M/S ACTIVE TOOLS (P). LIMITED,JALANDHAR vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE -II, JALANDHAR

Bench: : Shri Laliet Kumar & Dr. Mitha Lal Meena

disallowing the special deduction was not valid." 9. The Hon,ble Chandigarh Tribunal in the case of Khushi Ram & Sons Pvt. Ltd. (supra) has decided similar issue wherein the assessee had surrendered an amount of Rs. 80 lacs during the course of survey on account of building renovation, office equipment and sundry receivables and claimed set off of unabsorbed losses

M/S F.C SONDHI & COMPANY (INDIA) PRIVATE LIMITED,JALANDHAR vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1, JALANDHAR

In the result, the assessee appeal is partly allowed and partly allowed for statistical purposes

Bench: Sh. Sanjay Arora & Sh. N. K. Choudhryi. T. A. No. 760/(Asr)/2017 Assessment Year: 2014-15

disallowance at 2.5% of the balance expenditure of Rs.17.53 lacs. We decide accordingly. 4. Vide the second ground, the assessee agitates the carry forward of brought forward capital loss

M/S JAMMU COOPERATIVE WHOLE SALE LIMITED,JAMMU vs. INCOME TAX OFFICER WARD-2 (1), JAMMU

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjeei.T.A. No. 150/Asr/2020 Assessment Year: 2005-06 M/S Jammu Cooperative Whole Sale The Ito Limited (Super Bazar) Old Hospital Ward-2(1) Road, City Chowk, Jammu- Jammu 180001(J&K)-180001

losses to be carried forward for adjustment against income of the assessment year under consideration are rejected. 7. The next grievance of the assesse is that the Ld. CIT(A)/NFAC, Delhi erred in confirming the addition of Rs. 27,500/- under section 40A(3) of the Act, against the provisions of law. 71. The Ld. CIT(A)/NFAC, Delhi

SMT. AVTAR KAUR,JALANDHAR vs. ASSTT. COMMISSIONER OF INCOME TAX, CIRCLE - II, JALANDHAR

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

Bench: Sh. Sanjay Arora & Sh. N. K. Choudhryi. T. A. No. 216/(Asr)/2017 Assessment Year: 2013-14

forward (from the preceding year) stock for Rs. 5.55 lacs, incurring thus a loss of Rs. 39.33 lacs, the Revenue has assessed it at a profit of Rs. 4.99 lacs. The assessee’s, admittedly not maintaining any stock register, case is that of the opening stock of Rs. 171.06 lacs, that for Rs. 126.18 lacs was returned back

SHRI BALDEV SINGH ,ABOHAR vs. INCOME TAX OFFICER WARD- 3 (2), FEROZEPUR

In the result, the appeal bearing ITA No

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

loss carried forward deduction, allowance or relief claimed in the return, which of the information available in such return account or documents is prima facie inadmissible, shall be disallowed

SHRI NAVAL KISHORE SINGH,JAMMU vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1, JAMMU

In the result, the ground of appeal No

Bench: Dr. M. L. Meena & Sh. Udayan Dasgupta

carry forward amount of previous year does not become an investment or cash generated during the relevant year, we have no hesitation in deleting the addition of Rs. 1.94 crores made on A/c of brought forward capital from previous year. 25. As such this ground of appeal of the assessee is allowed. 26. Regarding Ground No 3 which

MESERS P.D SEKHSARIA TRADING COMPANY ,BATHINDA vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1, BATHINDA

In the result, the appeal of the assessee is allowed and the Stay Petition of the assessee is dismissed

Bench: Sh. N. S. Saini & Sh. N. K. Choudhryita No. 331/Asr./2018 : Asstt. Year : 2014-15 M/S P. D. Sekhsaria Trading Vs Dy. Commissioner Of Income Company Pvt. Ltd., 4242, Tax, Circle-I, Ground Floor, Gurudwara Singh Bathinda, Punjab Sabha Street, Bathinda, Punjab (Appellant) (Respondent) Pan No. Aabcp1720E Sa No. 03/Asr./2019 (In Ita No. 331/Asr./2018: Asstt. Year : 2014-15) M/S P. D. Sekhsaria Trading Vs Dy. Commissioner Of Income Company Pvt. Ltd., 4242, Tax, Circle-I, Ground Floor, Gurudwara Singh Bathinda, Punjab Sabha Street, Bathinda, Punjab (Appellant) (Respondent) Pan No. Aabcp1720E Assessee By : Shri. Salil Kapoor, Adv. & Shri. Sanat Kapoor, Adv. Revenue By : Shri. M. P. Singh, Cit Dr Date Of Hearing :20.02.2019 Date Of Pronouncement : 19.03.2019 Order Per N. S. Saini: This Is An Appeal Filed By The Assessee Against The Order Of Cit(A), Bathinda Dated 26.03.2018. 2. The Assessee Has Raised Following Grounds Of Appeal: “1. That On The Facts & Circumstances Of The Case The Addition/Disallowance Of Rs.4,69,47,808/- Made

disallowance of loss from commodity derivatives in the returned income at the time of conducting tax audit u/s.44AB does not arise since the loss was genuinely an allowable business loss. 50. We have heard the rival submissions and perused the orders of the lower authorities and materials available on record. In the instant case, the undisputed facts are that

MEASAGE GURU NANAK MILK PRODUCTS ,FEROZEPURCANTT vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE - 1, JALANDHAR

In the result, the particular issue u/s 153C of the Act related in ITA

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

loss carried forward, deduction allowance or relief, which was prima facie admissible on the basis of information I.T.A. Nos. 436 & 437/Asr/2018 25 & Others Group of cases available in the return but not claimed in the return and similarly (iii) those claims which were on the basis of the information available in the return, prima facie inadmissible, were to be rectified/allowed/disallowed

MEASAGE GURU NANAK MILK PRODUCTS ,FEROZEPUR CANTT vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1, JALANDHAR

In the result, the particular issue u/s 153C of the Act related in ITA

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

loss carried forward, deduction allowance or relief, which was prima facie admissible on the basis of information I.T.A. Nos. 436 & 437/Asr/2018 25 & Others Group of cases available in the return but not claimed in the return and similarly (iii) those claims which were on the basis of the information available in the return, prima facie inadmissible, were to be rectified/allowed/disallowed

MEASAGE GURU NANAK MILK PRODUCTS,FEROZEPUR CANTT vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1, JALANDHAR

In the result, the particular issue u/s 153C of the Act related in ITA

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

loss carried forward, deduction allowance or relief, which was prima facie admissible on the basis of information I.T.A. Nos. 436 & 437/Asr/2018 25 & Others Group of cases available in the return but not claimed in the return and similarly (iii) those claims which were on the basis of the information available in the return, prima facie inadmissible, were to be rectified/allowed/disallowed

M/S. PINKU BATRA ,JALANDHAR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-II, JALANDHAR

In the result, the particular issue u/s 153C of the Act related in ITA

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

loss carried forward, deduction allowance or relief, which was prima facie admissible on the basis of information I.T.A. Nos. 436 & 437/Asr/2018 25 & Others Group of cases available in the return but not claimed in the return and similarly (iii) those claims which were on the basis of the information available in the return, prima facie inadmissible, were to be rectified/allowed/disallowed

SMT.ADEEKSHA NARULA,AMRITASR vs. DY.COMMISSIONER OF INCOME TAX , AMRITSAR

In the result, the particular issue u/s 153C of the Act related in ITA

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

loss carried forward, deduction allowance or relief, which was prima facie admissible on the basis of information I.T.A. Nos. 436 & 437/Asr/2018 25 & Others Group of cases available in the return but not claimed in the return and similarly (iii) those claims which were on the basis of the information available in the return, prima facie inadmissible, were to be rectified/allowed/disallowed

SHRI RAVI NARULA ,FEROZE PUR vs. DEPUTY COMMISSIONER OF INCOME TAX CENTER CIRCLE , AMRITSAR

In the result, the particular issue u/s 153C of the Act related in ITA

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

loss carried forward, deduction allowance or relief, which was prima facie admissible on the basis of information I.T.A. Nos. 436 & 437/Asr/2018 25 & Others Group of cases available in the return but not claimed in the return and similarly (iii) those claims which were on the basis of the information available in the return, prima facie inadmissible, were to be rectified/allowed/disallowed

M/S. PINKU BATRA ,JALANDHAR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-II, JALANDHAR

In the result, the particular issue u/s 153C of the Act related in ITA

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

loss carried forward, deduction allowance or relief, which was prima facie admissible on the basis of information I.T.A. Nos. 436 & 437/Asr/2018 25 & Others Group of cases available in the return but not claimed in the return and similarly (iii) those claims which were on the basis of the information available in the return, prima facie inadmissible, were to be rectified/allowed/disallowed

SHRI KASHMIRA SINGH,FEROZEPUR vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1, JALANDHAR

In the result, the particular issue u/s 153C of the Act related in ITA

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

loss carried forward, deduction allowance or relief, which was prima facie admissible on the basis of information I.T.A. Nos. 436 & 437/Asr/2018 25 & Others Group of cases available in the return but not claimed in the return and similarly (iii) those claims which were on the basis of the information available in the return, prima facie inadmissible, were to be rectified/allowed/disallowed

SHRI RAVI NARULA ,FEROZPUR vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE , AMRITSAR

In the result, the particular issue u/s 153C of the Act related in ITA

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

loss carried forward, deduction allowance or relief, which was prima facie admissible on the basis of information I.T.A. Nos. 436 & 437/Asr/2018 25 & Others Group of cases available in the return but not claimed in the return and similarly (iii) those claims which were on the basis of the information available in the return, prima facie inadmissible, were to be rectified/allowed/disallowed

SHRI. RAHUL MITTAL,FEROZEPUR CANTT vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1, JALANDHAR

In the result, the particular issue u/s 153C of the Act related in ITA

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

loss carried forward, deduction allowance or relief, which was prima facie admissible on the basis of information I.T.A. Nos. 436 & 437/Asr/2018 25 & Others Group of cases available in the return but not claimed in the return and similarly (iii) those claims which were on the basis of the information available in the return, prima facie inadmissible, were to be rectified/allowed/disallowed

SHRI ARUN NARULA,AMRITAR vs. DEPUTY COMMISSIONER OF INCOME TAX,CENTRAL CIRCLE, AMRITSAR

In the result, the particular issue u/s 153C of the Act related in ITA

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

loss carried forward, deduction allowance or relief, which was prima facie admissible on the basis of information I.T.A. Nos. 436 & 437/Asr/2018 25 & Others Group of cases available in the return but not claimed in the return and similarly (iii) those claims which were on the basis of the information available in the return, prima facie inadmissible, were to be rectified/allowed/disallowed