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

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

TDS deducted thereon, which was duly reflected in Form 26AS. A show-cause notice dated 10.12.2020 was issued, proposing to treat the interest as taxable u/s 56(2)(viii) read with section 145B(1). In reply, the assessee reiterated that interest u/s 28 forms part of compensation and is exempt. The AO, however, held that section 10(37

INCOME TAX OFFICER, FATEHABAD vs. MAHESH NAGPAL, FATEHABAD

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

TDS deducted thereon, which was duly reflected in Form 26AS. A show-cause notice dated 10.12.2020 was issued, proposing to treat the interest as taxable u/s 56(2)(viii) read with section 145B(1). In reply, the assessee reiterated that interest u/s 28 forms part of compensation and is exempt. The AO, however, held that section 10(37

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

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

TDS deducted thereon, which was duly reflected in Form 26AS. A show-cause notice dated 10.12.2020 was issued, proposing to treat the interest as taxable u/s 56(2)(viii) read with section 145B(1). In reply, the assessee reiterated that interest u/s 28 forms part of compensation and is exempt. The AO, however, held that section 10(37

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

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

TDS deducted thereon, which was duly reflected in Form 26AS. A show-cause notice dated 10.12.2020 was issued, proposing to treat the interest as taxable u/s 56(2)(viii) read with section 145B(1). In reply, the assessee reiterated that interest u/s 28 forms part of compensation and is exempt. The AO, however, held that section 10(37

BALBIR KUMAR HUF,CHANDIGARH vs. ITO , CHANDIGARH

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

TDS deducted thereon, which was duly reflected in Form 26AS. A show-cause notice dated 10.12.2020 was issued, proposing to treat the interest as taxable u/s 56(2)(viii) read with section 145B(1). In reply, the assessee reiterated that interest u/s 28 forms part of compensation and is exempt. The AO, however, held that section 10(37

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

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

TDS deducted thereon, which was duly reflected in Form 26AS. A show-cause notice dated 10.12.2020 was issued, proposing to treat the interest as taxable u/s 56(2)(viii) read with section 145B(1). In reply, the assessee reiterated that interest u/s 28 forms part of compensation and is exempt. The AO, however, held that section 10(37

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

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

TDS deducted thereon, which was duly reflected in Form 26AS. A show-cause notice dated 10.12.2020 was issued, proposing to treat the interest as taxable u/s 56(2)(viii) read with section 145B(1). In reply, the assessee reiterated that interest u/s 28 forms part of compensation and is exempt. The AO, however, held that section 10(37

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

TDS deducted thereon, which was duly reflected in Form 26AS. A show-cause notice dated 10.12.2020 was issued, proposing to treat the interest as taxable u/s 56(2)(viii) read with section 145B(1). In reply, the assessee reiterated that interest u/s 28 forms part of compensation and is exempt. The AO, however, held that section 10(37

M/S PUNJAB TOURISM DEVELOPMENET CORPORATION LIMITED,CHANDIGARH vs. DCIT,CIRCLE-1(1), CHANDIGARH

Appeal of the assessee is allowed

Bench: Ao)

TDS interest of Rs. 1,658/- (supra) and amount of Rs. 32,20,737/- (supra). The impugned assessment order of the ld. A.O. is dated 18.11.2016, wherein aggregate addition is of Rs. 52,70,767/-(supra amounts). Assessed loss is of Rs. 63,18,868/- against returned loss of (-)Rs. 1,15,89,635/-. 11. The Assessee being aggrieved

M/S PUNJAB TOURISM DEVELOPMENET CORPORATION LIMITED,CHANDIGARH vs. DCIT,CIRCLE-1(1), CHANDIGARH

Appeal of the assessee is allowed

Bench: Ao)

TDS interest of Rs. 1,658/- (supra) and amount of Rs. 32,20,737/- (supra). The impugned assessment order of the ld. A.O. is dated 18.11.2016, wherein aggregate addition is of Rs. 52,70,767/-(supra amounts). Assessed loss is of Rs. 63,18,868/- against returned loss of (-)Rs. 1,15,89,635/-. 11. The Assessee being aggrieved

M/S PUNJAB TOURISM DEVELOPMENET CORPORATION LIMITED,CHANDIGARH vs. DCIT,CIRCLE-1(1), CHANDIGARH

Appeal of the assessee is allowed

Bench: Ao)

TDS interest of Rs. 1,658/- (supra) and amount of Rs. 32,20,737/- (supra). The impugned assessment order of the ld. A.O. is dated 18.11.2016, wherein aggregate addition is of Rs. 52,70,767/-(supra amounts). Assessed loss is of Rs. 63,18,868/- against returned loss of (-)Rs. 1,15,89,635/-. 11. The Assessee being aggrieved

M/S PUNJAB TOURISM DEVELOPMENET CORPORATION LIMITED,CHANDIGARH vs. DCIT,CIRCLE-1(1), CHANDIGARH

Appeal of the assessee is allowed

Bench: Ao)

TDS interest of Rs. 1,658/- (supra) and amount of Rs. 32,20,737/- (supra). The impugned assessment order of the ld. A.O. is dated 18.11.2016, wherein aggregate addition is of Rs. 52,70,767/-(supra amounts). Assessed loss is of Rs. 63,18,868/- against returned loss of (-)Rs. 1,15,89,635/-. 11. The Assessee being aggrieved

KAKA SINGH ALIAS GULJAR SINGH,PATIALA vs. INCOME TAX OFFICER , PATIALA

TDS deducted thereon, which was duly reflected in Form\n26AS. A show-cause notice dated 10.12.2020 was issued, proposing to treat\n\n17\n\nthe interest as taxable u/s 56(2)(viii) read with section 145B(1). In reply, the\nassessee reiterated that interest u/s 28 forms part of compensation and is\nexempt. The AO, however, held that section

M/S STEEL STRIPS INFRASTRUCTURES LTD.,CHANDIGARH vs. ACIT, CC-II, CHANDIGARH

In the result, appeal of the Assessee is partly allowed

Bench: SHRI. RAJPAL YADAV (Vice President), SHRI. KRINWANT SAHAY, AM आयकर अपील सं. / ITA No. 732 /Chd/2018 निर्धारण वर्ष / Assessment Year : 2014-15 M/s Steel Strips Ltd. बनाम The Asst. CIT Central Circle-II Chandigarh SCO 49-50, Sector 26, Chandigarh स्थायी लेखा सं./PAN NO: AACCS5077J प्रत्यर्थी / Respondent अपीलार्थी/Appellant निर्धारिती की ओर से / Assessee by : Shri Ashwani Kumar, C.A, Ms. Muska Garg, C.A राजस्व की ओर से / Revenue by : Shri Ved Parkash Kalia, Sr. DR सुनवाई की तारीख/ Date of Hea

TDS was deducted on the advance payment. Further, the AO held that since the amount was shown as "Loans and Advances" in the balance sheet and the assessee was not engaged in money lending business, the amount was in the nature of capital expenditure and hence not allowable under Section 37(1

SH. AJIT SINGH,PINJORE vs. ITO, WARD-1, PANCHKULA

TDS deducted thereon, which was duly reflected in Form\n26AS. A show-cause notice dated 10.12.2020 was issued, proposing to treat\n17\nthe interest as taxable u/s 56(2)(viii) read with section 145B(1). In reply, the\nassessee reiterated that interest u/s 28 forms part of compensation and is\nexempt. The AO, however, held that section 10(37

GURDEEP SINGH HUF,CHANDIGARH vs. ITO, WARD 5(5), CHANDIGARH

TDS deducted thereon, which was duly reflected in Form\n26AS. A show-cause notice dated 10.12.2020 was issued, proposing to treat\n18\nthe interest as taxable u/s 56(2)(viii) read with section 145B(1). In reply, the\nassessee reiterated that interest u/s 28 forms part of compensation and is\nexempt. The AO, however, held that section 10(37

NARENDER KAUR,KURUKSHETRA, HARYANA vs. INCOME TAX OFFICER WARD-1 , KURUKSHETRA

TDS deducted thereon, which was duly reflected in Form\n26AS. A show-cause notice dated 10.12.2020 was issued, proposing to treat\nthe interest as taxable u/s 56(2)(viii) read with section 145B(1). In reply, the\nassessee reiterated that interest u/s 28 forms part of compensation and is\nexempt. The AO, however, held that section 10(37

BALJIT SINGH,AMBALA CITY vs. INCOME TAX OFFICER, WARD-1, AMBALA, AMBALA

TDS deducted thereon, which was duly reflected in Form\n26AS. A show-cause notice dated 10.12.2020 was issued, proposing to treat\n17\nthe interest as taxable u/s 56(2)(viii) read with section 145B(1). In reply, the\nassessee reiterated that interest u/s 28 forms part of compensation and is\nexempt. The AO, however, held that section 10(37