ANAND JAIN HUF,NEW DELHI vs. DCIT, CENTRAL CIRCLE- 25, NEW DELHI

In the result, the appeal of the assessee is allowed

Bench: Shri H.S. Sidhu & Shri B.R.R. Kumar

capital gain claimed u/s. 10(38) of the I.T. Act and disallowed the same by adding back to the total income of the assessee vide order dated 29.12.2017 and also added the commission amounting to Rs. 9,30,406/- on account of unexplained expenditure u/s. 69C of the Act, on bogus LTCG received through accommodation entries at the income

ANAND JAIN HUF,NEW DELHI vs. DCIT, CENTRAL CIRCLE- 25, NEW DELHI

In the result, the appeal of the assessee is allowed

Bench: Shri H.S. Sidhu & Shri B.R.R. Kumar

capital gain claimed u/s. 10(38) of the I.T. Act and disallowed the same by adding back to the total income of the assessee vide order dated 29.12.2017 and also added the commission amounting to Rs. 9,30,406/- on account of unexplained expenditure u/s. 69C of the Act, on bogus LTCG received through accommodation entries at the income

SAJAN KUMAR JAIN,DELHI vs. DCIT,CENTRAL CIRCLE-25, NEW DELHI

In the result, the appeal of the assessee is allowed

Bench: Shri H.S. Sidhu & Shri B.R.R. Kumar

capital gain claimed u/s. 10(38) of the I.T. Act and disallowed the same by adding back to the total income of the assessee vide order dated 29.12.2017 and also added the commission amounting to Rs. 9,30,406/- on account of unexplained expenditure u/s. 69C of the Act, on bogus LTCG received through accommodation entries at the income

SATISH DEV JAIN,DELHI vs. DCIT, CENTRAL CIRCLE-25, NEW DELHI

In the result, the appeal of the assessee is allowed

Bench: Shri H.S. Sidhu & Shri B.R.R. Kumar

capital gain claimed u/s. 10(38) of the I.T. Act and disallowed the same by adding back to the total income of the assessee vide order dated 29.12.2017 and also added the commission amounting to Rs. 9,30,406/- on account of unexplained expenditure u/s. 69C of the Act, on bogus LTCG received through accommodation entries at the income

ANAND KUMAR JAIN,FARIDABAD vs. DCIT, CENTRAL CIRCLE-25, NEW DELHI

In the result, the appeal of the assessee is allowed

Bench: Shri H.S. Sidhu & Shri B.R.R. Kumar

capital gain claimed u/s. 10(38) of the I.T. Act and disallowed the same by adding back to the total income of the assessee vide order dated 29.12.2017 and also added the commission amounting to Rs. 9,30,406/- on account of unexplained expenditure u/s. 69C of the Act, on bogus LTCG received through accommodation entries at the income

ANAND KUMAR JAIN,NEW DELHI vs. DCIT, CENTRAL CIRCLE- 25, NEW DELHI

In the result, the appeal of the assessee is allowed

Bench: Shri H.S. Sidhu & Shri B.R.R. Kumar

capital gain claimed u/s. 10(38) of the I.T. Act and disallowed the same by adding back to the total income of the assessee vide order dated 29.12.2017 and also added the commission amounting to Rs. 9,30,406/- on account of unexplained expenditure u/s. 69C of the Act, on bogus LTCG received through accommodation entries at the income

ANAND KUMAR JAIN,NEW DELHI vs. DCIT, CENTRAL CIRCLE- 25, NEW DELHI

In the result, the appeal of the assessee is allowed

Bench: Shri H.S. Sidhu & Shri B.R.R. Kumar

capital gain claimed u/s. 10(38) of the I.T. Act and disallowed the same by adding back to the total income of the assessee vide order dated 29.12.2017 and also added the commission amounting to Rs. 9,30,406/- on account of unexplained expenditure u/s. 69C of the Act, on bogus LTCG received through accommodation entries at the income

COMMISSIONER OF INCOME TAX (CENTRAL)-III vs. KABUL CHAWLA

1)(a) of the Act. 2015:DHC:7044-DB ITA Nos. 707, 709 and 713 of 2014 Page 17 of 26 26. In the High Court the question was whether the CIT could invoke the power under Section 263 of the Act once the proceedings under Section 153A was initiated. The High Court in Canara Housing (supra) answered the question

COMMISSIONER OF INCOME TAX (CENTRAL)-III vs. KABUL CHAWLA

1)(a) of the Act. 2015:DHC:7044-DB ITA Nos. 707, 709 and 713 of 2014 Page 17 of 26 26. In the High Court the question was whether the CIT could invoke the power under Section 263 of the Act once the proceedings under Section 153A was initiated. The High Court in Canara Housing (supra) answered the question

COMMISSIONER OF INCOME TAX (CENTRAL)-III vs. KABUL CHAWLA

1)(a) of the Act. 2015:DHC:7044-DB ITA Nos. 707, 709 and 713 of 2014 Page 17 of 26 26. In the High Court the question was whether the CIT could invoke the power under Section 263 of the Act once the proceedings under Section 153A was initiated. The High Court in Canara Housing (supra) answered the question

PR. COMMISSIONER OF INCOME TAX CENTRAL 2 NEW DELHI vs. MEETA GUTGUTIA PROP M/S FERNS N PETALS

Bench: HON'BLE DR. JUSTICE S.MURALIDHAR,HON'BLE MR. JUSTICE CHANDER SHEKHAR

1) (b) provides for the assessment or reassessment of the total income of the six assessment years immediately preceding the assessment year relevant to the previous year in which the search took place. To repeat, there is no condition in this Section that additions should be strictly made on the basis of evidence found in the course of the search

PR. COMMISSIONER OF INCOME TAX CENTRAL 2 NEW DELHI vs. MEETA GUTGUTIA PROP M/S FERSN N PETALS

Bench: HON'BLE DR. JUSTICE S.MURALIDHAR,HON'BLE MR. JUSTICE CHANDER SHEKHAR

1) (b) provides for the assessment or reassessment of the total income of the six assessment years immediately preceding the assessment year relevant to the previous year in which the search took place. To repeat, there is no condition in this Section that additions should be strictly made on the basis of evidence found in the course of the search

PR COMMISSIONER OF INCOME TAX CENTRAL -2 vs. MEETA GUTGUTIA PROP M/S FERNS N PETALS

Bench: HON'BLE DR. JUSTICE S.MURALIDHAR,HON'BLE MR. JUSTICE CHANDER SHEKHAR

1) (b) provides for the assessment or reassessment of the total income of the six assessment years immediately preceding the assessment year relevant to the previous year in which the search took place. To repeat, there is no condition in this Section that additions should be strictly made on the basis of evidence found in the course of the search

DCIT CENTRAL CIRCLE-8, NEW DELHI vs. AMOLAK SINGH BHATIA, BILASPUR

In the result, all the cross objections filed by the assessee are allowed as above and all the appeals of the Revenue are dismissed as infructuous

1) of section 153B, except with the prior approval of the joint Commissioner. In the present case, the assessment order has been passed by an Income Tax Officer, who admittedly is an officer below the rank of joint Commissioner; therefore, the provisions of section 153D of the Act would be applicable. Section 153D starts with the words "No order

DCIT CENTRAL CIRCLE-8, NEW DELHI vs. AMOLAK SINGH BHATIA, BILASPUR

In the result, all the cross objections filed by the assessee are allowed as above and all the appeals of the Revenue are dismissed as infructuous

1) of section 153B, except with the prior approval of the joint Commissioner. In the present case, the assessment order has been passed by an Income Tax Officer, who admittedly is an officer below the rank of joint Commissioner; therefore, the provisions of section 153D of the Act would be applicable. Section 153D starts with the words "No order

DCIT CENTRAL CIRCLE-8, NEW DELHI vs. AMOLAK SINGH BHATIA, BILASPUR

In the result, all the cross objections filed by the assessee are allowed as above and all the appeals of the Revenue are dismissed as infructuous

1) of section 153B, except with the prior approval of the joint Commissioner. In the present case, the assessment order has been passed by an Income Tax Officer, who admittedly is an officer below the rank of joint Commissioner; therefore, the provisions of section 153D of the Act would be applicable. Section 153D starts with the words "No order

DCIT CENTRAL CIRCLE-8, NEW DELHI vs. AMOLAK SINGH BHATIA, BILASPUR

In the result, all the cross objections filed by the assessee are allowed as above and all the appeals of the Revenue are dismissed as infructuous

1) of section 153B, except with the prior approval of the joint Commissioner. In the present case, the assessment order has been passed by an Income Tax Officer, who admittedly is an officer below the rank of joint Commissioner; therefore, the provisions of section 153D of the Act would be applicable. Section 153D starts with the words "No order

DCIT CENTRAL CIRCLE-8, NEW DELHI vs. AMOLAK SINGH BHATIA, BILASPUR

In the result, all the cross objections filed by the assessee are allowed as above and all the appeals of the Revenue are dismissed as infructuous

1) of section 153B, except with the prior approval of the joint Commissioner. In the present case, the assessment order has been passed by an Income Tax Officer, who admittedly is an officer below the rank of joint Commissioner; therefore, the provisions of section 153D of the Act would be applicable. Section 153D starts with the words "No order