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)

disallowance of Miscellaneous / other expenses and consequent reduction of 80IC deductions. 16. Per contra Ld. AR of the assesse has contended before us that ld. AO for purpose of calculation of deduction under section 80IC ought not to have reduced “cash discount earned on the purchases” made for the purpose of manufacturing which was recorded under the head “miscellaneous income

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)

disallowance of Miscellaneous / other expenses and consequent reduction of 80IC deductions. 16. Per contra Ld. AR of the assesse has contended before us that ld. AO for purpose of calculation of deduction under section 80IC ought not to have reduced “cash discount earned on the purchases” made for the purpose of manufacturing which was recorded under the head “miscellaneous income

DY. COMMISSIONER OF INCOME TAX, CIRCLE-4, LUDHIANA, - vs. ROCKMAN INDUSTRIES LTD, -

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)

disallowance of Miscellaneous / other expenses and consequent reduction of 80IC deductions. 16. Per contra Ld. AR of the assesse has contended before us that ld. AO for purpose of calculation of deduction under section 80IC ought not to have reduced “cash discount earned on the purchases” made for the purpose of manufacturing which was recorded under the head “miscellaneous income

DCIT CIRCLE-4, LUDHIANA, LUDHIANA vs. ROCKMAN INDUSTRIES LTD, LUDHIANA

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)

disallowance of Miscellaneous / other expenses and consequent reduction of 80IC deductions. 16. Per contra Ld. AR of the assesse has contended before us that ld. AO for purpose of calculation of deduction under section 80IC ought not to have reduced “cash discount earned on the purchases” made for the purpose of manufacturing which was recorded under the head “miscellaneous income

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)

disallowance of Miscellaneous / other expenses and consequent reduction of 80IC deductions. 16. Per contra Ld. AR of the assesse has contended before us that ld. AO for purpose of calculation of deduction under section 80IC ought not to have reduced “cash discount earned on the purchases” made for the purpose of manufacturing which was recorded under the head “miscellaneous income

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)

disallowance of Miscellaneous / other expenses and consequent reduction of 80IC deductions. 16. Per contra Ld. AR of the assesse has contended before us that ld. AO for purpose of calculation of deduction under section 80IC ought not to have reduced “cash discount earned on the purchases” made for the purpose of manufacturing which was recorded under the head “miscellaneous income

DY. COMMISSIONER OF INCOME TAX, AAYAKAR BHAWAN vs. ROCKMAN INDUSTRIES LIMITED, FOCAL POINT

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)

disallowance of Miscellaneous / other expenses and consequent reduction of 80IC deductions. 16. Per contra Ld. AR of the assesse has contended before us that ld. AO for purpose of calculation of deduction under section 80IC ought not to have reduced “cash discount earned on the purchases” made for the purpose of manufacturing which was recorded under the head “miscellaneous income

THE SHAHABAD COOP. SUGAR MILLS,SHAHABAD vs. ACIT, CIRCLE, KURUKSHETRA

Bench: Us In Terms Of Section 253 Of The Income Tax Act, 1961. 2. The Assessee Being Aggrieved By The Order Of Ld. Cit(A) Dt. 11/03/2018 Which Is Hereinafter Referred To As The Impugned Order, Before This Tribunal In Form No. 36 Has Interalia Raised The Following Grounds Of Appeal:

Section u/s 271(l)(c) of the I.T. Act are attracted in this case for which penalty proceedings are initiated separately." The submissions made by the appellant have been clearly controverted by the A.O. in arriving at his conclusion. In the circumstances, I consider that the addition has been correctly made and confirm the same. This ground of appeal

DCIT, CC-III, LUDHIANA vs. M/S GANESHAY OVERSEAS INDUSTRIES LTD, CHANDIGARH

In the result the appeal of the Revenue is dismissed

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

disallowance under Section 14A of the Act cannot exceed the amount of exempt income earned by the assessee during the year. Reliance in this ITA 200

M/S GANESHAY OVERSEAS INDUSTRIES LTD.,CHANDIGARH vs. DCIT, CC-1, CHANDIGARH

In the result the appeal of the Revenue is dismissed

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

disallowance under Section 14A of the Act cannot exceed the amount of exempt income earned by the assessee during the year. Reliance in this ITA 200

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

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

disallowance for corresponding purchases, no addition could be made under Section 68 in as much as it is not in dispute that the creditors outstanding related to purchases and the trading results were accepted by the AO. We are, therefore, of the opinion that no substantial question of law arises for consideration in this case. The appeal is accordingly dismissed

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

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

disallowance for corresponding purchases, no addition could be made under Section 68 in as much as it is not in dispute that the creditors outstanding related to purchases and the trading results were accepted by the AO. We are, therefore, of the opinion that no substantial question of law arises for consideration in this case. The appeal is accordingly dismissed

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

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

disallowance for corresponding purchases, no addition could be made under Section 68 in as much as it is not in dispute that the creditors outstanding related to purchases and the trading results were accepted by the AO. We are, therefore, of the opinion that no substantial question of law arises for consideration in this case. The appeal is accordingly dismissed

AMAN THUKRAL,LUDHIANA vs. INCOME TAX OFFICER WARD 2(1), LUDHIANA , LUDHIANA

Accordingly, Additional Ground No. 1 is allowed for statistical

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

Disallowance of 25% of Salary and Wages 61. The assessee had debited salary expenses of Rs. 11,01,300/- and wages expenses of Rs. 41,27,200/-, aggregating to Rs. 52,28,500/-, in the Profit & Loss account. During the assessment proceedings, the Assessing Officer observed that out of the total salary and wages, an amount

THE HP STATE CO-OPERATIVE MARKETING & CONSUMERS FEDERATION LIMITED,SHIMLA vs. DCIT, CIRCLE, SHIMLA

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

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

disallowance under section 14A r.w. Rule 8D of the Income Tax Rules and said failure on the part of the assessee constitute willfull under reporting of the income to the extent of Rs. 22,93,002/- and thereafter, he recorded his satisfaction that it is a fit case for levy of penalty under section 270A for under reporting of income

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)

disallowed from the gross dividend income received by the assessee. From the reasons recorded by the Assessing Officer, it was clear that the assessment was sought to be reopened merely on suspicion that the assessee might have utilized the borrowed fund for investment and that the assessee might have incurred expenditure for earning the dividend income. There was no material

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

JASVIR SINGH CHANDI,PATIALA PUNJAB vs. ACIT CIRCLE PATIALA, PUNJAB, PATIALA PUNJAB

In the result, the appeal of the assessee is allowed

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

200/- towards cash offered for taxation during survey from total business income and taxing the same under section 115BBE of the Act. 5. The Learned C1T(A) has erred in confirming the action of the Ld. AO "illegally disallowing