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

M/S JAIN AMAR CLOTHING PVT. LTD.,LUDHIANA vs. DCIT, CC-III, LUDHIANA

In the result, the ground no

Bench: SHRI. AAKASH DEEP JAIN (Vice President), SHRI. VIKRAM SINGH YADAV (Accountant Member)

234 wherein it was held that neither under section 132 or under section 153A, phraseology “incriminating” has been used by Parliament, it was held by the AO that any material found in search or statement recorded in search is a valuable piece of evidence. Further, referring to the decision of Hon’ble Delhi High Court in case of Kabul Chawla

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

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

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

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, 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

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

M/S TJR PROPERTIES PVT. LTD.,CHANDIGARH vs. ACIT, CC-2, CHANDIGARH

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

234 of the paperbook of the assessee company before CIT(A). At three different pages of the CIT(A) order the CIT(A) is himself acknowledging the submission of copy of account by the company while deciding the case the CIT(A) has wrongly taken the plea that no documentary evidence was submitted by the company during the appellate proceedings

ACIT, CC-2, CHANDIGARH vs. M/S TJR PROPERTIES PVT. LTD., CHANDIGARH

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

234 of the paperbook of the assessee company before CIT(A). At three different pages of the CIT(A) order the CIT(A) is himself acknowledging the submission of copy of account by the company while deciding the case the CIT(A) has wrongly taken the plea that no documentary evidence was submitted by the company during the appellate proceedings

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)

Capital and Debt Market Ltd. v. ACIT: 118 TTJ 351 (Mum ITAT) - Angel Commodities Broking (P.) Ltd. v. DCIT: 164 TTJ 275 (Mum ITAT) - FedEx Express Transportation & Supply Chain Services India (P.) Ltd. v. DCIT: 169 TTJ 732 (Mum. Trib.) - Bhavik Rajesh Khandra Share and Stock Brokers (P) Ltd. vs DCIT: 8 ITR(Trib) 155 (Mum. Trib) - Kisan Ratilal Choksey

IND SWIFT LABORATORIES LTD.,CHANDIGARH vs. DCIT, CIRCLE 1(1), CHANDIGARH

In the result, the appeal is allowed, as indicated

Bench: SHRI A.D.JAIN (Vice President), SHRI KRINWANT SAHAY (Accountant Member)

gains"; that it has been held in 'SA Builders Limited' (supra) that when the assessee borrowed the fund from the bank and lent some of it to its sister concern as an interest free loan, then the real test to allow the interest as deduction under section 36(1)(iii) the Act is whether this was done as a measure