TARUN JAIN,BATHINDA vs. PR.CIT(CENTRAL), LUDHIANA

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

short term capital gain of Rs. 5,580/- on purchase and sale of gold coins on the same day and taxable at the maximum rate of income tax. As such, the assessment made by the AO is not erroneous and prejudicial to interest of revenue as observed by the learned Principal Commissioner of Income Tax (Central), Ludhiana. 6. That

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

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

section 68 of the Act. Once the transaction of selling shares to the companies other than 21 companies belonging to Shri SCS has to be accepted as genuine long-term capital gain, then the transaction of selling the shares of the group company controlled and managed by Shri SCS should also be given the same treatment. In the cases

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

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

section 68 of the Act. Once the transaction of selling shares to the companies other than 21 companies belonging to Shri SCS has to be accepted as genuine long-term capital gain, then the transaction of selling the shares of the group company controlled and managed by Shri SCS should also be given the same treatment. In the cases

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

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

section 68 of the Act. Once the transaction of selling shares to the companies other than 21 companies belonging to Shri SCS has to be accepted as genuine long-term capital gain, then the transaction of selling the shares of the group company controlled and managed by Shri SCS should also be given the same treatment. In the cases

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

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

section 68 of the Act. Once the transaction of selling shares to the companies other than 21 companies belonging to Shri SCS has to be accepted as genuine long-term capital gain, then the transaction of selling the shares of the group company controlled and managed by Shri SCS should also be given the same treatment. In the cases

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

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

section 68 of the Act. Once the transaction of selling shares to the companies other than 21 companies belonging to Shri SCS has to be accepted as genuine long-term capital gain, then the transaction of selling the shares of the group company controlled and managed by Shri SCS should also be given the same treatment. In the cases

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

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

section 68 of the Act. Once the transaction of selling shares to the companies other than 21 companies belonging to Shri SCS has to be accepted as genuine long-term capital gain, then the transaction of selling the shares of the group company controlled and managed by Shri SCS should also be given the same treatment. In the cases

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

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

section 68 of the Act. Once the transaction of selling shares to the companies other than 21 companies belonging to Shri SCS has to be accepted as genuine long-term capital gain, then the transaction of selling the shares of the group company controlled and managed by Shri SCS should also be given the same treatment. In the cases

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

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

section 68 of the Act. Once the transaction of selling shares to the companies other than 21 companies belonging to Shri SCS has to be accepted as genuine long-term capital gain, then the transaction of selling the shares of the group company controlled and managed by Shri SCS should also be given the same treatment. In the cases

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

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

section 68 of the Act. Once the transaction of selling shares to the companies other than 21 companies belonging to Shri SCS has to be accepted as genuine long-term capital gain, then the transaction of selling the shares of the group company controlled and managed by Shri SCS should also be given the same treatment. In the cases

M/S SANJAY SINGAL HUF,CHANDIGARH vs. DCIT, CC-1, CHANDIGARH

Bench: SHRI A.D.JAIN (Vice President), SHRI KRINWANT SAHAY (Accountant Member)

short term capital gain and bogus share capital / share premium/ unsecured loan. Such statements under Section 132(4) of the Act, by Shri Shrish Chandrakant Shah and Shri R.K. Kedia, were supported by seizure of a large number of incriminating documents, during the course of search proceedings carried out in their cases, including cash books reflecting flow of ITA 655/CHD/2023

SANJAY SINGAL,CHANDIGARH vs. DEPUTY COMMISSIONER OF INCOME TAX, CC-1, CHANDIGARH

Bench: SHRI A.D.JAIN (Vice President), SHRI KRINWANT SAHAY (Accountant Member)

short term capital gain and bogus share capital / share premium/ unsecured loan. Such statements under Section 132(4) of the Act, by Shri Shrish Chandrakant Shah and Shri R.K. Kedia, were supported by seizure of a large number of incriminating documents, during the course of search proceedings carried out in their cases, including cash books reflecting flow of ITA 655/CHD/2023

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

In the result appeal of the assessee is dismissed

Term Capital Gains on Transactions\nofSuspicious Shares of the above said Company: There is a substantial number\nofassesses all over the country, who have, for buying peace of mind and for\navoiding any kind of litigation have surrendered the amounts of capital gains\nshown earlier as income either in the revised returns of income or disclosed in\nIncome Declaration Scheme

SOHAN SINGH GARCHA,LUDHIANA vs. ACIT, LUDHIANA

In the result, this appeal of the assessee is hereby allowed

Bench: Shri Sanjay Garg & Ms. Annapurna Guptac.O. No. 39/Chd/2012 (In Ita No. 973/Chd/2012) "नधा"रणवष" / Assessment Years : 2006-07 Shri Sohan Lal Garcha, Vs. The Dcit, 901/2, Punjab Mata Natar, Circle Vi, बनाम Ludhiana Ludhiana

short 'the Act'), whereas, the Cross objections No. 39/Chd/2012 has been preferred by the assessee with respect to the appeal of the Revenue bearing ITA No.973/Chd/2012 against the order of the CIT(A) dated 20.11.2009 in respect of the appeal against the order of the Assessing Officer passed u/s 143(3) of the Act. Cross Objections No. 5/Chd/2013 has been

M/S SATWANT AGRO ENGINEERS,BHAWANIGARH vs. DCIT, CENTRAL CIRCLE, PATIALA

In the result, the appeal of the assessee is partly allowed for statistical purposes

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

short period of 10 hours, the stock was physically counted by the department and the inventory of stock was prepared. The department has not furnished any copy of the said inventory to the assessee. It is admitted fact that stock of Rs. 1,24,60,160.00 was calculated against stock in hand at Rs.1,14,60,160.00 leaving aside

SHRI SATISH KUMAR,SANGRUR vs. ITO, WARD, SANGRUR

In the result, appeal of the assessee’s are allowed

Short term Capital gain and Long term Capital gain and the above said circular was issued after the period of due date of filing of return. As soon as the appellant came to know about this circular, he has filed rectification application u/s 154 as on 03/01/2018 in which income under the head capital gain has been claimed as exempt

SMT. URMILA GARG,SANGRUR vs. ITO, WARD, SANGRUR

In the result, appeal of the assessee’s are allowed

Short term Capital gain and Long term Capital gain and the above said circular was issued after the period of due date of filing of return. As soon as the appellant came to know about this circular, he has filed rectification application u/s 154 as on 03/01/2018 in which income under the head capital gain has been claimed as exempt

DCIT, CHANDIGARH vs. SH. KULWANT SINGH, MOHALI

Bench: Shri Sanjay Garg & Dr. B.R.R. Kumar

Capital gains ". Section 45 is a charging section. For the purpose of imposing the charge, Parliament has enacted detailed provisions in order to compute ITA Nos.41 to 44, 387, 45 to 54/Chd/17 & CO 16-to 30-Chd-2018- Shri Kulwant Singh & Others, Mohali 8 the profits or gains under that head. No existing principle or provision at variance with them