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

section 14 of the Act read Rule 8D of the Income Tax\nRules is deleted.\nThe aforesaid order has been followed by the ITAT in the\n Assessment Year's i.e. 2009-10 and 2011-12, we, therefore do not see\nany valid ground to interfere with the findings of the Ld. CIT (A) who\nrightly deleted the disallowance made

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)

194-I; (vi) "royalty" shall have the same meaning as in Explanation 2 to clause (vi) of sub- section (1) of section 9;” 6.6 Section 40(a)(ia) of the Act, provides for the disallowance

KANDI FRIENDS EDUCATIONAL TRUST,ROPAR vs. DEPUTY COMMISSIONER OF INCOME TAX, CHANDIGARH

In the result, both the appeals are allowed

Bench: Shri Rajpal Yadav & Shri Krinwant Sahay

Section 13(3) and 164(2) of the Income Tax Act. ITA Nos. 797 & 798/CHD/2024 A.Y.2014-15 & 2015-16 10 10.1 While impugning the disallowances, ld. counsel for the assessee took us through the Paper Book. He submitted that details of honorarium paid to different individuals in all these years is being placed on page 191 of the Paper Book, which

KANDI FRIENDS EDUCATIONAL TRUST,ROPAR vs. DEPUTY COMMISSION OF INCOME TAX, CL. 1, EXEMPTION, CHANDIGARH

In the result, both the appeals are allowed

Bench: Shri Rajpal Yadav & Shri Krinwant Sahay

Section 13(3) and 164(2) of the Income Tax Act. ITA Nos. 797 & 798/CHD/2024 A.Y.2014-15 & 2015-16 10 10.1 While impugning the disallowances, ld. counsel for the assessee took us through the Paper Book. He submitted that details of honorarium paid to different individuals in all these years is being placed on page 191 of the Paper Book, which

M/S DIN DAYAL PURSOTAM LAL,SIRSA vs. PR.CIT, ROHTAK

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

disallowed. The following decisions are also to the same effect : i) M/s Beauty Tex ITA 508/JP/2016 ii) Shri Heera Lal Chuni Lal Jain V ITO, order dated 01.01.2016, passed in ITA No.4547/Mum/2014 iii) M/s Imperial Imp & Exp V ITO, order dated 18.03.2016, passed in ITA No. 5427/Mum/2015 iv) ITO V Shri Sanjay V Dhruv, order dated

M/S DIN DAYAL PURSOTAM LAL,SIRSA vs. PR.CIT, ROHTAK

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

disallowed. The following decisions are also to the same effect : i) M/s Beauty Tex ITA 508/JP/2016 ii) Shri Heera Lal Chuni Lal Jain V ITO, order dated 01.01.2016, passed in ITA No.4547/Mum/2014 iii) M/s Imperial Imp & Exp V ITO, order dated 18.03.2016, passed in ITA No. 5427/Mum/2015 iv) ITO V Shri Sanjay V Dhruv, order dated

M/S DIN DAYAL PURSOTAM LAL,SIRSA vs. PR.CIT, ROHTAK

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

disallowed. The following decisions are also to the same effect : i) M/s Beauty Tex ITA 508/JP/2016 ii) Shri Heera Lal Chuni Lal Jain V ITO, order dated 01.01.2016, passed in ITA No.4547/Mum/2014 iii) M/s Imperial Imp & Exp V ITO, order dated 18.03.2016, passed in ITA No. 5427/Mum/2015 iv) ITO V Shri Sanjay V Dhruv, order dated

JANTA LAND PROMOTERS PVT LTD,MOHALI vs. THE PRINICIPAL COMMISSIONER OF INCOME TAX ,CHANDIGARH-1, CHANDIGARH

In the result, appeal of the Assessee is allowed

194-IA. The Ld. AR had also filed the written submission and has submitted the following legal objections in support of the case of the assessee: 1. Mechanical and Arbitrary Invocation of Section 263 Without Independent or Minimal Enquiry by the Ld. PCIT The Ld. PCIT has not undertaken any independent enquiry or verification, but has merely proceeded on assumptions

SH. CHANDRESH JAIN PROP. M/S PRABHAT THREAD (INDIA) ,LUDHIANA vs. ITO, WARD 2(1), LUDHIANA

In the result, the appeal of the Assessee is allowed

Bench: Shri A.D. Jain & Dr Krinwant Sahayआयकर अपील सं./ Ita No. 699/Chd/2022 "नधा"रण वष" / Assessment Year : 2020-21 Shri Chandresh Jain, Vs. The Ito, बनाम Prop. M/S Prabhat Thread Ward 2(1), (India), Gali No. 3, Mahavir Ludhiana Colony, G.T. Road, Sunder Nagar, Ludhiana 141008 "थायी लेखा सं./Pan No: Abdpj7395R अपीलाथ" ./ Appellant ""यथ" / Respondent

disallowance of such TDS, which was paid within stipulated time and has wrongly observed that it should be paid within seven days, which is as per clause 1(b) of rule 30. The TDS payable on contract and TDS on professional was paid on 29.07.2020 and as per the provisions of section 43B, if the assessee pays the amount

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)

194 Taxmann.com 57 (Del)  Krishna Cop Box (P) Ltd. (2015) 60 Taxmann.com 243 (All) The Ld. AR thus concluded that where the AO has made necessary enquiry and applied his mind, Commissioner or PCIT cannot exercise his revisional powers under section 263 of the Act. 13.9 The Ld. AR then contended that non passing of elaborate order does not tentamount

DEPUTY COMMISSIONER OF INCOME TAX, CC-1, LUDHIANA, LUDHIANA vs. SHREE GANESH EDIBLES PVT. LTD., KHANNA

The appeal stand dismissed

Bench: SHRI RAJPAL YADAV (Vice President), SHRI MANOJ KUMAR AGGARWAL (Accountant Member)

194 Taxman 43 (Delhi) has held as under: “Section 68 of the Income-tax Act, 1961 – Cash Credits – Assessment year 2001-02 – Whether though in section 68 proceedings, initial burden of proof lies on assessee, yet once he proves identity of creditors/share applicants by either furnishing their PAN numbers or income-tax assessment numbers and shows genuineness of transaction

DEPUTY COMMISSIONER OF INCOME TAX, CC-1, LUDHIANA, LUDHIANA vs. SHREE GANESH EDIBLES PVT. LTD., KHANNA

The appeal stand dismissed

Bench: SHRI RAJPAL YADAV (Vice President), SHRI MANOJ KUMAR AGGARWAL (Accountant Member)

194 Taxman 43 (Delhi) has held as under: “Section 68 of the Income-tax Act, 1961 – Cash Credits – Assessment year 2001-02 – Whether though in section 68 proceedings, initial burden of proof lies on assessee, yet once he proves identity of creditors/share applicants by either furnishing their PAN numbers or income-tax assessment numbers and shows genuineness of transaction

KEHAR SINGH,SIRSA vs. INCOME TAX OFFICER, WARD-1, SIRSA

In the result, the appeal of the assessee is allowed

Bench: The Tribunal.

194 /- reflected in Form 26AS, proportionate TDS credit was rightly allowed. The DR further submitted that in the absence of documentary evidence to show that the remaining receipts belonged to farmers, the lower authorities were justified in denying full credit. It was also argued that Circular No. 452 relates to the computation of turnover for audit under section 44AB

INCOME TAX OFFICER, CHANDIGARH vs. EMBEE FINANCIAL SERVICES LIMITED, CHANDIGARH

In the result, the appeal of the assessee is allowed

Bench: The Tribunal.

194 /- reflected in Form 26AS, proportionate TDS credit was rightly allowed. The DR further submitted that in the absence of documentary evidence to show that the remaining receipts belonged to farmers, the lower authorities were justified in denying full credit. It was also argued that Circular No. 452 relates to the computation of turnover for audit under section 44AB

MANINDER JEET SINGH V.P.O. UDHAMGARH,JAGADHRI,HARYANA vs. PRABHJOT KAUR,PCIT, PANCHKULA

In the result, all the above appeals filed by the respective assessee’s are dismissed

disallowance. 5. On examination of assessment records, the Ld. Pr. CIT noticed that during the relevant year, the assessee had received an interest amounting to Rs. 1,05,10,592/- on enhanced compensation arising from the acquisition of land. The Assessing Officer had treated the said receipt as exempt and did not bring the same to tax. 6. According

SH. RAM LAL,FATEHABAD vs. PR.CIT, ROHTAK

In the result, all the above appeals filed by the respective assessee’s are dismissed

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

disallowance. 5. On examination of assessment records, the Ld. Pr. CIT noticed that during the relevant year, the assessee had received an interest amounting to Rs. 1,05,10,592/- on enhanced compensation arising from the acquisition of land. The Assessing Officer had treated the said receipt as exempt and did not bring the same to tax. 6. According

KARTAR SINGH, FATEHABAD vs. PR. COMMISSIONER OF INCOME TAX, ROHTAK

In the result, all the above appeals filed by the respective assessee’s are dismissed

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

disallowance. 5. On examination of assessment records, the Ld. Pr. CIT noticed that during the relevant year, the assessee had received an interest amounting to Rs. 1,05,10,592/- on enhanced compensation arising from the acquisition of land. The Assessing Officer had treated the said receipt as exempt and did not bring the same to tax. 6. According

RAM NIWAS,FATEHABAD vs. INCOME TAX OFFICER, INCOME TAX OFFICE, SIRSA ROAD, INDUSTRIAL AREA, FATEHABAD

In the result, all the above appeals filed by the respective assessee’s are dismissed

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

disallowance. 5. On examination of assessment records, the Ld. Pr. CIT noticed that during the relevant year, the assessee had received an interest amounting to Rs. 1,05,10,592/- on enhanced compensation arising from the acquisition of land. The Assessing Officer had treated the said receipt as exempt and did not bring the same to tax. 6. According