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

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)

47 interest would invite disallowance under section 36(1)(iii) of interest to the extent of interest not taken. ० Post

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

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)

section 80IC and 80 IA on insurance claim, Foreign Exchange Rate, interest from customers / suppliers, and commission from Ocean Freight. Such deduction was, however, disallowed on miscellaneous income and interest from banks. 16.2 The assessee has up against the confirmation of reduction of rent received of Rs. 2,09,73,193/-, miscellaneous income of Rs. 65,47

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)

section 80IC and 80 IA on insurance claim, Foreign Exchange Rate, interest from customers / suppliers, and commission from Ocean Freight. Such deduction was, however, disallowed on miscellaneous income and interest from banks. 16.2 The assessee has up against the confirmation of reduction of rent received of Rs. 2,09,73,193/-, miscellaneous income of Rs. 65,47

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)

section 80IC and 80 IA on insurance claim, Foreign Exchange Rate, interest from customers / suppliers, and commission from Ocean Freight. Such deduction was, however, disallowed on miscellaneous income and interest from banks. 16.2 The assessee has up against the confirmation of reduction of rent received of Rs. 2,09,73,193/-, miscellaneous income of Rs. 65,47

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)

section 80IC and 80 IA on insurance claim, Foreign Exchange Rate, interest from customers / suppliers, and commission from Ocean Freight. Such deduction was, however, disallowed on miscellaneous income and interest from banks. 16.2 The assessee has up against the confirmation of reduction of rent received of Rs. 2,09,73,193/-, miscellaneous income of Rs. 65,47

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)

section 80IC and 80 IA on insurance claim, Foreign Exchange Rate, interest from customers / suppliers, and commission from Ocean Freight. Such deduction was, however, disallowed on miscellaneous income and interest from banks. 16.2 The assessee has up against the confirmation of reduction of rent received of Rs. 2,09,73,193/-, miscellaneous income of Rs. 65,47

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

disallow the same vide assessment order dated 26.12.2022. This omission has resulted in under assessment of income of Rs.4,23,71,541/-.\n4.3 The assessee, after receiving the Show Cause Notice, has submitted a detailed reply to the Id. PCIT has submitted that during the scrutiny assessment, the AO raised specific queries regarding VAT liability vide notices dated

DY.CIT, CIRCLE-1(1), CHANDIGARH vs. M/S GLAXOSMITHKLINE CONSUMER PVT. LTD., NABHA

In the result, Revenue’s appeal is dismissed

Bench: Shri Rajpal Yadav & Shri Krinwant Sahayआयकर अपील सं./ Ita No. 121/Chd/2023 "नधा"रण वष" / Assessment Year : 2016-17 Dcit, M/S Glaxosmithkline Circle 1(1), बनाम Consumer Pvt. Ltd., Chandigarh Patiala Road, Vs. Nabha. Punjab "थायी लेखा सं./Pan No. Aafcg8415R अपीलाथ"/Appellant ""यथ"/Respondent ( Hybrid Mode ) "नधा"रती क" ओर से/Assessee By : Sh. Ajay Vohra, Sr. Advocate With Sh. Neeraj Jain, Advocate & Ms. Somya Jain, Ca (Virtual) राज"व क" ओर से/ Revenue By : Shri Manav Bansal, Cit Dr सुनवाई क" तार"ख/Date Of Hearing : 06.08.2025 उदघोषणा क" तार"ख/Date Of Pronouncement : 16.10.2025 आदेश/Order Per Krinwant Sahay, Am:

disallowed by the AO. against claim in computation for half the year. The AO also rejected claim of depreciation proceedings, i.e of depreciation on tangible fixed assets at rate applicable for the full year, as on goodwill in another transaction of purchase of assets from Novartis Health Pvt Ltd (NHPL), wherein the excess consideration paid over the FMV of assets

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

disallowed and excess of income 2,82,41,720 over expenditure Total Taxable Income 10,47,74,451 5. The assessee has taken eight grounds of appeal in assessment year 2014-15 and ten grounds of appeal in assessment year 2015-16. In brief, its grievance revolves around the additions noticed by us in the above table and rest

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

disallowed and excess of income 2,82,41,720 over expenditure Total Taxable Income 10,47,74,451 5. The assessee has taken eight grounds of appeal in assessment year 2014-15 and ten grounds of appeal in assessment year 2015-16. In brief, its grievance revolves around the additions noticed by us in the above table and rest

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1), CHANDIGARH, CHANDIGARH vs. UNIPRO TECHNO INFRASTRUCTURE PVT LTD, CHANDIGARH

In the result, the order of the ld CIT(A) is confirmed and the grounds of appeal taken by the Revenue are dismissed

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

47,55,843/-. The matter was selected for scrutiny and notice under section 143(2) and 142(1) were issued and after calling for necessary information, documentation from the assessee, the assessment proceedings were completed and order under section 143(3) dt. 13/12/2018 was passed by the AO whereby the AO has disallowed

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

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

47 13.4 In “ITO Vs Rajpal Singh” 91 TTJ 993 (Mum), it has been held that if sales are disputed, purchases cannot be disallowed. The following decisions are also to the same effect : i) M/s Beauty Tex ITA 508/JP/2016 ii) Shri Heera Lal Chuni Lal Jain V ITO, order dated 01.01.2016, passed in ITA No.4547/Mum/2014 iii) M/s Imperial

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

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

47 13.4 In “ITO Vs Rajpal Singh” 91 TTJ 993 (Mum), it has been held that if sales are disputed, purchases cannot be disallowed. The following decisions are also to the same effect : i) M/s Beauty Tex ITA 508/JP/2016 ii) Shri Heera Lal Chuni Lal Jain V ITO, order dated 01.01.2016, passed in ITA No.4547/Mum/2014 iii) M/s Imperial

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

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

47 13.4 In “ITO Vs Rajpal Singh” 91 TTJ 993 (Mum), it has been held that if sales are disputed, purchases cannot be disallowed. The following decisions are also to the same effect : i) M/s Beauty Tex ITA 508/JP/2016 ii) Shri Heera Lal Chuni Lal Jain V ITO, order dated 01.01.2016, passed in ITA No.4547/Mum/2014 iii) M/s Imperial

M/S S.R. INDUSTRIES LIMITED,CHANDIGARH vs. ACIT, CHANDIGARH

In the result, appeal is allowed

Bench: Shri Rajpal Yadav & Shri Manoj Kumar Aggarwal

47,52,591/- on borrowed funds. During the year, the disallowance of interest under Section 36(1)(iii) of the Act in relation

ASSISTANT COMMISSIONER OF INCOME TAX, PANCHKULA CIRCLE, PANCHKULA, PANCHKULA vs. THE HARYANA STATE CO-OPERATIVE AGRICULTURE AND RURAL DEVELOPMENT, PANCHKULA

Appeal is allowed

Bench: SHRI. RAJPALYADAV (Vice President), SHRI. KRINWANT SAHAY (Accountant Member)

disallowed a sum of Rs. 47,178/- deduction under section 80P(2)(a)(i) for interest income from nationalized bank

THE HARYANA STATE CO-OPERATIVE AGRICULTURE AND RURAL DEVELOPMENT,PANCHKULA vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE,, PANCHKULA

Appeal is allowed

Bench: BEFORE: SHRI. RAJPALYADAV (Vice President), SHRI. KRINWANT SAHAY (Accountant Member)

disallowed a sum of Rs. 47,178/- deduction under section 80P(2)(a)(i) for interest income from nationalized bank