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

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

disallowance @ 10% of deduction u/s 80IC in respect of Tahliwal Unit on account some alleged indirect benefits derived from Phillaur Unit by Tahliwal Unit by applying provisions of sub section 8 & 10 to section 801 A. In this regard " it is submitted that no such benefits have been derived by Talhliwal Unit. Moreover the ^provisions of sub section

ACIT, LUDHIANA vs. M/S MRS. BECTORS FOOD SPECIALTIES PVT. LTD., LUDHIANA

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

disallowance @ 10% of deduction u/s 80IC in respect of Tahliwal Unit on account some alleged indirect benefits derived from Phillaur Unit by Tahliwal Unit by applying provisions of sub section 8 & 10 to section 801 A. In this regard " it is submitted that no such benefits have been derived by Talhliwal Unit. Moreover the ^provisions of sub section

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

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

disallowance @ 10% of deduction u/s 80IC in respect of Tahliwal Unit on account some alleged indirect benefits derived from Phillaur Unit by Tahliwal Unit by applying provisions of sub section 8 & 10 to section 801 A. In this regard " it is submitted that no such benefits have been derived by Talhliwal Unit. Moreover the ^provisions of sub section

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

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

disallowance @ 10% of deduction u/s 80IC in respect of Tahliwal Unit on account some alleged indirect benefits derived from Phillaur Unit by Tahliwal Unit by applying provisions of sub section 8 & 10 to section 801 A. In this regard " it is submitted that no such benefits have been derived by Talhliwal Unit. Moreover the ^provisions of sub section

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

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

disallowance @ 10% of deduction u/s 80IC in respect of Tahliwal Unit on account some alleged indirect benefits derived from Phillaur Unit by Tahliwal Unit by applying provisions of sub section 8 & 10 to section 801 A. In this regard " it is submitted that no such benefits have been derived by Talhliwal Unit. Moreover the ^provisions of sub section

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

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

disallowance @ 10% of deduction u/s 80IC in respect of Tahliwal Unit on account some alleged indirect benefits derived from Phillaur Unit by Tahliwal Unit by applying provisions of sub section 8 & 10 to section 801 A. In this regard " it is submitted that no such benefits have been derived by Talhliwal Unit. Moreover the ^provisions of sub section

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

section 14A of the Act and as per law. That subsequently the AO, after giving due opportunity of hearing to the assessee, had worked out the disallowance by applying the mathematical formula provided in Rule 8D of the Income Tax Rule, 1962 for the said purpose, making disallowance of expenses for the impugned assessment years as under: Asstt. Year Disallowance

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 of interest expenditure under section 36(1)(iii) of the Act. The facts germane to the issue are identical to the issue raised in ground no.5 of the appeal for AY 2011-12. 26. The ld. DR admitted that the issue raised in grounds of appeal for AY 2014- 15 are identical to the issues raised in appeal

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 of interest expenditure under section 36(1)(iii) of the Act. The facts germane to the issue are identical to the issue raised in ground no.5 of the appeal for AY 2011-12. 26. The ld. DR admitted that the issue raised in grounds of appeal for AY 2014- 15 are identical to the issues raised in appeal

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1), CHANDIGARH vs. ESSIX BIOSCIENCES LIMITED, MANIMAJRA

In the result, the appeal is dismissed and the

Bench: SHRI A.D.JAIN (Vice President), SHRI KRINWANT SAHAY (Accountant Member)

27,54,3000/- in quoted and unquoted shares was made by the AO and dividend income of Rs.7,12,442/- was claimed as exempt u/s 10(34) of the Act. It has been contended that the AO has made the disallowance by applying the provisions of ITA 347/CHD/2024 & C.O. 17/CHD/2024 A.Y.2018-19 8 Rule 8D(ii) and (iii). It has also

ITO, W-2, BARNALA vs. THE TRUCK OPERATOR UNION, BARNALA

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

Bench: Smt.Diva Singh & Shri Vikram Singh Yadavthe Ito बनाम The Truck Operator Union, Ward-2, Barnala Dhanaula Road, Barnala "थायी लेखा सं./Pan No: Aaaat6497M

disallowance under section 40A(3) was increased from 20% to 100%, however, Rule 6DD(j) was not reintroduced in original form to provide for exceptional and unavoidable circumstances rather it was restricted to payment by way of salary to employees and thereafter, by virtue of latest amendment in year 2008 to payments made on a day on which the banks

RAMJEE CONCRETES PVT.LTD.,MOHALI vs. ITO-WARD-6(3), CHANDIGARH

The appeals are disposed of in the aforesaid terms

Bench: Shri N.K. Saini & Shri Sudhanshu Srivastavaआयकर अपील सं./ Ita No. 205/Chd/2021 "नधा"रण वष" / Assessment Year : 2019-20 Ramjee Concretes Private Limited, The Ito, बनाम #1238.Sector 91, Ward 6(3), Mohali, Punjab Chandigarh "थायी लेखा सं./Pan No: Aafcr9457E अपीलाथ"/Appellant ""यथ"/Respondent

disallowed in the assessments for the years 1962-63 and onwards. 3. The Board desire that the changed position may please be brought to the notice of all the Income Tax Officers so that further litigation on this account may be avoided.[Board's F. No.91/58/66-ITJ(19), dated 18-5- 1967.] 27. The CBDT Circular, is binding upon the authorities

ACIT, LUDHIANA vs. M/S AVON CYCLES LTD., LUDHIANA

In the result, the appeal filed by the Revenue is

Bench: Ms.Diva Singh & Ms. Annapurna Guptathe A.C.I.T., Vs. M/S Avon Cycles Ltd., Circle-5, G.T. Road, Ludhiana. Ludhiana. Pan: Aabca4140R & C.O.No.6/Chd/2016 In M/S Avon Cycles Ltd., Vs. The A.C.I.T., G.T. Road, Circle-5, Ludhiana. Ludhiana. Pan: Aabca4140R (Appellant) (Respondent)

disallowance of interest under section 36(1)(iii) of the Act on account of the same was warranted having been decided in the preceding years itself in favour of the assessee. As for the investment made in the impugned year amounting to Rs.1.21 crores, the Ld. counsel for the assessee stated that it had enough own funds for making

DCIT, C-5, LUDHIANA vs. M/S HERO CYCLES LTD., LUDHIANA

In the result, appeal of the Department is dismissed and the Cross

disallowance under section 14A of the Act at Rs. 3,27,74,176/-, the calculations are given at page no. 15 & 16 of the aforesaid

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)

disallowance, confirming Section 40(a)(ia) applicability. Interest under Sections 234A, 234B, and 234C was levied and upheld as consequential. General grounds were not adjudicated. The appeal was dismissed on March 27

M/S CONTINENTAL ENGINEERING & POWER PVT.LTD.,MOHALI vs. ADIT,CPC/ACIT,CIRCLE-6(1), CHANDIGARH

In the result, both the appeals of the assessees are allowed

section 143(1) r.w.s.154 and as such the disallowance made is illegal, unjustified and arbitrary. 3. That the Ld. Commissioner of Income tax(Appeals) has failed to consider the decisions of the various High Court and Jurisdictional Tribunal wherein it has been held that delayed payments made before the filing of returns are deductible and as such ignoring the decisions

DCIT, CIRCLE, PANCHKULA vs. M/S HARYANA VIDYUT PRASARAN NIGAM LTD., PANCHKULA

In the result, appeal is dismissed

Bench: Shri Krinwant Sahay & Shri Paresh M. Joshi

disallowance made under section 14A r/w rule 8D of the Income tax Rules. 1.1 The appellant corporation held following investments as on 31.03.2017; SR. NO. PARTICULARS AMOUNT (RS.) 1 Investment in UHBVNL 5,46,98,55,000 2 Investment in DHBVNL 4,37,27

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)

disallowed under section 36(1)(iii) of the Act. 26. The ld. CIT(DR), on the other hand, has sought to place strong reliance on the impugned order in this regard. It has been contended that as rightly observed by the authorities below, the assessee has not offered commensurate interest income on the loans and advances made to various parties

SH. JAI TEG SINGH,MOHALI vs. ITO, MOHALI

In the result, the appeal of the assessee is allowed

Bench: Shri Sanjay Garg & Ms. Annapurna Guptashri Jai Teg Singh, Vs. The Income Tax Officer, # 2431, Sector 79, Ward-6(2), Mohali. Mohali. Pan: Arjps5960R

disallowance under section 40A(3) was increased from 20% to 100%, however, Rule 6DD(j) was not reintroduced in original form to provide for exceptional and unavoidable circumstances rather it was restricted to payment by way of salary to employees and thereafter, by virtue of latest amendment in year 2008 to payments made on a day on which the banks