SMT. SATYAWATI MARWAHA THROUGH LEGAL HEIR SH. CHANDER SHEIKHAR MARWAHA,JALANDHAR vs. ASSISTANT COMMISSIONER OF INCOME TAX, JALANDHAR

In the result, the appeal for Asstt

Bench: Sh. Manoj Kumar Aggarwal & Sh. Udayan Dasgupta

section is very wide, but at the same time it cannot be stated to be a plenary power. The AO can assume jurisdiction under the said provision provided there is sufficient material before him. He cannot act on the basis of his whim and fancy, and the existence of material must be real. Further, there must be nexus between

THE INCOME TAX OFFICER, AMRITSAR. vs. SH. SURJIT SINGH, AMRITSAR.

In the result, the appeal of revenue ITA No

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjeei.T.A. No.434/Asr/2016 Assessment Year: 2009-10

capital gain calculated by the revenue related to transaction amounting to Rs.85,90,000/-. The revenue claimed that both the amounts are not declared by the assessee in the total income during filing of return. Aggrieved assessee filed an appeal before the ld. CIT(A). The ld. CIT(A) dismissed the order of the ld. AO. Accordingly, the revenue being

THE INCOME TAX OFFICER, AMRITSAR. vs. SHRI BALJINDERR SINGH CHAHAL, AMRITSAR.

In the result, the appeal of revenue ITA No

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjeei.T.A. No.434/Asr/2016 Assessment Year: 2009-10

capital gain calculated by the revenue related to transaction amounting to Rs.85,90,000/-. The revenue claimed that both the amounts are not declared by the assessee in the total income during filing of return. Aggrieved assessee filed an appeal before the ld. CIT(A). The ld. CIT(A) dismissed the order of the ld. AO. Accordingly, the revenue being

THE ASSTT. COMMISSIONER OF INCOME TAX, JALANDHAR vs. M/S BROADWAY OVERSEAS LTD., JALANDHAR

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

90. This is the formula which has been provided by sub section (4) for the purpose of working out the benefit or deduction under sub section. (1). 4. Your Honour, Legislature has not provided for excluding the amount of export incentive from profits of the business while calculating deduction u/s 10B. The position is somewhat akin or close to Section

THE ASSTT. COMMISSIONER OF INCOME TAX, JALANDHAR vs. M/S BROADWAY OVERSEAS LTD., JALANDHAR

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

90. This is the formula which has been provided by sub section (4) for the purpose of working out the benefit or deduction under sub section. (1). 4. Your Honour, Legislature has not provided for excluding the amount of export incentive from profits of the business while calculating deduction u/s 10B. The position is somewhat akin or close to Section

THE ASSTT. COMMISSIONER OF INCOME TAX, JALANDHAR vs. M/S BROADWAY OVERSEAS LTD., JALANDHAR

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

90. This is the formula which has been provided by sub section (4) for the purpose of working out the benefit or deduction under sub section. (1). 4. Your Honour, Legislature has not provided for excluding the amount of export incentive from profits of the business while calculating deduction u/s 10B. The position is somewhat akin or close to Section

THE ASSISTANT COMMISSIONER OF INCOME TAX, JALANDHAR vs. M/S BROADWAYS OVERSEAS LTD, JALANDHAR

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

90. This is the formula which has been provided by sub section (4) for the purpose of working out the benefit or deduction under sub section. (1). 4. Your Honour, Legislature has not provided for excluding the amount of export incentive from profits of the business while calculating deduction u/s 10B. The position is somewhat akin or close to Section

THE ASSTT. COMMISSIONER OF INCOME TAX, JALANDHAR vs. M/S BROADWAY OVERSEAS LTD., JALANDHAR

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

90. This is the formula which has been provided by sub section (4) for the purpose of working out the benefit or deduction under sub section. (1). 4. Your Honour, Legislature has not provided for excluding the amount of export incentive from profits of the business while calculating deduction u/s 10B. The position is somewhat akin or close to Section

BRODAWAYS OVERSEAS LIMITED,JALANDHAR vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1, JALANDHAR

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

90. This is the formula which has been provided by sub section (4) for the purpose of working out the benefit or deduction under sub section. (1). 4. Your Honour, Legislature has not provided for excluding the amount of export incentive from profits of the business while calculating deduction u/s 10B. The position is somewhat akin or close to Section

THE ASSTT. COMMISSIONER OF INCOME TAX, JALANDHAR vs. M/S BROADWAYS OVERSEAS LTD, JALANDHAR

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

90. This is the formula which has been provided by sub section (4) for the purpose of working out the benefit or deduction under sub section. (1). 4. Your Honour, Legislature has not provided for excluding the amount of export incentive from profits of the business while calculating deduction u/s 10B. The position is somewhat akin or close to Section

SHRI GURBINDER SINGH MAHAL,AMRITSAR vs. INCOME TAX OFFICER WARD-IV ( 2), AMRITSAR

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

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

section 250(4)] through banks instead of disposing off the appeal for non-appearance without adjudicating on merits. 7. The appellant craves leave to add, amend, or alter any of the grounds of appeal.” I.T.A. No.22/Asr/2023 4 Assessment Year: 2014-15 2. The case was called for hearing, first, the ld. DR filed an adjournment petition before the bench

SHRI NITIN AIMA,SHRINAGAR vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-3, SRINAGAR

The appeal of the assessee is dismissed

90 CCH 562 [Delhi\nHigh Court]: The high court after considering the decision of Supreme\nCourt in the case of Liberty India approved the decision of ITAT Special\nBench in the case of Maral Overseas Ltd. vs. ACIT held that sub-section (4)\nof section 10B does not require the assessee to establish a direct nexus with\nbusiness

SATIA INDUSTRIES LIMITED,MUKTSAR, PUNJAB vs. DCIT, ACIT CIRCLE 1, BATHINDA

In the result, the appeal is partly allowed

Bench: Shri Udayan Das Gupta & Shri Krinwant Sahayआयकरअपीलसं./Ita No. 527/Asr/2024 िनधा"रणवष" / Assessment Year : 2020-21

90,275 from the assessee's reported value of Rs. 41,21,19^626. Ground No. 8 addresses the change in the transfer pricing method from the Transaction Net Margin Method (TNMM) to 527-Asr-2024 Satia Industries, Muktsar 9 the External Comparable Uncontrolled Price (CUP) method, which could affect the determination of the arm's length price and, consequently

SHRI MOHD MANZOOR,RAJOURI vs. INCOME TAX OFFICER WARD -2 (3), JAMMU

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

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

90,960/- . The profits earned pre demonetization period and post demonetization period is tabulated as under:- I.T.A. No.166/Asr/2022 12 Assessment Year: 2017-18 TABLE F Particulars Amount Profit @8% Sales Up to 08.11.2016 6510000 520800 Sale from 09.11.2016 to 31.03.2017 1390960 111277 Total 7900960 632077 7.7That the appellant is an individual and is engaged in running the business

THE DHAMAI COOPERATIVE AGRICULTURE SERVICE SOCIETY LIMITED,HOSHIARPUR vs. INCOME TAX OFFICER , HOSHIARPUR

In the result, the appeals filed by the appellant are allowed and the order(s) of the Kerala High Court and other authorities to the contrary are set aside

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjeei.T.A. No.273/Asr/2023 Assessment Year: 2017-18

90,919 on account of interest received from Nawanshahr Central Co-operative Bank without adjusting interest paid to the bank. Therefore, the reference is answered against the revenue, i.e., in the affirmative, and in favour of the assessee.” 7. We heard the rival submissions and perused the material available on record.Having discharge the matter in the issue of section

THE DHAMAI COOPERATIVE AGRICULTURE SERVICE SOCIETY LIMITED,HOSHIARPUR vs. INCOME TAX OFFICER WARD, HOSHIARPUR

In the result, appeal of the assessee ITA No

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjeei.T.A. No.238/Asr/2023 Assessment Year: 2020-21

90,919 on account of interest received from Nawanshahr Central Co-operative Bank without adjusting interest paid to the bank. Therefore, the reference is answered against the revenue, i.e., in the affirmative, and in favour of the assessee.” 7. We heard the rival submissions and perused the material available on record. Having discharge the matter in the issue of section

THE KOT RAM DASS COOP. THIRFT & CREDIT SOCIETY LIMITED,JALANDHAR vs. INCOME TAX OFFICER WARD-2 (4), JALANDHAR

In the result, appeal of the assessee ITA No

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjeei.T.A. No.86/Asr/2021 Assessment Year: 2017-18

90,919 on account of interest received from Nawanshahr Central Co- operative Bank without adjusting interest paid to the bank. Therefore, the reference is answered against the revenue, i.e., in the affirmative, and in favour of the assessee.” 7. We heard the rival submissions and perused the material available on record. Having discharge the matter in the issue of section

M/S GCA MARKETING PVT. LTD,BATHINDA vs. A.C.I.T , CIRCLE-1,, BATHINDA

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

section 148 of the I. T. Act. As such, assessment framed in response to such a notice is void abinitio. The same be cancelled". 2. The learned CIT(A) has erred in law as well as on the facts of the case in confirming the gross receipts of Rs. 39,03,62,282/- as income of the assessee company from

M/S CGA MARKETING PVT. LTD,BATHINDA vs. ASST. COMM. OF INCOME TAX, CIRCLE - 1, BATHINDA

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

section 148 of the I. T. Act. As such, assessment framed in response to such a notice is void abinitio. The same be cancelled". 2. The learned CIT(A) has erred in law as well as on the facts of the case in confirming the gross receipts of Rs. 39,03,62,282/- as income of the assessee company from