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

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

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

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

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

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE, PATIALA, PATIALA vs. PUNJAB STATE POWER CORPORATION LIMITED, PATIALA

In the result, both the appeals filed by the Revenue are partly allowed

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

10B, 10C and 10D of the notification dt. 24/12/2012 of Government of Punjab, the amount of GPF till 31/03/2013 and thereafter will be deposited in separate trust over a period of ten years and the company shall bear the interest from the transition period till the matter is settled through trust i.e; upto 31/03/2013 . 8. Regarding

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE, PATIALA vs. PUNJAB STATE POWER CORPORATION LIMITED, PATIALA

In the result, both the appeals filed by the Revenue are partly allowed

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

10B, 10C and 10D of the notification dt. 24/12/2012 of Government of Punjab, the amount of GPF till 31/03/2013 and thereafter will be deposited in separate trust over a period of ten years and the company shall bear the interest from the transition period till the matter is settled through trust i.e; upto 31/03/2013 . 8. Regarding

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

iii) That the Id. CIT(A) has erred in law and facts in directing the A.O. not to reduce foreign exchange fluctuation gain from eligible profits of units ITA Nos. 1429-c-10 & 35-C-2011- & 270 & 286-c-2011- M/s Vardhman Textiles ltd., Ludhiana 12 eligible for deduction u/s 80IB and 80IC and exemption u/s 10B

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

iii) That the Id. CIT(A) has erred in law and facts in directing the A.O. not to reduce foreign exchange fluctuation gain from eligible profits of units ITA Nos. 1429-c-10 & 35-C-2011- & 270 & 286-c-2011- M/s Vardhman Textiles ltd., Ludhiana 12 eligible for deduction u/s 80IB and 80IC and exemption u/s 10B

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

iii) That the Id. CIT(A) has erred in law and facts in directing the A.O. not to reduce foreign exchange fluctuation gain from eligible profits of units ITA Nos. 1429-c-10 & 35-C-2011- & 270 & 286-c-2011- M/s Vardhman Textiles ltd., Ludhiana 12 eligible for deduction u/s 80IB and 80IC and exemption u/s 10B

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

iii) That the Id. CIT(A) has erred in law and facts in directing the A.O. not to reduce foreign exchange fluctuation gain from eligible profits of units ITA Nos. 1429-c-10 & 35-C-2011- & 270 & 286-c-2011- M/s Vardhman Textiles ltd., Ludhiana 12 eligible for deduction u/s 80IB and 80IC and exemption u/s 10B

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

gains arising out of these agreements in form of franchisee fees for furtherance of educational purposes, it fulfilled requirements to qualify for exemption under section 10(23C)(vi)." The department filed appeal against the said order before the Supreme Court of India and the department SLP was dismissed by their Lordships reported in [2018] 100 taxmann.com 80 (SC). No instance

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

gains arising out of these agreements in form of franchisee fees for furtherance of educational purposes, it fulfilled requirements to qualify for exemption under section 10(23C)(vi)." The department filed appeal against the said order before the Supreme Court of India and the department SLP was dismissed by their Lordships reported in [2018] 100 taxmann.com 80 (SC). No instance

DCIT, C-1, LUDHIANA vs. M/S VARDHMAN TEXTILES LIMITED, LUDHIANA

The appeal of the Revenue is partly allowed for

Bench: Shri Sanjay Garg & Smt.Annapurna Guptaआयकर अपील सं./ Ita No.484 /Chd/2019 "नधा"रण वष" / Assessment Year : 2008-09

10B of the Act. 29. The Ld. Counsel for the assessee has submitted that the foreign exchange fluctuation gain is in respect of export receipts / receivable of the assessee and any gain in respect of receivable on account of foreign exchange fluctuation in fact contributes to the profits of the assessee from the sale/ export of the products. We find

M/S VARDHMAN TEXTILES LIMITED,LUDHIANA vs. ACIT, C-1, LUDHIANA

The appeal of the Revenue is partly allowed for

Bench: Shri Sanjay Garg & Smt.Annapurna Guptaआयकर अपील सं./ Ita No.484 /Chd/2019 "नधा"रण वष" / Assessment Year : 2008-09

10B of the Act. 29. The Ld. Counsel for the assessee has submitted that the foreign exchange fluctuation gain is in respect of export receipts / receivable of the assessee and any gain in respect of receivable on account of foreign exchange fluctuation in fact contributes to the profits of the assessee from the sale/ export of the products. We find