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8 results for “disallowance”+ Section 256(1)clear

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Key Topics

Section 40A(3)7Addition to Income6Section 685Section 143(3)5Section 14A5Disallowance5Section 2634Section 145(3)3Section 2502Section 36(1)(iii)

MEASAGE TAU AGRO SALES PRIVATE LIMITED,FARIDKOT vs. INCOME TAX OFFICER WARD-3(2), FEROZEPUR

In the result the ground no

ITA 324/ASR/2019[2014-15]Status: DisposedITAT Amritsar22 Sept 2022AY 2014-15

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

Section 143(3)Section 250Section 36Section 36(1)(iii)Section 40A(3)

256/- is added back with the total income. 3.2.In other issue, Rs.10 lac was added back with the total income of the assessee on account of share application money which was converted to loan and said loan was not mentioned in the tax audit record. So, the loan amount of Rs.10 lac from directors was added back with the total

MEASAGE.TAU AGRO SALES PRIVATE LIMITED,FARIDKOT vs. INCOME TAX OFFICER WARD-3(4), FARIDKOT

In the result the ground no

2
Depreciation2
ITA 325/ASR/2019[2015-16]Status: DisposedITAT Amritsar22 Sept 2022AY 2015-16

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

Section 143(3)Section 250Section 36Section 36(1)(iii)Section 40A(3)

256/- is added back with the total income. 3.2.In other issue, Rs.10 lac was added back with the total income of the assessee on account of share application money which was converted to loan and said loan was not mentioned in the tax audit record. So, the loan amount of Rs.10 lac from directors was added back with the total

LALLY MOTORS INDIA PVT. LTD,JALANDHAR vs. THE PRINCIPAL COMMISSIONER OF INCOME TAX-2, JALANDHAR

In the result, the assessee’s appeal is dismissed

ITA 218/ASR/2017[2012-13]Status: DisposedITAT Amritsar12 Apr 2018AY 2012-13

Bench: Sh. Sanjay Arora & Sh. N. K. Choudhryi.T.A. No. 218(Asr)/2017 Assessment Year: 2012-13

For Appellant: Sh. Sameer Bhatia (Adv.)For Respondent: Sh. Bhawani Shankar (D. R.)
Section 119Section 143(3)Section 14ASection 263

disallowance u/s. 14A qua the investment in shares in Gautam Iron Mills Pvt. Ltd. afresh, and in light of the Board Circular 5/2014 (para 4 of the impugned order). Aggrieved, the assessee is in appeal. 4. We have heard the parties, and perused the material on record. 4.1 Our first observation in the matter is a complete absence

SHRI RAJ KUMAR ( M/S RADHIKA SALES CORP ), AMRITSAR vs. INCOME TAX OFFICER WARD- 3 (3), AMRITSAR

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

ITA 195/ASR/2022[2017-18]Status: DisposedITAT Amritsar11 Apr 2023AY 2017-18

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

Section 143(3)Section 145(3)Section 250oSection 68

256 (Delhi). “IV. Section 68 of the Income-tax Act, 1961 - Cash credit (Bank deposits) - Assessment year 2017-18 -Assessee-company was engaged in business of selling dry fruits - post-demonetization, assessee deposited cash amounting to Rs. 180.53 crore in its bank accounts - Assessing Officer held that cash deposits made by assessee represented unaccounted income and accordingly, made additions - Tribunal

SH. BASANT KUMAR,FAZILKA vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-II, BATHINDA

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

ITA 514/ASR/2017[2014-15]Status: DisposedITAT Amritsar25 May 2018AY 2014-15

Bench: Sh. Sanjay Arora & Sh. N. K. Choudhryi.T.A. No. 514/(Asr)/2017 Assessment Year: 2014-15

For Appellant: Sh. P. N. Arora (Adv.)For Respondent: Sh. Charan Dass (D.R.)
Section 143(3)Section 28Section 40A(3)

section 37(1) (for any revenue expenditure generally), etc. The matter stands dealt with and explained at considerable length by the Tribunal per its special bench decision in ITO v. Kenaram Saha and Subhash Saha [2009] 116 ITD 1 (Kol)(SB); and more recently in Gurdas Garg v. Asst. CIT (in ITA No. 456/Asr/2013, dated 28/2/2014) (also referred

THE ASSISTANT COMMISSIONER OF INCOME TAX, BATHINDA vs. SH. DALJIT SINGH, BATHINDA

In the result, the appeal filed by the Revenue Department stands dismissed

ITA 461/ASR/2015[2007-08]Status: DisposedITAT Amritsar12 Feb 2019AY 2007-08

Bench: Sh. N.S.Saini & Sh. N.K.Choudhryita No.461(Asr)/2015 Assessment Year:2007-08

For Appellant: Sh. Bhawani Shankar (Ld. DR)For Respondent: None
Section 250(6)Section 271Section 271(1)Section 271(1)(c)

section 271(1)(c), but such presumption is rebuttable. The Explanation itself provides for such rebuttal in cases, where the taxpayer has an explanation for the difference, produces all the materials available with him and such explanation is not found to be mala fide. In the instant case, the appellant did provide explanation for the lesser profit disclosed, which

SHRI FAROOQ AHMAD AHANGAR,SRINAGAR vs. INCOME TAX OFICER, WARD-3(1, SRINAGAR

In the result, both the appeals are allowed

ITA 607/ASR/2018[2010-11]Status: DisposedITAT Amritsar26 Sept 2022AY 2010-11

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

For Appellant: None (Written submission)For Respondent: Ms. Amanpreet Kaur, Sr. DR
Section 68

256 ITR 243 (Raj.) and stood duly approved by the Hon’ble Allahabad High Court in the case of CIT Vs Mahadev Fleet (P) Limited in ITA No. 232 of 2013 order dated 10.09.2013. 9. The Hon’ble Supreme Court in the case of CIT vs. Siamon Carves Ltd. 105 ITR 212 (S.C.) guided the administration of justice by observing

SHRI FAROOQ AHMAD AHANGAR,SRINAGAR vs. INCOME TAX OFFICER,WARD-3(1), SRINAGAR

In the result, both the appeals are allowed

ITA 606/ASR/2018[2009-10]Status: DisposedITAT Amritsar26 Sept 2022AY 2009-10

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

For Appellant: None (Written submission)For Respondent: Ms. Amanpreet Kaur, Sr. DR
Section 68

256 ITR 243 (Raj.) and stood duly approved by the Hon’ble Allahabad High Court in the case of CIT Vs Mahadev Fleet (P) Limited in ITA No. 232 of 2013 order dated 10.09.2013. 9. The Hon’ble Supreme Court in the case of CIT vs. Siamon Carves Ltd. 105 ITR 212 (S.C.) guided the administration of justice by observing