ASSTT.COMMISSIONER OF INCOME TAX, LUDHIANA vs. M/S MRS.BECTORS FOOD SPECILTIES LTD, LUDHIANA

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

disallowed the claim of the assessee by holding that subsidy was granted on 27th Jan., 1995 while operations of the assessee commenced on 16th Nov., 1994. Reliance has been placed on judgment of the Hon'ble Supreme Court in Sahney Steel & Press Works Ltd. v. CLT (1997) 142 CTR (SO 261 : (1997) 228 ITR 253 (SO and judgment of this

ASSTT.COMMISSIONER OF INCOME TAX, LUDHIANA vs. M/S MRS.BECTORS FOOD SPECILTIES LTD, LUDHIANA

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

disallowed the claim of the assessee by holding that subsidy was granted on 27th Jan., 1995 while operations of the assessee commenced on 16th Nov., 1994. Reliance has been placed on judgment of the Hon'ble Supreme Court in Sahney Steel & Press Works Ltd. v. CLT (1997) 142 CTR (SO 261 : (1997) 228 ITR 253 (SO and judgment of this

ASSTT.COMMISSIONER OF INCOME TAX, LUDHIANA vs. M/S MRS.BECTORS FOOD SPECILTIES LTD, LUDHIANA

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

disallowed the claim of the assessee by holding that subsidy was granted on 27th Jan., 1995 while operations of the assessee commenced on 16th Nov., 1994. Reliance has been placed on judgment of the Hon'ble Supreme Court in Sahney Steel & Press Works Ltd. v. CLT (1997) 142 CTR (SO 261 : (1997) 228 ITR 253 (SO and judgment of this

ASSTT.COMMISSIONER OF INCOME TAX, LUDHIANA vs. M/S MRS.BECTORS FOOD SPECILTIES LTD, LUDHIANA

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

disallowed the claim of the assessee by holding that subsidy was granted on 27th Jan., 1995 while operations of the assessee commenced on 16th Nov., 1994. Reliance has been placed on judgment of the Hon'ble Supreme Court in Sahney Steel & Press Works Ltd. v. CLT (1997) 142 CTR (SO 261 : (1997) 228 ITR 253 (SO and judgment of this

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.

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 of the case and in law, the First Appellate Authority is justified in allowing the Appeal

M/S HARYANA STATE INDUSTRIAL & INFRASTRUCTURE DEVELOPMENT CORPN.,,PANCHKULA vs. ACIT,, PANCHKULA

In the result, all the above appeals of the assessee are

Bench: The Itat. That In The First Round The Itat Had Held The Provisions Of Section 14A Of The Act, For The Purposes Of Disallowing Expenses Relating To Exempt Income, Applicable In The Facts Of The Present Cases On Noting That The Assessee Had Earned Exempt Income In The Form

253 GUJHC……. Further it has been settled by the Apex Court that no disallowance on account of interest expense if borrowed funds have not been used for investments…….. Thus, the AO has erred in making disallowance on account of interest as per the provisions of Rule 8D(2(ii) of the Income Tax Act. Therefore, we request that the addition

DSM SINOCHEM PHARMACEUTICALS INDIA PRIVATE LIMITED,NAWANSHAHR vs. DCIT, CHANDIGARH

In the result, appeal of the assessee is partly allowed

Bench: Shri N.K. Saini, Vice- & Shri Vikas Awasthyआअसं. 253/ चंडीगढ़/2016(िन.व. 2011-12)

disallowance under section 40(a)(ia) is warranted. To support his contention, the ld. AR placed reliance on the decision of Hon’ble Calcutta High Court in the case of CIT vs. S.K. Tekriwal reported as 361 ITR 432. 12 आअसं.253

M/S DSM SINOCHEM PHARMACEUTICALS INDIA PVT. LTD. ,TOANSA vs. DCIT, C-1(1), CHANDIGARH

In the result, appeal of the assessee is partly allowed

Bench: Shri N.K. Saini, Vice- & Shri Vikas Awasthyआअसं. 253/ चंडीगढ़/2016(िन.व. 2011-12)

disallowance under section 40(a)(ia) is warranted. To support his contention, the ld. AR placed reliance on the decision of Hon’ble Calcutta High Court in the case of CIT vs. S.K. Tekriwal reported as 361 ITR 432. 12 आअसं.253

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

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)

253 of the Income Tax Act, 1961 (hereinafter referred to as Act) before this Tribunal. The Revenue is aggrieved by the order bearing No. ITBA/NFAC/S/250/2023- 24/1056753913(i) dt. 04/10/2023 dt. 04/10/2023 of Ld. CIT(A) which is hereinafter referred to as the “impugned order” . The impugned order is passed in the first appellate proceedings

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)

253 of the Income Tax Act, 1961 (hereinafter referred to as Act) before this Tribunal. The Revenue is aggrieved by the order bearing No. ITBA/NFAC/S/250/2023- 24/1056753913(i) dt. 04/10/2023 dt. 04/10/2023 of Ld. CIT(A) which is hereinafter referred to as the “impugned order” . The impugned order is passed in the first appellate proceedings

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)

253 of the Income Tax Act, 1961 (hereinafter referred to as Act) before this Tribunal. The Revenue is aggrieved by the order bearing No. ITBA/NFAC/S/250/2023- 24/1056753913(i) dt. 04/10/2023 dt. 04/10/2023 of Ld. CIT(A) which is hereinafter referred to as the “impugned order” . The impugned order is passed in the first appellate proceedings

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)

253 of the Income Tax Act, 1961 (hereinafter referred to as Act) before this Tribunal. The Revenue is aggrieved by the order bearing No. ITBA/NFAC/S/250/2023- 24/1056753913(i) dt. 04/10/2023 dt. 04/10/2023 of Ld. CIT(A) which is hereinafter referred to as the “impugned order” . The impugned order is passed in the first appellate proceedings

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)

253 of the Income Tax Act, 1961 (hereinafter referred to as Act) before this Tribunal. The Revenue is aggrieved by the order bearing No. ITBA/NFAC/S/250/2023- 24/1056753913(i) dt. 04/10/2023 dt. 04/10/2023 of Ld. CIT(A) which is hereinafter referred to as the “impugned order” . The impugned order is passed in the first appellate proceedings

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)

253 of the Income Tax Act, 1961 (hereinafter referred to as Act) before this Tribunal. The Revenue is aggrieved by the order bearing No. ITBA/NFAC/S/250/2023- 24/1056753913(i) dt. 04/10/2023 dt. 04/10/2023 of Ld. CIT(A) which is hereinafter referred to as the “impugned order” . The impugned order is passed in the first appellate proceedings

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)

253 of the Income Tax Act, 1961 (hereinafter referred to as Act) before this Tribunal. The Revenue is aggrieved by the order bearing No. ITBA/NFAC/S/250/2023- 24/1056753913(i) dt. 04/10/2023 dt. 04/10/2023 of Ld. CIT(A) which is hereinafter referred to as the “impugned order” . The impugned order is passed in the first appellate proceedings

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)

253 of the Income Tax Act, 1961 (hereinafter referred to as Act) before this Tribunal. The Revenue is aggrieved by the order bearing No. ITBA/NFAC/S/250/2023- 24/1056753913(i) dt. 04/10/2023 dt. 04/10/2023 of Ld. CIT(A) which is hereinafter referred to as the “impugned order” . The impugned order is passed in the first appellate proceedings

ACIT, CIRCLE, PANCHKULA vs. M/S HARYANA STATE INDUSTRIAL & INFRASTRUCTURE DEV. CORP. LTD., PANCHKULA

In the result, appeal of the Revenue is dismissed

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

disallowance under Section 36(l)(iii) of t h e Income Tax Act, 1961 is squarely covered in view of decision of the Hon'ble Supreme Court in the case of Commissioner of Income Tax Vs. Reliance Industries Limited, reported as [2019] 410 ITR 466 (SC) wherein the issue has been held to be a pure question of fact