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195 results for “reassessment”+ Section 35clear

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Key Topics

Section 153A109Section 143(3)68Section 26359Section 14855Section 14754Addition to Income52Section 153C51Section 13245Section 143(2)25

SH. VIBHAV JAIN,LUDHIANA vs. DCIT, CC-III, LUDHIANA

In the result, the ground no

ITA 355/CHANDI/2023[2013-14]Status: DisposedITAT Chandigarh16 Feb 2024AY 2013-14

Bench: SHRI. SANJAY GARG (Judicial Member), SHRI. VIKRAM SINGH YADAV (Accountant Member)

For Appellant: Shri Sudhir Sehgal, AdvocateFor Respondent: Smt. Kusum Bansal, CIT DR
Section 10(36)Section 10(38)Section 143(1)Section 143(2)Section 153A

35-51 and 177, 178 &179 of Annexure-A seized from locker no. 194, HDFC Bank, Ludhiana, contains details of share for which bogus LTCG has been claimed by the assessee and which were confronted to the assessee in detailed show cause dt. 14/09/2017. It was stated by the AO that the above documents reflect that the assessee

Showing 1–20 of 195 · Page 1 of 10

...
Disallowance16
Reopening of Assessment15
Reassessment14

ACIT, CIRCLE 1(1), CHANDIGARH vs. M/S SML ISUZU LTD., CHANDIGARH

ITA 644/CHANDI/2022[2015-16]Status: DisposedITAT Chandigarh18 Sept 2024AY 2015-16

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

For Appellant: Shri Rohit Jain, Advocate and Ms. Somya Jain, C.AFor Respondent: Shri Vivek Vardhan, JCIT, Sr. DR
Section 143(2)Section 143(3)Section 147Section 148Section 250Section 253Section 3

35. That initiation of reassessment proceedings in the absence of any tangible material merely on the basis of reappraisal of information / facts already available on record, is nothing but on the basis of mere change of opinion which is not permissible in law. Being so, the impugned, reassessment order is illegal and bad in law and the CIT(A) rightly

WINSOME TEXTILE INDUSTRIES LIMITED,CHANDIGARH vs. ASSTT. COMMISSIONER OF INCOME TAX, CIRCLE-4(1), CHANDIGARH, CHANDIGARH

In the result, the appeal of the assessee is partly allowed and the appeal of the Revenue is dismissed

ITA 528/CHANDI/2024[2011-12]Status: DisposedITAT Chandigarh27 Feb 2025AY 2011-12

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

For Appellant: Shri Tejmohan Singh, AdvocateFor Respondent: Shri Ved Parkash Kalia Sr. DR
Section 115JSection 143(1)Section 143(3)Section 147Section 148

reassessment proceedings even when intimation under section 143(1) had been issued.” 34. In case of Pr. CIT-6 Vs. Meenakshi Overseas (P) Ltd. (Supra), the Hon’ble Delhi High Court has held as under: “19. A perusal of the reasons as recorded by the AO reveals that there are three parts to it. In the first part

DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, LUDHIANA, LUDHIANA vs. M/S JAMNA DASS NIKKAMAL JAIN SARAF PVT. LTD., LUDHIANA

In the result, the appeal filed by Revenue is dismissed and the appeal filed by the Assessee is allowed

ITA 628/CHANDI/2025[2022-23]Status: HeardITAT Chandigarh04 Nov 2025AY 2022-23

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

For Appellant: Shri Sudhir Sehgal, AdvocateFor Respondent: Shri Manav Bansal, CIT, DR
Section 115BSection 143(3)Section 145(3)Section 148BSection 151Section 69A

reassessment not only. procedurally defective but also without jurisdiction. 33. Even we find while framing the assessment under section 143(3), the Assessing Officer (AO) has, on the last page of the assessment order, referred to an approval obtained from the supervisory authority. However, a bare perusal of this approval shows that it was obtained in reference

JAMNA DASS NIKKAMAL JAIN SARAF PRIVATE LIMITED, LUDHIANA,LUDHIANA vs. THE DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE 1, LUDHIANA, LUDHIANA

In the result, the appeal filed by Revenue is dismissed and the appeal filed by the Assessee is allowed

ITA 403/CHANDI/2025[2022-2023]Status: HeardITAT Chandigarh04 Nov 2025AY 2022-2023

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

For Appellant: Shri Sudhir Sehgal, AdvocateFor Respondent: Shri Manav Bansal, CIT, DR
Section 115BSection 143(3)Section 145(3)Section 148BSection 151Section 69A

reassessment not only. procedurally defective but also without jurisdiction. 33. Even we find while framing the assessment under section 143(3), the Assessing Officer (AO) has, on the last page of the assessment order, referred to an approval obtained from the supervisory authority. However, a bare perusal of this approval shows that it was obtained in reference

AMARJIT SINGH,LUDHIANA vs. INCOME TAX OFFICER,WARD 6(1) LUDHIANA, LUDHIANA

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

ITA 1171/CHANDI/2024[2017-18]Status: DisposedITAT Chandigarh29 Jul 2025AY 2017-18

Bench: SHRI. LALIET KUMAR (Judicial Member), SHRI. KRINWANT SAHAY, AM आयकर अपील सं. / ITA No. 1171 /Chd/2024 निर्धारण वर्ष / Assessment Year : 2017-18 Shri Amarjit Singh बनाम The ITO C/o V V Bhalla & Company Ward 6(1) SCF-39, Rishi Nagar Main Market, Ludhiana Adjoining Subway, Ludhiana-141001, Punjab स्थायी लेखा सं./PAN NO: ABTPS8558B अपीलार्थी/Appellant प्रत्यर्थी/Respondent निर्धारिती की ओर से / Assessee by : Shri Pankaj Bhalla, C.A राजस्व की ओर से/ Revenue by : Shri Vivek Vardhan, Addl. CIT, Sr

For Appellant: Shri Pankaj Bhalla, C.AFor Respondent: Shri Vivek Vardhan, Addl. CIT, Sr. DR
Section 144ASection 147Section 148Section 151Section 250Section 250(6)Section 270A

35. It was contended that such non-service of notice constituted a violation of the principles of natural justice and deprived the assessee of an effective opportunity to present his case. The Ld. AR further submitted that the reassessment proceedings initiated under section

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, LUDHIANA, LUDHIANA vs. OM SONS MARKETING PRIVATE LIMITED, QUILA CHOWK

The appeal of the assessee stand allowed whereas the revenue’s appeal stand dismissed accordingly

ITA 193/CHANDI/2025[2022-23]Status: DisposedITAT Chandigarh13 Jan 2026AY 2022-23

Bench: Hon’Ble Shri Rajpal Yadav & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकर अपील सं. / Ita No.48/Chandi/2025 (िनधा"रण वष" / Assessment Year: 2022-23) M/S Malbros International Pvt. Ltd. Dcit बनाम/ Village Mansoorwal Central Circle-2 Tehsil Zira Head Office Ludhiana Vs. Old Cantt Road, Faridkot – 151203 "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aadcm-7203-R (अपीलाथ"/Appellant) (""थ" / Respondent) : & 2. आयकर अपील सं. / Ita No.463/Chandi/2025 (िनधा"रण वष" / Assessment Year: 2022-23) Dcit M/S Malbros International Pvt. Ltd. बनाम/ Central Circle-2 Village Mansoorwal Ludhiana Tehsil Zira Head Office Vs. Old Cantt Road, Faridkot – 151203 "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aadcm-7203-R (अपीलाथ"/Appellant) (""थ" / Respondent) : & 3. आयकर अपील सं. / Ita No.49/Chandi/2025 (िनधा"रण वष" / Assessment Year: 2022-23) M/S Om Sons Marketing Pvt. Ltd. Dcit बनाम/ Quila Chowk, Old Cantt Road, Centre Circle-2 Vs. Faridkot, Punjab-151203 Ludhiana "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaaco-8962-E (अपीलाथ"/Appellant) : (""थ" / Respondent) & 4. आयकर अपील सं. / Ita No.193/Chandi/2025 (िनधा"रण वष" / Assessment Year: 2022-23)

For Appellant: Shri Sudhir Sehgal (Advocate) – Ld. ARFor Respondent: Sh. Abhishek Pal Garg (CIT) – Ld. DR (Virtual)
Section 143(3)Section 145(3)Section 251(2)Section 69C

reassessment u/s 147 r.w.s. 148 which is special mechanism for bringing to tax the income discovered in consequence of a search. Although Sec.148 (inserted w.e.f. 01.04.2021) does not begin with a non-obstante clause similar to the erstwhile section 153A, its context and Explanation-2 makes it clear that where a search is initiated, the jurisdiction thereafter must flow through

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, LUDHIANA, LUDHIANA vs. MALBROS INTERNATIONAL PVT LTD, TEHSIL ZIRA, FARIDKOT -151203, LUDHIANA

The appeal of the assessee stand allowed whereas the revenue’s appeal stand dismissed accordingly

ITA 463/CHANDI/2025[2022-23]Status: DisposedITAT Chandigarh13 Jan 2026AY 2022-23

Bench: Hon’Ble Shri Rajpal Yadav & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकर अपील सं. / Ita No.48/Chandi/2025 (िनधा"रण वष" / Assessment Year: 2022-23) M/S Malbros International Pvt. Ltd. Dcit बनाम/ Village Mansoorwal Central Circle-2 Tehsil Zira Head Office Ludhiana Vs. Old Cantt Road, Faridkot – 151203 "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aadcm-7203-R (अपीलाथ"/Appellant) (""थ" / Respondent) : & 2. आयकर अपील सं. / Ita No.463/Chandi/2025 (िनधा"रण वष" / Assessment Year: 2022-23) Dcit M/S Malbros International Pvt. Ltd. बनाम/ Central Circle-2 Village Mansoorwal Ludhiana Tehsil Zira Head Office Vs. Old Cantt Road, Faridkot – 151203 "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aadcm-7203-R (अपीलाथ"/Appellant) (""थ" / Respondent) : & 3. आयकर अपील सं. / Ita No.49/Chandi/2025 (िनधा"रण वष" / Assessment Year: 2022-23) M/S Om Sons Marketing Pvt. Ltd. Dcit बनाम/ Quila Chowk, Old Cantt Road, Centre Circle-2 Vs. Faridkot, Punjab-151203 Ludhiana "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaaco-8962-E (अपीलाथ"/Appellant) : (""थ" / Respondent) & 4. आयकर अपील सं. / Ita No.193/Chandi/2025 (िनधा"रण वष" / Assessment Year: 2022-23)

For Appellant: Shri Sudhir Sehgal (Advocate) – Ld. ARFor Respondent: Sh. Abhishek Pal Garg (CIT) – Ld. DR (Virtual)
Section 143(3)Section 145(3)Section 251(2)Section 69C

reassessment u/s 147 r.w.s. 148 which is special mechanism for bringing to tax the income discovered in consequence of a search. Although Sec.148 (inserted w.e.f. 01.04.2021) does not begin with a non-obstante clause similar to the erstwhile section 153A, its context and Explanation-2 makes it clear that where a search is initiated, the jurisdiction thereafter must flow through

MALBROS INTERNATIONAL PVT LTD, VILLAGE MANSOORWAL, TEHSIL ZIRA HEAD OFFICE, OLD CANTT ROAD, FARIDKOT,FARIDKOT vs. DCIT, CENTRAL CIRCLE-2, , LUDHIANA

The appeal of the assessee stand allowed whereas the revenue’s appeal stand dismissed accordingly

ITA 48/CHANDI/2025[2022-2023]Status: DisposedITAT Chandigarh13 Jan 2026AY 2022-2023

Bench: Hon’Ble Shri Rajpal Yadav & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकर अपील सं. / Ita No.48/Chandi/2025 (िनधा"रण वष" / Assessment Year: 2022-23) M/S Malbros International Pvt. Ltd. Dcit बनाम/ Village Mansoorwal Central Circle-2 Tehsil Zira Head Office Ludhiana Vs. Old Cantt Road, Faridkot – 151203 "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aadcm-7203-R (अपीलाथ"/Appellant) (""थ" / Respondent) : & 2. आयकर अपील सं. / Ita No.463/Chandi/2025 (िनधा"रण वष" / Assessment Year: 2022-23) Dcit M/S Malbros International Pvt. Ltd. बनाम/ Central Circle-2 Village Mansoorwal Ludhiana Tehsil Zira Head Office Vs. Old Cantt Road, Faridkot – 151203 "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aadcm-7203-R (अपीलाथ"/Appellant) (""थ" / Respondent) : & 3. आयकर अपील सं. / Ita No.49/Chandi/2025 (िनधा"रण वष" / Assessment Year: 2022-23) M/S Om Sons Marketing Pvt. Ltd. Dcit बनाम/ Quila Chowk, Old Cantt Road, Centre Circle-2 Vs. Faridkot, Punjab-151203 Ludhiana "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaaco-8962-E (अपीलाथ"/Appellant) : (""थ" / Respondent) & 4. आयकर अपील सं. / Ita No.193/Chandi/2025 (िनधा"रण वष" / Assessment Year: 2022-23)

For Appellant: Shri Sudhir Sehgal (Advocate) – Ld. ARFor Respondent: Sh. Abhishek Pal Garg (CIT) – Ld. DR (Virtual)
Section 143(3)Section 145(3)Section 251(2)Section 69C

reassessment u/s 147 r.w.s. 148 which is special mechanism for bringing to tax the income discovered in consequence of a search. Although Sec.148 (inserted w.e.f. 01.04.2021) does not begin with a non-obstante clause similar to the erstwhile section 153A, its context and Explanation-2 makes it clear that where a search is initiated, the jurisdiction thereafter must flow through

OM SONS MARKETING PRIVATE LIMITED,FARIDKOT vs. DCIT, CENTRE CIRCLE-2, , LUDHIANA

The appeal of the assessee stand allowed whereas the revenue’s appeal stand dismissed accordingly

ITA 49/CHANDI/2025[2022-23]Status: DisposedITAT Chandigarh13 Jan 2026AY 2022-23

Bench: Hon’Ble Shri Rajpal Yadav & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकर अपील सं. / Ita No.48/Chandi/2025 (िनधा"रण वष" / Assessment Year: 2022-23) M/S Malbros International Pvt. Ltd. Dcit बनाम/ Village Mansoorwal Central Circle-2 Tehsil Zira Head Office Ludhiana Vs. Old Cantt Road, Faridkot – 151203 "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aadcm-7203-R (अपीलाथ"/Appellant) (""थ" / Respondent) : & 2. आयकर अपील सं. / Ita No.463/Chandi/2025 (िनधा"रण वष" / Assessment Year: 2022-23) Dcit M/S Malbros International Pvt. Ltd. बनाम/ Central Circle-2 Village Mansoorwal Ludhiana Tehsil Zira Head Office Vs. Old Cantt Road, Faridkot – 151203 "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aadcm-7203-R (अपीलाथ"/Appellant) (""थ" / Respondent) : & 3. आयकर अपील सं. / Ita No.49/Chandi/2025 (िनधा"रण वष" / Assessment Year: 2022-23) M/S Om Sons Marketing Pvt. Ltd. Dcit बनाम/ Quila Chowk, Old Cantt Road, Centre Circle-2 Vs. Faridkot, Punjab-151203 Ludhiana "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaaco-8962-E (अपीलाथ"/Appellant) : (""थ" / Respondent) & 4. आयकर अपील सं. / Ita No.193/Chandi/2025 (िनधा"रण वष" / Assessment Year: 2022-23)

For Appellant: Shri Sudhir Sehgal (Advocate) – Ld. ARFor Respondent: Sh. Abhishek Pal Garg (CIT) – Ld. DR (Virtual)
Section 143(3)Section 145(3)Section 251(2)Section 69C

reassessment u/s 147 r.w.s. 148 which is special mechanism for bringing to tax the income discovered in consequence of a search. Although Sec.148 (inserted w.e.f. 01.04.2021) does not begin with a non-obstante clause similar to the erstwhile section 153A, its context and Explanation-2 makes it clear that where a search is initiated, the jurisdiction thereafter must flow through

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

ITA 818/CHANDI/2023[2015-16]Status: DisposedITAT Chandigarh25 Nov 2024AY 2015-16

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

Section 142(1)Section 143(2)Section 143(3)Section 246ASection 250(6)Section 253Section 263

reassessment proceedings, the assessee had claimed the deduction u/s 80IC on the profit of Haridwar unit. The NFAC has reduced the deduction on account of “cash discount earned” on the purchases made for the purpose of manufacturing by separately recording as income as “cash discount” which was clubbed under the head “Miscellaneous Income” instead of reducing the same from cost

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

ITA 177/CHANDI/2024[2013-14]Status: DisposedITAT Chandigarh25 Nov 2024AY 2013-14

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

Section 142(1)Section 143(2)Section 143(3)Section 246ASection 250(6)Section 253Section 263

reassessment proceedings, the assessee had claimed the deduction u/s 80IC on the profit of Haridwar unit. The NFAC has reduced the deduction on account of “cash discount earned” on the purchases made for the purpose of manufacturing by separately recording as income as “cash discount” which was clubbed under the head “Miscellaneous Income” instead of reducing the same from cost

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

ITA 748/CHANDI/2023[2010-11]Status: DisposedITAT Chandigarh25 Nov 2024AY 2010-11

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

Section 142(1)Section 143(2)Section 143(3)Section 246ASection 250(6)Section 253Section 263

reassessment proceedings, the assessee had claimed the deduction u/s 80IC on the profit of Haridwar unit. The NFAC has reduced the deduction on account of “cash discount earned” on the purchases made for the purpose of manufacturing by separately recording as income as “cash discount” which was clubbed under the head “Miscellaneous Income” instead of reducing the same from cost

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

ITA 817/CHANDI/2023[2014-15]Status: DisposedITAT Chandigarh25 Nov 2024AY 2014-15

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

Section 142(1)Section 143(2)Section 143(3)Section 246ASection 250(6)Section 253Section 263

reassessment proceedings, the assessee had claimed the deduction u/s 80IC on the profit of Haridwar unit. The NFAC has reduced the deduction on account of “cash discount earned” on the purchases made for the purpose of manufacturing by separately recording as income as “cash discount” which was clubbed under the head “Miscellaneous Income” instead of reducing the same from cost

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

ITA 794/CHANDI/2023[2016-17]Status: DisposedITAT Chandigarh25 Nov 2024AY 2016-17

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

Section 142(1)Section 143(2)Section 143(3)Section 246ASection 250(6)Section 253Section 263

reassessment proceedings, the assessee had claimed the deduction u/s 80IC on the profit of Haridwar unit. The NFAC has reduced the deduction on account of “cash discount earned” on the purchases made for the purpose of manufacturing by separately recording as income as “cash discount” which was clubbed under the head “Miscellaneous Income” instead of reducing the same from cost

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

ITA 84/CHANDI/2024[2020-21]Status: DisposedITAT Chandigarh25 Nov 2024AY 2020-21

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

Section 142(1)Section 143(2)Section 143(3)Section 246ASection 250(6)Section 253Section 263

reassessment proceedings, the assessee had claimed the deduction u/s 80IC on the profit of Haridwar unit. The NFAC has reduced the deduction on account of “cash discount earned” on the purchases made for the purpose of manufacturing by separately recording as income as “cash discount” which was clubbed under the head “Miscellaneous Income” instead of reducing the same from cost

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

ITA 795/CHANDI/2023[2017-18]Status: DisposedITAT Chandigarh25 Nov 2024AY 2017-18

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

Section 142(1)Section 143(2)Section 143(3)Section 246ASection 250(6)Section 253Section 263

reassessment proceedings, the assessee had claimed the deduction u/s 80IC on the profit of Haridwar unit. The NFAC has reduced the deduction on account of “cash discount earned” on the purchases made for the purpose of manufacturing by separately recording as income as “cash discount” which was clubbed under the head “Miscellaneous Income” instead of reducing the same from cost

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

ITA 796/CHANDI/2023[2018-19]Status: DisposedITAT Chandigarh25 Nov 2024AY 2018-19

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

Section 142(1)Section 143(2)Section 143(3)Section 246ASection 250(6)Section 253Section 263

reassessment proceedings, the assessee had claimed the deduction u/s 80IC on the profit of Haridwar unit. The NFAC has reduced the deduction on account of “cash discount earned” on the purchases made for the purpose of manufacturing by separately recording as income as “cash discount” which was clubbed under the head “Miscellaneous Income” instead of reducing the same from cost

M/S SINGLA BUILDERS AND PROMOTERS LIMITED,RUPNAGAR, PUNJAB vs. DCIT/ACIT(CEN)-1 CHD, CHANDIGARH

The appeals stand partly allowed

ITA 487/CHANDI/2025[2013-14]Status: DisposedITAT Chandigarh06 Feb 2026AY 2013-14

Bench: Hon’Ble Shri Rajpal Yadav & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकर अपील सं./ Ita No.487/Chandi/2025 (िनधा"रण वष" / Assessment Year: 2013-14) M/S Singla Builders & Promoters Ltd. Dcit / Acit Central-1 बनाम/ Plot No 1265, Sector 82, Industrial Area C.R. Building, Sector 17 Vs. Rupnagar (Punjab) 140308 Chandigarh-160017 "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaocs-6503-M (अपीलाथ"/Appellant) : (""थ" / Respondent) & 2. आयकर अपील सं. / Ita No.482/Chandi/2025 (िनधा"रण वष" / Assessment Year: 2017-18) & 3. आयकर अपील सं. / Ita No.484/Chandi/2025 (िनधा"रण वष" / Assessment Year: 2018-19) M/S Credo Assets Private Ltd. Dcit / Acit Central-1 बनाम/ Plot No 1265-C, Sector 82, Industrial Area C.R. Building, Sector 17 Vs. Rupnagar (Punjab) 140308 Chandigarh-160017 "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aafcc-6400-L (अपीलाथ"/Appellant) : (""थ" / Respondent) अपीलाथ"कीओरसे/ Appellant By : Sh. Parikshit Aggarwal (Ca) & Smt. Shruti Khandelwal (Ca) – Ld. Ars ""थ"कीओरसे/Respondent By : Smt. Kusum Bansal (Cit) & Shri Rajat Kumar Kureel (Cit) – Ld. Drs (Virtual) Date Of Final Hearing : 27-01-2026 Date Of Pronouncement : 03-02-2026

For Appellant: Sh. Parikshit Aggarwal (CA) & Smt. ShrutiFor Respondent: Smt. Kusum Bansal (CIT) & Shri Rajat Kumar
Section 127Section 132Section 142ASection 143(3)Section 153ASection 153BSection 69ASection 69B

reassessment. These amendments were to take effect from 01-10-2014. It was thus stated that the legislature specifically laid out emphasis on the limitation period to file report by the DVO. In the present case, the report was never served upon the assessee by DVO and secondly, the report was furnished to AO beyond 6 months from

M/S CREDO ASSETS PVT. LTD.,RUPNAGAR PUNJAB vs. DCIT/ACIT(CEN)-1 CHD, CHANDIGARH

The appeals stand partly allowed

ITA 482/CHANDI/2025[2017-18]Status: DisposedITAT Chandigarh06 Feb 2026AY 2017-18

Bench: Hon’Ble Shri Rajpal Yadav & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकर अपील सं./ Ita No.487/Chandi/2025 (िनधा"रण वष" / Assessment Year: 2013-14) M/S Singla Builders & Promoters Ltd. Dcit / Acit Central-1 बनाम/ Plot No 1265, Sector 82, Industrial Area C.R. Building, Sector 17 Vs. Rupnagar (Punjab) 140308 Chandigarh-160017 "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaocs-6503-M (अपीलाथ"/Appellant) : (""थ" / Respondent) & 2. आयकर अपील सं. / Ita No.482/Chandi/2025 (िनधा"रण वष" / Assessment Year: 2017-18) & 3. आयकर अपील सं. / Ita No.484/Chandi/2025 (िनधा"रण वष" / Assessment Year: 2018-19) M/S Credo Assets Private Ltd. Dcit / Acit Central-1 बनाम/ Plot No 1265-C, Sector 82, Industrial Area C.R. Building, Sector 17 Vs. Rupnagar (Punjab) 140308 Chandigarh-160017 "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aafcc-6400-L (अपीलाथ"/Appellant) : (""थ" / Respondent) अपीलाथ"कीओरसे/ Appellant By : Sh. Parikshit Aggarwal (Ca) & Smt. Shruti Khandelwal (Ca) – Ld. Ars ""थ"कीओरसे/Respondent By : Smt. Kusum Bansal (Cit) & Shri Rajat Kumar Kureel (Cit) – Ld. Drs (Virtual) Date Of Final Hearing : 27-01-2026 Date Of Pronouncement : 03-02-2026

For Appellant: Sh. Parikshit Aggarwal (CA) & Smt. ShrutiFor Respondent: Smt. Kusum Bansal (CIT) & Shri Rajat Kumar
Section 127Section 132Section 142ASection 143(3)Section 153ASection 153BSection 69ASection 69B

reassessment. These amendments were to take effect from 01-10-2014. It was thus stated that the legislature specifically laid out emphasis on the limitation period to file report by the DVO. In the present case, the report was never served upon the assessee by DVO and secondly, the report was furnished to AO beyond 6 months from