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

e) The consideration for transfer is a lump sum consideration. This consideration should be arrived at without assigning values to individual assets and liabilities. 35 A.Y.2015-16 The consideration may be discharged in cash or by issuing shares of Transferor Company. (f) Possibility of identification of price attributable to individual items (plant, machinery and dead stock) which are sold as part

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

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

e-filed its return of income for the year under consideration on 27.09.2008 declaring therein an income of Rs. 1,58,45,829/- after claiming deduction under section 80IB of the Act at Rs.56,37,834/- on the profits of the Unit-1 (factory premises) of the assessee company situated at G.T. Road, Suranussi, Jalandhar and under section

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

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

e-filed its return of income for the year under consideration on 27.09.2008 declaring therein an income of Rs. 1,58,45,829/- after claiming deduction under section 80IB of the Act at Rs.56,37,834/- on the profits of the Unit-1 (factory premises) of the assessee company situated at G.T. Road, Suranussi, Jalandhar and under section

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

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

e-filed its return of income for the year under consideration on 27.09.2008 declaring therein an income of Rs. 1,58,45,829/- after claiming deduction under section 80IB of the Act at Rs.56,37,834/- on the profits of the Unit-1 (factory premises) of the assessee company situated at G.T. Road, Suranussi, Jalandhar and under section

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

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

e-filed its return of income for the year under consideration on 27.09.2008 declaring therein an income of Rs. 1,58,45,829/- after claiming deduction under section 80IB of the Act at Rs.56,37,834/- on the profits of the Unit-1 (factory premises) of the assessee company situated at G.T. Road, Suranussi, Jalandhar and under section

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

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

e-filed its return of income for the year under consideration on 27.09.2008 declaring therein an income of Rs. 1,58,45,829/- after claiming deduction under section 80IB of the Act at Rs.56,37,834/- on the profits of the Unit-1 (factory premises) of the assessee company situated at G.T. Road, Suranussi, Jalandhar and under section

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

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

e-filed its return of income for the year under consideration on 27.09.2008 declaring therein an income of Rs. 1,58,45,829/- after claiming deduction under section 80IB of the Act at Rs.56,37,834/- on the profits of the Unit-1 (factory premises) of the assessee company situated at G.T. Road, Suranussi, Jalandhar and under section

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

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

e-filed its return of income for the year under consideration on 27.09.2008 declaring therein an income of Rs. 1,58,45,829/- after claiming deduction under section 80IB of the Act at Rs.56,37,834/- on the profits of the Unit-1 (factory premises) of the assessee company situated at G.T. Road, Suranussi, Jalandhar and under section

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

e. It is submitted that in order to encourage the use of renewable sources of energy, such as wind energy, solar energy, steam energy, etc., Ministry of New and Renewable Energy (‘MNRE’) issues transferable and saleable credit certificates under the Electricity Act, 2003, which are generally referred to as “Renewable Energy Certificates (‘RECs’)”. Such RECs are issued, under Central Electricity

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

2, 3 & 4 together and submitted that the AO has erred in making an addition of Rs. 6,66,54,028/-by reducing the sales value of steam and power to Rs. 56,08,22,355, contrary to the audited results declared at Rs. 62,74,76,383 by wrongly reducing the distribution and transmission loss from the unit price

SMT. INDERMEET BAINS W/O SH. D.S. BAINS,BATHINDA vs. PR. COMMISSIONER OF INCOME TAX , BATHINDA

The appeal of the assessee is disposed of in the term indicated as above

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

section 263 cannot be taken into consideration and the Assessing Officer having taken a plausible view, the assessment as framed by the Assessing Officer cannot be considered to be erroneous and prejudicial to the interest of revenue. 8. Again, the Ld. Counsel, relied upon the judgment of Jurisdictional Bench of ITAT Amritsar Bench, Amritsar in the case of Sh. Jaswinder

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

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 on 23.10.2018. In response, assessment proceedings were attended by representative of the assessee Sh. Jatinder Nagpal, Advocate from time to time and furnished the required information and placed on the record. During

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

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 on 23.10.2018. In response, assessment proceedings were attended by representative of the assessee Sh. Jatinder Nagpal, Advocate from time to time and furnished the required information and placed on the record. During

ASSISTANT COMMISSIONER OF INCOME TAX (CENTRAL CIRCLE), JAMMU vs. ANITA KAPAHI, JAMMU

In the result, the appeal of the revenue is dismissed being devoid of merits

Bench: Sh. Udayan Dasgupta & Sh. Krinwant Sahay

e-mail letter or its contents with assessee, inference that some additional income was earned by him by way of salary, was incorrectly drawn - Whether since document seized was both undated and unsigned and even taken at face value did not lead to further enquiry on behalf of Assessing 9 I.T.A. No.557/Asr/2024 Assessment Year: 2019-20 Officer, Impugned order

SMT. SATYAWATI MARWAHA THROUGH LEGAL HEIR SH. CHANDER SHEIKHAR MARWAHA,JALANDHAR vs. ASSISTANT COMMISSIONER OF INCOME TAX, JALANDHAR

In the result, the appeal for Asstt

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

e-return- AO noticed that there was escapement of income as Assessee had billed royalty under head other income-AO completed assessment u/s. 143(3) restricting TDS-Assessment was reopened to consider relevant TDS relating to income offered by assessee and income included in TDS certificate, which included share of other assessee also -CIT(A) confirmed action of AO-Held

SMT. SATYAWATI MARWAHA THROUGH LEGAL HEIR SH, CHANDER SHEIKHAR MARWAHA,JALANDHAR vs. ASSISTANT COMMISSIONER OF INCOME TAX, JALANDHAR

In the result, the appeal for Asstt

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

e-return- AO noticed that there was escapement of income as Assessee had billed royalty under head other income-AO completed assessment u/s. 143(3) restricting TDS-Assessment was reopened to consider relevant TDS relating to income offered by assessee and income included in TDS certificate, which included share of other assessee also -CIT(A) confirmed action of AO-Held

SHRI BHAVNOOR SINGH BEDI,JALANDHAR vs. ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-2, JALANDHAR

In the result, the appeal of the revenue, ITA No 90/Asr/2020 is dismissed

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

transferred and registration of 3 Kanal 10 Marla was executed on 18.05.2018 for Rs.42 lacs and the balance property including the building & others are still in possession & power of M/s. S. Amar Singh Educational Charitable Trust. The electricity bill of the institute is still in the name of GNA-IMT which, as per the AR, justifies the claims

SHRI BHAVNOOR SINGH BEDI,JALANDHAR vs. ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-2, JALANDHAR

In the result, the appeal of the revenue, ITA No 90/Asr/2020 is dismissed

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

transferred and registration of 3 Kanal 10 Marla was executed on 18.05.2018 for Rs.42 lacs and the balance property including the building & others are still in possession & power of M/s. S. Amar Singh Educational Charitable Trust. The electricity bill of the institute is still in the name of GNA-IMT which, as per the AR, justifies the claims

DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1, JALANDHAR vs. SHRI BHAVNOOR SINGH BEDI, JALANDHAR

In the result, the appeal of the revenue, ITA No 90/Asr/2020 is dismissed

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

transferred and registration of 3 Kanal 10 Marla was executed on 18.05.2018 for Rs.42 lacs and the balance property including the building & others are still in possession & power of M/s. S. Amar Singh Educational Charitable Trust. The electricity bill of the institute is still in the name of GNA-IMT which, as per the AR, justifies the claims