in bogus accommodation entries, since assessee was not granted an opportunity to cross-examine persons whose statements were recorded during investigation, impugned addition made on basis of such investigation which was not privy to assessee were to be deleted