In an action-packed match, Assam Rifles rode on a 55th minute goal by defender Debender Singh to win the championship.
The two teams were locked 0-0 at half time.
Singh beautifully headed home a chipped pass by a teammate M Kames.
Punjab Police played hard and dominated the last 15 minutes, but failed to get the equaliser to push the match into extra-time.
The Director General of Police (DGP) Abhayanand gave away prizes to the winner.
Kerala Police's striker Naziruddin won the Golden Boot award for scoring six goals in the championship, while Assam Rifle's Manik Chand was adjudged as the best goalkeeper.