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

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

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 of the Income Tax Act, 1961 because no reference was made for the aforesaid transaction 9 I.T.A. Nos. 477 & CO 32/Asr/2015 & Ors Asstt. CIT v. Broadways Overseas Ltd. & Ors 4. That the appellant craves leave

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 could not have taken cognizance suo moto of any international transaction for adjustment in the arm's length price u/s 92CA of the Income Tax Act, 1961 because no reference was made for the aforesaid transaction 9 I.T.A. Nos. 477 & CO 32/Asr/2015 & Ors Asstt. CIT v. Broadways Overseas Ltd. & Ors 4. That the appellant craves leave

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 could not have taken cognizance suo moto of any international transaction for adjustment in the arm's length price u/s 92CA of the Income Tax Act, 1961 because no reference was made for the aforesaid transaction 9 I.T.A. Nos. 477 & CO 32/Asr/2015 & Ors Asstt. CIT v. Broadways Overseas Ltd. & Ors 4. That the appellant craves leave

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 could not have taken cognizance suo moto of any international transaction for adjustment in the arm's length price u/s 92CA of the Income Tax Act, 1961 because no reference was made for the aforesaid transaction 9 I.T.A. Nos. 477 & CO 32/Asr/2015 & Ors Asstt. CIT v. Broadways Overseas Ltd. & Ors 4. That the appellant craves leave

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

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

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 of the Income Tax Act, 1961 because no reference was made for the aforesaid transaction 9 I.T.A. Nos. 477 & CO 32/Asr/2015 & Ors Asstt. CIT v. Broadways Overseas Ltd. & Ors 4. That the appellant craves leave

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 could not have taken cognizance suo moto of any international transaction for adjustment in the arm's length price u/s 92CA of the Income Tax Act, 1961 because no reference was made for the aforesaid transaction 9 I.T.A. Nos. 477 & CO 32/Asr/2015 & Ors Asstt. CIT v. Broadways Overseas Ltd. & Ors 4. That the appellant craves leave

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 could not have taken cognizance suo moto of any international transaction for adjustment in the arm's length price u/s 92CA of the Income Tax Act, 1961 because no reference was made for the aforesaid transaction 9 I.T.A. Nos. 477 & CO 32/Asr/2015 & Ors Asstt. CIT v. Broadways Overseas Ltd. & Ors 4. That the appellant craves leave

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

In the result, the appeal filed by assessee is allowed

143(1) Subsequently, Principal\nCommissioner invoked revision under section 263 on ground that a land was sold by\nassessee to an entity below value adopted by concerned authority for levy of stamp duty,\nand therefore, there was under-assessment of income to extent of differential amount, and\naccordingly, assessment made was contrary to provisions of section 50C as this aspect

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

3), 147, 273B Case pertains to Asst. Year1961-62, 1962-63, 1963-64, 1964-65 Decision in favour of: Assessee SUHAS CHANDRA SEN J 24. It was ultimately held by Chandurkar J. that : "The words 'regular assessment' which were to be found in sub-s. (9) of s. 18A of the Indian IT Act, 1922, have, no doubt, been construed

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

3), 147, 273B Case pertains to Asst. Year1961-62, 1962-63, 1963-64, 1964-65 Decision in favour of: Assessee SUHAS CHANDRA SEN J 24. It was ultimately held by Chandurkar J. that : "The words 'regular assessment' which were to be found in sub-s. (9) of s. 18A of the Indian IT Act, 1922, have, no doubt, been construed

ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE, AMRITSAR vs. M/S PUNJAB RICE LAND PRIVATE LIMITED, TARN TARAN

In the result, both the appeals of the revenue are dismissed and

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

section 151 of the Act." Notice u/s 148 of the I.T.Act,1961 was issued on 30.03.2018 and served on assessee on 30.03.2018. In response to the notice u/s 148, assessee e-filed his return on 26.12.2018 at a income of Rs. 77,66,950/-. Notice u/s 143(2) was issued on 15.10.2018, fixing the case for hearing

ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE, AMRITSAR vs. M/S PUNJAB RICE LAND PRIVATE LIMITED , TARN TARAN

In the result, both the appeals of the revenue are dismissed and

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

section 151 of the Act." Notice u/s 148 of the I.T.Act,1961 was issued on 30.03.2018 and served on assessee on 30.03.2018. In response to the notice u/s 148, assessee e-filed his return on 26.12.2018 at a income of Rs. 77,66,950/-. Notice u/s 143(2) was issued on 15.10.2018, fixing the case for hearing

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

143(3) r.w.s. 144C(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

M/S CITI PLAZA,JALANDHAR vs. INCOME TAX OFFICER , WARD 3(1), JALANDHAR

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

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

price of Rs.2,30,00,000/-, has wrongly been assessed and upheld in this case. I.T.A. No. 356/Asr/2017 3 Assessment Year: 2006-07 6. That the Id.CIT(A) was not justified in ignoring assessee's submissions that if at all the reopening was valid, the Id ITO could not have given a clean chit to other group of partners headed

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

143(3) of the Act was erroneous or prejudicial to the interest of revenue. 4. That the assumption of jurisdiction under section 263 is also bad in law since the PCIT has failed to demonstrate as to how any of the conditions prescribed in Explanation 2 to section action 263 of the Act stood satisfied on the facts

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

143(3)/147 on dated 21.03.2014, which had violated the limitation u/s 153(4) of the Act. As per the ld. counsel the order should be passed by the ld. AO within the 60 days after receiving the order of the Hon’ble High I.T.A. Nos. 15 to 22/Asr/2017 4 A.Ys.: 1984-85 to 1991-92 Court and the assessing

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

143(3)/147 on dated 21.03.2014, which had violated the limitation u/s 153(4) of the Act. As per the ld. counsel the order should be passed by the ld. AO within the 60 days after receiving the order of the Hon’ble High I.T.A. Nos. 15 to 22/Asr/2017 4 A.Ys.: 1984-85 to 1991-92 Court and the assessing

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

143(3)/147 on dated 21.03.2014, which had violated the limitation u/s 153(4) of the Act. As per the ld. counsel the order should be passed by the ld. AO within the 60 days after receiving the order of the Hon’ble High I.T.A. Nos. 15 to 22/Asr/2017 4 A.Ys.: 1984-85 to 1991-92 Court and the assessing