PRIYANKA,SIRSA vs. PR.CIT, ROHTAK

The appeal of the assessee is allowed

Bench: Shri Sudhanshu Srivastava & Shri Vikram Singh Yadavआयकरअपीलसं./Ita No.149/Chd/2021 "नधा"रणवष" / Assessment Year :2016-17 Sh. Rajeev Goyal Pr. Commissioner Of Income बनाम M/S R.K. Associates, Tax, Rohtak B.G. Complex Near Ganesh Dharam Kanta, Sirsa -125055, Haryana "थायीलेखासं./Pan No: Aibpg7289A अपीलाथ"/Appellant ""यथ"/Respondent

depreciation was claimed in excess has not been undertaken by the Principal Commissioner of Income-tax. 12. Mr. Asheesh Jain then volunteered that the Principal Commissioner of Income-tax had exercised the second option available to him under section 263(1

PRIYA GOYAL,SIRSA vs. PR.CIT, ROHTAK

The appeal of the assessee is allowed

Bench: Shri Sudhanshu Srivastava & Shri Vikram Singh Yadavआयकरअपीलसं./Ita No.149/Chd/2021 "नधा"रणवष" / Assessment Year :2016-17 Sh. Rajeev Goyal Pr. Commissioner Of Income बनाम M/S R.K. Associates, Tax, Rohtak B.G. Complex Near Ganesh Dharam Kanta, Sirsa -125055, Haryana "थायीलेखासं./Pan No: Aibpg7289A अपीलाथ"/Appellant ""यथ"/Respondent

depreciation was claimed in excess has not been undertaken by the Principal Commissioner of Income-tax. 12. Mr. Asheesh Jain then volunteered that the Principal Commissioner of Income-tax had exercised the second option available to him under section 263(1

SHRI. TARSEM GOYAL,SIRSA vs. PR.CIT, ROHTAK

The appeal of the assessee is allowed

Bench: Shri Sudhanshu Srivastava & Shri Vikram Singh Yadavआयकरअपीलसं./Ita No.149/Chd/2021 "नधा"रणवष" / Assessment Year :2016-17 Sh. Rajeev Goyal Pr. Commissioner Of Income बनाम M/S R.K. Associates, Tax, Rohtak B.G. Complex Near Ganesh Dharam Kanta, Sirsa -125055, Haryana "थायीलेखासं./Pan No: Aibpg7289A अपीलाथ"/Appellant ""यथ"/Respondent

depreciation was claimed in excess has not been undertaken by the Principal Commissioner of Income-tax. 12. Mr. Asheesh Jain then volunteered that the Principal Commissioner of Income-tax had exercised the second option available to him under section 263(1

SH. PARSHOTAM GOYAL,SIRSA vs. PR.CIT, ROHTAK

The appeal of the assessee is allowed

Bench: Shri Sudhanshu Srivastava & Shri Vikram Singh Yadavआयकरअपीलसं./Ita No.149/Chd/2021 "नधा"रणवष" / Assessment Year :2016-17 Sh. Rajeev Goyal Pr. Commissioner Of Income बनाम M/S R.K. Associates, Tax, Rohtak B.G. Complex Near Ganesh Dharam Kanta, Sirsa -125055, Haryana "थायीलेखासं./Pan No: Aibpg7289A अपीलाथ"/Appellant ""यथ"/Respondent

depreciation was claimed in excess has not been undertaken by the Principal Commissioner of Income-tax. 12. Mr. Asheesh Jain then volunteered that the Principal Commissioner of Income-tax had exercised the second option available to him under section 263(1

M/S PARDEEP ISPAT(P) LTD.,SIRSA vs. PR.CIT, ROHTAK

The appeal of the assessee is allowed

Bench: Shri Sudhanshu Srivastava & Shri Vikram Singh Yadavआयकरअपीलसं./Ita No.149/Chd/2021 "नधा"रणवष" / Assessment Year :2016-17 Sh. Rajeev Goyal Pr. Commissioner Of Income बनाम M/S R.K. Associates, Tax, Rohtak B.G. Complex Near Ganesh Dharam Kanta, Sirsa -125055, Haryana "थायीलेखासं./Pan No: Aibpg7289A अपीलाथ"/Appellant ""यथ"/Respondent

depreciation was claimed in excess has not been undertaken by the Principal Commissioner of Income-tax. 12. Mr. Asheesh Jain then volunteered that the Principal Commissioner of Income-tax had exercised the second option available to him under section 263(1

SHRI RAJEEV GOYAL,SIRSA vs. PR.CIT, ROHTAK

The appeal of the assessee is allowed

Bench: Shri Sudhanshu Srivastava & Shri Vikram Singh Yadavआयकरअपीलसं./Ita No.149/Chd/2021 "नधा"रणवष" / Assessment Year :2016-17 Sh. Rajeev Goyal Pr. Commissioner Of Income बनाम M/S R.K. Associates, Tax, Rohtak B.G. Complex Near Ganesh Dharam Kanta, Sirsa -125055, Haryana "थायीलेखासं./Pan No: Aibpg7289A अपीलाथ"/Appellant ""यथ"/Respondent

depreciation was claimed in excess has not been undertaken by the Principal Commissioner of Income-tax. 12. Mr. Asheesh Jain then volunteered that the Principal Commissioner of Income-tax had exercised the second option available to him under section 263(1

BHUPINDER SINGH SON OF SH. GURMUKH SINGH ,PUNJAB vs. THE PR COMMISSIONER OF INCOME TAX CHANDIGARH-1, C.R BUILDING HIMALAYA MARG, SECTOR 17-E, CHANDIGARH, PUNJAB

Appeal of the assessee is allowed

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

depreciation on forging press after being satisfied with explanation of assesse which was supported by documents, Commissioner was not justified in invoking jurisdiction under section 263. Ved Parkash Contractors Vs. PCIt as reported in (2017) 88 taxmann.com 393 (Chandigarh – Trib) The order of the Assessing Officer may be brief and cryptic but that by itself is not a sufficient reason

CEIGALL INDIA LIMITED, LUDHIANA,LUDHIANA vs. PRINCIPAL COMMISSIONER OF INCOME TAX, LUDHIANA, LUDHIANA

In the result, the appeal of the assessee stands allowed

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

263 stage is not permissible. 3.5 The AR argued that the so-called discrepancy arose on account of “profit on sale of depreciable assets” of Rs.24.22 lakhs which was adjusted in block of assets u/s 50. The computation of income clearly reflected this treatment and the AO had accepted the same. The PCIT overlooked section 50 which mandates such treatment

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)

section 263(1) of the Act. This is because the order has been passed without making proper and requisite inquiries or verifications which should have been made, thus making the assessment order passed not only erroneous but also prejudicial to the interests of revenue interalia, in the matter of differential rates and amounts of depreciation

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)

section 263(1) of the Act. This is because the order has been passed without making proper and requisite inquiries or verifications which should have been made, thus making the assessment order passed not only erroneous but also prejudicial to the interests of revenue interalia, in the matter of differential rates and amounts of depreciation

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

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)

263 of the Income Tax Act, 1961 by the Learned Principal Commissioner of Income Tax is bad in law in as much as the date of order as per the impugned order is 19.03.2020 and which has been signed without mentioning of a DIN. As per the separate order, the Learned Principal Commissioner of Income Tax has mentioned

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)

1) of Section 263, the date of the order of assessment or of the order of reassessment is to be taken into consideration. In the order of assessment, the return of the assessee under the head of "Lease Equalisation Fund" was accepted. Thereafter, the proceedings for reassessment were initiated by the Assessing Officer and orders of reassessment were passed

BHAGWATI STEEL PROCESSORS,CHANDIGARH vs. PCIT, CHANDIGARH

In the result, the appeal of the Assessee is allowed

263. On\nperusal of the assessment records, we find that the Assessing Officer had issued\nmultiple notices under Section 142(1) of the Income Tax Act, specifically calling for\ncomprehensive details including, inter alia, turnover reconciliation, GST returns, job\nwork income, depreciation

M/S SINGH CONSTRUCTION CO.,PATIALA vs. ACIT, CIRCLE, PATIAL

In the result, the appeal of the assessee is dismissed

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

section 263 of CIT (A), Patiala before the Tribunal. 21. We have heard the rival contentions and purused the material available on record. We find that the present appeal arise out of the assessment order passed by the AO u/s 143(3) r/w 263 dated 24/07/14. In the revision order so passed by the ld CIT, Patiala, as we have

VIRGO ALUMINUM LTD.,SIRMOUR vs. PR. C.I.T., CIRCLE, PATIALA

In the result, appeal of the assessee stands allowed

Bench: Shri Sanjay Garg & Shri Vikram Singh Yadavआयकर अपील सं./ Ita No. 438/Chd/2022 "नधा"रण वष" / Assessment Year : 2017-18

section 263 includes the failure to make such an inquiry. The order becomes erroneous because such an inquiry has not been made and not because there is anything wrong with the order if all the facts stated therein are assumed to be correct." Honble Delhi High Court in Income Tax Officer versus DG Housing Projects Limited

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)

1)(a) and if the assessee claims depreciation on the value of such assets, then, in order to reflect the true income to be available for application for charitable purposes, the assessee should write back in the accounts, the depreciation amount to form ITA 870/CHD/2019 A.Y. 2015-16 7 part of the income to be accounted for application for charitable

DY. COMMISSIONER OF INCOME TAX, AAYAKAR BHAWAN vs. ROCKMAN INDUSTRIES LIMITED, FOCAL POINT

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)

263 is as under: Expenses Ludhiana Haridwar Legal, Prof & Consultation Charges Rs. 10,617,374 Rs. 3,025,968 Gen Admin Exp Rs. 7,709,887 Rs. 2,214,061 Gen Exp Others Rs. 8,52,144 Rs. 40,05,038 Domestic Traveling & Convey- Rs. 3,840,407 Rs. 1,104,566 other Foreign Traveling exp-others