DEVI DAYAL,KAITHAL vs. INCOME TAX OFFICER, WARD-1 , KAITHAL

In the result, appeal is allowed

Bench: Shri Rajpal Yadav & Shri Krinwant Sahayआयकर अपील सं./ Ita No. 899/Chd/2024 "नधा"रण वष" / Assessment Year: 2008-09 Shri Devi Dayal, Vs The Ito, Pundri Anaj Mandi, Ward – 1, Kaithal-Haryana 136026. Kaithal. "थायी लेखा सं./Pan No: Aajpd5851H अपीलाथ"/Appellant ""यथ"/Respondent Assessee By : Shri Parikshit Aggarwal, Ca & Ms. Shruti Khandelwal, Advocate Revenue By : Shri Manav Bansal, Cit, Dr Date Of Hearing : 30.07.2025 Date Of Pronouncement : 08.09.2025

capital gain resulted to the assessee in terms of Section 45(1) of the Income Tax Act. 8. The brief facts of the case are that assessee is an individual. He has filed his return of income for assessment year 2008-09 on 06.10.2008 declaring total income of Rs.2,70,600/-. This return was processed u/s 143(1

ACIT, CIRCLE, SHIMLA vs. SHRI VINOD SHARMA, NEW DELHI

In the result, the appeal of the Revenue is dismissed

Bench: Shri A.D. Jain & Dr Krinwant Sahayआयकर अपील सं./ Ita No. 1449/Chd/2019 "नधा"रण वष" / Assessment Year: 2015-16 The Acit, Vs. Shri Vinod Sharma, बनाम B-1/3, Circle, Safdarjang Enclave, Shimla New Delhi 110029 "थायी लेखा सं./Pan No: Abkps1560N अपीलाथ"/ Appellant ""यथ"/ Repsondent (Hybrid Mode ) "नधा"रती क" ओर से/Assessee By : Sh. Vishal Mohan, Sr. Advocate With Shri Ahninav Bazwaria, Advocate राज"व क" ओर से/ Revenue By : Smt. Kusum Bansal, Cit Dr सुनवाई क" तार"ख/Date Of Hearing : 10.06.2024 उदघोषणा क" तार"ख/Date Of Pronouncement : 09.07.2024

256, i.e., much more than the capital gains. The Central Board of Direct Taxes also issued Circular No. 471 (see [1986] 162 ITR (St.) 41), dated October 15, 1986, and has clarified as under: " Therefore, for the purpose of capital gains tax, the cost of the new asset is the tentative cost of construction and the fact that the amount

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

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

1) of the Act. Later on the case was selected for scrutiny. The A.O. during the course of assessment proceedings noticed that the assessee earned dividend income of Rs.9,19,28,102/- and LTCG taxable Rs. 7,59,39,798/- and Rs.6,06,39,256/- which were claimed exempt under section 10(38) of the Act and that the assessee

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)

256 1,023,622 5,793,878 TOTAL 2,77,90,068 11373255 39,163,323 Misc. Expenses Ludhiana (37%) Haridwar (63%) Consolidated Legal, Prof & 5048D37 8595305 13643342 Consultation Charges Gen Admin Exp 3671861 6252087 9923948 Gen Exp Others 1797157 3060025 4857182 Domestic Traveling & 1829640 3115333 4944973 Convey-other Foreign Traveling exp-others 2143735 3650143 5793878 TOTAL 1

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)

256 1,023,622 5,793,878 TOTAL 2,77,90,068 11373255 39,163,323 Misc. Expenses Ludhiana (37%) Haridwar (63%) Consolidated Legal, Prof & 5048D37 8595305 13643342 Consultation Charges Gen Admin Exp 3671861 6252087 9923948 Gen Exp Others 1797157 3060025 4857182 Domestic Traveling & 1829640 3115333 4944973 Convey-other Foreign Traveling exp-others 2143735 3650143 5793878 TOTAL 1

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)

256 1,023,622 5,793,878 TOTAL 2,77,90,068 11373255 39,163,323 Misc. Expenses Ludhiana (37%) Haridwar (63%) Consolidated Legal, Prof & 5048D37 8595305 13643342 Consultation Charges Gen Admin Exp 3671861 6252087 9923948 Gen Exp Others 1797157 3060025 4857182 Domestic Traveling & 1829640 3115333 4944973 Convey-other Foreign Traveling exp-others 2143735 3650143 5793878 TOTAL 1

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)

256 1,023,622 5,793,878 TOTAL 2,77,90,068 11373255 39,163,323 Misc. Expenses Ludhiana (37%) Haridwar (63%) Consolidated Legal, Prof & 5048D37 8595305 13643342 Consultation Charges Gen Admin Exp 3671861 6252087 9923948 Gen Exp Others 1797157 3060025 4857182 Domestic Traveling & 1829640 3115333 4944973 Convey-other Foreign Traveling exp-others 2143735 3650143 5793878 TOTAL 1

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)

256 1,023,622 5,793,878 TOTAL 2,77,90,068 11373255 39,163,323 Misc. Expenses Ludhiana (37%) Haridwar (63%) Consolidated Legal, Prof & 5048D37 8595305 13643342 Consultation Charges Gen Admin Exp 3671861 6252087 9923948 Gen Exp Others 1797157 3060025 4857182 Domestic Traveling & 1829640 3115333 4944973 Convey-other Foreign Traveling exp-others 2143735 3650143 5793878 TOTAL 1

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)

256 1,023,622 5,793,878 TOTAL 2,77,90,068 11373255 39,163,323 Misc. Expenses Ludhiana (37%) Haridwar (63%) Consolidated Legal, Prof & 5048D37 8595305 13643342 Consultation Charges Gen Admin Exp 3671861 6252087 9923948 Gen Exp Others 1797157 3060025 4857182 Domestic Traveling & 1829640 3115333 4944973 Convey-other Foreign Traveling exp-others 2143735 3650143 5793878 TOTAL 1

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)

256 1,023,622 5,793,878 TOTAL 2,77,90,068 11373255 39,163,323 Misc. Expenses Ludhiana (37%) Haridwar (63%) Consolidated Legal, Prof & 5048D37 8595305 13643342 Consultation Charges Gen Admin Exp 3671861 6252087 9923948 Gen Exp Others 1797157 3060025 4857182 Domestic Traveling & 1829640 3115333 4944973 Convey-other Foreign Traveling exp-others 2143735 3650143 5793878 TOTAL 1

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)

256 1,023,622 5,793,878 TOTAL 2,77,90,068 11373255 39,163,323 Misc. Expenses Ludhiana (37%) Haridwar (63%) Consolidated Legal, Prof & 5048D37 8595305 13643342 Consultation Charges Gen Admin Exp 3671861 6252087 9923948 Gen Exp Others 1797157 3060025 4857182 Domestic Traveling & 1829640 3115333 4944973 Convey-other Foreign Traveling exp-others 2143735 3650143 5793878 TOTAL 1

M/S GLAXOSMITHKLINE ASIA PVT. LTD.,GURGAON vs. DCIT, CHANDIGARH

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

capital expenditure. We are also not in agreement with the contention of the Ld. DR that these expenditures were not related with particular previous year but were related to many earlier years cannot be accepted as these products constitute a part of the closing stock for the instant year. 11. Now coming to the issue whether this expenditure has been

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

1) of the Act. Later on the case was selected for scrutiny. The A.O. during the course of assessment proceedings noticed that the assessee earned dividend income of Rs.9,19,28,102/- and LTCG taxable Rs. 7,59,39,798/- and Rs.6,06,39,256/- which were claimed exempt under section 10(38) of the Act and that the assessee

HARYANA BUILDING AND OTHER CONSTRUCTION WORKERS WELFARE BOARD,PANCHKULA vs. DCIT, EXEMPTION, SECTOR 17

In the result, this appeal of the Assessee stands dismissed

gain.\n6. 4. In light of the above, it is evident that the Board's motive is neither trade nor\nprofit, but purely welfare-oriented. Accordingly, the appellant-Board'\nactivities are entirely welfare-driven, devoid of any profit motive, and must\nbe viewed in the charitable framework envisaged under the Act.\n6. 5. Reliance is placed

HARYANA BUILDING AND OTHER CONSTRUCTION WORKERS WELFARE BOARD,PANCHKULA vs. DCIT, EXEMPTION, CHANDIGARH

In the result, this appeal of the Assessee stands dismissed

gain.\n6. 4. In light of the above, it is evident that the Board's motive is neither trade nor\nprofit, but purely welfare-oriented. Accordingly, the appellant-Board'\nactivities are entirely welfare-driven, devoid of any profit motive, and must\nbe viewed in the charitable framework envisaged under the Act.\n6. 5. Reliance is placed

HARYANA BUILDING AND OTHER CONSTRUCTION WORKERS WELFARE BOARD,PANCHKULA vs. CIT(EXEMPTION), CHANDIGARH

In the result, this appeal of the Assessee stands dismissed

gain.\n\n6. 4. In light of the above, it is evident that the Board's motive is neither trade nor\nprofit, but purely welfare-oriented. Accordingly, the appellant-Board'\nactivities are entirely welfare-driven, devoid of any profit motive, and must\nbe viewed in the charitable framework envisaged under the Act.\n\n6. 5. Reliance is placed

HARYANA BUILDING AND OTHER CONSTRUCTION WORKERS WELFARE BOARD,PANCHKULA vs. DCIT, EXEMPTION, CHANDIGARH

In the result, this appeal of the Assessee stands dismissed

gain.\n\n6. 4. In light of the above, it is evident that the Board's motive is neither trade nor\nprofit, but purely welfare-oriented. Accordingly, the appellant-Board's\nactivities are entirely welfare-driven, devoid of any profit motive, and must\nbe viewed in the charitable framework envisaged under the Act.\n\n6. 5. Reliance is placed

M/S ORBIT RESORTS (P) LTD.,CHANDIGARH vs. DCIT, C-1(1), CHANDIGARH

In the result, appeals of the Assessee stands allowed

Bench: SHRI. RAJPAL YADAV (Vice President), SHRI. KRINWANT SAHAY, AM आयकर अपील सं. / ITA No. 343 /Chd/2019 निर्धारण वर्ष / Assessment Years : 2013-14 M/s Orbit Resorts Limited बनाम The DCIT H.No. 256, Sector 9C, Chandigarh Circle 1(1), Chandigarh स्थायी लेखा सं./PAN NO: AAACO4024H अपीलार्थी/Appellant प्रत्यर्थी/Respondent आयकर अपील सं. / ITA No. 988 /Chd/2019 निर्धारण वर्ष / Assessment Years : 2014-15 M/s Orbit Resorts Limited बनाम H.No. 256, Sector 9C, Chandigarh The DCIT Circle 1(1), Chandigarh

256, Sector 9C, Circle 1(1), Chandigarh Chandigarh "ायी लेखा सं./PAN NO: AAACO4024H अपीलाथ"/Appellant ""थ"/Respondent िनधा"रती की ओर से/Assessee by : Shri Aditya Kumar, C.A राज" की ओर से/ Revenue by : Dr. Ranjit Kaur, Addl. CIT, Sr. DR सुनवाई की तारीख/Date of Hearing : 13/08/2025 उदघोषणा की तारीख/Date of Pronouncement : 16/10/2025 आदेश/Order PER KRINWANT