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

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

Transfer Pricing Officer (in short ‘the TPO’) on 21.12.2010 for computation of the Arm’s 12 I.T.A. Nos. 477 & CO 32/Asr/2015 & Ors Asstt. CIT v. Broadways Overseas Ltd. & Ors Length Price. The TPO accordingly passed order dated 21.10.2011 and sent it to the Assessing Officer for necessary action at his end. The order/report of the TPO was received

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

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

Transfer Pricing Officer (in short ‘the TPO’) on 21.12.2010 for computation of the Arm’s 12 I.T.A. Nos. 477 & CO 32/Asr/2015 & Ors Asstt. CIT v. Broadways Overseas Ltd. & Ors Length Price. The TPO accordingly passed order dated 21.10.2011 and sent it to the Assessing Officer for necessary action at his end. The order/report of the TPO was received

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

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

Transfer Pricing Officer (in short ‘the TPO’) on 21.12.2010 for computation of the Arm’s 12 I.T.A. Nos. 477 & CO 32/Asr/2015 & Ors Asstt. CIT v. Broadways Overseas Ltd. & Ors Length Price. The TPO accordingly passed order dated 21.10.2011 and sent it to the Assessing Officer for necessary action at his end. The order/report of the TPO was received

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

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

Transfer Pricing Officer (in short ‘the TPO’) on 21.12.2010 for computation of the Arm’s 12 I.T.A. Nos. 477 & CO 32/Asr/2015 & Ors Asstt. CIT v. Broadways Overseas Ltd. & Ors Length Price. The TPO accordingly passed order dated 21.10.2011 and sent it to the Assessing Officer for necessary action at his end. The order/report of the TPO was received

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

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

Transfer Pricing Officer (in short ‘the TPO’) on 21.12.2010 for computation of the Arm’s 12 I.T.A. Nos. 477 & CO 32/Asr/2015 & Ors Asstt. CIT v. Broadways Overseas Ltd. & Ors Length Price. The TPO accordingly passed order dated 21.10.2011 and sent it to the Assessing Officer for necessary action at his end. The order/report of the TPO was received

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

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

Transfer Pricing Officer (in short ‘the TPO’) on 21.12.2010 for computation of the Arm’s 12 I.T.A. Nos. 477 & CO 32/Asr/2015 & Ors Asstt. CIT v. Broadways Overseas Ltd. & Ors Length Price. The TPO accordingly passed order dated 21.10.2011 and sent it to the Assessing Officer for necessary action at his end. The order/report of the TPO was received

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

13. We have gone through the case law cited by the Ld. AR, and observed that all are distinguishable on peculiar facts of the instant case as in none of those cases, there was any transaction of payment and receipt of cash loan, involved in violation of section 269 SS and 269T of the Act. As regards to interpretation

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

13. We have gone through the case law cited by the Ld. AR, and observed that all are distinguishable on peculiar facts of the instant case as in none of those cases, there was any transaction of payment and receipt of cash loan, involved in violation of section 269 SS and 269T of the Act. As regards to interpretation

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

13)/144B of the income tax Act 61 (hereinafter the Act 61) dated 25/10/2024, in respect of which reference was made to TPO for determination of ALP u/s 92CA (after 2 I.T.A. No. 702/Asr/2024 Assessment Year: 2021-22 necessary approval from PCIT), and assessment completed , considering transfer pricing adjustments ,vide order u/s 92CA(3) dated 30/10/2023. 2. Brief facts emerging

THE DY. COMMISSIONER INCOME-TAX, JAMMU vs. M/S. HORIZON BUILDCON PVT. LTD,, JAMMU

In the result, the appeals of the Revenue in I

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

transferred. The Hon'ble Madras High Court in the case of CIT Vs. P. Suryanaraina 88 ITR 321 held that the full value of consideration in the said section meant only the actual value received by the assessee. However the market value may also be taken in place of full value of consideration only in the event of the consideration

THE DY. COMMISSIONER INCOME-TAX, JAMMU vs. M/S. HORIZON BUILDCON PVT. LTD,, JAMMU

In the result, the appeals of the Revenue in I

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

transferred. The Hon'ble Madras High Court in the case of CIT Vs. P. Suryanaraina 88 ITR 321 held that the full value of consideration in the said section meant only the actual value received by the assessee. However the market value may also be taken in place of full value of consideration only in the event of the consideration

THE DY. COMMISSIONER INCOME-TAX, JAMMU vs. M/S. HORIZON BUILDCON PVT. LTD,, JAMMU

In the result, the appeals of the Revenue in I

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

transferred. The Hon'ble Madras High Court in the case of CIT Vs. P. Suryanaraina 88 ITR 321 held that the full value of consideration in the said section meant only the actual value received by the assessee. However the market value may also be taken in place of full value of consideration only in the event of the consideration

THE ASSTT. COMMISSIONER OF INCOME TAX, JAMMU vs. M/S KAISER INDUSTRIES PVT. LTD, SAMBA

In the result, the appeal of the Revenue is dismissed

Bench: Sh. N. S. Saini & Sh. N. K. Choudhryita No. 381/Asr./2016 : Asstt. Year : 2006-07 Asstt. Commissioner Of Income Vs M/S Kaiser Industries Pvt. Ltd., Tax, Circle-1, Jammu Industrial Growth Centre, Sidco, Samba (Appellant) (Respondent) Pan No. Aabck0456G Assessee By : Shri. Vasu Gupta, Ca Revenue By : Sh. Yashender Garg, Dr Date Of Hearing :21.02.2019 Date Of Pronouncement : 22.03.2019 Order Per N. S. Saini: This Is An Appeal Filed By The Revenue Against The Order Of Commissioner Of Income Tax (Appeals), Jammu Dated 31.03.2016. 2. The Sole Issue Involved In This Appeal Is That The Commissioner Of Income Tax (Appeals) Erred In Allowing The Deduction U/S 80Ib(4) Of The Income Tax Act, 1961 In Respect Of Samba Unit As The Same Was Claimed To Inflate The Profit Of Eligible Unit For The Motive Of Availing Deduction U/S 80Ib.

13). For the sake of convenience section 80-1A(10) is reproduced: Where it appears to the Assessing Officer that, owing to the close connection between the assessee carrying on the eligible business to which this section applies and any other person, or for any other reason, the course of business between them is so arranged that the business

M/S. JAMMU DEVELOPMENT AUTHORITY,,JAMMU ( J&K) vs. THE DEPUTY COMMISSIONER OF INCOME TAX, 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.

price. Majority of lands under the occupation of JDA have been transferred by the State Govt., without charging any premium. Thus the contention of the assessee that - “It is an agency of Govt., created for development and not for purchase & sale of property. It is further brought to your kind notice that the authority s created have been capitalized

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.

price. Majority of lands under the occupation of JDA have been transferred by the State Govt., without charging any premium. Thus the contention of the assessee that - “It is an agency of Govt., created for development and not for purchase & sale of property. It is further brought to your kind notice that the authority s created have been capitalized

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

13 A.Y.2015-16 16. The Ld.Counsel for the assessee stated that all the facts being duly disclosed to the AO and the AO having taken a possible view on the issue, there was no error in the order of the AO merely because the Ld. Pr.CIT entertained another view on the issue. He referred to the decision of the apex court

INCOME TAX OFFICER, INCOME TAX OFFICE vs. VIKAS MEHRA, THE MALL

In the result, the appeal filed by the revenue is dismissed being devoid of

Bench: Sh. Manoj Kumar Aggarwal & Sh. Udayan Dasgupta

price index on purchase value, indexed cost comes to Rs 8.800/- and Rs.792,000/- respectively. But the appellant credited his account with amount of Rs.2.55,00,000/- instead of Rs 8,00,800/- without paying any tax Therefore the appellant was given final opportunity to explain as to why the amount

M/S. SATIA INDUSTRIES LIMITED,MUKTSAR vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1, BATHINDA

In the result, the appeal of the assessee bearing ITA No

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

transfer pricing issues in the case of any person having international transactions or in case of a foreign company. It has been provided under sub-section (8) of section 144C that DRP may confirm, reduce or enhance the variations proposed in the draft order of the Assessing Officer. I.T.A. No.193/Asr/2022 36 Assessment Year: 2018-19 In a recent judgement