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

3,36,99,161/-under section 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

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)

disallowable =Rs.85,00,000+ Rs.11,22,04,500 Rs.12,07,04,500/- Therefore, an amount of Rs.12,07,04,500/- is being added to the income of the assessee. Hence, I am satisfied that the assessee company has under reported income is in consequence of any misreported thereof for which the penalty provisions of section 270A

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)

disallowable =Rs.85,00,000+ Rs.11,22,04,500 Rs.12,07,04,500/- Therefore, an amount of Rs.12,07,04,500/- is being added to the income of the assessee. Hence, I am satisfied that the assessee company has under reported income is in consequence of any misreported thereof for which the penalty provisions of section 270A

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)

disallowable =Rs.85,00,000+ Rs.11,22,04,500 Rs.12,07,04,500/- Therefore, an amount of Rs.12,07,04,500/- is being added to the income of the assessee. Hence, I am satisfied that the assessee company has under reported income is in consequence of any misreported thereof for which the penalty provisions of section 270A

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)

disallowable =Rs.85,00,000+ Rs.11,22,04,500 Rs.12,07,04,500/- Therefore, an amount of Rs.12,07,04,500/- is being added to the income of the assessee. Hence, I am satisfied that the assessee company has under reported income is in consequence of any misreported thereof for which the penalty provisions of section 270A

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)

disallowable =Rs.85,00,000+ Rs.11,22,04,500 Rs.12,07,04,500/- Therefore, an amount of Rs.12,07,04,500/- is being added to the income of the assessee. Hence, I am satisfied that the assessee company has under reported income is in consequence of any misreported thereof for which the penalty provisions of section 270A

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)

disallowable =Rs.85,00,000+ Rs.11,22,04,500 Rs.12,07,04,500/- Therefore, an amount of Rs.12,07,04,500/- is being added to the income of the assessee. Hence, I am satisfied that the assessee company has under reported income is in consequence of any misreported thereof for which the penalty provisions of section 270A

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)

disallowable =Rs.85,00,000+ Rs.11,22,04,500 Rs.12,07,04,500/- Therefore, an amount of Rs.12,07,04,500/- is being added to the income of the assessee. Hence, I am satisfied that the assessee company has under reported income is in consequence of any misreported thereof for which the penalty provisions of section 270A

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)

disallowable =Rs.85,00,000+ Rs.11,22,04,500 Rs.12,07,04,500/- Therefore, an amount of Rs.12,07,04,500/- is being added to the income of the assessee. Hence, I am satisfied that the assessee company has under reported income is in consequence of any misreported thereof for which the penalty provisions of section 270A

M/S SHREE GANESH JEWELLERS LIMITED,LUDHIANA vs. ACIT, CIRCLE V(1), LUDHIANA

In the result, the appeal of the assessee is allowed

Bench: SHRI. VIKRAM SINGH YADAV (Accountant Member)

270A(2)(a) of the Act. 2. During the course of hearing, the Ld. AR taken us through the findings of the AO in the quantum proceeding wherein in Para 2 of the order passed under section 143(3) dt. 29/12/2019, the AO has made the addition of Rs. 2,00,000/- out of out of various expenses

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)

3,78,144.35/- was disallowed. b. Depreciation disallowed (difference between claimed and restricted amount) of Rs. 36,83,779.02/-. 3.3 The AO's order noted the assessee's non-compliant and casual attitude despite being given ample opportunities. The final Assessed Income was computed at Rs. 11,11,11,830/-. Penalty proceedings u/s 270A were initiated separately. 4. Against

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

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

DAYAL SINGH,VILL FATEHPUR PO BUREWALA vs. ITO WARD-1, PANCHKULA

In the result, the ground no

Bench: Shri Sanjay Gargआयकर अपील सं./ Ita No. 519/Chd/2024 "नधा"रण वष" / Assessment Year : 2017-18 बनाम Dayal Singh, The Ito, Vill Fatehpur Ward -1, Po Burewala Panchkula Distt.Amabla 134204 "थायी लेखा सं./Pan No: Acdps7697G अपीलाथ"/Appellant ""यथ"/Respondent ( Physical Hearing ) "नधा"रती क" ओर से/Assessee By : Shri Y.R. Saini, Adv. राज"व क" ओर से/ Revenue By : Sh. Vivek Vardhan, Jcit सुनवाई क" तार"ख/Date Of Hearing : 11.11.2024 उदघोषणा क" तार"ख/Date Of Pronouncement : 03.12.2024 आदेश/Order The Present Appeal Has Been Preferred By The Assessee Against The Order Dated 20.03.2024 Passed By The Ld. Addl. / Jcit(A), National Faceless Appeal Centre (Nfac), Delhi, For The Assessment Year 2017-18. 2. The Assess Ee In This Appeal H As Taken Foll Owing Groun Ds Of Appeal: 1 That In The F Acts & Circumstance Of The Case The Id. Addl/Jcit (A)-9 Mumbai Of Cit (A)( Nfac) Has Erred In Law By Placing Reliance On Judgement Of Hon'Ble Apex Court In The Case Of Maji Sinneman Vs Reddy

270A dated 26/08/2021 was received by him by post on 02/09/2021 f rom the National Faceless Assessment Centre, Delhi. 5. The Hon'ble Supreme court of India in Civil Appeal No 6315 of 2021 SLP© 27874 of 2018 in the Case of Dr. Yashwant Rao ITA No. 519-Chd-2024 Dayal Singh, Distt. Ambala , 3 Bhasker Rao Deshmukh — Appellate

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)

3) of the Act vide order dated 08.04.2021, whereby the total income was assessed at Rs. 11,72,22,004/- after making, inter alia, the following additions/disallowances: 2 (i) Addition of Rs. 2,55,000/- under section 68 of the Act on account of unsecured loan; (ii) Disallowance of interest of Rs. 15,300/-; (iii) Addition

SEEMA SALWAHAN,AMBALA CANTT. vs. INCOME TAX OFFICER, WARD-4, AMBALA CANTT

In the result, the appeal of the assessee is allowed

Bench: Shri Rajpal Yadav

3) of the Income Tax Act. The ld. AO has disallowed the claim of assessee under Section 54F amounting to Rs.28,92,978/-. The AO has initiated a penalty under Section 270A

BANUR BROTHER ,PATIALA vs. ITO-WARD-1, AMBALA

In the result appeal of the assessee is allowed as and by way of remand to Ld

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

270A of the Income Tax Act, 1961 for misreporting the income, and U/s 272A(1)(d) of the IT. Act for non compliance of notice sent to the assessee online electronically in E-proceedings facility through assessee's account in e- filing website of Income Tax Department.” 6. A bare and simple perusal of Ld. AO order clearly shows that

ACIT, CHANDIGARH vs. THE PUNJABI UNIVERSITY, PATIALA

In the result, appeal of the Revenue is dismissed

Bench: Shri Rajpal Yadav & Shri Manoj Kumar Aggarwal

270A and he ultimately imposed a penalty of Rs.18,07,78,378/- which is 200% of the taxable income. A.Y.2018-19 3 4. On appeal, ld. CIT(A) has deleted the penalty. 5. With the assistance of ld. Representative, we have gone through the record carefully. It is pertinent to observe that as per Section 11 and 12 of the Income

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