KHALSA BAKERY ,KAPUTHALA vs. INCOME TAX OFFICER WARD -4 (2), JALANDHAR

In the result, the disallowances confirmed by the NFAC/CIT(A) related to ITA No

Bench: Sh. N. K. Saini & Sh. Anikesh Banerjee

iii) Hon’ble Delhi Court in case of Bharat Hotels Ltd. 410 ITR 417 (Del.) (iv) Hon’ble Gujarat State Road Transport Corporation 366 ITR 170 (Gujarat)held that where assessee did not deposit employees contribution in relevant fund before the due date prescribed in Explanation to Section 36(1)(va), no deduction would be admissible even though he deposits

ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE- 3, SRINAGAR vs. MEASAGE SAIFCO CEEMENTS PRIVATE LIMITED, SRINAGAR

In the result, the appeal of the Department and CO of the Assesse is 23

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

disallowance of interest u/s 36(i)(iii) of the Income-tax Act, 1961 on account of interest bearing funds were being advanced to the sister concern. The following glaring facts pointed out by the Ld. DR renders the impugned order perverse to the facts on record: 1. That the assessee company had voluntarily surrendered the interest on bank borrowing debited

INCOME TAX OFFICER, WARD-2 , PHAGWARA vs. SH. SUCHA SINGH, PHILLAUR

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

Bench: Shrilaliet Kumar & Dr. Mitha Lal Meena

disallowed by the competent authority. 4. At Para-4, page-56 it is written that "And whereas in pursuance of section 3D(1) of the said act, the competent authority had submitted its report to the Central Govt." 5. And in the last Para at page 56 of gazette, it is mentioned that as per section 3D(2

M/S. KARNAIL SINGH & COMPANY ,JALANDHAR vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-3, JALANDHAR

In the result, both the appeals filed by the assessee are dismissed

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

iii. The limit for deposit of employee’s contribution under the relevant acts/regulations are follows: A. EPF Scheme Chapter VI: Declaration, Contribution Cards, and Returns 38. Mode of payment of contributions 6 I.T.A. Nos. 25 & 26/Asr/2023 Karnail Singh v. Dy. CIT “(1) The employer shall, before paying the member his wages in respect of any period or part of period

M/S. KARNAIL SINGH & COMPANY,JALANDHAR vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-3, JALANDHAR

In the result, both the appeals filed by the assessee are dismissed

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

iii. The limit for deposit of employee’s contribution under the relevant acts/regulations are follows: A. EPF Scheme Chapter VI: Declaration, Contribution Cards, and Returns 38. Mode of payment of contributions 6 I.T.A. Nos. 25 & 26/Asr/2023 Karnail Singh v. Dy. CIT “(1) The employer shall, before paying the member his wages in respect of any period or part of period

KAY SWITCGEARS INDIA PRIVATE LIMITED,KAPURTHALA vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-4, JALANDHAR

In the result, the appeal of the assessee bearing ITA 192/Asr/2022 is

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjeei.T.A. No.23/Asr/2023 Assessment Year: 2019-20 Ess Ess Kay Engineering Co. Vs. Nfac, Delhi/C/O Asstt. Pvt. Ltd. Factory Area, Commissioner Of Income Jalandhar. Tax Circle-4, Jalandhar. [Pan: Aaace5057G] (Respondent) (Appellant)

14 years. By the amendment of 2003, the second proviso was deleted. This court interpreted the law, in the light of these developments, in Alom Extrusions. The court considered the effect of omission of the second proviso, and observed as follows: "10. "Income" has been defined under section 2(24) of the Act to include profits and gains. Under Section

ESS ESS KAY ENGINEERING COMPAY PRIVATE LIMITED ,KAPURTHALA vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-4, JALANDHAR

In the result, the appeal of the assessee bearing ITA 192/Asr/2022 is

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjeei.T.A. No.23/Asr/2023 Assessment Year: 2019-20 Ess Ess Kay Engineering Co. Vs. Nfac, Delhi/C/O Asstt. Pvt. Ltd. Factory Area, Commissioner Of Income Jalandhar. Tax Circle-4, Jalandhar. [Pan: Aaace5057G] (Respondent) (Appellant)

14 years. By the amendment of 2003, the second proviso was deleted. This court interpreted the law, in the light of these developments, in Alom Extrusions. The court considered the effect of omission of the second proviso, and observed as follows: "10. "Income" has been defined under section 2(24) of the Act to include profits and gains. Under Section

M. K HOTEL & RESORTS LIMITED,AMRITSAR vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1, AMRITSAR

In the result, the appeal of the assessee bearing ITA 192/Asr/2022 is

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjeei.T.A. No.23/Asr/2023 Assessment Year: 2019-20 Ess Ess Kay Engineering Co. Vs. Nfac, Delhi/C/O Asstt. Pvt. Ltd. Factory Area, Commissioner Of Income Jalandhar. Tax Circle-4, Jalandhar. [Pan: Aaace5057G] (Respondent) (Appellant)

14 years. By the amendment of 2003, the second proviso was deleted. This court interpreted the law, in the light of these developments, in Alom Extrusions. The court considered the effect of omission of the second proviso, and observed as follows: "10. "Income" has been defined under section 2(24) of the Act to include profits and gains. Under Section

MESERS BRIGHT ENTERPRISES PVT.LTD,JALANDHAR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-II, JALANDHAR

In the result, both the Appeals are partly allowed

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

14 and 2014-15 for the following grounds:- Grounds in ITA no 65/2017 1. That the Ld. CIT(A) has erred in partly confirming the disallowance of professional expenses u/s 40A(2)(b) of the Income Tax Act, 1961 ("the Act") ITA Nos. 65/Asr/2017 2 & 169/Asr/2018 on estimation basis @ 20% being Rs. 12,08,496/- out of the total expenditure

BRIGHT ENTERPRISES PVT. LTD,JALANDHAR vs. THE DY COMMISSIONER OF INCOME TAX, JALANDHAR

In the result, both the Appeals are partly allowed

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

14 and 2014-15 for the following grounds:- Grounds in ITA no 65/2017 1. That the Ld. CIT(A) has erred in partly confirming the disallowance of professional expenses u/s 40A(2)(b) of the Income Tax Act, 1961 ("the Act") ITA Nos. 65/Asr/2017 2 & 169/Asr/2018 on estimation basis @ 20% being Rs. 12,08,496/- out of the total expenditure

M/S BELTEX RUBBER INDIA,JALANDHAR vs. INCOME TAX OFFICER WARD- 1 (1), JALANDHAR

In the result, the appeal of the assessee bearing ITA 192/Asr/2022 is dismissed

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

disallowed under section 43-B which, as stated above, was inserted with effect from 1-4-1984 ** ** ** 22. It is important to note once again that, by the Finance Act, 2003, not only is the second proviso deleted but even the first proviso is sought to be amended by bringing about a uniformity in tax, duty, cess

M/S BELTEX RUBBER INDIA,JALANDHAR vs. INCOME TAX OFFICER WARD - 1 (1) , JALANDHAR

In the result, the appeal of the assessee bearing ITA 192/Asr/2022 is dismissed

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

disallowed under section 43-B which, as stated above, was inserted with effect from 1-4-1984 ** ** ** 22. It is important to note once again that, by the Finance Act, 2003, not only is the second proviso deleted but even the first proviso is sought to be amended by bringing about a uniformity in tax, duty, cess

THE NBI EMPLOYEES CO-OP NON-AGRICULTURAL THRIFT & CREDIT SOCIETY LIMITED ,JALANDHAR vs. PRINCIPAL COMMISIONER OF INCOME TAX-2, JALANDHAR

Bench: Sh. Ravish Sood & Dr. M. L. Meena

disallowance w.r.t. deduction claimed u/s 80P of the Income Tax Act, 1961 which was required to be added to its income as rightly observed by the Ld. Pr. CIT. As per provisions of section 80P(2)(d) of the Income Tax Act, 1961, the Co¬ operative Society is provided deduction under said section in respect of income

NAVODIA TIMES PRIVATE LIMITED ,JALANDHAR vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1, JALANDHAR

In the result, the appeal of the assessee bearing ITA 192/Asr/2022 is

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

14 Assessment Year: 2018-19 computing the business income of the previous year? That was a case which related to Assessment Year 1984-1985. The relevant accounting period ended on 30-6-1983. The Income-tax Officer disallowed the deduction claimed by the assessee which was on account of sales tax collected by the assessee for the last quarter

SHRI SACHIN KAPUR,JALANDHAR vs. INCOME TAX OFFICER WARD 3 (2), JALANDHAR

In the result, ITA No. 261/Asr/2022 is dismissed and ITA No

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

iii) in respect of a deduction, where such deduction exceeds specified statutory limit which may have been expressed as monetary amount or percentage or ratio or fraction;' 9.3. Now we focus on clause (iv) of section 143(1)(a) which provides for 'disallowance of expenditure or increase in income indicated in the audit report but not taken into account

M/S. RAMCO ENGG WORKS ,JALANDHAR vs. INCOME TAX OFFICER WARD- 1 (1), JALANDHAR

In the result, ITA No. 261/Asr/2022 is dismissed and ITA No

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

iii) in respect of a deduction, where such deduction exceeds specified statutory limit which may have been expressed as monetary amount or percentage or ratio or fraction;' 9.3. Now we focus on clause (iv) of section 143(1)(a) which provides for 'disallowance of expenditure or increase in income indicated in the audit report but not taken into account

MAX FINANCIAL SERVICE LIMITED ,NAWANSHAHR vs. PRINCIPAL COMMISSIONER OF INCOME TAX -1, JALANDHAR

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

section 263 ,as stated above, have still to be fulfilled for applying the explanation. The case laws holding so, as pointed out by the Ld.Counsel for the assessee are as under: i. Torrent Pharmaceuticals Ltd. Vs. DCIT, ITA No.164/Ahd/2018, decision dated 08.08.2018. ii. Asian Homes Pvt. Ltd. Vs. PCIT (2012) 78 ITR (Trib) 240 (Mumbai). iii. Citystar Ganguly Projects

ROYAL FURNISHER ,JAMMU vs. ASSESING OFFICER WARD- 2 (2), JAMMU

In the result appeal of the assessee bearing ITA No

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

disallowed under section 43-B which, as stated above, was inserted with effect from 1-4-1984 ** ** ** 22. It is important to note once again that, by the Finance Act, 2003, not only is the second proviso deleted but even the first proviso is sought to be amended by bringing about a uniformity in tax, duty, cess