DCIT, C-1(1), CHANDIGARH vs. M/S STYLAM INDUSTRIES LTD., CHANDIGARH

In the result, the Department’s appeal in for assessment year

Bench: SHRI A.D.JAIN (Vice President), SHRI VIKRAM SINGH YADAV (Accountant Member)

272/- of interest free funds available with the assessee. It also remains undisputed that no borrowings were made for making the investments and, therefore, no expenditure had been incurred to earn any income and no dividend or other exempt incomes were earned for the investment. The stress of the AO has been on the fact that the provisions of Section

DCIT, C-1(1), CHANDIGARH vs. M/S STYLAM INDUSTRIES LTD., CHANDIGARH

In the result, the Department’s appeal in for assessment year

Bench: SHRI A.D.JAIN (Vice President), SHRI VIKRAM SINGH YADAV (Accountant Member)

272/- of interest free funds available with the assessee. It also remains undisputed that no borrowings were made for making the investments and, therefore, no expenditure had been incurred to earn any income and no dividend or other exempt incomes were earned for the investment. The stress of the AO has been on the fact that the provisions of Section

M/S STYLAM INDUSTRIES LTD.,CHANDIGARH vs. DCIT, C-1(1), CHANDIGARH

In the result, the Department’s appeal in for assessment year

Bench: SHRI A.D.JAIN (Vice President), SHRI VIKRAM SINGH YADAV (Accountant Member)

272/- of interest free funds available with the assessee. It also remains undisputed that no borrowings were made for making the investments and, therefore, no expenditure had been incurred to earn any income and no dividend or other exempt incomes were earned for the investment. The stress of the AO has been on the fact that the provisions of Section

M/S SUNDESH SPRINGS PVT. LTD.,LUDHIANA vs. DCIT, CC-I, LUDHIANA

In the result, the appeal of the assessee is allowed for statistical purposes

Bench: Shri Sanjay Garg & Dr. B.R.R. Kumarassessment Year: 2010-11

272 CTR 277 (All) wherein the Hon’ble High Courts have been unanimous to hold that disallowance under section 14A cannot exceed to tax exempt income earned by the assessee. Since for the year under consideration the assessee did not earn any tax exempt income, hence no disallowance on this issue is warranted and impugned addition made on this issue

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)

272/- under normal provisions and an income of Rs.62,98,757/- as per the provisions of Section 115JB of the Act. The AO was in receipt of information that per investigations carried out by DGGI, GST Intelligence, Delhi Zone and by the Investigation Wing of the Income Tax Department, it was determined that the said concern M/s Gauri Shankar Trading

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)

272/- under normal provisions and an income of Rs.62,98,757/- as per the provisions of Section 115JB of the Act. The AO was in receipt of information that per investigations carried out by DGGI, GST Intelligence, Delhi Zone and by the Investigation Wing of the Income Tax Department, it was determined that the said concern M/s Gauri Shankar Trading

S.P. SINGLA CONSTRUCTION PRIVATE LIMITED,DELHI vs. DEPUTY COMMISSIONER OF INCOME TAX, CHANDIGARH

In the result, the appeal is allowed

Bench: SHRI MAHAVIR SINGH (Vice President), SHRI KRINWANT SAHAY (Accountant Member)

TDS and proof of depositing the same was enclosed at assessee's Paper Book pages 1638- 1776. The ld. Counsel for the assessee stated that there are so many sub contractors and as per the alleged documents found from the premises of the Chartered Accountant Shri Gurinder Kumar Garg, the total parties are more than 150 which include the alleged

DCIT, C-1(1), CHANDIGARH vs. UNIPRO TECHNO INFRASTRUCTURE PRIVATE LIMITED, CHANDIGARH

In the result, appeal of the Department is dismissed

TDS) while granting certificate of lower deduction of tax, the Assessing Officer in the preceding and succeeding years, as also with the view taken by the Assessing Officer in the case of another assessee undertaking identical work, it cannot be said that any error had crept in the order of the Assessing Officer causing prejudice to the revenue and therefore

ACIT, CIRCLE 1(1), CHANDIGARH vs. M/S SML ISUZU LTD., CHANDIGARH

Bench: SHRI. VIKRAM SINGH YADAV (Accountant Member), SHRI. PARESH M. JOSHI (Judicial Member)

TDS particulars was wholly unjustified. [Para 7] As regards second ground for reopening the assessment, the dividend income received during the year was claimed as exempt and the same was accepted in the assessment order passed under section 143(3). The reason for reopening the assessment was that in the absence of particulars it could not be said that

M/S FASTWAY TRANSMISSION (P) LTD.,CHANDIGARH vs. ACIT, CHANDIGARH

In the result the captioned appeals of the assessee are

Bench: Shri N.K. Saini & Shri Sanjay Gargआयकर अपील सं./ Ita No.547/Chd/2017 "नधा"रण वष" / Assessment Year : 2013-14

section 35D of the Act. 46. The CIT(A) confirmed the disallowance so made by the A.O. 47. Before us, the Ld. counsel for assessee contended that may be the expenses incurred for acquiring lease rights of fibre links did not fall within the definition and scope of preliminary expenses under the provisions of section 35D, however the same were

M/S FASTWAY TRANSMISSION (P) LTD.,CHANDIGARH vs. DCIT, CC-II, CHANDIGARH

In the result the captioned appeals of the assessee are

Bench: Shri N.K. Saini & Shri Sanjay Gargआयकर अपील सं./ Ita No.547/Chd/2017 "नधा"रण वष" / Assessment Year : 2013-14

section 35D of the Act. 46. The CIT(A) confirmed the disallowance so made by the A.O. 47. Before us, the Ld. counsel for assessee contended that may be the expenses incurred for acquiring lease rights of fibre links did not fall within the definition and scope of preliminary expenses under the provisions of section 35D, however the same were

M/S FASTWAY TRANSMISSION (P) LTD.,CHANDIGARH vs. DCIT, CC-II, CHANDIGARH

In the result the captioned appeals of the assessee are

Bench: Shri N.K. Saini & Shri Sanjay Gargआयकर अपील सं./ Ita No.547/Chd/2017 "नधा"रण वष" / Assessment Year : 2013-14

section 35D of the Act. 46. The CIT(A) confirmed the disallowance so made by the A.O. 47. Before us, the Ld. counsel for assessee contended that may be the expenses incurred for acquiring lease rights of fibre links did not fall within the definition and scope of preliminary expenses under the provisions of section 35D, however the same were

M/S AUSTEES HYDRO POWER & CONSTRUCTION COMPANY (P) LTD.,BILASPUR vs. INCOME TAX OFFICER, BILASPUR

In the result, the appeal of the assessee is partly

Bench: Shri Sanjay Garg & Ms. Annapurna Guptam/S Austees Hydro Power & Vs. The Income Tax Officer, Construction Company (P) Ltd., Bilaspur Distt. Bilaspur Vpo Bahot Kasol, Tehsil Sadar, (Hp). Distt Bilaspur (Hp), Through Its Authorised Signatory Pan: Aafca8697M & The Income Tax Officer, Vs. M/S Austees Hydro Power & Bilaspur Distt. Bilaspur Construction Company (P) Ltd., (Hp). Vpo Bahot Kasol, Tehsil Sadar, Distt Bilaspur (Hp), Through Its Authorised Signatory Pan: Aafca8697M (Appellant) (Respondent)

section 244-A and 234-B. 234- 1) of the IT Act, without appreciating the circumstances and fact of the case and not giving any reason on what grounds the interest has been charged / imposed. On this ground also the appeal deserves to be allowed. I That the orders of the Ld. Commissioner of Income Tax (Appeals), Shimla as well

INCOME TAX OFFICER, BILASPUR vs. M/S AUSTEE HYDRO POWER & CONSTRUCTION COMPANY (P) LTD., BILASPUR

In the result, the appeal of the assessee is partly

Bench: Shri Sanjay Garg & Ms. Annapurna Guptam/S Austees Hydro Power & Vs. The Income Tax Officer, Construction Company (P) Ltd., Bilaspur Distt. Bilaspur Vpo Bahot Kasol, Tehsil Sadar, (Hp). Distt Bilaspur (Hp), Through Its Authorised Signatory Pan: Aafca8697M & The Income Tax Officer, Vs. M/S Austees Hydro Power & Bilaspur Distt. Bilaspur Construction Company (P) Ltd., (Hp). Vpo Bahot Kasol, Tehsil Sadar, Distt Bilaspur (Hp), Through Its Authorised Signatory Pan: Aafca8697M (Appellant) (Respondent)

section 244-A and 234-B. 234- 1) of the IT Act, without appreciating the circumstances and fact of the case and not giving any reason on what grounds the interest has been charged / imposed. On this ground also the appeal deserves to be allowed. I That the orders of the Ld. Commissioner of Income Tax (Appeals), Shimla as well

SH. GULSHAN KUMAR PROP. G.K. RESORTS,LUDHIANA vs. DCIT CIRCLE-2, LUDHIANA

In the result, the appeal of the assessee is allowed

Bench: Smt.Diva Singh & Shri Vikram Singh Yadavsh. Gulshan Kumar बनाम Deputy Commissioner Of Prop. G. K. Resorts House No. 3, Income Tax, Central Circle-2, Agar Nagar Extension, Ferospur Ludhiana Road, Ludhiana 1410212, Punjab "थायी लेखा सं./Pan No: Aaqpk1200Q

272/- should not be considered as unexplained cash credit and added to his income u/s 68 of the Act. In response to the show cause, the ITA No. 488-Chandi-2022 Shri. Gulshan Kumar assessee filed his submissions dated 24.12.2019 which were considered but not found acceptable to the Assessing Officer. As per the Assessing Officer, from the perusal