COMMISSIONER OF INCOME TAX CHANDIGARH vs. M/S IMPROVEMENT TRUST BATHINDA

The appeals are hereby dismissed

Bench: MRS. JUSTICE LISA GILL,MR. JUSTICE DEEPAK MANCHANDA

1)Improvement Trust Bathinda is providing “Public utility services” and not for the purpose of profit. (2)That the functions of Improvement Trust Bathinda in Punjab is the same before the amendment of the Act and after the amendment of section 2(15) of the Act. (3)From the Balance sheet we find that there is always Loss. PANKAJ BAWEJA

COMMISSIONER OF INCOME TAX ROHTAK vs. M/S CRYSTAL PHOSPHATES LTD

Bench: MS. JUSTICE RITU BAHRI,MRS. JUSTICE MANISHA BATRA

1) During the assessment proceedings, the identity and creditworthiness of the parties subscribed share capital remained unproved and the genuineness of the transaction was also unproved, therefore, the capital of Rs.55,00,000/- was treated as income from undisclosed sources of the assessee’s company. (2) No information/details in respect of the share application money amounting to Rs.51

PR COMMISSIONER OF INCOME TAX-I, JALANDHAR vs. M/S SUPERTECH FORGINGS PVT LTD

Appeal is dismissed

Bench: MS. JUSTICE RITU BAHRI,MRS. JUSTICE MANISHA BATRA

disallowed the entire purchases amounting to Rs.4,26,93,470/- holding as unverifiable purchases from the following parties:- Sr. No. Name of the concern Amount of purchases 1. Madan Lal Pahuja M/s. Shiv bholeKirpa Trade, Shivpuri, Ludhiana 1.05 Cr 2. Lovy Steel and Allied Industries, Sector 3, Gobindgarh 0.17 Cr 3. Jatinder Kumar Shree Nath Ispat Udhyog, Gobindgar