ACIT, LUDHIANA vs. M/S MRS. BECTORS FOOD SPECIALTIES PVT. LTD., LUDHIANA

Bench: Smt. Diva Singh & Dr. B.R.R. Kumar

14A of the Income Tax Act, 1961. 9.16 Following the judgment of the Vireet Investments Pvt. Ltd(supra)we hereby direct that the disallowance made be deleted. 9.17 As a result this ground of appeal of the Assessee is allowed. 10. Issue of Sales Tax Subsidy A.Y. 2008-09: Ground No. 2 of the Assessee’s appeal (Additional Ground) – Transport

ASSTT.COMMISSIONER OF INCOME TAX, LUDHIANA vs. M/S MRS.BECTORS FOOD SPECILTIES LTD, LUDHIANA

Bench: Smt. Diva Singh & Dr. B.R.R. Kumar

14A of the Income Tax Act, 1961. 9.16 Following the judgment of the Vireet Investments Pvt. Ltd(supra)we hereby direct that the disallowance made be deleted. 9.17 As a result this ground of appeal of the Assessee is allowed. 10. Issue of Sales Tax Subsidy A.Y. 2008-09: Ground No. 2 of the Assessee’s appeal (Additional Ground) – Transport

ASSTT.COMMISSIONER OF INCOME TAX, LUDHIANA vs. M/S MRS.BECTORS FOOD SPECILTIES LTD, LUDHIANA

Bench: Smt. Diva Singh & Dr. B.R.R. Kumar

14A of the Income Tax Act, 1961. 9.16 Following the judgment of the Vireet Investments Pvt. Ltd(supra)we hereby direct that the disallowance made be deleted. 9.17 As a result this ground of appeal of the Assessee is allowed. 10. Issue of Sales Tax Subsidy A.Y. 2008-09: Ground No. 2 of the Assessee’s appeal (Additional Ground) – Transport

ASSTT.COMMISSIONER OF INCOME TAX, LUDHIANA vs. M/S MRS.BECTORS FOOD SPECILTIES LTD, LUDHIANA

Bench: Smt. Diva Singh & Dr. B.R.R. Kumar

14A of the Income Tax Act, 1961. 9.16 Following the judgment of the Vireet Investments Pvt. Ltd(supra)we hereby direct that the disallowance made be deleted. 9.17 As a result this ground of appeal of the Assessee is allowed. 10. Issue of Sales Tax Subsidy A.Y. 2008-09: Ground No. 2 of the Assessee’s appeal (Additional Ground) – Transport

DCIT, C-V, LUDHIANA vs. M/S HERO CYCLES LTD., LUDHIANA

In the result, appeal of the Department is dismissed and the appeal of the assessee is allowed

Bench: SHRI. RAJPAL YADAV (Vice President), SHRI. KRINWANT SAHAY, AM आयकर अपील सं. / ITA No. 588/Chd/2018 निर्धारण वर्ष / Assessment Years : 2012-13 The DCIT C-V, Ludhiana बनाम M/s Hero Cycles Ltd. Hero Nagar, G.T. Road Ludhiana स्थायी लेखा सं./PAN NO: AAACH4073P अपीलार्थी/Appellant प्रत्यर्थी / Respondent आयकर अपील सं. / ITA No. 473/Chd/2018 निर्धारण वर्ष / Assessment Years : 2012-13 M/s Hero Cycles Ltd. Hero Nagar, G.T. Road Ludhiana बनाम The ACIT C-V, Ludhiana स्थायी लेखा सं./PAN NO: AAACH4073P

2 to 15 of the assessment order dt. 03/03/2015, avoiding repetition the same is not being reproduced herein. The A.O. after considering the submission of the assesse invoked the provisions of section 14A of the Act read with Rule 8D of the Income Tax Rules 1962. The A.O. worked out the disallowance under section 14A of the Act at Rs.14

DY. COMMISSIONER OF INCOME TAX, CIRCLE-4,, AAYAKAR BHAWAN vs. ROCKMAN INDUSTRIES LIMITED, -

In the result order of CIT(A) is sustained as passed and the appeal of the Revenue is partly allowed for statistical purposes

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

gains derived from eligible business and couple of other orders / decisions / judgement of other High Courts too enumerated in the impugned order we do not find any justifiable and plausible argument is canvassed by Revenue in appeal on meritorious grounds to dislodge the impugned order. Further assessee has placed reliance on decision of this Tribunal that too in there

DY. COMMISSIONER OF INCOME TAX, CIRCLE-4, AAYAKAR BHAWAN vs. ROCKMAN INDUSTRIES LIMITED, -

In the result order of CIT(A) is sustained as passed and the appeal of the Revenue is partly allowed for statistical purposes

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

gains derived from eligible business and couple of other orders / decisions / judgement of other High Courts too enumerated in the impugned order we do not find any justifiable and plausible argument is canvassed by Revenue in appeal on meritorious grounds to dislodge the impugned order. Further assessee has placed reliance on decision of this Tribunal that too in there

DY. COMMISSIONER OF INCOME TAX, AAYAKAR BHAWAN vs. ROCKMAN INDUSTRIES LIMITED, FOCAL POINT

In the result order of CIT(A) is sustained as passed and the appeal of the Revenue is partly allowed for statistical purposes

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

gains derived from eligible business and couple of other orders / decisions / judgement of other High Courts too enumerated in the impugned order we do not find any justifiable and plausible argument is canvassed by Revenue in appeal on meritorious grounds to dislodge the impugned order. Further assessee has placed reliance on decision of this Tribunal that too in there

DY. COMMISSIONER OF INCOME TAX, CIRCLE-4, LUDHIANA, - vs. ROCKMAN INDUSTRIES LTD, -

In the result order of CIT(A) is sustained as passed and the appeal of the Revenue is partly allowed for statistical purposes

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

gains derived from eligible business and couple of other orders / decisions / judgement of other High Courts too enumerated in the impugned order we do not find any justifiable and plausible argument is canvassed by Revenue in appeal on meritorious grounds to dislodge the impugned order. Further assessee has placed reliance on decision of this Tribunal that too in there

DCIT CIRCLE-4, LUDHIANA, LUDHIANA vs. ROCKMAN INDUSTRIES LTD, LUDHIANA

In the result order of CIT(A) is sustained as passed and the appeal of the Revenue is partly allowed for statistical purposes

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

gains derived from eligible business and couple of other orders / decisions / judgement of other High Courts too enumerated in the impugned order we do not find any justifiable and plausible argument is canvassed by Revenue in appeal on meritorious grounds to dislodge the impugned order. Further assessee has placed reliance on decision of this Tribunal that too in there

DY. COMMISSIONER OF INCOME TAX, CIRCLE-4, , AAYAKAR BHAWAN vs. ROCKMAN INDUSTRIES LIMITED, -

In the result order of CIT(A) is sustained as passed and the appeal of the Revenue is partly allowed for statistical purposes

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

gains derived from eligible business and couple of other orders / decisions / judgement of other High Courts too enumerated in the impugned order we do not find any justifiable and plausible argument is canvassed by Revenue in appeal on meritorious grounds to dislodge the impugned order. Further assessee has placed reliance on decision of this Tribunal that too in there

DY. COMMISSIONER OF INCOME TAX, CIRCLE-4, LUDHIANA, AAYAKAR BHAWAN vs. ROCKMAN INDUSTRIES LIMITED, -

In the result order of CIT(A) is sustained as passed and the appeal of the Revenue is partly allowed for statistical purposes

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

gains derived from eligible business and couple of other orders / decisions / judgement of other High Courts too enumerated in the impugned order we do not find any justifiable and plausible argument is canvassed by Revenue in appeal on meritorious grounds to dislodge the impugned order. Further assessee has placed reliance on decision of this Tribunal that too in there

ASSTT. COMMISSIONER OF INCOME TAX, CIRCLE-4, AAYAKAR BHAWAN vs. ROCKMAN INDUSTRIES LIMITED, -

In the result order of CIT(A) is sustained as passed and the appeal of the Revenue is partly allowed for statistical purposes

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

gains derived from eligible business and couple of other orders / decisions / judgement of other High Courts too enumerated in the impugned order we do not find any justifiable and plausible argument is canvassed by Revenue in appeal on meritorious grounds to dislodge the impugned order. Further assessee has placed reliance on decision of this Tribunal that too in there

M/S HERO INVESTMENT PVT. LTD.,LUDHIANA vs. DCIT, LUDHIANA

In the result, the appeal of the assessee is treated as partly allowed

Bench: Shri N.K. Saini & Shri Sanjay Gargआयकर अपील सं./ Ita No. 567/Chd/2015 "नधा"रण वष" / Assessment Year : 2010-11 M/S Hero Investment Pvt. Ltd., The Dcit, बनाम (Now Merged Into M/S Hero Moto Corp Circle V, Ltd.),Hero Nagar, G.T. Road, Ludhiana Ludhiana "थायी लेखा सं./Pan No: Aaach4072N अपीलाथ"/Appellant ""यथ"/Respondent

Capital Gain as "Business Income" and has failed to allow the administration & other expenses at Rs. 1,91,521/-which were disallowed in the Computation of Taxable Income. 5. That the learned CIT(A) has erred in wrongly considering the provisions of section 14A r.w. Rule 8D(iii) in respect of above expenditure even by treating the assessee

THE SHAHABAD COOP. SUGAR MILLS,SHAHABAD vs. ACIT, CIRCLE, KURUKSHETRA

Bench: Us In Terms Of Section 253 Of The Income Tax Act, 1961. 2. The Assessee Being Aggrieved By The Order Of Ld. Cit(A) Dt. 11/03/2018 Which Is Hereinafter Referred To As The Impugned Order, Before This Tribunal In Form No. 36 Has Interalia Raised The Following Grounds Of Appeal:

section 14A does not go behind intention of the assessee society. But purely considers whether exempt income is arisable or not. The expression 'income that does not form part of total income' implies not only on income that 'has not formed' part of total income in any given year, but also income that 'shall not' form part, of total income

DCIT, CIRCLE, PATIALA vs. M/S STATE BANK OF PATIALA, PATIALA

In the result the appeal of the revenue is dismissed

Bench: Ms. Diva Singh & Ms. Annapurna Guptaassessment Year: 2015-16

2)(i) will be confined to only direct expenses for earning the tax exempt income. In the present case also since there are no direct expenses incurred in earning the dividend the disallowance will come to nil. 16. In view of the above, ground raised by the assessee is allowed." 11. It is clear from the above that the ITAT

DCIT-CIRCLE, PARWANOO vs. M/S SHIVOM COTSPIN LTD., SIRMOUR

In the result, this appeal of the Revenue stands partly allowed

Bench: Shri Sanjay Garg & Ms. Annapurna Guptaआयकरअपीलसं./Ita No.560/Chd/2019 "नधा"रणवष" / Assessment Year :2015-16 Shivam Cotspin Limited, The Dcit, Circle, बनाम Village Kheri, Parwanoo Kala Amb, Trilokpur Road, Sirmour Himachal Pradesh "थायीलेखासं./Pan No: Aajs9111L अपीलाथ"/Appellant ""यथ"/Respondent

gains. . . . (8) for the purposes of this section,— …. (v) "Initial assessment year" means the assessment year relevant to the previous year in which the undertaking or the enterprise begins to manufacture or produce articles or things, or commences operation or completes substantial expansion; … (ix) "Substantial expansion" means increase in the investment in the plant and machinery by at least fifty

DCIT-CIRCLE, PARWANOO vs. M/S SHIVOM COTSPIN LTD., SIRMOUR

In the result, this appeal of the Revenue stands partly allowed

Bench: Shri Sanjay Garg & Ms. Annapurna Guptaआयकरअपीलसं./Ita No.560/Chd/2019 "नधा"रणवष" / Assessment Year :2015-16 Shivam Cotspin Limited, The Dcit, Circle, बनाम Village Kheri, Parwanoo Kala Amb, Trilokpur Road, Sirmour Himachal Pradesh "थायीलेखासं./Pan No: Aajs9111L अपीलाथ"/Appellant ""यथ"/Respondent

gains. . . . (8) for the purposes of this section,— …. (v) "Initial assessment year" means the assessment year relevant to the previous year in which the undertaking or the enterprise begins to manufacture or produce articles or things, or commences operation or completes substantial expansion; … (ix) "Substantial expansion" means increase in the investment in the plant and machinery by at least fifty