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)

43,765/- in this case on account of disallowance u/s 14A. The reason for making the impugned addition "was that the assessee company has made investment and claimed financial cost of Rs. 4,97,26,846/-. The Assessing Officer is of view that the disallowance u/s 14A is to be made in respect of the expenditure in relation

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)

43,765/- in this case on account of disallowance u/s 14A. The reason for making the impugned addition "was that the assessee company has made investment and claimed financial cost of Rs. 4,97,26,846/-. The Assessing Officer is of view that the disallowance u/s 14A is to be made in respect of the expenditure in relation

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)

43,765/- in this case on account of disallowance u/s 14A. The reason for making the impugned addition "was that the assessee company has made investment and claimed financial cost of Rs. 4,97,26,846/-. The Assessing Officer is of view that the disallowance u/s 14A is to be made in respect of the expenditure in relation

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)

43,765/- in this case on account of disallowance u/s 14A. The reason for making the impugned addition "was that the assessee company has made investment and claimed financial cost of Rs. 4,97,26,846/-. The Assessing Officer is of view that the disallowance u/s 14A is to be made in respect of the expenditure in relation

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)

43,765/- in this case on account of disallowance u/s 14A. The reason for making the impugned addition "was that the assessee company has made investment and claimed financial cost of Rs. 4,97,26,846/-. The Assessing Officer is of view that the disallowance u/s 14A is to be made in respect of the expenditure in relation

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)

43,765/- in this case on account of disallowance u/s 14A. The reason for making the impugned addition "was that the assessee company has made investment and claimed financial cost of Rs. 4,97,26,846/-. The Assessing Officer is of view that the disallowance u/s 14A is to be made in respect of the expenditure in relation

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)

43,765/- in this case on account of disallowance u/s 14A. The reason for making the impugned addition "was that the assessee company has made investment and claimed financial cost of Rs. 4,97,26,846/-. The Assessing Officer is of view that the disallowance u/s 14A is to be made in respect of the expenditure in relation

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)

43,765/- in this case on account of disallowance u/s 14A. The reason for making the impugned addition "was that the assessee company has made investment and claimed financial cost of Rs. 4,97,26,846/-. The Assessing Officer is of view that the disallowance u/s 14A is to be made in respect of the expenditure in relation

THE CHAPLAH CO-OPERATIVE AGRICULTURAL SERVICE SOCIETY LTD,VPO CHOULI vs. LD. DCIT , CPC, CPC, BENGALURU

In the result, appeal of the Assessee is allowed

Bench: The Tribunal Against The Order Dt 25.04.2023 Of Ld. Commissioner Of Income Tax(Appeals), National Faceless Appeal Centre (Nfac), Delhi.

43,490/-. The AO CPC in the order passed u/s 143(1) of the Act rejected the claim of the assessee on the ground that the return was not filed within due date. On the issue for adjudication before me is whether the Assessing Officer CPC has jurisdiction to reject or disallow a claim made by the Assessee

KHANNA INFRABUILD PRIVATE LIMITED 2000-1A, SUKHDEV NAGAR FEROZEPUR ROAD, LUDHIANA,LUDHIANA vs. THE DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-2 LUDHIANA, LUDHIANA

In the result, the ground of appeal is allowed

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

D) F (E-B) 2012-13 65,07,890.00 2,13,96,100.00 37,44,318.00 1,76,51,782.50 1,11,43,893.00 2013-14 - - - - - 2014-15 2,72,08,989.00 8,94,55,400.00 1,56,54,695.00 7,38,00,705.00 4,65,91,716.00 2015-16 1,55,41,673.81 5

KHANNA INFRABUILD PRIVATE LIMITED ,LUDHIANA vs. THE DEPUTY COMMISSIONER OF INCOME TAX (CENTRAL CIRCLE)-2 LUDHIANA, LUDHIANA

In the result, the ground of appeal is allowed

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

D) F (E-B) 2012-13 65,07,890.00 2,13,96,100.00 37,44,318.00 1,76,51,782.50 1,11,43,893.00 2013-14 - - - - - 2014-15 2,72,08,989.00 8,94,55,400.00 1,56,54,695.00 7,38,00,705.00 4,65,91,716.00 2015-16 1,55,41,673.81 5

KHANNA INFRABUILD PRIVATE LIMITED ,LUDHIANA vs. THE DEPUTY COMMISSIONER OF INCOME TAX (CENTRAL CIRCLE)-2, LUDHIANA, LUDHIANA

In the result, the ground of appeal is allowed

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

D) F (E-B) 2012-13 65,07,890.00 2,13,96,100.00 37,44,318.00 1,76,51,782.50 1,11,43,893.00 2013-14 - - - - - 2014-15 2,72,08,989.00 8,94,55,400.00 1,56,54,695.00 7,38,00,705.00 4,65,91,716.00 2015-16 1,55,41,673.81 5

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)

D is warranted. The Ld. CIT(A) also referred to the decision of Jurisdictional Punjab and Haryana High Court in the case of CIT Vs. Lakhani Marketing (2014(7) TMI 44 Punjab and Haryana High Court, decision of Coordinate Chandigarh Bench in case of M/s Oasis Merchants Private Limited Vs, The ACIT, Circle 7, Ludhiana

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

43 which read as under:\n18. We have heard the learned representatives of both the parties,\nperused the findings of the authorities below and considered the\nmaterial available on record. We have also gone through the order of\nthe I.T.A.T., Chandigarh Bench in assessee's own case for assessment\nyear 2009-10. On perusing the same, we find identical issue

PUNJAB STATE COOP. BANK LTD.,CHANDIGARH vs. ACIT, CL-2(1), CHANDIGARH

In the result the impugned order of Ld

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

disallowed the amount Rs.7,43,000/- as income of the assessee by holding as under: The assessee claims NPA as an expenditure under the Income Tax Act 1961. However, it has failed to show the amount as income which has been recovered from the NPAs. Therefore, the amount of Rs.743,000/- is added to the Income of the assessee. Further

M/S H.P.STATE FOREST COPRN. LTD.,SHIMLA vs. JCIT, S.R., SHIMLA

In the result, the present appeal of Appellant/Assessee is allowed and impugned order of Ld

Bench: Shri Vikram Singh Yadav& Shri Paresh M. Joshiआयकरअपीलसं./Ita Nos.280& 281/Chd/2000 िनधा"रणवष" / Assessment Years : 1990-91& 1991-92 M/S H.P. State Forest Corp. Ltd. Vs The Jcit, Van Nigam Kasumpti Shimla Shimla "ायीलेखासं./Pan No: Aaach4036L अपीलाथ"/Appellant ""यथ"/Respondent िनधा"रतीक"ओरसे/Assessee By: Shri Y.K. Sud, Ca राज"वक"ओरसे/ Revenue By : Sh.Sarabjeet Singh, Cit-Dr सुनवाईक"तारीख/Date Of Hearing : 28.05.2024 उदघोषणाक"तारीख/Date Of Pronouncement : 06.06.2024 Hybridhearing आदेश/Order Per Paresh M. Joshi, Jm: Both The Above Appeals Have Been Filed By The Assessee. Since The Issues Involved In Both The Above Appeals Are Common & Were Heard Together Therefore They Are Being Disposed Off By This Consolidated Order For The Sake Of Brevity. We Shall Take Appeal Of The Assessee In Ita No. 280/Chd/2000 As A Lead Case.

5 are not pressed. 22. The ground No.2 is on disallowance of Rs.1,88,82,756/- and Ground No.3 is related to ground No.2 i.e., not penal in nature. 23. The Ground No.4 is on disallowing the deduction of Rs.3,86,14,986/- on a ccount of interest on interest. 24. The Ground No.6 is general. 25. Per contra

M/S H.P.STATE FOREST COPRN. LTD.,SHIMLA vs. JCIT, S.R., SHIMLA

In the result, the present appeal of Appellant/Assessee is allowed and impugned order of Ld

Bench: Shri Vikram Singh Yadav& Shri Paresh M. Joshiआयकरअपीलसं./Ita Nos.280& 281/Chd/2000 िनधा"रणवष" / Assessment Years : 1990-91& 1991-92 M/S H.P. State Forest Corp. Ltd. Vs The Jcit, Van Nigam Kasumpti Shimla Shimla "ायीलेखासं./Pan No: Aaach4036L अपीलाथ"/Appellant ""यथ"/Respondent िनधा"रतीक"ओरसे/Assessee By: Shri Y.K. Sud, Ca राज"वक"ओरसे/ Revenue By : Sh.Sarabjeet Singh, Cit-Dr सुनवाईक"तारीख/Date Of Hearing : 28.05.2024 उदघोषणाक"तारीख/Date Of Pronouncement : 06.06.2024 Hybridhearing आदेश/Order Per Paresh M. Joshi, Jm: Both The Above Appeals Have Been Filed By The Assessee. Since The Issues Involved In Both The Above Appeals Are Common & Were Heard Together Therefore They Are Being Disposed Off By This Consolidated Order For The Sake Of Brevity. We Shall Take Appeal Of The Assessee In Ita No. 280/Chd/2000 As A Lead Case.

5 are not pressed. 22. The ground No.2 is on disallowance of Rs.1,88,82,756/- and Ground No.3 is related to ground No.2 i.e., not penal in nature. 23. The Ground No.4 is on disallowing the deduction of Rs.3,86,14,986/- on a ccount of interest on interest. 24. The Ground No.6 is general. 25. Per contra

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)

Section 43(4), ‘Scientific Research’ means any activities for the extension of ITA 350/CHD/2023 A.Y. 2017-18 78 knowledge in the fields of natural or applied science including agriculture, animal husbandry or fisheries; that ‘expenditure incurred on scientific research’ includes all expenditure incurred for the prosecution or provision of facilities for the prosecution of scientific research, but do not include