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

In the result appeal of the assessee is allowed

Depreciation As per I.T. Tax 2082820 6546393 5. It is submitted that the assessee has led complete evidence to support each and every items of the aforesaid revised profit and loss account and revised computation of income which shows a loss of Rs.65,46,393/-. It is submitted that if there is a loss of Rs.65,46,393/- which

M/S SABER PAPER LIMITED,LUDHIANA vs. DCIT, LUDHIANA

In the result, both the appeals of the assessee and the appeal of the

Bench: Shri Sanjay Garg & Ms. Annapurna Guptaआयकरअपीलसं./Ita Nos.663 & 664/Chd/2017 "नधा"रणवष" / Assessment Years :2012-13 & 2013-14

set off business losses with the surrendered/ disclosed business income of Rs. 9,10,00,000/-. 3. That the learned Commissioner of Income Tax (Appeals)-5, Ludhiana failed to appreciate the facts and erred in confirming addition made by learned Assessing Officer of Rs. 63,16,429/- on account of disallowance of depreciation

DEPUTY COMMISSIONER OF INCOME TAX, CHANDIGARH vs. WINSOME TEXTILE INDUSTRIES LTD, CHANDIGARH

set off of the income so assessed against the brought forward losses/\nunabsorbed depreciation and as against the returned income

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)

set off of the income so assessed against the brought forward losses/ unabsorbed depreciation and as against the returned income

DCIT, CENTRAL CIRCLE II, CHANDIGARH vs. M/S SAB INDUSTRIES LIMITED, CHANDIGARH

In the result, the appeal of the assessee is allowed

Bench: Smt. Diva Singh & Ms. Annapurna Gupta

set off of business losses and depreciation losses may be allowed against the surrendered income of Rs.1,21,85,000/- being

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

Loss account and further treated the assets leased (set top boxes) as fixed assets. However, for the purpose of computation of income as per the provisions of the Income Tax Act, the principal component of the lease rentals amounting to Rs.58,87,16,983/- was also claimed as deduction along with interest component. On being asked to explain in this

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

Loss account and further treated the assets leased (set top boxes) as fixed assets. However, for the purpose of computation of income as per the provisions of the Income Tax Act, the principal component of the lease rentals amounting to Rs.58,87,16,983/- was also claimed as deduction along with interest component. On being asked to explain in this

M/S FASTWAY TRANSMISSION (P) LTD.,CHANDIGARH vs. ACIT, 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

Loss account and further treated the assets leased (set top boxes) as fixed assets. However, for the purpose of computation of income as per the provisions of the Income Tax Act, the principal component of the lease rentals amounting to Rs.58,87,16,983/- was also claimed as deduction along with interest component. On being asked to explain in this

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, LUDHIANA, LUDHIANA vs. GPG CATTLE FEED PVT. LTD., MOGA

In the result, the Revenue appeal is partly allowed and the Cross Objection of\nthe assessee is dismissed

set off against the business\nloss / depreciation loss and since the no satisfactory explanation has been\ngiven by the assessee

SH. GURINDER MAKKAR,LUDHIANA vs. DCIT, CC-3, LUDHIANA

In the result, the appeal of the assessee is disposed off in light of aforesaid directions

Bench: SHRI. AAKASH DEEP JAIN (Vice President), SHRI. VIKRAM SINGH YADAV (Accountant Member)

depreciation of such building would result in double taxation. 6.9 It was submitted that as the assessee has duly paid tax on all such amount of surrender made by the assessee, therefore, making additions of the same amount to the total income of the assessee are wholly invalid as it results 'double taxation and therefore, against the principles of natural

SHIVA SPECIALITY YARNS LTD.,LUDHIANA vs. THE DY. COMMISSIONER OF INCOME TAX, CIRCLE-I, LUDHIANA

Appeal of the assessee is allowed for

Bench: Shri Rajpal Yadav & Shri Vikram Singh Yadav

set off losses) Section 80 of the Income Tax Act, 1961 concerned with carry forward of losses. They are not concerned with determination of income or loss for the year. The Assessing Officer in his overzealousness wrongly, illegally and without any basis ignored and disallowed the business loss out of the total loss claimed in the return of A.Y.2018-19

SANJEEV KUMAR GOYAL,FATEHABAD vs. DCIT, CC-2, LUDHIANA

In the result, the appeal of the assesse is allowed

Bench: This Hon’Ble Tribunal Under Section 253 Of The Income Tax Act, 1961 As Amended From Time To Time. 2. The Assessee Is Aggrieved By The Order Of The Ld. Cit(A) Dt. 20/01/2023 In Appeal No. 10853/2018-19/It/Cit(A)-5/Ldh/2021-22 For The A.Y. 2019-20 Under Section 250(6) Of The Income Tax Act, 1961 Which Was Dismissed. Therefore The Present Second Appeal Under Section 253 Of The Income Tax Act, 1961 Before Us Against The Aforesaid Order Dt. 20/01/2023 Which Is Hereinafter Referred To As The Impugned Order.

set off or carry forward of losses. Chapter has been placed after Chapter IV and V, It comes into play only after the computation of total income under the various heads of income in terms of in terms of Chapter IV has been done. Income falling under Chapter VI is taxed by aggregating the same with the income quantified

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 (Disallowed) Rs. 42,75,000/- Assessed Income: Rs. 74,29,889/- Less BF Losses: A.Y. Amount of brought Amount of dep. Set

PUNJAB CHEMICALS & CROP PROTECTION LTD.,MOHALI vs. THE ADDITIONAL COMMISSIONER OF INCOME TAX, RANGE 1, CHANDIGARH

The appeal stands partly allowed

Bench: Hon’Ble Shri Laliet Kumar, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am आयकरअपीलसं./ Ita No. 316/Chandi/2022 (िनधा"रणवष" / Assessment Year: 2017-18) Punjab Chemicals & Crop Protection Ltd. Addl. Cit बनाम/ Milestone-18, Ambala-Kalka Road, Range-1 Vpo Bhankharpur, Derabassi Chandigarh Vs. District Sas Nagar Mohali-140201 "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaacp-9904-H (अपीलाथ"/Appellant) : (""थ" / Respondent) अपीलाथ"कीओरसे/ Appellant By : Sh. Anil Khanna (Ca). – Ld. Ar ""थ"कीओरसे/Respondent By : Ms. Tarundeep Kaur (Cit) – Ld. Dr सुनवाईकीतारीख/Date Of Hearing : 24-06-2025 घोषणाकीतारीख /Date Of Pronouncement : 01-07-2025 आदेश / O R D E R

Set-off of brought forward losses. These grounds are adjudicated as under. 2. Disallowance of interest u/s 36(1)(iii) In view of the fact that the assessee paid interest on unsecured loans and the assessee had Capital Work-in-progress (CWIP), Ld. AO proceeded to compute interest disallowance u/s 36(1)(iii). The opening CWIP was Rs.232 Lacs whereas

DHANOA ENTERPRISES PRIVATE LIMITED,SIRHIND vs. INCOME TAX OFFICER, , SIRHIND

The appeal stand partly allowed

Bench: SHRI LALIET KUMAR (Judicial Member), SHRI MANOJ KUMAR AGGARWAL (Accountant Member)

depreciation and interest expenses as claimed by the assessee were disallowed and the income was determined at Rs.26.71 Lacs. The matter reached up-to Tribunal vide ITA No.290/Chd/2019 wherein the matter was restored back to Ld. CIT(A). The Ld. CIT(A) passed an order on 28-03-2024 which is in further appeal before us. 3. During second round

SAEL LIMITED,FARIDKOT ROAD GURUHARSAHAI vs. DCIT, CC-1, LUDHIANA

In the result, the appeal filed by the assessee is allowed for statistical purposes

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

set-off of brought-forward losses and unabsorbed depreciation. Consequently, the total income of the assessee was assessed at Rs. 5,75,53,800. 4. Aggrieved

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)

loss or 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

PUNJAB BEVERAGES PVT. LTD.,PATIALA vs. DCIT, CIRCLE, PATIALA

Bench: Shri Sanjay Garg & Smt.Annapurna Guptaआयकर अपील सं./ Ita No.438/Chd/2018 "नधा"रण वष" / Assessment Year : 2001-02

set off of unabsorbed depreciation pertaining to the block period 1997-98 to 2001-02. The CIT(A) has noted that the assessee had filed all necessary documents before him for verifying these claims by way of Profit & Loss