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)

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

VIMAL ALLOYS PRIVATE LIMITED, MANDI GOBINDGARH,PUNJAB vs. JAO THE DEPUTY COMMISSIONER OF INCOME TAX CIRCLE, PATIALA, PUNJAB

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

139 or in response to a notice issued under sub- section (1) of section 142 or section 148 or to disclose fully and truly all material facts necessary for his assessment, for that assessment year.” c) It is submitted that, in the case of the assessee there is no such information relating to failure and nothing has been mentioned about

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

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

M/S JAIN AMAR CLOTHING PRIVATE LIMITED,LUDHIANA vs. DCIT-CC-3, LUDHIANA

In the result, appeal of the assessee is allowed

Bench: Or At The Time Of Hearing.

139 which is depreciation chart on 31-03-2017 annexed to Balance Sheet tallies with Annexure 'A' attached with the Written Submissions. 3. The complete details of factory building and shop taken on rent have also given in Annexure 'B'. Your goodself will find that there are two factory, buildings and one shop taken on rent. The rent agreement

SUDARSHAN JEANS PRIVATE LIMITED,KOLHAPUR vs. ITO, AMBALA

The appeal stand allowed

Bench: SHRI LALIET KUMAR (Judicial Member), SHRI MANOJ KUMAR AGGARWAL (Accountant Member)

139 or in response to notice issued under section 142(1) or section 148; or (b) to disclose fully and truly all material facts necessary for his assessment for that purpose. In case where the assessment has been made u/s 143(3) and action u/s 147 is sought to be taken after expiry of four years from end of relevant

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, LUDHIANA , LUDHIANA vs. ROSHA ALLOYS PVT. LTD., MANDI GOBINDGARH

In the result, the appeals filed by the Revenue are dismissed,\nwhereas the appeals of the assessee are allowed

depreciation\nallowance or any other\nallowance or deduction\nfor such assessment year\n(hereafter in this section\nand in sections 148 to 153\nreferred relevant\nyear).\nto\nas the\nassessment\nUp to Finance Act 2020\n147. If the 5 [Assessing] Officer [has\nreason to believe”] that any income\nchargeable to tax has escaped\nassessment for any assessment year

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, LUDHIANA , LUDHIANA vs. ROSHA ALLOYS PVT. LTD., MANDI GOBINDGARH

In the result, the appeals filed by the Revenue are dismissed,\nwhereas the appeals of the assessee are allowed

depreciation\nallowance or any other\nallowance or deduction\nfor such assessment year\n(hereafter in this section\nand in sections 148 to 153\nreferred relevant\nyear).\nas the assessment\n147. If the 5 [Assessing] Officer [has\nreason to believe”] that any income\nchargeable to tax has escaped\nassessment for any assessment year,\nhe may, subject to the provisions\nof sections

SANJEEV KUMAR GOYAL,FATEHABAD vs. DCIT, CC-2, LUDHIANA

In the result, the appeal of the assesse is allowed

Bench: This Hon’Ble Tribunal Under Section 253 Of The Income Tax Act, 1961 As Amended From Time To Time. 2. The Assessee Is Aggrieved By The Order Of The Ld. Cit(A) Dt. 20/01/2023 In Appeal No. 10853/2018-19/It/Cit(A)-5/Ldh/2021-22 For The A.Y. 2019-20 Under Section 250(6) Of The Income Tax Act, 1961 Which Was Dismissed. Therefore The Present Second Appeal Under Section 253 Of The Income Tax Act, 1961 Before Us Against The Aforesaid Order Dt. 20/01/2023 Which Is Hereinafter Referred To As The Impugned Order.

depreciation during the year under consideration. During the assessment proceedings the assessee has not produced any bills/vouchers/ proof of payment/ copy of accounts of the building as Capital Work in Progress to substantiate the claim of source of investment made for the construction of building. The onus to prove the sources of the surrender income lies entirely on the assessee

ROSHA ALLOYS P LIMITED, AMLOH ROAD, VILLAGE TURAN, MANDI GOBINDGARH,PUNJAB vs. DCIT CENTRAL CIRCLE 1, LUDHIANA, PUNJAB

In the result, the appeals filed by the Revenue are dismissed,\nwhereas the appeals of the assessee are allowed

depreciation\nallowance or any other\nallowance or deduction\nfor such assessment year\n(hereafter in this section\nand in sections 148 to 153\nreferred to as the\nrelevant assessment\nyear).\nUp to Finance Act 2020\n147. If the 5 [Assessing] Officer [has\nreason to believe”] that any income\nchargeable to tax has escaped\nassessment for any assessment year

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, LUDHIANA , LUDHIANA vs. ROSHA ALLOYS PVT. LTD., MANDI GOBINDGARH

In the result, the appeals filed by the Revenue are dismissed,\nwhereas the appeals of the assessee are allowed

depreciation\nallowance or any other\nallowance or deduction\nfor such assessment year\n(hereafter in this section\nand in sections 148 to 153\nreferred to as the\nrelevant\nyear).\nassessment\nUp to Finance Act 2020\n147. If the 5 [Assessing] Officer [has\nreason to believe”] that any income\nchargeable to tax has escaped\nassessment for any assessment year

M/S NOVA IRON AND STEEL LTD.,CHANDIGARH vs. DCIT, CC-1, CHANDIGARH

Appeal of the assessee is partly allowed

Bench: Filing Of Income Tax Return.

depreciation of Rs. 1,03,13,420/-. The appellant could have furnished revised return once it has discovered the above omission /wrong statement as per the provisions of section 139

NAHAR POLY FILMS LIMITED,LUDHIANA vs. DCIT, CIRCLE-1, LUDHIANA

In the result, the appeal is allowed

Bench: Shri A.D. Jain & Dr Krinwant Sahayआयकर अपील सं./ Ita No. 458/Chd/2023 "नधा"रण वष" / Assessment Year: 2015-2016 Nahar Poly Films Limited, Vs. The Dcit, बनाम 375, Industrial Area-A, Circle-1, Ludhiana 141003 Aayakar Bhawan, Rishi Nagar, Ludhiana "थायी लेखा सं./Pan No: Aaacn5708K अपीलाथ"/ Appellant ""यथ"/ Repsondent ( Physical Hearing ) "नधा"रती क" ओर से/Assessee By : Sh. Navdeep Sharma, Advocate राज"व क" ओर से/ Revenue By : Smt. Kusum Bansal, Cit Dr सुनवाई क" तार"ख/Date Of Hearing : 29.05.2024 उदघोषणा क" तार"ख/Date Of Pronouncement : 19.08.2024 आदेश/Order Per Dr. Krinwant Sahay, A.M.:

section 32(1)(ii). The balance 50% of the additional depreciation which was short allowed because of restriction in the said year has been claimed during the year under appeal before the Assessing Officer. The copy of letter dt. 14.04.2017 filed with the Assessing Officer regarding this claim of additional depreciation has been reproduced by the AO at page

INCOME TAX OFFICER, MOHALI PUNJAB vs. TAJ LAND DEVELOPEFRS AND PROMOTERS PRIVATE LIMITED , SECTOR MOHALI PUNJAB

In the result, appeal is dismissed

139(1).\n\n12. It is a settled law that the reason to believe is sine quo for assumption\nof jurisdiction u/s 148 and if there is wrong reason to believe then the very\ninitiation of proceedings u/s 148 are bad in law as per judgment of Apex\nCourt in the case of ITO Vs Lakhmi Mewal Dass reported

JCIT(OSD), C-1, (E), CHANDIGARH vs. THE SIKH EDUCATIONAL SOCIETY, PATIALA

Bench: The Ld. Cit(A) Against Assessment Order Dt. 30/03/2013 Which Was Passed By Additional Commissioner Of Income Tax, Patiala Range, Patiala, Punjab Which Order Is Hereinafter Referred To As “Ao’S Order”.

section 139(1) in respect of any income accumulated or set apart in excess of 15% of the gross receipts of the assessee earned during the year under consideration. Keeping in view the facts stated above, the taxable income of the society is computed as under :- 1 Income as per Income and Expenditure account

THE SIKH EDUCATIONAL SOCIETY,PATIALA vs. ADDL. CIT, RANGE, PATIALA

Bench: The Ld. Cit(A) Against Assessment Order Dt. 30/03/2013 Which Was Passed By Additional Commissioner Of Income Tax, Patiala Range, Patiala, Punjab Which Order Is Hereinafter Referred To As “Ao’S Order”.

section 139(1) in respect of any income accumulated or set apart in excess of 15% of the gross receipts of the assessee earned during the year under consideration. Keeping in view the facts stated above, the taxable income of the society is computed as under :- 1 Income as per Income and Expenditure account

DCIT, C-1 (EXEMPTIONS), CHANDIGARH vs. THE INSTITUTION OF CIVIL ENGINEERS SOCIETY, LUDHIANA

In the result, appeal of the Revenue is dismissed

139(4) of the Income Tax\nAct declaring ‘nil' income.\n5.1 The case of the assessee was selected for scrutiny\nassessment and notices under Section 143(2) and 142(1)\nwere issued and served upon the assessee.\n5.2 The 1d. AO has analyzed the activities of the assessee\nand found that assessee has extended the undue benefit to\ntwo individuals

M/S SHUBHAM COTTON MILLS PVT. LTD.,ELLENABAD vs. DCIT, CIRCLE, SIRSA

In the result appeal of the assessee is allowed

Depreciation As per I.T. Tax 2082820 6546393 5. It is submitted that the assessee has led complete evidence to support each and every items of the aforesaid revised profit and loss account and revised computation of income which shows a loss of Rs.65,46,393/-. It is submitted that if there is a loss of Rs.65,46,393/- which