M/S GLAXOSMITHKLINE ASIA PVT. LTD.,GURGAON vs. DCIT, CHANDIGARH

In the result, the appeal of the assessee is partly allowed

246 0.34 Tvpherix 653 0.64 38.33 (b) The appellant had discontinued its business of manufacture of Aquafresh Tooth Brush and the said product was withdrawn from the market. Therefore, the entire inventory of Aquafresh Tooth Brush, related raw material and packing material were withdrawn and destroyed. Accordingly, the appellant has written off stock of Aquafresh toothbrush amounting

THE BALDUHAK CO-OPERATIVE AGRICULTURE SERVICE SOCIETY LTD.,HAMIRPUR vs. ITO, WARD, HAMIRPUR

Bench: Us Are That The Assessee Is A Cooperative

246/-, the assessee has claimed Rs 50,25,234/- under section 80P(2)(d) of the Act. The AO noted that said claim under section 80P(2)(d) consist of dividend income from KHRIBHCO, IFFCO and HAFED, interest income on deposits placed with HDFC Bank, ICICI Bank, AXIS Bank and Yamuna Nagar Central Co-operative Bank Ltd and referring

THE MANDEBAR PRIMARY AGRICULTURE CO-OPERATIVE SOCIETY LIMITED,YAMUNANAGAR vs. ITO, WARD -5, YAMUNA NAGAR

Bench: Us Are That The Assessee Is A Primary Agricultural Cooperative Society Engaged In Providing Credit Facilities To Its Members For Agricultural Operations & Procurement Of Fertilizers For The Purpose Of Supplying It To Its Members. 3.1 During The Year Under Consideration, It Filed Its Return Of Income Claiming Deduction Under Section 80P Amounting To Rs. 40,87,123/- & Which Includes Deduction Amounting To Rs. 29,44,171/- In Respect Of Interest Income On Deposits Placed With Yamunanagar District Central Cooperative Bank.

246/-, the assessee has claimed Rs 50,25,234/- under section 80P(2)(d) of the Act. The AO noted that said claim under section 80P(2)(d) consist of dividend income from KHRIBHCO, IFFCO and HAFED, interest income on deposits placed with HDFC Bank, ICICI Bank, AXIS Bank and Yamuna Nagar Central Co-operative Bank Ltd and referring

SH. GURINDER MAKKAR,LUDHIANA vs. DCIT, CC-3, LUDHIANA

In the result, the appeal of the assessee is disposed off in light of aforesaid directions

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

section 32 r.w.s 43(1) of the Act. 4. Being aggrieved, the assessee carried the matter in appeal before the Ld. CIT(A) who has since sustained the said findings of the AO. 5. Against the said findings and the direction of the Ld. CIT(A), the assessee is in appeal before us. 6. During the course of hearing

HYCRON ELECTRONICS vs. DY.COMMISSIONER OF INCOME TAX,

Appeal of the Revenue is dismissed and appeal of the assessee is allowed

Bench: Smt. Diva Singh & Dr. B.R.R. Kumar

section 271(1)(c) levied upon the assessee on incorrect claim for deduction was not justifiable as the same was on account of change of law and therefore, a matter of bona fide mistake..,.. (iii) Shree Krishna Electricals 2009-23 VST249 (SC) Penalty cannot be levied merely because exemption claimed by 'A'was disallowed. (iv) The Hon'ble Supreme Court

DCIT, PARWANOO vs. M/S HYCRON ELECTRONICS, SOLAN

Appeal of the Revenue is dismissed and appeal of the assessee is allowed

Bench: Smt. Diva Singh & Dr. B.R.R. Kumar

section 271(1)(c) levied upon the assessee on incorrect claim for deduction was not justifiable as the same was on account of change of law and therefore, a matter of bona fide mistake..,.. (iii) Shree Krishna Electricals 2009-23 VST249 (SC) Penalty cannot be levied merely because exemption claimed by 'A'was disallowed. (iv) The Hon'ble Supreme Court

VARDHMAN TEXTILES LTD.,,LUDHIANA vs. JCIT,, LUDHIANA

In the result appeals of the Assessee and the Revenue are partly allowed

Bench: Smt. Diva Singh & Dr. B.R.R. Kumarassessment Year: 2002-03

disallowing the same under section 14A of Income Tax Aqt. / 8. That the Ld. CIT(A) has erred in law and on the facts while confirming the action of assessing officer for treating the Sales Tax subsidy/Exemption amounting to Rs.4,60,68,415/- as a revenue receipt. 9. That the Ld. CIT(A) has erred

ACIT, LUDHIANA vs. M/S VARDHMAN TEXTILES LTD., LUDHIANA

In the result appeals of the Assessee and the Revenue are partly allowed

Bench: Smt. Diva Singh & Dr. B.R.R. Kumarassessment Year: 2002-03

disallowing the same under section 14A of Income Tax Aqt. / 8. That the Ld. CIT(A) has erred in law and on the facts while confirming the action of assessing officer for treating the Sales Tax subsidy/Exemption amounting to Rs.4,60,68,415/- as a revenue receipt. 9. That the Ld. CIT(A) has erred

ACIT,, LUDHIANA vs. M/S VARDHMAN TEXTILES LTD.,, LUDHIANA

In the result appeals of the Assessee and the Revenue are partly allowed

Bench: Smt. Diva Singh & Dr. B.R.R. Kumarassessment Year: 2002-03

disallowing the same under section 14A of Income Tax Aqt. / 8. That the Ld. CIT(A) has erred in law and on the facts while confirming the action of assessing officer for treating the Sales Tax subsidy/Exemption amounting to Rs.4,60,68,415/- as a revenue receipt. 9. That the Ld. CIT(A) has erred

ACIT,, LUDHIANA vs. M/S VARDHMAN TEXTILES LTD.,, LUDHIANA

In the result appeals of the Assessee and the Revenue are partly allowed

Bench: Smt. Diva Singh & Dr. B.R.R. Kumarassessment Year: 2002-03

disallowing the same under section 14A of Income Tax Aqt. / 8. That the Ld. CIT(A) has erred in law and on the facts while confirming the action of assessing officer for treating the Sales Tax subsidy/Exemption amounting to Rs.4,60,68,415/- as a revenue receipt. 9. That the Ld. CIT(A) has erred

ACIT, LUDHIANA vs. VARDHMAN TEXTILES LTD., LUDHIANA

In the result appeals of the Assessee and the Revenue are partly allowed

Bench: Smt. Diva Singh & Dr. B.R.R. Kumarassessment Year: 2002-03

disallowing the same under section 14A of Income Tax Aqt. / 8. That the Ld. CIT(A) has erred in law and on the facts while confirming the action of assessing officer for treating the Sales Tax subsidy/Exemption amounting to Rs.4,60,68,415/- as a revenue receipt. 9. That the Ld. CIT(A) has erred

M/S VARDHMAN TEXTILES LTD.,LUDHIANA vs. ACIT, LUDHIANA

In the result appeals of the Assessee and the Revenue are partly allowed

Bench: Smt. Diva Singh & Dr. B.R.R. Kumarassessment Year: 2002-03

disallowing the same under section 14A of Income Tax Aqt. / 8. That the Ld. CIT(A) has erred in law and on the facts while confirming the action of assessing officer for treating the Sales Tax subsidy/Exemption amounting to Rs.4,60,68,415/- as a revenue receipt. 9. That the Ld. CIT(A) has erred

M/S VARDHMAN TEXTILES LTD.,,LUDHIANA vs. ADDL. CIT,, LUDHIANA

In the result appeals of the Assessee and the Revenue are partly allowed

Bench: Smt. Diva Singh & Dr. B.R.R. Kumarassessment Year: 2002-03

disallowing the same under section 14A of Income Tax Aqt. / 8. That the Ld. CIT(A) has erred in law and on the facts while confirming the action of assessing officer for treating the Sales Tax subsidy/Exemption amounting to Rs.4,60,68,415/- as a revenue receipt. 9. That the Ld. CIT(A) has erred

VARDHMAN TEXTILE LTD.,LUDHIANA vs. ACIT, LUDHIANA

In the result appeals of the Assessee and the Revenue are partly allowed

Bench: Smt. Diva Singh & Dr. B.R.R. Kumarassessment Year: 2002-03

disallowing the same under section 14A of Income Tax Aqt. / 8. That the Ld. CIT(A) has erred in law and on the facts while confirming the action of assessing officer for treating the Sales Tax subsidy/Exemption amounting to Rs.4,60,68,415/- as a revenue receipt. 9. That the Ld. CIT(A) has erred

THE HARYANA STATE CO-OPERATIVE AGRICULTURE AND RURAL DEVELOPMENT,PANCHKULA vs. DCIT, CIRCLE, PANCHKULA, PANCHKULA

Appeal is allowed

Bench: BEFORE: SHRI. RAJPALYADAV (Vice President), SHRI. KRINWANT SAHAY (Accountant Member)

246 ITR 363 (MP HC). (xii) Indian And Eastern Newspaper (SC) 119 ITR 0996 dtd. 31.08.1979 4. The Ld. AO issued a notice under Section 148 on 30/03/2021 with the approval of the Ld. Pr. CIT, Panchkula, citing reason to believe that income had escaped assessment; however, the assessee's return filed on 29/04/2021 was not e-verified and hence

THE HARYANA STATE CO-OPERATIVE AGRICULTURE AND RURAL DEVELOPMENT,PANCHKULA vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE,, PANCHKULA

Appeal is allowed

Bench: BEFORE: SHRI. RAJPALYADAV (Vice President), SHRI. KRINWANT SAHAY (Accountant Member)

246 ITR 363 (MP HC). (xii) Indian And Eastern Newspaper (SC) 119 ITR 0996 dtd. 31.08.1979 4. The Ld. AO issued a notice under Section 148 on 30/03/2021 with the approval of the Ld. Pr. CIT, Panchkula, citing reason to believe that income had escaped assessment; however, the assessee's return filed on 29/04/2021 was not e-verified and hence

THE HARYANA STATE CO-OPERATIVE AGRICULTURE AND RURAL DEVELOPMENT,PANCHKULA vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE, PANCHKULA

Appeal is allowed

Bench: SHRI. RAJPALYADAV (Vice President), SHRI. KRINWANT SAHAY (Accountant Member)

246 ITR 363 (MP HC). (xii) Indian And Eastern Newspaper (SC) 119 ITR 0996 dtd. 31.08.1979 4. The Ld. AO issued a notice under Section 148 on 30/03/2021 with the approval of the Ld. Pr. CIT, Panchkula, citing reason to believe that income had escaped assessment; however, the assessee's return filed on 29/04/2021 was not e-verified and hence

ASSISTANT COMMISSIONER OF INCOME TAX, PANCHKULA CIRCLE, PANCHKULA, PANCHKULA vs. THE HARYANA STATE CO-OPERATIVE AGRICULTURE AND RURAL DEVELOPMENT, PANCHKULA

Appeal is allowed

Bench: SHRI. RAJPALYADAV (Vice President), SHRI. KRINWANT SAHAY (Accountant Member)

246 ITR 363 (MP HC). (xii) Indian And Eastern Newspaper (SC) 119 ITR 0996 dtd. 31.08.1979 4. The Ld. AO issued a notice under Section 148 on 30/03/2021 with the approval of the Ld. Pr. CIT, Panchkula, citing reason to believe that income had escaped assessment; however, the assessee's return filed on 29/04/2021 was not e-verified and hence

THE HARYANA STATE CO-OPERATIVE AGRICULTURE AND RURAL DEVELOPMENT,PANCHKULA vs. DCIT,CIRCLE, PANCHKULA, PANCHKULA

Appeal is allowed

Bench: BEFORE: SHRI. RAJPALYADAV (Vice President), SHRI. KRINWANT SAHAY (Accountant Member)

246 ITR 363 (MP HC). (xii) Indian And Eastern Newspaper (SC) 119 ITR 0996 dtd. 31.08.1979 4. The Ld. AO issued a notice under Section 148 on 30/03/2021 with the approval of the Ld. Pr. CIT, Panchkula, citing reason to believe that income had escaped assessment; however, the assessee's return filed on 29/04/2021 was not e-verified and hence