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)

253 of the Income Tax Act, 1961. The assessee is aggrieved by the order passed under Section 263 of the Act, bearing order no. ITBA/REV/F/REV5/2022 dt. 27/03/2023 which is hereinafter referred to as the impugned order. The impugned order has revised the AO’s order no. ITBA/AST/S/143(3) 2020-21/1027309634(1) dt. 12/06/2020 which is hereinafter referred

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.

253 of the Income Tax Act, 1961 as and by way of second appeal under the Act. The assessee is aggrieved by order dt. 22/03/2023 passed in appeal No. 10765/2019-20 of Ld. CIT(A) under section 250 of the Act, which is hereinafter referred to as the “impugned order”. Factual Matrix 2. The assessee is a limited company engaged

M/S PUNJAB TOURISM DEVELOPMENET CORPORATION LIMITED,CHANDIGARH vs. DCIT,CIRCLE-1(1), CHANDIGARH

Appeal of the assessee is allowed

Bench: Ao)

253/- claimed by the assessee. AO has observed during the assessment proceedings that "the main source of income of the company was interest from FDRs with State Bank of Patiala & HDFC Bank and lease rent from Indian Oil Corporation...no actual business activity has been carried out during the year under consideration by the assessee. This is no way means

M/S PUNJAB TOURISM DEVELOPMENET CORPORATION LIMITED,CHANDIGARH vs. DCIT,CIRCLE-1(1), CHANDIGARH

Appeal of the assessee is allowed

Bench: Ao)

253/- claimed by the assessee. AO has observed during the assessment proceedings that "the main source of income of the company was interest from FDRs with State Bank of Patiala & HDFC Bank and lease rent from Indian Oil Corporation...no actual business activity has been carried out during the year under consideration by the assessee. This is no way means

M/S PUNJAB TOURISM DEVELOPMENET CORPORATION LIMITED,CHANDIGARH vs. DCIT,CIRCLE-1(1), CHANDIGARH

Appeal of the assessee is allowed

Bench: Ao)

253/- claimed by the assessee. AO has observed during the assessment proceedings that "the main source of income of the company was interest from FDRs with State Bank of Patiala & HDFC Bank and lease rent from Indian Oil Corporation...no actual business activity has been carried out during the year under consideration by the assessee. This is no way means

M/S PUNJAB TOURISM DEVELOPMENET CORPORATION LIMITED,CHANDIGARH vs. DCIT,CIRCLE-1(1), CHANDIGARH

Appeal of the assessee is allowed

Bench: Ao)

253/- claimed by the assessee. AO has observed during the assessment proceedings that "the main source of income of the company was interest from FDRs with State Bank of Patiala & HDFC Bank and lease rent from Indian Oil Corporation...no actual business activity has been carried out during the year under consideration by the assessee. This is no way means

DCIT, C-,1 (E), CHANDIGARH vs. M/S PUNJAB MEDICAL FOUNDATION CHARITABLE TRUST, JALANDHAR

In the result, appeal of the Revenue is dismissed

Bench: S/Shri N.K. Saini, Vice- & Rajpal Yadav, Vice-"नधा"रण वष"/ Asstt.Year: 2014-15 Dcit, Cir.1(Exemption) M/S.Punjab Medical Foundation Chandigarh. Vs. Charitable Trust 63-64, Waryam Nagar Cool Road, Jalandhar Pan : Aaatp 5171 B (Applicant) (Responent) : Shri Sudhir Sehal, Advocate Assessee By Revenue By : Shri Ashok K. Khana, Addl.Cit सुनवाई क" तार"ख/Date Of Hearing : 18/11/2020 घोषणा क" तार"ख /Date Of Pronouncement: 21/12/2020 आदेश/O R D E R

section 11 4 Profit of chemist shop not a single penny was paid to any utilized by the trustees trustee in any shape by the trust nor the A.O. has given any instance of payment to trustees out of chemist shop HUGE PROFIT ---- 1 Trust is earning huge profit Firstly profit of 5.96% to 14.08 % is that is from

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)

Depreciation 7432860 6383927 16% Admin Exp 11420167 9805464 16% Sub Total 57244859 51110514 12% Expenses Total 90386971 83092356 9% PBT 290853 3371614 -91% 1. Sales growth at 5% has yielded only increase in absolute terms by approx Rs. 42 lacs only. Expenses growth for the year is of 9%, resulting in absolute increase by Rs. 73 lacs. Thereby leaving only

ASSTT.COMMISSIONER OF INCOME TAX, LUDHIANA vs. M/S MRS.BECTORS FOOD SPECILTIES LTD, LUDHIANA

Bench: Smt. Diva Singh & Dr. B.R.R. Kumar

depreciation chart prepared by the assessee for Noida Unit shows the following plant and machinery under the head "fixed assets": - Sr. No. Particulars of assets Balance as on 31st March 2006 1 Crates and Moulds 39,38,644/- 2 Generator 1,86,916/- 3 Misc. Fixed Assets 18,65,078/- 4 Plant & Machinery 55,96,008/- 5 Transformer 1

ASSTT.COMMISSIONER OF INCOME TAX, LUDHIANA vs. M/S MRS.BECTORS FOOD SPECILTIES LTD, LUDHIANA

Bench: Smt. Diva Singh & Dr. B.R.R. Kumar

depreciation chart prepared by the assessee for Noida Unit shows the following plant and machinery under the head "fixed assets": - Sr. No. Particulars of assets Balance as on 31st March 2006 1 Crates and Moulds 39,38,644/- 2 Generator 1,86,916/- 3 Misc. Fixed Assets 18,65,078/- 4 Plant & Machinery 55,96,008/- 5 Transformer 1

ASSTT.COMMISSIONER OF INCOME TAX, LUDHIANA vs. M/S MRS.BECTORS FOOD SPECILTIES LTD, LUDHIANA

Bench: Smt. Diva Singh & Dr. B.R.R. Kumar

depreciation chart prepared by the assessee for Noida Unit shows the following plant and machinery under the head "fixed assets": - Sr. No. Particulars of assets Balance as on 31st March 2006 1 Crates and Moulds 39,38,644/- 2 Generator 1,86,916/- 3 Misc. Fixed Assets 18,65,078/- 4 Plant & Machinery 55,96,008/- 5 Transformer 1

ASSTT.COMMISSIONER OF INCOME TAX, LUDHIANA vs. M/S MRS.BECTORS FOOD SPECILTIES LTD, LUDHIANA

Bench: Smt. Diva Singh & Dr. B.R.R. Kumar

depreciation chart prepared by the assessee for Noida Unit shows the following plant and machinery under the head "fixed assets": - Sr. No. Particulars of assets Balance as on 31st March 2006 1 Crates and Moulds 39,38,644/- 2 Generator 1,86,916/- 3 Misc. Fixed Assets 18,65,078/- 4 Plant & Machinery 55,96,008/- 5 Transformer 1

ASSTT.COMMISSIONER OF INCOME TAX, LUDHIANA vs. M/S MRS.BECTORS FOOD SPECILTIES LTD, LUDHIANA

Bench: Smt. Diva Singh & Dr. B.R.R. Kumar

depreciation chart prepared by the assessee for Noida Unit shows the following plant and machinery under the head "fixed assets": - Sr. No. Particulars of assets Balance as on 31st March 2006 1 Crates and Moulds 39,38,644/- 2 Generator 1,86,916/- 3 Misc. Fixed Assets 18,65,078/- 4 Plant & Machinery 55,96,008/- 5 Transformer 1

ACIT, LUDHIANA vs. M/S MRS. BECTORS FOOD SPECIALTIES PVT. LTD., LUDHIANA

Bench: Smt. Diva Singh & Dr. B.R.R. Kumar

depreciation chart prepared by the assessee for Noida Unit shows the following plant and machinery under the head "fixed assets": - Sr. No. Particulars of assets Balance as on 31st March 2006 1 Crates and Moulds 39,38,644/- 2 Generator 1,86,916/- 3 Misc. Fixed Assets 18,65,078/- 4 Plant & Machinery 55,96,008/- 5 Transformer 1

DCIT CIRCLE-4, LUDHIANA, LUDHIANA vs. ROCKMAN INDUSTRIES LTD, LUDHIANA

In the result order of CIT(A) is sustained as passed and the appeal of the Revenue is partly allowed for statistical purposes

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

253 of the Income Tax Act, 1961 (hereinafter referred to as Act) before this Tribunal. The Revenue is aggrieved by the order bearing No. ITBA/NFAC/S/250/2023- 24/1056753913(i) dt. 04/10/2023 dt. 04/10/2023 of Ld. CIT(A) which is hereinafter referred to as the “impugned order” . The impugned order is passed in the first appellate proceedings

ASSTT. COMMISSIONER OF INCOME TAX, CIRCLE-4, AAYAKAR BHAWAN vs. ROCKMAN INDUSTRIES LIMITED, -

In the result order of CIT(A) is sustained as passed and the appeal of the Revenue is partly allowed for statistical purposes

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

253 of the Income Tax Act, 1961 (hereinafter referred to as Act) before this Tribunal. The Revenue is aggrieved by the order bearing No. ITBA/NFAC/S/250/2023- 24/1056753913(i) dt. 04/10/2023 dt. 04/10/2023 of Ld. CIT(A) which is hereinafter referred to as the “impugned order” . The impugned order is passed in the first appellate proceedings

DY. COMMISSIONER OF INCOME TAX, CIRCLE-4,, AAYAKAR BHAWAN vs. ROCKMAN INDUSTRIES LIMITED, -

In the result order of CIT(A) is sustained as passed and the appeal of the Revenue is partly allowed for statistical purposes

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

253 of the Income Tax Act, 1961 (hereinafter referred to as Act) before this Tribunal. The Revenue is aggrieved by the order bearing No. ITBA/NFAC/S/250/2023- 24/1056753913(i) dt. 04/10/2023 dt. 04/10/2023 of Ld. CIT(A) which is hereinafter referred to as the “impugned order” . The impugned order is passed in the first appellate proceedings

DY. COMMISSIONER OF INCOME TAX, CIRCLE-4, AAYAKAR BHAWAN vs. ROCKMAN INDUSTRIES LIMITED, -

In the result order of CIT(A) is sustained as passed and the appeal of the Revenue is partly allowed for statistical purposes

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

253 of the Income Tax Act, 1961 (hereinafter referred to as Act) before this Tribunal. The Revenue is aggrieved by the order bearing No. ITBA/NFAC/S/250/2023- 24/1056753913(i) dt. 04/10/2023 dt. 04/10/2023 of Ld. CIT(A) which is hereinafter referred to as the “impugned order” . The impugned order is passed in the first appellate proceedings