ITO, WARD, PALAMPUR vs. THE KANGRA CENTRAL COOPERATIVE BANK LIMITED, KANGRA

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

Bench: Us Is Filed Under Section 253 Of The Income Tax Act, As Amended From Time To Time. The Respondent Is A Cooperative Bank.

disallowance of expenditure under section 14A of the Act. So the addition made shall be deleted. 2. The another additions made is on the account of income on NPA as per section 43D of the ACT for Rs 66,53,09,400/-. To this it is explained that from Finance Act 2017 w.e.f. 01.04.2018 there has been amendment

M/S HARYANA STATE INDUSTRIAL & INFRASTRUCTURE DEVELOPMENT CORPN.,,PANCHKULA vs. ACIT,, PANCHKULA

In the result, all the above appeals of the assessee are

Bench: The Itat. That In The First Round The Itat Had Held The Provisions Of Section 14A Of The Act, For The Purposes Of Disallowing Expenses Relating To Exempt Income, Applicable In The Facts Of The Present Cases On Noting That The Assessee Had Earned Exempt Income In The Form

disallowance of Rs.53,03,657/- applying Rule 8D(2)(ii) and Rule 8D2)(iii) ignoring the submissions of the assessee which are placed at PB Page 15-18. In this regard we would like to first refer to the provisions of Section 14-A of the Act which are reproduced as below: ITA Nos.275 to 279/Chd/2020 A.Ys

M/S APEX BUILDERS, LUDHIANA vs. ITO, W-2(1), LUDHIANA

The appeal is partly allowed

Bench: SHRI. LALIET KUMAR (Judicial Member)

Section 40A(3) is upheld.In the result, this ground raised by the Assessee is dismissed. 18. Concerning the disallowance of Rs.10,24,000/- on account of unverifiable purchases, the Ld. AR submitted that the disallowance is unwarranted as the assessee had duly furnished vouchers in support of the purchases in question. In contrast, the Ld. DR relied on the findings

DSM SINOCHEM PHARMACEUTICALS INDIA PRIVATE LIMITED,NAWANSHAHR vs. DCIT, CHANDIGARH

In the result, appeal of the assessee is partly allowed

Bench: Shri N.K. Saini, Vice- & Shri Vikas Awasthyआअसं. 253/ चंडीगढ़/2016(िन.व. 2011-12)

19. On the other hand, the ld. DR vehemently defended the assessment order and the directions of the DRP to contend that disallowance under section

M/S DSM SINOCHEM PHARMACEUTICALS INDIA PVT. LTD. ,TOANSA vs. DCIT, C-1(1), CHANDIGARH

In the result, appeal of the assessee is partly allowed

Bench: Shri N.K. Saini, Vice- & Shri Vikas Awasthyआअसं. 253/ चंडीगढ़/2016(िन.व. 2011-12)

19. On the other hand, the ld. DR vehemently defended the assessment order and the directions of the DRP to contend that disallowance under section

ACIT, CIRCLE, PANCHKULA vs. M/S HARYANA VIDYUT PRASARAN NIGAM LTD., PANCHKULA

In the result, we upheld the

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

disallowed under section 36(1)(iii) of the Act. 19. During the appellate proceedings, the assessee submitted that the interest

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

disallowance of Rs. 14,15,10,213/- made by the A.O. by\ninvoking the provisions of Section 14A of the Income Tax Act, 1961.\n(hereinafter referred to as Act).\n5. Facts of the case in brief are that the assessee filed its return of\nincome on 20/03/2014 declaring an income of Rs. 140,32,08,590/- which\nwas processed

ITO, W-2, BARNALA vs. THE TRUCK OPERATOR UNION, BARNALA

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

Bench: Smt.Diva Singh & Shri Vikram Singh Yadavthe Ito बनाम The Truck Operator Union, Ward-2, Barnala Dhanaula Road, Barnala "थायी लेखा सं./Pan No: Aaaat6497M

disallowed as a deduction under sub-section (3), then the payment may be made by such cheque or draft; and where the payment is so made or tendered, no person shall be allowed to raise, in any suit or other proceeding, a plea based on the ground that the payment was not made or tendered in cash

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1), CHANDIGARH vs. ESSIX BIOSCIENCES LIMITED, MANIMAJRA

In the result, the appeal is dismissed and the

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

19. Accordingly, Ground Nos. 3 to 6 of the Department’s appeal are rejected and the Cross Objection filed by the assessee is accepted.” 10. The Tribunal, thus, decided the matter in favour of the assessee and directed the disallowance under Section

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

19), dated 18th May, 1967 issued by the CBDT which reads as follows :- “Interpretation of provision of Section 40(a)(ii) of IT Act, 1961 – Clarification regarding.- “Recently a case has come to the notice of the Board where the Income Tax Officer has disallowed

PUNJAB SMALL INDUSTRIES AND EXPORT CORPORATION LTD.,CHANDIGARH vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE 2(1), CHANDIGARH, CHANDIGARH

In the result, appeal of the Assessee is partly allowed

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

Section 40(a)(ia): Disallowed 30% of Rs. 19,27,329 paid as interest to six ex-employees without TDS, as required

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

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

section 14 A for disallowance of interest etc...." The assessee's reply has been duly considered. But the same is not acceptable. As mentioned in the pre paras there are heavy secured and unsecured loans standing in the balance sheet of the assessee on which interest payment are being made and the said interest is also being claimed

SH. RAJIV KUMAR,MOHALI vs. ITO , WARD -1,, SANGRUR

In the result, both the appeals of the assessees are allowed

19, 1987, 167 ITR 471 (1987), In this case the Hon'ble Supreme Court has indicated that in matter of Condonation of delay a liberal approach should be adopted as a litigant does not stand to benefit by lodging an appeal late. ii) The Chandigarh Bench of the Tribunal vide ITAT no. 110-111 dt. 08.09.2004 in the case

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)

section 35(2AB) of the Act ignoring the suo motu disallowance of Rs.10,51,71,451/- made by the assessee on account of research development expenditure claimed in the profit and loss and the said action of the AO will lead to double addition of the same amount in the hands of the assessee. 6. i) On the facts

M/S LONGOWALIA YARNS LIMITED,LUDHIANA vs. DCIT, CENTRAL CIRLE -1, CHANDIGARH

In the result, both the appeals of the assessees are allowed

Bench: Filing Of The Return.

section 139(1) of the Act. When the matter was taken to the Ld. CIT(A) the said disallowance was sustained. 5. Now the assessee is in appeal. 6. The Ld. Sr. DR strongly supported the orders of the authorities below and submitted that since the payment of Rs. 29,22,964/- towards ESI and PF was not made within

M/S BASANT MECHANICAL WORKS,LUDHIANA vs. JCIT, CIRCLE IV, LUDHIANA

In the result, both the appeals of the assessees are allowed

Bench: Shri A.D. Jainआयकर अपील सं./ Ita No. 541/Chd/2022 "नधा"रणवष" / Assessment Year : 2017-18 M/S Basant Mechanical Works, 1. Dcit, Cpc, बनाम 720-21, Ind. Area-B, Banglore Ludhiana, Punjab 2. Jurisdiction Ao- 141003 Jcit, Circle Iv, Ludhiana "थायी लेखा सं./Pan No: Aabfb0687M अपीलाथ"/Appellant ""यथ"/Respondent

19 in the case of Raja Ram Vs. ITO, Yamunanagar and in the case of Sanchi Management Services Private Limited Vs. ITO, Chandigarh in ITA No. 190/Chd/2021 for the A.Y. 2018-19. 6. In his rival submissions, the Ld. DR strongly supported the orders of the authorities below and reiterated the observations made by the Ld. NFAC in the impugned

DY. COMMISSIONER OF INCOME TAX, CIRCLE-4, AAYAKAR BHAWAN vs. ROCKMAN INDUSTRIES LIMITED, -

In the result order of CIT(A) is sustained as passed and the appeal of the Revenue is partly allowed for statistical purposes

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

19,11,875 27,10,09,614 Since, it could be clearly decipherable from the table that the assessee has got sufficient own funds, we hereby hold that no disallowance under Rule 8D(2)(ii) is required and decline to interfere in the order of the Ld. CIT(A). In respect of the disallowance of interest u/s14A, for the purpose

ASSTT. COMMISSIONER OF INCOME TAX, CIRCLE-4, AAYAKAR BHAWAN vs. ROCKMAN INDUSTRIES LIMITED, -

In the result order of CIT(A) is sustained as passed and the appeal of the Revenue is partly allowed for statistical purposes

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

19,11,875 27,10,09,614 Since, it could be clearly decipherable from the table that the assessee has got sufficient own funds, we hereby hold that no disallowance under Rule 8D(2)(ii) is required and decline to interfere in the order of the Ld. CIT(A). In respect of the disallowance of interest u/s14A, for the purpose

DY. COMMISSIONER OF INCOME TAX, CIRCLE-4, LUDHIANA, AAYAKAR BHAWAN vs. ROCKMAN INDUSTRIES LIMITED, -

In the result order of CIT(A) is sustained as passed and the appeal of the Revenue is partly allowed for statistical purposes

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

19,11,875 27,10,09,614 Since, it could be clearly decipherable from the table that the assessee has got sufficient own funds, we hereby hold that no disallowance under Rule 8D(2)(ii) is required and decline to interfere in the order of the Ld. CIT(A). In respect of the disallowance of interest u/s14A, for the purpose