SANJEEV BATISH,PANCHKULA vs. DCIT, CIRCLE, PANCHKULA

Appeal of the assessee is allowed

Section 80-IC and it reads as under: "(ix) “Substantial expansion” means increase in the investment in the plant and machinery by at least fifty per cent of the book value of plant and machinery (before taking depreciation

ACIT, C-3(1), CHANDIGARH vs. SH. VIJAY KUMAR BATRA, CHANDIGARH

In the result, the appeal of the Revenue is dismissed

Bench: The Ld.Cit(A).

Section 80-IC was enacted, an irresistible conclusion would be to grant 100% deduction of the profits and gains even from the year when there is substantial expansion in the existing unit. After all, this substantial expansion involves great deal of investment which has to be, at least 50% in the plant and machinery, of the book value thereof before

ACIT, C-2(1), CHANDIGARH vs. M/S MICRO TURNERS, CHANDIGARH

In the result, the appeal of the Revenue is dismissed

Section 80-IC was enacted, an irresistible conclusion would be to grant 100% deduction of the profits and gains even from the year when there is substantial expansion in the existing unit. After all, this substantial expansion involves great deal of investment which has to be, at least 50% in the plant and machinery, of the book value thereof before

DCIT, C-1(1), CHANDIGARH vs. M/S BNAL PREFABS (P) LTD., CHANDIGARH

In the result, the appeal of the Revenue is dismisse d

Bench: Shri N.K. Saini, Vice Rpesident & Shri Sanjay Gargआयकर अपील सं./ Ita No.1268/Chd/2018 "नधा"रण वष" / Assessment Year : 2011-12

Section 80-IC was enacted, an irresistible conclusion would be to grant 100% deduction of the profits and gains even from the year when there is substantial expansion in the existing unit. After all, this substantial expansion involves great deal of investment which has to be, at least 50% in the plant and machinery, of the book value thereof before

SHELLY BANSAL ,CHANDIGARH vs. ACIT, C-5(1), CHANDIGARH

In the result, appeal of the Assessee is allowed

Section 80-IC was enacted, an irresistible conclusion would be to grant 100% deduction of the profits and gains even from the year when there is substantial expansion in the existing unit. After all, this substantial expansion involves great deal of investment which has to be, at least 50% in the plant and machinery, of the book value thereof before

ACIT, C-3(1), CHANDIGARH vs. M/S ARION HEALTHCARE, MANIMAJRA

In the result, the appeals of the Revenue are dismissed

Bench: Shri N.K. Saini & Shri Sanjay Garg

Section 80-IC was enacted, an irresistible conclusion would be to grant 100% deduction of the profits and gains even from the year when there is substantial expansion in the existing unit. After all, this substantial expansion involves great deal of investment which has to be, at least 50% in the plant and machinery, of the book value thereof before

ACIT, C-5(1), CHANDIGARH vs. PARVINDER SINGH SAHNI, CHANDIGARH

In the result, the appeals of the Revenue are dismissed

Bench: Shri N.K. Saini & Shri Sanjay Garg

Section 80-IC was enacted, an irresistible conclusion would be to grant 100% deduction of the profits and gains even from the year when there is substantial expansion in the existing unit. After all, this substantial expansion involves great deal of investment which has to be, at least 50% in the plant and machinery, of the book value thereof before

ACIT, C-5(1), CHANDIGARH vs. PARVINDER SINGH SAHNI, CHANDIGARH

In the result, the appeals of the Revenue are dismissed

Bench: Shri N.K. Saini & Shri Sanjay Garg

Section 80-IC was enacted, an irresistible conclusion would be to grant 100% deduction of the profits and gains even from the year when there is substantial expansion in the existing unit. After all, this substantial expansion involves great deal of investment which has to be, at least 50% in the plant and machinery, of the book value thereof before

ACIT, C-5(1), CHANDIGARH vs. PARVINDER SINGH SAHNI, CHANDIGARH

In the result, the appeals of the Revenue are dismissed

Bench: Shri N.K. Saini & Shri Sanjay Garg

Section 80-IC was enacted, an irresistible conclusion would be to grant 100% deduction of the profits and gains even from the year when there is substantial expansion in the existing unit. After all, this substantial expansion involves great deal of investment which has to be, at least 50% in the plant and machinery, of the book value thereof before

DCIT, CIRCLE , SHIMLA vs. M/S IDEAL STRIPS, NAHAN

In the result, the appeal of the Revenue is dismissed

Bench: Shri N.K. Saini & Shri Sanjay Gargआयकरअपीलसं./Ita No.681/Chd/2018 "नधा"रणवष" / Assessment Year :2014-15 The Dcit, Vs. M/S Ideal Strips, Circle, Village Moginand, बनाम Parwanoo. Nahan Road, Kala Amb, Sirmour, H.P. 173030 "थायीलेखासं./Pan No:Agopk7450N अपीलाथ"/Appellant ""यथ"/Respondent

Section 80-IC was enacted, an irresistible conclusion would be to grant 100% deduction of the profits and gains even from the year when there is substantial expansion in the existing unit. After all, this substantial expansion involves great deal of investment which has to be, at least 50% in the plant and machinery, of the book value thereof before

ACIT, CHANDIGARH vs. SHRI SUBHASH CHAND, CHANDIGARH

In the result, the appeal of the assessee stands allowed

Bench: Shri Sanjay Garg & Dr. B.R.R. Kumarआयकर अपील सं./ Ita No. 860/Chd/2018 "नधा"रण वष" / Assessment Year : 2014-15 Shri Subhash Chand The Acit, बनाम Circle 5(1), Scf 12, Sector 26, Chandigarh Chandigarh "थायी लेखा सं./Pan No: Abupc8069N अपीलाथ"/Appellant ""यथ"/Respondent

Section 80-IC was enacted, an irresistible conclusion would be to grant 100% deduction of the profits and gains even from the year when there is substantial expansion in the existing unit. After all, this substantial expansion involves great deal of investment which has to be, at least 50% in the plant and machinery, of the book value thereof before

M/S MICRO TURNERS,CHANDIGARH vs. ACIT, CHANDIGARH

In the result, the appeal of the assessee is treated as partly allowed

Bench: Shri N.K. Saini & Shrisanjay Gargआयकरअपीलसं./Ita No. 445/Chd/2017 "नधा"रणवष" / Assessment Year : 2013-14

Section 80-IC was enacted, an irresistible conclusion would be to grant 100% deduction of the profits and gains even from the year when there is substantial expansion in the existing unit. After all, this substantial expansion involves great deal of investment which has to be, at least 50% in the plant and machinery, of the book value thereof before

M/S VARDHMAN INDUSTRIES,SOLAN vs. INCOME TAC OFFICER, BADDI

In the result, both the appeals of the assessee are partly allowed

Bench: Shri Sanjay Garg & Ms. Annapurna Gupta

Section 80-IC was enacted, an irresistible conclusion would be to grant 100% deduction of the profits and gains even from the year when there is substantial expansion in the existing unit. After all, this substantial expansion involves great deal of investment which has to be, at least 50% in the plant and machinery, of the book value thereof before

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)

Depreciation calculated as Income Tax Act from Book Profit calculated in the Profit and Loss of Power Division. " Moreover, as per section 80

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)

Depreciation calculated as Income Tax Act from Book Profit calculated in the Profit and Loss of Power Division. " Moreover, as per section 80

ACIT, LUDHIANA vs. M/S VARDHMAN TEXTILES LTD., LUDHIANA

In the result appeals of the Assessee and the Revenue are partly allowed

Bench: Smt. Diva Singh & Dr. B.R.R. Kumarassessment Year: 2002-03

section 10-B and 80-IB. 4. That the Ld. CIT (A) has erred in law and on the facts while reducing deduction u/s 80HHC : - (a) That the Ld. CIT (A) has erred in law and on the facts in excluding 100% of Export Turnover of export oriented units from Export Turnover of the assessee while calculating the deduction

ACIT, LUDHIANA vs. VARDHMAN TEXTILES LTD., LUDHIANA

In the result appeals of the Assessee and the Revenue are partly allowed

Bench: Smt. Diva Singh & Dr. B.R.R. Kumarassessment Year: 2002-03

section 10-B and 80-IB. 4. That the Ld. CIT (A) has erred in law and on the facts while reducing deduction u/s 80HHC : - (a) That the Ld. CIT (A) has erred in law and on the facts in excluding 100% of Export Turnover of export oriented units from Export Turnover of the assessee while calculating the deduction

ACIT,, LUDHIANA vs. M/S VARDHMAN TEXTILES LTD.,, LUDHIANA

In the result appeals of the Assessee and the Revenue are partly allowed

Bench: Smt. Diva Singh & Dr. B.R.R. Kumarassessment Year: 2002-03

section 10-B and 80-IB. 4. That the Ld. CIT (A) has erred in law and on the facts while reducing deduction u/s 80HHC : - (a) That the Ld. CIT (A) has erred in law and on the facts in excluding 100% of Export Turnover of export oriented units from Export Turnover of the assessee while calculating the deduction

M/S VARDHMAN TEXTILES LTD.,LUDHIANA vs. ACIT, LUDHIANA

In the result appeals of the Assessee and the Revenue are partly allowed

Bench: Smt. Diva Singh & Dr. B.R.R. Kumarassessment Year: 2002-03

section 10-B and 80-IB. 4. That the Ld. CIT (A) has erred in law and on the facts while reducing deduction u/s 80HHC : - (a) That the Ld. CIT (A) has erred in law and on the facts in excluding 100% of Export Turnover of export oriented units from Export Turnover of the assessee while calculating the deduction