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

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

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

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

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

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

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

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

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

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

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

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

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, - 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)

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

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

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, CC-I, CHANDIGARH , CHANDIGARH vs. VALCO INDUSTRIES LTD., , CHANDIGARH

In the result, the appeal of the Revenue is dismissed

Bench: The Hon'Ble Punjab & Haryana High Court? Ii) Whether On The Facts & Circumstances Of The Case & In Law, Ld. Cit(A) Is Right Holding Such Consequential Order As Void An Initio Ignoring The Facts That Order Passed By Ld. Pcit (Central), Gurugram U/S 263 Has Not Attained Its Finality? Iii) Whether On The Facts & In Circumstances Of The Case & In Law, The Ld. Cit(A) Was Right In Holding That Consequential Order Passed U/S 147 R.W.S. 263 Of The Act As Void As Initio Without Giving Any Liberty To The Revenue To Revive The Proceedings Consequent To Any Directions Or Order

deduction u/s 80IC when assessee came up in appeal before the ITAT after the AO had invoked his powers of reassessment u/s 147

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

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

147 of the Act, by preferring an appeal before CIT(A). The CIT(A) by the “impugned order” dt. 27/07/2022 however quashed the reassessment proceedings as being bad in law and not sustainable. Since the reassessment proceedings itself was quashed, no specific finding was rendered by the CIT(A) on merits on the issue of disallowance of claim

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

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

u/s 148 has been obtained separately from Principal Commissioner of Income Tax as per the provisions of section 151 of the Act." 22. It was submitted that the issue of bogus purchases from M/s Rohit Traders was never in the knowledge of the AO in earlier round of assessment. It was a new information which came into his possession from

SIKANDER SINGH MALUKA,MOHALI vs. ITO, MOHALI

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

Bench: Shri Sanjay Garg & Ms. Annapurna Guptathe I.T.O., Vs. Sh.Sikandar Singh Maluka, Ward 5(1), # 1370, Sector 40-B, Chandigarh. Chandigarh Pan: Abzpm7206N & Sh.Sikandar Singh Maluka, Vs. The I.T.O., # 1370, Sector 40-B, Ward 5(2), Chandigarh. Chandigarh Pan: Abzpm7206N

reassessment proceedings initiated vide notice dated 26-03-14,and the same have not been controverted before us. Therefore, what follows is that, prior to the notice issued u/s 148 on 26.3.2014, in consequence of which the present assessment u/s 147 was framed on the assessee, no proceeding which was valid in the eyes of law, had taken place

SHRI MOHAN LAL GUPTA,SHIMLA vs. PR.CIT-1, CHANDIGARH

In the result, appeal of the Assessee is partly allowed

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

deduction u/s 54F of the Act, we find that the same are clearly emerging from the reassessment order passed u/s 143(3) r/w 147

SATISH KATOCH,PALAMPUR vs. ITO, PALAMPUR

The appeal of the assessee is dismissed

Bench: The A.O. U/S 154 Of The Act Against

reassessment. Assessee's contention that if no' interest has been charged u/s 143(1) or regular assessment, than interest cannot be charged u/s 234B is not correct and hence rejected. Explanation 2 to section 234B(1J clearly says that "where in relation to an assessment year, an assessment is made for 4 A.Y.2007-08 the 1st time under section 147

ETHIX HEALTHCARE,CHANDIGARH vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE , PARWANOO

In the result, both on the exercise of jurisdiction u/s 147 and on merits of the case, the order of the AO as well as the ld CIT(A) is hereby set-aside and matter is decided in favour of the assessee

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

deduction u/s 80IC and therefore, there cannot be further disallowance of the said amount again during the reassessment proceedings. 13. We therefore agree with the contention of the ld AR that the AO has erred in exercise of jurisdiction u/s 147

M/S VARDHMAN POLYTEX LTD.,LUDHIANA vs. ACIT, LUDHIANA

In the result, Assessee’s appeal is dismissed

Bench: Shri Rajpal Yadav & Shri Krinwant Sahay

147 and issued the notice u/s 148 on 24-3-2009 which was served on the assessee on 25-3-2009. AR has objected to reopening of assessment for the reason stated by him in written submission dated 15-9-2010 and 23- 2-2011. AR's objections against of reopening of assessment are not acceptable. AR has objected

DAXEN AGRITECH INDIA PVT. LTD.,BADDI vs. ACIT, CIRCLE, PARWANOO

In the result, all the above appeals of the Assessee are dismissed

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

deduction u/s 80-IC of Rs. 3,60,35,565/-, which was processed u/s 143(1). Subsequently, reassessment proceedings were initiated by issuing notice u/s 148 dated 19.03.2018 and assessment was completed u/s 143(3) r.w.s. 147

DAXEN AGRITECH INDIA PVT. LTD.,BADDI vs. ACIT, CIRCLE, PARWANOO

In the result, all the above appeals of the Assessee are dismissed

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

deduction u/s 80-IC of Rs. 3,60,35,565/-, which was processed u/s 143(1). Subsequently, reassessment proceedings were initiated by issuing notice u/s 148 dated 19.03.2018 and assessment was completed u/s 143(3) r.w.s. 147

DAXEN AGRITECH INDIA PVT. LTD.,BADDI vs. ACIT, CIRCLE, PARWANOO

In the result, all the above appeals of the Assessee are dismissed

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

deduction u/s 80-IC of Rs. 3,60,35,565/-, which was processed u/s 143(1). Subsequently, reassessment proceedings were initiated by issuing notice u/s 148 dated 19.03.2018 and assessment was completed u/s 143(3) r.w.s. 147