M/S FASTWAY TRANSMISSION (P) LTD.,CHANDIGARH vs. ACIT, CHANDIGARH

In the result the captioned appeals of the assessee are

Bench: Shri N.K. Saini & Shri Sanjay Gargआयकर अपील सं./ Ita No.547/Chd/2017 "नधा"रण वष" / Assessment Year : 2013-14

section 143(3) of the Act in respect of STB's that were owned by the assessee. Hence the principle of consistency should be followed. He in this respect has made the following submissions: “ Specific reliance in this regard is placed on the decision of Bangalore Bench of Tribunal in the case of Cisco Systems Capital (India

ACIT, C-7, LUDHIANA vs. M/S CEIGALL INDIA LTD., LUDHIANA

In the result appeal of the Department is partly allowed for statistical purposes and the Cross Objection of the assessee is dismissed

Bench: The Appeal Is Finally Heard Or Disposed Off.

depreciation is to be allowed, even if the "net profit" is applied, is a settled issue by the judgment of Hon 'ble Punjab & Haryana High Court as under:- i). CIT Vs Chopra Bros. India (P) Ltd. P&H High Court as reported in 119 Taxman 866, in which, the Hon 'ble High Court has held as under:- "Section

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

section 57.\nThe said provision reads thus:\n\"57. Deductions.-The income chargeable under the head 'Income from other\nsources' shall be computed after making the following deductions, namely :.\n(iv) in the case of income of the nature referred to in clause (viii) of sub-\nsection (2) of section 56, a deduction of a sum equal to fifty

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)

119 of the I.T.Act, clarified that Rule 8D read with section 14A of the Act provides for disallowance of the expenditure even where taxpayer in a particular year has not earned any exempt income. Investment decisions are very complex in nature. They require substantial market research, day-to-day analysis of market trends and decisions with regard to acquisition, retention

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)

119 of the I.T.Act, clarified that Rule 8D read with section 14A of the Act provides for disallowance of the expenditure even where taxpayer in a particular year has not earned any exempt income. Investment decisions are very complex in nature. They require substantial market research, day-to-day analysis of market trends and decisions with regard to acquisition, retention

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)

119 of the I.T.Act, clarified that Rule 8D read with section 14A of the Act provides for disallowance of the expenditure even where taxpayer in a particular year has not earned any exempt income. Investment decisions are very complex in nature. They require substantial market research, day-to-day analysis of market trends and decisions with regard to acquisition, retention

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)

119 of the I.T.Act, clarified that Rule 8D read with section 14A of the Act provides for disallowance of the expenditure even where taxpayer in a particular year has not earned any exempt income. Investment decisions are very complex in nature. They require substantial market research, day-to-day analysis of market trends and decisions with regard to acquisition, retention

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)

119 of the I.T.Act, clarified that Rule 8D read with section 14A of the Act provides for disallowance of the expenditure even where taxpayer in a particular year has not earned any exempt income. Investment decisions are very complex in nature. They require substantial market research, day-to-day analysis of market trends and decisions with regard to acquisition, retention

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)

119 of the I.T.Act, clarified that Rule 8D read with section 14A of the Act provides for disallowance of the expenditure even where taxpayer in a particular year has not earned any exempt income. Investment decisions are very complex in nature. They require substantial market research, day-to-day analysis of market trends and decisions with regard to acquisition, retention

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)

119 of the I.T.Act, clarified that Rule 8D read with section 14A of the Act provides for disallowance of the expenditure even where taxpayer in a particular year has not earned any exempt income. Investment decisions are very complex in nature. They require substantial market research, day-to-day analysis of market trends and decisions with regard to acquisition, retention

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)

119 of the I.T.Act, clarified that Rule 8D read with section 14A of the Act provides for disallowance of the expenditure even where taxpayer in a particular year has not earned any exempt income. Investment decisions are very complex in nature. They require substantial market research, day-to-day analysis of market trends and decisions with regard to acquisition, retention

M/S SIRMOUR HOTELS PVT. LTD.,SIRMOUR vs. DCIT, PARWANOO

Appeal of the assessee is partly allowed

Bench: Shri Sanjay Garg & Ms. Annapurna Guptaassessment Year: 2007-08

119 Taxman 429 (SC) and held that building could not be considered as plant and, therefore, the same would not be a part of the substantial expansion as defined in sub section (8) of section 80IC of the Act. He, therefore, denied the benefit of deduction under the provisions of section 80IC of the Act to the assessee. 6. Being

M/S SIRMOUR HOTELS PVT. LTD.,SIRMOUR vs. DCIT, PARWANOO

Appeal of the assessee is partly allowed

Bench: Shri Sanjay Garg & Ms. Annapurna Guptaassessment Year: 2007-08

119 Taxman 429 (SC) and held that building could not be considered as plant and, therefore, the same would not be a part of the substantial expansion as defined in sub section (8) of section 80IC of the Act. He, therefore, denied the benefit of deduction under the provisions of section 80IC of the Act to the assessee. 6. Being

M/S SIRMOUR HOTELS PVT. LTD.,SIRMOUR vs. ITO, NAHAN

Appeal of the assessee is partly allowed

Bench: Shri Sanjay Garg & Ms. Annapurna Guptaassessment Year: 2007-08

119 Taxman 429 (SC) and held that building could not be considered as plant and, therefore, the same would not be a part of the substantial expansion as defined in sub section (8) of section 80IC of the Act. He, therefore, denied the benefit of deduction under the provisions of section 80IC of the Act to the assessee. 6. Being

S.P. SINGLA CONSTRUCTION PRIVATE LIMITED,DELHI vs. DEPUTY COMMISSIONER OF INCOME TAX, CHANDIGARH

In the result, the appeal is allowed

Bench: SHRI MAHAVIR SINGH (Vice President), SHRI KRINWANT SAHAY (Accountant Member)

depreciation allowance or any other allowance, as the case may be, for the assessment year concerned (hereafter in this Section and in sections 148 to 153 referred to as the relevant assessment year) : Provided that where an assessment under Sub-section (3) of Section 143 or this Section has been made for the relevant assessment year, no action shall

NARENDER KAUR,KURUKSHETRA, HARYANA vs. INCOME TAX OFFICER WARD-1 , KURUKSHETRA

section 56, a deduction of a sum equal to fifty per cent. of such\nincome and no deduction shall be allowed under any other clause of this\nsection.\"\n21. The Assessing Officer in I. T. A. No. 132 of 2018 where the assessee had\nreceived Rs.11,30,561 as interest income, held that the interest payment\nreceived on compensation/enhanced compensation

SH. AJIT SINGH,PINJORE vs. ITO, WARD-1, PANCHKULA

section 56, a deduction of a sum equal to fifty per cent. of such\nincome and no deduction shall be allowed under any other clause of this\nsection.\"\n21. The Assessing Officer in I. T. A. No. 132 of 2018 where the assessee had\nreceived Rs.11,30,561 as interest income, held that the interest payment\nreceived on compensation/enhanced compensation

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

119 dt. 12/09/1996\n•\nSunder vs Union of India, Civil Appeal No. 6271 of 1998 (SC) dt. 19/09/2001\n•\nShivajirao S/o, DnyanobaGhanwat and others, Vs The State of Maharashtra\nand others W.P.N. 5402 of2013 (High Court of Bombay at Aurangabad) dated 27\n08.2013\n•\nManjet Singh (HUF) Karta Manjeet Singh v. Union of India in High Court of\nPunjab