SH. RAJIV GARG,LUDHIANA vs. DCIT, CENTRAL CIRCLE -2, LUDHIANA

In the result, the appeal of the assessee is allowed

10B of ITR-3 Form). It was further submitted that there was also a Brought Forward Long-Term Capital Loss of Rs. 35,38,925/-for A.Y. 2019-20, thus the Long-Term Capital Gain of Rs. 5,79,703/- was set-off with this Brought Forward Long-Term Capital Loss. Hence, Long-Term Capital Loss carried forward to future

M/S VARDHMAN TEXTILES LTD.,,LUDHIANA vs. ADDL. CIT,, LUDHIANA

In the result appeals of the Assessee and the Revenue are partly allowed

Bench: Smt. Diva Singh & Dr. B.R.R. Kumarassessment Year: 2002-03

section 10B(6) (iii). 3(a) That the Ld. CIT (A) has erred in law & facts in directing the A. O. to treat the gain on forex fluctuation to be the income eligible for deduction u/s 10B. 3(b) That the Ld. CIT (A) has erred in law & facts in directing the A. O. to treat the interest received from

ACIT,, LUDHIANA vs. M/S VARDHMAN TEXTILES LTD.,, LUDHIANA

In the result appeals of the Assessee and the Revenue are partly allowed

Bench: Smt. Diva Singh & Dr. B.R.R. Kumarassessment Year: 2002-03

section 10B(6) (iii). 3(a) That the Ld. CIT (A) has erred in law & facts in directing the A. O. to treat the gain on forex fluctuation to be the income eligible for deduction u/s 10B. 3(b) That the Ld. CIT (A) has erred in law & facts in directing the A. O. to treat the interest received from

M/S VARDHMAN TEXTILES LTD.,LUDHIANA vs. ACIT, LUDHIANA

In the result appeals of the Assessee and the Revenue are partly allowed

Bench: Smt. Diva Singh & Dr. B.R.R. Kumarassessment Year: 2002-03

section 10B(6) (iii). 3(a) That the Ld. CIT (A) has erred in law & facts in directing the A. O. to treat the gain on forex fluctuation to be the income eligible for deduction u/s 10B. 3(b) That the Ld. CIT (A) has erred in law & facts in directing the A. O. to treat the interest received from

ACIT,, LUDHIANA vs. M/S VARDHMAN TEXTILES LTD.,, LUDHIANA

In the result appeals of the Assessee and the Revenue are partly allowed

Bench: Smt. Diva Singh & Dr. B.R.R. Kumarassessment Year: 2002-03

section 10B(6) (iii). 3(a) That the Ld. CIT (A) has erred in law & facts in directing the A. O. to treat the gain on forex fluctuation to be the income eligible for deduction u/s 10B. 3(b) That the Ld. CIT (A) has erred in law & facts in directing the A. O. to treat the interest received from

VARDHMAN TEXTILE LTD.,LUDHIANA vs. ACIT, LUDHIANA

In the result appeals of the Assessee and the Revenue are partly allowed

Bench: Smt. Diva Singh & Dr. B.R.R. Kumarassessment Year: 2002-03

section 10B(6) (iii). 3(a) That the Ld. CIT (A) has erred in law & facts in directing the A. O. to treat the gain on forex fluctuation to be the income eligible for deduction u/s 10B. 3(b) That the Ld. CIT (A) has erred in law & facts in directing the A. O. to treat the interest received from

ACIT, LUDHIANA vs. VARDHMAN TEXTILES LTD., LUDHIANA

In the result appeals of the Assessee and the Revenue are partly allowed

Bench: Smt. Diva Singh & Dr. B.R.R. Kumarassessment Year: 2002-03

section 10B(6) (iii). 3(a) That the Ld. CIT (A) has erred in law & facts in directing the A. O. to treat the gain on forex fluctuation to be the income eligible for deduction u/s 10B. 3(b) That the Ld. CIT (A) has erred in law & facts in directing the A. O. to treat the interest received from

ACIT, LUDHIANA vs. M/S VARDHMAN TEXTILES LTD., LUDHIANA

In the result appeals of the Assessee and the Revenue are partly allowed

Bench: Smt. Diva Singh & Dr. B.R.R. Kumarassessment Year: 2002-03

section 10B(6) (iii). 3(a) That the Ld. CIT (A) has erred in law & facts in directing the A. O. to treat the gain on forex fluctuation to be the income eligible for deduction u/s 10B. 3(b) That the Ld. CIT (A) has erred in law & facts in directing the A. O. to treat the interest received from

VARDHMAN TEXTILES LTD.,,LUDHIANA vs. JCIT,, LUDHIANA

In the result appeals of the Assessee and the Revenue are partly allowed

Bench: Smt. Diva Singh & Dr. B.R.R. Kumarassessment Year: 2002-03

section 10B(6) (iii). 3(a) That the Ld. CIT (A) has erred in law & facts in directing the A. O. to treat the gain on forex fluctuation to be the income eligible for deduction u/s 10B. 3(b) That the Ld. CIT (A) has erred in law & facts in directing the A. O. to treat the interest received from

CT EDUCATIONAL SOCIETY,JALANDHAR vs. DCIT, CHANDIGARH

In the result, the appeal filed by the Assessee is Partly Allowed for\nStatistical Purposes as per the directions above

gains of business unless\nbusiness was incidental to attainment of objectives of trust and separate books of\naccounts were maintained in respect of such business—It was not case of\nrevenue that hostel was rented out to outsider or transport facility was also\nprovided to outsider—Providing hostel to students and staff working for society\nwas incidental to achieve object

M/S ASHA TECHNOLOGIES,SIRMOUR vs. ADDL. CIT, SOLAN

In the result, both the above appeals of the Assessee are partly allowed as aforesaid in respect of impugned orders dt

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

capital account and Rs. 11,00,000/- in the name of M/s. Asha Telecom Pvt. Ltd. as liabilities. But it did not furnish any information regarding sources of these credits and neither any confirmation from M/s. Asha Telecom Pvt. Ltd. was furnished. Similarly, Para 8 of the questionnaire remained unanswered. Vide Para 9 of its reply, it was stated that

M/S ASHA TECHNOLOGIES,KALA AMB vs. ITO, SIRMOUR

In the result, both the above appeals of the Assessee are partly allowed as aforesaid in respect of impugned orders dt

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

capital account and Rs. 11,00,000/- in the name of M/s. Asha Telecom Pvt. Ltd. as liabilities. But it did not furnish any information regarding sources of these credits and neither any confirmation from M/s. Asha Telecom Pvt. Ltd. was furnished. Similarly, Para 8 of the questionnaire remained unanswered. Vide Para 9 of its reply, it was stated that

VARDHMAN TEXTILE LTD.,LUDHIANA vs. ADDL. CIT, LUDHIANA

Bench: Shri Sanjay Garg & Ms. Annapurna Guptaआयकर अपील सं./ Ita Nos. 1429/Chd/2010 "नधा"रण वष" / Assessment Years : 2006-07 Vardhman Textiles Limited, The Addl.Cit, Range- 1, बनाम Ludhiana Chandigarh Road, Ludhiana "थायी लेखा सं./Pan No: Aabcm4692E Appeal Against The Order Of Cit(A)-1, Ludhiana Dated 15.10.2010

section 14A of The Income Tax Act w.r.t. dividend income earned by the assessee. 8. That the Ld. CIT(A) erred in law and on the facts while confirming the action of Ld.AO for disallowing foreign traveling expenses of wife of Chairman & Managing Director amounting to Rs. 11,46,863/-. 9. That the Ld. CIT(A) erred

ACIT, LUDHIANA vs. M/S VARDHMAN TEXTILES LTD., LUDHIANA

Bench: Shri Sanjay Garg & Ms. Annapurna Guptaआयकर अपील सं./ Ita Nos. 1429/Chd/2010 "नधा"रण वष" / Assessment Years : 2006-07 Vardhman Textiles Limited, The Addl.Cit, Range- 1, बनाम Ludhiana Chandigarh Road, Ludhiana "थायी लेखा सं./Pan No: Aabcm4692E Appeal Against The Order Of Cit(A)-1, Ludhiana Dated 15.10.2010

section 14A of The Income Tax Act w.r.t. dividend income earned by the assessee. 8. That the Ld. CIT(A) erred in law and on the facts while confirming the action of Ld.AO for disallowing foreign traveling expenses of wife of Chairman & Managing Director amounting to Rs. 11,46,863/-. 9. That the Ld. CIT(A) erred

VARDHMAN TEXTILES LTD,LUDHIANA vs. ADDITIONAL COMMISSIONER OF INCOME TAX, LUDHIANA

Bench: Shri Sanjay Garg & Ms. Annapurna Guptaआयकर अपील सं./ Ita Nos. 1429/Chd/2010 "नधा"रण वष" / Assessment Years : 2006-07 Vardhman Textiles Limited, The Addl.Cit, Range- 1, बनाम Ludhiana Chandigarh Road, Ludhiana "थायी लेखा सं./Pan No: Aabcm4692E Appeal Against The Order Of Cit(A)-1, Ludhiana Dated 15.10.2010

section 14A of The Income Tax Act w.r.t. dividend income earned by the assessee. 8. That the Ld. CIT(A) erred in law and on the facts while confirming the action of Ld.AO for disallowing foreign traveling expenses of wife of Chairman & Managing Director amounting to Rs. 11,46,863/-. 9. That the Ld. CIT(A) erred

ACIT, LUDHIANA vs. M/S VARDHMAN TEXTILE LIMITED, LUDHIANA

Bench: Shri Sanjay Garg & Ms. Annapurna Guptaआयकर अपील सं./ Ita Nos. 1429/Chd/2010 "नधा"रण वष" / Assessment Years : 2006-07 Vardhman Textiles Limited, The Addl.Cit, Range- 1, बनाम Ludhiana Chandigarh Road, Ludhiana "थायी लेखा सं./Pan No: Aabcm4692E Appeal Against The Order Of Cit(A)-1, Ludhiana Dated 15.10.2010

section 14A of The Income Tax Act w.r.t. dividend income earned by the assessee. 8. That the Ld. CIT(A) erred in law and on the facts while confirming the action of Ld.AO for disallowing foreign traveling expenses of wife of Chairman & Managing Director amounting to Rs. 11,46,863/-. 9. That the Ld. CIT(A) erred

D.C.I.T.,CIRCLE-1(EXEMPTION), CHANDIGARH vs. M/S OM PRAKASH BANSAL CHARITABLE TRUST, JAMMU

In the result, both the appeals filed by the Revenue are dismissed and both the Cross Objections filed by the assessee are allowed

1 (SC). In view of the aforementioned judicial decision, I hold that the application of surplus for capital investment is no ground to deny exemption to the appellant trust in so far the Assessing Officer could not point out any instance where the capital investment had been made for objectives other than those of the appellant trust. Further

D.C.I.T, CIRCLE-1(EXEMPTION), CHANDIGARH vs. M/S OM PRAKASH BANSAL CHARITABLE TRUST, JAMMU

In the result, both the appeals filed by the Revenue are dismissed and both the Cross Objections filed by the assessee are allowed

1 (SC). In view of the aforementioned judicial decision, I hold that the application of surplus for capital investment is no ground to deny exemption to the appellant trust in so far the Assessing Officer could not point out any instance where the capital investment had been made for objectives other than those of the appellant trust. Further