SH. AMAR SINGH,JAGADHARI vs. ITO, YAMUNANAGAR

In the result, both the appeal of different assessees are allowed

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

Section 54 of Transfer Property Act, it is clear that when the price is partly paid and partly promised, the immovable property is deemed to have been transferred on execution and registration of Sale Deed if the possession of property has been given to the buyer. The assessee’s claim that the possession of the property remained with the seller

SH. JAI RAM,JAGADHARI vs. ITO, YAMUNANAGAR

In the result, both the appeal of different assessees are allowed

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

Section 54 of Transfer Property Act, it is clear that when the price is partly paid and partly promised, the immovable property is deemed to have been transferred on execution and registration of Sale Deed if the possession of property has been given to the buyer. The assessee’s claim that the possession of the property remained with the seller

SARASWATI AGRO CHEMICALS (INDIA) PVT. LTD,MOHALI vs. DCIT, CIRCLE-6(1), MOHALI

In the result, the transfer pricing adjustment so made by the AO and confirmed by the ld CIT(A) amounting to Rs 89,22,420/- is hereby set-aside and the ground of appeal is allowed

Bench: Or At The Time Of Hearing.”

Transfer Pricing Officer the aggregate value of specified domestic transactions has been taken from the Form 3CEB filed by the appellant. Perusal of Form 3CEB, prescribed under Rule 10E, states as "Report from an accountant to be furnished under section 92E relating to International Transaction(s) and Specified domestic transaction(s). The particulars of the above transaction(s) required

M/S JSK INTERNATIONAL,BADDI vs. PR. CIT, SHIMLA

The appeal of the Assessee is Allowed

transfer pricing provisions pertaining to specified domestic transactions are under consideration of the CBDT. Till such time the guidance pertaining to specified domestic transactions is not issued, paragraph 3.5 of this Instruction shall apply to the effect that where a case has been selected for scrutiny on non-TP parameters and the case also involves specified domestic transactions with

M/S NECTAR LIFESCIENCE LTD.,CHANDIGARH vs. DCIT, C-1(1), CHANDIGARH

In the result, appeal of the assessee is allowed

section 92C of the Act to the TPO for determining the arms length price in respect of specific domestic transaction undertaken by the assessee. The TPO after examining the transfer pricing adjustment and analyzing the specific domestic transaction with associated enterprises, proceeded to bench mark the power from eligible unit to non eligible unit specifically supply of electricity and steam

DAMANDEEP KAUR,MOHALI vs. ASSISTANT COMMISSIONER OF INCOME TAX (CENTRAL CIRCLE-2), CHANDIGARH, CHANDIGARH

In the result, all appeals of the assessee are allowed

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

14. Per contra the Revenue argued that the assessee originally filed return as resident and therefore AO proceeded accordingly; that Section 144C was intended for transfer-pricing

M/S OM CONTRACTOR AND ENGINEERS,SANGRUR vs. PCIT, PATIALA

The appeals of the assessees stand allowed

Bench: Shri Sudhanshu Srivastava & Shri Vikram Singh Yadav

14 ITA 483/Chd/2022 1. That order passed u/s 263 of the Income Tax Act, 1961 by the Learned Principal Commissioner of Income Tax, Patiala is against law and facts on the file in as much he has failed to show as to how the assessment order passed by the Learned Assessing Officer is erroneous in as much as prejudicial

M/S SHIV SHAKTI CONSTRUCTION,SANGRUR vs. PCIT, PATIALA

The appeals of the assessees stand allowed

Bench: Shri Sudhanshu Srivastava & Shri Vikram Singh Yadav

14 ITA 483/Chd/2022 1. That order passed u/s 263 of the Income Tax Act, 1961 by the Learned Principal Commissioner of Income Tax, Patiala is against law and facts on the file in as much he has failed to show as to how the assessment order passed by the Learned Assessing Officer is erroneous in as much as prejudicial

M/S OMKAR ENGINEER AND CONTRACTOR,SANGRUR vs. PCTI, PATIALA

The appeals of the assessees stand allowed

Bench: Shri Sudhanshu Srivastava & Shri Vikram Singh Yadav

14 ITA 483/Chd/2022 1. That order passed u/s 263 of the Income Tax Act, 1961 by the Learned Principal Commissioner of Income Tax, Patiala is against law and facts on the file in as much he has failed to show as to how the assessment order passed by the Learned Assessing Officer is erroneous in as much as prejudicial

M/S MAA BHAGWATI ENTERPRISES,SANGRUR vs. PCIT, PATIALA

The appeals of the assessees stand allowed

Bench: Shri Sudhanshu Srivastava & Shri Vikram Singh Yadav

14 ITA 483/Chd/2022 1. That order passed u/s 263 of the Income Tax Act, 1961 by the Learned Principal Commissioner of Income Tax, Patiala is against law and facts on the file in as much he has failed to show as to how the assessment order passed by the Learned Assessing Officer is erroneous in as much as prejudicial

SH. RAMINDER SINGH,MOHALI vs. INCOME TAX OFFICER, WARD-6(2), MOHALI

The appeal of the assessee stands partly allowed

Bench: Shri Sanjay Garg & Smt.Annapurna Guptaआयकर अपील सं./ Ita No.1270/Chd/2019 "नधा"रण वष" / Assessment Year : 2015-16

14,00,000 * 497/1024 Rs. 22,95,243/- Rs. 22,95,243/- Deduction u/s 54 Rs. 91,04,757/- Investment in house property u/s 54 = Rs. 96,50,000/- Long Term Capital Gain = Nil. “ That the AO took the value of the plots at Rs.2.50 crores,as per section 50C of the Act,as against 1.14 crs shown

PAREXEL INTERNATIONAL SERVICES INDIA PVT.LTD,,CHANDIGARH vs. ACIT,CIRCLE-5(1),(NEAC), CHANDIGARH

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

Bench: SHRI. AAKASH DEEP JAIN (Vice President), SHRI. SHRI. KRINWANT SAHAY (Accountant Member)

Transfer Pricing Study was illegally disregarded and ignored. Further, though the ld. DRP initially upheld the CUP in principle, it upheld the CPM, as applied by the TPO, and it went on to ultimately make the TNMM the basis for the adjustment to determine the arm’s length price of the transaction. It also has rightly been called in question

DAMANDEEP KAUR,MOHALI vs. ASSISTANT COMMISSIONER OF INCOME TAX (CENTRAL CIRCLE-2), CHANDIGARH, CHANDIGARH

In the result, all appeals of the assessee are allowed

14-07-2022 | 104 | 104 | 261 | Resident\n\nThus, the assessee's non-resident status under section 6 of the Act stands\nundisputed and accepted by all revenue authorities including the CIT(A) and\nthe BMA authority.\n12.\nThe assessee in written submissions has contended that once she is\naccepted as a non-resident, she automatically falls in the definition

DAMANDEEP KAUR,MOHALI vs. ASSISTANT COMMISSIONER OF INCOME TAX (CENTRAL CIRCLE-2), CHANDIGARH, CHANDIGARH

In the result, all appeals of the assessee are allowed

14-07-2022 | 104 | 104 | 261 | Resident |\n\nThus, the assessee's non-resident status under section 6 of the Act stands\nundisputed and accepted by all revenue authorities including the CIT(A) and\nthe BMA authority.\n\n12.\nThe assessee in written submissions has contended that once she is\naccepted as a non-resident, she automatically falls

SAHIBZADA TIMBER AND PLY PRIVATE LIMITED ,MOHALI vs. DCIT, ACIT CENTRAL CIRCLE-2, CHANDIGARH, CHANDIGARH

In the result, the appeal of the assessee is dismissed

Bench: SHRI. VIKRAM SINGH YADAV, AM आयकर अपील सं./ ITA No. 699/Chd/2024 निर्धारण वर्ष / Assessment Year : 2019-20 M/s Sahibzada Timber & Ply Private Limited B41-42, Phase-3, Indl. Aera, SAS Nagar Mohali, Punjab बनाम The DCIT Central Circle-2 Chandigarh स्थायी लेखा सं./PAN NO: AAQCS2239G अपीलार्थी/Appellant प्रत्यर्थी/Respondent निर्धारिती की ओर से/Assessee by : Shri Mohit Dhiman, C.A राजस्व की ओर से/ Revenue by : Dr. Ranjeet Kaur, Sr. DR Shri Dharam Vir, Addl. CIT, Sr.DR सुनवाई की तारीख/Date of He

14. Considering the language of sub section (2) of Section 12B of the 1922 Act, we are of the opinion that the judgment applies to Section 48 of the 1961 Act. The language of sub section (2) in this regard is 'similar to the language of the opening part of Section 48 of the Act. 15. The judgment undoubtedly holds

M/S YAMUNA POWER & INFRASTRUCTURE LTD.,JAGADHRI vs. DCIT, CIRCLE, YAMUNANAGAR

In the result, the appeal of the assessee is allowed

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

Transfer Pricing documentation which contained the functional and economic analysis of the assessee and the comparables and no adverse inference was drawn in respect of International and Specified Domestic Transactions so undertaken by the assessee in terms of his order passed under section 92CA(3) dt. 28/09/2017. At the same time, the TPO in his order has stated that

M/S BLUE COAST INFRASTRUCTURE DEVELOPMENT P. LTD.,SOLAN vs. DCIT, PARWANOO

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

Bench: Shri N.K. Saini & Shri Sanjay Gargआयकरअपीलसं./Ita No. 652/Chd/2017 "नधा"रणवष" / Assessment Year : 2008-09 M/S Blue Coast Infrastructure Vs. Dy. Commissioner Of Development P. Ltd., 7, Income Tax, Circle, बनाम Shopping Complex, Sector-1, Parwanoo Parwanoo, Distt. Solan, H.P.

transfer of capital assets. As per section 2(14) of the Income Tax Act 1961, capital asset has been defined as "Capital asset means property of any kind held by an assessee whether or not connected with his business or profession, but does not include- ..........................(iii) agricultural land in India, not being land situate- (a) in any area which

SANJEEV KUMAR KATHURIA,YAMUNA NAGAR vs. INCOME TAX OFFICER WARD 1 , YAMUNANAGAR

In the result, the appeal of the assessee is allowed

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

14. Ld. AR also submitted that the collector rate is always fixed as minimum rate in order to collect stamp duty and FMV cannot be compared with collector rate.Ld. AR submitted that the FMV of construction of house depends upon the quality of construction and collector rate cannot applied blankly on all type of construction and your honour shall appreciate