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7 results for “capital gains”+ Permanent Establishmentclear

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Key Topics

Section 35A20Section 143(3)17Section 26313Section 115B12Section 685Section 2(22)(e)4Addition to Income4Section 69C3Section 2502

SMT. INDERMEET BAINS W/O SH. D.S. BAINS,BATHINDA vs. PR. COMMISSIONER OF INCOME TAX , BATHINDA

The appeal of the assessee is disposed of in the term indicated as above

ITA 250/ASR/2019[2011-12]Status: DisposedITAT Amritsar19 Oct 2022AY 2011-12

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

For Appellant: Sh. Sudhir Sehgal & Sh. P.N. Arora, AdvFor Respondent: Sh. Amlendu Nath Misra, CIT DR
Section 143(3)Section 263

permanent or If temporary nature? (vii) Whether the land, though entered in No,it is used for agricultural revenue records, had never been purpose. actually used for agriculture, that is, it had never been ploughed or tilled? 24 Indermeet Bains v. Pr. CIT Whether the owner meant or intended to use it for agricultural purposes? (viii) Whether the land

M/S G G OILS & FATS PVT.LTD ,BATHINDA vs. DEPUTY COMMISSIONER OF INCOME TAX, BATHINDA

In the result, the assessee’s appeal is dismissed

House Property2
Deduction2
Set Off of Losses2
ITA 508/ASR/2017[2014-15]Status: DisposedITAT Amritsar05 Jul 2019AY 2014-15

Bench: Sh. Sanjay Arora & Sh. N. K. Choudhryi. T. A. No. 508/Asr/2017 Assessment Year: 2014-15

For Appellant: Sh. P. N. Arora &For Respondent: Sh. Charan Dass (D.R.)
Section 143(3)Section 2(18)Section 2(22)(e)Section 56

gains’; to section 23A(1), providing an artificial dividend payout at a minimum of 60%, lest the shortfall therein be liable to super-tax, i.e., restraining the company from accumulating its’ profit beyond 40% to build up reserves or to provide for 25 G. G. Oils & Fats Pvt. Ltd. v. Dy. CIT capital expenditure

SH. DIDAR SINGH S/O SH. PREM SINGH,KAPURTHALA vs. THE DY. COMMISSIONER OF INCOME TAX, KAPURTHALA

In the result, the assessee succeeds

ITA 542/ASR/2016[2008-09]Status: DisposedITAT Amritsar29 May 2018AY 2008-09

Bench: Sh. Sanjay Arora & Sh. N.K.Choudhryita No.542(Asr)/2016 Assessment Year:2008-09

For Appellant: Sh. Harminder Syal (Ld. Adv.)For Respondent: Sh. Rajeev Gubgotra (Ld. DR)
Section 250(6)Section 44ASection 68

established principle of law that a party is entitled to show and prove that the admission made by him previously is in fact not correct and true. The Andhra Pradesh High Court in the case of Gajjam Chinna Yellappa and Ors. vs. ITO [2015] 370 ITR 671 (AP) held that “a retracted statement cannot constitute the sole basis of fastened

M/S. SATIA INDUSTRIES LIMITED,MUKTSAR vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1, BATHINDA

In the result, the appeal of the assessee bearing ITA No

ITA 193/ASR/2022[2018-19]Status: DisposedITAT Amritsar13 Jun 2023AY 2018-19

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

Section 115BSection 143(3)Section 144C(8)Section 250oSection 69C

gains from these REC/ESCs in India contain to right to transfer it. These credits have no other value. It must be emphasized if there is no carrying on of the business there are no RECs/ESCs The question of savings to emission arises only in to I.T.A. No.193/Asr/2022 23 Assessment Year: 2018-19 course of the business. The REC/ESCs

INCOME TAX OFFICER, WARD-3(1),FEROZEPUR, FEROZEPUR vs. MS.JATIN AGRO, FORT ROAD

In the result, the appeal of the revenue is dismissed

ITA 103/ASR/2024[2014-15]Status: DisposedITAT Amritsar15 Jan 2026AY 2014-15

Bench: Sh. Manoj Kumar Aggarwal & Sh. Udayan Dasgupta(Physical Hearing) I.T.A. No. 103 & 104/Asr/2024 Assessment Years: 2014-15 & 2017-18 Ito, Ward-3(1), Vs. M/S Jatin Agro Fort Road, Ferozepur. 152-P, Ferozepur. [Pan:-Aarpm5393F] (Appellant) (Respondent) Sh. Ashray Sarna, Ca Appellant By Respondent By Sh. Sunil Gautam, Cit. Dr

Section 143(3)Section 148Section 250Section 35A

establish warehouse for storage of agricultural produce, it clearly falls under section 2(13) of the Act, and hence, it has to be treated as business of the Appellant. I.T.A. No. 103 & 104/Asr/202 1 Assessment Years: 2014-15 and 2017-18 2 6.2. The AO has rejected the claim of deduction made under section 35AD

INCOME TAX OFFICER, FEROZEPUR vs. MS.JATIN AGRO, FORT ROAD

In the result, the appeal of the revenue is dismissed

ITA 104/ASR/2024[2017-18]Status: DisposedITAT Amritsar15 Jan 2026AY 2017-18

Bench: Sh. Manoj Kumar Aggarwal & Sh. Udayan Dasgupta(Physical Hearing) I.T.A. No. 103 & 104/Asr/2024 Assessment Years: 2014-15 & 2017-18 Ito, Ward-3(1), Vs. M/S Jatin Agro Fort Road, Ferozepur. 152-P, Ferozepur. [Pan:-Aarpm5393F] (Appellant) (Respondent) Sh. Ashray Sarna, Ca Appellant By Respondent By Sh. Sunil Gautam, Cit. Dr

Section 143(3)Section 148Section 250Section 35A

establish warehouse for storage of agricultural produce, it clearly falls under section 2(13) of the Act, and hence, it has to be treated as business of the Appellant. I.T.A. No. 103 & 104/Asr/202 1 Assessment Years: 2014-15 and 2017-18 2 6.2. The AO has rejected the claim of deduction made under section 35AD

M/S SANT BABA BHAG SINGH MEMORIAL CHARITABLE SOCIETY,JALANDHAR vs. D.C.I.T, CIRCLE - 1 (EXEMPTION), CHANDIGARH

In the result, the assessee’s appeal is partly allowed

ITA 432/ASR/2017[2014-15]Status: DisposedITAT Amritsar27 Feb 2019AY 2014-15

Bench: Sh. Sanjay Arora & Sh. N. K. Choudhryi.T.A. No. 432/(Asr)/2017 Assessment Year: 2014-15

For Appellant: Sh. J. S. Bhasin (Adv.)For Respondent: Sh. Sandeep Chauhan, CIT-DR
Section 115BSection 12ASection 133(6)Section 143(3)Section 68

Permanent Account Number (PAN), nor filing its return of income, either for the relevant year (or even earlier years)-facts emphasized by the AO as well as the ld. CIT(A) (refer para 6 and paras 5.4, 5.8 of the assessment and the appellate order respectively), could be relevant, i.e., considering the confirmation by Sant Dilawar Singh