VARDHMAN POLYTEX LIMITED,LUDHIANA vs. DCIT(TDS), LUDHIANA

In the result, appeal of the Assessee is allowed

Bench: The Ld. Cit(A), Nfac, Delhi. Though Notices Were Issued Electronically Through The E-Filing Portal, The Assessee Contended That Such Notices Were Neither Brought To Their Knowledge Nor Received Through Any Alternative Means Such As Email Or Physical Intimation. Consequently, The Appeal Was Dismissed Ex Parte. It Was Further Submitted That The Issue Involved In The Present Appeal Is Legal In Nature & Does Not Require Examination Of Disputed Facts; Hence, The Matter May Be Adjudicated On Merits Without The Necessity Of A Remand To The Lower Authorities.

43,600/- made to the transporter Sh. Rohtash Kumar Banwarilal Bhadu Prop. M/s. Shree Shyam Transport Co..." The AO observed that: "The assessee submitted a declaration under Section 194C(6) but did not provide any evidence of ownership of trucks. Backend verification of ITRs and audit reports of the transporters revealed that several did not own trucks or were

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 14 of the Act read Rule 8D of the Income Tax\nRules is deleted.\nThe aforesaid order has been followed by the ITAT in the\n Assessment Year's i.e. 2009-10 and 2011-12, we, therefore do not see\nany valid ground to interfere with the findings of the Ld. CIT (A) who\nrightly deleted the disallowance made

AMAN THUKRAL,LUDHIANA vs. INCOME TAX OFFICER WARD 2(1), LUDHIANA , LUDHIANA

Accordingly, Additional Ground No. 1 is allowed for statistical

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

43. On the other hand, the Revenue has relied upon the confirmations and details furnished by the suppliers in response to notices issued under section 133(6), as well as the fact that the suppliers had reported the sales in their statutory records including GST returns. According to the Revenue, the discrepancy between the sales reported by the suppliers

M/S APEX BUILDERS, LUDHIANA vs. ITO, W-2(1), LUDHIANA

The appeal is partly allowed

Bench: SHRI. LALIET KUMAR (Judicial Member)

Section 40A(3), prior to the amendment brought in by the Finance Act, 2008 w.e.f. 01.04.2009. The amendment made a significant departure by providing that any payment or aggregate of payments made to a person in a day exceeding Rs.20,000 (now Rs.10,000), otherwise than by account payee cheque/draft or electronic clearing system, shall be disallowed

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/-“ u/s 14A to the returned income after substracting the suomotto disallowance of Rs. 18,55,326/-. The 1st appeal on ground No. 2(a) was that the Ld. DCIT failed to record proper satisfaction and established the nexus of interest relating to investment whose income is not chargeable to tax. 22.9 The calculation of disallowance under section

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/-“ u/s 14A to the returned income after substracting the suomotto disallowance of Rs. 18,55,326/-. The 1st appeal on ground No. 2(a) was that the Ld. DCIT failed to record proper satisfaction and established the nexus of interest relating to investment whose income is not chargeable to tax. 22.9 The calculation of disallowance under section

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/-“ u/s 14A to the returned income after substracting the suomotto disallowance of Rs. 18,55,326/-. The 1st appeal on ground No. 2(a) was that the Ld. DCIT failed to record proper satisfaction and established the nexus of interest relating to investment whose income is not chargeable to tax. 22.9 The calculation of disallowance under section

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/-“ u/s 14A to the returned income after substracting the suomotto disallowance of Rs. 18,55,326/-. The 1st appeal on ground No. 2(a) was that the Ld. DCIT failed to record proper satisfaction and established the nexus of interest relating to investment whose income is not chargeable to tax. 22.9 The calculation of disallowance under section

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/-“ u/s 14A to the returned income after substracting the suomotto disallowance of Rs. 18,55,326/-. The 1st appeal on ground No. 2(a) was that the Ld. DCIT failed to record proper satisfaction and established the nexus of interest relating to investment whose income is not chargeable to tax. 22.9 The calculation of disallowance under section

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/-“ u/s 14A to the returned income after substracting the suomotto disallowance of Rs. 18,55,326/-. The 1st appeal on ground No. 2(a) was that the Ld. DCIT failed to record proper satisfaction and established the nexus of interest relating to investment whose income is not chargeable to tax. 22.9 The calculation of disallowance under section

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/-“ u/s 14A to the returned income after substracting the suomotto disallowance of Rs. 18,55,326/-. The 1st appeal on ground No. 2(a) was that the Ld. DCIT failed to record proper satisfaction and established the nexus of interest relating to investment whose income is not chargeable to tax. 22.9 The calculation of disallowance under section

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/-“ u/s 14A to the returned income after substracting the suomotto disallowance of Rs. 18,55,326/-. The 1st appeal on ground No. 2(a) was that the Ld. DCIT failed to record proper satisfaction and established the nexus of interest relating to investment whose income is not chargeable to tax. 22.9 The calculation of disallowance under section

DCIT, C-1(1), CHANDIGARH vs. M/S STYLAM INDUSTRIES LTD., CHANDIGARH

In the result, the Department’s appeal in for assessment year

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

disallowed the payments under Section 40A(ia) of the Act. While doing so, the AO observed as follows : "2.6 The provisions of section 195 are applicable to all payees whether individual or of any other status who are covered under the definition of nonresident as per section 6 of the Income Tax Act. Under this section there is no threshold

M/S STYLAM INDUSTRIES LTD.,CHANDIGARH vs. DCIT, C-1(1), CHANDIGARH

In the result, the Department’s appeal in for assessment year

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

disallowed the payments under Section 40A(ia) of the Act. While doing so, the AO observed as follows : "2.6 The provisions of section 195 are applicable to all payees whether individual or of any other status who are covered under the definition of nonresident as per section 6 of the Income Tax Act. Under this section there is no threshold

DCIT, C-1(1), CHANDIGARH vs. M/S STYLAM INDUSTRIES LTD., CHANDIGARH

In the result, the Department’s appeal in for assessment year

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

disallowed the payments under Section 40A(ia) of the Act. While doing so, the AO observed as follows : "2.6 The provisions of section 195 are applicable to all payees whether individual or of any other status who are covered under the definition of nonresident as per section 6 of the Income Tax Act. Under this section there is no threshold

M/S STYLAM INDUSTRIES LTD.,CHANDIGARH vs. DCIT, C-1(1), CHANDIGARH

In the result, the Department’s appeal in for assessment year

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

disallowed the payments under Section 40A(ia) of the Act. While doing so, the AO observed as follows : "2.6 The provisions of section 195 are applicable to all payees whether individual or of any other status who are covered under the definition of nonresident as per section 6 of the Income Tax Act. Under this section there is no threshold

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)

43,42,84,338/- 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 36(1)(iii) of the Act. 19. During the appellate proceedings, the assessee submitted that the interest

KISSAN FATS LTD.,BATHINDA vs. DCIT, CC-1, LUDHIANA

In the result, the appeal of the assessee is allowed

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

disallowance on account of bogus purchases can be made. The Ld. CIT(A) has also discussed the modus operandi of bogus purchases as “Bogus purchases are made from paper companies to whom cheque payments are made and cash is received back. The bank accounts of the paper companies clearly depict the above picture wherein the cheque amounts are credited