THE MULLANPUR GARIBDAS CO-OP MULTIPURPOSE SOCIETY,MOHALI vs. PR. CIT-II, CHANDIGARH

Bench: SHRI A.D.JAIN (Vice President), SHRI KRINWANT SAHAY (Accountant Member)

12. These submissions of the assessee society also stand reproduced in Para 2 of the Order under appeal. 13. The PCIT has observed that the contention of the assessee is totally opposite to the plea taken during the assessment proceedings where the assessee had claimed deduction under section 80P(2)(a)(i) and not under section 80P(2)(d); that

THE MULLANPUR GARIBDAS CO-OP MULTIPURPOSE SOCIETY,MULLANPUR vs. PR. CIT-II, CHANDIGARH

Bench: SHRI A.D.JAIN (Vice President), SHRI KRINWANT SAHAY (Accountant Member)

12. These submissions of the assessee society also stand reproduced in Para 2 of the Order under appeal. 13. The PCIT has observed that the contention of the assessee is totally opposite to the plea taken during the assessment proceedings where the assessee had claimed deduction under section 80P(2)(a)(i) and not under section 80P(2)(d); that

THE MULLANPUR GARIBDAS CO-OP MULTIPURPOSE SOCIETY,MOHALI vs. DCIT, C-6(1), MOHALI

Bench: SHRI A.D.JAIN (Vice President), SHRI KRINWANT SAHAY (Accountant Member)

12. These submissions of the assessee society also stand reproduced in Para 2 of the Order under appeal. 13. The PCIT has observed that the contention of the assessee is totally opposite to the plea taken during the assessment proceedings where the assessee had claimed deduction under section 80P(2)(a)(i) and not under section 80P(2)(d); that

THE JAGADHRI CO-OPERATIVE MARKETING CUM PROCESSING SOCIETY LTD.,JAGADHRI vs. THE PR.CIT, PANCHKULA

In the result, the appeal of the assessee is allowed

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

12. It was further submitted that the case of the assessee is squarely covered by the decision of Hon’ble Jurisdictional High Court in case of CIT Vs. Doaba Co- op Sugar Mills Limited reported in 230 ITR 774 wherein it has been held that 80P(2)(d) allows whole deduction of an income by way of interest or dividend

THE JYOTI CO-OPERATIVE NON AGRICULTURAL THRIFT & CREDIT SOCIETY LTD.,SIRMOUR vs. ITO, WARD, NAHAN

In the result, the assessee is not eligible for deduction on interest on deposits placed with scheduled commercial banks under section 80(P)(2)(a)(i) of the Act and the appeal of the assessee is di...

Bench: SHRI. VIKRAM SINGH YADAV (Accountant Member)

disallowed the claim on the basis that the interest was not earned on account of providing credit facilities to the assessee's members but was earned on surplus funds kept by the assessee in banks to earn income. The CIT(A) allowed the claim on the ground that interest invested out of 11 reserve funds is to be treated

THE JYOTI CO-OPERATIVE NON AGRICULTURAL THRIFT & CREDIT SOCIETY LTD.,SIRMOUR vs. ITO, WARD, NAHAN

In the result, the assessee is not eligible for deduction on interest on deposits placed with scheduled commercial banks under section 80(P)(2)(a)(i) of the Act and the appeal of the assessee is di...

disallowed the claim on the basis that the interest was not earned on account of providing credit facilities to the assessee's members but was earned on surplus funds kept by the assessee in banks to earn income. The CIT(A) allowed the claim on the ground that interest invested out of 11 reserve funds is to be treated

THE JYOTI CO-OPERATIVE NON AGRICULTURAL THRIFT & CREDIT SOCIETY LTD.,SIRMOUR vs. ITO, WARD, NAHAN

In the result, the assessee is not eligible for deduction on interest on deposits placed with scheduled commercial banks under section 80(P)(2)(a)(i) of the Act and the appeal of the assessee is di...

Bench: SHRI. VIKRAM SINGH YADAV, AM आयकर अपील सं . / ITA No.160, 161 & 162/ Chd/2023 निर्धारण वर्ष / Assessment Year : 2017-18, 2012-13 & 2013-14 The Jyoti Co-operative Non Agricultural Thrift & Credit Society Ltd. Sirmour, Solan, HP-173025 स्थायी लेखा सं. / PAN NO: AAABT1453G अपीलार्थी/Appellant बनाम The ITO H.P Ward-Nahan, Sirmour प्रत्यर्थी/Respondent निर्धारिती की ओर से/Assessee by : Shri Vishal Mohan, Sr. Advocate with Shri Parveen Sharma, Advocate राजस्व की ओर से / Revenue by : Dr. Ranjeet K

disallowed the claim on the basis that the interest was not earned on account of providing credit facilities to the assessee's members but was earned on surplus funds kept by the assessee in banks to earn income. The CIT(A) allowed the claim on the ground that interest invested out of 11 reserve funds is to be treated

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

2 to 15 of the assessment order dt. 03/03/2015, avoiding repetition the same is not being reproduced herein. The A.O. after considering the submission of the assesse invoked the provisions of section 14A of the Act read with Rule 8D of the Income Tax Rules 1962. The A.O. worked out the disallowance under section 14A of the Act at Rs.14

HARYANA BUILDING AND OTHER CONSTRUCTION WORKERS WELFARE BOARD,PANCHKULA vs. DCIT, EXEMPTION, CHANDIGARH

In the result, this appeal of the Assessee stands dismissed

disallowance is called for.\nTherefore, in such a scenario, on the facts and\ncircumstances of the case, there is no error in the\norder of the Assessing Officer. In this case, the\nCommissioner had tried to read too much from the\nmind of the Assessing Officer. Once, one reaches to\na conclusion that provisions of section 40(a)(ia)\nare

CHANDIGARH EDUCATIONAL SOCIETY,MOHALI vs. PR.CIT(CENTRAL)-GURGAON, AT CHANDIGARH

2) of the Act where the whole or any part of the relevant income was not exempted under section 11 or 12 of the Act, by the virtue of the provision of Section 13(1)(c) or Section 13(1)(d) of the Act, tax shall be charged on the relevant income or part of relevant income, at the maximum

CHANDIGARH EDUCATIONAL TRUST,MOHALI vs. PR.CIT-CENTRAL,GURGAON, AT CHANDIGARH

2) of the Act where the whole or any part of the relevant income was not exempted under section 11 or 12 of the Act, by the virtue of the provision of Section 13(1)(c) or Section 13(1)(d) of the Act, tax shall be charged on the relevant income or part of relevant income, at the maximum

SHRI GURU RAM DASS EDUCATIONAL SOCIETY,MOHALI vs. PR.CIT(CENTRAL) GURGAON, AT CHANDIGARH

2) of the Act where the whole or any part of the relevant income was not exempted under section 11 or 12 of the Act, by the virtue of the provision of Section 13(1)(c) or Section 13(1)(d) of the Act, tax shall be charged on the relevant income or part of relevant income, at the maximum

HARYANA BUILDING AND OTHER CONSTRUCTION WORKERS WELFARE BOARD,PANCHKULA vs. DCIT, EXEMPTION, SECTOR 17

In the result, this appeal of the Assessee stands dismissed

disallowance is called\nfor. Therefore, in such a scenario, on the facts and\ncircumstances of the case, there is no error in the\norder of the Assessing Officer. In this case, the\nCommissioner had tried to read too much from the\nmind of the Assessing Officer. Once, one reaches to\na conclusion that provisions of section 40(a)(ia)\nare

HARYANA BUILDING AND OTHER CONSTRUCTION WORKERS WELFARE BOARD,PANCHKULA vs. CIT(EXEMPTION), CHANDIGARH

In the result, this appeal of the Assessee stands dismissed

disallowance is called\nfor. Therefore, in such a scenario, on the facts and\n\ncircumstances of the case, there is no error in the\norder of the Assessing Officer. In this case, the\nCommissioner had tried to read too much from the\nmind of the Assessing Officer. Once, one reaches to\na conclusion that provisions of section

SBS BIOTECH UNIT II,SIRMOUR 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)

2) and 142(1) alongwith detailed questionnaire were issued and after taking into consideration the submissions so filed by the assessee and after carrying out necessary examination/verification, the assessment proceedings were completed under section 147 r.w.s 144B vide order dt. 30/03/2022 without drawing any adverse inference with regard to claim of deduction under section 80IC @ 100% and income so returned

HARYANA BUILDING AND OTHER CONSTRUCTION WORKERS WELFARE BOARD,PANCHKULA vs. DCIT, EXEMPTION, CHANDIGARH

In the result, this appeal of the Assessee stands dismissed

disallowance is called\nfor. Therefore, in such a scenario, on the facts and\n\ncircumstances of the case, there is no error in the\norder of the Assessing Officer. In this case, the\nCommissioner had tried to read too much from the\nmind of the Assessing Officer. Once, one reaches to\na conclusion that provisions of section

ASSISTANT COMMISSIONER OF INCOME TAX, PANCHKULA CIRCLE, PANCHKULA, PANCHKULA vs. HARYANA STATE COOPERATIVE SUPPLY AND MARKETING FEDERATION LIMITED, PANCHKULA

In the result, the present appeal of the Revenue is allowed for statistical purposes

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

section 80P(2)(e). (iii) The AO shall verify the amount of dividend received and the expenditure disallowed by the assessee suo motu. If the AO proposes to make any further disallowance under Rule 8D, he must do so after reducing the amount already disallowed by the assessee to avoid duplication. (iv) The AO shall grant adequate opportunity of being

ASSISTANT COMMISSIONER OF INCOME TAX, PANCHKULA CIRCLE, PANCHKULA, PANCHKULA vs. HARYANA STATE COOPERATIVE SUPPLY AND MARKETING FEDERATION LTD, PANCHKULA

In the result, the present appeal of the Revenue is allowed for statistical purposes

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

section 80P(2)(e). (iii) The AO shall verify the amount of dividend received and the expenditure disallowed by the assessee suo motu. If the AO proposes to make any further disallowance under Rule 8D, he must do so after reducing the amount already disallowed by the assessee to avoid duplication. (iv) The AO shall grant adequate opportunity of being

ASSISTANT COMMISSIONER OF INCOME TAX, PANCHKULA CIRCLE, PANCHKULA, PANCHKULA vs. HARYANA STATE COOPERATIVE SUPPLY AND MARKETING FEDERATION LTD, PANCHKULA

In the result, the present appeal of the Revenue is allowed for statistical purposes

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

section 80P(2)(e). (iii) The AO shall verify the amount of dividend received and the expenditure disallowed by the assessee suo motu. If the AO proposes to make any further disallowance under Rule 8D, he must do so after reducing the amount already disallowed by the assessee to avoid duplication. (iv) The AO shall grant adequate opportunity of being