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

disallowances made in the order passed u/s 143(1) of the Act was challenged before the CIT(A). The CIT(A) upheld the order of the AO. The observations of CIT(A) in Page no. 6-7 of the impugned order are as follows:- “4.3.3 it is relevant to refer to the following case laws which have been decided against

THE HOSHIARPUR CENTRAL COPREATIVE -BANK,HOSHIARPUR vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE HOSHIARPUR, HOSHIARPUR

In the result, ground no. 1 of the assessee has not pressed, ground no-3 is

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

disallowance as made by the AO, the ld. CIT(A) observed that the assessee is not eligible in deduction of the second limb of section 36(1)(viia) of the Act which concerns itself with deduction computed @ 10% of aggregate average advance made rural branches of the assessee. To keeping in view, amended provision to section 36(1)(vii

DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1, JALANDHAR vs. MEASAGE BHAGWATI LACTO VEGETARIAN EXPORTS (P) LIMITED, FEROZEPUR CANTT

In the result, the appeal filed by the Revenue is dismissed

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

disallowance of bad debts of Rs. 1,98,63,037/- in contravention into the provisions of section 36(1)(vii

THE DY. COMMISSIONER OF INCOME TAX, JALANDHAR vs. THE NAWANSHAHR CENTRAL CO-OP BANK LTD, NAWANSHAHR

Bench: Sh. T. S. Kapoor & Sh. N. K. Choudhryi.T.A. No. 61/(Asr)/2017 Assessment Year: 2013-14 Pan: Aaaat4125G The Dy. C. I. T. Vs. The Nawanshahr Central Co-Op. Circle-Ii, Jalandhar. Bank Ltd. Nawanshahr, Distt. Doaba. (Appellant) (Respondent)

disallowed the provisions which the assessee has made on standard assets and has also made addition on account of interest on Non Performing Assets which the assessee had not taken into account. We find that these issues are 3 ITA No. 61(Asr)/2017 Assessment Year: 2013-14 squarely covered in favour of the assessee by the orders

DEPUTY COMMISSIONER OF INCOME TAX CIRCLE -IV, KAPURTHALA vs. M/S PUNJAB GRAMIN BANK, KAPURTHALA

Bench: Shri N.K. Saini & Shri Ravish Sood

disallowed an amount of Rs. 3,53,47,000/- on account of provision for bad and doubtful debts made by the assessee against standard assets on the ground that the said provision was made against assets which were of good quality and was in the nature of contingent liability. It has been the claim of the assessee that the provision

DEPUTY COMMSSIONER OF INCOME TAX, CIRCLE - IV,, JALANDHAR vs. M/S THE KAPURTHALA CENTRAL CO. OPERATIVE BANK LIMITED, KAPURTHALA

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

Bench: Sh. Sanjay Arora & Sh. N.K.Choudhryita No.543(Asr)/2017 Assessment Year:2014-15

disallowance of provision for Standard Assets. The concluding part of the order is reproduced herein below. “8. We have heard the rival parties and have gone through the material on record. We find that the assessee had created a provision of Rs.50,00,000/- which included a sum of Rs.13,25,000/- as provisions for bad and doubtful debts

PUNJAB GRAMIN BANK,KAPURTHALA vs. THE DY COMMISSIONER OF INCOME TAX, JALANDHAR

Bench: Sh. T. S. Kapoor & Sh. N. K. Choudhryi.T.A No. 648/(Asr)/2016 Assessment Year: 2013-14 Pan: Aaalp0309F Asst. C. I. T., Vs. M/S. Punjab Gramin Bank Circle-Iv, Jalandhar. Jalandhar Road, Kapurthala. (Appellant) (Respondent)

disallowance u/s 37(1) of the Act. The Ld. CIT(A) should also hear the assessee on the applicability of provisions of section 43B(f) of the Act. In view of the above, the appeals filed by assessee are allowed for statistical purposes.” In view of the above precedent we set aside the appeal of the assessee

ASSTT. COMMISSIONER OF INCOME TAX, JALANDHAR vs. M/S PUNJAB GRAMIN BANK, KAPURTHALA

Bench: Sh. T. S. Kapoor & Sh. N. K. Choudhryi.T.A No. 648/(Asr)/2016 Assessment Year: 2013-14 Pan: Aaalp0309F Asst. C. I. T., Vs. M/S. Punjab Gramin Bank Circle-Iv, Jalandhar. Jalandhar Road, Kapurthala. (Appellant) (Respondent)

disallowance u/s 37(1) of the Act. The Ld. CIT(A) should also hear the assessee on the applicability of provisions of section 43B(f) of the Act. In view of the above, the appeals filed by assessee are allowed for statistical purposes.” In view of the above precedent we set aside the appeal of the assessee

M/S NARULA OIL & FATS PRIVATE LIMITED,AHEMDABAD vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE, AMRITSAR

In the result, the appeals of the revenue are dismissed and appeals of assessee are allowed in the terms indicated above

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

36,27,678/- upheld by the Sir, it is submitted that the disallowance u/s 40A(3) of the Worthy CIT(A) impugned addition made purely Act on the basis of books of accounts and during the year under consideration assessee company has not made any cash purchases from the parties mentioned in the impugned order, copy of ledger account

M/S NARULA FOODS PRIVATE LIMITED,FEROZEPUR vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE, AMRITSAR

In the result, the appeals of the revenue are dismissed and appeals of assessee are allowed in the terms indicated above

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

36,27,678/- upheld by the Sir, it is submitted that the disallowance u/s 40A(3) of the Worthy CIT(A) impugned addition made purely Act on the basis of books of accounts and during the year under consideration assessee company has not made any cash purchases from the parties mentioned in the impugned order, copy of ledger account

M/S NARULA FOODS PRIVATE LIMITED,FEROZEPUR vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE, AMRITSAR

In the result, the appeals of the revenue are dismissed and appeals of assessee are allowed in the terms indicated above

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

36,27,678/- upheld by the Sir, it is submitted that the disallowance u/s 40A(3) of the Worthy CIT(A) impugned addition made purely Act on the basis of books of accounts and during the year under consideration assessee company has not made any cash purchases from the parties mentioned in the impugned order, copy of ledger account

M/S NARULA FOODS PRIVATE LIMITED,FEROZEPUR vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE, AMRITSAR

In the result, the appeals of the revenue are dismissed and appeals of assessee are allowed in the terms indicated above

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

36,27,678/- upheld by the Sir, it is submitted that the disallowance u/s 40A(3) of the Worthy CIT(A) impugned addition made purely Act on the basis of books of accounts and during the year under consideration assessee company has not made any cash purchases from the parties mentioned in the impugned order, copy of ledger account

M/S NARULA OIL & FATS PRIVATE LIMITED,AHEMDABAD vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE, AMRITSAR

In the result, the appeals of the revenue are dismissed and appeals of assessee are allowed in the terms indicated above

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

36,27,678/- upheld by the Sir, it is submitted that the disallowance u/s 40A(3) of the Worthy CIT(A) impugned addition made purely Act on the basis of books of accounts and during the year under consideration assessee company has not made any cash purchases from the parties mentioned in the impugned order, copy of ledger account

MEASAGE NARULA SOLVEX PRIVATE LIMITED,MOGA vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE, AMRITSAR

In the result, the appeals of the revenue are dismissed and appeals of assessee are allowed in the terms indicated above

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

36,27,678/- upheld by the Sir, it is submitted that the disallowance u/s 40A(3) of the Worthy CIT(A) impugned addition made purely Act on the basis of books of accounts and during the year under consideration assessee company has not made any cash purchases from the parties mentioned in the impugned order, copy of ledger account

MEASAGE SAT KARTAR SOLVEX PRIVATE LIMITED,FEROZEPUR vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE, AMRITSAR

In the result, the appeals of the revenue are dismissed and appeals of assessee are allowed in the terms indicated above

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

36,27,678/- upheld by the Sir, it is submitted that the disallowance u/s 40A(3) of the Worthy CIT(A) impugned addition made purely Act on the basis of books of accounts and during the year under consideration assessee company has not made any cash purchases from the parties mentioned in the impugned order, copy of ledger account

ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE, AMRITSAR vs. M/S NARULA OIL & FATS PRIVTE LIMITED, AHMEDABAD

In the result, the appeals of the revenue are dismissed and appeals of assessee are allowed in the terms indicated above

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

36,27,678/- upheld by the Sir, it is submitted that the disallowance u/s 40A(3) of the Worthy CIT(A) impugned addition made purely Act on the basis of books of accounts and during the year under consideration assessee company has not made any cash purchases from the parties mentioned in the impugned order, copy of ledger account

MEASAGE G H AGRO PRODUCTS PRIVATE LIMITED,AMRITSAR vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE, AMRITSAR

In the result, the appeals of the revenue are dismissed and appeals of assessee are allowed in the terms indicated above

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

36,27,678/- upheld by the Sir, it is submitted that the disallowance u/s 40A(3) of the Worthy CIT(A) impugned addition made purely Act on the basis of books of accounts and during the year under consideration assessee company has not made any cash purchases from the parties mentioned in the impugned order, copy of ledger account

M/S NARULA OIL & FATS PRIVATE LIMITED,AHEMDABAD vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE, AMRITSAR

In the result, the appeals of the revenue are dismissed and appeals of assessee are allowed in the terms indicated above

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

36,27,678/- upheld by the Sir, it is submitted that the disallowance u/s 40A(3) of the Worthy CIT(A) impugned addition made purely Act on the basis of books of accounts and during the year under consideration assessee company has not made any cash purchases from the parties mentioned in the impugned order, copy of ledger account