SH. ARVAIL SINGH,SIRSA vs. PCIT, ROHTAK

In the result, all the above appeals filed by the respective assessee’s are dismissed

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

section 2 of section 56, clause(iv) in section 57 and clause (b) in Section 145A w.e.f. 01.04.2010. From the assessment year 2010-11 onwards, the amount of compensation or enhanced compensation is taxable as "income from other sources" after allowing deduction of a sum equal to 50% of such income in the year of receipt The Hon'ble Apex

M/S GANESH DASS HUF,SIRSA vs. PCIT, ROHTAK

In the result, all the above appeals filed by the respective assessee’s are dismissed

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

section 2 of section 56, clause(iv) in section 57 and clause (b) in Section 145A w.e.f. 01.04.2010. From the assessment year 2010-11 onwards, the amount of compensation or enhanced compensation is taxable as "income from other sources" after allowing deduction of a sum equal to 50% of such income in the year of receipt The Hon'ble Apex

SH. KASHMIR SINGH SANDHA,SIRSA vs. PCIT, ROHTAK

In the result, all the above appeals filed by the respective assessee’s are dismissed

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

section 2 of section 56, clause(iv) in section 57 and clause (b) in Section 145A w.e.f. 01.04.2010. From the assessment year 2010-11 onwards, the amount of compensation or enhanced compensation is taxable as "income from other sources" after allowing deduction of a sum equal to 50% of such income in the year of receipt The Hon'ble Apex

DHUNI CHAND HUF,SIRSA vs. PCIT, ROHTAK

In the result, all the above appeals filed by the respective assessee’s are dismissed

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

section 2 of section 56, clause(iv) in section 57 and clause (b) in Section 145A w.e.f. 01.04.2010. From the assessment year 2010-11 onwards, the amount of compensation or enhanced compensation is taxable as "income from other sources" after allowing deduction of a sum equal to 50% of such income in the year of receipt The Hon'ble Apex

SH. RANDHIR SINGH,SIRSA vs. PCIT ROHTAK, ROHTAK

In the result, all the above appeals filed by the respective assessee’s are dismissed

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

section 2 of section 56, clause(iv) in section 57 and clause (b) in Section 145A w.e.f. 01.04.2010. From the assessment year 2010-11 onwards, the amount of compensation or enhanced compensation is taxable as "income from other sources" after allowing deduction of a sum equal to 50% of such income in the year of receipt The Hon'ble Apex

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

In the result, appeal of the Department is dismissed and the appeal of the assessee is allowed

Bench: SHRI. RAJPAL YADAV (Vice President), SHRI. KRINWANT SAHAY, AM आयकर अपील सं. / ITA No. 588/Chd/2018 निर्धारण वर्ष / Assessment Years : 2012-13 The DCIT C-V, Ludhiana बनाम M/s Hero Cycles Ltd. Hero Nagar, G.T. Road Ludhiana स्थायी लेखा सं./PAN NO: AAACH4073P अपीलार्थी/Appellant प्रत्यर्थी / Respondent आयकर अपील सं. / ITA No. 473/Chd/2018 निर्धारण वर्ष / Assessment Years : 2012-13 M/s Hero Cycles Ltd. Hero Nagar, G.T. Road Ludhiana बनाम The ACIT C-V, Ludhiana स्थायी लेखा सं./PAN NO: AAACH4073P

section 14A all investments the income of which is exempt whether accrued or not are to be considered for working average investments. 28. We have heard the rival submissions and material available on record. This ground of appeal of the assessee against the disallowance

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

28,068+2,34,36,86,413)/2\nRs. 1,83,23,07,240\nDisallowance @ 0.5% Rs. 91,61,536/- as against Rs. 2,94,48,717/- suo-\nmoto disallowed made by assessee.\nThe appellant is entitled to the following relief:-\ni) Suo-moto disallowance made under rule 8D(2)(ii) Rs. 1,02,82,974\nii) Suo-moto disallowance

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)

28. It has been submitted that the Tribunal, in its order dated 28.8.2014, passed in ITA No.746/CHD/2012, has held that the disallowance should be made on working out the average rate of interest; that this direction has rightly been followed by the learned CIT(A). 29. We have heard the parties on this issue and have perused the material brought

DCIT, CIRCLE, PATIALA vs. M/S PUNJAB STATE POWER CORPORATION LTD., PATIALA

In the result, ground no. 1 & 3 of the Revenue’s appeal is allowed and ground no

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

28(i). On dissection of this provision, the following ingredients are noted. There should be `profits and gains'; such profits and gains should be `of any business or profession'; such business or profession should be `carried on by the assessee at any time during the previous year'. Thus the primary condition is that the amount sought to be included under

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)

Disallowed Rs. 37,50,000 (bonus) and Rs. 45,28,750 (ex-gratia) as they were paid on October 28, 2016, after the return filing due date (October 17, 2016). The Commissioner upheld this, dismissing the appellant’s plea for allowance in A.Y. 2017-18 as outside the appeal’s scope. (ii) Rs. 5,78,199 under Section

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 made by the ssessing Officer towards grants / contribution o f R s . 78,11,91,600/- for Industrial & Infrastructure Development Projects/ Scheme, ignoring the aspect that the grants are directly related to the business of the Assessee Corporation and are to be considered for the purpose of taxability within the meaning of Section 28

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)

28,62,30,134/-“ 2.17 The aforesaid assessment order of Ld. AO is dt. 30/12/2018. Proceedings before CIT(A) 3. The assessee being aggrieved by the aforesaid assessment order prefers first appeal in terms of Section 246A of the Act before CIT(A) who by the impugned order dt. 04/10/2023 has allowed the appeal of the assessee by placing reliance

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)

28,62,30,134/-“ 2.17 The aforesaid assessment order of Ld. AO is dt. 30/12/2018. Proceedings before CIT(A) 3. The assessee being aggrieved by the aforesaid assessment order prefers first appeal in terms of Section 246A of the Act before CIT(A) who by the impugned order dt. 04/10/2023 has allowed the appeal of the assessee by placing reliance

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)

28,62,30,134/-“ 2.17 The aforesaid assessment order of Ld. AO is dt. 30/12/2018. Proceedings before CIT(A) 3. The assessee being aggrieved by the aforesaid assessment order prefers first appeal in terms of Section 246A of the Act before CIT(A) who by the impugned order dt. 04/10/2023 has allowed the appeal of the assessee by placing reliance

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)

28,62,30,134/-“ 2.17 The aforesaid assessment order of Ld. AO is dt. 30/12/2018. Proceedings before CIT(A) 3. The assessee being aggrieved by the aforesaid assessment order prefers first appeal in terms of Section 246A of the Act before CIT(A) who by the impugned order dt. 04/10/2023 has allowed the appeal of the assessee by placing reliance

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)

28,62,30,134/-“ 2.17 The aforesaid assessment order of Ld. AO is dt. 30/12/2018. Proceedings before CIT(A) 3. The assessee being aggrieved by the aforesaid assessment order prefers first appeal in terms of Section 246A of the Act before CIT(A) who by the impugned order dt. 04/10/2023 has allowed the appeal of the assessee by placing reliance

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)

28,62,30,134/-“ 2.17 The aforesaid assessment order of Ld. AO is dt. 30/12/2018. Proceedings before CIT(A) 3. The assessee being aggrieved by the aforesaid assessment order prefers first appeal in terms of Section 246A of the Act before CIT(A) who by the impugned order dt. 04/10/2023 has allowed the appeal of the assessee by placing reliance

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)

28,62,30,134/-“ 2.17 The aforesaid assessment order of Ld. AO is dt. 30/12/2018. Proceedings before CIT(A) 3. The assessee being aggrieved by the aforesaid assessment order prefers first appeal in terms of Section 246A of the Act before CIT(A) who by the impugned order dt. 04/10/2023 has allowed the appeal of the assessee by placing reliance