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)

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

26 A. Y.: 2018-19 & 2019-20 disallowance under sub-clause (iv) of section 143(1)(a), has used the expression

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

26 A. Y.: 2018-19 & 2019-20 disallowance under sub-clause (iv) of section 143(1)(a), has used the expression

SHRI SATISH KUMAR,JALANDHAR vs. INCOME TAX FFICER WARD- 3 (3), JALANDHAR

In the result, both the appeals of the assessees are allowed

section 36(1)(va) of the Act in view of the binding decisions of the Hon’ble Rajasthan High Court. “ 11. Since the facts of the present cases are identical to the facts involved in the aforesaid referred to cases, therefore respectfully following the earlier orders as referred to herein above of the different Benches of the ITAT, the impugned

M/S AMAR COACH BUILDERS ,JALANDHAR vs. ASSISTANT CMMISSIONER OF INCOME TAX CIRCLE-2, JALANDHAR

In the result, both the appeals of the assessees are allowed

section 36(1)(va) of the Act in view of the binding decisions of the Hon’ble Rajasthan High Court. “ 11. Since the facts of the present cases are identical to the facts involved in the aforesaid referred to cases, therefore respectfully following the earlier orders as referred to herein above of the different Benches of the ITAT, the impugned

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

26 Assessment Year: 2018-19 be considered as falling either under clause (ii) or (iv) of section 143(1). For ready reference, we are extracting the relevant provision as under: '143. (1) Where a return has been made under section 139, or in response to a notice under sub-section (1) of section 142, such return shall be processed

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

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

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

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 NASA AGRO INDUSTRIES PVT. LTD,FAZILKA vs. THE ASSTT. COMMISSIONER OF INCOME TAX,CIRCLE- II, BATHINDA

In the result, the appeal i

Bench: Sh. N.S.Saini & Sh. N.K.Choudhry

section 14A of the Act and hence addition made on the basis of disallowance u/s 14A by the Assessing officer as affirmed by the Ld CIT(A) stands deleted . 9. In the result, the appeal i.e. ITA no. 536/Asr/2017 filed by the assessee stands allowed. 10. Consequently in view of decision in ITA no. 536/Asr/2017, second appeal

M/S NASA AGRO INDUSTRIES PVT. LTD,FAZILKA vs. THE ASSTT. COMMISSIONER OF INCOME TAX,CIRCLE- II, BATHINDA

In the result, the appeal i

Bench: Sh. N.S.Saini & Sh. N.K.Choudhry

section 14A of the Act and hence addition made on the basis of disallowance u/s 14A by the Assessing officer as affirmed by the Ld CIT(A) stands deleted . 9. In the result, the appeal i.e. ITA no. 536/Asr/2017 filed by the assessee stands allowed. 10. Consequently in view of decision in ITA no. 536/Asr/2017, second appeal

THE DY. COMMISSIONER INCOME-TAX, JAMMU vs. M/S. THE JAMMU & KASHMIR BANK LTD,, SRINAGAR

In the result, the ground No

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

section 14A of the Act was not applicable and it could not have been invoked; that had the assessee claimed this income exempt, it was exactly the same as in the earlier years, in which years, it was held that in view of the assessee's own funds, no disallowance of interest cost could have been made I.T.A. No. 790/Asr/2017

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1, JAMMU, SRINAGAR vs. MESERS JAMMU & KASHMIR BANK LIMITED , SRINAGAR

In the result, the ground No

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

section 14A of the Act was not applicable and it could not have been invoked; that had the assessee claimed this income exempt, it was exactly the same as in the earlier years, in which years, it was held that in view of the assessee's own funds, no disallowance of interest cost could have been made I.T.A. No. 790/Asr/2017

ASSISTANT COMMISSIONER OF INCOME -TAX , CIRCLE -1,, JAMMU vs. THE JAMMU & KASHMIR BANK LTD.,, SRINAGAR

In the result, the ground No

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

section 14A of the Act was not applicable and it could not have been invoked; that had the assessee claimed this income exempt, it was exactly the same as in the earlier years, in which years, it was held that in view of the assessee's own funds, no disallowance of interest cost could have been made I.T.A. No. 790/Asr/2017

ASSISTANT COMMISIONER OF INCOME TAX , CIRCLE-1, JAMMU vs. MESERS JAMMU & KASHMIR BANK LIMITED , SRINAGAR

In the result, the ground No

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

section 14A of the Act was not applicable and it could not have been invoked; that had the assessee claimed this income exempt, it was exactly the same as in the earlier years, in which years, it was held that in view of the assessee's own funds, no disallowance of interest cost could have been made I.T.A. No. 790/Asr/2017

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1, JAMMU vs. MESERS JAMMU & KASHMIR BANK LIMITED , SRINAGAR

In the result, the ground No

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

section 14A of the Act was not applicable and it could not have been invoked; that had the assessee claimed this income exempt, it was exactly the same as in the earlier years, in which years, it was held that in view of the assessee's own funds, no disallowance of interest cost could have been made I.T.A. No. 790/Asr/2017

THE JAMMU AND KASHMIR BANK LIMITED,SRINAGAR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1, JAMMU

In the result, the ground No

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

section 14A of the Act was not applicable and it could not have been invoked; that had the assessee claimed this income exempt, it was exactly the same as in the earlier years, in which years, it was held that in view of the assessee's own funds, no disallowance of interest cost could have been made I.T.A. No. 790/Asr/2017

THE DY. COMMISSIONER INCOME-TAX, JAMMU vs. M/S. THE JAMMU & KASHMIR BANK LTD,, SRINAGAR

In the result, the ground No

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

section 14A of the Act was not applicable and it could not have been invoked; that had the assessee claimed this income exempt, it was exactly the same as in the earlier years, in which years, it was held that in view of the assessee's own funds, no disallowance of interest cost could have been made I.T.A. No. 790/Asr/2017

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

26 I.T.A. No. 451/Asr/2019 C.O. No. 6/Asr/2022 Assessment year, 2013-14 18. The Hon’ble Punjab & Haryana High Court in the case of C. R. Auluck and Sons (P.) Ltd. Vs. Commissioner of Income- tax[2014] 49 taxmann.com 21 (Punjab & Haryana) has held as under: “Section 36(1)(iii) of the Income-tax Act, 1961 - Interest on borrowed capital (Interest