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

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

48,40,164/- made by the Assessing Officer to the income of the assessee company by way of Arms Length Price adjustments in respect of interest on loan in foreign currency is directed to be deleted. 10.5 As far as the other adjustment in respect of excess period credit in respect of receivables is concerned, the TPO after treating

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

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

48,40,164/- made by the Assessing Officer to the income of the assessee company by way of Arms Length Price adjustments in respect of interest on loan in foreign currency is directed to be deleted. 10.5 As far as the other adjustment in respect of excess period credit in respect of receivables is concerned, the TPO after treating

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

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

48,40,164/- made by the Assessing Officer to the income of the assessee company by way of Arms Length Price adjustments in respect of interest on loan in foreign currency is directed to be deleted. 10.5 As far as the other adjustment in respect of excess period credit in respect of receivables is concerned, the TPO after treating

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

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

48,40,164/- made by the Assessing Officer to the income of the assessee company by way of Arms Length Price adjustments in respect of interest on loan in foreign currency is directed to be deleted. 10.5 As far as the other adjustment in respect of excess period credit in respect of receivables is concerned, the TPO after treating

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

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

48,40,164/- made by the Assessing Officer to the income of the assessee company by way of Arms Length Price adjustments in respect of interest on loan in foreign currency is directed to be deleted. 10.5 As far as the other adjustment in respect of excess period credit in respect of receivables is concerned, the TPO after treating

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

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

48,40,164/- made by the Assessing Officer to the income of the assessee company by way of Arms Length Price adjustments in respect of interest on loan in foreign currency is directed to be deleted. 10.5 As far as the other adjustment in respect of excess period credit in respect of receivables is concerned, the TPO after treating

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

transferring manufactured electricity from C.P.P. unit to its other unit including electricity tax levied by State Electricity Board was price ordinarily prevailing in open market, and, therefore, Commissioner (Appeals) was not justified in disallowing assessee’s claim on said ground - Held, yes - Whether as regards second ground, incomes and expenditures which were not directly relatable to industrial unit 25 I.T.A

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

price. v) The Hon'ble Apex Court in the case of CIT Vs. George Handerson & Company Limited 66 ITR 622 has observed that full value of consideration for which the sale, exchange or transfer of the capital asset is made appearing in section 12B of Indian Income Tax Act, 1922 (corresponding to the present section 48

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

price. v) The Hon'ble Apex Court in the case of CIT Vs. George Handerson & Company Limited 66 ITR 622 has observed that full value of consideration for which the sale, exchange or transfer of the capital asset is made appearing in section 12B of Indian Income Tax Act, 1922 (corresponding to the present section 48

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

price. v) The Hon'ble Apex Court in the case of CIT Vs. George Handerson & Company Limited 66 ITR 622 has observed that full value of consideration for which the sale, exchange or transfer of the capital asset is made appearing in section 12B of Indian Income Tax Act, 1922 (corresponding to the present section 48

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

INCOME TAX OFFICER WARD-2 (2), MUKTSAR vs. AJAIB SINGH, VILLAGE BHARU

In the result, the appeal of the revenue is dismissed

Bench: Sh. Udayan Dasgupta & Sh. Krinwant Sahay(Hybrid Hearing) I.T.A. No. 354/Asr/2024 Assessment Year: 2012-13

section 54B is available for any land which is utilised for the purpose of agriculture for atleast two years immediately preceding the date on which the transfer took place. In the instant case it is not disputed that the appellant was cultivating the said land. The appellant in his written submissions has produced the revenue record as proof of doing

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

48 (-) 619768244) Short Term Capital Loss (-) 30618 Apart from these assessee had long term capital gain of Rs. 2,02,30,196/-and the same was disclosed in return of income. 4. That all the transactions were carried through proper banking channel and no cash transaction was involved. 5. Sir, it is brought to your knowledge that assessee regularly incurred

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

48 (-) 619768244) Short Term Capital Loss (-) 30618 Apart from these assessee had long term capital gain of Rs. 2,02,30,196/-and the same was disclosed in return of income. 4. That all the transactions were carried through proper banking channel and no cash transaction was involved. 5. Sir, it is brought to your knowledge that assessee regularly incurred

SHRI JASBIR SINGH ,AMRITSAR vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE, AMRITSAR

In the result, appeal of the assesseeITA No

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjeei.T.A. No. 133/Asr/2022 Assessment Year: 2019-20

price whichever is lower at the acquisition in the past. 4. That Ld. AO has not appreciated the fact that surrender was agreed in the hands of four persons to avoid litigation, buy peace and to make amicable settlement with the department. 5. That the Ld. AO erred under law and facts in making addition

NASA AGRO INDUSTRIES PRIVATE LIMITED,FAZILKA vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-II, BATHINDA

In the result, the appeal filed by the assessee is allowed for statistical purpose

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

transferred by the assessee to the M/s Devinder Kumar Deepesh Kumar ,as an accommodation entry for recording of bogus purchase, because 4 I.T.A. No. 236/Asr/2023 Assessment Year: 2011-12 as per the AO the physical movement of goods could not be proved, in absence of any Bilty, weighment slip of goods, octroi receipts, and in absence of any proof

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