M/S BHUSHAN POWER AND STEEL LTD.,CHANDIGARH vs. DCIT/ACIT (CEN.)-1, CHANDIGARH

In the result, the appeal of the assessee is dismissed

Bench: Shri A.D. Jain & Shri Krinwant Sahay

1) of section 142, such return shall be processed in the following manner, namely:— (a) the total income or loss shall be computed after making the following adjustments, namely:— (ii) an incorrect claim, if such incorrect claim is apparent from any information in the return; (iv) disallowance

SANJEEV KUMAR KATHURIA,YAMUNA NAGAR vs. INCOME TAX OFFICER WARD 1 , YAMUNANAGAR

In the result, the appeal of the assessee is allowed

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

142(1) were issued alongwith questionnaire, and after taking into consideration the submission filed by the assessee and carrying out the necessary verification/ examination, the assessment proceedings were completed under section 143(3) r.w.s 143(3A) &143(3B) of the Act, wherein the assessed income was determined at Rs. 88,44,429/- after making the disallowance

EXOTIC REALTORS AND DEVELOPERS,CHANDIGARH vs. PR.CIT-1, CHANDIGARH

In the result, appeal of the assessee is allowed

Bench: SHRI. KRINWANT SAHAY (Accountant Member), SHRI. PARESH M. JOSHI (Judicial Member)

disallowance was made. Since this assessment order under section 147 dt. 24/03/2023 was available; it became part of record and by virtue of Section 263(1)(b) the word “record” [shall include and shall be deemed always to have included) all records relating to any proceeding under this Act available at the time of examination by the PCIT. Since this

DCIT, CIRCLE, YAMUNANAGAR vs. M/S SYMBIOSIS PHARMACEUTICALS PVT. LTD., YAMUNANAGAR

In the result, appeal is dismissed

Bench: The Due Date As Prescribed In Section 139(1) Of The I.T. Act, 1961 Whereas The Assessee Has Filed Its Return Of Income After The Due Date.

142' by Direct Tax Laws (Amendment) Act, 1987 with effect from 01.04.1989, the expression used was 'sub section (2) of section 139' at the relevant point of time. The Assessing Officer was empowered to issue a notice requiring furnishing of a return within the time indicated therein. That means the infractions which are covered by section 276CCC relate

VARDHMAN SPECIAL STEELS LTD.,LUDHIANA vs. DCIT, CIRCLE-1, LUDHIANA

Section 143(2) were\nissued by the National e-Assessment Centre (NeAC) on 22/09/2019,\nand the case was later transferred to the Regional e-Assessment Centre\n(ReAC) on 15/10/2020, for faceless assessment. Further notices under\nSection 142(1) were issued on 27/01/2020, 24/12/2020, and 22/02/2021,\nto which the assessee responded with the required details.\n3.1\nRegarding disallowance

SH. VIBHAV JAIN,LUDHIANA vs. DCIT, CC-III, LUDHIANA

In the result, the ground no

Bench: SHRI. SANJAY GARG (Judicial Member), SHRI. VIKRAM SINGH YADAV (Accountant Member)

disallowance can be made only on the basis of material collected during the search or requisition. In case no incriminating material is found, as held by the Rajasthan High Court in the case of Jai Steel (India) v. Asst. CIT (supra), the earlier assessment would have to be reiterated. In case where pending assessments have abated, the Assessing Officer

SH. ASHISH JAIN,LUDHIANA vs. DCIT, CC-III, LUDHIANA

In the result, the ground no

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

disallowance can be made only on the basis of material collected during the search or requisition. In case no incriminating material is found, as held by the Rajasthan High Court in the case of Jai Steel (India) v. Asst. CIT (supra), the earlier assessment would have to be reiterated. In case where pending assessments have abated, the Assessing Officer

SH. AKHIL JAIN,LUDHIANA vs. DCIT, CC-III, LUDHIANA

In the result, the ground no

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

disallowance can be made only on the basis of material collected during the search or requisition. In case no incriminating material is found, as held by the Rajasthan High Court in the case of Jai Steel (India) v. Asst. CIT (supra), the earlier assessment would have to be reiterated. In case where pending assessments have abated, the Assessing Officer

SH. ASHISH JAIN,LUDHIANA vs. DCIT, CC-III, LUDHIANA

In the result, the ground no

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

disallowance can be made only on the basis of material collected during the search or requisition. In case no incriminating material is found, as held by the Rajasthan High Court in the case of Jai Steel (India) v. Asst. CIT (supra), the earlier assessment would have to be reiterated. In case where pending assessments have abated, the Assessing Officer

SH. BIPAN JAIN,LUDHIANA vs. DCIT, CC-III, LUDHIANA

In the result, the ground no

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

disallowance can be made only on the basis of material collected during the search or requisition. In case no incriminating material is found, as held by the Rajasthan High Court in the case of Jai Steel (India) v. Asst. CIT (supra), the earlier assessment would have to be reiterated. In case where pending assessments have abated, the Assessing Officer

M/S JAIN AMAR CLOTHING PVT. LTD.,LUDHIANA vs. DCIT, CC-III, LUDHIANA

In the result, the ground no

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

142(1) alongwith detailed questionnaire were issued to the assessee. It was stated by the AO that during the course of search proceedings as well as assessment proceedings, it has been noticed that the assessee has received share premium of Rs. 28.26 Cr. on 30/03/2012 from three Kolkata based companies namely M/s Ever Green Goods Pvt. Ltd. from whom

THE LANJANI CO-OPERATIVE AGRI SERVICE SOCIETY LIMITED,KANGRA vs. DCIT,CPC/ITO-WARD-, DHARAMSHALA

In the result, the appeals of the assessees are allowed

1) of section 142, such return shall be processed in the following manner, namely:— (a) the total income or loss shall be computed after making the following adjustments, namely: — (i)any arithmetical error in the return; [***] (ii) an incorrect claim, if such incorrect claim is apparent from any information in the return; (iii) disallowance

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)

Section 147 is attracted. The reasons to believe ought to also paraphrase any investigation report which may form the basis of the reasons and any enquiry conducted by the AO on the same and if so, the conclusions thereof; (iii) where the reasons make a reference to another document, whether as a letter or report, such document and/ or relevant

HARYANA URBAN DEVELOPMENT AUTHORITY,PANCHKULA, HARYANA vs. PRINCIPAL COMMISSIONER OF INCOME TAX, PANCHKULA , HARYANA

In the result, the appeal filed by the assessee is dismissed

disallowed.\n9. Section 143(1) (a) of the Act provides that, where a return has been made under section 139, or in response to a notice under sub-section (1) of section 142

THE CHAPLAH CO-OPERATIVE AGRICULTURAL SERVICE SOCIETY LTD,VPO CHOULI vs. LD. DCIT , CPC, CPC, BENGALURU

In the result, appeal of the Assessee is allowed

Bench: The Tribunal Against The Order Dt 25.04.2023 Of Ld. Commissioner Of Income Tax(Appeals), National Faceless Appeal Centre (Nfac), Delhi.

1) of section 142, such return shall be processed in the following manner, namely:— (a) the total income or loss shall be computed after making the following adjustments, namely: — (i)any arithmetical error in the return; [***] (ii) an incorrect claim, if such incorrect claim is apparent from any information in the return; (iii) disallowance

IND SWIFT LABORATORIES LTD.,CHANDIGARH vs. DCIT, CIRCLE 1(1), CHANDIGARH

In the result, the appeal is allowed, as indicated

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

1)(i) of the Act. The AO, vide notice dated 03.02.2021, issued u/s 142(1) of the Act, asked the assessee to furnish the details of the expenditure claimed; as to whether the expenditure had been made for in-house research, or paid to some outside agencies; that if the research was an in-house research, to specify the nature

DCIT, C-1 (EXEMPTIONS), CHANDIGARH vs. THE INSTITUTION OF CIVIL ENGINEERS SOCIETY, LUDHIANA

In the result, appeal of the Revenue is dismissed

142(1)\nwere issued and served upon the assessee.\n5.2 The 1d. AO has analyzed the activities of the assessee\nand found that assessee has extended the undue benefit to\ntwo individuals, who fellwithin the ambit of individuals'\ncontained in sub-section (3) to Section 13. Hence, payments\ngiven to these two individuals namely, Kalpana Thakur and\nShubhdeep have been

BANGA HOSPITALS PRIVATE LIMITED,MANDI vs. ITO, MANDI

In the result, appeal of the Assessee is partly allowed

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

142(1); Notice по. ITBA/AST/F/142(1)/2019- 20/1020608855(1) dated 18.11.2019 issued, the assessee was once again requested to fumishalongwith all supportive documentary evidences, as called for, on or before 22.11.2019. However the assessee, this time again failed to comply the same. f) Since, assessee has intentionally tried to avoid the assessment proceedings therefore vide show cause Notice no. ITBA/AST/F/143