M/S FASTWAY TRANSMISSION (P) LTD.,CHANDIGARH vs. DCIT, CC-II, CHANDIGARH

In the result the captioned appeals of the assessee are

Bench: Shri N.K. Saini & Shri Sanjay Gargआयकर अपील सं./ Ita No.547/Chd/2017 "नधा"रण वष" / Assessment Year : 2013-14

depreciation rate of 60 % should not be allowed to assessee. 5. Further various submissions made by the assessee during the assessment proceedings are analyzed as under: • However, first of all it is observed that the order of Hon'ble ITAT in the case of CISCO System(India) Pvt. Limited is related to the Audit Video Conferencing devices and depreciation

SMT. ASHA GANDHI,LUDHIANA vs. ITO, W-II(1), LUDHIANA

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

Section 274 of the I.T.Act, 1961 are initiated separately.” 3. The assessee carried the issue in appeal before the CIT(A) and relied upon further supporting evidences to justify the claims made on the basis of the audited books of account. Though the CIT(A) remanded the evidences to the AO, however, ultimately the additions made by the AO were

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. In the result, this ground is dismissed.” 28.28 We gainfully refer to and rely upon the judgment of Hon’ble Kerala High Court in case of M/s K Infra Export Promotion Vs. The JCIT dt. 07/04/2022 in ITA No. 65 of 2018 on Indian Kanoon online wherein on para 16.1 it is held as under: “16.1 In VKC Footsteps

M/S SUPERFINE KNITTERS LTD.,LUDHIANA vs. ACIT, LUDHIANA

Bench: Shri Sanjay Garg & Smt. Annapurna Guptaassessment Year: 2009-10 M/S Superfine Knitters Ltd., Vs. The Acit, 269, Industrial Area-A, Circle-7, Ludhiana. Ludhiana. Pan No. Aadcs4217P

65,000/- (5,50,000-3,85,000/-).Further, depreciation @ 15% has been charged at Tubewell which was allowable @ 10%. This has resulted into excess depreciation of Rs. 86,885/- (260656-173771). Thus, excess claim of depreciation has resulted into under assessment of income by Rs. 2,51,885/- with tax effect of Rs. 85,616/- plus interest u/s 234B

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

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)

65,94,005/-). In addition, the AO also treated the GDR receipt of Rs. 6,45,00,000/-being share capital and Rs. 38,30,88,075/- being security premium totaling to Rs. 44,75,88,075/- as income from undisclosed sources and which was brought to tax by invoking the provisions of Section

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)

65,85,400/- after making the disallowance of bad debts written off during the year. The order of Ld. AO bears No. ITBA/AST/S/147/2021-22/10359/30321(1) and is dated 27/09/2021. 8. That the assessee challenged the validity of the reassessment proceedings and the disallowance made by the AO in the aforesaid reassessment order dt. 27/09/2021 passed under section

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

65,94,302 Total Taxable income 5,23,74,106 ITA Nos. 797 & 798/CHD/2024 A.Y.2014-15 & 2015-16 4 Assessment year 2015-16 Particular Amount (In INR) Returned Income Nil Disallowance of Honorarium (Rs. 30,61,129/-) 1,07,39,814 and travelling and conveyance expense along with cost of vehicles (Rs. 76,78,685/-) Disallowance of Interest on Advances

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

65,94,302 Total Taxable income 5,23,74,106 ITA Nos. 797 & 798/CHD/2024 A.Y.2014-15 & 2015-16 4 Assessment year 2015-16 Particular Amount (In INR) Returned Income Nil Disallowance of Honorarium (Rs. 30,61,129/-) 1,07,39,814 and travelling and conveyance expense along with cost of vehicles (Rs. 76,78,685/-) Disallowance of Interest on Advances

M/S SHUBHAM COTTON MILLS PVT. LTD.,ELLENABAD vs. DCIT, CIRCLE, SIRSA

In the result appeal of the assessee is allowed

65,662.00 1855.65 iii) Sale of Guar churi from 18.11.2014 to 31.03.2015 Period Amount Sr. Weight (in Average qtls) No. Rate i) 5240.15 5542361.00 1057.67 18.11.2014 to 30.11.2014 ii) 11769.28 13347725.00 1134.12 01.12.2014 to 31.12.2014 i") 9676.93 14066820.00 1453.64 01.01.2015 to 31.01.2015 iv) 10332.70 16460884.00 1593.09 01.02.2015 to 28.02.2015 v) 11894.87 21202569.00 1782.50 01.03.2015 to 31.03.2015 Total

THE PUNJAB STATE COOPERATIVE MILK PRODUCERS FEDERATION LTD.,CHANDIGARH vs. INCOME TAX OFFICER, FATIONAL E-ASSESSMENT CENTRE, DELHI, DELHI

In the result, ground no. 2 of assessee’s appeal in ITA No

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

65,177/- by invoking the provisions of section 14A r.w.r.8D in respect of interest income received by the assessee from other co-operative societies which is wholly deductible u/s 80P(2)(d) of the Act particularly considering the decision of the Hon'ble Delhi High Court in the case of CIT Vs. Kribhco (2012) 349 ITR 618 (Delhi) wherein

THE PUNJAB STATE COOPERATIVE MILK PRODUCERS FEDERATION LTD.,CHANDIGARH vs. DCIT, CIRCLE-4(1), CHANDIGARH, CHANDIGARH

In the result, ground no. 2 of assessee’s appeal in ITA No

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

65,177/- by invoking the provisions of section 14A r.w.r.8D in respect of interest income received by the assessee from other co-operative societies which is wholly deductible u/s 80P(2)(d) of the Act particularly considering the decision of the Hon'ble Delhi High Court in the case of CIT Vs. Kribhco (2012) 349 ITR 618 (Delhi) wherein

THE PUNJAB STATE COOPERATIVE MILK PRODUCERS FEDERATION LTD.,CHANDIGARH vs. ACIT, CIRCLE-4(1), CHANDIGARH, CHANDIGARH

In the result, ground no. 2 of assessee’s appeal in ITA No

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

65,177/- by invoking the provisions of section 14A r.w.r.8D in respect of interest income received by the assessee from other co-operative societies which is wholly deductible u/s 80P(2)(d) of the Act particularly considering the decision of the Hon'ble Delhi High Court in the case of CIT Vs. Kribhco (2012) 349 ITR 618 (Delhi) wherein

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)

65 to 69 were not considered by the AO and no specific disposal to the various objections as raised by the assessee have been disposed off by way of speaking order which is completely bad in law on the basis of judgement of Bombay HighcourtM/s. Browntape Technologies Pvt Ltd vs. ACIT in Writ petition No. 627 of 2022 wherein assessee

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)

65(Chandigarh-Trib) Where Assessing Officer allowed 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

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)

depreciation, interest and salary to the partners after due verification. Further, he directed to treat the surrendered income at Rs. 60,00,000/- as against Rs. 65,00,000/- considered by the AO under section

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

section 56, a deduction of a sum equal to fifty per cent. of such\nincome and no deduction shall be allowed under any other clause of this\nsection.\"\n21. The Assessing Officer in I. T. A. No. 132 of 2018 where the assessee had\nreceived Rs.11,30,561 as interest income, held that the interest payment\nreceived on compensation/enhanced compensation

M/S CHANDIGARH BOTTLING CO.,CHANDIGARH vs. ACIT, CHANDIGARH

In the result, appeals of the assessee are allowed

Bench: Ms. Diva Singh & Dr.B.R.R.Kumar & Assessment Year: 2006-07

depreciation schedule furnished with the return, the assessee during the relevant previous year has transferred commercial land of Rs. 4,93,710/- and building of Rs. 1,65,400/- to the personal Account of Sh. Jaspal Singh 5.1 Attention was invited to reply dated 07.07.2008 extracted in the assessment order. For ready reference the relevant reply is also extracted hereunder