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.

250 of the Income Tax Act, 1961. The appeal before us is filed under section 253 of the Income Tax Act, as amended from time to time. The Respondent is a Cooperative Bank. 2. The Appellant Income Tax Department has raised following grounds of appeal in the Form No. 36. i) Whether on the facts and in the circumstances

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

The appeal is partly allowed

Bench: SHRI. LALIET KUMAR (Judicial Member)

disallowance relying on CBDT Circular No. 10/DV/2013 and the decision in CIT v. Crescent Export Syndicate (2013) 33 taxmann.com 250 (Cal), which held that Section

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

250\nThus, total disallowance works out to Rs. 31,25,91,729/-.\nLess: Disallowance already made by the assessee: Rs. 22,86,36,462/-\nDisallowance to be made: Rs. 8,39,55,267/-\n41. The A.O. made various disallowance of interest under section

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 250 is bad both in the eye of law and on facts. 2. i) On the facts and circumstances of the case, the NFAC has erred both on facts and in law in confirming the addition of Rs. 13,26,09,358/- made by the AO estimating the notional interest income on the loans and advances and capital advances

DCIT, C-1(1), CHANDIGARH vs. M/S STYLAM INDUSTRIES LTD., CHANDIGARH

In the result, the Department’s appeal in for assessment year

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

section 250(6) by the Ld. Commissioner of Income Tax (Appeals)-I, Chandigarh in Appeal No. 105 85/16-17 dated 15.01.2019 is contrary to law and facts of the case. 2. That in the facts and circumstances of the case, the Ld. Commissioner of Income Tax (Appeals) gravelly erred in sustaining the disallowance

M/S STYLAM INDUSTRIES LTD.,CHANDIGARH vs. DCIT, C-1(1), CHANDIGARH

In the result, the Department’s appeal in for assessment year

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

section 250(6) by the Ld. Commissioner of Income Tax (Appeals)-I, Chandigarh in Appeal No. 105 85/16-17 dated 15.01.2019 is contrary to law and facts of the case. 2. That in the facts and circumstances of the case, the Ld. Commissioner of Income Tax (Appeals) gravelly erred in sustaining the disallowance

M/S STYLAM INDUSTRIES LTD.,CHANDIGARH vs. DCIT, C-1(1), CHANDIGARH

In the result, the Department’s appeal in for assessment year

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

section 250(6) by the Ld. Commissioner of Income Tax (Appeals)-I, Chandigarh in Appeal No. 105 85/16-17 dated 15.01.2019 is contrary to law and facts of the case. 2. That in the facts and circumstances of the case, the Ld. Commissioner of Income Tax (Appeals) gravelly erred in sustaining the disallowance

DCIT, C-1(1), CHANDIGARH vs. M/S STYLAM INDUSTRIES LTD., CHANDIGARH

In the result, the Department’s appeal in for assessment year

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

section 250(6) by the Ld. Commissioner of Income Tax (Appeals)-I, Chandigarh in Appeal No. 105 85/16-17 dated 15.01.2019 is contrary to law and facts of the case. 2. That in the facts and circumstances of the case, the Ld. Commissioner of Income Tax (Appeals) gravelly erred in sustaining the disallowance

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)

250 by the Ld. Commissioner of Income Tax (Appeals), National Faceless Appeal Centre, Delhi in Appeal No. ITBA/NFAC/S/250/2023-24/1063489078 (1) is contrary to law and facts of the case. 2. (a) That in the facts and circumstances of the case, ld. Commissioner of Income Tax (Appeals) gravelly erred in upholding the addition

DCIT-CC-III, LUDHIANA vs. M/S LAXMI ENERGY & FOODS LTD.,, CHANDIGARH

In the result, the appeal of the Revenue is dismissed

Bench: Shri A.D. Jain & Dr Krinwant Sahayआयकर अपील सं./ Ita No. 33/Chd/2021 "नधा"रण वष" / Assessment Year: 2011-12 The Dcit, Vs. M/S Laxmi Energy & Foods बनाम Ltd., Central Circle-Iii, Sco 18-19, Sector 9-D, Ludhiana Ludhiana "थायी लेखा सं./Pan No: Aaacl3147J अपीलाथ"/ Appellant ""यथ"/ Repsondent ( Hybrid Mode ) "नधा"रती क" ओर से/Assessee By : Sh. Sudhir Sehgal, Advocate राज"व क" ओर से/ Revenue By : Shri Rohit Sharma, Cit Dr सुनवाई क" तार"ख/Date Of Hearing : 06.06.2024 उदघोषणा क" तार"ख/Date Of Pronouncement : 10.07.2024 आदेश/Order Per Dr. Krinwant Sahay, A.M.:

section 14A is triggered for disallowance of expenditure incurred which is relatable to tax exempt income even though no tax exempt income under the Act has been earned during a particular year?" 4. The Appellant craves leave to add or amend the grounds of appeal on or before is heard and disposed off. 2. Appeal on Ground

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)

250(6) of the Act. The first appellate proceedings were conducted under section 246A of the Act. 2. Factual Matrix Proceedings before Ld. AO 2.1 The assessee filed its return of income on 06/01/2012 showing income of Rs. 21,67,28,910/-. The assessee is engaged in manufacturing of Auto Parts and Washing Machine Parts. 2.2 The assessment in this

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)

250(6) of the Act. The first appellate proceedings were conducted under section 246A of the Act. 2. Factual Matrix Proceedings before Ld. AO 2.1 The assessee filed its return of income on 06/01/2012 showing income of Rs. 21,67,28,910/-. The assessee is engaged in manufacturing of Auto Parts and Washing Machine Parts. 2.2 The assessment in this

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)

250(6) of the Act. The first appellate proceedings were conducted under section 246A of the Act. 2. Factual Matrix Proceedings before Ld. AO 2.1 The assessee filed its return of income on 06/01/2012 showing income of Rs. 21,67,28,910/-. The assessee is engaged in manufacturing of Auto Parts and Washing Machine Parts. 2.2 The assessment in this

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)

250(6) of the Act. The first appellate proceedings were conducted under section 246A of the Act. 2. Factual Matrix Proceedings before Ld. AO 2.1 The assessee filed its return of income on 06/01/2012 showing income of Rs. 21,67,28,910/-. The assessee is engaged in manufacturing of Auto Parts and Washing Machine Parts. 2.2 The assessment in this

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)

250(6) of the Act. The first appellate proceedings were conducted under section 246A of the Act. 2. Factual Matrix Proceedings before Ld. AO 2.1 The assessee filed its return of income on 06/01/2012 showing income of Rs. 21,67,28,910/-. The assessee is engaged in manufacturing of Auto Parts and Washing Machine Parts. 2.2 The assessment in this

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)

250(6) of the Act. The first appellate proceedings were conducted under section 246A of the Act. 2. Factual Matrix Proceedings before Ld. AO 2.1 The assessee filed its return of income on 06/01/2012 showing income of Rs. 21,67,28,910/-. The assessee is engaged in manufacturing of Auto Parts and Washing Machine Parts. 2.2 The assessment in this

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)

250(6) of the Act. The first appellate proceedings were conducted under section 246A of the Act. 2. Factual Matrix Proceedings before Ld. AO 2.1 The assessee filed its return of income on 06/01/2012 showing income of Rs. 21,67,28,910/-. The assessee is engaged in manufacturing of Auto Parts and Washing Machine Parts. 2.2 The assessment in this

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)

250(6) of the Act. The first appellate proceedings were conducted under section 246A of the Act. 2. Factual Matrix Proceedings before Ld. AO 2.1 The assessee filed its return of income on 06/01/2012 showing income of Rs. 21,67,28,910/-. The assessee is engaged in manufacturing of Auto Parts and Washing Machine Parts. 2.2 The assessment in this

DCIT, C-1(1) , CHANDIGARH vs. M/S FIDELITY INFORMATION SERVICES INDIA PVT. LTD., CHANDIGARH

In the result, the cross-objection filed by the assessee is dismissed

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

disallowed the foreign travel expenses which clearly form part of the operating expenses and the cost base and on which the assessee has reported the revenues after considering the mark up of 16.60%. Such an action on part of the AO is clearly in breach of letter and spirit of the APA which has been entered into by CBDT