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

disallowance under section 14A of the Act at\nRs.14,15,10,213/-, the calculations are given at page no. 22 & 23 of the\naforesaid assessment order.\n6. Being aggrieved the assessee carried the matter to the Ld. CIT(A)\nand furnished the written submission which have been reproduced by\nthe Ld. CIT(A) at page no. 6 to 42

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

disallow the deduction claimed as expenditure in respect of which payment is not made by crossed cheque or crossed bank draft. The payment by crossed cheque or crossed bank draft is insisted on to enable the assessing authority to ascertain whether the payment was genuine or whether it was out of the income from undisclosed sources, The terms

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

In the result, we upheld the

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

42,84,338/- should have been capitalized. However the assessee has only capitalized a sum of Rs. 25,69,31,741/-, hence the difference amount of Rs. 17,73,52,597/- was disallowed under section

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

disallowable expenditure under Section 40(a)(ii) of the IT Act. Ms. Linhares was unable to state whether the Revenue has appealed this decision. Mr. Ramani, learned Senior Advocate submitted that his research did not suggest that any appeal was instituted by the Revenue against this decision, which is directly on the point and favours the Assessee. 31. Mr. Ramani

ASSISTANT COMMISSIONER OF INCOME TAX, PANCHKULA CIRCLE, PANCHKULA, PANCHKULA vs. HARYANA STATE COOPERATIVE SUPPLY AND MARKETING FEDERATION LTD, PANCHKULA

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

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

disallowance in that case was because the goods stored belonged to the assessee, while in the present case, third-party storage was involved. 8.1 The next issue arising for consideration pertains to the allowability of deduction under section 80P(2)(d) of the Income Tax Act, 1961 in respect of dividend and interest income earned by the assessee from

ASSISTANT COMMISSIONER OF INCOME TAX, PANCHKULA CIRCLE, PANCHKULA, PANCHKULA vs. HARYANA STATE COOPERATIVE SUPPLY AND MARKETING FEDERATION LIMITED, PANCHKULA

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

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

disallowance in that case was because the goods stored belonged to the assessee, while in the present case, third-party storage was involved. 8.1 The next issue arising for consideration pertains to the allowability of deduction under section 80P(2)(d) of the Income Tax Act, 1961 in respect of dividend and interest income earned by the assessee from

ASSISTANT COMMISSIONER OF INCOME TAX, PANCHKULA CIRCLE, PANCHKULA, PANCHKULA vs. HARYANA STATE COOPERATIVE SUPPLY AND MARKETING FEDERATION LTD, PANCHKULA

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

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

disallowance in that case was because the goods stored belonged to the assessee, while in the present case, third-party storage was involved. 8.1 The next issue arising for consideration pertains to the allowability of deduction under section 80P(2)(d) of the Income Tax Act, 1961 in respect of dividend and interest income earned by the assessee from

M/S DIN DAYAL PURSOTAM LAL,SIRSA vs. PR.CIT, ROHTAK

Bench: SHRI A.D.JAIN (Vice President), SHRI VIKRAM SINGH YADAV (Accountant Member)

42,492/- should have been disallowed as/bogus purchases']and also the observation that "assessee has made cash purchases from open market as the sales have been confirmed; However AO has failed to acknowledge this fact and no disallowance were made as per provision of section

M/S DIN DAYAL PURSOTAM LAL,SIRSA vs. PR.CIT, ROHTAK

Bench: SHRI A.D.JAIN (Vice President), SHRI VIKRAM SINGH YADAV (Accountant Member)

42,492/- should have been disallowed as/bogus purchases']and also the observation that "assessee has made cash purchases from open market as the sales have been confirmed; However AO has failed to acknowledge this fact and no disallowance were made as per provision of section

M/S DIN DAYAL PURSOTAM LAL,SIRSA vs. PR.CIT, ROHTAK

Bench: SHRI A.D.JAIN (Vice President), SHRI VIKRAM SINGH YADAV (Accountant Member)

42,492/- should have been disallowed as/bogus purchases']and also the observation that "assessee has made cash purchases from open market as the sales have been confirmed; However AO has failed to acknowledge this fact and no disallowance were made as per provision of section

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

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

disallowance of interest by invoking provisions of section 36(l)(iii) of the Act on the ground that the assessee company has paid share application money allegedly out of borrowed funds is directed to be deleted on the basis of same reasoning and logic as adopted by the Honourable Apex Court and Honourable Punjab and Haryana High Court while deleting

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)

disallowance under section 36(1)(iii) of interest to the extent of interest not taken. ० Post 'Abhishek Industries' (supra), according to 'Bright Enterprises' (dated 24.7.2015) (supra) [on having considered 'Abhishek Industries' (supra) and having followed 'SA Builders' (supra)], to allow the interest as deduction under section 36(1)(iii), the real test is that it was commercial expediency which

M/S AERIAL TELECOM SOLUTIONS PRIVATE LIMITED,MOHALI. vs. DCIT, CIRCLE 1 (1),, CHANDIGARH

In the result, the appeal of the assessee is allowed

Bench: Us.

42,000/- which was processed u/s 143(1) of the Act and in terms of intimation u/s 143(1) dated 10.01.2020 issued by CPC, it made disallowance of Rs.2,05,48,971/- towards employees’ contribution towards ESI and PF. 4. On appeal, the Ld.CIT(A), NFAC has confirmed the disallowance made u/s 143(1) of the Act on account

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)

disallowance u/s 14A made by him. The Ld. AO has failed to calculate the MAT credit u/s 115JB and 6. considered the credit available to the company while creating the demand on the above addition. 7. The appellant craves leave for reserving the right to amend, modify or add any ground (s) of appeal at any time or during

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)

disallowance u/s 14A made by him. The Ld. AO has failed to calculate the MAT credit u/s 115JB and 6. considered the credit available to the company while creating the demand on the above addition. 7. The appellant craves leave for reserving the right to amend, modify or add any ground (s) of appeal at any time or during

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)

disallowance u/s 14A made by him. The Ld. AO has failed to calculate the MAT credit u/s 115JB and 6. considered the credit available to the company while creating the demand on the above addition. 7. The appellant craves leave for reserving the right to amend, modify or add any ground (s) of appeal at any time or during

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)

disallowance u/s 14A made by him. The Ld. AO has failed to calculate the MAT credit u/s 115JB and 6. considered the credit available to the company while creating the demand on the above addition. 7. The appellant craves leave for reserving the right to amend, modify or add any ground (s) of appeal at any time or during

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)

disallowance u/s 14A made by him. The Ld. AO has failed to calculate the MAT credit u/s 115JB and 6. considered the credit available to the company while creating the demand on the above addition. 7. The appellant craves leave for reserving the right to amend, modify or add any ground (s) of appeal at any time or during