THE ASSTT. COMMISSIONER OF INCOME-TAX, SRINAGAR vs. M/S. J&K PROJECT CONSTRUCTION, SRINAGAR

In the result, as I am in concurrence with conclusion and reasoning given in rest part of the order dated 12

Bench: Sh. Sanjay Arora & Sh. N. K. Choudhryi.T.A. Nos. 100 & 101/Asr/2014 Assessment Years: 2007-08 & 2009-10

7 for both the years is in respect of confirmation of addition in respect of interest on FDRs, worked at Rs.256.62 lacs and Rs.432.72 lacs for the (AYs 2007-08 & 2009-10) Jammu and Kashmir Projects Construction Corporation Ltd. v. AO two successive years respectively. The assessee admittedly following mercantile method of accounting, which it, being a corporate entity

THE ASSTT. COMMISSIONER OF INCOME-TAX, SRINAGAR vs. M/S. J&K PROJECT CONSTRUCTION, SRINAGAR

In the result, as I am in concurrence with conclusion and reasoning given in rest part of the order dated 12

Bench: Sh. Sanjay Arora & Sh. N. K. Choudhryi.T.A. Nos. 100 & 101/Asr/2014 Assessment Years: 2007-08 & 2009-10

7 for both the years is in respect of confirmation of addition in respect of interest on FDRs, worked at Rs.256.62 lacs and Rs.432.72 lacs for the (AYs 2007-08 & 2009-10) Jammu and Kashmir Projects Construction Corporation Ltd. v. AO two successive years respectively. The assessee admittedly following mercantile method of accounting, which it, being a corporate entity

M/S. JAMMU & KASHMIR PROJECTS CONSTRUCTION,JAMMU vs. THE ASSESSING OFFICER,, SRINAGAR

In the result, as I am in concurrence with conclusion and reasoning given in rest part of the order dated 12

Bench: Sh. Sanjay Arora & Sh. N. K. Choudhryi.T.A. Nos. 100 & 101/Asr/2014 Assessment Years: 2007-08 & 2009-10

7 for both the years is in respect of confirmation of addition in respect of interest on FDRs, worked at Rs.256.62 lacs and Rs.432.72 lacs for the (AYs 2007-08 & 2009-10) Jammu and Kashmir Projects Construction Corporation Ltd. v. AO two successive years respectively. The assessee admittedly following mercantile method of accounting, which it, being a corporate entity

M/S. JAMMU & KASHMIR PROJECTS CONSTRUCTION,JAMMU & KASHMIR vs. THE ASSESSING OFFICER,, SRINAGAR

In the result, as I am in concurrence with conclusion and reasoning given in rest part of the order dated 12

Bench: Sh. Sanjay Arora & Sh. N. K. Choudhryi.T.A. Nos. 100 & 101/Asr/2014 Assessment Years: 2007-08 & 2009-10

7 for both the years is in respect of confirmation of addition in respect of interest on FDRs, worked at Rs.256.62 lacs and Rs.432.72 lacs for the (AYs 2007-08 & 2009-10) Jammu and Kashmir Projects Construction Corporation Ltd. v. AO two successive years respectively. The assessee admittedly following mercantile method of accounting, which it, being a corporate entity

THE DY. COMMISSIONER INCOME-TAX, JAMMU vs. M/S. THE JAMMU & KASHMIR BANK LTD,, SRINAGAR

The appeals are dismissed

Bench: Sh. T. S. Kapoor & Sh. N. K. Choudhryi.T.A. No. 298/(Asr)/2014 Assessment Year: 2009-10 Pan: Aaact6167G Dy. C. I. T., Vs. M/S. The Jammu & Kashmir Circle-1, 2Nd Floor Aayakar Bank Ltd., Corporate Head Bhawan, Railhead Complex, Quarters, M. A. Road, Jammu. Srinagar. (Appellant) (Respondent)

7 are dismissed. Ground no. 8 relates to disallowance u/s 40a(ia) on account of short deduction of TDS. This issue is also covered in favour of assessee in ITA No. 74,76 & 137/Asr/2015. The relevant findings of the Hon'ble Tribunal in its order dated 28.02.2017 are reproduced below: “11. Ground No. 4 pertains to addition u/s.40

INCOME-TAX OFFICER, BATHINDA vs. SH. MOHAN LAL, BATHINDA

Bench: Sh. T. S. Kapoor & Sh. N. K. Choudhryi.T.A. No. 170/(Asr)/2015 Assessment Year: 2011-12 Pan: Aajpl8560B Income Tax Officer, Vs. Sh. Mohan Lal Prop. Ward-1(2), Bathinda. M/S Ramji Dass Bko, Vill. Bhagiwander, Tehsil Talwandi Sabo, Distt. Bathinda. (Appellant) (Respondent)

40a(ia) of the Act. Before the Ld. CIT(A) detailed submissions were made and Ld. CIT(A) deleted the additions by holding as under: “10. The issue in dispute has been considered. It is axiomatic that if “nikasi” is to be paid, chunai” and “keri” has to be paid of the purposes of bricks coming out of the kiln

SH. AMRINDER SINGH DHIMAN,NAKODAR vs. ADDITIONAL COMMISSIONER OF INCOME TAX, RANGE PHAGWARA, PHAGWARA

In the result, the appeal of the assessee is partly allowed

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

Section 40a(ia) states that any amount on which tax is deductible at source and such tax has not been deducted or after deduction has not been paid then such sum shall not be deducted in computing the income chargeable under the head 'profits of business or profession'. d. In the present case, TDS was to be deducted

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-IV,, PATHANKOT vs. THE GURDASPUR CENTRAL CO. OPBANK LTD, GURDASPUR

In the result, the ground no

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

TDS are not attracted on the supply of pamphlets, banners and other stationery items to the assessee as the same does not fall in the definition of “work” by virtue of sub clause (e) of clause (iv) of the explanation of section 194C. The disallowance of Rs 34,90,828/- u/s 40a(ia) is therefore deleted.” The ld. Counsel further

THE DY. COMMISSIONER OF INCOME-TAX,, JAMMU vs. M/S. CONTINENTAL CONSTRUCTION CO,, JAMMU ( J&K)

In the result, the appeal filed by the assessee is allowed as well as the appeal filed the Revenue Department is dismissed and Cross Objection also stands disposed off

Bench: Sh. Sanjay Arora & Sh. N.K.Choudhryita No.38(Asr)/2013 Assessment Year:2009-10

40A(3) and 40(a)(ia) of the Act respectively. Recently, the ITAT Amritsar Bench, at Amritsar, in the case of ITO v. Nikhil Infra-Tech Ltd. in ITA No.272(Asr)/2017, in the similar and identical circumstances estimated the Net profit rate @ 5% of the turn over and further affirmed the deletion of disallowance on account of depreciation

M/S. CONTINENTAL CONSTRUCTION CO.,,JAMMU vs. THE DY. COMMISSIONER OF INCOME-TAX (HQRS), JAMMU

In the result, the appeal filed by the assessee is allowed as well as the appeal filed the Revenue Department is dismissed and Cross Objection also stands disposed off

Bench: Sh. Sanjay Arora & Sh. N.K.Choudhryita No.38(Asr)/2013 Assessment Year:2009-10

40A(3) and 40(a)(ia) of the Act respectively. Recently, the ITAT Amritsar Bench, at Amritsar, in the case of ITO v. Nikhil Infra-Tech Ltd. in ITA No.272(Asr)/2017, in the similar and identical circumstances estimated the Net profit rate @ 5% of the turn over and further affirmed the deletion of disallowance on account of depreciation