DY.CIT, CIRCLE-1(1), CHANDIGARH vs. M/S GLAXOSMITHKLINE CONSUMER PVT. LTD., NABHA

In the result, Revenue’s appeal is dismissed

Bench: Shri Rajpal Yadav & Shri Krinwant Sahayआयकर अपील सं./ Ita No. 121/Chd/2023 "नधा"रण वष" / Assessment Year : 2016-17 Dcit, M/S Glaxosmithkline Circle 1(1), बनाम Consumer Pvt. Ltd., Chandigarh Patiala Road, Vs. Nabha. Punjab "थायी लेखा सं./Pan No. Aafcg8415R अपीलाथ"/Appellant ""यथ"/Respondent ( Hybrid Mode ) "नधा"रती क" ओर से/Assessee By : Sh. Ajay Vohra, Sr. Advocate With Sh. Neeraj Jain, Advocate & Ms. Somya Jain, Ca (Virtual) राज"व क" ओर से/ Revenue By : Shri Manav Bansal, Cit Dr सुनवाई क" तार"ख/Date Of Hearing : 06.08.2025 उदघोषणा क" तार"ख/Date Of Pronouncement : 16.10.2025 आदेश/Order Per Krinwant Sahay, Am:

depreciation should have been given @ 50% instead of 100%. 5. Per contra, the Ld. Counsel of the Assessee filed a written submission and argued on the line of the written submissions. His submissions are reproduced as under: 6 121-Chd-2023 M/s Glaxosmithkline Consumer Pvt. Ltd, Nabha “SUBMISSIONS Re (I): Slump sale does not fall within the definition of succession

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)

depreciation current year income year 2012-13 25199906 7429889 17770017 2013-14 7027382 0 7027382 Total 32227288 7429889 24797399 Losses to be carried forward Rs. 2,47,97,399/-. Assessed. Issue requisite documents. Charge Interest u/s 234A/B/C, if any. Penalty proceedings u/s 271(1)(c) of the I.T. Act is being initiated separately for furnishing inaccurate particulars of income. 25

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)

depreciation was also dealt with accordingly. 14.3 Further, in case the AO, after passing of the order, felt it so necessary, he would have invoked the provisions of Section 154 in order to rectify, if he so felt it necessary to do so. 15. Still further, it was only and only the AO passing the order originally who could have

WINSOME TEXTILE INDUSTRIES LIMITED,CHANDIGARH vs. ASSTT. COMMISSIONER OF INCOME TAX, CIRCLE-4(1), CHANDIGARH, CHANDIGARH

In the result, the appeal of the assessee is partly allowed and the appeal of the Revenue is dismissed

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

25. At this stage it requires to be noted that since the original assessment was processed under Section 143 (1) of the Act, and not Section 143 (3) of the Act, the proviso to Section 147 will not apply. In other words, even though the reopening in the present case was after the expiry of four years from

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

SANJEEV BATISH,PANCHKULA vs. DCIT, CIRCLE, PANCHKULA

Appeal of the assessee is allowed

25%. Similar view has been taken by the CIT(A). 8. We find that the Hon'ble Apex Court in the case of Pr. CIT Vs. Aarham Softronics (supra) had decided similar issue. The question before Hon'ble Court was: “Whether an assessee who sets up a new industry of a kind mentioned in sub-section(2) of Section

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

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)

depreciation was claimed in excess has not been undertaken by the PCIT.” Mr. Asheesh Jain then volunteered that the PCIT had exercised the second option available to him under Section 263 (1) of the Act by sending the entire 20 matter back to the AO for a fresh assessment. That option, in the considered view of the Court

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

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)

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 (1) of Section 263, the date

HEALTH BIOTECH LIMITED,CHANDIGARH vs. DEPUTY COMMISSIONER OF INCOME TAX,CIRCLE 1(1), CHANDIGARH

In the result, the appeal of the assessee is allowed

Bench: the disposal of the same.

25,52,043/-. 3. That on facts, circumstances and legal position of the case, Worthy CIT(A) has erred in confirming the action of Ld. AO of imposition of penalty u/s 271(1)(c) of Rs. 69,68,581/- on account of disallowance u/s 40(a)(ia) of Rs. 2,23,34,758/-. 4. That on facts, circumstances and legal

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)

25. Write off of trade receivable was a commercial decision taken in the best business interest of the business and constitutes expenses in terms of section 37(1) of the Act. 26. Thus, expenditure is even otherwise allowable as business loss / expense in terms of section 28/37 of the Act. 27. Accordingly, the reassessment proceedings initiated

KANDI FRIENDS EDUCATIONAL TRUST,ROPAR vs. DEPUTY COMMISSION OF INCOME TAX, CL. 1, EXEMPTION, CHANDIGARH

In the result, both the appeals are allowed

Bench: Shri Rajpal Yadav & Shri Krinwant Sahay

Depreciation disallowed and excess of income 2,82,41,720 over expenditure Total Taxable Income 10,47,74,451 5. The assessee has taken eight grounds of appeal in assessment year 2014-15 and ten grounds of appeal in assessment year 2015-16. In brief, its grievance revolves around the additions noticed by us in the above table and rest

KANDI FRIENDS EDUCATIONAL TRUST,ROPAR vs. DEPUTY COMMISSIONER OF INCOME TAX, CHANDIGARH

In the result, both the appeals are allowed

Bench: Shri Rajpal Yadav & Shri Krinwant Sahay

Depreciation disallowed and excess of income 2,82,41,720 over expenditure Total Taxable Income 10,47,74,451 5. The assessee has taken eight grounds of appeal in assessment year 2014-15 and ten grounds of appeal in assessment year 2015-16. In brief, its grievance revolves around the additions noticed by us in the above table and rest

SHRI BALBIR SINGH VERMA,SHIMLA vs. PR.CIT, SHIMLA

In the result, appeal of the Assessee is allowed

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

25,00,000/- declared post a survey under Section 133A conducted on 04.03.2015. 3.2 Regarding Interest Claimed under Section 24(b) of the Act, the AO observed that the assessee claimed Rs. 39,15,328/- as interest on borrowed capital for seven properties under Section 24(b). The Ld. AO asked the assessee to provide loan agreements and bank certificates

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

BANGA HOSPITALS PRIVATE LIMITED,MANDI vs. ITO, MANDI

In the result, appeal of the Assessee is partly allowed

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

Section 69. The assessee submitted that the balance amount had been paid from its own funds through identifiable bank transactions and that all payments were duly recorded in the books of accounts. The assessee placed reliance on audited financial statements, bank statements, depreciation chart, loan documents, and ledger accounts. It was pointed out that the AO made the addition

SH. GURINDER MAKKAR,LUDHIANA vs. DCIT, CC-3, LUDHIANA

In the result, the appeal of the assessee is disposed off in light of aforesaid directions

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

depreciation of such building would result in double taxation. 6.9 It was submitted that as the assessee has duly paid tax on all such amount of surrender made by the assessee, therefore, making additions of the same amount to the total income of the assessee are wholly invalid as it results 'double taxation and therefore, against the principles of natural