ANUBHAV AGGARWAL,LUDHIANA vs. ACIT, CC-1, LUDHIANA

In the result, all the four appeals are dismissed

Bench: Shri Rajpal Yadav & Shri Krinwant Sahayआयकर अपील सं./ Ita Nos. 1285/Chd/2019 "नधा"रण वष" / Assessment Year : 2011-12 Anubhav Aggarwal, The Acit, #526-B, Aggar Nagar, बनाम Central Circle-1, Ludhiana Ludhiana Vs. 141001 "थायी लेखा सं./Pan No: Aaypa9742K अपीलाथ"/Appellant ""यथ"/Respondent

Section 68 of Income Tax Act, 1961 as assessee has provided Bank Statements and Foreign Inward Remittance Certificates for all the gifts received. 3. The contention of Ld. AO and Ld. CIT (Appeals) is wrong that the assessee has routed unaccounted funds generated by the flagship company M/s ARK Imports Private Limited and routed these funds from different bank

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 ITD 65 CHD, and viii) Rupesh Chiman Lal V ITO, order dated 30.01.2017 in ITA Nos. 6179-6182/Mum/2016 13.5 Then, it is well settled that the assessee cannot be expected to be after the person with whom he has entered in the business transactions and the assessee's onus is to establish the identity of the party

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 ITD 65 CHD, and viii) Rupesh Chiman Lal V ITO, order dated 30.01.2017 in ITA Nos. 6179-6182/Mum/2016 13.5 Then, it is well settled that the assessee cannot be expected to be after the person with whom he has entered in the business transactions and the assessee's onus is to establish the identity of the party

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 ITD 65 CHD, and viii) Rupesh Chiman Lal V ITO, order dated 30.01.2017 in ITA Nos. 6179-6182/Mum/2016 13.5 Then, it is well settled that the assessee cannot be expected to be after the person with whom he has entered in the business transactions and the assessee's onus is to establish the identity of the party

M/S SHAM FASHION MALL,CHANDIGARH vs. THE DY.C.I.T., CENTRAL CIRCLE -1, CHANDIGARH

In the result, ITA No. 315/Chd/2022 also stands

Bench: Shri N.K. Saini & Shri Sudhanshu Srivastava

430/- under the head ‘income from business or profession’. The case was selected for compulsory scrutiny being the assessment year relevant to the previous year in which search was conducted. 3.1 As per the assessment order, during the course of search, physical inventory of the stock lying at the premises of the assessee firm was prepared by the Registered Valuer

M/S SHAM JEWELLERS,CHANDIGARH vs. THE DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE -1, CHANDIGARH

In the result, ITA No. 315/Chd/2022 also stands

Bench: Shri N.K. Saini & Shri Sudhanshu Srivastava

430/- under the head ‘income from business or profession’. The case was selected for compulsory scrutiny being the assessment year relevant to the previous year in which search was conducted. 3.1 As per the assessment order, during the course of search, physical inventory of the stock lying at the premises of the assessee firm was prepared by the Registered Valuer

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, LUDHIANA , LUDHIANA vs. LALIT KUMAR PROP. LALIT CO., MIS BABU RAM HEM RAJ, FARIDKOT

In the result, the appeal of the revenue stand dismissed

Bench: Hon’Ble Shri Rajpal Yadav & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकरअपील सं./ Ita No.685/Chandi/2024 (िनधा"रणवष" / Assessment Year: 2017-18) & 2. आयकरअपील सं./ Ita No.686/Chandi/2024 (िनधा"रणवष" / Assessment Year: 2018-19) Dcit Central Circle-1 Shri Lalit Kumar बनाम/ Sco 1-6, 2Nd Floor, Opp. Bvm School (Prop. Lalit & Co.& M/S Babu Ram Hem Raj) Vs. New Grain Market, Faridkot - 151203 Kitchlu Nagar, Ludhiana-141001. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Adapk-3617-L (अपीलाथ"/Appellant) : (""थ" / Respondent) & 3. Co No.28/Chandi/2024 (In Ita No. 685/Chandi/2024 (िनधा"रणवष" / Assessment Year: 2017-18) & 4. Co No.29/Chandi/2024 (In Ita No. 686/Chandi/2024 (िनधा"रणवष" / Assessment Year: 2018-19) Shri Lalit Kumar Dcit Central Circle-1 बनाम/ Sco 1-6, 2Nd Floor, Opp. Bvm School (Prop. Lalit & Co. & M/S Babu Ram Hem Raj) Vs. New Grain Market, Faridkot - 151203 Kitchlu Nagar, Ludhiana-141001. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Adapk-3617-L (अपीलाथ"/Appellant) : (""थ" / Respondent) Assessee By : Shri Sudhir Sehgal (Advocate) – Ld. Ar Revenue By : Shri Rohit Sharma (Cit) & Shri Vivek Vardhan (Addl. Cit) - Ld. Drs

section 68 of the Act.? 3. Whether upon the facts and circumstances of the case and in law, the Ld. CIT(A) was justified in applying GP rate of 6% and hereby allowing benefit of unverifiable purchases and in contradiction to the decision Hon'ble High Court of Madras in the case of SVS Oil Mills vs ACIT

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, LUDHIANA , LUDHIANA vs. LALIT KUMAR PROP. MIS BABU RAM HEM RAJ, FARIDKOT

In the result, the appeal of the revenue stand dismissed

Bench: Hon’Ble Shri Rajpal Yadav & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकरअपील सं./ Ita No.685/Chandi/2024 (िनधा"रणवष" / Assessment Year: 2017-18) & 2. आयकरअपील सं./ Ita No.686/Chandi/2024 (िनधा"रणवष" / Assessment Year: 2018-19) Dcit Central Circle-1 Shri Lalit Kumar बनाम/ Sco 1-6, 2Nd Floor, Opp. Bvm School (Prop. Lalit & Co.& M/S Babu Ram Hem Raj) Vs. New Grain Market, Faridkot - 151203 Kitchlu Nagar, Ludhiana-141001. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Adapk-3617-L (अपीलाथ"/Appellant) : (""थ" / Respondent) & 3. Co No.28/Chandi/2024 (In Ita No. 685/Chandi/2024 (िनधा"रणवष" / Assessment Year: 2017-18) & 4. Co No.29/Chandi/2024 (In Ita No. 686/Chandi/2024 (िनधा"रणवष" / Assessment Year: 2018-19) Shri Lalit Kumar Dcit Central Circle-1 बनाम/ Sco 1-6, 2Nd Floor, Opp. Bvm School (Prop. Lalit & Co. & M/S Babu Ram Hem Raj) Vs. New Grain Market, Faridkot - 151203 Kitchlu Nagar, Ludhiana-141001. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Adapk-3617-L (अपीलाथ"/Appellant) : (""थ" / Respondent) Assessee By : Shri Sudhir Sehgal (Advocate) – Ld. Ar Revenue By : Shri Rohit Sharma (Cit) & Shri Vivek Vardhan (Addl. Cit) - Ld. Drs

section 68 of the Act.? 3. Whether upon the facts and circumstances of the case and in law, the Ld. CIT(A) was justified in applying GP rate of 6% and hereby allowing benefit of unverifiable purchases and in contradiction to the decision Hon'ble High Court of Madras in the case of SVS Oil Mills vs ACIT

ACIT, CENTRAL CIRCLE -1,, LUDHIANA vs. M/S OSWAL APPARELS PVT. LTD., LUDHIANA

The appeals of the assessee stand allowed

Bench: Shri Sanjay Garg & Shri Krinwant Sahay

430,431/CHD/2021 "नधा"रण वष" / A.Y.: 2009-10, 2010-11 M/s Oswal Apparels P.Ltd., Vs The DCIT, Office No.23, # B 20-350, Central Cuircle-1, New Shopping Center, Ludhiana. Ghuman Mandi, Ludhiana. "थायीलेखासं./PAN NO: AAACO9177H अपीलाथ"/Appellant ""यथ"/Respondent आयकर अपील सं./ITA No. 25/CHD/2022 "नधा"रण वष" / A.Y.: 2010-11 The ACIT, Vs M/s Oswal Apparels P.Ltd., Central

M/S OSWAL APPARELS PVT. LTD.,LUDHIANA vs. DCIT, C.C.- 1, LUDHIANA

The appeals of the assessee stand allowed and the appeal of the Revenue stand dismissed

Bench: Shri Sanjay Garg & Shri Krinwant Sahayआयकर अपील सं./Ita No. 425,426/Chd/2021 "नधा"रण वष" / A.Y.: 2009-10,2010-11 M/S Oswal Fab Knits Ltd., Vs The Dcit, Office No.23, # B 20-350, Central Cuircle-1, New Shopping Center, Ludhiana. Ghuman Mandi, Ludhiana. "थायीलेखासं./Pan No: Aaac09876B अपीलाथ"/Appellant ""यथ"/Respondent आयकर अपील सं./Ita No. 427,428/Chd/2021 "नधा"रण वष" / A.Y.: 2009-10, 2010-11 M/S Oswal Trends P.Ltd., Vs The Dcit, Office No.23, # B 20-350, Central Cuircle-1, New Shopping Center, Ludhiana. Ghuman Mandi, Ludhiana. "थायीलेखासं./Pan No: Aabco0431D अपीलाथ"/Appellant ""यथ"/Respondent आयकर अपील सं./Ita No. 430,431/Chd/2021 "नधा"रण वष" / A.Y.: 2009-10, 2010-11 M/S Oswal Apparels P.Ltd., Vs The Dcit, Office No.23, # B 20-350, Central Cuircle-1, New Shopping Center, Ludhiana. Ghuman Mandi, Ludhiana. "थायीलेखासं./Pan No: Aaaco9177H अपीलाथ"/Appellant ""यथ"/Respondent आयकर अपील सं./Ita No. 25/Chd/2022 "नधा"रण वष" / A.Y.: 2010-11 The Acit, Vs M/S Oswal Apparels P.Ltd., Central Cuircle-1, Office No.23, # B 20-350, Ludhiana. New Shopping Center, Ghuman Mandi, Ludhiana. "थायी लेखा सं./Pan No: Aaaco9177H अपीलाथ"/Appellant ""यथ"/Respondent

430,431/CHD/2021 "नधा"रण वष" / A.Y.: 2009-10, 2010-11 M/s Oswal Apparels P.Ltd., Vs The DCIT, Office No.23, # B 20-350, Central Cuircle-1, New Shopping Center, Ludhiana. Ghuman Mandi, Ludhiana. "थायीलेखासं./PAN NO: AAACO9177H अपीलाथ"/Appellant ""यथ"/Respondent आयकर अपील सं./ITA No. 25/CHD/2022 "नधा"रण वष" / A.Y.: 2010-11 The ACIT, Vs M/s Oswal Apparels P.Ltd., Central

M/S OSWAL TREND (P) LTD.,LUDHIANA vs. DCIT, C. C.-1, LUDHIANA

The appeals of the assessee stand allowed

Bench: Shri Sanjay Garg & Shri Krinwant Sahay

430,431/CHD/2021 "नधा"रण वष" / A.Y.: 2009-10, 2010-11 M/s Oswal Apparels P.Ltd., Vs The DCIT, Office No.23, # B 20-350, Central Cuircle-1, New Shopping Center, Ludhiana. Ghuman Mandi, Ludhiana. "थायीलेखासं./PAN NO: AAACO9177H अपीलाथ"/Appellant ""यथ"/Respondent आयकर अपील सं./ITA No. 25/CHD/2022 "नधा"रण वष" / A.Y.: 2010-11 The ACIT, Vs M/s Oswal Apparels P.Ltd., Central

M/S OSWAL FAB KNITS LTD.,LUDHIANA vs. DCIT, CC- 1,, LUDHIANA

The appeals of the assessee stand allowed and the appeal of the Revenue stand dismissed

Bench: Shri Sanjay Garg & Shri Krinwant Sahayआयकर अपील सं./Ita No. 425,426/Chd/2021 "नधा"रण वष" / A.Y.: 2009-10,2010-11 M/S Oswal Fab Knits Ltd., Vs The Dcit, Office No.23, # B 20-350, Central Cuircle-1, New Shopping Center, Ludhiana. Ghuman Mandi, Ludhiana. "थायीलेखासं./Pan No: Aaac09876B अपीलाथ"/Appellant ""यथ"/Respondent आयकर अपील सं./Ita No. 427,428/Chd/2021 "नधा"रण वष" / A.Y.: 2009-10, 2010-11 M/S Oswal Trends P.Ltd., Vs The Dcit, Office No.23, # B 20-350, Central Cuircle-1, New Shopping Center, Ludhiana. Ghuman Mandi, Ludhiana. "थायीलेखासं./Pan No: Aabco0431D अपीलाथ"/Appellant ""यथ"/Respondent आयकर अपील सं./Ita No. 430,431/Chd/2021 "नधा"रण वष" / A.Y.: 2009-10, 2010-11 M/S Oswal Apparels P.Ltd., Vs The Dcit, Office No.23, # B 20-350, Central Cuircle-1, New Shopping Center, Ludhiana. Ghuman Mandi, Ludhiana. "थायीलेखासं./Pan No: Aaaco9177H अपीलाथ"/Appellant ""यथ"/Respondent आयकर अपील सं./Ita No. 25/Chd/2022 "नधा"रण वष" / A.Y.: 2010-11 The Acit, Vs M/S Oswal Apparels P.Ltd., Central Cuircle-1, Office No.23, # B 20-350, Ludhiana. New Shopping Center, Ghuman Mandi, Ludhiana. "थायी लेखा सं./Pan No: Aaaco9177H अपीलाथ"/Appellant ""यथ"/Respondent

430,431/CHD/2021 "नधा"रण वष" / A.Y.: 2009-10, 2010-11 M/s Oswal Apparels P.Ltd., Vs The DCIT, Office No.23, # B 20-350, Central Cuircle-1, New Shopping Center, Ludhiana. Ghuman Mandi, Ludhiana. "थायीलेखासं./PAN NO: AAACO9177H अपीलाथ"/Appellant ""यथ"/Respondent आयकर अपील सं./ITA No. 25/CHD/2022 "नधा"रण वष" / A.Y.: 2010-11 The ACIT, Vs M/s Oswal Apparels P.Ltd., Central

M/S OSWAL TREND (P) LTD.,LUDHIANA vs. DCIT, C. C.-1, LUDHIANA

The appeals of the assessee stand allowed and the appeal of the Revenue stand dismissed

Bench: Shri Sanjay Garg & Shri Krinwant Sahayआयकर अपील सं./Ita No. 425,426/Chd/2021 "नधा"रण वष" / A.Y.: 2009-10,2010-11 M/S Oswal Fab Knits Ltd., Vs The Dcit, Office No.23, # B 20-350, Central Cuircle-1, New Shopping Center, Ludhiana. Ghuman Mandi, Ludhiana. "थायीलेखासं./Pan No: Aaac09876B अपीलाथ"/Appellant ""यथ"/Respondent आयकर अपील सं./Ita No. 427,428/Chd/2021 "नधा"रण वष" / A.Y.: 2009-10, 2010-11 M/S Oswal Trends P.Ltd., Vs The Dcit, Office No.23, # B 20-350, Central Cuircle-1, New Shopping Center, Ludhiana. Ghuman Mandi, Ludhiana. "थायीलेखासं./Pan No: Aabco0431D अपीलाथ"/Appellant ""यथ"/Respondent आयकर अपील सं./Ita No. 430,431/Chd/2021 "नधा"रण वष" / A.Y.: 2009-10, 2010-11 M/S Oswal Apparels P.Ltd., Vs The Dcit, Office No.23, # B 20-350, Central Cuircle-1, New Shopping Center, Ludhiana. Ghuman Mandi, Ludhiana. "थायीलेखासं./Pan No: Aaaco9177H अपीलाथ"/Appellant ""यथ"/Respondent आयकर अपील सं./Ita No. 25/Chd/2022 "नधा"रण वष" / A.Y.: 2010-11 The Acit, Vs M/S Oswal Apparels P.Ltd., Central Cuircle-1, Office No.23, # B 20-350, Ludhiana. New Shopping Center, Ghuman Mandi, Ludhiana. "थायी लेखा सं./Pan No: Aaaco9177H अपीलाथ"/Appellant ""यथ"/Respondent

430,431/CHD/2021 "नधा"रण वष" / A.Y.: 2009-10, 2010-11 M/s Oswal Apparels P.Ltd., Vs The DCIT, Office No.23, # B 20-350, Central Cuircle-1, New Shopping Center, Ludhiana. Ghuman Mandi, Ludhiana. "थायीलेखासं./PAN NO: AAACO9177H अपीलाथ"/Appellant ""यथ"/Respondent आयकर अपील सं./ITA No. 25/CHD/2022 "नधा"रण वष" / A.Y.: 2010-11 The ACIT, Vs M/s Oswal Apparels P.Ltd., Central

M/S OSWAL FAB KNITS LTD.,LUDHIANA vs. DCIT, CC- 1,, LUDHIANA

The appeals of the assessee stand allowed

Bench: Shri Sanjay Garg & Shri Krinwant Sahay

430,431/CHD/2021 "नधा"रण वष" / A.Y.: 2009-10, 2010-11 M/s Oswal Apparels P.Ltd., Vs The DCIT, Office No.23, # B 20-350, Central Cuircle-1, New Shopping Center, Ludhiana. Ghuman Mandi, Ludhiana. "थायीलेखासं./PAN NO: AAACO9177H अपीलाथ"/Appellant ""यथ"/Respondent आयकर अपील सं./ITA No. 25/CHD/2022 "नधा"रण वष" / A.Y.: 2010-11 The ACIT, Vs M/s Oswal Apparels P.Ltd., Central

M/S OSWAL APPARELS PVT. LTD.,LUDHIANA vs. DCIT, C.C.- 1, LUDHIANA

The appeals of the assessee stand allowed

Bench: Shri Sanjay Garg & Shri Krinwant Sahay

430,431/CHD/2021 "नधा"रण वष" / A.Y.: 2009-10, 2010-11 M/s Oswal Apparels P.Ltd., Vs The DCIT, Office No.23, # B 20-350, Central Cuircle-1, New Shopping Center, Ludhiana. Ghuman Mandi, Ludhiana. "थायीलेखासं./PAN NO: AAACO9177H अपीलाथ"/Appellant ""यथ"/Respondent आयकर अपील सं./ITA No. 25/CHD/2022 "नधा"रण वष" / A.Y.: 2010-11 The ACIT, Vs M/s Oswal Apparels P.Ltd., Central

PARVEEN KUMAR,229,VILLAGE MANAKPUR-II,TEHSIL JAGADHRI,HARYANA vs. PRABHJOT KAUR,PCIT PANCHKULA, CHANDIGARH

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

Bench: the Tribunal as pointed out by the Registry. Considering that the issue involved is purely legal in nature, and respectfully following the ratio laid down by the Hon'ble Supreme Court in Collector, Land Acquisition v. Mst. Katiji & Others [(1987) 167 ITR 471 (SC)], which emphasizes that substantial justice should prevail over technical considerations, we condone the delay in filing these appeals.3. We shall take appeal of the assessee in ITA No. 167/Chd/2023 for A.Y 2018-19 as a lead case f

430) (Gujarat) In view of the above, since in this case, the revision proceedings u/s 263 of the Act have been initiated merely based on the proposal of the Ld. Assessing Officer to initiate proceedings u/s 263 on his satisfaction that the assessment order passed by the Ld. AO is erroneous and prejudicial to the interest of revenue is invalid

KARTAR SINGH, FATEHABAD vs. PR. COMMISSIONER OF INCOME TAX, 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)

430) (Gujarat) In view of the above, since in this case, the revision proceedings u/s 263 of the Act have been initiated merely based on the proposal of the Ld. Assessing Officer to initiate proceedings u/s 263 on his satisfaction that the assessment order passed by the Ld. AO is erroneous and prejudicial to the interest of revenue is invalid

ASHOK KUMAR THAKRAL,JAGADHRI vs. PRINCIPAL COMMISSIONER OF INCOME TAX, PANCHKULA , PANCHKULA

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

Bench: the Tribunal as pointed out by the Registry. Considering that the issue involved is purely legal in nature, and respectfully following the ratio laid down by the Hon'ble Supreme Court in Collector, Land Acquisition v. Mst. Katiji & Others [(1987) 167 ITR 471 (SC)], which emphasizes that substantial justice should prevail over technical considerations, we condone the delay in filing these appeals.3. We shall take appeal of the assessee in ITA No. 167/Chd/2023 for A.Y 2018-19 as a lead case f

430) (Gujarat) In view of the above, since in this case, the revision proceedings u/s 263 of the Act have been initiated merely based on the proposal of the Ld. Assessing Officer to initiate proceedings u/s 263 on his satisfaction that the assessment order passed by the Ld. AO is erroneous and prejudicial to the interest of revenue is invalid