SAHIBZADA TIMBER AND PLY PRIVATE LIMITED ,MOHALI vs. DCIT, ACIT CENTRAL CIRCLE-2, CHANDIGARH, CHANDIGARH

In the result, the appeal of the assessee is dismissed

Bench: SHRI. VIKRAM SINGH YADAV, AM आयकर अपील सं./ ITA No. 699/Chd/2024 निर्धारण वर्ष / Assessment Year : 2019-20 M/s Sahibzada Timber & Ply Private Limited B41-42, Phase-3, Indl. Aera, SAS Nagar Mohali, Punjab बनाम The DCIT Central Circle-2 Chandigarh स्थायी लेखा सं./PAN NO: AAQCS2239G अपीलार्थी/Appellant प्रत्यर्थी/Respondent निर्धारिती की ओर से/Assessee by : Shri Mohit Dhiman, C.A राजस्व की ओर से/ Revenue by : Dr. Ranjeet Kaur, Sr. DR Shri Dharam Vir, Addl. CIT, Sr.DR सुनवाई की तारीख/Date of He

disallowed loss on sale of capital asset amounting to Rs. 25,75,000/- without bringing on record any material to prove that the Appellant had violated the provisions of section 50C of the Income Tax Act, which provides for the fair market value to be adopted in case of transfer(sale) of immovable property, being land or building or both

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1), CHANDIGARH vs. ESSIX BIOSCIENCES LIMITED, MANIMAJRA

In the result, the appeal is dismissed and the

Bench: SHRI A.D.JAIN (Vice President), SHRI KRINWANT SAHAY (Accountant Member)

disallowance under Section 14A to Rs. 48,48,000/- despite the fact that assessee has earned the exempt income of Rs. 7,12,442/- during

ACIT, LUDHIANA vs. M/S MRS. BECTORS FOOD SPECIALTIES PVT. LTD., LUDHIANA

Bench: Smt. Diva Singh & Dr. B.R.R. Kumar

disallowance u/s 14A rw rule 8D for A.Y. 2008-09 onwards. Reliance is place on following decision. Hon'ble Punjab & Haryana High Court decision in the case of Punjab Tractors Ltd vs CIT ITA No. 458 of 2015 dated 03/02/2017 for A.Y. 2008-09. The relevant extract of the decision is as under: "2. The appeal is admitted

ASSTT.COMMISSIONER OF INCOME TAX, LUDHIANA vs. M/S MRS.BECTORS FOOD SPECILTIES LTD, LUDHIANA

Bench: Smt. Diva Singh & Dr. B.R.R. Kumar

disallowance u/s 14A rw rule 8D for A.Y. 2008-09 onwards. Reliance is place on following decision. Hon'ble Punjab & Haryana High Court decision in the case of Punjab Tractors Ltd vs CIT ITA No. 458 of 2015 dated 03/02/2017 for A.Y. 2008-09. The relevant extract of the decision is as under: "2. The appeal is admitted

ASSTT.COMMISSIONER OF INCOME TAX, LUDHIANA vs. M/S MRS.BECTORS FOOD SPECILTIES LTD, LUDHIANA

Bench: Smt. Diva Singh & Dr. B.R.R. Kumar

disallowance u/s 14A rw rule 8D for A.Y. 2008-09 onwards. Reliance is place on following decision. Hon'ble Punjab & Haryana High Court decision in the case of Punjab Tractors Ltd vs CIT ITA No. 458 of 2015 dated 03/02/2017 for A.Y. 2008-09. The relevant extract of the decision is as under: "2. The appeal is admitted

ASSTT.COMMISSIONER OF INCOME TAX, LUDHIANA vs. M/S MRS.BECTORS FOOD SPECILTIES LTD, LUDHIANA

Bench: Smt. Diva Singh & Dr. B.R.R. Kumar

disallowance u/s 14A rw rule 8D for A.Y. 2008-09 onwards. Reliance is place on following decision. Hon'ble Punjab & Haryana High Court decision in the case of Punjab Tractors Ltd vs CIT ITA No. 458 of 2015 dated 03/02/2017 for A.Y. 2008-09. The relevant extract of the decision is as under: "2. The appeal is admitted

ASSTT.COMMISSIONER OF INCOME TAX, LUDHIANA vs. M/S MRS.BECTORS FOOD SPECILTIES LTD, LUDHIANA

Bench: Smt. Diva Singh & Dr. B.R.R. Kumar

disallowance u/s 14A rw rule 8D for A.Y. 2008-09 onwards. Reliance is place on following decision. Hon'ble Punjab & Haryana High Court decision in the case of Punjab Tractors Ltd vs CIT ITA No. 458 of 2015 dated 03/02/2017 for A.Y. 2008-09. The relevant extract of the decision is as under: "2. The appeal is admitted

ASSTT.COMMISSIONER OF INCOME TAX, LUDHIANA vs. M/S MRS.BECTORS FOOD SPECILTIES LTD, LUDHIANA

Bench: Smt. Diva Singh & Dr. B.R.R. Kumar

disallowance u/s 14A rw rule 8D for A.Y. 2008-09 onwards. Reliance is place on following decision. Hon'ble Punjab & Haryana High Court decision in the case of Punjab Tractors Ltd vs CIT ITA No. 458 of 2015 dated 03/02/2017 for A.Y. 2008-09. The relevant extract of the decision is as under: "2. The appeal is admitted

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)

48,177/- which is not allowable under section 36 of the Act. Further the assessee has not deducted TDS under section 194A of the Act. Hence, the provision so made was also held disallowable

M/S HARYANA STATE INDUSTRIAL & INFRASTRUCTURE DEVELOPMENT CORPN.,,PANCHKULA vs. ACIT,, PANCHKULA

In the result, all the above appeals of the assessee are

Bench: The Itat. That In The First Round The Itat Had Held The Provisions Of Section 14A Of The Act, For The Purposes Of Disallowing Expenses Relating To Exempt Income, Applicable In The Facts Of The Present Cases On Noting That The Assessee Had Earned Exempt Income In The Form

section 14A of the Act and as per law. That subsequently the AO, after giving due opportunity of hearing to the assessee, had worked out the disallowance by applying the mathematical formula provided in Rule 8D of the Income Tax Rule, 1962 for the said purpose, making disallowance of expenses for the impugned assessment years as under: Asstt. Year Disallowance

DEPUTY COMMISSIONER OF INCOME TAX, CHANDIGARH vs. ESSIX BIOSCIENCES LIMITED, CHANDIGARH

In the result, the appeal filed by the Department is

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

disallowance under Section 14A to Rs. 48,48,000/- despite the fact that assessee has earned the exempt income of Rs. 7,12,442/- during

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

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.

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 of assessee’s failure to pay the employees’ contribution of ESI & PF within the prescribed due date under the relevant Statute as per section

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)

section 69C are not applicable in the case of appellant. 5. That the Ld. CIT(A), NFAC, Delhi has failed to appreciate that the Ld. AO has wrongly disallowed a sum of Rs. 28,48

M/S GLAXOSMITHKLINE ASIA PVT. LTD.,GURGAON vs. DCIT, CHANDIGARH

In the result, the appeal of the assessee is partly allowed

48 deals with certain amounts which are not allowable while computing the income under the head ‘business and profession’ and sub-clause(ii) thereof mentions taxes paid on profits and gains of business and profession as not allowable. The relevant provisions of section reproduced as under: “40. Notwithstanding anything to the contrary in sections 30 to 38, the following amounts

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

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

section 10(38) of the Act is directed to be deleted on the basis of same reasoning and logic as adopted by the Honourable ITAT, Chandigarh in the case of the assessee company itself for the A.Ys. 2008-09, 2009- 10 and 2010-11 while deleting the identical addition in these years. In the result, 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)

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, 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)

48,92,749/- - 1,29,51,059 = 1,19,41,690/- 2. Misc. Expenses = 2,46,72,893 – 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