M/S SUPERFINE KNITTERS LTD.,LUDHIANA vs. ACIT, LUDHIANA

Bench: Shri Sanjay Garg & Smt. Annapurna Guptaassessment Year: 2009-10 M/S Superfine Knitters Ltd., Vs. The Acit, 269, Industrial Area-A, Circle-7, Ludhiana. Ludhiana. Pan No. Aadcs4217P

section 147 for the A.Y. 2009-10. Issue notice u/s 148. ( ) (Dr. Rahul Sohu) Asstt.Commissionerof Income Tax Circle-VII, Ludhiana. 7. Drawing our attention to the same, ld. counsel for the assessee stated that the reason with the AO leading to the 5 A.Y. 2009-10 belief of escapement of income was that, subsidy received by the assessee of Rs.26

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 has been wrongly computed the same be computed as per the facts of the case. 6. As per the facts and circumstance of the case and as per the provisions of law, theDispute Resolution Panel has erred in its directions, and the assessing officer has erred in disallowing Rs. 34,60,940/- u/s 14A of the Income

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 has been wrongly computed the same be computed as per the facts of the case. 6. As per the facts and circumstance of the case and as per the provisions of law, theDispute Resolution Panel has erred in its directions, and the assessing officer has erred in disallowing Rs. 34,60,940/- u/s 14A of the Income

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)

234B & 234C of the Income Tax Act, as applicable. The calculation sheet is enclosed as the part of the assessment order. 13.2 Basis above assessment order dt. 24/03/2023 under section 147 r.w.s 144 read with Section 144B of the Income Tax Act, the Ld. AR vehemently contended that assessee has gone through the rigours of the proceedings under section

DCIT, SANGRUR vs. M/S H.M. STEEL LTD., SANGRUR

In the result, this appeal of the Revenue is partly allowed

Bench: Shri Sanjay Garg & Dr. B.R.R. Kumarआयकर अपील सं Ita No. 366/Chd/2013 "नधा"रण वष" / Assessment Year : 2008-09

depreciation has no direct or proximate connection as an expense incurred for earning any income from such industrial undertaking and is being allowed because of statutory provisions like statutory policies. 7. That the learned Appellate Authority wrongly and illegally failed to consider and give any finding that interest U/s 234B and 234-C, on the facts and circumstances

DCIT, SANGRUR vs. M/S H.M. STEEL LTD., SANGRUR

In the result, this appeal of the Revenue is partly allowed

Bench: Shri Sanjay Garg & Dr. B.R.R. Kumarआयकर अपील सं Ita No. 366/Chd/2013 "नधा"रण वष" / Assessment Year : 2008-09

depreciation has no direct or proximate connection as an expense incurred for earning any income from such industrial undertaking and is being allowed because of statutory provisions like statutory policies. 7. That the learned Appellate Authority wrongly and illegally failed to consider and give any finding that interest U/s 234B and 234-C, on the facts and circumstances

DCIT, SANGRUR vs. M/S H.M. STEEL LTD., SANGRUR

In the result, this appeal of the Revenue is partly allowed

Bench: Shri Sanjay Garg & Dr. B.R.R. Kumarआयकर अपील सं Ita No. 366/Chd/2013 "नधा"रण वष" / Assessment Year : 2008-09

depreciation has no direct or proximate connection as an expense incurred for earning any income from such industrial undertaking and is being allowed because of statutory provisions like statutory policies. 7. That the learned Appellate Authority wrongly and illegally failed to consider and give any finding that interest U/s 234B and 234-C, on the facts and circumstances

H.M. STEELS LTD.,SANGRUR vs. ACIT, SANGRUR

In the result, this appeal of the Revenue is partly allowed

Bench: Shri Sanjay Garg & Dr. B.R.R. Kumarआयकर अपील सं Ita No. 366/Chd/2013 "नधा"रण वष" / Assessment Year : 2008-09

depreciation has no direct or proximate connection as an expense incurred for earning any income from such industrial undertaking and is being allowed because of statutory provisions like statutory policies. 7. That the learned Appellate Authority wrongly and illegally failed to consider and give any finding that interest U/s 234B and 234-C, on the facts and circumstances

ACIT, SANGRUR vs. M/S H.M.STEELS LTD, DIRBA

In the result, this appeal of the Revenue is partly allowed

Bench: Shri Sanjay Garg & Dr. B.R.R. Kumarआयकर अपील सं Ita No. 366/Chd/2013 "नधा"रण वष" / Assessment Year : 2008-09

depreciation has no direct or proximate connection as an expense incurred for earning any income from such industrial undertaking and is being allowed because of statutory provisions like statutory policies. 7. That the learned Appellate Authority wrongly and illegally failed to consider and give any finding that interest U/s 234B and 234-C, on the facts and circumstances

M/S H.M. STEEL LTD.,SANGRUR vs. ADDL. CIT, SANGRUR

In the result, this appeal of the Revenue is partly allowed

Bench: Shri Sanjay Garg & Dr. B.R.R. Kumarआयकर अपील सं Ita No. 366/Chd/2013 "नधा"रण वष" / Assessment Year : 2008-09

depreciation has no direct or proximate connection as an expense incurred for earning any income from such industrial undertaking and is being allowed because of statutory provisions like statutory policies. 7. That the learned Appellate Authority wrongly and illegally failed to consider and give any finding that interest U/s 234B and 234-C, on the facts and circumstances

H.M. STEELS LTD.,SANGRUR vs. ACIT, SANGRUR

In the result, this appeal of the Revenue is partly allowed

Bench: Shri Sanjay Garg & Dr. B.R.R. Kumarआयकर अपील सं Ita No. 366/Chd/2013 "नधा"रण वष" / Assessment Year : 2008-09

depreciation has no direct or proximate connection as an expense incurred for earning any income from such industrial undertaking and is being allowed because of statutory provisions like statutory policies. 7. That the learned Appellate Authority wrongly and illegally failed to consider and give any finding that interest U/s 234B and 234-C, on the facts and circumstances

M/S ASHA TECHNOLOGIES,SIRMOUR vs. ADDL. CIT, SOLAN

In the result, both the above appeals of the Assessee are partly allowed as aforesaid in respect of impugned orders dt

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

section 40A(3) of Income Tax Act 1961 .Therefore, this amount of Rs 1,23,299/- is added back to the income of the assessee being unexplained cash credit since the same are not reflected in assessee's regular books of accounts on those relevant dates.. Since the above transaction also violated the provisions of section

M/S ASHA TECHNOLOGIES,KALA AMB vs. ITO, SIRMOUR

In the result, both the above appeals of the Assessee are partly allowed as aforesaid in respect of impugned orders dt

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

section 40A(3) of Income Tax Act 1961 .Therefore, this amount of Rs 1,23,299/- is added back to the income of the assessee being unexplained cash credit since the same are not reflected in assessee's regular books of accounts on those relevant dates.. Since the above transaction also violated the provisions of section

ACIT, CHANDIGARH vs. M/S GLAXO SMITHKLINE ASIA PVT. LTD., GURGAON

In the result, all the appeals of the assessee and the Revenue, stand partly allowed for statistical purposes

section 40(a)(i) of the Act, with respect to purchase of vaccine amounting to Rs. 19,12,91,000 made from GlaxoSmithKIine Biological S.A. ('GSK, Bio'}, Belgium, allegedly holding that the appellant -as failed to deduct tax at source from such payment. 2.1 That the CIT(A) erred on facts and in law in allegedly holding that

GLAXOSMITHKLINE ASIA PVT. LTD.,GURGAON vs. DCIT, CHANDIGARH

In the result, all the appeals of the assessee and the Revenue, stand partly allowed for statistical purposes

section 40(a)(i) of the Act, with respect to purchase of vaccine amounting to Rs. 19,12,91,000 made from GlaxoSmithKIine Biological S.A. ('GSK, Bio'}, Belgium, allegedly holding that the appellant -as failed to deduct tax at source from such payment. 2.1 That the CIT(A) erred on facts and in law in allegedly holding that

M/S GLAXO SMITHKLINE ASIA PVT. LTD.,GURGAON vs. ACIT, C-4(1), CHANDIGARH

In the result, all the appeals of the assessee and the Revenue, stand partly allowed for statistical purposes

section 40(a)(i) of the Act, with respect to purchase of vaccine amounting to Rs. 19,12,91,000 made from GlaxoSmithKIine Biological S.A. ('GSK, Bio'}, Belgium, allegedly holding that the appellant -as failed to deduct tax at source from such payment. 2.1 That the CIT(A) erred on facts and in law in allegedly holding that

ACIT, CHANDIGARH vs. M/S GLAXO SMITHKLINE ASIA PVT. LTD., GURGAON

In the result, all the appeals of the assessee and the Revenue, stand partly allowed for statistical purposes

section 40(a)(i) of the Act, with respect to purchase of vaccine amounting to Rs. 19,12,91,000 made from GlaxoSmithKIine Biological S.A. ('GSK, Bio'}, Belgium, allegedly holding that the appellant -as failed to deduct tax at source from such payment. 2.1 That the CIT(A) erred on facts and in law in allegedly holding that

GLAXOSMITHKLINE ASIA PVT. LTD.,GURGAON vs. DCIT, CHANDIGARH

In the result, all the appeals of the assessee and the Revenue, stand partly allowed for statistical purposes

section 40(a)(i) of the Act, with respect to purchase of vaccine amounting to Rs. 19,12,91,000 made from GlaxoSmithKIine Biological S.A. ('GSK, Bio'}, Belgium, allegedly holding that the appellant -as failed to deduct tax at source from such payment. 2.1 That the CIT(A) erred on facts and in law in allegedly holding that