CIT Vs. Mark Auto Industries Ltd., 358 ITR 43, CIT v. Kamal Family Trust

59 Taxmann.com 455High Court2015#4373 most cited

What is CIT Vs. Mark Auto Industries Ltd., 358 ITR 43, CIT v. Kamal Family Trust authority for?

Decisions relied upon by the Punjab & Haryana High Court are binding on lower authorities, especially when considering the prospective application of amendments.

27

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2019 to 2022.

Also referred to as

CIT Vs. Mark Auto Industries Ltd. · CIT Vs. Kamal Family Trust · CIT Vs. Nuchem Limited · prospective amendment · Finance Act 2021 · Explanation-5 · assessment year 2021-22 · Tribunal decisions · binding precedent

Issues it is cited on

section 36(2)(i)preliminary expensessection 46explanation to section 37section 35dsection 36(1)(viia)full and true disclosureprohibited by lawdomestic companysection 36(1)(vii)mere change of opinionsection 35

Judgments citing CIT Vs. Mark Auto Industries Ltd., 358 ITR 43, CIT v. Kamal Family Trust

AMRITSAR SWADESHI TEXTILE CORPORATION,AMRITSAR vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1, AMRITSAR

In the result, ITA Nos. 158/Asr/2022, 168/Asr/2022, 170/Asr/2022 and 175/Asr/2022 of the assessees are allowed

ITA 175/ASR/2022[2020-21]Status: DisposedITAT Amritsar16 Sept 2022AY 2020-21

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

Section 139Section 139(1)Section 143(1)Section 2(24)(x)Section 250Section 36(1)(va)Section 43B

…IN THE INCOME TAX APPELLATE TRIBUNAL AMRITSAR BENCH, AMRITSAR. BEFORE DR. M. L. MEENA, ACCOUNTANT MEMBER AND SH. ANIKESH BANERJEE, JUDICIAL MEMBER I.T.A. No. 175/Asr/2022 Assessment Year: 2020-21 Amritsar Swadeshi Textile Vs. Income Tax Officer, Corporation Pvt. Ltd. Ram Ward-2(1), Amritsar. Tirath Road, Amritsar. [PAN:AAFCA0627F] (Respondent) (Appellant) I.T.A. No. 158/Asr/2022 Assessment Year: 2019-20 Satish Jain, M/s Jain Industries Vs. DCIT/ACIT, Circle-1, M/s R.R. Medicare, Kathorli, Jammu. Bari Brahamana Jammu. [PAN:ABLPJ6598A] (Respondent) (Appellant) I.T.A. No. 168/Asr/2022 Assessment Year: 2020-21…

TRG INDUSTRIES PRIVATE LIMITED,JAMMU vs. ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE, JAMMU

In the result, ITA Nos. 158/Asr/2022, 168/Asr/2022, 170/Asr/2022 and 175/Asr/2022 of the assessees are allowed

ITA 170/ASR/2022[2018-19]Status: DisposedITAT Amritsar16 Sept 2022AY 2018-19

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

Section 139Section 139(1)Section 143(1)Section 2(24)(x)Section 250Section 36(1)(va)Section 43B

…IN THE INCOME TAX APPELLATE TRIBUNAL AMRITSAR BENCH, AMRITSAR. BEFORE DR. M. L. MEENA, ACCOUNTANT MEMBER AND SH. ANIKESH BANERJEE, JUDICIAL MEMBER I.T.A. No. 175/Asr/2022 Assessment Year: 2020-21 Amritsar Swadeshi Textile Vs. Income Tax Officer, Corporation Pvt. Ltd. Ram Ward-2(1), Amritsar. Tirath Road, Amritsar. [PAN:AAFCA0627F] (Respondent) (Appellant) I.T.A. No. 158/Asr/2022 Assessment Year: 2019-20 Satish Jain, M/s Jain Industries Vs. DCIT/ACIT, Circle-1, M/s R.R. Medicare, Kathorli, Jammu. Bari Brahamana Jammu. [PAN:ABLPJ6598A] (Respondent) (Appellant) I.T.A. No. 168/Asr/2022 Assessment Year: 2020-21…

SANT VALVES PRIVATE LIMITED,JALANDHAR vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1, JALANDHAR

In the result, ITA Nos. 158/Asr/2022, 168/Asr/2022, 170/Asr/2022 and 175/Asr/2022 of the assessees are allowed

ITA 168/ASR/2022[2020-21]Status: DisposedITAT Amritsar16 Sept 2022AY 2020-21

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

Section 139Section 139(1)Section 143(1)Section 2(24)(x)Section 250Section 36(1)(va)Section 43B

…IN THE INCOME TAX APPELLATE TRIBUNAL AMRITSAR BENCH, AMRITSAR. BEFORE DR. M. L. MEENA, ACCOUNTANT MEMBER AND SH. ANIKESH BANERJEE, JUDICIAL MEMBER I.T.A. No. 175/Asr/2022 Assessment Year: 2020-21 Amritsar Swadeshi Textile Vs. Income Tax Officer, Corporation Pvt. Ltd. Ram Ward-2(1), Amritsar. Tirath Road, Amritsar. [PAN:AAFCA0627F] (Respondent) (Appellant) I.T.A. No. 158/Asr/2022 Assessment Year: 2019-20 Satish Jain, M/s Jain Industries Vs. DCIT/ACIT, Circle-1, M/s R.R. Medicare, Kathorli, Jammu. Bari Brahamana Jammu. [PAN:ABLPJ6598A] (Respondent) (Appellant) I.T.A. No. 168/Asr/2022 Assessment Year: 2020-21…

SH. SATISH JAIN,JAMMU vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1, JAMMU

In the result, ITA Nos. 158/Asr/2022, 168/Asr/2022, 170/Asr/2022 and 175/Asr/2022 of the assessees are allowed

ITA 158/ASR/2022[2019-20]Status: DisposedITAT Amritsar16 Sept 2022AY 2019-20

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

Section 139Section 139(1)Section 143(1)Section 2(24)(x)Section 250Section 36(1)(va)Section 43B

…IN THE INCOME TAX APPELLATE TRIBUNAL AMRITSAR BENCH, AMRITSAR. BEFORE DR. M. L. MEENA, ACCOUNTANT MEMBER AND SH. ANIKESH BANERJEE, JUDICIAL MEMBER I.T.A. No. 175/Asr/2022 Assessment Year: 2020-21 Amritsar Swadeshi Textile Vs. Income Tax Officer, Corporation Pvt. Ltd. Ram Ward-2(1), Amritsar. Tirath Road, Amritsar. [PAN:AAFCA0627F] (Respondent) (Appellant) I.T.A. No. 158/Asr/2022 Assessment Year: 2019-20 Satish Jain, M/s Jain Industries Vs. DCIT/ACIT, Circle-1, M/s R.R. Medicare, Kathorli, Jammu. Bari Brahamana Jammu. [PAN:ABLPJ6598A] (Respondent) (Appellant) I.T.A. No. 168/Asr/2022 Assessment Year: 2020-21…

M/S ROYAL FURNISHERS,JAMMU vs. ASSESSING OFFICER WARD - 2 (2), JAMMU

In the result, the appeal of the assessee is allowed

ITA 55/ASR/2022[AY 2019-20]Status: DisposedITAT Amritsar10 Aug 2022

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

For Appellant: None (Written submission)For Respondent: Sh. S. M. Surendranath, Sr. DR
Section 139(1)Section 143(1)Section 263Section 36Section 43B

…IN THE INCOME TAX APPELLATE TRIBUNAL AMRITSAR BENCH, AMRITSAR BEFORE DR. M. L. MEENA, ACCOUNTANT MEMBER AND SH. ANIKESH BANERJEE, JUDICIAL MEMBER I.T.A. No. 55/Asr/2022 Assessment Year: 2019-20 M/s Royal Furnishers Vs. Assessing Officer Ward 2(2) Residency Road, Income Tax Office, Panama Jammu Chowk, Jammu [PAN: AAGFR 8701H] (Appellant) (Respondent) Appellant by : None (Written submission) Respondent by: Sh. S. M. Surendranath, Sr. DR Date of Hearing: 13.07.2022 Date of Pronouncement: 11.08.2022 ORDER Per Dr. M. L. Meena, A.M.: The appeal filed by the assessee is directed against the order of the l…

MR. ATULBHAI RAVJIBHAI PATEL,VADODARA vs. THE DCIT, CPC, BANGLORE

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

ITA 300/AHD/2021[2018-19]Status: DisposedITAT Ahmedabad22 Apr 2022AY 2018-19

Bench: Dr. Arjun Lal Saini & Shri T.R. Senthil Kumarassessment Years : 2018-19 Mr. Atulbhai Ravjibhai Patel, The Dcit, S-09, Second Floor, Indiabulls Vs Cpc, Mega Mall, Jetalpur Road, Bangalore Vadodara Pan : Ahupp 6260 E अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : None Written Submission On Record Revenue By : Shri R.R. Makwana, Sr. Dr सुनवाई क" तार"ख/Date Of Hearing : 18/04/2022 घोषणा क" तार"ख /Date Of Pronouncement : 22/04/2022

For Appellant: NoneFor Respondent: Shri R.R. Makwana, Sr. DR
Section 143(1)Section 36(1)(va)

…IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” BENCH, AHMEDABAD \ BEFORE DR. ARJUN LAL SAINI, ACCOUNTANT MEMBER AND SHRI T.R. SENTHIL KUMAR, JUDICIAL MEMBER Assessment Years : 2018-19 Mr. Atulbhai Ravjibhai Patel, The DCIT, S-09, Second Floor, Indiabulls Vs CPC, Mega Mall, Jetalpur Road, Bangalore Vadodara PAN : AHUPP 6260 E अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee by : None Written submission on record Revenue by : Shri R.R. Makwana, Sr. DR सुनवाई क" तार"ख/Date of Hearing : 18/04/2022 घोषणा क" तार"ख /Date of Pronouncement : 22/04/2022 आदेश/O R D E R PER T.R. SENTHIL KUMAR, JUDICIAL MEMBER : This is an…

MITHILA AND MITHILA ENTERPRISE,NEW DELHI vs. WARD- 49(4), NEW DELHI

In the result, all the three appeals filed by the assessee are allowed

ITA 1906/DEL/2021[2019-20]Status: DisposedITAT Delhi31 Mar 2022AY 2019-20

Bench: Shri Challa Nagendra Prasad, A N D Shri Pradip Kumar Kedia(Through Video Conferencing) आ.अ.सं./ I.T.A Nos. 1904, 1905 & 1906/Del/2021 िनधा"रणवष"/Assessment Years: 2017-18, 2018-19 & 2019-20 Mithila & Mithila Enterprises, Assessing Officer, C-22, New Krishna Park, बनाम Ward : 49 (4), Vikas Puri, Vs. New Delhi. New Delhi – 110 018. Pan No. Aasfm1647F अपीलाथ"/Appellant ""यथ"/Respondent

For Appellant: Shri Gaurav Pundir, Sr. D.RFor Respondent: 24/02/2022
Section 143(1)Section 36Section 36(1)(viia)Section 43B

…I.T.A.Nos. 1904 TO 1906/Del/2021 IN THE INCOME TAX APPELLATE TRIBUNAL [ DELHI BENCH “E”NEW DELHI ] BEFORE SHRI CHALLA NAGENDRA PRASAD, JUDICIAL MEMBER, A N D SHRI PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER (Through Video Conferencing) आ.अ.सं./ I.T.A Nos. 1904, 1905 & 1906/Del/2021 िनधा"रणवष"/Assessment Years: 2017-18, 2018-19 & 2019-20 Mithila and Mithila Enterprises, Assessing Officer, C-22, New Krishna Park, बनाम Ward : 49 (4), Vikas Puri, Vs. New Delhi. New Delhi – 110 018. PAN No. AASFM1647F अपीलाथ"/Appellant ""यथ"/Respondent Shri Baldev Raj, C. A.; िनधा"रतीक"ओरसे /Assessee by : Shri Gaurav Pundir, Sr. D.R.; रा…

MITHILA AND MITHILA ENTERPRISE,NEW DELHI vs. WARD- 49(4), NEW DELHI

In the result, all the three appeals filed by the assessee are allowed

ITA 1905/DEL/2021[2018-19]Status: DisposedITAT Delhi31 Mar 2022AY 2018-19

Bench: Shri Challa Nagendra Prasad, A N D Shri Pradip Kumar Kedia(Through Video Conferencing) आ.अ.सं./ I.T.A Nos. 1904, 1905 & 1906/Del/2021 िनधा"रणवष"/Assessment Years: 2017-18, 2018-19 & 2019-20 Mithila & Mithila Enterprises, Assessing Officer, C-22, New Krishna Park, बनाम Ward : 49 (4), Vikas Puri, Vs. New Delhi. New Delhi – 110 018. Pan No. Aasfm1647F अपीलाथ"/Appellant ""यथ"/Respondent

For Appellant: Shri Gaurav Pundir, Sr. D.RFor Respondent: 24/02/2022
Section 143(1)Section 36Section 36(1)(viia)Section 43B

…I.T.A.Nos. 1904 TO 1906/Del/2021 IN THE INCOME TAX APPELLATE TRIBUNAL [ DELHI BENCH “E”NEW DELHI ] BEFORE SHRI CHALLA NAGENDRA PRASAD, JUDICIAL MEMBER, A N D SHRI PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER (Through Video Conferencing) आ.अ.सं./ I.T.A Nos. 1904, 1905 & 1906/Del/2021 िनधा"रणवष"/Assessment Years: 2017-18, 2018-19 & 2019-20 Mithila and Mithila Enterprises, Assessing Officer, C-22, New Krishna Park, बनाम Ward : 49 (4), Vikas Puri, Vs. New Delhi. New Delhi – 110 018. PAN No. AASFM1647F अपीलाथ"/Appellant ""यथ"/Respondent Shri Baldev Raj, C. A.; िनधा"रतीक"ओरसे /Assessee by : Shri Gaurav Pundir, Sr. D.R.; रा…

MITHILA AND MITHILA ENTERPRISE,DELHI vs. WARD 49(4) DELHI , DELHI

In the result, all the three appeals filed by the assessee are allowed

ITA 1904/DEL/2021[2017-18]Status: DisposedITAT Delhi31 Mar 2022AY 2017-18

Bench: Shri Challa Nagendra Prasad, A N D Shri Pradip Kumar Kedia(Through Video Conferencing) आ.अ.सं./ I.T.A Nos. 1904, 1905 & 1906/Del/2021 िनधा"रणवष"/Assessment Years: 2017-18, 2018-19 & 2019-20 Mithila & Mithila Enterprises, Assessing Officer, C-22, New Krishna Park, बनाम Ward : 49 (4), Vikas Puri, Vs. New Delhi. New Delhi – 110 018. Pan No. Aasfm1647F अपीलाथ"/Appellant ""यथ"/Respondent

For Appellant: Shri Gaurav Pundir, Sr. D.RFor Respondent: 24/02/2022
Section 143(1)Section 36Section 36(1)(viia)Section 43B

…I.T.A.Nos. 1904 TO 1906/Del/2021 IN THE INCOME TAX APPELLATE TRIBUNAL [ DELHI BENCH “E”NEW DELHI ] BEFORE SHRI CHALLA NAGENDRA PRASAD, JUDICIAL MEMBER, A N D SHRI PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER (Through Video Conferencing) आ.अ.सं./ I.T.A Nos. 1904, 1905 & 1906/Del/2021 िनधा"रणवष"/Assessment Years: 2017-18, 2018-19 & 2019-20 Mithila and Mithila Enterprises, Assessing Officer, C-22, New Krishna Park, बनाम Ward : 49 (4), Vikas Puri, Vs. New Delhi. New Delhi – 110 018. PAN No. AASFM1647F अपीलाथ"/Appellant ""यथ"/Respondent Shri Baldev Raj, C. A.; िनधा"रतीक"ओरसे /Assessee by : Shri Gaurav Pundir, Sr. D.R.; रा…

SH. SANJEEV SHYAM ,SHIMLA vs. DCIT,CPC/ITO-WARD-2, SHIMLA

In the result, the appeal of the assessee is allowed

ITA 316/CHANDI/2021[2018-19]Status: DisposedITAT Chandigarh23 Mar 2022AY 2018-19

Bench: Smt.Diva Singh & Shri Vikram Singh Yadavsanjeev Shyam, Deputy Commissioner Of बनाम M/S Veagle Securities Service, Income Tax, Cpc, Bengaluru, Karnataka. Kaushal Niwas, Kauftadhar, Bharari, Shimla. "थायी लेखा सं./Pan No: Bxwps6383L

For Appellant: Shri Vishal Mohan, AdvFor Respondent: Dr.Ranjeet Kaur, Sr.DR
Section 139(1)Section 143(1)Section 250Section 250(6)Section 36(1)(va)Section 43B

…tted that the aforesaid decisions have since been followed by the Hon'ble Punjab & Haryana High Court in the case of CIT Vs. Mark Auto Industries Ltd., 358 ITR 43, CIT Vs. Kamal Family Trust (2013), 219 Taxman 81 and 3 A.Y.2018-19 CIT Vs. Nuchem Limited, 59 Taxmann.com 455. It was submitted that the Ld.CIT(A) has relied upon the amendment brought in by the Finance Act, 2021 wherein Explanation-5 has been inserted. It was submitted that the said amendment has been inserted w.e.f. assessment year 2021-22 onwards and have to be read prospectively and not retrospectively and various Benches of the Tribunal has…

THE UNITED WESTERN BANK LTD. (THROUGH SUCCESSORS IDBI BANK LTD.),MUMBAI vs. DCIT,, SATARA

In the result, all the three appeals filed by the assessee are disposed of as above

ITA 289/PUN/2010[2002-03]Status: DisposedITAT Mumbai23 Mar 2022AY 2002-03

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

For Appellant: Shri C Narseh, ARFor Respondent: Shri
Section 143(3)Section 14ASection 35DSection 36(1)(vii)Section 36(1)(viia)Section 37

…IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SHRI PRASHANT MAHARISHI, AM AND SHRI PAVAN KUMAR GADALE, JM ITA No. 289/PN/2010 (Assessment Year 2002-03) IDBI Bank Ltd. (successor to the United Asst. Commissioner of Western bank Ltd.) Income Tax (LTU), 22nd Floor, Taxation Cell, WTC Complex, Vs. IDBI Tower, WTC Complex, Cuffe Parade, Cuffe Parade, Mumbai -400 005 Mumbai-400 005 (Appellant) (Respondent) PAN NO.AABCI8842G (successor to AABCT0177D) Assessee by : Shri C Narseh, AR Revenue by : Shri Ajay Kumar/ Vivek Upadhay, DR Date of hearing: 12.01.2022 Date of pronouncement : 23.03.2022 O R D E R…

THE UNITED WESTERN BANK LTD.,,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME-TAX,, JALGAON

In the result, all the three appeals filed by the assessee are disposed of as above

ITA 1339/PUN/2007[2002-03]Status: DisposedITAT Mumbai23 Mar 2022AY 2002-03

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

For Appellant: Shri C Narseh, ARFor Respondent: Shri
Section 143(3)Section 14ASection 35DSection 36(1)(vii)Section 36(1)(viia)Section 37

…IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SHRI PRASHANT MAHARISHI, AM AND SHRI PAVAN KUMAR GADALE, JM ITA No. 289/PN/2010 (Assessment Year 2002-03) IDBI Bank Ltd. (successor to the United Asst. Commissioner of Western bank Ltd.) Income Tax (LTU), 22nd Floor, Taxation Cell, WTC Complex, Vs. IDBI Tower, WTC Complex, Cuffe Parade, Cuffe Parade, Mumbai -400 005 Mumbai-400 005 (Appellant) (Respondent) PAN NO.AABCI8842G (successor to AABCT0177D) Assessee by : Shri C Narseh, AR Revenue by : Shri Ajay Kumar/ Vivek Upadhay, DR Date of hearing: 12.01.2022 Date of pronouncement : 23.03.2022 O R D E R…

THE UNITED WESTERN BANK LTD.,,SATARA vs. ADDITIONAL COMMISSIONER OF INCOME-TAX,, SATARA

In the result, all the three appeals filed by the assessee are disposed of as above

ITA 1738/PUN/2005[2002-03]Status: DisposedITAT Mumbai23 Mar 2022AY 2002-03

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

For Appellant: Shri C Narseh, ARFor Respondent: Shri
Section 143(3)Section 14ASection 35DSection 36(1)(vii)Section 36(1)(viia)Section 37

…IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SHRI PRASHANT MAHARISHI, AM AND SHRI PAVAN KUMAR GADALE, JM ITA No. 289/PN/2010 (Assessment Year 2002-03) IDBI Bank Ltd. (successor to the United Asst. Commissioner of Western bank Ltd.) Income Tax (LTU), 22nd Floor, Taxation Cell, WTC Complex, Vs. IDBI Tower, WTC Complex, Cuffe Parade, Cuffe Parade, Mumbai -400 005 Mumbai-400 005 (Appellant) (Respondent) PAN NO.AABCI8842G (successor to AABCT0177D) Assessee by : Shri C Narseh, AR Revenue by : Shri Ajay Kumar/ Vivek Upadhay, DR Date of hearing: 12.01.2022 Date of pronouncement : 23.03.2022 O R D E R…

SH. SAMEER JAIN,CHANDIGARH vs. DCIT, CIRCLE, PANCHKULA

In the result, the appeal of the assessee is allowed

ITA 3/CHANDI/2022[2019-20]Status: DisposedITAT Chandigarh11 Mar 2022AY 2019-20

Bench: Smt.Diva Singh & Shri Vikram Singh Yadavsameer Jain, बनाम Assistant Director Of Income C/O Rajiv Goel & Associates, Tax, 1St Floor, Sco 823-824, Central Processing Centre (Cpc), Bengaluru. Sector 22A, Chandigarh "थायी लेखा सं./Pan No: Abnpj6236B

For Appellant: Shri Dhruv Goel, CAFor Respondent: Dr.Ranjeet Kaur, Sr.DR
Section 139(1)Section 143(1)Section 250Section 250(6)Section 36(1)(va)Section 43B

…tted that the aforesaid decisions have since been followed by the Hon'ble Punjab & Haryana High Court in the case of CIT Vs. Mark Auto Industries Ltd., 358 ITR 3 A.Y.2019-20 43, CIT Vs. Kamal Family Trust (2013), 219 Taxman 81 and CIT Vs. Nuchem Limited, 59 Taxmann.com 455. It was submitted that the Ld.CIT(A) has relied upon the amendment brought in by the Finance Act, 2021 wherein Explanation-5 has been inserted. It was submitted that the said amendment has been inserted w.e.f. assessment year 2021-22 onwards and have to be read prospectively and not retrospectively and various Benches of the Tribunal has…

SH. PARAMJEET SINGH,BADDI vs. ITO, BADDI,

In the result, the appeal of the assessee is allowed

ITA 414/CHANDI/2021[2019-20]Status: DisposedITAT Chandigarh11 Mar 2022AY 2019-20

Bench: Smt.Diva Singh & Shri Vikram Singh Yadavparamjeet Singh, Vpo Manpura, बनाम Dcit, Cpc Banaglore/ Tehsil Baddi, Ito Baddi Solan, Hp. Baddi, Himachal Pradesh. "थायी लेखा सं./Pan No: Arbps0049P

For Appellant: Shri Ravinder Kumar Sharma, CAFor Respondent: Dr.Ranjeet Kaur, Sr.DR
Section 139(1)Section 143(1)Section 250Section 250(6)Section 36Section 36(1)(va)Section 43B

…as further submitted that the aforesaid decisions have since been followed by the Hon'ble Punjab & Haryana High Court in the case of CIT Vs. Mark Auto Industries Ltd., 358 ITR 43, CIT Vs. Kamal Family Trust (2013), 219 Taxman 81 and CIT Vs. Nuchem Limited, 59 Taxmann.com 455. It was submitted that the Ld.CIT(A) has relied upon the amendment brought in by the Finance Act, 2021 wherein Explanation-5 has been inserted. It was submitted that the said amendment has been inserted w.e.f. assessment year 2021-22 onwards and have to be read prospectively and not retrospectively and various Benches of the Tribunal has…

PCP INTERNATIONAL LTD.,CHANDIGARH vs. ACIT, CIRCLE 1(1), CHANDIGARH

In the result, the appeal of the assessee is allowed

ITA 411/CHANDI/2021[2018-19]Status: DisposedITAT Chandigarh11 Mar 2022AY 2018-19

Bench: Smt.Diva Singh & Shri Vikram Singh Yadavpcp International Ltd., बनाम Adit (Cpc), Sco 66, Sector 34A, Bengaluru. Chandigarh. "थायी लेखा सं./Pan No: Aaacp9910B

For Appellant: Shri Neeraj Jain, CAFor Respondent: Dr.Ranjeet Kaur, Sr.DR
Section 139(1)Section 143(1)Section 250Section 250(6)Section 36(1)(va)Section 43B

…as further submitted that the aforesaid decisions have since been followed by the Hon'ble Punjab & Haryana High Court in the case of CIT Vs. Mark Auto Industries Ltd., 358 ITR 43, CIT Vs. Kamal Family Trust (2013), 219 Taxman 81 and CIT Vs. Nuchem Limited, 59 Taxmann.com 455. It was submitted that the Ld.CIT(A) has relied upon the amendment brought in by the Finance Act, 2021 wherein Explanation-5 has been inserted. It was submitted that the said amendment has been inserted w.e.f. assessment year 2021-22 onwards and have to be read prospectively and not retrospectively and various Benches of the Tribunal has…

SINGHANIA INTERNATIONAL LIMITED,LUDHIANA vs. CIT -II, CIRCLE -IV(1), LUDHIANA

In the result, the appeal of the assessee is allowed

ITA 416/CHANDI/2021[2018-19]Status: DisposedITAT Chandigarh09 Mar 2022AY 2018-19

Bench: Smt.Diva Singh & Shri Vikram Singh Yadavsinghania International Limited, बनाम Commissioner Of Income Vishwakarma Street, Tax-Ii, Circle-Iv(1), Ludhiana. Gill Road, Ludhiana. "थायी लेखा सं./Pan No: Aadcs5639R

For Appellant: Shri Navneet Sehgal, CAFor Respondent: Dr.Ranjeet Kaur, Sr.DR
Section 139(1)Section 143(1)Section 250Section 250(6)Section 36(1)(va)Section 43B

…ted that the aforesaid decisions have since been followed by the Hon'ble Punjab & Haryana High Court in the case of CIT Vs. Mark Auto Industries Ltd., 358 ITR 3 A.Y.2018-190 43, CIT Vs. Kamal Family Trust (2013), 219 Taxman 81 and CIT Vs. Nuchem Limited, 59 Taxmann.com 455. It was submitted that the Ld.CIT(A) has relied upon the amendment brought in by the Finance Act, 2021 wherein Explanation-5 has been inserted. It was submitted that the said amendment has been inserted w.e.f. assessment year 2021-22 onwards and have to be read prospectively and not retrospectively and various Benches of the Tribunal has…

VAAHO AGENCIES PRIVATE LIMITED ,AMRITSAR vs. INCOME TAX OFFICER WARD -1 ( 1 ) , AMRITSAR

In the result, the appeal of the assessee related all grounds of ITA No

ITA 30/ASR/2022[2019-20]Status: DisposedITAT Amritsar02 Mar 2022AY 2019-20

Bench: Dr. M. L. Meenash. Anikesh Banerjee

For Appellant: Sh. Jatinder Arora (CA)For Respondent: Sh. Satbir Singh, Sr. DR
Section 139(1)Section 143(1)Section 2(24)(x)Section 36(1)(va)Section 43B

…IN THE INCOME TAX APPELLATE TRIBUNAL AMRITSAR BENCH, AMRITSAR BEFORE DR. M. L. MEENA, ACCOUNTANT MEMBER SH. ANIKESH BANERJEE, JUDICIAL MEMBER I.T.A. No. 30/Asr/2022 Assessment Year: 2019-20 Vaaho Agencies Pvt Ltd Vs. Income Tax Officer Dilawari Street, Putlighar, Ward-1(1), Amritsar Amritsar, Punjab [PAN: AABCV3682R] (Appellant) (Respondent) Appellant by : Sh. Jatinder Arora (CA) Respondent by: Sh. Satbir Singh, Sr. DR Date of Hearing: 23.02.2022 Date of Pronouncement: 02.03.2022 ORDER Per Anikesh Banerjee, JM: 1. The aforesaid appeals have been filed by the assessees against the order which were…

M/S DEEP NURSING HOME & CHILDREN HOSPITAL,LUDHIANA vs. THE DCIT, LUDHIANA

In the result, the appeal of the assessee is allowed

ITA 353/CHANDI/2021[2018-19]Status: DisposedITAT Chandigarh02 Mar 2022AY 2018-19

Bench: Smt.Diva Singh & Shri Vikram Singh Yadavm/S Deep Nursing Home & Deputy Commissioner Of बनाम Children Hospital, Income Tax, 481, Model Town, Circle-6, Ludhiana Ludhiana. (Dcit, Cpc, Bangalore "थायी लेखा सं./Pan No: Aaafd6348Q

For Appellant: Shri Ashwani Kumar, CA &For Respondent: Smt Priyanka Dhar, Sr.DR
Section 139(1)Section 143(1)Section 250Section 250(6)Section 36(1)(va)Section 43B

…tted that the aforesaid decisions have since been followed by the Hon'ble Punjab & Haryana High Court 3 A.Y.2018-19 in the case of CIT Vs. Mark Auto Industries Ltd., 358 ITR 43, CIT Vs. Kamal Family Trust (2013), 219 Taxman 81 and CIT Vs. Nuchem Limited, 59 Taxmann.com 455. It was submitted that the Ld.CIT(A) has relied upon the amendment brought in by the Finance Act, 2021 wherein Explanation-5 has been inserted. It was submitted that the said amendment has been inserted w.e.f. assessment year 2021-22 onwards and have to be read prospectively and not retrospectively and various Benches of the Tribunal has…

SH. ARJUN YADAV,LUDHIANA vs. DCIT, LUDHIANA

In the result, the appeal of the assessee is allowed

ITA 351/CHANDI/2021[2018-19]Status: DisposedITAT Chandigarh01 Mar 2022AY 2018-19

Bench: Smt.Diva Singh & Shri Vikram Singh Yadavarjun Yadav Deputy Commissioner Of बनाम Prop. Arjun Yadav & Company, Income Tax, Cpc, R-175, New Grain Market, Bangalore Through Ito, Salem Tabri, Ward 3(1), Ludhiana.. Ludhiana. "थायी लेखा सं./Pan No: Aatpy0543P

For Appellant: Shri Subhash Jain, CAFor Respondent: Smt.Priyanka Dhar, Sr.DR
Section 139(1)Section 143(1)Section 250Section 250(6)Section 36(1)(va)Section 43B

…tted that the aforesaid decisions have since been followed by the Hon'ble Punjab & Haryana High Court 3 A.Y.2018-19 in the case of CIT Vs. Mark Auto Industries Ltd., 358 ITR 43, CIT Vs. Kamal Family Trust (2013), 219 Taxman 81 and CIT Vs. Nuchem Limited, 59 Taxmann.com 455. It was submitted that the Ld.CIT(A) has relied upon the amendment brought in by the Finance Act, 2021 wherein Explanation-5 has been inserted. It was submitted that the said amendment has been inserted w.e.f. assessment year 2021-22 onwards and have to be read prospectively and not retrospectively and various Benches of the Tribunal has…

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CIT Vs. Mark Auto Industries Ltd., 358 ITR 43, CIT v. Kamal Family Trust (59 Taxmann.com 455) — Cited in 27 Judgments | BharatTax