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

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

section 92CA(2B) that assuming but not admitting that excess period of credit allowed by the assessee company on sales made to the subsidiary company is to be treated as an independent international transaction, Ld. Transfer Pricing Officer could not have taken cognizance suo moto of any international transaction for adjustment in the arm's length price u/s 92CA

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

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

section 92CA(2B) that assuming but not admitting that excess period of credit allowed by the assessee company on sales made to the subsidiary company is to be treated as an independent international transaction, Ld. Transfer Pricing Officer could not have taken cognizance suo moto of any international transaction for adjustment in the arm's length price u/s 92CA

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

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

section 92CA(2B) that assuming but not admitting that excess period of credit allowed by the assessee company on sales made to the subsidiary company is to be treated as an independent international transaction, Ld. Transfer Pricing Officer could not have taken cognizance suo moto of any international transaction for adjustment in the arm's length price u/s 92CA

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

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

section 92CA(2B) that assuming but not admitting that excess period of credit allowed by the assessee company on sales made to the subsidiary company is to be treated as an independent international transaction, Ld. Transfer Pricing Officer could not have taken cognizance suo moto of any international transaction for adjustment in the arm's length price u/s 92CA

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

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

section 92CA(2B) that assuming but not admitting that excess period of credit allowed by the assessee company on sales made to the subsidiary company is to be treated as an independent international transaction, Ld. Transfer Pricing Officer could not have taken cognizance suo moto of any international transaction for adjustment in the arm's length price u/s 92CA

SATIA INDUSTRIES LIMITED,MUKTSAR, PUNJAB vs. DCIT, ACIT CIRCLE 1, BATHINDA

In the result, the appeal is partly allowed

Bench: Shri Udayan Das Gupta & Shri Krinwant Sahayआयकरअपीलसं./Ita No. 527/Asr/2024 िनधा"रणवष" / Assessment Year : 2020-21

4. That the AO on directions of DRP has erred in confirming arm's length price of power [transferred from specified to non-specified unit] computed by TPO at 3.875 per unit against 6.73 taken by the assessee. That DRP has erred in confirming action of the TPO in adopting simple average of rate determined by IEX and that determined

M/S SADHU SINGH HAMDARD TRUST,JALANDHAR vs. ASSISTANT COMMISSIONER OF INCOME TAX, JALANDHAR

In the result, the appeals of the assessee bearing ITA Nos

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

11 of the Income TaxRule 1963 and respectfully following the decision of Supreme Court in the case of National Thermal Power Co. Ltd. vs. CIT 229 ITR 383 (SC). 4. The ld. Sr. DR argued on behalf of the revenue and relied on the order of the revenue authorities. The ld. Sr. DR vehemently argued and mentioned that there

M/S SADHU SINGH HAMDARD TRUST,JALANDHAR vs. ASSISTANT COMMISSIONER OF INCOME TAX, JALANDHAR

In the result, the appeals of the assessee bearing ITA Nos

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

11 of the Income TaxRule 1963 and respectfully following the decision of Supreme Court in the case of National Thermal Power Co. Ltd. vs. CIT 229 ITR 383 (SC). 4. The ld. Sr. DR argued on behalf of the revenue and relied on the order of the revenue authorities. The ld. Sr. DR vehemently argued and mentioned that there

M/S SADHU SINGH HAMDARD TRUST,JALANDHAR vs. ASSISTANT COMMISSIONER OF INCOME TAX, JALANDHAR

In the result, the appeals of the assessee bearing ITA Nos

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

11 of the Income TaxRule 1963 and respectfully following the decision of Supreme Court in the case of National Thermal Power Co. Ltd. vs. CIT 229 ITR 383 (SC). 4. The ld. Sr. DR argued on behalf of the revenue and relied on the order of the revenue authorities. The ld. Sr. DR vehemently argued and mentioned that there

M/S SADHU SINGH HAMDARD TRUST,JALANDHAR vs. ASSISTANT COMMISSIONER OF INCOME TAX, JALANDHAR

In the result, the appeals of the assessee bearing ITA Nos

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

11 of the Income TaxRule 1963 and respectfully following the decision of Supreme Court in the case of National Thermal Power Co. Ltd. vs. CIT 229 ITR 383 (SC). 4. The ld. Sr. DR argued on behalf of the revenue and relied on the order of the revenue authorities. The ld. Sr. DR vehemently argued and mentioned that there

M/S SADHU SINGH HAMDARD TRUST,JALANDHAR vs. ASSISTANT COMMISSIONER OF INCOME TAX, JALANDHAR

In the result, the appeals of the assessee bearing ITA Nos

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

11 of the Income TaxRule 1963 and respectfully following the decision of Supreme Court in the case of National Thermal Power Co. Ltd. vs. CIT 229 ITR 383 (SC). 4. The ld. Sr. DR argued on behalf of the revenue and relied on the order of the revenue authorities. The ld. Sr. DR vehemently argued and mentioned that there

M/S SADHU SINGH HAMDARD TRUST,JALANDHAR vs. ASSISTANT COMMISSIONER OF INCOME TAX, JALANDHAR

In the result, the appeals of the assessee bearing ITA Nos

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

11 of the Income TaxRule 1963 and respectfully following the decision of Supreme Court in the case of National Thermal Power Co. Ltd. vs. CIT 229 ITR 383 (SC). 4. The ld. Sr. DR argued on behalf of the revenue and relied on the order of the revenue authorities. The ld. Sr. DR vehemently argued and mentioned that there

M/S SADHU SINGH HAMDARD TRUST,JALANDHAR vs. ASSISTANT COMMISSIONER OF INCOME TAX, JALANDHAR

In the result, the appeals of the assessee bearing ITA Nos

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

11 of the Income TaxRule 1963 and respectfully following the decision of Supreme Court in the case of National Thermal Power Co. Ltd. vs. CIT 229 ITR 383 (SC). 4. The ld. Sr. DR argued on behalf of the revenue and relied on the order of the revenue authorities. The ld. Sr. DR vehemently argued and mentioned that there

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

transferred power. 4. That the Dispute Resolution Panel (DRP) has erred in shifting the method from the Transactional Net Margin Method (TNMM) to the Cost Plus Method in the case of steam, and to the External Comparable Uncontrolled Price (CUP) method in the case of electricity, without considering the fact that the TNMM method adopted by the appellant

SH. MANJIT KRISHAN MALHOTRA,ABOHAR vs. PR. COMMISSIONER OF INCME TAX , BATHINDA

The appeals of the assessee are disposed of in the terms indicated as above

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

4. The intricate legal issue relating to lack of jurisdiction vested in Pr.Commissioner of Income Tax under section 263 was not there in the knowledge of the petitioner appellant as well as his regular counsel Mr. Mahesh Chander Khungar, resulting need for filing of appeal against impugned order dated 29.03.2016 never cropped up in their mind, inter-alia no appeal

SHRI. MANJIT KRISHAN MALHOTRA,ABOHAR vs. PRINCIPAL COMMISSIONER OF INCOME TAX, BATHINDA

The appeals of the assessee are disposed of in the terms indicated as above

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

4. The intricate legal issue relating to lack of jurisdiction vested in Pr.Commissioner of Income Tax under section 263 was not there in the knowledge of the petitioner appellant as well as his regular counsel Mr. Mahesh Chander Khungar, resulting need for filing of appeal against impugned order dated 29.03.2016 never cropped up in their mind, inter-alia no appeal

POONAM MARWAHA,AMRITSAR vs. ACIT DCIT CEN CIR, AMRITSAR

Bench: Sh. Vikram Singh Yadav & Sh. Udayan Dasgupta

prices considerably above their actual value. This case law does not apply to the present situation, as the Assessing Officer (AO) conducted a thorough enquiry in the current case. Further the source is out of sales made outside books of accounts. 3 [2019] 105 taxmann.com 287 Section 145, read with sections 133A and 263, of the Income

THE DEPUTY COMMISSIONER OF INCOME TAX, JAMMU vs. M/S. JAMMU DEVELPMENT AUTHORITY,, JAMMU

In the result, the appeal of the assessee is partly allowed for statistical purposes and the appeal of the department is dismissed

Bench: Sh. N. S. Saini & Sh. N. K. Choudhryita No. 498/Asr./2013 : Asstt. Year : 2005-06 Jammu Development Authority, Vs Dy. Commissioner Of Income Vikas Bhawan, Rail Head Tax, Circle-I, Complex, Jammu, J & K Jammu (Appellant) (Respondent) Pan No. Aadfj7335A Ita No. 494/Asr./2013 : Asstt. Year : 2005-06 Dy. Commissioner Of Income Vs Jammu Development Authority, Tax, Circle-I, Vikas Bhawan, Rail Head Jammu Complex, Jammu, J & K (Appellant) (Respondent) Pan No. Aabcp1720E Assessee By : Shri. R. K. Gupta, Ca & Shri. Vasu Gupta, Ca Revenue By : Shri. M. P. Singh, Cit Dr Date Of Hearing :21.02.2019 Date Of Pronouncement : 22.03.2019 Order Per N. S. Saini: These Are The Cross Appeals Filed By The Assessee & Revenue Against The Order Of Commissioner Of Income Tax (Appeals) Dated 06.05.2013, Jammu.

4,33,54,756/- has not been reflected by you as your income. Due to the defects mentioned above, I am not satisfied about the correctness or completeness of your accounts as provided under section 145(3) of the Income tax Act, 1961. You are, requested to please explain as to why the assessment under section 144 read with section