DCIT, C-1(1), CHANDIGARH vs. M/S STYLAM INDUSTRIES LTD., CHANDIGARH

In the result, the Department’s appeal in for assessment year

Bench: SHRI A.D.JAIN (Vice President), SHRI VIKRAM SINGH YADAV (Accountant Member)

Section 36(1)(iii) of the Act. Holding so, the ld. CIT(A) confirmed the disallowance. ITA Nos. 1033 & 960/2017 & ITA Nos. 389 & 394/CHD/2019 22 24.2 Regarding the advance of Rs.9,50,000/- made to “Zeal Exim P.Ltd.” (supra), the ld. CIT(A) observed that again the money had been paid out of interest appearing in SBOP, CC Account

M/S STYLAM INDUSTRIES LTD.,CHANDIGARH vs. DCIT, C-1(1), CHANDIGARH

In the result, the Department’s appeal in for assessment year

Bench: SHRI A.D.JAIN (Vice President), SHRI VIKRAM SINGH YADAV (Accountant Member)

Section 36(1)(iii) of the Act. Holding so, the ld. CIT(A) confirmed the disallowance. ITA Nos. 1033 & 960/2017 & ITA Nos. 389 & 394/CHD/2019 22 24.2 Regarding the advance of Rs.9,50,000/- made to “Zeal Exim P.Ltd.” (supra), the ld. CIT(A) observed that again the money had been paid out of interest appearing in SBOP, CC Account

DCIT, C-1(1), CHANDIGARH vs. M/S STYLAM INDUSTRIES LTD., CHANDIGARH

In the result, the Department’s appeal in for assessment year

Bench: SHRI A.D.JAIN (Vice President), SHRI VIKRAM SINGH YADAV (Accountant Member)

Section 36(1)(iii) of the Act. Holding so, the ld. CIT(A) confirmed the disallowance. ITA Nos. 1033 & 960/2017 & ITA Nos. 389 & 394/CHD/2019 22 24.2 Regarding the advance of Rs.9,50,000/- made to “Zeal Exim P.Ltd.” (supra), the ld. CIT(A) observed that again the money had been paid out of interest appearing in SBOP, CC Account

M/S STYLAM INDUSTRIES LTD.,CHANDIGARH vs. DCIT, C-1(1), CHANDIGARH

In the result, the Department’s appeal in for assessment year

Bench: SHRI A.D.JAIN (Vice President), SHRI VIKRAM SINGH YADAV (Accountant Member)

Section 36(1)(iii) of the Act. Holding so, the ld. CIT(A) confirmed the disallowance. ITA Nos. 1033 & 960/2017 & ITA Nos. 389 & 394/CHD/2019 22 24.2 Regarding the advance of Rs.9,50,000/- made to “Zeal Exim P.Ltd.” (supra), the ld. CIT(A) observed that again the money had been paid out of interest appearing in SBOP, CC Account

GEETA SHARMA,SUNAM vs. PRINCIPAL COMMISSIONER OF INCOME TAX , PATIALA

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

156 of the Act for assessment year 2019-20 bears the amount of Rs.1731/- vide Notice No. ITBA/AST/S/156/2021-22/1035457567(1) dated 10.09.2021. 13. That Computation Sheet bearing No. ITBA/AST/S/183/2021- 22/1035457570(1) for assessment year 2019-20 in respect of order under Section 143(3) dated 10.09.2021 show in column No. 59 demand of Rs.1731/- as Payable. 14. That the impugned order

SH. AMAN SETH,LUDHIANA vs. ITO, W-1(1), LUDHIANA

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

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

156 ITD 566 (Chd. Trib.) Interest on borrowed capital - sufficient interest free funds - presumption is advances were from interest free funds- no disallowance can be made. DCIT vs. Sindhu Realtors Pvt. Ltd. (2016) 45 ITR 448 (Delhi Trib.) Interest on borrowed capital - no disallowance in case there are sufficient shareholder's without interest burden and borrowing had been used

ACIT, CIRCLE, SHIMLA vs. SHRI VINOD SHARMA, NEW DELHI

In the result, the appeal of the Revenue is dismissed

Bench: Shri A.D. Jain & Dr Krinwant Sahayआयकर अपील सं./ Ita No. 1449/Chd/2019 "नधा"रण वष" / Assessment Year: 2015-16 The Acit, Vs. Shri Vinod Sharma, बनाम B-1/3, Circle, Safdarjang Enclave, Shimla New Delhi 110029 "थायी लेखा सं./Pan No: Abkps1560N अपीलाथ"/ Appellant ""यथ"/ Repsondent (Hybrid Mode ) "नधा"रती क" ओर से/Assessee By : Sh. Vishal Mohan, Sr. Advocate With Shri Ahninav Bazwaria, Advocate राज"व क" ओर से/ Revenue By : Smt. Kusum Bansal, Cit Dr सुनवाई क" तार"ख/Date Of Hearing : 10.06.2024 उदघोषणा क" तार"ख/Date Of Pronouncement : 09.07.2024

disallowed the claim of the assessee. According to Assessing officer, the assessee could have purchased a house property between 28.12.2010 to 28.10.2011 in order to claim deduction under section 54. Since the assessee invested in the residential House property namely DLF Magnolia way back in F.Y. 2005-06 which is clearly outside the time period mentioned in section

TYNOR ORTHOTICS PRIVATE LIMITED,MOHALI vs. ASSTT. COMMISSIONER OF INCOME TAX, CIRCLE 6(1), MOHALI, MOHALI

In the result, appeal of the Assessee is partly allowed

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

disallowances of Rs.85,00,000 excess salary and Rs.3,88,300/- software expenses. Penalty proceedings under Section 270A were initiated for under-reporting and misreporting of income, and interest was charged under Sections 234A, 234B, and 234C. A demand notice under Section 156

DCIT, C-1(1) , CHANDIGARH vs. M/S FIDELITY INFORMATION SERVICES INDIA PVT. LTD., CHANDIGARH

In the result, the cross-objection filed by the assessee is dismissed

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

disallowed the foreign travel expenses which clearly form part of the operating expenses and the cost base and on which the assessee has reported the revenues after considering the mark up of 16.60%. Such an action on part of the AO is clearly in breach of letter and spirit of the APA which has been entered into by CBDT

INFRASTRUCTURE DEVELOPMENT FUND ,CHANDIGARH vs. ACIT (EXEMPTIONS), CHANDIGARH

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

Bench: Shri A.D. Jain & Dr Krinwant Sahayआयकर अपील सं./ Ita No. 285/Chd/2023 "नधा"रण वष" / Assessment Year : 2017-18 Infrastructure Development Fund, Vs. The Acit बनाम Ayojna Bhawan, Exemptions, Town & Country Planning Department, Chandigarh Haryana, Plot No.3, Madhya Marg, Sector 18, Chandigarh 160018 "थायी लेखा सं./Pan No: Aaal10136K अपीलाथ" ./ Appellant ""यथ" / Respondent

156 made by Ld. AO by disallowing (accumulation u /s 11(2)W the Income Tax Act, 1961. 5. That on the facts, circumstances and legal position of the case, the Worthy CIT(A) has erred in confirming the impugned addition of Rs. 63.16 Crore made by Ld. A.O. 3 285-c-2023 – Infrastructure Development Fund, Chandigarh

THE PUNJAB STATE CO-OPERATIVE HOUSE BUILDING FEDERATION LTD.,CHANDIGARH vs. DCIT/ACIT, CIRCLE-1(1), CHANDIGARH

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

Bench: Shri A.D. Jain & Shri Krinwant Sahayआयकर अपील सं./ Ita No. 136/Chd/2023 "नधा"रण वष" / Assessment Year : 2014-15 The Punjab State Co-Op. Vs. The Dcit / Acit, बनाम Circle 1(1), House Building Federation Chandigarh Ltd. Sco 150-152, Sector 34A Chandigarh "थायी लेखा सं./Pan No: Aaaat0759L अपीलाथ"/ Appellant ""यथ"/ Repsondent

section 57(iii) has been allowed that is bad in law and needs to be set aside. 2. The Assessing Officer and Ld. CIT(Appeals) has erred to disallow the interest income of Rs. 136 & 156

THE PUNJAB STATE CO-OPERATIVE HOUSE BUILDING FEDERATION LTD.,CHANDIGARH vs. DCIT/ACIT, CIRCLE-1(1), CHANDIGARH

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

Bench: Shri A.D. Jain & Shri Krinwant Sahayआयकर अपील सं./ Ita No. 136/Chd/2023 "नधा"रण वष" / Assessment Year : 2014-15 The Punjab State Co-Op. Vs. The Dcit / Acit, बनाम Circle 1(1), House Building Federation Chandigarh Ltd. Sco 150-152, Sector 34A Chandigarh "थायी लेखा सं./Pan No: Aaaat0759L अपीलाथ"/ Appellant ""यथ"/ Repsondent

section 57(iii) has been allowed that is bad in law and needs to be set aside. 2. The Assessing Officer and Ld. CIT(Appeals) has erred to disallow the interest income of Rs. 136 & 156

M/S JAIN AMAR CLOTHING PRIVATE LIMITED,LUDHIANA vs. DCIT-CC-3, LUDHIANA

In the result, appeal of the assessee is allowed

Bench: Or At The Time Of Hearing.

disallowed under section 37 of the Act. 3.2 In response the assessee filed reply on 21/12/2019 and stated that as per Clause 8 of the lease deed the assessee will be responsible for any wear and tear, maintenance and other repairs of the building. Thus, the loss on account of fire was claimed as revenue loss and not the capital

SJVN LIMITED,SHIMLA HIMACHAL PRADESH vs. ACIT , SHIMLA

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

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

disallowance of the same was made in the assessment order by the AO NaFAC. However, in the computation-of-income attached with the assessment order the deduction u/s 80IA was remained to be allowed inadvertently. Therefore, the contention of the assessee is accepted and mistake apparent from the records is being rectified as under. 6. On the issue raised

PUKHRAJ SINGH GUJRAL,CHANDIGARH vs. CPC, BENGALURU

In the result, the appeal of the assessee is allowed

Bench: Final Hearing

disallowance of FTC in case of delay in filing Form 67. Similar view has been taken in the case of Ms. Brinda RamaKrishna v. ITO(2022 (2) TMI 752- ITAT/[2022] 135 taxmann.com 358/193 ITD 840 (Bangalore - Trib.) Bangalore, for the purpose of Form 67 rwr 128 relating to FTC. 10.4 We also consider the decision of the ITAT , Ahmedabad

SHRI MUNISH ARORA,CHANDIGARH vs. ACIT, CC-II, CHANDIGARH

In the result, the appeals filed for Assessee are disposed off as under:

Bench: Shri A.D. Jain & Shri Krinwant Sahayआयकर अपील सं./ Ita No. 156/Chd/2019 "नधा"रण वष" / Assessment Year : 2008-09 आयकर अपील सं./ Ita No. 157/Chd/2019 "नधा"रण वष" / Assessment Year : 2009-10 आयकर अपील सं./ Ita No. 158/Chd/2019 "नधा"रण वष" / Assessment Year : 2014-15 आयकर अपील सं./ Ita No. 169/Chd/2019 "नधा"रण वष" / Assessment Year : 2010-11 आयकर अपील सं./ Ita No. 170/Chd/2019 "नधा"रण वष" / Assessment Year : 2011-12 & आयकर अपील सं./ Ita No. 171/Chd/2019 "नधा"रण वष" / Assessment Year : 2012-13 Shri Munish Arora, Vs. The Acit, बनाम Central Circle-Ii, 1136, Ist Floor, Chandigarh Sector 8-C, Chandigarh "थायी लेखा सं./Pan No: Aexpa3762N अपीलाथ"/ Appellant ""यथ"/ Repsondent ( Physical Hearing ) "नधा"रती क" ओर से/Assessee By : Shri Tej Mohan Singh, Advocate राज"व क" ओर से/ Revenue By : Smt. Kusum Bansal, Cit Dr सुनवाई क" तार"ख/Date Of Hearing : 25.09.2024 उदघोषणा क" तार"ख/Date Of Pronouncement : 09.10.2024

156 to 158 & 169 to 171-Chd-2019 Munish Arora, Chandigarh 7 to three people Mr. Ajay Sharma Ms. Gunjan and Mr. Sahil. They have simply disallowed it because the amount was in excess of section

SHRI MUNISH ARORA,CHANDIGARH vs. ACIT, CC-II, CHANDIGARH

In the result, the appeals filed for Assessee are disposed off as under:

Bench: Shri A.D. Jain & Shri Krinwant Sahayआयकर अपील सं./ Ita No. 156/Chd/2019 "नधा"रण वष" / Assessment Year : 2008-09 आयकर अपील सं./ Ita No. 157/Chd/2019 "नधा"रण वष" / Assessment Year : 2009-10 आयकर अपील सं./ Ita No. 158/Chd/2019 "नधा"रण वष" / Assessment Year : 2014-15 आयकर अपील सं./ Ita No. 169/Chd/2019 "नधा"रण वष" / Assessment Year : 2010-11 आयकर अपील सं./ Ita No. 170/Chd/2019 "नधा"रण वष" / Assessment Year : 2011-12 & आयकर अपील सं./ Ita No. 171/Chd/2019 "नधा"रण वष" / Assessment Year : 2012-13 Shri Munish Arora, Vs. The Acit, बनाम Central Circle-Ii, 1136, Ist Floor, Chandigarh Sector 8-C, Chandigarh "थायी लेखा सं./Pan No: Aexpa3762N अपीलाथ"/ Appellant ""यथ"/ Repsondent ( Physical Hearing ) "नधा"रती क" ओर से/Assessee By : Shri Tej Mohan Singh, Advocate राज"व क" ओर से/ Revenue By : Smt. Kusum Bansal, Cit Dr सुनवाई क" तार"ख/Date Of Hearing : 25.09.2024 उदघोषणा क" तार"ख/Date Of Pronouncement : 09.10.2024

156 to 158 & 169 to 171-Chd-2019 Munish Arora, Chandigarh 7 to three people Mr. Ajay Sharma Ms. Gunjan and Mr. Sahil. They have simply disallowed it because the amount was in excess of section

SHRI MUNISH ARORA,CHANDIGARH vs. ACIT, CC-II, CHANDIGARH

In the result, the appeals filed for Assessee are disposed off as under:

Bench: Shri A.D. Jain & Shri Krinwant Sahayआयकर अपील सं./ Ita No. 156/Chd/2019 "नधा"रण वष" / Assessment Year : 2008-09 आयकर अपील सं./ Ita No. 157/Chd/2019 "नधा"रण वष" / Assessment Year : 2009-10 आयकर अपील सं./ Ita No. 158/Chd/2019 "नधा"रण वष" / Assessment Year : 2014-15 आयकर अपील सं./ Ita No. 169/Chd/2019 "नधा"रण वष" / Assessment Year : 2010-11 आयकर अपील सं./ Ita No. 170/Chd/2019 "नधा"रण वष" / Assessment Year : 2011-12 & आयकर अपील सं./ Ita No. 171/Chd/2019 "नधा"रण वष" / Assessment Year : 2012-13 Shri Munish Arora, Vs. The Acit, बनाम Central Circle-Ii, 1136, Ist Floor, Chandigarh Sector 8-C, Chandigarh "थायी लेखा सं./Pan No: Aexpa3762N अपीलाथ"/ Appellant ""यथ"/ Repsondent ( Physical Hearing ) "नधा"रती क" ओर से/Assessee By : Shri Tej Mohan Singh, Advocate राज"व क" ओर से/ Revenue By : Smt. Kusum Bansal, Cit Dr सुनवाई क" तार"ख/Date Of Hearing : 25.09.2024 उदघोषणा क" तार"ख/Date Of Pronouncement : 09.10.2024

156 to 158 & 169 to 171-Chd-2019 Munish Arora, Chandigarh 7 to three people Mr. Ajay Sharma Ms. Gunjan and Mr. Sahil. They have simply disallowed it because the amount was in excess of section