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

depreciation on ATM. 3. It is prayed that the order of Ld. CIT(A) be set aside and that of the Assessing officer restored. 2. The Ld. Sr. DR relied upon the assessment order and the authorized representative of the assessee on the other hand relied upon the impugned order. 3. The Ld. AR inviting attention to the issues addressed

VTL INVESTMENTS LTD.,LUDHIANA vs. ADDL. CIT, CHANDIGARH

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

Bench: Shri Sanjay Garg & Ms. Annapurna Guptaआयकर अपील सं./ Ita Nos. 762/Chd/2009 "नधा"रण वष" / Assessment Years : 2006-07 The Acit, M/S Vtl Investment Ltd., बनाम Circle 2(1), (Formerly Known As Vardhman Chandigarh Threads Ltd.,) Vardhman Complex, Chandigarh Road "थायी लेखा सं./Pan No: Aabcv7449L Appeal Against The Order Of Cit(A), Chandigarh Dated 01.05.2009

deemed fit and proper under the circumstances of the case may kindly be granted. 4. Ground Nos.1 & 2 : Vide these grounds, the assessee has agitated the disallowance of Rs. 2,70,645/- on account of apportionment and thereby disallowance of expenditure relatable to the earning of tax exempt dividend income under the provisions of section 14A of the Income

ACIT,, CHANDIGARH vs. M/S VTL INVESTMENT LTD.,, CHANDIGARH

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

Bench: Shri Sanjay Garg & Ms. Annapurna Guptaआयकर अपील सं./ Ita Nos. 762/Chd/2009 "नधा"रण वष" / Assessment Years : 2006-07 The Acit, M/S Vtl Investment Ltd., बनाम Circle 2(1), (Formerly Known As Vardhman Chandigarh Threads Ltd.,) Vardhman Complex, Chandigarh Road "थायी लेखा सं./Pan No: Aabcv7449L Appeal Against The Order Of Cit(A), Chandigarh Dated 01.05.2009

deemed fit and proper under the circumstances of the case may kindly be granted. 4. Ground Nos.1 & 2 : Vide these grounds, the assessee has agitated the disallowance of Rs. 2,70,645/- on account of apportionment and thereby disallowance of expenditure relatable to the earning of tax exempt dividend income under the provisions of section 14A of the Income

VTL INVESTMENTS LIMITED,LUDHIANA vs. ADDL. CIT, CHANDIGARH

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

Bench: Shri Sanjay Garg & Ms. Annapurna Guptaआयकर अपील सं./ Ita Nos. 762/Chd/2009 "नधा"रण वष" / Assessment Years : 2006-07 The Acit, M/S Vtl Investment Ltd., बनाम Circle 2(1), (Formerly Known As Vardhman Chandigarh Threads Ltd.,) Vardhman Complex, Chandigarh Road "थायी लेखा सं./Pan No: Aabcv7449L Appeal Against The Order Of Cit(A), Chandigarh Dated 01.05.2009

deemed fit and proper under the circumstances of the case may kindly be granted. 4. Ground Nos.1 & 2 : Vide these grounds, the assessee has agitated the disallowance of Rs. 2,70,645/- on account of apportionment and thereby disallowance of expenditure relatable to the earning of tax exempt dividend income under the provisions of section 14A of the Income

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)

dividend and interest to assessee banks in those situations where, interest free own funds available with the assessee exceeded their investment. With this conclusion, we unhesitatingly agree with the view taken by the learned ITAT favoring the assessee." 6.4 In view of the same and respectfully following the judgments of the Hon'ble ITAT's in the appellant own cases

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)

dividend and interest to assessee banks in those situations where, interest free own funds available with the assessee exceeded their investment. With this conclusion, we unhesitatingly agree with the view taken by the learned ITAT favoring the assessee." 6.4 In view of the same and respectfully following the judgments of the Hon'ble ITAT's in the appellant own cases

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)

dividend and interest to assessee banks in those situations where, interest free own funds available with the assessee exceeded their investment. With this conclusion, we unhesitatingly agree with the view taken by the learned ITAT favoring the assessee." 6.4 In view of the same and respectfully following the judgments of the Hon'ble ITAT's in the appellant own cases

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)

dividend and interest to assessee banks in those situations where, interest free own funds available with the assessee exceeded their investment. With this conclusion, we unhesitatingly agree with the view taken by the learned ITAT favoring the assessee." 6.4 In view of the same and respectfully following the judgments of the Hon'ble ITAT's in the appellant own cases

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)

dividend and interest to assessee banks in those situations where, interest free own funds available with the assessee exceeded their investment. With this conclusion, we unhesitatingly agree with the view taken by the learned ITAT favoring the assessee." 6.4 In view of the same and respectfully following the judgments of the Hon'ble ITAT's in the appellant own cases

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)

dividend and interest to assessee banks in those situations where, interest free own funds available with the assessee exceeded their investment. With this conclusion, we unhesitatingly agree with the view taken by the learned ITAT favoring the assessee." 6.4 In view of the same and respectfully following the judgments of the Hon'ble ITAT's in the appellant own cases

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)

dividend and interest to assessee banks in those situations where, interest free own funds available with the assessee exceeded their investment. With this conclusion, we unhesitatingly agree with the view taken by the learned ITAT favoring the assessee." 6.4 In view of the same and respectfully following the judgments of the Hon'ble ITAT's in the appellant own cases

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)

dividend and interest to assessee banks in those situations where, interest free own funds available with the assessee exceeded their investment. With this conclusion, we unhesitatingly agree with the view taken by the learned ITAT favoring the assessee." 6.4 In view of the same and respectfully following the judgments of the Hon'ble ITAT's in the appellant own cases

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

dividend;\n44[(iia) voluntary contributions received by a trust created wholly or partly for\ncharitable or religious purposes or by an institution established wholly or\npartly for such purposes 45 [or by an association or institution referred to in\nclause (21) or clause (23)46, or by a fund or trust or institution referred to in\nsub-clause

ACIT,, LUDHIANA vs. M/S VARDHMAN HOLDINGS LTD.,, LUDHIANA

The appeal of the assessee is partly allowed and the appeal of the Revenue is dismissed

dividend income earned of Rs.3.21 crores is, therefore we hold, wholly justified. We therefore, see no reason to interfere in the order of the Ld. CIT(A) and the ground No.2 raised by the assessee is, therefore, dismissed. 20. Ground No.3 raised by the assessee reads as under: “3. The Ld. CIT (A) has erred in law and on facts

VARDHMAN HOLDINGS LTD.,,LUDHIANA vs. ACIT,,

The appeal of the assessee is partly allowed and the appeal of the Revenue is dismissed

dividend income earned of Rs.3.21 crores is, therefore we hold, wholly justified. We therefore, see no reason to interfere in the order of the Ld. CIT(A) and the ground No.2 raised by the assessee is, therefore, dismissed. 20. Ground No.3 raised by the assessee reads as under: “3. The Ld. CIT (A) has erred in law and on facts

M/S PUNJAB CHEMICALS & CROP. PROTECTION LTD.,CHANDIGARH vs. ADDL. CIT, CHANDIGARH

The appeals of the assessee are allowed for statistical purposes

Bench: Smt. Diva Singh & Dr. B.R.R. Kumarassessment Year: 2008-09

depreciation on the capitalized assets. 7.2 Before us, the Ld. AR argued that there has to be a nexus between the borrowings and acquisition of an asset. The company has already capitalized the interest on such loans. For the rest of the investments in CWIP the assessee argued that there was sufficient cash flows from year to year ranging from

PUNJAB CHEMICALS & CROP. PROTECTION LTD.,CHANDIGARH vs. DCIT, CHANDIGARH

The appeals of the assessee are allowed for statistical purposes

Bench: Smt. Diva Singh & Dr. B.R.R. Kumarassessment Year: 2008-09

depreciation on the capitalized assets. 7.2 Before us, the Ld. AR argued that there has to be a nexus between the borrowings and acquisition of an asset. The company has already capitalized the interest on such loans. For the rest of the investments in CWIP the assessee argued that there was sufficient cash flows from year to year ranging from

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

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

depreciation chart prepared by the assessee for Noida Unit shows the following plant and machinery under the head "fixed assets": - Sr. No. Particulars of assets Balance as on 31st March 2006 1 Crates and Moulds 39,38,644/- 2 Generator 1,86,916/- 3 Misc. Fixed Assets 18,65,078/- 4 Plant & Machinery 55,96,008/- 5 Transformer