HARYANA BUILDING AND OTHER CONSTRUCTION WORKERS WELFARE BOARD,PANCHKULA vs. CIT(EXEMPTION), CHANDIGARH

In the result, this appeal of the Assessee stands dismissed

46), the Appellant's receipts are\nnot liable to tax. Its activities are inherently charitable, and the cess received\nforms part of corpus funds dedicated to public welfare. Accordingly, no part of\nits income can be brought to tax under the Act.\n\n3 Whether reassessment on account of revision under section 263 is bad in law\nand liable

HARYANA BUILDING AND OTHER CONSTRUCTION WORKERS WELFARE BOARD,PANCHKULA vs. DCIT, EXEMPTION, CHANDIGARH

In the result, this appeal of the Assessee stands dismissed

46), the Appellant's receipts are\nnot liable to tax. Its activities are inherently charitable, and the cess received\nforms part of corpus funds dedicated to public welfare. Accordingly, no part of\nits income can be brought to tax under the Act.\n\n3 Whether reassessment on account of revision under section 263 is bad in law\nand liable

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

46,685/-which on the facts of the case is allowable as per decision of Hon'ble Supreme Court as referred above. In view of the above, it is therefore prayed that the interest relating to advance to these parties may not be disallowed. To this extent the disallowance made in the computation of taxable income may be rectified

M/S BARNALA BUILDERS AND CONSULTANT,ZIRAKPUR vs. DCIT/ACIT (CEN)-1, CHANDIGARH

In the result, the appeal of the assessee is dismissed

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

section 143(1) dt. 19/11/2019 was passed wherein the disallowance Rs. 2,46,952/- invoking the provisions of Section 143(1)(a)(iv) was made

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

46,685/-which on the\nfacts of the case is allowable as per decision of Hon'ble Supreme Court\nas referred above.\nIn view of the above, it is therefore prayed that the interest relating to\nadvance to these parties may not be disallowed. To this extent the\ndisallowance made in the computation of taxable income may be\nrectified

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

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

In the result, appeal is dismissed

Bench: Shri Krinwant Sahay & Shri Paresh M. Joshi

disallowance made under section 14A r/w rule 8D of the Income tax Rules. 1.1 The appellant corporation held following investments as on 31.03.2017; SR. NO. PARTICULARS AMOUNT (RS.) 1 Investment in UHBVNL 5,46

ACIT,CIRCLE-1, LUDHIANA vs. M/S VARDHMAN TEXTILES LTD., LUDHIANA

In the result, appeals of the Assessee are partly allowed whereas the Cross appeals of the Revenue are dismissed

Bench: SHRI. AAKASH DEEP JAIN (Vice President), SHRI. SHRI. KRINWANT SAHAY (Accountant Member)

46,62,809/-. The total disallowance under Clause of Rule 8D(2) was, therefore, of Rs. 15,09,95,598/-. From this, suo-moto disallowance of Rs. 11,79,624/- made by the assessee was subtracted, to arrive at final balance disallowance of Rs. 14,98,15,974/-. When the Ld. CIT(A) directed the amended provision of Rule

VARDHMAN TEXTILES LIMITED,LUDHIANA vs. ACIT-CIRCLE-1, LUDHIANA

In the result, appeals of the Assessee are partly allowed whereas the Cross appeals of the Revenue are dismissed

Bench: SHRI. AAKASH DEEP JAIN (Vice President), SHRI. SHRI. KRINWANT SAHAY (Accountant Member)

46,62,809/-. The total disallowance under Clause of Rule 8D(2) was, therefore, of Rs. 15,09,95,598/-. From this, suo-moto disallowance of Rs. 11,79,624/- made by the assessee was subtracted, to arrive at final balance disallowance of Rs. 14,98,15,974/-. When the Ld. CIT(A) directed the amended provision of Rule

M/S VARDHMAN TEXTILES LIMITED,LUDHIANA vs. ACIT, C-1, LUDHIANA

In the result, appeals of the Assessee are partly allowed whereas the Cross appeals of the Revenue are dismissed

Bench: SHRI. AAKASH DEEP JAIN (Vice President), SHRI. SHRI. KRINWANT SAHAY (Accountant Member)

46,62,809/-. The total disallowance under Clause of Rule 8D(2) was, therefore, of Rs. 15,09,95,598/-. From this, suo-moto disallowance of Rs. 11,79,624/- made by the assessee was subtracted, to arrive at final balance disallowance of Rs. 14,98,15,974/-. When the Ld. CIT(A) directed the amended provision of Rule

M/S VARDHMAN TEXTILES LIMITED,LUDHIANA vs. DCIT, C-1, LUDHIANA

In the result, appeals of the Assessee are partly allowed whereas the Cross appeals of the Revenue are dismissed

Bench: SHRI. AAKASH DEEP JAIN (Vice President), SHRI. SHRI. KRINWANT SAHAY (Accountant Member)

46,62,809/-. The total disallowance under Clause of Rule 8D(2) was, therefore, of Rs. 15,09,95,598/-. From this, suo-moto disallowance of Rs. 11,79,624/- made by the assessee was subtracted, to arrive at final balance disallowance of Rs. 14,98,15,974/-. When the Ld. CIT(A) directed the amended provision of Rule

DCIT, C-1, LUDHIANA vs. M/S VARDHMAN TEXTILES LIMITED, LUDHIANA

In the result, appeals of the Assessee are partly allowed whereas the Cross appeals of the Revenue are dismissed

Bench: SHRI. AAKASH DEEP JAIN (Vice President), SHRI. SHRI. KRINWANT SAHAY (Accountant Member)

46,62,809/-. The total disallowance under Clause of Rule 8D(2) was, therefore, of Rs. 15,09,95,598/-. From this, suo-moto disallowance of Rs. 11,79,624/- made by the assessee was subtracted, to arrive at final balance disallowance of Rs. 14,98,15,974/-. When the Ld. CIT(A) directed the amended provision of Rule

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

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)

46,72,893 – 1,13,73,255 = 1,32,99,638/- = 2,52,41,328 Total 2.15 The Ld. AO in para 5.5 of the assessment order dt. 30/12/2018 has finally held as under basis aforesaid:- “Therefore in pursuance of the directions of the Hon'ble ITAT. the common expenses allocated between the exempt and non-emept units have been

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)

46,72,893 – 1,13,73,255 = 1,32,99,638/- = 2,52,41,328 Total 2.15 The Ld. AO in para 5.5 of the assessment order dt. 30/12/2018 has finally held as under basis aforesaid:- “Therefore in pursuance of the directions of the Hon'ble ITAT. the common expenses allocated between the exempt and non-emept units have been

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)

46,72,893 – 1,13,73,255 = 1,32,99,638/- = 2,52,41,328 Total 2.15 The Ld. AO in para 5.5 of the assessment order dt. 30/12/2018 has finally held as under basis aforesaid:- “Therefore in pursuance of the directions of the Hon'ble ITAT. the common expenses allocated between the exempt and non-emept units have been

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)

46,72,893 – 1,13,73,255 = 1,32,99,638/- = 2,52,41,328 Total 2.15 The Ld. AO in para 5.5 of the assessment order dt. 30/12/2018 has finally held as under basis aforesaid:- “Therefore in pursuance of the directions of the Hon'ble ITAT. the common expenses allocated between the exempt and non-emept units have been

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)

46,72,893 – 1,13,73,255 = 1,32,99,638/- = 2,52,41,328 Total 2.15 The Ld. AO in para 5.5 of the assessment order dt. 30/12/2018 has finally held as under basis aforesaid:- “Therefore in pursuance of the directions of the Hon'ble ITAT. the common expenses allocated between the exempt and non-emept units have been