BRODAWAYS OVERSEAS LIMITED,JALANDHAR vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1, JALANDHAR

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

58,45,829/- after claiming deduction under section 80IB of the Act at Rs.56,37,834/- on the profits of the Unit-1 (factory premises) of the assessee company situated at G.T. Road, Suranussi, Jalandhar and under section 10B of the Act at Rs.5,09,67,748/- on the profits of Unit-11 (factory premises) of the assessee company situated

THE ASSTT. COMMISSIONER OF INCOME TAX, JALANDHAR vs. M/S BROADWAYS OVERSEAS LTD, JALANDHAR

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

58,45,829/- after claiming deduction under section 80IB of the Act at Rs.56,37,834/- on the profits of the Unit-1 (factory premises) of the assessee company situated at G.T. Road, Suranussi, Jalandhar and under section 10B of the Act at Rs.5,09,67,748/- on the profits of Unit-11 (factory premises) of the assessee company situated

THE ASSTT. COMMISSIONER OF INCOME TAX, JALANDHAR vs. M/S BROADWAY OVERSEAS LTD., JALANDHAR

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

58,45,829/- after claiming deduction under section 80IB of the Act at Rs.56,37,834/- on the profits of the Unit-1 (factory premises) of the assessee company situated at G.T. Road, Suranussi, Jalandhar and under section 10B of the Act at Rs.5,09,67,748/- on the profits of Unit-11 (factory premises) of the assessee company situated

THE ASSTT. COMMISSIONER OF INCOME TAX, JALANDHAR vs. M/S BROADWAY OVERSEAS LTD., JALANDHAR

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

58,45,829/- after claiming deduction under section 80IB of the Act at Rs.56,37,834/- on the profits of the Unit-1 (factory premises) of the assessee company situated at G.T. Road, Suranussi, Jalandhar and under section 10B of the Act at Rs.5,09,67,748/- on the profits of Unit-11 (factory premises) of the assessee company situated

THE ASSTT. COMMISSIONER OF INCOME TAX, JALANDHAR vs. M/S BROADWAY OVERSEAS LTD., JALANDHAR

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

58,45,829/- after claiming deduction under section 80IB of the Act at Rs.56,37,834/- on the profits of the Unit-1 (factory premises) of the assessee company situated at G.T. Road, Suranussi, Jalandhar and under section 10B of the Act at Rs.5,09,67,748/- on the profits of Unit-11 (factory premises) of the assessee company situated

THE DY. COMMISSIONER OF INCOME TAX, JAMMU vs. M/S. FIL INDUSTRIES LTD, SRINAGAR

In the result appeal of the assessee ground no 4 to 4

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

disallowance of depreciation of Rs. 23,16,393/- on the basis of invoking explanation 10 to section 43(1) of the Act is highly unjustified and uncalled for. Reliance is also placed on the following judicial pronouncements: i) 65 SOT 58

THE DY.COMMISSIONER OF INCOME-TAX, JAMMU vs. M/S FIL INDUSTRIES,, SRINAGAR

In the result appeal of the assessee ground no 4 to 4

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

disallowance of depreciation of Rs. 23,16,393/- on the basis of invoking explanation 10 to section 43(1) of the Act is highly unjustified and uncalled for. Reliance is also placed on the following judicial pronouncements: i) 65 SOT 58

THE DY. COMMISSIONER OF INCOME TAX, JAMMU vs. M/S. FIL INDUSTRIES LTD, SRINAGAR

In the result appeal of the assessee ground no 4 to 4

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

disallowance of depreciation of Rs. 23,16,393/- on the basis of invoking explanation 10 to section 43(1) of the Act is highly unjustified and uncalled for. Reliance is also placed on the following judicial pronouncements: i) 65 SOT 58

THE DY.COMMISSIONER OF INCOME-TAX, JAMMU vs. M/S FILL INDUSTRIES,, SRINAGAR

In the result appeal of the assessee ground no 4 to 4

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

disallowance of depreciation of Rs. 23,16,393/- on the basis of invoking explanation 10 to section 43(1) of the Act is highly unjustified and uncalled for. Reliance is also placed on the following judicial pronouncements: i) 65 SOT 58

THE DY.COMMISSIONER OF INCOME-TAX, JAMMU vs. M/S FIL INDUSTRIES,, SRINAGAR

In the result appeal of the assessee ground no 4 to 4

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

disallowance of depreciation of Rs. 23,16,393/- on the basis of invoking explanation 10 to section 43(1) of the Act is highly unjustified and uncalled for. Reliance is also placed on the following judicial pronouncements: i) 65 SOT 58

THE DY.COMMISSIONER OF INCOME-TAX, JAMMU vs. M/S FIL INDUSTRIES,, SRINAGAR

In the result appeal of the assessee ground no 4 to 4

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

disallowance of depreciation of Rs. 23,16,393/- on the basis of invoking explanation 10 to section 43(1) of the Act is highly unjustified and uncalled for. Reliance is also placed on the following judicial pronouncements: i) 65 SOT 58

M/S FIL INDUSTRIES LTD,SRINAGAR vs. THE DY COMMISSIONER OF INCOME TAX, SRINAGAR

In the result appeal of the assessee ground no 4 to 4

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

disallowance of depreciation of Rs. 23,16,393/- on the basis of invoking explanation 10 to section 43(1) of the Act is highly unjustified and uncalled for. Reliance is also placed on the following judicial pronouncements: i) 65 SOT 58

M/S FIL INDUSTRIES LTD,SRINAGAR vs. THE ADDL. COMMISSIONER OF INCOME TAX, SRINAGAR

In the result appeal of the assessee ground no 4 to 4

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

disallowance of depreciation of Rs. 23,16,393/- on the basis of invoking explanation 10 to section 43(1) of the Act is highly unjustified and uncalled for. Reliance is also placed on the following judicial pronouncements: i) 65 SOT 58

THE DY.COMMISSIONER OF INCOME-TAX, JAMMU vs. M/S FILL INDUSTRIES,, SRINAGAR

In the result appeal of the assessee ground no 4 to 4

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

disallowance of depreciation of Rs. 23,16,393/- on the basis of invoking explanation 10 to section 43(1) of the Act is highly unjustified and uncalled for. Reliance is also placed on the following judicial pronouncements: i) 65 SOT 58

THE DY.COMMISSIONER OF INCOME-TAX, JAMMU vs. M/S FILL INDUSTRIES,, SRINAGAR

In the result appeal of the assessee ground no 4 to 4

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

disallowance of depreciation of Rs. 23,16,393/- on the basis of invoking explanation 10 to section 43(1) of the Act is highly unjustified and uncalled for. Reliance is also placed on the following judicial pronouncements: i) 65 SOT 58

MESERS SPEED SURYA MOVIES ,JALANDHAR vs. DEPUTY COMMISSIONER OF INCOME TAX ,CIRCLE-II, JALANDHAR

In the result, the appeal is partly allowed

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

section 40(a)(ia) of the Act, the disallowance has to be restricted to the tune of 30% in respect of the expenses on which TDS was not deducted by the assessee. Such amendment was held as retrospective by the Delhi Tribunal in the case of “Muradul Haque vs. ITO”, reported in 184 ITD 58

SATIA INDUSTRIES LIMITED,MUKTSAR vs. DCIT/ACIT CIRCLE I, BATHINDA, BATHINDA

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

Bench: Dr. M. L. Meena & Sh. Udayan Dasgupta

disallowed the claim on the grounds that contributions made towards Corporate Social Responsibility (CSR) are not eligible for a deduction under section 80G. The DRP has observed that a donation, by definition, is a voluntary act and not made in exchange for any consideration (quid pro quo).” 56. The DRP further pointed out that CSR expenses cannot be claimed

M/S. SHREE-E-KASHMIR COLLEGE OF EDUCATIONAL,JAMMU vs. THE INCOME-TAX OFFICER, JAMMU

In the result, the captioned four appeals of the Assessee Trust are allowed

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

Disallowance of Interest paid by 1,96,496/- 6,89,994/- 3,53,381/- - the Trust on term loan by holding that the trust has made interest free advances to its Trustees. 21,72,081/- 24,61,984/- 9,51,368/- 9,24,414/- Total additions made under section 143(3) of the I.T. Act, Income Returned