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 under section 14A of the Act for Rs 44,08,23,002/-. In this the AO has wrongly mentioned

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 under section 14A of the Act at\nRs.14,15,10,213/-, the calculations are given at page no. 22 & 23

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 of Rs. 2,23

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)

section 14A which deals with the expenditure incurred in relation to income not includible in total income. The Ld. AR in respect of Ground No. 2(supra) have submitted in writing by way written submission as under: 1. The calculation of disallowance made by the Ld. AO is as under: Particulars Amount Under Rule 8D(2)(ii) 1455246 Under Rule

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)

section 14A which deals with the expenditure incurred in relation to income not includible in total income. The Ld. AR in respect of Ground No. 2(supra) have submitted in writing by way written submission as under: 1. The calculation of disallowance made by the Ld. AO is as under: Particulars Amount Under Rule 8D(2)(ii) 1455246 Under Rule

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)

section 14A which deals with the expenditure incurred in relation to income not includible in total income. The Ld. AR in respect of Ground No. 2(supra) have submitted in writing by way written submission as under: 1. The calculation of disallowance made by the Ld. AO is as under: Particulars Amount Under Rule 8D(2)(ii) 1455246 Under Rule

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)

section 14A which deals with the expenditure incurred in relation to income not includible in total income. The Ld. AR in respect of Ground No. 2(supra) have submitted in writing by way written submission as under: 1. The calculation of disallowance made by the Ld. AO is as under: Particulars Amount Under Rule 8D(2)(ii) 1455246 Under Rule

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)

section 14A which deals with the expenditure incurred in relation to income not includible in total income. The Ld. AR in respect of Ground No. 2(supra) have submitted in writing by way written submission as under: 1. The calculation of disallowance made by the Ld. AO is as under: Particulars Amount Under Rule 8D(2)(ii) 1455246 Under Rule

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)

section 14A which deals with the expenditure incurred in relation to income not includible in total income. The Ld. AR in respect of Ground No. 2(supra) have submitted in writing by way written submission as under: 1. The calculation of disallowance made by the Ld. AO is as under: Particulars Amount Under Rule 8D(2)(ii) 1455246 Under Rule

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)

section 14A which deals with the expenditure incurred in relation to income not includible in total income. The Ld. AR in respect of Ground No. 2(supra) have submitted in writing by way written submission as under: 1. The calculation of disallowance made by the Ld. AO is as under: Particulars Amount Under Rule 8D(2)(ii) 1455246 Under Rule

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)

section 14A which deals with the expenditure incurred in relation to income not includible in total income. The Ld. AR in respect of Ground No. 2(supra) have submitted in writing by way written submission as under: 1. The calculation of disallowance made by the Ld. AO is as under: Particulars Amount Under Rule 8D(2)(ii) 1455246 Under Rule

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, LUDHAINA vs. HOMELAND CITY PROJECT LTD, NEW DELHI

In the result, the appeal of the Revenue is dismissed

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

section 37; (i) Amount of any liability of a contingent nature." [page 29 of order u/s 143(1) of the Act]. The key submission of the AR is that this amount has not been debited in the P&L account. Therefore, it cannot be disallowed u/s 37 of the Act. It was further argued that it was a mistake

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 VARDHMAN TEXTILES LIMITED,LUDHIANA vs. DCIT, C-1, LUDHIANA

In the result, appeals of the Assessee are partly allowed whereas the Cross appeals of the Revenue are dismissed

Bench: SHRI. AAKASH DEEP JAIN (Vice President), SHRI. SHRI. KRINWANT SAHAY (Accountant Member)

section 80IC on miscellaneous income of Rs. 61,52,573/- alongwith some other income, considering that these incomes were not derived from eligible business / industrial undertaking. The Ld CIT(A) disallowed the deduction on certain other incomes and miscellaneous income except commission / brokerage received from shipping company. The miscellaneous receipt of Rs. 61,52,573/- comprises of Rebate & Discount

DCIT, C-1, LUDHIANA vs. M/S VARDHMAN TEXTILES LIMITED, LUDHIANA

In the result, appeals of the Assessee are partly allowed whereas the Cross appeals of the Revenue are dismissed

Bench: SHRI. AAKASH DEEP JAIN (Vice President), SHRI. SHRI. KRINWANT SAHAY (Accountant Member)

section 80IC on miscellaneous income of Rs. 61,52,573/- alongwith some other income, considering that these incomes were not derived from eligible business / industrial undertaking. The Ld CIT(A) disallowed the deduction on certain other incomes and miscellaneous income except commission / brokerage received from shipping company. The miscellaneous receipt of Rs. 61,52,573/- comprises of Rebate & Discount

M/S VARDHMAN TEXTILES LIMITED,LUDHIANA vs. ACIT, C-1, LUDHIANA

In the result, appeals of the Assessee are partly allowed whereas the Cross appeals of the Revenue are dismissed

Bench: SHRI. AAKASH DEEP JAIN (Vice President), SHRI. SHRI. KRINWANT SAHAY (Accountant Member)

section 80IC on miscellaneous income of Rs. 61,52,573/- alongwith some other income, considering that these incomes were not derived from eligible business / industrial undertaking. The Ld CIT(A) disallowed the deduction on certain other incomes and miscellaneous income except commission / brokerage received from shipping company. The miscellaneous receipt of Rs. 61,52,573/- comprises of Rebate & Discount

VARDHMAN TEXTILES LIMITED,LUDHIANA vs. ACIT-CIRCLE-1, LUDHIANA

In the result, appeals of the Assessee are partly allowed whereas the Cross appeals of the Revenue are dismissed

Bench: SHRI. AAKASH DEEP JAIN (Vice President), SHRI. SHRI. KRINWANT SAHAY (Accountant Member)

section 80IC on miscellaneous income of Rs. 61,52,573/- alongwith some other income, considering that these incomes were not derived from eligible business / industrial undertaking. The Ld CIT(A) disallowed the deduction on certain other incomes and miscellaneous income except commission / brokerage received from shipping company. The miscellaneous receipt of Rs. 61,52,573/- comprises of Rebate & Discount

ACIT,CIRCLE-1, LUDHIANA vs. M/S VARDHMAN TEXTILES LTD., LUDHIANA

In the result, appeals of the Assessee are partly allowed whereas the Cross appeals of the Revenue are dismissed

Bench: SHRI. AAKASH DEEP JAIN (Vice President), SHRI. SHRI. KRINWANT SAHAY (Accountant Member)

section 80IC on miscellaneous income of Rs. 61,52,573/- alongwith some other income, considering that these incomes were not derived from eligible business / industrial undertaking. The Ld CIT(A) disallowed the deduction on certain other incomes and miscellaneous income except commission / brokerage received from shipping company. The miscellaneous receipt of Rs. 61,52,573/- comprises of Rebate & Discount

KHANNA INFRABUILD PRIVATE LIMITED ,LUDHIANA vs. THE DEPUTY COMMISSIONER OF INCOME TAX (CENTRAL CIRCLE)-2 LUDHIANA, LUDHIANA

In the result, the ground of appeal is allowed

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

disallowed. 21. It is, thus, seen that none of the conditions of the provisions of section 35AD of the Act has been violated at the hands of the assessee. 22. The provisions of this section stand explained in the Memorandum explaining the provisions of Finance Bill, 2010, wherein, it has been noted that "In view of the high employment potential