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

ii) an incorrect claim, if such incorrect claim is apparent from any information in the return; (iv) disallowance of expenditure or increase in income indicated in the audit report but not taken into account in computing the total income in the return’ 8. Sub-section (1) of section 143

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 the Act and therefore, the claim made by the assessee is apparently not admissible in terms of provisions of section 80AC(ii) of the Act and thus was rightly disallowed by the A.O. CPC in the order passed u/s 143

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

143. (1) Where a return has been made under section 139, or in response to a notice under sub-section (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

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

143(1) of the Act. Later on the case was selected for scrutiny. The A.O. during the course of assessment proceedings noticed that the assessee earned dividend income of Rs.9,19,28,102/- and LTCG taxable Rs. 7,59,39,798/- and Rs.6,06,39,256/- which were claimed exempt under section 10(38) of the Act and that

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 the same under section 43B of the Act, the said question was a debatable question or not, and whether the assessing officer was justified in adjusting, prima facie, and adding the aforesaid amount or not.\n8. Section 143(1)(a) of the Act reads as under :\n'143. Assessment^ 1) (a) Where a return has been made under section

THE SURARWAN GAGWAN CO-OPERATIVE AGRICULTURE SERVICE SOCIETY LIMITED ,SURARWAN vs. LD. DCIT, CPC, CPC, BENGALURU

In the result, the appeal of the Assessee is allowed

Bench: Dr Krinwant Sahay & Shri Paresh M. Joshiआयकर अपील सं./ Ita No. 46/Chd/2024 "नधा"रण वष" / Assessment Year : 2017-18 The Surarwan Gagwan Co- Vs. The Ito, Operative Agriculture Service बनाम Ward, Society Limited, Nurpur (Palampur ) Surarwan Indora H.P. "थायी लेखा सं./Pan No: Aaact8925A अपीलाथ"/ Appellant ""यथ"/ Repsondent (Virtual Hearing) "नधा"रती क" ओर से/Assessee By : Sh. Vishan Mohan, Sr. Advocate With Sh Aditya Sood, Adv. राज"व क" ओर से/ Revenue By : Shri Dharam Vir, Jcit, Sr. Dr सुनवाई क" तार"ख/Date Of Hearing : 25.07.2024 उदघोषणा क" तार"ख/Date Of Pronouncement : 29.07.2024

143. (1) Where a return has been made under section 139, or in response to a notice under sub-section (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

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

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

143(1) of the Act. Later on the case was\nselected for scrutiny. The A.O. during the course of assessment\nproceedings noticed that the assessee earned dividend income of\nRs.9,19,28,102/- and LTCG taxable Rs. 7,59,39,798/- and Rs.6,06,39,256/-\nwhich were claimed exempt under section 10(38) of the Act and that\nthe

THE BALOL CO-OPERATIVE AGRICULTURAL SERVICE SOCIETY LIMITED,KANGRA vs. ITO, WARD, DHARAMSHALA

In the result, the appeal of the assessee is allowed

143. (1) Where a return has been made under section 139, or in response to a notice under sub-section (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

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)

Disallowance of rs. 62,15,000/- in terms of Section 36(1)(vii) of the Act. Basis section 147 the Department / Revenue contends that a mere perusal of Section 147 reveal that there is no reference or mention explicity or impliedly to a new tangible information as claimed by the assessee to the effect that there must

THE RUHRU CO-OPERATIVE AGRI SERVICE SOCIETY LIMITED,KANGRA vs. ITO WARD, DHARAMSHALA

In the result, the appeal of the assessee is allowed

143. (1) Where a return has been made under section 139, or in response to a notice under sub-section (1) of section 142, such return shall be processed in the following manner, namely:— ITA 580 /CHD/2022 A.Y. 2018-19 Page 7 of 9 (a) the total income or loss shall be computed after making the following adjustments, namely

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)

disallowance under section 40A(3) of the Act amounting to Rs. 12,09,560/-. 4. Subsequently, the assessment records were called for and examined by the Ld. PCIT, Panchkula and a show cause under section 263 dt. 12/12/2023 was issued by the Ld. PCIT and the contents thereof read as under: “Perusal of assessment record reveals that you had sold

RAMJEE CONCRETES PVT.LTD.,MOHALI vs. ITO-WARD-6(3), CHANDIGARH

The appeals are disposed of in the aforesaid terms

Bench: Shri N.K. Saini & Shri Sudhanshu Srivastavaआयकर अपील सं./ Ita No. 205/Chd/2021 "नधा"रण वष" / Assessment Year : 2019-20 Ramjee Concretes Private Limited, The Ito, बनाम #1238.Sector 91, Ward 6(3), Mohali, Punjab Chandigarh "थायी लेखा सं./Pan No: Aafcr9457E अपीलाथ"/Appellant ""यथ"/Respondent

143(1) amounting to Rs 4,38,530/- so made by the CPC towards the delayed deposit of the employees’s contribution towards ESI and PF though paid well before the due date of filing of return of income u/s 139(1) of the Act is hereby directed to be deleted as the same cannot be disallowed under section

ASHISH SOOD,ZIRAKPUR vs. THE DY. COMMISSIONER OF INCOME TAX, CIRCLE-1(1), CHANDIGARH, CHANDIGARH

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

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

disallowance of the claim on a debatable issue is beyond the scope of Section 143(1) which makes the addition made arbitrary and unjustified. 3. That the Ld. Commissioner of Income Tax(Appeals) has erred in not following the decisions of the Hon'ble High Court of Madras and various Benches of Hon'ble ITAT including that of the Jurisdictional

THE JABO MAJRO CO-OPERATIVE LABOUR AND CONSTRUCTION SOCIETY LTD.,MALERKOTLA vs. ITO, MALERKOTLA

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

ii) That the learned CIT(Appeals) is erred in application of provisions of Finance Bill 2021. The Memorandum clearly explains that the new provisions shall be applicable on and w.e.f 01-04-2021. Therefore applicable for the assessment year 2021-22. 4 (iii) That the Ld. CIT(appeals) has erred in law to decide the issue of disallowance under section

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)

143 Taxmann.com 404 (Del HC) wherein the said principle has been followed by the Hon’ble Gujarat and Delhi High Court in context of long term capital gains on sale of shares. 9.8 It was further submitted that under identical set of facts and circumstances, in case of group cases, namely Shri Ashish Jain, Shri Akhil Jain and Shri Bipin

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)

143 Taxmann.com 404 (Del HC) wherein the said principle has been followed by the Hon’ble Gujarat and Delhi High Court in context of long term capital gains on sale of shares. 11. In his submissions, the ld CIT/DR submitted that it is a clear case where incriminating material has been found during the course of search in terms

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)

143 Taxmann.com 404 (Del HC) wherein the said principle has been followed by the Hon’ble Gujarat and Delhi High Court in context of long term capital gains on sale of shares. 11. In his submissions, the ld CIT/DR submitted that it is a clear case where incriminating material has been found during the course of search in terms