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

87,16,983/- has been contested vide ground Nos. 3 to 5 which has been discussed in the subsequent paras of this order. In view of this, the issue raised vide ground No.2 of the appeal is accordingly restored to the file of the Assessing Officer in the terms as indicated above. 11. Grounds No 3, 4 & 5 : Ground Nos.3

HINDUSTAN UNILEVER LTD( AS LEGAL SUCCESSOR OF GLAXO SMITHKLINE CONSUMER HEALTHCARE LTD),GURGAON vs. DCIT-CIRCLE-1(1), CHANDIGARH

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

87,92,52,931 in the appeal effect order itself. 2.1 That the CIT(A) erred on facts and in law in not appreciating that the assessing officer failed to allow depreciation of Rs.29,84,892 under section

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1), CHANDIGARH, CHANDIGARH vs. UNIPRO TECHNO INFRASTRUCTURE PVT LTD, CHANDIGARH

In the result, the order of the ld CIT(A) is confirmed and the grounds of appeal taken by the Revenue are dismissed

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

87,50,940/- after claiming deduction under section 80IA of Rs. 7,47,55,843/-. The matter was selected for scrutiny and notice under section 143(2) and 142(1) were issued and after calling for necessary information, documentation from the assessee, the assessment proceedings were completed and order under section 143(3) dt. 13/12/2018 was passed

DCIT-CC-III, LUDHIANA vs. M/S LAXMI ENERGY & FOODS LTD.,, CHANDIGARH

In the result, the appeal of the Revenue is dismissed

Bench: Shri A.D. Jain & Dr Krinwant Sahayआयकर अपील सं./ Ita No. 33/Chd/2021 "नधा"रण वष" / Assessment Year: 2011-12 The Dcit, Vs. M/S Laxmi Energy & Foods बनाम Ltd., Central Circle-Iii, Sco 18-19, Sector 9-D, Ludhiana Ludhiana "थायी लेखा सं./Pan No: Aaacl3147J अपीलाथ"/ Appellant ""यथ"/ Repsondent ( Hybrid Mode ) "नधा"रती क" ओर से/Assessee By : Sh. Sudhir Sehgal, Advocate राज"व क" ओर से/ Revenue By : Shri Rohit Sharma, Cit Dr सुनवाई क" तार"ख/Date Of Hearing : 06.06.2024 उदघोषणा क" तार"ख/Date Of Pronouncement : 10.07.2024 आदेश/Order Per Dr. Krinwant Sahay, A.M.:

87 of the order of the Hon'ble ITAT). On such basis it was argued by the learned AR that there was no merit in the disallowance of depreciation made by the AO for the year under consideration.] 6.2 On going through the facts of the case and material on record it is observed from "the order

SAHIBZADA TIMBER AND PLY PRIVATE LIMITED ,MOHALI vs. DCIT, ACIT CENTRAL CIRCLE-2, CHANDIGARH, CHANDIGARH

In the result, the appeal of the assessee is dismissed

Bench: SHRI. VIKRAM SINGH YADAV, AM आयकर अपील सं./ ITA No. 699/Chd/2024 निर्धारण वर्ष / Assessment Year : 2019-20 M/s Sahibzada Timber & Ply Private Limited B41-42, Phase-3, Indl. Aera, SAS Nagar Mohali, Punjab बनाम The DCIT Central Circle-2 Chandigarh स्थायी लेखा सं./PAN NO: AAQCS2239G अपीलार्थी/Appellant प्रत्यर्थी/Respondent निर्धारिती की ओर से/Assessee by : Shri Mohit Dhiman, C.A राजस्व की ओर से/ Revenue by : Dr. Ranjeet Kaur, Sr. DR Shri Dharam Vir, Addl. CIT, Sr.DR सुनवाई की तारीख/Date of He

87 taxmann.com 84 (Gujarat) wherein it was held as under: “4. Section 50C of the Act provides for special provision for full value of consideration in certain cases. Sub-section (1) of section 50C provides for the adoption of the value taken by the Stamp Valuation Authority for the purpose of stamp duty as the full value of consideration

DCIT, CHANDIGARH vs. CHANDIGARH HOUSING BOARD, CHANDIGARH

In the result, the appeal of the Revenue is dismissed

Depreciation. A.Y. 2012-13 Page 8 of 18 5. CIT Vs Gold Coin Health Food (P.) Ltd (172 Taxman 386 (SC)/[2008] 304 ITR 308 (SC)/[2008] 218 CTR 359)where Hon'ble Delhi Supreme Court held that amendment made in Explanation 4 to section 271(1)(c)(iii) with effect from 1-4-2003 is clarificatory and, therefore, will

VISHAL PAPER TECH (INDIA) LTD.,MUBARKPUR vs. ACIT, C-2(1), CHANDIGARH

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

Bench: He Finalization Of Appellate Proceedings. 4. Facts Of The Case In Brief Are That The Assessee Filed Its Return Of Income On 30/09/2015 Declaring An Income Of Rs. 1,27,05,760/-. Later On The Case Was Selected For Scrutiny. The A.O. Framed The Assessment At An Income Of Rs. 2,14,12,959/- By Making The Addition Of Rs. 87,07,199/- Which Was Made By Denying The Additional Depreciation Claimed By The Assessee.

depreciation amounting to Rs. 8707199/- while the assessee fulfills all the conditions prescribed under section 32(1)(iia) of the Act. 2. that the Ld. CIT(Appeals) has erred in law in not allowing the MAT credit under section 115JAA of Income Tax Act 1961 when there is credit of Rs. 16574724/-lying in the account. 3. The assessee craves

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

87,000/- from Directors of Industries & Commerce, Punjab which was sanctioned by the Punjab Government in May, 2008. However, the assessee instead of reducing the subsidy amount from the fixed assets, placed this amount as capital reserve. Non reduction of fixed assets has resulted in excess claim of depreciation in assets amounting to Rs.4,03,000/-. In the replies dated

M/S RAGHU NATH RAI MEMORIAL EDUATIONAL & CHARITABLE TRUST,MOHALI vs. CIT (EXEMPTION), CHANDIGARH

In the result, the appeal of the assessee is, therefore,

Bench: Ms.Diva Singh & Ms.Annapurna Gupta(Under Section (5)(Vi) Of The Act) Raghu Nath Rai Memorial Vs. The Cit(Exemption), Educational & Charitable Trust, Chandigarh. H.No.2350, Sector 71, Mohali. Pan: Aaatr6500J (Appellant) (Respondent)

section. The assessee society was registered under the Societies Registration Act XXI on 29.9.2003 and was also registered u/s 12AA of the Act vide CIT-II, Chandigarh’s order dated 19.5.2004 and had also been granted approval u/s 10(23C(vi) of the Act vide order dated 21.8.2007. 3. During the course of hearing before the Ld.CIT

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 11 of the Income Tax Act, 1961. 8. The assessee society claimed capital expenditure of Rs. 6,61,52,498/- on account of construction of building. 9. The assessee society was called upon to justify and substantiate the aforesaid capital expenditure as claimed by them in the computation sheet with the documentary evidence in support thereof. 10. During

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 11 of the Income Tax Act, 1961. 8. The assessee society claimed capital expenditure of Rs. 6,61,52,498/- on account of construction of building. 9. The assessee society was called upon to justify and substantiate the aforesaid capital expenditure as claimed by them in the computation sheet with the documentary evidence in support thereof. 10. During

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

depreciation. Cost of acquisition is inclusive of freight, duties, taxes and other incidental expenses and interest on loan taken for the acquisition of qualifying assets up to the date of commissioning of assets. As per accounting policy being followed year after year, the assessee company has already capitalised sum amounting to Rs. 87,26,813/- representing the amount shown under

BHAGWATI STEEL PROCESSORS,CHANDIGARH vs. PCIT, CHANDIGARH

In the result, the appeal of the Assessee is allowed

Section 263 was issued on 22.01.2025, and the\nassessee submitted its detailed reply on 10.02.2025 along with all supporting\ndocuments and reconciliations.\n4.2 The Ld. Pr. CIT had called for the comments of the assessee / reply of the\nassesse on the above noted points and thereafter had passed the impugned order\ndirecting the Assessing Officer to pass denovo assessment order

DCIT, C-1, (E), CHANDIGARH vs. M/S MANAV MANGAL SOCIETY, CHANDIGARH

In the result, all the appeals of the assessee are allowed and all the appeals of the department are dismissed

87,41,386/- % of total receipts 6.86% 5.93% 7.0% 6.5% On perusal of the above chart, it is clear that members of the society are earning income from the society only and then invested the same for their personal capital and provide the unsecured loans to the society then get the interest income against the investments and then again invested

DCIT, C-1, (E), CHANDIGARH vs. M/S MANAV MANGAL SOCIETY, CHANDIGARH

In the result, all the appeals of the assessee are allowed and all the appeals of the department are dismissed

87,41,386/- % of total receipts 6.86% 5.93% 7.0% 6.5% On perusal of the above chart, it is clear that members of the society are earning income from the society only and then invested the same for their personal capital and provide the unsecured loans to the society then get the interest income against the investments and then again invested

M/S MANAV MANGAL SOCIETY,CHANDIGARH vs. DCIT, C-1, (E), CHANDIGARH

In the result, all the appeals of the assessee are allowed and all the appeals of the department are dismissed

87,41,386/- % of total receipts 6.86% 5.93% 7.0% 6.5% On perusal of the above chart, it is clear that members of the society are earning income from the society only and then invested the same for their personal capital and provide the unsecured loans to the society then get the interest income against the investments and then again invested

M/S MANAV MANGAL SOCIETY,CHANDIGARH vs. DCIT, C-1, (E), CHANDIGARH

In the result, all the appeals of the assessee are allowed and all the appeals of the department are dismissed

87,41,386/- % of total receipts 6.86% 5.93% 7.0% 6.5% On perusal of the above chart, it is clear that members of the society are earning income from the society only and then invested the same for their personal capital and provide the unsecured loans to the society then get the interest income against the investments and then again invested

DCIT, C-1, (E), CHANDIGARH vs. M/S MANAV MANGAL SOCIETY, CHANDIGARH

In the result, all the appeals of the assessee are allowed and all the appeals of the department are dismissed

87,41,386/- % of total receipts 6.86% 5.93% 7.0% 6.5% On perusal of the above chart, it is clear that members of the society are earning income from the society only and then invested the same for their personal capital and provide the unsecured loans to the society then get the interest income against the investments and then again invested