WARYAM STEEL CASTINGS PRIVATE LIMITED,LUDHIANA vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-4, LUDHIANA

In the result, appeal of the assessee is allowed and the Cross appeal of the Revenue is dismissed

Bench: SHRI. RAJPAL YADAV (Vice President), SHRI. KRINWANT SAHAY (Accountant Member)

270A, 271B, and 272A(1)(d) were initiated for under-reporting income, failure to file an audit report, and non-compliance with statutory notices, respectively. Interest under sections 234A, 234B, and 234C was also charged. 4. Against the order of the Ld. AO the assessee went in appeal before the Ld. CIT(A). The Ld. CIT(A) in the impugned

ASTT. COMMISSIONER OF INCOME TAX, CIRCLE-4, LUDHIANA, AAYAKAR BHAWAN vs. WARYAM STEEL CASTING PRIVATE LIMITED, KANGANWAL ROAD

In the result, appeal of the assessee is allowed and the Cross appeal of the Revenue is dismissed

Bench: SHRI. RAJPAL YADAV (Vice President), SHRI. KRINWANT SAHAY (Accountant Member)

270A, 271B, and 272A(1)(d) were initiated for under-reporting income, failure to file an audit report, and non-compliance with statutory notices, respectively. Interest under sections 234A, 234B, and 234C was also charged. 4. Against the order of the Ld. AO the assessee went in appeal before the Ld. CIT(A). The Ld. CIT(A) in the impugned

SMT. SHANKRI DEVI,PANCHKULA vs. ACIT, PANCKULA CIRCLE, PANCHKULA

Bench: SHRI. LALIET KUMAR (Judicial Member), SHRI. KRINWANT SAHAY (Accountant Member)

section 10(37) applies only to capital gains arising from transfer of agricultural land, and not to interest on delayed payment; that interest received on enhanced compensation is deemed to be taxable u/s 56(2)(viii) in the year of receipt; and that the assessee could not reduce income in a revised return while simultaneously claiming full TDS credit

BALBIR KUMAR HUF,CHANDIGARH vs. ITO , CHANDIGARH

Bench: SHRI. LALIET KUMAR (Judicial Member), SHRI. KRINWANT SAHAY (Accountant Member)

section 10(37) applies only to capital gains arising from transfer of agricultural land, and not to interest on delayed payment; that interest received on enhanced compensation is deemed to be taxable u/s 56(2)(viii) in the year of receipt; and that the assessee could not reduce income in a revised return while simultaneously claiming full TDS credit

SH. AMARDEEP SINGH ATHWAL,YAMUNANAGAR vs. ITO, WARD-1, YAMUNANAGAR

Bench: BEFORE: SHRI. LALIET KUMAR (Judicial Member), SHRI. KRINWANT SAHAY (Accountant Member)

section 10(37) applies only to capital gains arising from transfer of agricultural land, and not to interest on delayed payment; that interest received on enhanced compensation is deemed to be taxable u/s 56(2)(viii) in the year of receipt; and that the assessee could not reduce income in a revised return while simultaneously claiming full TDS credit

RANJIT SINGH,PANCHKULA vs. DEPUTY DIRECTOR, CPC DEPARTMENT

Bench: SHRI. LALIET KUMAR (Judicial Member), SHRI. KRINWANT SAHAY (Accountant Member)

section 10(37) applies only to capital gains arising from transfer of agricultural land, and not to interest on delayed payment; that interest received on enhanced compensation is deemed to be taxable u/s 56(2)(viii) in the year of receipt; and that the assessee could not reduce income in a revised return while simultaneously claiming full TDS credit

SAROJ CHAUDHARY BALA,PANCHKULA vs. ITO, WARD-4, PANCHKULA

Bench: SHRI. LALIET KUMAR (Judicial Member), SHRI. KRINWANT SAHAY (Accountant Member)

section 10(37) applies only to capital gains arising from transfer of agricultural land, and not to interest on delayed payment; that interest received on enhanced compensation is deemed to be taxable u/s 56(2)(viii) in the year of receipt; and that the assessee could not reduce income in a revised return while simultaneously claiming full TDS credit

INCOME TAX OFFICER, FATEHABAD vs. MAHESH NAGPAL, FATEHABAD

Bench: SHRI. LALIET KUMAR (Judicial Member), SHRI. KRINWANT SAHAY (Accountant Member)

section 10(37) applies only to capital gains arising from transfer of agricultural land, and not to interest on delayed payment; that interest received on enhanced compensation is deemed to be taxable u/s 56(2)(viii) in the year of receipt; and that the assessee could not reduce income in a revised return while simultaneously claiming full TDS credit

ARJESH KUMAR,PATIALA vs. ITO NATIONAL E-ASSESSMENT CENTRE , DELHI

section 10(37) applies only to capital gains arising from transfer of agricultural land, and not to interest on delayed payment; that interest received on enhanced compensation is deemed to be taxable u/s 56(2)(viii) in the year of receipt; and that the assessee could not reduce income in a revised return while simultaneously claiming full TDS credit

PAWAN KUMAR,FATEHABAD vs. INCOME TAX OFFICER WARD-1, FATEHABAD

Bench: SHRI. LALIET KUMAR (Judicial Member), SHRI. KRINWANT SAHAY (Accountant Member)

section 10(37) applies only to capital gains arising from transfer of agricultural land, and not to interest on delayed payment; that interest received on enhanced compensation is deemed to be taxable u/s 56(2)(viii) in the year of receipt; and that the assessee could not reduce income in a revised return while simultaneously claiming full TDS credit

SH. AMARDEEP SINGH ATHWAL,YAMUNANAGAR vs. ITO, WARD-1, YAMUNANAGAR

Bench: SHRI. LALIET KUMAR (Judicial Member), SHRI. KRINWANT SAHAY (Accountant Member)

section 10(37) applies only to capital gains arising from transfer of agricultural land, and not to interest on delayed payment; that interest received on enhanced compensation is deemed to be taxable u/s 56(2)(viii) in the year of receipt; and that the assessee could not reduce income in a revised return while simultaneously claiming full TDS credit

SH. RAMESH CHAND,JAGADHRI vs. ITO, WARD-3, YAMUNA NAGAR

section 10(37) applies only to capital\ngains arising from transfer of agricultural land, and not to interest on delayed\npayment; that interest received on enhanced compensation is deemed to\nbe taxable u/s 56(2)(viii) in the year of receipt; and that the assessee could\nnot reduce income in a revised return while simultaneously claiming full TDS\ncredit

M/S YOGRAJ CHAUDHARY,YAMUNA NAGAR vs. ITO, WARD-5, YAMUNA NAGAR

section 10(37) applies only to capital\ngains arising from transfer of agricultural land, and not to interest on delayed\npayment; that interest received on enhanced compensation is deemed to\nbe taxable u/s 56(2)(viii) in the year of receipt; and that the assessee could\nnot reduce income in a revised return while simultaneously claiming full TDS\ncredit

INCOME TAX OFFICER, AMBALA vs. NACHHATAR SINGH, AMBALA CANTT

section 10(37) applies only to capital\ngains arising from transfer of agricultural land, and not to interest on delayed\npayment; that interest received on enhanced compensation is deemed to\nbe taxable u/s 56(2)(viii) in the year of receipt; and that the assessee could\nnot reduce income in a revised return while simultaneously claiming full TDS\ncredit

BALVINDER SINGH,FATEHABAD vs. ITO WARD-1, FATEHABAD

section 10(37) applies only to capital\ngains arising from transfer of agricultural land, and not to interest on delayed\npayment; that interest received on enhanced compensation is deemed to\nbe taxable u/s 56(2)(viii) in the year of receipt; and that the assessee could\nnot reduce income in a revised return while simultaneously claiming full TDS\ncredit

SAT PAL,CHANDIGARH vs. INCOME TAX OFFICER, WARD 5(5), , CHANDIGARH

section 10(37) applies only to capital\ngains arising from transfer of agricultural land, and not to interest on delayed\npayment; that interest received on enhanced compensation is deemed to\nbe taxable u/s 56(2)(viii) in the year of receipt; and that the assessee could\nnot reduce income in a revised return while simultaneously claiming full TDS\ncredit

RAJBIR SINGH,VILL. GARHI BANJARA vs. ITO, WARD-3, YAMUNANAGAR

section 10(37) applies only to capital\ngains arising from transfer of agricultural land, and not to interest on delayed\npayment; that interest received on enhanced compensation is deemed to\nbe taxable u/s 56(2)(viii) in the year of receipt; and that the assessee could\nnot reduce income in a revised return while simultaneously claiming full TDS\ncredit

AMRINDER SINGH KHUBBER,AMBALA vs. ITO, W-5, AMBALA

Accordingly, finding no merit in the appeals, the same are hereby\ndismissed

section 10(37) applies only to capital\ngains arising from transfer of agricultural land, and not to interest on delayed\npayment; that interest received on enhanced compensation is deemed to\nbe taxable u/s 56(2)(viii) in the year of receipt; and that the assessee could\nnot reduce income in a revised return while simultaneously claiming full TDS\ncredit

SH. RAM LAL,CHANDIGARH vs. ITO, WARD-6(1), CHANDIGARH

section 10(37) applies only to capital\ngains arising from transfer of agricultural land, and not to interest on delayed\npayment; that interest received on enhanced compensation is deemed to\nbe taxable u/s 56(2)(viii) in the year of receipt; and that the assessee could\nnot reduce income in a revised return while simultaneously claiming full TDS\ncredit