AUTHORGEN TECHNOLOGIES PVT. LTD.,MOHALI vs. ITO, WARD 6(1), CHANDIGARH

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

56(2)(viib) of the Income Tax Act, 1961 even when DCF method was allowable as per Rule 11UA(2)(b) and hence such an action is bad in law. 3. On the facts and under the circumstances of the case and in law, the learned AO erred in invoking Section 68 of the Income Tax Act, 1961 even though

M/S VENKATESH TECHNOKRAFT PVT. LTD.,LUDHIANA vs. ITO, W-1(5), LUDHIANA

Bench: Him Which Is Arbitrary & Unjustified. 3. That The Assessment Order Having Been Passed By The Assessing Officer After Due Application Of Mind & Taking Into Consideration The Various Replies, Material On Record & Books Of Account, The Action Resorted To By The Commissioner Of Income Tax Is Unwarranted & Uncalled For.

disallowance / addition had been made by the A.O. and that the issue had not been properly examined and inquired into, therefore, detailed and deep inquiries were required to be made on this issue before accepting the claim of the assessee. 4.8 Ld. Pr. CIT observed that the assessment record revealed that requisite enquiry were not conducted regarding the issue

M/S EFFIEL ENTERPRISES PVT. LTD.,CHANDIGARH vs. DCIT, CIRCLE-1(1), CHANDIGARH

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

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

disallowing of fine and penalty, Rs.3,60,281/- by applying provisions of Section 56(2)(viib) of the Income Tax Act, Rs.2

M/S EFFIEL ENTERPRISES PVT. LTD.,CHANDIGARH vs. LD.JCIT, (OSD), CIRCLE-1(1), CHANDIGARH

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

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

disallowing of fine and penalty, Rs.3,60,281/- by applying provisions of Section 56(2)(viib) of the Income Tax Act, Rs.2