ASSTT.COMMISSIONER OF INCOME TAX, LUDHIANA vs. M/S MRS.BECTORS FOOD SPECILTIES LTD, LUDHIANA

Bench: Smt. Diva Singh & Dr. B.R.R. Kumar

10% of the profits amounting to Rs.16,16,332/- . The ground of appeal No.4 raised by the Revenue is, therefore, dismissed. 6.4 As the matter stands adjudicated, following the ratio laid down which is squarely applicable to the appeals before us, the grounds raised by the Revenue on this issue are hereby dismissed. 7. Issue of disallowance of Section 80IC

ASSTT.COMMISSIONER OF INCOME TAX, LUDHIANA vs. M/S MRS.BECTORS FOOD SPECILTIES LTD, LUDHIANA

Bench: Smt. Diva Singh & Dr. B.R.R. Kumar

10% of the profits amounting to Rs.16,16,332/- . The ground of appeal No.4 raised by the Revenue is, therefore, dismissed. 6.4 As the matter stands adjudicated, following the ratio laid down which is squarely applicable to the appeals before us, the grounds raised by the Revenue on this issue are hereby dismissed. 7. Issue of disallowance of Section 80IC

ASSTT.COMMISSIONER OF INCOME TAX, LUDHIANA vs. M/S MRS.BECTORS FOOD SPECILTIES LTD, LUDHIANA

Bench: Smt. Diva Singh & Dr. B.R.R. Kumar

10% of the profits amounting to Rs.16,16,332/- . The ground of appeal No.4 raised by the Revenue is, therefore, dismissed. 6.4 As the matter stands adjudicated, following the ratio laid down which is squarely applicable to the appeals before us, the grounds raised by the Revenue on this issue are hereby dismissed. 7. Issue of disallowance of Section 80IC

ACIT, LUDHIANA vs. M/S MRS. BECTORS FOOD SPECIALTIES PVT. LTD., LUDHIANA

Bench: Smt. Diva Singh & Dr. B.R.R. Kumar

10% of the profits amounting to Rs.16,16,332/- . The ground of appeal No.4 raised by the Revenue is, therefore, dismissed. 6.4 As the matter stands adjudicated, following the ratio laid down which is squarely applicable to the appeals before us, the grounds raised by the Revenue on this issue are hereby dismissed. 7. Issue of disallowance of Section 80IC

DCIT, C-V, LUDHIANA vs. M/S HERO CYCLES LTD., LUDHIANA

In the result, appeal of the Department is dismissed and the appeal of the assessee is allowed

Bench: SHRI. RAJPAL YADAV (Vice President), SHRI. KRINWANT SAHAY, AM आयकर अपील सं. / ITA No. 588/Chd/2018 निर्धारण वर्ष / Assessment Years : 2012-13 The DCIT C-V, Ludhiana बनाम M/s Hero Cycles Ltd. Hero Nagar, G.T. Road Ludhiana स्थायी लेखा सं./PAN NO: AAACH4073P अपीलार्थी/Appellant प्रत्यर्थी / Respondent आयकर अपील सं. / ITA No. 473/Chd/2018 निर्धारण वर्ष / Assessment Years : 2012-13 M/s Hero Cycles Ltd. Hero Nagar, G.T. Road Ludhiana बनाम The ACIT C-V, Ludhiana स्थायी लेखा सं./PAN NO: AAACH4073P

disallowance of Rs. 14,15,10,213/- made by the A.O. by invoking the provisions of Section 14A of the Income Tax Act, 1961. (hereinafter referred to as Act). 5. Facts of the case in brief are that the assessee filed its return of income on 20/03/2014 declaring an income of Rs. 140,32,08,590/- which was processed under

SMT. AARTI SINGAL,CHANDIGARH vs. DCIT, CC-1, CHANDIGARH

disallowance in the hands of various Group concerns. Thereafter, another search and seizure operation on 21/02/2014 was initiated by the Department at the business premises alongwith residential / business premises of the Directors and other related persons of BPSL. 6.3 The AO also observed that various new evidences in the form of soft as well as hard data including statements

SH. SANJAY SINGAL,CHANDIGARH vs. DCIT, CC-1, CHANDIGARH

disallowance in the hands of various Group concerns. Thereafter, another search and seizure operation on 21/02/2014 was initiated by the Department at the business premises alongwith residential / business premises of the Directors and other related persons of BPSL. 6.3 The AO also observed that various new evidences in the form of soft as well as hard data including statements

SMT. AARTI SINGAL,CHANDIGARH vs. DCIT, CC-1, CHANDIGARH

disallowance in the hands of various Group concerns. Thereafter, another search and seizure operation on 21/02/2014 was initiated by the Department at the business premises alongwith residential / business premises of the Directors and other related persons of BPSL. 6.3 The AO also observed that various new evidences in the form of soft as well as hard data including statements

SH. SANJAY SINGAL,CHANDIGARH vs. DCIT, CC-1, CHANDIGARH

disallowance in the hands of various Group concerns. Thereafter, another search and seizure operation on 21/02/2014 was initiated by the Department at the business premises alongwith residential / business premises of the Directors and other related persons of BPSL. 6.3 The AO also observed that various new evidences in the form of soft as well as hard data including statements

SH. SANJAY SINGAL,CHANDIGARH vs. DCIT, CC-1, CHANDIGARH

disallowance in the hands of various Group concerns. Thereafter, another search and seizure operation on 21/02/2014 was initiated by the Department at the business premises alongwith residential / business premises of the Directors and other related persons of BPSL. 6.3 The AO also observed that various new evidences in the form of soft as well as hard data including statements

SMT. AARTI SINGAL,CHANDIGARH vs. DCIT, CC-1, CHANDIGARH

disallowance in the hands of various Group concerns. Thereafter, another search and seizure operation on 21/02/2014 was initiated by the Department at the business premises alongwith residential / business premises of the Directors and other related persons of BPSL. 6.3 The AO also observed that various new evidences in the form of soft as well as hard data including statements

SHRI KRISHAN KUMAR JALAN,BANGALORE vs. ITO, W-1, SIRSA

In the result appeal of the assessee is dismissed

10(38) Bogus Capital Gains From Penny Stocks : u/s.101 of Evidence Act,\n1972, the onus is on the assessee to prove that the LTCG is genuine. The\nassessee cannot on failure to establish a prima facie case, take\nadvantage of the weakness in the AO's case. The jump in the share price\nof a company of unknown credentials cannot

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)

section 143(3) of the Act in the case of this assessee for the period relevant to A. Yr. 2016-17 was completed on 15.12.2018 by readjusting the depreciation allowable as done in the assessment year under consideration. The assessee has accepted the said assessment order and no appeal have been filed by the assessee against the said disallowance

HIMACHAL PRADESH BOARD OF SCHOOL EDUCATION,KANGRA vs. DCIT (E), C-2, CHANDIGARH

In the result, appeals of the assessee are allowed for statistical purposes

Bench: Ms. Diva Singh & Dr.B.R.R.Kumar

38,662/- for the examination purposes of all students. The balance amount of Rs. 12,75,74,764/- had been utilized for printing of text books out of which we sold the text books through depots amounting to Rs. 9,48,34,214/- and balance books has been distributed on free basis to the students belonging to other backward classes

DCIT, C-5, LUDHIANA vs. M/S HERO CYCLES LTD., LUDHIANA

In the result, appeal of the Department is dismissed and the Cross

disallowance of expenses by invoking provisions of section 14A of the Act on the ground that the assessee company had made investment in shares/mutual funds, the income from which in the form of dividend or long term capital gains is exempt from tax under section 10(38

TARUN JAIN,BATHINDA vs. DCIT, CC-1, LUDHIANA

Bench: Shri Sanjay Garg & Ms. Annapurna Guptaआयकर अपील सं./ Ita Nos. 625 & 626/Chd/2019 "नधा"रण वष" / Assessment Years : 2013-14 & 2014-15 The Dcit, Shri Tarun Jain, बनाम Central Circle-1, C/O M/S Royal Lifestyle Jewellers Chandigarh Pvt Limited, Bhatinda "थायी लेखा सं./Pan No: Ahwpj2158H Appeal Against The Order Of Cit(A)-1, Ludhiana Dated 11.3.2018 अपीलाथ"/Appellant ""यथ"/Respondent

disallowing the claim of the assessee appellant under section 10(38) of the Income Tax Act without appreciating the fact

SHRI SANJAY JAIN,BATHINDA vs. DCIT, CC-1, LUDHIANA

Bench: Shri Sanjay Garg & Ms. Annapurna Guptaआयकर अपील सं./ Ita Nos. 625 & 626/Chd/2019 "नधा"रण वष" / Assessment Years : 2013-14 & 2014-15 The Dcit, Shri Tarun Jain, बनाम Central Circle-1, C/O M/S Royal Lifestyle Jewellers Chandigarh Pvt Limited, Bhatinda "थायी लेखा सं./Pan No: Ahwpj2158H Appeal Against The Order Of Cit(A)-1, Ludhiana Dated 11.3.2018 अपीलाथ"/Appellant ""यथ"/Respondent

disallowing the claim of the assessee appellant under section 10(38) of the Income Tax Act without appreciating the fact

SHRI SANJAY JAIN,BATHINDA vs. DCIT, CC-1, LUDHIANA

Bench: Shri Sanjay Garg & Ms. Annapurna Guptaआयकर अपील सं./ Ita Nos. 625 & 626/Chd/2019 "नधा"रण वष" / Assessment Years : 2013-14 & 2014-15 The Dcit, Shri Tarun Jain, बनाम Central Circle-1, C/O M/S Royal Lifestyle Jewellers Chandigarh Pvt Limited, Bhatinda "थायी लेखा सं./Pan No: Ahwpj2158H Appeal Against The Order Of Cit(A)-1, Ludhiana Dated 11.3.2018 अपीलाथ"/Appellant ""यथ"/Respondent

disallowing the claim of the assessee appellant under section 10(38) of the Income Tax Act without appreciating the fact