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

section 10 of the Act is\ndirected to be deleted on the basis of same reasoning and logic as\nadopted by the Honourable IT AT, Chandigarh in the case of the\nassessee company itself for the Assessment Years 2008-09, 2009-10 and\n2010-11 while deleting the identical addition in these years. In the\nresult, the grounds No. 1

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, LUDHAINA vs. HOMELAND CITY PROJECT LTD, NEW DELHI

In the result, the appeal of the Revenue is dismissed

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

1) of the Act and it has been stated that the disallowance is being made on account of "Amounts debited to P&L account, to the extent disallowable under Section 37

M/S PUNJAB TOURISM DEVELOPMENET CORPORATION LIMITED,CHANDIGARH vs. DCIT,CIRCLE-1(1), CHANDIGARH

Appeal of the assessee is allowed

Bench: Ao)

section 37(1) of the Act, expenditure should be incurred for the purpose of the business which is carried on by the assessee in the previous year and profits of which are to be computed and assessed. However, during the appellate proceedings, assessee has stressed only to justify that the claimed expenditure cannot be disallowed

M/S PUNJAB TOURISM DEVELOPMENET CORPORATION LIMITED,CHANDIGARH vs. DCIT,CIRCLE-1(1), CHANDIGARH

Appeal of the assessee is allowed

Bench: Ao)

section 37(1) of the Act, expenditure should be incurred for the purpose of the business which is carried on by the assessee in the previous year and profits of which are to be computed and assessed. However, during the appellate proceedings, assessee has stressed only to justify that the claimed expenditure cannot be disallowed

M/S PUNJAB TOURISM DEVELOPMENET CORPORATION LIMITED,CHANDIGARH vs. DCIT,CIRCLE-1(1), CHANDIGARH

Appeal of the assessee is allowed

Bench: Ao)

section 37(1) of the Act, expenditure should be incurred for the purpose of the business which is carried on by the assessee in the previous year and profits of which are to be computed and assessed. However, during the appellate proceedings, assessee has stressed only to justify that the claimed expenditure cannot be disallowed

M/S PUNJAB TOURISM DEVELOPMENET CORPORATION LIMITED,CHANDIGARH vs. DCIT,CIRCLE-1(1), CHANDIGARH

Appeal of the assessee is allowed

Bench: Ao)

section 37(1) of the Act, expenditure should be incurred for the purpose of the business which is carried on by the assessee in the previous year and profits of which are to be computed and assessed. However, during the appellate proceedings, assessee has stressed only to justify that the claimed expenditure cannot be disallowed

DCIT, CIRCLE, YAMUNANAGAR vs. M/S SYMBIOSIS PHARMACEUTICALS PVT. LTD., YAMUNANAGAR

In the result, appeal is dismissed

Bench: The Due Date As Prescribed In Section 139(1) Of The I.T. Act, 1961 Whereas The Assessee Has Filed Its Return Of Income After The Due Date.

Section 80IC of the Act has been held to be allowable to the assessee and has been so allowed by the Tribunal. The Department’s appeal against the said Tribunal order for assessment year 2013-14 has attained finality. There is no change whatsoever in the facts and circumstances for the year under consideration. Therefore, the said CBDT ITA 326/CHD/2019

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; and that hence, the assessee will not be entitled to claim deduction of the interest on the borrowings to the extent those are diverted to sister concerns or other persons without interest. 35.01. In 'Bright Enterprises (P) Ltd. Versus Commissioner of Income Tax, Jalandhar (Punjab

HARYANA URBAN DEVELOPMENT AUTHORITY,PANCHKULA, HARYANA vs. PRINCIPAL COMMISSIONER OF INCOME TAX, PANCHKULA , HARYANA

In the result, the appeal filed by the assessee is dismissed

Section 37(1), which disallows expenditure incurred for any purpose that is an offence or prohibited by law (penalty). The payment

SANJEEV KUMAR KATHURIA,YAMUNA NAGAR vs. INCOME TAX OFFICER WARD 1 , YAMUNANAGAR

In the result, the appeal of the assessee is allowed

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

disallowance under section 40A(3) of the Act amounting to Rs. 12,09,560/-. 4. Subsequently, the assessment records were called for and examined by the Ld. PCIT, Panchkula and a show cause under section 263 dt. 12/12/2023 was issued by the Ld. PCIT and the contents thereof read as under: “Perusal of assessment record reveals that you had sold

M/S STEEL STRIPS INFRASTRUCTURES LTD.,CHANDIGARH vs. ACIT, CC-II, CHANDIGARH

In the result, appeal of the Assessee is partly allowed

Bench: SHRI. RAJPAL YADAV (Vice President), SHRI. KRINWANT SAHAY, AM आयकर अपील सं. / ITA No. 732 /Chd/2018 निर्धारण वर्ष / Assessment Year : 2014-15 M/s Steel Strips Ltd. बनाम The Asst. CIT Central Circle-II Chandigarh SCO 49-50, Sector 26, Chandigarh स्थायी लेखा सं./PAN NO: AACCS5077J प्रत्यर्थी / Respondent अपीलार्थी/Appellant निर्धारिती की ओर से / Assessee by : Shri Ashwani Kumar, C.A, Ms. Muska Garg, C.A राजस्व की ओर से / Revenue by : Shri Ved Parkash Kalia, Sr. DR सुनवाई की तारीख/ Date of Hea

disallowance of deduction of bad debts written off being in the nature of irrecoverable advance as business loss u/s 37(1) read with section

M/S JAIN AMAR CLOTHING PVT. LTD.,LUDHIANA vs. DCIT, CC-III, LUDHIANA

In the result, the ground no

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

37,11,61,260/- by bringing to tax the whole of the share premium amounting to Rs. 28,26,46,250/-. 4. Being aggrieved, the assessee carried the matter in appeal before the Ld. CIT(A) who has since sustained the addition and against the said findings and the directions of the Ld. CIT(A), the assessee is in appeal

DCIT, C-1 (EXEMPTIONS), CHANDIGARH vs. THE INSTITUTION OF CIVIL ENGINEERS SOCIETY, LUDHIANA

In the result, appeal of the Revenue is dismissed

1)\nwere issued and served upon the assessee.\n5.2 The 1d. AO has analyzed the activities of the assessee\nand found that assessee has extended the undue benefit to\ntwo individuals, who fellwithin the ambit of individuals'\ncontained in sub-section (3) to Section 13. Hence, payments\ngiven to these two individuals namely, Kalpana Thakur and\nShubhdeep have been disallowed

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE, PATIALA vs. PUNJAB STATE POWER CORPORATION LIMITED, PATIALA

In the result, both the appeals filed by the Revenue are partly allowed

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

disallowed as a deduction in the hands of the employer. 10.6 Applicability. These amendments take effect from 1-4-2012, and will, accordingly, apply in relation to the assessment year 2012-13 and subsequent years." 33. Further, we refer to the provisions of Section 43B(b) which provides that: “43B. Notwithstanding anything contained in any other provision of this

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE, PATIALA, PATIALA vs. PUNJAB STATE POWER CORPORATION LIMITED, PATIALA

In the result, both the appeals filed by the Revenue are partly allowed

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

disallowed as a deduction in the hands of the employer. 10.6 Applicability. These amendments take effect from 1-4-2012, and will, accordingly, apply in relation to the assessment year 2012-13 and subsequent years." 33. Further, we refer to the provisions of Section 43B(b) which provides that: “43B. Notwithstanding anything contained in any other provision of this

KANDI FRIENDS EDUCATIONAL TRUST,ROPAR vs. DEPUTY COMMISSION OF INCOME TAX, CL. 1, EXEMPTION, CHANDIGARH

In the result, both the appeals are allowed

Bench: Shri Rajpal Yadav & Shri Krinwant Sahay

37,80,000 Disallowance of Travelling Expenses 3,11,689 Disallowance of Interest on Advances related to 12,09,345 AME Course Disallowance of Revenue Expenditure on AME 14,23,348 Course Non-utilisation of accumulated Funds (FY 2013- 2,90,55,422 14) Excess income over expenditure 1,65,94,302 Total Taxable income

KANDI FRIENDS EDUCATIONAL TRUST,ROPAR vs. DEPUTY COMMISSIONER OF INCOME TAX, CHANDIGARH

In the result, both the appeals are allowed

Bench: Shri Rajpal Yadav & Shri Krinwant Sahay

37,80,000 Disallowance of Travelling Expenses 3,11,689 Disallowance of Interest on Advances related to 12,09,345 AME Course Disallowance of Revenue Expenditure on AME 14,23,348 Course Non-utilisation of accumulated Funds (FY 2013- 2,90,55,422 14) Excess income over expenditure 1,65,94,302 Total Taxable income

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 by the AO under section 37(1) of the Act. 3. In this regard, briefly the facts of the case

M/S MITTAL TRADERS,SANGRUR vs. THE ACIT, CENTRAL CIRCLE, PATIALA

In the result, appeal of the Assessee is partly allowed

Bench: The Appeal Is Finally Heard Or Disposed Off.

section 37(1) of the Act does not curtail or prevent an assessee from incurring an expenditure which he feels and wants to incur for the purpose of business. Various courts have held that as long as the expenditure incurred is "wholly and exclusively" for the purpose of business, the Assessing Officer cannot by applying of his own mind, disallow