SHRI BHUWAN GOYAL,LUDHIANA vs. DCIT, CC-1, LUDHIANA

In the result, appeal of the assessee is allowed

68, 69, 69A, 69B, 69C or 69D reflected in the return of income furnished under section 139 of the Act. However, in the present case no such income was reflected in the return filed under section 139 of the Act rather the income was declared in the return filed under section 153A of the Act after

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)

68 suffer from any factual or legal infirmity. Accordingly, the High Court dismissed the appeal" (Placitum 13, Pg 7) (ii). Before the Supreme Court, the issue which arose was whether loan given by the assessee company to its sister concern would disentitle the assessee company from debiting the interest paid to the banks as revenue expenditure. The Supreme Court held

PUNJAB BEVERAGES PVT. LTD.,PATIALA vs. DCIT, CIRCLE, PATIALA

Bench: Shri Sanjay Garg & Smt.Annapurna Guptaआयकर अपील सं./ Ita No.438/Chd/2018 "नधा"रण वष" / Assessment Year : 2001-02

1) CIT Vs. City Financial Consumer Finance India Pvt. Ltd. in ITA No 275/2015 dated 17.7.2015 (Del). 2) Classic Share & stock Broking Services Ltd. Vs. ACIT, 216 Taxman 238 (Bom). 11. The Ld. counsel for assessee filed a brief synopsis of his submissions before us which is reproduced hereunder: A. Issue - Order of assessment dated 23rd March

DCIT, CIRCLE, PATIALA vs. M/S PUNJAB BEVERAGES PVT. LTD., PATIALA

Bench: Shri Sanjay Garg & Smt.Annapurna Guptaआयकर अपील सं./ Ita No.438/Chd/2018 "नधा"रण वष" / Assessment Year : 2001-02

1) CIT Vs. City Financial Consumer Finance India Pvt. Ltd. in ITA No 275/2015 dated 17.7.2015 (Del). 2) Classic Share & stock Broking Services Ltd. Vs. ACIT, 216 Taxman 238 (Bom). 11. The Ld. counsel for assessee filed a brief synopsis of his submissions before us which is reproduced hereunder: A. Issue - Order of assessment dated 23rd March

TARLOCHAN SINGH ,BHAWANIGARH vs. DCIT, CENTRAL CIRCLE, PATIALA

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

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

68 of Income Tax Act 1961 but if such income from undisclosed sources, though, invested had not been recorded in the assessee's books, than such income is liable to be assessed in terms of section 69 of Income Tax Act 1961. vii. In Roshan Lal Madan VS CIT 245 ITR (AT) 36 (Chandigarh) AND Jagmohan Ram Ram Chandra

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-I, CHANDIGARH , CHANDIGARH vs. MS SCOTT EDIL ADVANCE RESEARCH LABORATOTRIES AND EDUCATION LTD., , CHANDIGARH

Section 132 of the Act in Scott Edil Group of cases\non 15.11.2017. Since the facts involved in all these captioned appeals\nare identical and there are common issues, hence the same were heard\ntogether and the same are being disposed of by this common order.\n2. The grounds/issues raised in all the appeals are summarized as\nunder :\nITA

SCOTT EDIL ADVANCE RESEARCH LABORATORIES AND EDUCATION LIMITED,CHANDIGARH vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, CHANDIGARH

Section 132 of the Act in Scott Edil Group of cases\non 15.11.2017. Since the facts involved in all these captioned appeals\nare identical and there are common issues, hence the same were heard\ntogether and the same are being disposed of by this common order.\n2. The grounds/issues raised in all the appeals are summarized as\nunder :\nITA

DCIT, CHANDIGARH vs. CHANDIGARH HOUSING BOARD, CHANDIGARH

In the result, the appeal of the Revenue is dismissed

68,743/-. The assessee carried the matter in appeal before the Ld.CIT(A) where he pleaded that non-disclosure of the said interest income was under the bonafide belief that the said interest income was not the income of the assessee at all as the funds on which it accrued, was believed to be kept by it in the capacity

DCIT,CIRCLE-1(EXEMPTION), CHANDIGARH vs. M/S MANAV MANGAL SCHOOL( MANAV MANGAL SOCIETY), CHANDIGARH

In the result, all the appeals of the assessee are allowed and all the appeals of the department are dismissed

section 13(1)(c) is to judge the reasonableness of the payments made to the members of the society and secondly and more importantly, there is no finding of the AO that the society is not working towards the objects of education etc. as defined in its Memorandum and Rules and Regulations. No case of siphoning

DCIT, C-1, (E), CHANDIGARH vs. M/S MANAV MANGAL SOCIETY, CHANDIGARH

In the result, all the appeals of the assessee are allowed and all the appeals of the department are dismissed

section 13(1)(c) is to judge the reasonableness of the payments made to the members of the society and secondly and more importantly, there is no finding of the AO that the society is not working towards the objects of education etc. as defined in its Memorandum and Rules and Regulations. No case of siphoning

DCIT, C-1, (E), CHANDIGARH vs. M/S MANAV MANGAL SOCIETY, CHANDIGARH

In the result, all the appeals of the assessee are allowed and all the appeals of the department are dismissed

section 13(1)(c) is to judge the reasonableness of the payments made to the members of the society and secondly and more importantly, there is no finding of the AO that the society is not working towards the objects of education etc. as defined in its Memorandum and Rules and Regulations. No case of siphoning

DCIT, C-1, (E), CHANDIGARH vs. M/S MANAV MANGAL SOCIETY, CHANDIGARH

In the result, all the appeals of the assessee are allowed and all the appeals of the department are dismissed

section 13(1)(c) is to judge the reasonableness of the payments made to the members of the society and secondly and more importantly, there is no finding of the AO that the society is not working towards the objects of education etc. as defined in its Memorandum and Rules and Regulations. No case of siphoning

DCIT, C-1, (E), CHANDIGARH vs. M/S MANAV MANGAL SOCIETY, CHANDIGARH

In the result, all the appeals of the assessee are allowed and all the appeals of the department are dismissed

section 13(1)(c) is to judge the reasonableness of the payments made to the members of the society and secondly and more importantly, there is no finding of the AO that the society is not working towards the objects of education etc. as defined in its Memorandum and Rules and Regulations. No case of siphoning

M/S MANAV MANGAL SOCIETY,CHANDIGARH vs. DCIT, C-1, (E), CHANDIGARH

In the result, all the appeals of the assessee are allowed and all the appeals of the department are dismissed

section 13(1)(c) is to judge the reasonableness of the payments made to the members of the society and secondly and more importantly, there is no finding of the AO that the society is not working towards the objects of education etc. as defined in its Memorandum and Rules and Regulations. No case of siphoning

DCIT, C-1, (E), CHANDIGARH vs. M/S MANAV MANGAL SOCIETY, CHANDIGARH

In the result, all the appeals of the assessee are allowed and all the appeals of the department are dismissed

section 13(1)(c) is to judge the reasonableness of the payments made to the members of the society and secondly and more importantly, there is no finding of the AO that the society is not working towards the objects of education etc. as defined in its Memorandum and Rules and Regulations. No case of siphoning

M/S MANAV MANGAL SOCIETY,CHANDIGARH vs. DCIT, C-1, (E), CHANDIGARH

In the result, all the appeals of the assessee are allowed and all the appeals of the department are dismissed

section 13(1)(c) is to judge the reasonableness of the payments made to the members of the society and secondly and more importantly, there is no finding of the AO that the society is not working towards the objects of education etc. as defined in its Memorandum and Rules and Regulations. No case of siphoning

ACIT -CENTRAL CIRCLE-1,, LUDHIANA vs. M/S OSWAL TRENDS PVT. LTD., LUDHIANA

In the result, this appeal of the Revenue stands dismissed

Bench: Shri Sanjay Garg & Shri Krinwant Sahay

251. The Revenue in this appeal is aggrieved by the action of the Ld. Commissioner of Income Tax (Appeals)-5, Ludhiana [hereinafter referred to as the ‘ld. CIT(A)’] in deleting the addition of Rs.8,95,50,000/- made by the AO under Section 68 of the Income Tax Act, 1961 by treating the share application/share premium received

ACIT, CENTRAL CIRCLE -1,, LUDHIANA vs. M/S OSWAL APPARELS PVT. LTD., LUDHIANA

In the result, this appeal of the Revenue stands dismissed

Bench: Shri Sanjay Garg & Shri Krinwant Sahay

251. The Revenue in this appeal is aggrieved by the action of the Ld. Commissioner of Income Tax (Appeals)-5, Ludhiana [hereinafter referred to as the ‘ld. CIT(A)’] in deleting the addition of Rs.8,95,50,000/- made by the AO under Section 68 of the Income Tax Act, 1961 by treating the share application/share premium received

M/S OSWAL TREND (P) LTD.,LUDHIANA vs. DCIT, C. C.-1, LUDHIANA

In the result, this appeal of the Revenue stands dismissed

Bench: Shri Sanjay Garg & Shri Krinwant Sahay

251. The Revenue in this appeal is aggrieved by the action of the Ld. Commissioner of Income Tax (Appeals)-5, Ludhiana [hereinafter referred to as the ‘ld. CIT(A)’] in deleting the addition of Rs.8,95,50,000/- made by the AO under Section 68 of the Income Tax Act, 1961 by treating the share application/share premium received