SH. VIBHAV JAIN,LUDHIANA vs. DCIT, CC-III, LUDHIANA

In the result, the ground no

Bench: SHRI. SANJAY GARG (Judicial Member), SHRI. VIKRAM SINGH YADAV (Accountant Member)

capital gains on sale of shares. 9.8 It was further submitted that under identical set of facts and circumstances, in case of group cases, namely Shri Ashish Jain, Shri Akhil Jain and Shri Bipin Jain (ITA no. 352/CHD/2023 & others dated 23/01/2024), wherein similar additions were made by the AO by denial of claim of LTCG basis identical nature of material

BALBIR KUMAR HUF,CHANDIGARH vs. ITO , CHANDIGARH

Bench: SHRI. LALIET KUMAR (Judicial Member), SHRI. KRINWANT SAHAY (Accountant Member)

Section 16 or Section 17 of the Act. We, therefore, hold that the statutory interest paid under Section 34 of the Act is interest paid for the delayed payment of the compensation amount and, therefore, is a revenue receipt liable to tax under the Income Tax Act." 9. This position of law has been consistently reiterated by this Court

SMT. SHANKRI DEVI,PANCHKULA vs. ACIT, PANCKULA CIRCLE, PANCHKULA

Bench: SHRI. LALIET KUMAR (Judicial Member), SHRI. KRINWANT SAHAY (Accountant Member)

Section 16 or Section 17 of the Act. We, therefore, hold that the statutory interest paid under Section 34 of the Act is interest paid for the delayed payment of the compensation amount and, therefore, is a revenue receipt liable to tax under the Income Tax Act." 9. This position of law has been consistently reiterated by this Court

SAROJ CHAUDHARY BALA,PANCHKULA vs. ITO, WARD-4, PANCHKULA

Bench: SHRI. LALIET KUMAR (Judicial Member), SHRI. KRINWANT SAHAY (Accountant Member)

Section 16 or Section 17 of the Act. We, therefore, hold that the statutory interest paid under Section 34 of the Act is interest paid for the delayed payment of the compensation amount and, therefore, is a revenue receipt liable to tax under the Income Tax Act." 9. This position of law has been consistently reiterated by this Court

INCOME TAX OFFICER, FATEHABAD vs. MAHESH NAGPAL, FATEHABAD

Bench: SHRI. LALIET KUMAR (Judicial Member), SHRI. KRINWANT SAHAY (Accountant Member)

Section 16 or Section 17 of the Act. We, therefore, hold that the statutory interest paid under Section 34 of the Act is interest paid for the delayed payment of the compensation amount and, therefore, is a revenue receipt liable to tax under the Income Tax Act." 9. This position of law has been consistently reiterated by this Court

SH. AMARDEEP SINGH ATHWAL,YAMUNANAGAR vs. ITO, WARD-1, YAMUNANAGAR

Bench: BEFORE: SHRI. LALIET KUMAR (Judicial Member), SHRI. KRINWANT SAHAY (Accountant Member)

Section 16 or Section 17 of the Act. We, therefore, hold that the statutory interest paid under Section 34 of the Act is interest paid for the delayed payment of the compensation amount and, therefore, is a revenue receipt liable to tax under the Income Tax Act." 9. This position of law has been consistently reiterated by this Court

SH. AMARDEEP SINGH ATHWAL,YAMUNANAGAR vs. ITO, WARD-1, YAMUNANAGAR

Bench: SHRI. LALIET KUMAR (Judicial Member), SHRI. KRINWANT SAHAY (Accountant Member)

Section 16 or Section 17 of the Act. We, therefore, hold that the statutory interest paid under Section 34 of the Act is interest paid for the delayed payment of the compensation amount and, therefore, is a revenue receipt liable to tax under the Income Tax Act." 9. This position of law has been consistently reiterated by this Court

ARJESH KUMAR,PATIALA vs. ITO NATIONAL E-ASSESSMENT CENTRE , DELHI

Section 16 or Section 17 of the Act. We, therefore, hold that the statutory interest paid under Section 34 of the Act is interest paid for the delayed payment of the compensation amount and, therefore, is a revenue receipt liable to tax under the Income Tax Act." 9. This position of law has been consistently reiterated by this Court

RANJIT SINGH,PANCHKULA vs. DEPUTY DIRECTOR, CPC DEPARTMENT

Bench: SHRI. LALIET KUMAR (Judicial Member), SHRI. KRINWANT SAHAY (Accountant Member)

Section 16 or Section 17 of the Act. We, therefore, hold that the statutory interest paid under Section 34 of the Act is interest paid for the delayed payment of the compensation amount and, therefore, is a revenue receipt liable to tax under the Income Tax Act." 9. This position of law has been consistently reiterated by this Court

PAWAN KUMAR,FATEHABAD vs. INCOME TAX OFFICER WARD-1, FATEHABAD

Bench: SHRI. LALIET KUMAR (Judicial Member), SHRI. KRINWANT SAHAY (Accountant Member)

Section 16 or Section 17 of the Act. We, therefore, hold that the statutory interest paid under Section 34 of the Act is interest paid for the delayed payment of the compensation amount and, therefore, is a revenue receipt liable to tax under the Income Tax Act." 9. This position of law has been consistently reiterated by this Court

M/S SANJAY SINGAL HUF,CHANDIGARH vs. DCIT, CC-1, CHANDIGARH

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

IV M/s Sanjay Singal HUF AY Scrip Amount 2016-17 M/s Grandma Trading and Agencies Ltd. M/s Ram Minerals 30.76 and Chemicals Ltd. (Formerly ICVL Chemicals Ltd.) M/S Goenka Business and Finance Ltd. 2015-16 M/s Maa Jagdambe Trade Link Ltd. 18.29 2014-15 M/s Action Financial Services Ltd., M/s 56.8 Rutron International Ltd. 2013-14 M/s Unisys Software

SANJAY SINGAL,CHANDIGARH vs. DEPUTY COMMISSIONER OF INCOME TAX, CC-1, CHANDIGARH

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

IV M/s Sanjay Singal HUF AY Scrip Amount 2016-17 M/s Grandma Trading and Agencies Ltd. M/s Ram Minerals 30.76 and Chemicals Ltd. (Formerly ICVL Chemicals Ltd.) M/S Goenka Business and Finance Ltd. 2015-16 M/s Maa Jagdambe Trade Link Ltd. 18.29 2014-15 M/s Action Financial Services Ltd., M/s 56.8 Rutron International Ltd. 2013-14 M/s Unisys Software

KAKA SINGH ALIAS GULJAR SINGH,PATIALA vs. INCOME TAX OFFICER , PATIALA

1. The said clause talks about undue hardship being caused as arrears of interest\nbeing taxable on accrual basis. Clause 46.2 states that Section 145A is amended to\novercome the difficulty, by deeming the income for the year in which it is received.\nClause 46.3 has been ignored in which section 56(2) (viii) is dealt with that interest

RANJEET SINGH KHUBBER,AMBALA vs. ITO, WARD 2, AMBALA

1. The said clause talks about undue hardship being caused as arrears of interest\nbeing taxable on accrual basis. Clause 46.2 states that Section 145A is amended to\novercome the difficulty, by deeming the income for the year in which it is received.\nClause 46.3 has been ignored in which section 56(2) (viii) is dealt with that interest

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)

1)(iii) of the Act provides that “the amount of the interest paid in respect of capital borrowed for the purposes of the business or profession” has to be allowed as a deduction in computing the income under Section 280 of the Act. It was further noted by the Apex Court that the expression “for the purpose of business

BISHAN CHAND,CHANDIGARH vs. INCOME TAX OFFICER, WARD 5 (5), CHANDIGARH, CHANDIGARH

1. The said clause talks about undue hardship being caused as arrears of interest\nbeing taxable on accrual basis. Clause 46.2 states that Section 145A is amended to\novercome the difficulty, by deeming the income for the year in which it is received.\nClause 46.3 has been ignored in which section 56(2) (viii) is dealt with that interest

SH. PARGAT SINGH,PANIPAT vs. ITO, WARD -1, KAITHAL

1. The said clause talks about undue hardship being caused as arrears of interest\nbeing taxable on accrual basis. Clause 46.2 states that Section 145A is amended to\novercome the difficulty, by deeming the income for the year in which it is received.\nClause 46.3 has been ignored in which section 56(2) (viii) is dealt with that interest

GURDEEP SINGH HUF,CHANDIGARH vs. ITO, WARD 5(5), CHANDIGARH

1. The said clause talks about undue hardship being caused as arrears of interest\nbeing taxable on accrual basis. Clause 46.2 states that Section 145A is amended to\novercome the difficulty, by deeming the income for the year in which it is received.\nClause 46.3 has been ignored in which section 56(2) (viii) is dealt with that interest