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

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

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

147. If any income\nchargeable to tax, in the\ncase of an assessee, has\nescaped assessment for\nany assessment year, the\nAssessing Officer may,\nsubject to the provisions\nof sections 148 to 153,\nassess or reassess such\nincome or recompute the\nloss or the depreciation

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

147. If any income\nchargeable to tax, in the\ncase of an assessee, has\nescaped assessment for\nany assessment year, the\nAssessing Officer may,\nsubject to the provisions\nof sections 148 to 153,\nassess or reassess such\nincome or recompute the\nloss or the depreciation

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

147. If any income\nchargeable to tax, in the\ncase of an assessee, has\nescaped assessment for\nany assessment year, the\nAssessing Officer may,\nsubject to the provisions\nof sections 148 to 153,\nassess or reassess such\nincome or recompute the\nloss or the depreciation

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

147. If any income\nchargeable to tax, in the\ncase of an assessee, has\nescaped assessment for\nany assessment year, the\nAssessing Officer may,\nsubject to the provisions\nof sections 148 to 153,\nassess or reassess such\nincome or recompute the\nloss or the depreciation

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

147 vide letter dt.\n19/12/2018 which were disposed off by the AO by passing a separate order dt.\n19/12/2018. Thereafter, after issuance of notice under section 143(2) and 142(1)\nand after calling for necessary information and documentation as well as issue\nof specific show cause notice, the AO made an addition of Rs.82,06,338/- being

M/S GREATER MOHALI AREA DEVELOPMENT AUTHORITY,MOHALI vs. DCIT, C-6(1), MOHALI

In the result, the appeal of the assessee is hereby dismissed

Bench: Shri Sanjay Garg & Dr. B.R.R. Kumarassessment Year : 2009-10

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

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)

147/ 148 by playing two innings as there are two separate independent assessment orders one dt. 12/06/2020 under section 9 143 (3) and another under section 147/148 r.w.s 144 read with section 144B of the Income Tax Act. In addition to this the assessee firm has gone through further rigours of proceedings under section 263. The Ld. AR further contended

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)

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 for consideration before the Supreme Court was whether, for the purpose of computing the period of limitation envisaged under sub-section

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 rate of 60 % should not be allowed to assessee. 5. Further various submissions made by the assessee during the assessment proceedings are analyzed as under: • However, first of all it is observed that the order of Hon'ble ITAT in the case of CISCO System(India) Pvt. Limited is related to the Audit Video Conferencing devices and depreciation

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 rate of 60 % should not be allowed to assessee. 5. Further various submissions made by the assessee during the assessment proceedings are analyzed as under: • However, first of all it is observed that the order of Hon'ble ITAT in the case of CISCO System(India) Pvt. Limited is related to the Audit Video Conferencing devices and depreciation

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 rate of 60 % should not be allowed to assessee. 5. Further various submissions made by the assessee during the assessment proceedings are analyzed as under: • However, first of all it is observed that the order of Hon'ble ITAT in the case of CISCO System(India) Pvt. Limited is related to the Audit Video Conferencing devices and depreciation

ANISH GARG,PATIALA vs. ITO WARD-4, PATIALA

In the result, the appeal of the assessee is allowed

section 147 should be exercised. That is to be\nexercised and in exceptional cases. It should not be exercised as a manner of\nroutine and merely because some survey of this nature had taken place. At any\npoint of time and when there was shortage of potato in the market, that such\npowers of survey were invoked. If nothing

INCOME TAX OFFICER, YAMUNA NAGAR vs. RAJESH KHANNA, YAMUNA NAGAR

In the result, the assessee's appeal in ITA

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

147 of the Act. Order under sub-section (d) of section 148A of the Act has been passed in such case vide DIN ITBA/AST/F/148A/2021-22/1042149336(1) dated 30/03/2022 and annexed herewith for reference. 2. I, therefore, propose to assess or reassess such income or recompute the loss or the depreciation

RAJESH KHANNA,NEELKANTH PLYWOOD, YAMUNANAGAR vs. INCOME TAX OFFICER, WARD-3, INCOME TAX OFFICER, YAMUNANAGAR

In the result, the assessee's appeal in ITA

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

147 of the Act. Order under sub-section (d) of section 148A of the Act has been passed in such case vide DIN ITBA/AST/F/148A/2021-22/1042149336(1) dated 30/03/2022 and annexed herewith for reference. 2. I, therefore, propose to assess or reassess such income or recompute the loss or the depreciation

SBS BIOTECH UNIT II,SIRMOUR 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 in any year), as on the first day of the previous year in which the substantial expansion is undertaken." 9. The circular makes it clear that section 80IC of the Act was inserted to give effect to the new package announced by the Union Cabinet. The circular further clarifies that this section provides for deduction for a period

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

In the result, appeal is dismissed

147, finding its basis in the\naforesaid reasons, to be an invalid notice, in keeping with the decision of the\nHon'ble Supreme Court in 'Kelvinator of India Ltd.' (supra), as considered in\n'Dr.Ajit Gupta' (supra). Consequently, all proceedings pursuant thereto,\nculminating in the impugned order for the A.Y. 2007-08, are also held to be null\nand void

DCIT (EXEMPTIONS), CHANDIGARH vs. APEEJAY EDUCATION SOCIETY, LUDHIANA

In the result, the appeal filed by the Revenue and Cross objection

Bench: Shri N.K. Saini & Shrir.L Negi

section 11(5) of the Act, Rs. 2,35,00,000/- on account of bogus purchases and depreciation of Rs. 1,41,00,000/-. The assessee challenged the assessment order before the Ld. CIT(A). The Ld. CIT(A) afterhearing the assessee, partly allowed the appeal and deleted the additions made by the Assessing Officer holding that the assessee