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 as application of income. ITA 870/CHD/2019 A.Y. 2015-16 33 33. The ld. DR on the other hand has placed reliance on the CIT(A)’s order in this regard also. 34. As noted above, while dealing with Ground No.3, order (supra) dated 21.10.2016 stands passed by this Bench in the assessee's case for assessment years

M/S APEX BUILDERS, LUDHIANA vs. ITO, W-2(1), LUDHIANA

The appeal is partly allowed

Bench: SHRI. LALIET KUMAR (Judicial Member)

section 40A(3) of the Act. The total amount of such purchases aggregated to Rs . 16,33,037/-. No satisfactory explanation for seeking the deduction and falling under the exception mentioned in Rule 6DD was provided by the assessee. Therefore, the Assessing Officer had disallowed the entire amount of Rs. 16,33,037/-. 4.3 Additionally, the AO observed another

KAKA SINGH ALIAS GULJAR SINGH,PATIALA vs. INCOME TAX OFFICER , PATIALA

33 of\n2009 have been elaborated in the following portion of the departmental\ncircular No. 5/2010, dated 3.6.2010, as follows:\n\"Rationalizing the provisions for taxation of interest received on delayed\ncompensation or on enhanced compensation.-\n46.1 The existing provisions of Income Tax Act, 1961, provide that income chargeable\nunder the head \"Profits and gains of business or profession

THE SIKH EDUCATIONAL SOCIETY,PATIALA vs. ADDL. CIT, RANGE, PATIALA

Bench: The Ld. Cit(A) Against Assessment Order Dt. 30/03/2013 Which Was Passed By Additional Commissioner Of Income Tax, Patiala Range, Patiala, Punjab Which Order Is Hereinafter Referred To As “Ao’S Order”.

section 154 of the Income Tax Act, 1961 18. Upon application of the assessee on 03/04/2013 following rectification order was passed : 7. Keeping in view of the above discussion, the addition on account of depreciation on building under construction is required to be made at Rs. 72,33

JCIT(OSD), C-1, (E), CHANDIGARH vs. THE SIKH EDUCATIONAL SOCIETY, PATIALA

Bench: The Ld. Cit(A) Against Assessment Order Dt. 30/03/2013 Which Was Passed By Additional Commissioner Of Income Tax, Patiala Range, Patiala, Punjab Which Order Is Hereinafter Referred To As “Ao’S Order”.

section 154 of the Income Tax Act, 1961 18. Upon application of the assessee on 03/04/2013 following rectification order was passed : 7. Keeping in view of the above discussion, the addition on account of depreciation on building under construction is required to be made at Rs. 72,33

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 under the Act has been computed. [Para 5] In the instant case, after the service of the notice under section 148, the assessee had filed its objections for reopening the assessment to the effect that in the light of the binding decision of High Court and the decision of the Tribunal there

ITO, WARD-6(1), MOHALI vs. QUARKCITY INDIA PVT. LTD., MPHALI

In the result, the appeal filed by the Revenue is dismissed

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

33,03,064/- minus 1,26,978/-) is capitalized and added to the returned loss. The amount of capitalization under CWIP is also increased to the extent. Penalty u/s 271(1)(c) of the I.T. Act, 1961 for furnishing inaccurate particular leading to concealment of the income. The appellant has submitted that, "In this regard it is respectfully submitted that

ITO, WARD-6(1), MOHALI vs. QUARKCITY INDIA PVT. LTD., MPHALI

In the result, the appeal filed by the Revenue is dismissed

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

33,03,064/- minus 1,26,978/-) is capitalized and added to the returned loss. The amount of capitalization under CWIP is also increased to the extent. Penalty u/s 271(1)(c) of the I.T. Act, 1961 for furnishing inaccurate particular leading to concealment of the income. The appellant has submitted that, "In this regard it is respectfully submitted that

ITO, WARD-6(1), MOHALI vs. QUARKCITY INDIA PVT. LTD., MOHALI

In the result, the appeal filed by the Revenue is dismissed

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

33,03,064/- minus 1,26,978/-) is capitalized and added to the returned loss. The amount of capitalization under CWIP is also increased to the extent. Penalty u/s 271(1)(c) of the I.T. Act, 1961 for furnishing inaccurate particular leading to concealment of the income. The appellant has submitted that, "In this regard it is respectfully submitted that

ITO, WARD-6(1), MOHALI vs. QUARKCITY INDIA PVT. LTD., MOHALI

In the result, the appeal filed by the Revenue is dismissed

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

33,03,064/- minus 1,26,978/-) is capitalized and added to the returned loss. The amount of capitalization under CWIP is also increased to the extent. Penalty u/s 271(1)(c) of the I.T. Act, 1961 for furnishing inaccurate particular leading to concealment of the income. The appellant has submitted that, "In this regard it is respectfully submitted that

ITO, WARD-6(1), MOHALI vs. QUARKCITY INDIA PVT. LTD., MPHALI

In the result, the appeal filed by the Revenue is dismissed

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

33,03,064/- minus 1,26,978/-) is capitalized and added to the returned loss. The amount of capitalization under CWIP is also increased to the extent. Penalty u/s 271(1)(c) of the I.T. Act, 1961 for furnishing inaccurate particular leading to concealment of the income. The appellant has submitted that, "In this regard it is respectfully submitted that

ITO, WARD-6(1), MOHALI vs. QUARKCITY INDIA PVT. LTD., MPHALI

In the result, the appeal filed by the Revenue is dismissed

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

33,03,064/- minus 1,26,978/-) is capitalized and added to the returned loss. The amount of capitalization under CWIP is also increased to the extent. Penalty u/s 271(1)(c) of the I.T. Act, 1961 for furnishing inaccurate particular leading to concealment of the income. The appellant has submitted that, "In this regard it is respectfully submitted that

ITO, WARD-6(1), MOHALI vs. QUARKCITY INDIA PVT. LTD., MOHALI

In the result, the appeal filed by the Revenue is dismissed

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

33,03,064/- minus 1,26,978/-) is capitalized and added to the returned loss. The amount of capitalization under CWIP is also increased to the extent. Penalty u/s 271(1)(c) of the I.T. Act, 1961 for furnishing inaccurate particular leading to concealment of the income. The appellant has submitted that, "In this regard it is respectfully submitted that

ITO, WARD-6(1), MOHALI vs. QUARKCITY INDIA PVT. LTD., MOHALI

In the result, the appeal filed by the Revenue is dismissed

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

33,03,064/- minus 1,26,978/-) is capitalized and added to the returned loss. The amount of capitalization under CWIP is also increased to the extent. Penalty u/s 271(1)(c) of the I.T. Act, 1961 for furnishing inaccurate particular leading to concealment of the income. The appellant has submitted that, "In this regard it is respectfully submitted that

ITO, WARD-6(1), MOHALI vs. QUARKCITY INDIA PVT. LTD., MOHALI

In the result, the appeal filed by the Revenue is dismissed

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

33,03,064/- minus 1,26,978/-) is capitalized and added to the returned loss. The amount of capitalization under CWIP is also increased to the extent. Penalty u/s 271(1)(c) of the I.T. Act, 1961 for furnishing inaccurate particular leading to concealment of the income. The appellant has submitted that, "In this regard it is respectfully submitted that

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)

depreciation allowance or any other allowance under this Act has been computed." 30. A perusal of the above provision shows that the power to assess or re- assess the escaped income for any assessment year has been conferred upon the Assessing Officer where he has reason to believe that the income chargeable to tax has escaped assessment. However, in cases

NARENDER KAUR,KURUKSHETRA, HARYANA vs. INCOME TAX OFFICER WARD-1 , KURUKSHETRA

33 of\n2009 have been elaborated in the following portion of the departmental\ncircular No. 5/2010, dated 3.6.2010, as follows:\n\"Rationalizing the provisions for taxation of interest received on delayed\ncompensation or on enhanced compensation.-\n46.1 The existing provisions of Income Tax Act, 1961, provide that income chargeable\nunder the head \"Profits and gains of business or profession

SH. AJIT SINGH,PINJORE vs. ITO, WARD-1, PANCHKULA

33 of\n2009 have been elaborated in the following portion of the departmental\ncircular No. 5/2010, dated 3.6.2010, as follows:\n\"Rationalizing the provisions for taxation of interest received on delayed\ncompensation or on enhanced compensation.-\n46.1 The existing provisions of Income Tax Act, 1961, provide that income chargeable\nunder the head \"Profits and gains of business or profession