J.M.C PLYWOOD,GORAYA vs. INCOME TAX OFFICER WARD-3, PHAGWARA

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

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

7………………. Therefore, section 43B(a), the first proviso to section 43B and Explanation 2 have to be read together as giving effect to the true intention of section 43B If Explanation 2 is retrospective, the first proviso will have to be so construed Read in this light also, the proviso has to be read into section 43B from its inception

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

7………………. Therefore, section 43B(a), the first proviso to section 43B and Explanation 2 have to be read together as giving effect to the true intention of section 43B If Explanation 2 is retrospective, the first proviso will have to be so construed Read in this light also, the proviso has to be read into section 43B from its inception

VAAHO AGENCIES PRIVATE LIMITED ,AMRITSAR vs. INCOME TAX OFFICER WARD -1 ( 1 ) , AMRITSAR

In the result, the appeal of the assessee related all grounds of ITA No

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

7………………. Therefore, section 43B(a), the first proviso to section 43B and Explanation 2 have to be read together as giving effect to the true intention of section 43B If Explanation 2 is retrospective, the first proviso will have to be so construed Read in this light also, the proviso has to be read into section 43B from its inception

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

7. The Ld. CIT (A) has discussed the provisions of 2(24) on definition of income, section 36, section 28, section 43B, Explanation 2 on due dates and EPF Scheme referring CBDT Circular Bearing No. 4958. The Ld. CIT (A) has followed the apex court judgement while confirming the addition by observing vide clause 8 to para 5.4 that Supreme

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

7. The Ld. CIT (A) has discussed the provisions of 2(24) on definition of income, section 36, section 28, section 43B, Explanation 2 on due dates and EPF Scheme referring CBDT Circular Bearing No. 4958. The Ld. CIT (A) has followed the apex court judgement while confirming the addition by observing vide clause 8 to para 5.4 that Supreme

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

7. We have heard the rival contention of the parties and perused the material available on record. Section 40A(2) provides as under: “Section 40A Expenses or payments not deductible in certain circumstances. (2)(a) Where the assessee incurs any expenditure in respect of which payment has been or is to be made to any person47 referred to in clause

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

7. We have heard the rival contention of the parties and perused the material available on record. Section 40A(2) provides as under: “Section 40A Expenses or payments not deductible in certain circumstances. (2)(a) Where the assessee incurs any expenditure in respect of which payment has been or is to be made to any person47 referred to in clause

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)

2. That the Ld commissioner of Income tax appeal has wrongly passed his orders applying the amendments made in Section 36(1) & 43B which are effective from 01.04.2021 and the appeal of the assessee is for Ass. Yr. 2020-21. 3. The orders of the Ld CIT (Appeals) may kindly be set aside in respect to disallowance of Late payment

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)

2. That the Ld commissioner of Income tax appeal has wrongly passed his orders applying the amendments made in Section 36(1) & 43B which are effective from 01.04.2021 and the appeal of the assessee is for Ass. Yr. 2020-21. 3. The orders of the Ld CIT (Appeals) may kindly be set aside in respect to disallowance of Late payment

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)

2. That the Ld commissioner of Income tax appeal has wrongly passed his orders applying the amendments made in Section 36(1) & 43B which are effective from 01.04.2021 and the appeal of the assessee is for Ass. Yr. 2020-21. 3. The orders of the Ld CIT (Appeals) may kindly be set aside in respect to disallowance of Late payment

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

7. To adjudicate the present appeal we shall be taking up and dealing with each issue vis a vis which the Ld.Pr.CIT had found the order passed by the AO to be erroneous. 8. Before adverting to the same ,it would be relevant to discuss the jurisprudence on the exercise of revisionary power as per the provisions of section

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

disallowance in terms of section 143(1)(a) of the Act. The action of revenue is in accordance with the law laid down by Hon’ble Supreme Court in the cited decision. 10. In the result, the appeal of the assessee bearing ITA 192/Asr/2022 is dismissed.” I.T.A. Nos. 8 & 9/Asr/2023 27 A. Y.: 2018-19 & 2019-20 7. The issue

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

disallowance in terms of section 143(1)(a) of the Act. The action of revenue is in accordance with the law laid down by Hon’ble Supreme Court in the cited decision. 10. In the result, the appeal of the assessee bearing ITA 192/Asr/2022 is dismissed.” I.T.A. Nos. 8 & 9/Asr/2023 27 A. Y.: 2018-19 & 2019-20 7. The issue

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

disallowances. In terms of this scheme, section 40 (which too starts with a non-obstante clause overriding Sections 30-38), deals with what cannot be deducted in computing income under the head "Profits and Gains of Business and Profession". Likewise, section 40A(2) opens with a non-obstante clause and spells out what expenses and payments are not deductible

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

disallowances. In terms of this scheme, section 40 (which too starts with a non-obstante clause overriding Sections 30-38), deals with what cannot be deducted in computing income under the head "Profits and Gains of Business and Profession". Likewise, section 40A(2) opens with a non-obstante clause and spells out what expenses and payments are not deductible

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

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

ATC LOGISTICAL SOLUTIONS PRIVATE LIMITED ,DELHI vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1, AMRITSAR

In the result, appeal of the assessee ITA No

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

Disallowance u/s 40A(7) was restricted to Rs. 19,52,569/- as an amount of Rs. 2,63,876/- was already added. 6.2 In the submission, the appellant has submitted that the decision of the CIT(A) confirming the similar addition made u/s 143(1) was challenged before the Hon’ble ITAT and that the matter has been restored back

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

7 it invested in deposits with Commercial Banks. The question before us is whether the said interest earned on the said deposits was “business profits” and eligible for deduction u/s 80P(2)(a)(i)? 8. The ld. AR for the assessee argued that its activity of providing credit facilities to its members was an “eligible activity” u/s 80P(2

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

disallowances. In terms of this scheme, section 40 (which too starts with a non- obstante clause overriding Sections 30-38), deals with what cannot be deducted in computing income under the head "Profits and Gains of Business and Profession". Likewise, section 40A(2) opens with a non-obstante clause and spells out what expenses and payments are not deductible