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)

10 the expenses incurred on Research & Development as per the provisions of section 35(2AB) of the Act is given with the intention of the Government to boost up the Research & Development facility in India. Therefore, the allocation of expenses incurred on R&D activity for the purpose of reducing the weighed deduction, in our view, is not justified

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)

10 the expenses incurred on Research & Development as per the provisions of section 35(2AB) of the Act is given with the intention of the Government to boost up the Research & Development facility in India. Therefore, the allocation of expenses incurred on R&D activity for the purpose of reducing the weighed deduction, in our view, is not justified

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)

10 the expenses incurred on Research & Development as per the provisions of section 35(2AB) of the Act is given with the intention of the Government to boost up the Research & Development facility in India. Therefore, the allocation of expenses incurred on R&D activity for the purpose of reducing the weighed deduction, in our view, is not justified

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)

10 the expenses incurred on Research & Development as per the provisions of section 35(2AB) of the Act is given with the intention of the Government to boost up the Research & Development facility in India. Therefore, the allocation of expenses incurred on R&D activity for the purpose of reducing the weighed deduction, in our view, is not justified

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)

10 the expenses incurred on Research & Development as per the provisions of section 35(2AB) of the Act is given with the intention of the Government to boost up the Research & Development facility in India. Therefore, the allocation of expenses incurred on R&D activity for the purpose of reducing the weighed deduction, in our view, is not justified

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)

10 the expenses incurred on Research & Development as per the provisions of section 35(2AB) of the Act is given with the intention of the Government to boost up the Research & Development facility in India. Therefore, the allocation of expenses incurred on R&D activity for the purpose of reducing the weighed deduction, in our view, is not justified

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)

10 the expenses incurred on Research & Development as per the provisions of section 35(2AB) of the Act is given with the intention of the Government to boost up the Research & Development facility in India. Therefore, the allocation of expenses incurred on R&D activity for the purpose of reducing the weighed deduction, in our view, is not justified

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)

10 the expenses incurred on Research & Development as per the provisions of section 35(2AB) of the Act is given with the intention of the Government to boost up the Research & Development facility in India. Therefore, the allocation of expenses incurred on R&D activity for the purpose of reducing the weighed deduction, in our view, is not justified

THE HP STATE CO-OPERATIVE MARKETING & CONSUMERS FEDERATION LIMITED,SHIMLA vs. DCIT, CIRCLE, SHIMLA

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

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

disallowance under section 14A r.w. Rule 8D of the Income Tax Rules and said failure on the part of the assessee constitute willfull under reporting of the income to the extent of Rs. 22,93,002/- and thereafter, he recorded his satisfaction that it is a fit case for levy of penalty under section 270A for under reporting of income

SHIVA SPECIALITY YARNS LTD.,LUDHIANA vs. THE DY. COMMISSIONER OF INCOME TAX, CIRCLE-I, LUDHIANA

Appeal of the assessee is allowed for

Bench: Shri Rajpal Yadav & Shri Vikram Singh Yadav

270A of the Income Tax Act, 1961 on 23.03.2022 (Pg ) on the ground that assessee's return of loss was reduced after making additions of Rs.19,47,47,811/-, as per the provisions of section 80. The provisions of section 80 are concerned with carry forward of losses which the assessee has not claimed in the next years

GEETA SHARMA,SUNAM vs. PRINCIPAL COMMISSIONER OF INCOME TAX , PATIALA

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

270A of the Income-tax Act, 1961 are initiated for under reporting of income.” 10. Consequently vide para 9 of aforesaid order, total income of the assessee was computed as below: “9. Subject to the foregoing discussion, the total income of the assessee shall be computed as under: Total Income as per ITR Rs. 14,65,910/- Add: Income from

FUJIYAMA POWER SYSTEMS,PARWANOO vs. ITO PARWANOO, PARWANOO

In the result, the appeal filed by the assessee is allowed, and the penalty of Rs

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

Disallowance of interest of Rs. 15,300/-; (iii) Addition of Rs. 35,62,089/- on account of delayed payment of employees’ contribution to PF under section 2(24)(x) read with section 36(1)(va); (iv) Addition of Rs. 4,79,88,545/- on account of mismatch of income as per Form 26AS and ITR. 2.1 On the basis

KULDEEP SINGH,SAS NAGAR, PUNJAB vs. INCOME TAX OFFICER WARD-2(5), CHANDIGARH, CHANDIGARH

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

disallow expenditure proportionately out of agricultural income and your agricultural income will be reduced and treated as income from other source. You are once again requested to furnish detail of expenditure with documentary evidence as requisitioned vide questionnaire dated 26.8.2019 along with bills and vouchers". 8. That In response to this the assessee furnished reply dated 4.11.2019 which

ASTT. COMMISSIONER OF INCOME TAX, CIRCLE-4, LUDHIANA, AAYAKAR BHAWAN vs. WARYAM STEEL CASTING PRIVATE LIMITED, KANGANWAL ROAD

In the result, appeal of the assessee is allowed and the Cross appeal of the Revenue is dismissed

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

270A, 271B, and 272A(1)(d) were initiated for under-reporting income, failure to file an audit report, and non-compliance with statutory notices, respectively. Interest under sections 234A, 234B, and 234C was also charged. 4. Against the order of the Ld. AO the assessee went in appeal before the Ld. CIT(A). The Ld. CIT(A) in the impugned

WARYAM STEEL CASTINGS PRIVATE LIMITED,LUDHIANA vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-4, LUDHIANA

In the result, appeal of the assessee is allowed and the Cross appeal of the Revenue is dismissed

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

270A, 271B, and 272A(1)(d) were initiated for under-reporting income, failure to file an audit report, and non-compliance with statutory notices, respectively. Interest under sections 234A, 234B, and 234C was also charged. 4. Against the order of the Ld. AO the assessee went in appeal before the Ld. CIT(A). The Ld. CIT(A) in the impugned

M/S UFV INDIA GLOBAL EDUCATION (SOCIETY),CHANDIGARH vs. DCIT, EXEMPTION CIRCLE-1, CHANDIGARH

In the result, appeal is allowed

Bench: Shri A.D. Jain & Shri Krinwant Sahayआयकर अपील सं./ Ita No. 516/Chd/2023 "नधा"रण वष" / Assessment Year : 2018-19 M/S Ufv India Global Vs. The Dcit Exemption, Circle-1, Education, बनाम Chandigarh Ggd Sanatan Dharma College, Ector 32-C, Chandigarh (U.T.) "थायी लेखा सं./Pan No: Aabcu7691M अपीलाथ"/ Appellant ""यथ"/ Repsondent ( Physical Hearing ) "नधा"रती क" ओर से/Assessee By : Shri Sudhir Sehgal, Advocate राज"व क" ओर से/ Revenue By : Smt. Kusum Bansal, Cit Dr सुनवाई क" तार"ख/Date Of Hearing : 13.08.2024 उदघोषणा क" तार"ख/Date Of Pronouncement : 20.09.2024

270A(9) of the Act whereas the claim made by the assessee was evident from its ITR and later voluntary disclosure made during the course of assessment proceedings. 516--Chd-2023 – M/s UFV India Global Education, Chandigarh 3 2. During the proceedings before us, ld. Counsel for the Assessee has filed a brief synopsis bringing out the chronology of events

JASVIR SINGH CHANDI,PATIALA PUNJAB vs. ACIT CIRCLE PATIALA, PUNJAB, PATIALA PUNJAB

In the result, the appeal of the assessee is allowed

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

270A) No changes proposed provision for Under-reporting - @50% of tax penalty Misreporting - @200% of tax (Under-reporting/ Misreporting income is normally difference between returned income and assessed income) Provisions for TAX (Section 115BBE) TAX (Section 115BBE) Flat rate of tax @ 30% + Flat rate of tax taxation & penalty of surcharge+cess (No expense, @60%+surgcharge @ 25% of deductions

TYNOR ORTHOTICS PRIVATE LIMITED,MOHALI vs. ASSTT. COMMISSIONER OF INCOME TAX, CIRCLE 6(1), MOHALI, MOHALI

In the result, appeal of the Assessee is partly allowed

Bench: SHRI. LALIET KUMAR (Judicial Member), SHRI. MANOJ KUMAR AGGARWAL (Accountant Member)

disallowances of Rs.85,00,000 excess salary and Rs.3,88,300/- software expenses. Penalty proceedings under Section 270A were initiated for under-reporting and misreporting of income, and interest was charged under Sections 234A, 234B, and 234C. A demand notice under Section 156 was also issued. 5. Against the order of the Ld. AO the assessee went in appeal before

CT EDUCATIONAL SOCIETY,JALANDHAR vs. DCIT, CHANDIGARH

In the result, the appeal filed by the assessee is allowed for statistical purposes

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

10. That the appellant craves the leave to add, modify, amend or delete any of the grounds of appeal at the time of hearing and all the above grounds are without prejudice to each other. 3. Briefly, the facts of the case are that the assessee, CT EDUCATIONAL SOCIETY , a registered TRUST , filed its Return of Income on 28/10/2017 declaring