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3 results for “section 68”+ Section 5A(4)clear

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Key Topics

Section 271(1)(c)6Section 694Section 115B3Section 35(1)(i)3Section 35(1)3Section 271(1)3Addition to Income3Section 682Section 69A2

SH. CHETAN JAIN,LUDHIANA vs. DCIT, LUDHIANA

In the result, the appeal of the assessee is dismissed

ITA 256/CHANDI/2017[2010-11]Status: DisposedITAT Chandigarh04 Jul 2018AY 2010-11

Bench: Shri Sanjay Garg & Ms. Annapurna Guptash.Chetan Jain, Vs. The D.C.I.T., B-121, Pushap Vihar, Central Circle-Iii, Canal Road, Ludhiana. Ludhiana. Pan: Aaypj0618H (Appellant) (Respondent)

For Appellant: NoneFor Respondent: Smt.Chanderkanta, Addl. CIT
Section 132Section 132(4)Section 153ASection 271(1)Section 271(1)(c)

section 132(4) r.w.s. 271AAA(4)(b) of the Act. The Assessing Officer also held that the assessee having not disclosed the surrendered income in the original return of income filed, the disclosure in the return filed subsequent to search was only after detection of concealment and the assessees contention that no penalty was leviable since returned income

SH. KRISHAN KUMAR,KHANNA vs. DCIT, CC-1, LUDHIANA

In the result, the appeal of the Assessee is allowed

ITA 175/CHANDI/2023[2019-20]Status: DisposedITAT Chandigarh04 Jan 2024AY 2019-20

Bench: Shri A.D. Jain & Shri Vikram Singh Yadav

For Appellant: Shri Sudhir Sehgal, AdvFor Respondent: Shri Anil Sharma, JCIT, Sr.DR
Section 115BSection 133ASection 139Section 143(1)Section 143(2)Section 68Section 69Section 69ASection 69BSection 69C

4. Further during the survey u/s 133A on 24.1.2019, cash of Rs. 11,88,760/- was found whereas the cash in hand available, as per the books of account, was Rs. 10,54,756/. The Assessee was asked to explain the excess cash of Rs. 1,34,004/- but the Assessee had merely presented a chart vide which utilization

IND SWIFT LABORATORIES LTD.,CHANDIGARH vs. DCIT, CIRCLE 1(1), CHANDIGARH

In the result, the appeal is allowed, as indicated

ITA 350/CHANDI/2023[2017-18]Status: DisposedITAT Chandigarh04 Jun 2024AY 2017-18

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

For Appellant: Shri T.N.Singla, C.AFor Respondent: Shri Rohit Sharma, CIT-DR
Section 250Section 35Section 35(1)Section 35(1)(i)Section 35(2)

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