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

loss from sale of unquoted investment of Rs.4037.19 lakhs; (c) Allowability of expenditure incurred on Corporate guarantee given on behalf of a sister concern as business deduction; (d) Basis of valuation of various assets sold in slump sale to Max Speciality Films Ltd. (e) Rent received from letting out of a property to the employee taxable as ‘income from house

M/S ACTIVE TOOLS (P). LIMITED,JALANDHAR vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE -II, JALANDHAR

Bench: : Shri Laliet Kumar & Dr. Mitha Lal Meena

house property, profits and gains of business or profession, or capital gains, nor as it income from "other sources" because the provisions of sections 69,69A, 69B and 69 treat unexplained investments, unexplained money, bullion etc. and unexplained expenditure as deemed income where the nature and sources of investment, acquisition or expenditure, as the case may be, have not been

M/S SHANKAR RICE & GENERAL MILLS ,MOGA vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE, MOGA

In the result, the appeal of the assessee is dismissed

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

house property, profits and gains of business or profession, or capital gains, nor is it income from ’other sources' because the provisions of sections 69, 69A, 69B and 69C treat unexplained investments, unexplained money, bullion, etc., and unexplained expenditure as deemed income where the nature and source of investment, acquisition or expenditure, as the case may be, have not been

SH. MANINDER SINGH CHEEMA,HOSHIARPUR vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, HOSHIARPUR

In the result, the assessee appeal is dismissed

Bench: Sh. Laliet Kumar & Dr. M. L. Meenai.T.A. No. 702/Asr/2013 Assessment Year: 2009-10

set off the business losses can not be permitted against the income from any other source. For the above said proposition we may rely upon the decision of the Jurisdictional High Court in the matter of Kim Pharma (P.) Ltd. [2013] 35 taxmann.com 456 (Punjab & Haryana) , wherein it was held as under:- “4. Learned counsel for the assessee submitted that

SHRI RAJAN BATRA,JALANDHAR vs. DEPUTY COMMISSIONER OF INCOME TAX CENRAL CIRCLE-II, JALANDHAR

In the result, the ITA No

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

house property, without considering the facts of the case and without observing the principles of natural justice. s. That having regard to the facts and circumstances of the case, Hon’ble CIT (A) has erred in law and on facts in confirming the action of Ld. Assessing Officer in making an addition of Rs. 17,88,806/-, without considering

ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1, JALANDHAR vs. SHRI RAJAN BATRA, JALANDHAR

In the result, the ITA No

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

house property, without considering the facts of the case and without observing the principles of natural justice. s. That having regard to the facts and circumstances of the case, Hon’ble CIT (A) has erred in law and on facts in confirming the action of Ld. Assessing Officer in making an addition of Rs. 17,88,806/-, without considering

SHRI RAJESH TIWARI,JALANDHAR vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-II, JALANDHAR

In the result, the ITA No

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

house property, without considering the facts of the case and without observing the principles of natural justice. s. That having regard to the facts and circumstances of the case, Hon’ble CIT (A) has erred in law and on facts in confirming the action of Ld. Assessing Officer in making an addition of Rs. 17,88,806/-, without considering

SHRI RAJAN BATRA,JALANDHAR vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-II, JALANDHAR

In the result, the ITA No

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

house property, without considering the facts of the case and without observing the principles of natural justice. s. That having regard to the facts and circumstances of the case, Hon’ble CIT (A) has erred in law and on facts in confirming the action of Ld. Assessing Officer in making an addition of Rs. 17,88,806/-, without considering

SHRI RAJAN BATRA,JALANDHAR vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-II, JALANDHAR

In the result, the ITA No

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

house property, without considering the facts of the case and without observing the principles of natural justice. s. That having regard to the facts and circumstances of the case, Hon’ble CIT (A) has erred in law and on facts in confirming the action of Ld. Assessing Officer in making an addition of Rs. 17,88,806/-, without considering

ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1, JALANDHAR vs. SHRI RAJAN BATRA, JALANDHAR

In the result, the ITA No

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

house property, without considering the facts of the case and without observing the principles of natural justice. s. That having regard to the facts and circumstances of the case, Hon’ble CIT (A) has erred in law and on facts in confirming the action of Ld. Assessing Officer in making an addition of Rs. 17,88,806/-, without considering

SHRI RAJESH TIWARI,JALANDHAR vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-II, JALANDHAR

In the result, the ITA No

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

house property, without considering the facts of the case and without observing the principles of natural justice. s. That having regard to the facts and circumstances of the case, Hon’ble CIT (A) has erred in law and on facts in confirming the action of Ld. Assessing Officer in making an addition of Rs. 17,88,806/-, without considering

SHRI RJAN BATRA,JALANDHAR vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-II, JALANDHAR

In the result, the ITA No

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

house property, without considering the facts of the case and without observing the principles of natural justice. s. That having regard to the facts and circumstances of the case, Hon’ble CIT (A) has erred in law and on facts in confirming the action of Ld. Assessing Officer in making an addition of Rs. 17,88,806/-, without considering

SHRI RAJAN BATRA ,JALANDHAR vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-II, JALANDHAR

In the result, the ITA No

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

house property, without considering the facts of the case and without observing the principles of natural justice. s. That having regard to the facts and circumstances of the case, Hon’ble CIT (A) has erred in law and on facts in confirming the action of Ld. Assessing Officer in making an addition of Rs. 17,88,806/-, without considering

SHRI RAJESH TIWARI,JALANDHAR vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-II, JALANDHAR

In the result, the ITA No

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

house property, without considering the facts of the case and without observing the principles of natural justice. s. That having regard to the facts and circumstances of the case, Hon’ble CIT (A) has erred in law and on facts in confirming the action of Ld. Assessing Officer in making an addition of Rs. 17,88,806/-, without considering

SHRI RAJAN BATRA,JALANDHAR vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-II, JALANDHAR

In the result, the ITA No

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

house property, without considering the facts of the case and without observing the principles of natural justice. s. That having regard to the facts and circumstances of the case, Hon’ble CIT (A) has erred in law and on facts in confirming the action of Ld. Assessing Officer in making an addition of Rs. 17,88,806/-, without considering

SHR RAJESH TIWARI,JALANDHAR vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-II, JALANDHAR

In the result, the ITA No

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

house property, without considering the facts of the case and without observing the principles of natural justice. s. That having regard to the facts and circumstances of the case, Hon’ble CIT (A) has erred in law and on facts in confirming the action of Ld. Assessing Officer in making an addition of Rs. 17,88,806/-, without considering

LORD MAHAVIRA HOMOEOPHATIC MEDICAL COLLEGE AND HOSPITAL ,LUDHIANA vs. INCOME TAX OFFICER (EXEMPTIONS), JALANDHAR

In the result the 2nd ground raised by the assessee is liable to be allowed

Bench: Shri Laliet Kumar & Dr. Mitha Lal Meena

Loss Account would not be taxable at all. The remaining contention raised by the assessee are common as raised by the assessee for the assessment year 2013 – 14 ” 13. The Ld.AR for the assessee had submitted that the assessee was entitled to the deemed registration under the act as the lower authority has failed to court I.T.A

M/S LORD MAHAVIRA HOMEOP[ATHIC MEDICAL COLLEGE & HOSPITAL ,LUDHIANA vs. INCOME TAX OFFICER WARD- ( EXEMPTIONS), JALANDHAR

In the result the 2nd ground raised by the assessee is liable to be allowed

Bench: Shri Laliet Kumar & Dr. Mitha Lal Meena

Loss Account would not be taxable at all. The remaining contention raised by the assessee are common as raised by the assessee for the assessment year 2013 – 14 ” 13. The Ld.AR for the assessee had submitted that the assessee was entitled to the deemed registration under the act as the lower authority has failed to court I.T.A