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

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

92,129/- on account of disallowance under section 10B is rejected. 18. In the next issue, revenue has challenged that CIT(A) has ignored the findings of the TPO and applied LIBOR, for rate on interest advanced to Associate Enterprises in US and thereby deleting the addition of Rs. 1,48,40,164/- on account of interest on loan advanced

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

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

92,129/- on account of disallowance under section 10B is rejected. 18. In the next issue, revenue has challenged that CIT(A) has ignored the findings of the TPO and applied LIBOR, for rate on interest advanced to Associate Enterprises in US and thereby deleting the addition of Rs. 1,48,40,164/- on account of interest on loan advanced

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

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

92,129/- on account of disallowance under section 10B is rejected. 18. In the next issue, revenue has challenged that CIT(A) has ignored the findings of the TPO and applied LIBOR, for rate on interest advanced to Associate Enterprises in US and thereby deleting the addition of Rs. 1,48,40,164/- on account of interest on loan advanced

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

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

92,129/- on account of disallowance under section 10B is rejected. 18. In the next issue, revenue has challenged that CIT(A) has ignored the findings of the TPO and applied LIBOR, for rate on interest advanced to Associate Enterprises in US and thereby deleting the addition of Rs. 1,48,40,164/- on account of interest on loan advanced

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

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

92,129/- on account of disallowance under section 10B is rejected. 18. In the next issue, revenue has challenged that CIT(A) has ignored the findings of the TPO and applied LIBOR, for rate on interest advanced to Associate Enterprises in US and thereby deleting the addition of Rs. 1,48,40,164/- on account of interest on loan advanced

SATIA INDUSTRIES LIMITED,MUKTSAR, PUNJAB vs. DCIT, ACIT CIRCLE 1, BATHINDA

In the result, the appeal is partly allowed

Bench: Shri Udayan Das Gupta & Shri Krinwant Sahayआयकरअपीलसं./Ita No. 527/Asr/2024 िनधा"रणवष" / Assessment Year : 2020-21

92 KVAH is equivalent to 100 KWH. During the 527-Asr-2024 Satia Industries, Muktsar 14 hearing, the AR brought to the attention of the bench that the DRP had acknowledged this mistake in subsequent years and provided a copy of the directions issued by the DRP under Section 144C(5) for the assessment year 2021-22. i) The Authorized

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

1,67,11,295/, as the AD has already made an addition in respect of the difference in sales of power and steam separately, amounting to Rs. 6,66,54,028/-. 8. That the Assessing Officer (AO) has erred in confirming the disallowance to the extent of Rs. 51,74,713/- on the ground that the underlying expenditure

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

In the result, the appeal filed by assessee is allowed

92. The same figure was\nseparately shown in computation of total income at page 4. Hence\nsection 115BBE is not attracted. No stock register is maintained\nand this fact has also been given in the tax audit report by auditor\nin the form 3CB.\nThat the Ld. AO had issued various questionnaires along\nwith statutory notice

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

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

92,580/- and nil taxable income. 3.1 The Assessing Officer on scrutinising the sale deeds of the land sold by the Assessee noted that the land is mentioned as being agricultural. However, the Assessee had filed complained against the purchaser with the Additional Deputy Commissioner, Muktsar that they have got the land registered on a very low rate than