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

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

197/- on account of receipt under DEPB and of Rs. 76,27,636/- under the Duty Drawback u/s 10B of the Act after crediting the said receipts of the aforesaid amounts into the Profit & Loss Account under Sections 28(iiic) and 28(iiib) of the Act. The AO disallowed the aforesaid claim of deduction under section

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

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

197/- on account of receipt under DEPB and of Rs. 76,27,636/- under the Duty Drawback u/s 10B of the Act after crediting the said receipts of the aforesaid amounts into the Profit & Loss Account under Sections 28(iiic) and 28(iiib) of the Act. The AO disallowed the aforesaid claim of deduction under section

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

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

197/- on account of receipt under DEPB and of Rs. 76,27,636/- under the Duty Drawback u/s 10B of the Act after crediting the said receipts of the aforesaid amounts into the Profit & Loss Account under Sections 28(iiic) and 28(iiib) of the Act. The AO disallowed the aforesaid claim of deduction under section

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

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

197/- on account of receipt under DEPB and of Rs. 76,27,636/- under the Duty Drawback u/s 10B of the Act after crediting the said receipts of the aforesaid amounts into the Profit & Loss Account under Sections 28(iiic) and 28(iiib) of the Act. The AO disallowed the aforesaid claim of deduction under section

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

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

197/- on account of receipt under DEPB and of Rs. 76,27,636/- under the Duty Drawback u/s 10B of the Act after crediting the said receipts of the aforesaid amounts into the Profit & Loss Account under Sections 28(iiic) and 28(iiib) of the Act. The AO disallowed the aforesaid claim of deduction under section

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

197 CTR (MP) 680 : (2005) 276 ITR 368 (MP) set aside; CIT vs. Vippy Solvex Products (P) Ltd. (1997) 228 ITR 587 (MP) overruled; Chunnilal Onkarmal (P) Ltd. vs. CIT (1996) 135 CTR (MP) 1 : (1997) 224 ITR 233 (MP) distinguished. (Paras 7 & 11 to 14) Conclusion : Scope and ambit of a proceeding for rectification of an order under

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

197 CTR (MP) 680 : (2005) 276 ITR 368 (MP) set aside; CIT vs. Vippy Solvex Products (P) Ltd. (1997) 228 ITR 587 (MP) overruled; Chunnilal Onkarmal (P) Ltd. vs. CIT (1996) 135 CTR (MP) 1 : (1997) 224 ITR 233 (MP) distinguished. (Paras 7 & 11 to 14) Conclusion : Scope and ambit of a proceeding for rectification of an order under

MESERS GANESH RICE MILLS,MUKTSAR vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-II, BATHINDA

In the result the appeal of the assessee ITA No

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

transferred to the following concerns during the year itself on various dates- S.S. Enterprises, JalalabadRs.3,62,93,300/- Narinder Joson& Co., JalalabadRs.6,11,56,000/- Amrinder& Sons, Jalalabad Rs. 2,00,00,000/- Gurkirat Enterprises, Jalalabad Rs. 2,00,00,000/- Nawab Trading Rs. 1,07,06,700/- Josan Food Pvt. Ltd., Rs. 2,00,00,000/-” The ld. Counsel