D.C.I.T., CIRCLE-1, DIBRUGARH vs. BACHH RAJ BAMALWA, DIBRUGARH

In the result, all the appeals of the Revenue are dismissed and that of the Cross Objections of the assessees are allowed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

unexplained cash credits received. 3. Whether a fact emanating from the statement recorded during search operation could be sufficient to initiate and complete the proceedings u/s 153A/153D of the Income Tax Act. 4. The appellant craves the leave to add/modify/alter any or all the grounds during the course of hearing/pendency of appeal.” 4. As far as the Cross Objections raised

D.C.I.T., CIRCLE-1, DIBRUGARH vs. BACHH RAJ BAMALWA, DIBRUGARH

In the result, all the appeals of the Revenue are dismissed and that of the Cross Objections of the assessees are allowed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

unexplained cash credits received. 3. Whether a fact emanating from the statement recorded during search operation could be sufficient to initiate and complete the proceedings u/s 153A/153D of the Income Tax Act. 4. The appellant craves the leave to add/modify/alter any or all the grounds during the course of hearing/pendency of appeal.” 4. As far as the Cross Objections raised

D.C.I.T., CIRCLE- 1, DIBRUGARH vs. HANS RAJ BAMALWA, DIBRUGARH

In the result, all the appeals of the Revenue are dismissed and that of the Cross Objections of the assessees are allowed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

unexplained cash credits received. 3. Whether a fact emanating from the statement recorded during search operation could be sufficient to initiate and complete the proceedings u/s 153A/153D of the Income Tax Act. 4. The appellant craves the leave to add/modify/alter any or all the grounds during the course of hearing/pendency of appeal.” 4. As far as the Cross Objections raised

D.C.I.T., CIRCLE- 1, DIBRUGARH vs. HANS RAJ BAMALWA (HUF), DIBRUGARH

In the result, all the appeals of the Revenue are dismissed and that of the Cross Objections of the assessees are allowed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

unexplained cash credits received. 3. Whether a fact emanating from the statement recorded during search operation could be sufficient to initiate and complete the proceedings u/s 153A/153D of the Income Tax Act. 4. The appellant craves the leave to add/modify/alter any or all the grounds during the course of hearing/pendency of appeal.” 4. As far as the Cross Objections raised

D.C.I.T., CIRCLE- 1, DIBRUGARH vs. USHA BAMALWA, DIBRUGARH

In the result, all the appeals of the Revenue are dismissed and that of the Cross Objections of the assessees are allowed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

unexplained cash credits received. 3. Whether a fact emanating from the statement recorded during search operation could be sufficient to initiate and complete the proceedings u/s 153A/153D of the Income Tax Act. 4. The appellant craves the leave to add/modify/alter any or all the grounds during the course of hearing/pendency of appeal.” 4. As far as the Cross Objections raised

D.C.I.T., CIRCLE- 1, DIBRUGARH vs. MEENAKSHI BAMALWA SONI, DIBRUGARH

In the result, all the appeals of the Revenue are dismissed and that of the Cross Objections of the assessees are allowed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

unexplained cash credits received. 3. Whether a fact emanating from the statement recorded during search operation could be sufficient to initiate and complete the proceedings u/s 153A/153D of the Income Tax Act. 4. The appellant craves the leave to add/modify/alter any or all the grounds during the course of hearing/pendency of appeal.” 4. As far as the Cross Objections raised

D.C.I.T., CIRCLE- 1, DIBRUGARH vs. BHAGWATI DEVII BAMALWA , DIBRUGARH

In the result, all the appeals of the Revenue are dismissed and that of the Cross Objections of the assessees are allowed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

unexplained cash credits received. 3. Whether a fact emanating from the statement recorded during search operation could be sufficient to initiate and complete the proceedings u/s 153A/153D of the Income Tax Act. 4. The appellant craves the leave to add/modify/alter any or all the grounds during the course of hearing/pendency of appeal.” 4. As far as the Cross Objections raised

D.C.I.T., CIRCLE- 1, DIBRUGARH vs. VISHAL BAMALWA , DIBRUGARH

In the result, all the appeals of the Revenue are dismissed and that of the Cross Objections of the assessees are allowed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

unexplained cash credits received. 3. Whether a fact emanating from the statement recorded during search operation could be sufficient to initiate and complete the proceedings u/s 153A/153D of the Income Tax Act. 4. The appellant craves the leave to add/modify/alter any or all the grounds during the course of hearing/pendency of appeal.” 4. As far as the Cross Objections raised

DCIT, CIRCLE-1, DIBRUGARH vs. BAJRANG LAL BAMALWA, DIBRUGARH

In the result, all the appeals of the Revenue are dismissed and that of the Cross Objections of the assessees are allowed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

unexplained cash credits received. 3. Whether a fact emanating from the statement recorded during search operation could be sufficient to initiate and complete the proceedings u/s 153A/153D of the Income Tax Act. 4. The appellant craves the leave to add/modify/alter any or all the grounds during the course of hearing/pendency of appeal.” 4. As far as the Cross Objections raised

DCIT, CIRCLE-1, DIBRUGARH vs. BAJRANG LAL BAMALWA, DIBRUGARH

In the result, all the appeals of the Revenue are dismissed and that of the Cross Objections of the assessees are allowed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

unexplained cash credits received. 3. Whether a fact emanating from the statement recorded during search operation could be sufficient to initiate and complete the proceedings u/s 153A/153D of the Income Tax Act. 4. The appellant craves the leave to add/modify/alter any or all the grounds during the course of hearing/pendency of appeal.” 4. As far as the Cross Objections raised

D.C.I.T., CIRCLE-1, DIBRUGARH vs. PRAMOD KUMAR BAMALWA, DIBRUGARH

In the result, all the appeals of the Revenue are dismissed and that of the Cross Objections of the assessees are allowed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

unexplained cash credits received. 3. Whether a fact emanating from the statement recorded during search operation could be sufficient to initiate and complete the proceedings u/s 153A/153D of the Income Tax Act. 4. The appellant craves the leave to add/modify/alter any or all the grounds during the course of hearing/pendency of appeal.” 4. As far as the Cross Objections raised

D.C.I.T., CIRCLE-1, DIBRUGARH vs. VINOD BAMALWA, DIBRUGARH

In the result, all the appeals of the Revenue are dismissed and that of the Cross Objections of the assessees are allowed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

unexplained cash credits received. 3. Whether a fact emanating from the statement recorded during search operation could be sufficient to initiate and complete the proceedings u/s 153A/153D of the Income Tax Act. 4. The appellant craves the leave to add/modify/alter any or all the grounds during the course of hearing/pendency of appeal.” 4. As far as the Cross Objections raised

D.C.I.T., CIRCLE-1, DIBRUGARH vs. VINAY BAMALWA, DIBRUGARH

In the result, all the appeals of the Revenue are dismissed and that of the Cross Objections of the assessees are allowed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

unexplained cash credits received. 3. Whether a fact emanating from the statement recorded during search operation could be sufficient to initiate and complete the proceedings u/s 153A/153D of the Income Tax Act. 4. The appellant craves the leave to add/modify/alter any or all the grounds during the course of hearing/pendency of appeal.” 4. As far as the Cross Objections raised

D.C.I.T., CIRCLE-1, DIBRUGARH vs. RAVI BAMALWA, DIBRUGARH

In the result, all the appeals of the Revenue are dismissed and that of the Cross Objections of the assessees are allowed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

unexplained cash credits received. 3. Whether a fact emanating from the statement recorded during search operation could be sufficient to initiate and complete the proceedings u/s 153A/153D of the Income Tax Act. 4. The appellant craves the leave to add/modify/alter any or all the grounds during the course of hearing/pendency of appeal.” 4. As far as the Cross Objections raised

D.C.I.T., CIRCLE-1, DIBRUGARH vs. MADAN LAL BAMALWA, DIBRUGARH

In the result, all the appeals of the Revenue are dismissed and that of the Cross Objections of the assessees are allowed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

unexplained cash credits received. 3. Whether a fact emanating from the statement recorded during search operation could be sufficient to initiate and complete the proceedings u/s 153A/153D of the Income Tax Act. 4. The appellant craves the leave to add/modify/alter any or all the grounds during the course of hearing/pendency of appeal.” 4. As far as the Cross Objections raised

D.C.I.T., CIRCLE-1, DIBRUGARH vs. SHEETAL BAMALWA, DIBRUGARH

In the result, all the appeals of the Revenue are dismissed and that of the Cross Objections of the assessees are allowed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

unexplained cash credits received. 3. Whether a fact emanating from the statement recorded during search operation could be sufficient to initiate and complete the proceedings u/s 153A/153D of the Income Tax Act. 4. The appellant craves the leave to add/modify/alter any or all the grounds during the course of hearing/pendency of appeal.” 4. As far as the Cross Objections raised

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-3, GUWAHATI vs. SHRI PANNALAL BHANSALI, GUWAHATI

In the result, appeal of the revenue as well as the Cross

Bench: Shri Sanjay Garg & Shri Girish Agrawalassessment Year: 2016-17

unexplained cash credit u/s. 68 of the Act b) Addition on account of Long Term - Rs.2,58,69,249/- Capital Gain (LTCG) claimed as exemption u/s. 10(38) and Short Term Capital Gain (STCG) c) Disallowance of loss from trading - Rs.20,22,293/- in commodity and F&O derivatives 2.2. In the addition and disallowance at (a) and (b) above

SHRI KOMAL KUMBHAT,GUWAHATI vs. INCOME TAX OFFICER, WARD-2(1), GUWAHATI

Bench: Shri Sanjay Gargi.T.A No.136/Gty/2020 Assessment Year: 2014-15 Shri Komal Kumbhat…………...................................................……Appellant 234, G.N.B Road, 2Nd Floor, Opposite Gauhati Club Bus Stand-Above Sarita Restaurant, Guwahati-781003. [Pan: Aedpk8036P] Vs. Ito, Ward-2(1), Guwahati...…...................……........……...…..…..Respondent Appearances By: Shri H. S. Kumbhat, Ar, Appeared On Behalf Of The Appellant. Shri N. T. Sherpa, Jcit-Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : March 14, 2023 Date Of Pronouncing The Order : May 25, 2023 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Present Appeal Has Been Preferred By The Assessee Against The Order Dated 02.03.2020 Of The Commissioner Of Income Tax (Appeals)- Guwahati-1, Guwahati (Hereinafter Referred To As The ‘Cit(A)’) Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). 2. The Assessee In This Appeal Through Various Grounds Of Appeal Has Agitated Two Issues I.E. (I) Addition Made/Confirmed By The Lower Authorities On Long-Term Capital Gains Claimed By The Assessee Of Rs.21,80,417/- Treating The Same As Bogus & Thereby Adding The Same

transferred in the name of the assessee in the Books of Kappac Pharma Ltd. in the month of October 2012 (as claimed) and has been credited in the D-mat account of the assessee only in the month of February, 2014 i.e just one month before its sale in the month of March, 2014. Further that the payment against