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

EXOTIC REALTORS AND DEVELOPERS,CHANDIGARH vs. PR.CIT-1, CHANDIGARH

In the result, appeal of the assessee is allowed

Bench: SHRI. KRINWANT SAHAY (Accountant Member), SHRI. PARESH M. JOSHI (Judicial Member)

143 (3) dt. 12/06/2020. However, the Ld. DR by extra written submissions dt. 22/07/2024 has placed reliance on Special Bench judgement of ITAT in case of Rajalakshmi Mills Ltd. Vs. ITO, Company Circle-III, Coimbatore reported in [2009] 121 ITD 343 (Chennai) to demonstrate that it is not necessary under section 263 for PCIT to make any enquiry before cancelling

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

DEPUTY COMMISSIONER OF INCOME TAX, CHANDIGARH vs. WINSOME TEXTILE INDUSTRIES LTD, CHANDIGARH

143(3) for A. Ys.2011-12 to\n2014-15.\nIn this regard, it is pertinent to mention here the provisions of Section 147 which\nreads as under:\n\"If the assessing office has reason to believe that any income chargeable to tax\nhas escaped assessment for any assessment year, he may, subject to the\nprovisions of Section 148 to 153, assessee

SHRI MOHAN LAL GUPTA,SHIMLA vs. PR.CIT-1, CHANDIGARH

In the result, appeal of the Assessee is partly allowed

Bench: SHRI. AAKASH DEEP JAIN (Vice President), SHRI. VIKRAM SINGH YADAV (Accountant Member)

143(3) of the Act and not from the end of the financial year from passing of the subsequent reassessment order under section 147 of the Act. 25. In this regard, useful guidance can be drawn from the decision of Hon’ble Supreme Court in case of CIT Vs. Alagendran Finance Ltd. [2007] 162 Taxman 465. The issue which arose

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 at Rs. 1,03,13,420/- as against correct claim of Rs. 89,96,72,987/- as was duly disclosed in the Tax Audit Report (TAR). This fact was also placed before CPC Bengaluru, in response to proposed adjustment under section 143

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

depreciation @ 60% on STB's in the preceding as well as subsequent assessment year(s) in assessments concluded under section 143

M/S FASTWAY TRANSMISSION (P) LTD.,CHANDIGARH vs. DCIT, CC-II, 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

depreciation @ 60% on STB's in the preceding as well as subsequent assessment year(s) in assessments concluded under section 143

M/S FASTWAY TRANSMISSION (P) LTD.,CHANDIGARH vs. DCIT, CC-II, 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

depreciation @ 60% on STB's in the preceding as well as subsequent assessment year(s) in assessments concluded under section 143

A.B. SUGARS LIMITED,PUNJAB vs. PRINCIPAL COMMISSIONER OF INCOME TAX -1, CHANDIGARH, CHANDIGARH

In the result, the appeal of the assessee is allowed

Bench: SHRI. VIKRAM SINGH YADAV (Accountant Member), SHRI. PARESH M. JOSHI (Judicial Member)

Depreciation Chart of Power Division (Eligible Unit) & Other Divisions (Non- Eligible Units) as per Income Tax Rules. H. Copy of Profit & Loss Account of Power Division (Eligible Unit) as at 31.03.2017. 1. Copy of Order passed u/s 143(3) dated 21.04.2021.” 8. Thereafter, another submission was filed by the assessee dt. 07/02/2024 and the contents thereof read as under

A.B. SUGARS LIMITED,PUNJAB vs. PRINCIPAL COMMISSIONER OF INCOME TAX-1, CHANDIGARH

In the result, the appeal of the assessee is allowed

Bench: SHRI. VIKRAM SINGH YADAV (Accountant Member), SHRI. PARESH M. JOSHI (Judicial Member)

Depreciation Chart of Power Division (Eligible Unit) & Other Divisions (Non- Eligible Units) as per Income Tax Rules. H. Copy of Profit & Loss Account of Power Division (Eligible Unit) as at 31.03.2017. 1. Copy of Order passed u/s 143(3) dated 21.04.2021.” 8. Thereafter, another submission was filed by the assessee dt. 07/02/2024 and the contents thereof read as under

PUNJAB BEVERAGES PVT. LTD.,PATIALA vs. DCIT, CIRCLE, PATIALA

Bench: Shri Sanjay Garg & Smt.Annapurna Guptaआयकर अपील सं./ Ita No.438/Chd/2018 "नधा"रण वष" / Assessment Year : 2001-02

depreciation could only be verified from the copies of the assessment and appellate orders for A.Ys. 1979-80 to 1996-97, which were duly placed before the AO at the time of effecting order under section 143

DCIT, CIRCLE, PATIALA vs. M/S PUNJAB BEVERAGES PVT. LTD., PATIALA

Bench: Shri Sanjay Garg & Smt.Annapurna Guptaआयकर अपील सं./ Ita No.438/Chd/2018 "नधा"रण वष" / Assessment Year : 2001-02

depreciation could only be verified from the copies of the assessment and appellate orders for A.Ys. 1979-80 to 1996-97, which were duly placed before the AO at the time of effecting order under section 143

ARYA COLLEGE,LUDHIANA, PUNJAB vs. DCIT, EXEMPTIONS CIRCLE 1, CHANDIGARH, CHANDIGARH

In the result, appeal of the assessee is allowed for\nstatistical purposes

143(1) of the\nIncome Tax Act and denied the benefit of Section 11 and 12 of\nthe Income Tax Act.\n3. The brief facts of the case are that assessee has filed its\nIncome Tax Return on 30.09.2018. Its computation of income\nought to be as under :\n| Aggregate Receipts as shown in the ITR | Rs.77

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

In the result, appeal is dismissed

143(3) on 29.12.2018. This assessment is read with\nSection 147 which has not been noted by the AO. The 1d. AO\nhas determined the taxable income of the assessee at\nRs.5,65,56,040/-.\n\n5. Dissatisfied with the assessment order, assessee carried\nthe matter in appeal before the CIT(A). The 1d. CIT(A) has\nquashed

BABA HIRA SINGH BHATTAL INSTITUTE OF ENGINEERING & TECHNOLOGY,LEHRAGAGA vs. DCIT, (E), C-1, CHANDIGARH

In the result, the appeal is allowed

Bench: SHRI A.D.JAIN (Vice President), SHRI VIKRAM SINGH YADAV (Accountant Member)

143(3) read with Section 263 and Section 144B of the Act, the original assessment order dated 21.12.2017, which forms the genesis of the present dispute has now become ITA 870/CHD/2019 A.Y. 2015-16 12 null and void and as such, the appeal of the assessee may also be treated as null and void and be dismissed as such

M/S HEADMASTER SALOON PVT.LTD.,CHANDIGARH vs. DCIT-CIRCLE-1(1), CHANDIGARH

In the result, appeal of the assessee is allowed for statistical purposes

Bench: SHRI. VIKRAM SINGH YADAV (Accountant Member), SHRI. PARESH M. JOSHI (Judicial Member)

section 143(3) of the Income Tax Act, 1961 on page 3 para 6 has observed as follows: “ 6. On perusal of the above reply, it was seen that the assessee had not declared the voluntary disclosure / surrender of income that was made by him during the course of survey operation.” 16. During the course of the assessment proceedings

M/S PAGRO FROZEN FOODS PVT. LTD.,CHANDIGARH vs. ITO, W-2(3), CHANDIGARH

The appeal of the Assessee is dismissed

Bench: SHRI. VIKRAM SINGH YADAV (Accountant Member), SHRI. PARESH M. JOSHI (Judicial Member)

section 143(3) of the Income Tax Act, 1961. 13. The Ld. AO in the assessment order dt. 26/12/2016 has stated that return declaring income of profit of business is of Rs. 31,54,889/- filed on 29/11/2014 and same is set off against depreciation

M/S TJR PROPERTIES PVT. LTD.,CHANDIGARH vs. ACIT, CC-2, CHANDIGARH

Bench: SHRI A.D.JAIN (Vice President), SHRI VIKRAM SINGH YADAV (Accountant Member)

depreciation on vehicle to the extent of Rs. 9,11,4884/- without any justification. 15. That the appellant craves leave to add, alter, amend or withdraw any grounds of appeal before the final hearing. 2.1 The following additional Grounds have also been taken by the Assessee: 1. That the approval u/s 153D was granted by the JCIT without application