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

section 153C, for the sake of ready reference, are reproduced as under: 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68

SANJEEV KUMAR GOYAL,FATEHABAD vs. DCIT, CC-2, LUDHIANA

In the result, the appeal of the assesse is allowed

Bench: This Hon’Ble Tribunal Under Section 253 Of The Income Tax Act, 1961 As Amended From Time To Time. 2. The Assessee Is Aggrieved By The Order Of The Ld. Cit(A) Dt. 20/01/2023 In Appeal No. 10853/2018-19/It/Cit(A)-5/Ldh/2021-22 For The A.Y. 2019-20 Under Section 250(6) Of The Income Tax Act, 1961 Which Was Dismissed. Therefore The Present Second Appeal Under Section 253 Of The Income Tax Act, 1961 Before Us Against The Aforesaid Order Dt. 20/01/2023 Which Is Hereinafter Referred To As The Impugned Order.

68 has to be assessed under section 56. In the case before us, source of unexplained cash credits is not known and hence they cannot be linked to any known source/head of income including income from other sources. In order to constitute 'income from 'other sources', the source, namely, the "other sources", has to be identified. Income from unexplained

TARLOCHAN SINGH ,BHAWANIGARH vs. DCIT, CENTRAL CIRCLE, PATIALA

In the result, the appeal of the assessee is partly allowed

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

64 (All). In view of facts & decided cases Assessing Officer has wrongly invoked section 69 of Income Tax Act 1961 read with section 115BBE of Income Tax Act 1961. Ground of Appeal No. 3 Excess stock of Rs.17,07,029.00 assessed u/s 69 of Income Tax Act 1961. Para No.3 of assessment order at Page 5 reads that

SH. KRISHAN KUMAR,KHANNA vs. DCIT, CC-1, LUDHIANA

In the result, the appeal of the Assessee is allowed

Bench: Shri A.D. Jain & Shri Vikram Singh Yadav

68 of the Act and computed the Tax liability under the provisions of the section 115BBE of the Act." 7.7 As regards, the charging of income tax @ 60% invoking the provisions of section 115BBE on the income declared by 175-Chd-2023– Shri Krishan Kumar, Khanna 18 the Assessee in its return of income. The Assessee has already

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

In the result, this appeal of the Revenue stands dismissed

Bench: Shri Sanjay Garg & Shri Krinwant Sahay

64 of the Paper Book, wherein, the source of Share Application Money given to the assessee company was shown to be the money received from another companies. An amount of Rs. 20 lakhs was received from the group company named M/s Oswal Apparels Pvt. Ltd. The Ld. Counsel has further submitted that even the said M/s Oswal Apparels

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

In the result, this appeal of the Revenue stands dismissed

Bench: Shri Sanjay Garg & Shri Krinwant Sahay

64 of the Paper Book, wherein, the source of Share Application Money given to the assessee company was shown to be the money received from another companies. An amount of Rs. 20 lakhs was received from the group company named M/s Oswal Apparels Pvt. Ltd. The Ld. Counsel has further submitted that even the said M/s Oswal Apparels

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

In the result, this appeal of the Revenue stands dismissed

Bench: Shri Sanjay Garg & Shri Krinwant Sahay

64 of the Paper Book, wherein, the source of Share Application Money given to the assessee company was shown to be the money received from another companies. An amount of Rs. 20 lakhs was received from the group company named M/s Oswal Apparels Pvt. Ltd. The Ld. Counsel has further submitted that even the said M/s Oswal Apparels

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

In the result, this appeal of the Revenue stands dismissed

Bench: Shri Sanjay Garg & Shri Krinwant Sahay

64 of the Paper Book, wherein, the source of Share Application Money given to the assessee company was shown to be the money received from another companies. An amount of Rs. 20 lakhs was received from the group company named M/s Oswal Apparels Pvt. Ltd. The Ld. Counsel has further submitted that even the said M/s Oswal Apparels

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

In the result, this appeal of the Revenue stands dismissed

Bench: Shri Sanjay Garg & Shri Krinwant Sahay

64 of the Paper Book, wherein, the source of Share Application Money given to the assessee company was shown to be the money received from another companies. An amount of Rs. 20 lakhs was received from the group company named M/s Oswal Apparels Pvt. Ltd. The Ld. Counsel has further submitted that even the said M/s Oswal Apparels

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

In the result, this appeal of the Revenue stands dismissed

Bench: Shri Sanjay Garg & Shri Krinwant Sahay

64 of the Paper Book, wherein, the source of Share Application Money given to the assessee company was shown to be the money received from another companies. An amount of Rs. 20 lakhs was received from the group company named M/s Oswal Apparels Pvt. Ltd. The Ld. Counsel has further submitted that even the said M/s Oswal Apparels

INCOME TAX OFFICER, NEW LIBRA KOTHI, RAILWAY ROAD, SIRHIND vs. BHAGWAN DASS, AMLOH ROAD, MANDI GOBINDGARH

In the result, appeal of the Revenue is dismissed

68 read with section 115BBE of\nthe I.T. Act, 1961 on account of Unexplained Sundry Creditors.\n2. Whether on the facts and in the circumstances of the case the Ld. CIT(A) is correct\nin allowing the assessee's claim of GST paid of Rs.12,38,488/- under section 36(1)(vii) of\nthe Act, 1961 which

ITO, W-1(3), CHANDIGARH vs. SMT. RENU ANAND, CHANDIGARH

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

section 143(2) was issued on 02/09/2014 by the Dy. CIT Circle1(1) Chandigarh 2 and served upon the assessee on 08/09/2014. Thereafter the case record was transferred to ITO Ward1(3) which was received on 26/05/2015. That further proceedings were taken up by issuing notice u/s 142(1) alongwith questionnaire on 11/06/2015 followed by on 30/07/2015. That

SRI RAM HEALTH CARE PRIVATE LIMITED,BADDI vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE - PARWANOO, PARWANOO

In the result, all the appeal of the Assessee stand allowed for statistical purposes

Bench: Shri Laliet Kumar & Shri Krinwant Sahayआयकर अपील सं./ Ita No. 850/Chd/2025 "नधा"रण वष" / Assessment Year : 2010-11 Sri Ram Health Care Private The Dcit, Limited, बनाम Circle. 81C/2 Epip Phase I, Parwanoo Vs. Jharmajari, Baddi, Himachal Pradesh 173205 "थायी लेखा सं./ Pan No: Aamcs5840H अपीलाथ"/Appellant ""यथ"/Respondent ( Physical Hearing ) "नधा"रती क" ओर से/Assessee By : Sh. Manoj Kumar, Ca राज"व क" ओर से/ Revenue By : Dr.Ranjit Kaur, Addl. Cit, Sr. Dr

64,14,000/- under section 68 in the hands of the assessee company on account of share application money

SH. VARINDER KUMAR GUPTA,PATIALA vs. PR. CIT, PATIALA

In the result appeal of the assessee stands allowed

Bench: Shri Sanjay Garg & Ms. Annapurna Guptaआयकरअपीलसं./Ita No. 754/Chd/2018 "नधा"रणवष" / Assessment Year : 2013-14 Shri Varinder Kumar Gupta, The Ito, Ward -5, बनाम # 278, Urban Estate, Phase-1 Patiala Patiala "थायीलेखासं./Pan No: Anppg 8996Q अपीलाथ"/Appellant ""यथ"/Respondent

Section 68 of the Income Tax Act, 1961 and had been presumed as genuine by the Assessing Officer simply on the basis of these transactions being of banking nature. Huge transactions in the bank accounts in respect of an assessee who has shown meager income of Rs.8,43,730/- only should have been examined in depth. No income from

SHRI BALBIR SINGH VERMA,SHIMLA vs. PR.CIT, SHIMLA

In the result, appeal of the Assessee is allowed

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

68, read with Section 115BBE. The absence of independent inquiry led the Pr. CIT to determine that the assessment order was again erroneous and prejudicial to the revenue. 5.4 Upon examining the Balance Sheet and its schedules, the Pr. CIT also found a discrepancy of Rs. 17,50,000 in the closing stock value of four flats. Although

N.H. CONSTRUCTIONS PVT. LTD.,PANCHKULA vs. DCIT, PANCHKULA CIRCLE, PANCHKULA

In the result, appeal of the assessee is allowed

Bench: Shri Rajpal Yadav & Shri Krinwant Sahay

68 of the Income Tax Act. We find that assessee has taken a loan of Rs.47,64,800/- from four individuals namely, Deepak Rawa Rs.25 lacs, Harish Rs.5 lacs, Sarika Rana Rs. 5 lacs, Kanta Rani Garg Rs.12,64,000/-. According to the AO, assessee failed to submit requisite details for fulfilling the conditions enumerated under Section

SHRI KRISHAN KUMAR JALAN,BANGALORE vs. ITO, W-1, SIRSA

In the result appeal of the assessee is dismissed

Section 68 of the Act,\nwhere any sum is found credited in the books of the assessee for any\nprevious year the same may be charged to income tax as the income of\nthe assessee of that previous year if the explanation offered by the\nassessee about the nature and source thereof is, in the opinion of the\nAssessing

INDERJIT SINGH BRAR,PATIALA vs. INCOME TAX OFFICER, PATIALA

In the result, appeal of the assessee is allowed

Bench: Shri Rajpal Yadav

68 of the Income Tax Act. 3. The brief facts of the case are that assessee was running a business concern in the name and style of M/s B.G. Infrastructure. He has closed this business w.e.f. 01.04.2017. He has filed his return of income on 13.10.2017 declaring total income of Rs.5,05,270/-. The case of the assessee was selected

SH. MOHIT MITTAL PROP. MITTAL ENTERPRISES,LUDHIANA, PUNJAB vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE - 1 LUDHIANA, LUDHIANA, PUNJAB

In the result, appeal is allowed

Bench: Shri Rajpal Yadav & Shri Krinwant Sahay

68, 69, 69A, 69B, 69C and 69D, the provisions of Section II5BBE are not attracted in this case. 10. In view of the above, the action of the lower authorities in invoking provisions of Section II5BBE on the surrender income of Rs. 15 lacs is set aside and the AO is directed to compute the said surrendered A.Y.2020-21