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)

36(1)(vii) of the Act. Basis section 147 the Department / Revenue contends that a mere perusal of Section 147 reveal that there is no reference or mention explicity or impliedly to a new tangible information as claimed by the assessee to the effect that there must be a new tangible information for reopening of the assessment

M/S IOL CHEMICALS AND PHARMACEUTICALS LTD.,LUDHIANA vs. ADDL. CIT, R-I, LUDHIANA

In the result, appeal of the Assessee is allowed for statistical purposes

section 36(1)(iii) of the Act which was worked out @13% on Rs. 2,06,24,284/- 5. Being aggrieved the assessee carried the matter to the Ld. CIT(A) and submitted as under: GROUND No. 1 Disallowance of interest u/s 36(1)(iii) Regarding the disallowance of interest u/s 36(l)iii), it is submitted that the debit

VIMAL ALLOYS PRIVATE LIMITED, MANDI GOBINDGARH,PUNJAB vs. JAO THE DEPUTY COMMISSIONER OF INCOME TAX CIRCLE, PATIALA, PUNJAB

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

depreciation allowable on plant and machinery was to be allowed - Reasons for opening assessment which had already been concluded did not show that there was any failure on part of assessee to disclose fully and truly all material facts and thus, it was merely a change of opinion - Whether reassessment was justified - Held, no [Para 11] [In favour of assessee

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)

36: 1. That the Ld. CIT (A) NFAC New Delhi has erred in deciding that the disallowances of deduction claimed U/s 80IC done by the Assessing officer is against the law and facts of the case. That based on the facts and circumstances of the case the Ld. CIT (A) is 2. not justified in deleting disallowance of misc.other expenses

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)

36: 1. That the Ld. CIT (A) NFAC New Delhi has erred in deciding that the disallowances of deduction claimed U/s 80IC done by the Assessing officer is against the law and facts of the case. That based on the facts and circumstances of the case the Ld. CIT (A) is 2. not justified in deleting disallowance of misc.other expenses

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)

36: 1. That the Ld. CIT (A) NFAC New Delhi has erred in deciding that the disallowances of deduction claimed U/s 80IC done by the Assessing officer is against the law and facts of the case. That based on the facts and circumstances of the case the Ld. CIT (A) is 2. not justified in deleting disallowance of misc.other expenses

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)

36: 1. That the Ld. CIT (A) NFAC New Delhi has erred in deciding that the disallowances of deduction claimed U/s 80IC done by the Assessing officer is against the law and facts of the case. That based on the facts and circumstances of the case the Ld. CIT (A) is 2. not justified in deleting disallowance of misc.other expenses

DY. COMMISSIONER OF INCOME TAX, CIRCLE-4, LUDHIANA, - vs. ROCKMAN INDUSTRIES LTD, -

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)

36: 1. That the Ld. CIT (A) NFAC New Delhi has erred in deciding that the disallowances of deduction claimed U/s 80IC done by the Assessing officer is against the law and facts of the case. That based on the facts and circumstances of the case the Ld. CIT (A) is 2. not justified in deleting disallowance of misc.other expenses

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)

36: 1. That the Ld. CIT (A) NFAC New Delhi has erred in deciding that the disallowances of deduction claimed U/s 80IC done by the Assessing officer is against the law and facts of the case. That based on the facts and circumstances of the case the Ld. CIT (A) is 2. not justified in deleting disallowance of misc.other expenses

DY. COMMISSIONER OF INCOME TAX, CIRCLE-4, LUDHIANA, 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)

36: 1. That the Ld. CIT (A) NFAC New Delhi has erred in deciding that the disallowances of deduction claimed U/s 80IC done by the Assessing officer is against the law and facts of the case. That based on the facts and circumstances of the case the Ld. CIT (A) is 2. not justified in deleting disallowance of misc.other expenses

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)

36: 1. That the Ld. CIT (A) NFAC New Delhi has erred in deciding that the disallowances of deduction claimed U/s 80IC done by the Assessing officer is against the law and facts of the case. That based on the facts and circumstances of the case the Ld. CIT (A) is 2. not justified in deleting disallowance of misc.other expenses

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

iii) The Ld. PCIT noted that there was a regular give and take between the assessee and M/s Metalmine Enterprises, and that there was a relationship of deep trust, based on which the assessee was regularly transferring such huge amounts to the given concern ITA No. 438/CH D / 2 0 2 2 Assessment Year : 2 0 1 7- 1

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)

iii) such income has been made the subject of excessive relief under this Act; or (iv) excessive loss or 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

BALBIR KUMAR HUF,CHANDIGARH vs. ITO , CHANDIGARH

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

Section 16 or Section 17 of the Act. We, therefore, hold that the statutory interest paid under Section 34 of the Act is interest paid for the delayed payment of the compensation amount and, therefore, is a revenue receipt liable to tax under the Income Tax Act." 9. This position of law has been consistently reiterated by this Court

SH. AMARDEEP SINGH ATHWAL,YAMUNANAGAR vs. ITO, WARD-1, YAMUNANAGAR

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

Section 16 or Section 17 of the Act. We, therefore, hold that the statutory interest paid under Section 34 of the Act is interest paid for the delayed payment of the compensation amount and, therefore, is a revenue receipt liable to tax under the Income Tax Act." 9. This position of law has been consistently reiterated by this Court

PAWAN KUMAR,FATEHABAD vs. INCOME TAX OFFICER WARD-1, FATEHABAD

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

Section 16 or Section 17 of the Act. We, therefore, hold that the statutory interest paid under Section 34 of the Act is interest paid for the delayed payment of the compensation amount and, therefore, is a revenue receipt liable to tax under the Income Tax Act." 9. This position of law has been consistently reiterated by this Court

SAROJ CHAUDHARY BALA,PANCHKULA vs. ITO, WARD-4, PANCHKULA

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

Section 16 or Section 17 of the Act. We, therefore, hold that the statutory interest paid under Section 34 of the Act is interest paid for the delayed payment of the compensation amount and, therefore, is a revenue receipt liable to tax under the Income Tax Act." 9. This position of law has been consistently reiterated by this Court

SH. AMARDEEP SINGH ATHWAL,YAMUNANAGAR vs. ITO, WARD-1, YAMUNANAGAR

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

Section 16 or Section 17 of the Act. We, therefore, hold that the statutory interest paid under Section 34 of the Act is interest paid for the delayed payment of the compensation amount and, therefore, is a revenue receipt liable to tax under the Income Tax Act." 9. This position of law has been consistently reiterated by this Court