PR. COMMISSIONER OF INCOME TAX-19 vs. SHRI NEERAJ JINDAL

Bench: HON'BLE MR. JUSTICE S. RAVINDRA BHAT,HON'BLE MR. JUSTICE NAJMI WAZIRI

132(4) of the Act, the assessee was given notice under Section 153A to file fresh return of his income. Thereafter, the assessee filed revised returns and the return filed by the assessee under Section 153A was accepted as such by the A.O. However, the A.O. was of the opinion that inasmuch that the income disclosed by the assessee under

BEST BULL STOCK TRADING PVT LTD.,NEW DELHI vs. ACIT CENTRAL CIRCLE-18, DELHI

In the result, the appeals of the revenue in ITA No

Bench: Sh. C.N. Prasad & Sh. M. Balaganesh

132 TTJ 490 (Nagpur) wherein the coordinate bench held that; 9. After an in-depth study of the entire case record, on a patient hearing of both the sides and after reading the case law cited at length, our observations and findings on the matter are as follows. Before giving our observation and finding, it has been deemed proper

BEST BULL STOCK TRADING PVT LTD.,NEW DELHI vs. ACIT, CENTRAL CIRCLE-18, NEW DELHI

In the result, the appeals of the revenue in ITA No

Bench: Sh. C.N. Prasad & Sh. M. Balaganesh

132 TTJ 490 (Nagpur) wherein the coordinate bench held that; 9. After an in-depth study of the entire case record, on a patient hearing of both the sides and after reading the case law cited at length, our observations and findings on the matter are as follows. Before giving our observation and finding, it has been deemed proper

RICHMOND EDUCATIONAL SOCIETY,NOIDA vs. DCIT/ACIT CENTRAL CIRCLE, GHAZIABAD, GHAZIABAD

Bench: Shri Challa Nagendra Prasad & Shri M. Balaganesh

132 of the Act, there is not a single finding or material to suggest that the Assessee Society has abandoned, diluted or diverted from its principal and predominant object of imparting education, or that its funds were applied towards any object other than education. Hence in the absence of any such allegation or evidence demonstrating the deviation from the predominant

DIRECTOR OF INCOME TAX (EXEMPTION) vs. AIPECCS SOCIETY

1) of the Act were satisfied. It was urged that a warrant of authorization, which did not specify a person but only the premises to be searched was contrary to the provisions of Section 132 of the Act and, therefore, was illegal. The Assessee also argued that no search had been conducted on the Assessee and, therefore, an assessment under

AMIT BANSAL,HARYANA vs. ACIT, CENTRAL CIRCLE-16, DELHI

In the result, the appeal filed by the assessee is allowed

Bench: SHRI S.RIFAUR RAHMAN (Accountant Member), SHRI SUDHIR PAREEK (Judicial Member)

132 (Delhi)/[2013] 212 Taxman 68 (Delhi) (MAG.)/[2012] 253 CTR 559 (Delhi), interpreted the applicability of Expln. 5 to Section 271[1][c] of the Income Tax Act, 1961. Where in compliance to notice u/s 153C, assessee disclosed substantially higher income adding other sources, i.e. rent from house property and income from other sources. It was held that conduct

SURESH CHAND BANSAL,HARYANA vs. ACIT, CENTRAL CIRCLE-16 , DELHI

In the result, the appeal filed by the assessee is allowed

Bench: SHRI S.RIFAUR RAHMAN (Accountant Member), SHRI SUDHIR PAREEK (Judicial Member)

132 (Delhi)/[2013] 212 Taxman 68 (Delhi) (MAG.)/[2012] 253 CTR 559 (Delhi), interpreted the applicability of Expln. 5 to Section 271[1][c] of the Income Tax Act, 1961. Where in compliance to notice u/s 153C, assessee disclosed substantially higher income adding other sources, i.e. rent from house property and income from other sources. It was held that conduct

AMIT BANSAL,HARYANA vs. ACIT CENTRAL CIRCLE-16, DELHI

In the result, the appeal filed by the assessee is allowed

Bench: SHRI S.RIFAUR RAHMAN (Accountant Member), SHRI SUDHIR PAREEK (Judicial Member)

132 (Delhi)/[2013] 212 Taxman 68 (Delhi) (MAG.)/[2012] 253 CTR 559 (Delhi), interpreted the applicability of Expln. 5 to Section 271[1][c] of the Income Tax Act, 1961. Where in compliance to notice u/s 153C, assessee disclosed substantially higher income adding other sources, i.e. rent from house property and income from other sources. It was held that conduct

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

132 of the Act in the case of the assessee on 26.10.2007. After the regular assessments proceedings under section 143(3) of the Act were taken up by the assessee and during the pendency thereof; the AO received material / information from the AO of Shri. Manoj Kumar Jain. As per the second proviso to section 153C

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

132 of the Act in the case of the assessee on 26.10.2007. After the regular assessments proceedings under section 143(3) of the Act were taken up by the assessee and during the pendency thereof; the AO received material / information from the AO of Shri. Manoj Kumar Jain. As per the second proviso to section 153C

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

132 of the Act in the case of the assessee on 26.10.2007. After the regular assessments proceedings under section 143(3) of the Act were taken up by the assessee and during the pendency thereof; the AO received material / information from the AO of Shri. Manoj Kumar Jain. As per the second proviso to section 153C

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

132 of the Act in the case of the assessee on 26.10.2007. After the regular assessments proceedings under section 143(3) of the Act were taken up by the assessee and during the pendency thereof; the AO received material / information from the AO of Shri. Manoj Kumar Jain. As per the second proviso to section 153C

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

132 of the Act in the case of the assessee on 26.10.2007. After the regular assessments proceedings under section 143(3) of the Act were taken up by the assessee and during the pendency thereof; the AO received material / information from the AO of Shri. Manoj Kumar Jain. As per the second proviso to section 153C

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

132 of the Act in the case of the assessee on 26.10.2007. After the regular assessments proceedings under section 143(3) of the Act were taken up by the assessee and during the pendency thereof; the AO received material / information from the AO of Shri. Manoj Kumar Jain. As per the second proviso to section 153C

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

132 of the Act in the case of the assessee on 26.10.2007. After the regular assessments proceedings under section 143(3) of the Act were taken up by the assessee and during the pendency thereof; the AO received material / information from the AO of Shri. Manoj Kumar Jain. As per the second proviso to section 153C

ACIT, NEW DELHI vs. M/S SPLENDOR LANDBASE LTD.,, NEW DELHI

In the result, the Appeal filed by the Revenue stand dismissed

Bench: Shri H.S. Sidhu & Shri O.P. Kanti.T.A. No.2461/Del/2016 A.Y. : 2010-11 Assistant Commissioner M/S Splendor Landbase Of Income, Central Vs. Limited, Circle-3, F-38/2, Splendor House, New Delhi Okhla Industrial Area, Phase-Ii, New Delhi (Pan: Aaeca3986E) (Appellant) (Respondent) & C.O. No. 215/Del/2016 In I.T.A. No. 2461/Del/2016 A.Y. : 2010-11 M/S Splendor Landbase Assistant Commissioner Limited, Vs. Of Income, Central Circle- F-38/2, Splendor House, 3, Okhla Industrial Area, New Delhi Phase-Ii, New Delhi (Pan: Aaeca3986E) (Appellant) (Respondent)

depreciation of Rs 40,35,877/- and allow set off in the next/subsequent years, which does not need any interference on our part, hence, we uphold the finding of the Ld. CIT(A) on this issue and accordingly reject the grounds raised by the Revenue. In the result, the Revenue’s appeal is dismissed. ASSESSEE’S CROSS OBJECTION 8. Apropos

DCIT, HISAR vs. JINDAL STEEL & POWER LTD., HISAR

In the result, the appeal filed by the Revenue for the Assessment Year 2008-09 is dismissed

Bench: Shri Amit Shukla & Dr. B.R.R. Kumar(Through Video Conferencing)

1. Jindal Holding Limited is not a related company in terms of section 40A(2)(b) of the Act; 2. The assessee had not divested interest bearing funds to Jindal Holding Limited free of interest inasmuch as: (i) the amount had originally been advanced by Jindal Strips Limited and not the assessee; and (ii) loan was interest bearing and interest

ACIT, HISAR vs. JINDAL STEEL & POWER LTD., HISAR

In the result, the appeal filed by the Revenue for the Assessment Year 2008-09 is dismissed

Bench: Shri Amit Shukla & Dr. B.R.R. Kumar(Through Video Conferencing)

1. Jindal Holding Limited is not a related company in terms of section 40A(2)(b) of the Act; 2. The assessee had not divested interest bearing funds to Jindal Holding Limited free of interest inasmuch as: (i) the amount had originally been advanced by Jindal Strips Limited and not the assessee; and (ii) loan was interest bearing and interest