ACIT, CHANDIGARH vs. M/S GLAXO SMITHKLINE ASIA PVT. LTD., GURGAON

In the result, all the appeals of the assessee and the Revenue, stand partly allowed for statistical purposes

79,000/- is allowed.” 5. Since the issue already stands adjudicated as above in the preceding assessment year, A.Y. 2005-06, the decision rendered therein will apply to the issue in all the remaining years concerned. Accordingly, the issues of disallowance of provision of stock obsolescence stands decided in favour of the assessee. ISSUE No.2 Disallowance

M/S GLAXOSMITHKLINE ASIA PVT. LTD.,GURGAON vs. ACIT, CHANDIGARH

In the result, all the appeals of the assessee and the Revenue, stand partly allowed for statistical purposes

79,000/- is allowed.” 5. Since the issue already stands adjudicated as above in the preceding assessment year, A.Y. 2005-06, the decision rendered therein will apply to the issue in all the remaining years concerned. Accordingly, the issues of disallowance of provision of stock obsolescence stands decided in favour of the assessee. ISSUE No.2 Disallowance

M/S GLAXO SMITHKLINE ASIA PVT. LTD.,GURGAON vs. ACIT, C-4(1), CHANDIGARH

In the result, all the appeals of the assessee and the Revenue, stand partly allowed for statistical purposes

79,000/- is allowed.” 5. Since the issue already stands adjudicated as above in the preceding assessment year, A.Y. 2005-06, the decision rendered therein will apply to the issue in all the remaining years concerned. Accordingly, the issues of disallowance of provision of stock obsolescence stands decided in favour of the assessee. ISSUE No.2 Disallowance

ACIT, CHANDIGARH vs. M/S GLAXO SMITHKLINE ASIA PVT. LTD., GURGAON

In the result, all the appeals of the assessee and the Revenue, stand partly allowed for statistical purposes

79,000/- is allowed.” 5. Since the issue already stands adjudicated as above in the preceding assessment year, A.Y. 2005-06, the decision rendered therein will apply to the issue in all the remaining years concerned. Accordingly, the issues of disallowance of provision of stock obsolescence stands decided in favour of the assessee. ISSUE No.2 Disallowance

ACIT, CHANDIGARH vs. M/S GLAXO SMITHKLINE ASIA PVT. LTD., GURGAON

In the result, all the appeals of the assessee and the Revenue, stand partly allowed for statistical purposes

79,000/- is allowed.” 5. Since the issue already stands adjudicated as above in the preceding assessment year, A.Y. 2005-06, the decision rendered therein will apply to the issue in all the remaining years concerned. Accordingly, the issues of disallowance of provision of stock obsolescence stands decided in favour of the assessee. ISSUE No.2 Disallowance

GLAXOSMITHKLINE ASIA PVT. LTD.,GURGAON vs. ACIT, CHANDIGARH

In the result, all the appeals of the assessee and the Revenue, stand partly allowed for statistical purposes

79,000/- is allowed.” 5. Since the issue already stands adjudicated as above in the preceding assessment year, A.Y. 2005-06, the decision rendered therein will apply to the issue in all the remaining years concerned. Accordingly, the issues of disallowance of provision of stock obsolescence stands decided in favour of the assessee. ISSUE No.2 Disallowance

M/S GLAXO SMITHKLINE ASIA PVT. LTD.,NABHA vs. DCIT, C-4(1), CHANDIGARH

In the result, all the appeals of the assessee and the Revenue, stand partly allowed for statistical purposes

79,000/- is allowed.” 5. Since the issue already stands adjudicated as above in the preceding assessment year, A.Y. 2005-06, the decision rendered therein will apply to the issue in all the remaining years concerned. Accordingly, the issues of disallowance of provision of stock obsolescence stands decided in favour of the assessee. ISSUE No.2 Disallowance

GLAXOSMITHKLINE ASIA PVT. LTD.,GURGAON vs. ACIT, CHANDIGARH

In the result, all the appeals of the assessee and the Revenue, stand partly allowed for statistical purposes

79,000/- is allowed.” 5. Since the issue already stands adjudicated as above in the preceding assessment year, A.Y. 2005-06, the decision rendered therein will apply to the issue in all the remaining years concerned. Accordingly, the issues of disallowance of provision of stock obsolescence stands decided in favour of the assessee. ISSUE No.2 Disallowance

GLAXOSMITHKLINE ASIA PVT. LTD.,GURGAON vs. DCIT, CHANDIGARH

In the result, all the appeals of the assessee and the Revenue, stand partly allowed for statistical purposes

79,000/- is allowed.” 5. Since the issue already stands adjudicated as above in the preceding assessment year, A.Y. 2005-06, the decision rendered therein will apply to the issue in all the remaining years concerned. Accordingly, the issues of disallowance of provision of stock obsolescence stands decided in favour of the assessee. ISSUE No.2 Disallowance

GLAXOSMITHKLINE ASIA PVT. LTD.,GURGAON vs. DCIT, CHANDIGARH

In the result, all the appeals of the assessee and the Revenue, stand partly allowed for statistical purposes

79,000/- is allowed.” 5. Since the issue already stands adjudicated as above in the preceding assessment year, A.Y. 2005-06, the decision rendered therein will apply to the issue in all the remaining years concerned. Accordingly, the issues of disallowance of provision of stock obsolescence stands decided in favour of the assessee. ISSUE No.2 Disallowance

M/S GLAXO SMITHKLINE ASIA PVT. LTD.,GURGAON vs. ACIT, C-4(1), CHANDIGARH

In the result, all the appeals of the assessee and the Revenue, stand partly allowed for statistical purposes

79,000/- is allowed.” 5. Since the issue already stands adjudicated as above in the preceding assessment year, A.Y. 2005-06, the decision rendered therein will apply to the issue in all the remaining years concerned. Accordingly, the issues of disallowance of provision of stock obsolescence stands decided in favour of the assessee. ISSUE No.2 Disallowance

JANTA LAND PROMOTERS PVT LTD,MOHALI vs. THE PRINICIPAL COMMISSIONER OF INCOME TAX ,CHANDIGARH-1, CHANDIGARH

In the result, appeal of the Assessee is allowed

Pricing / MAT. 3. The Ld. AR had submitted that pursuant to the show cause notice issued by the Ld. PCIT the assessee had submitted the reply, which was reproduced at page 8 of the impugned order as under: 1) Issue No.2.1 at para 2 of the show cause notice: 2.1 The Assessing Officer(AO) wrongly allowed the Development Expense provision

MAXPORT INDIA PRIVATE LIMITED,CHANDIGARH vs. DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1,CHANDIGARH, CHANDIGARH

price fluctuations. The reliance in\nthis respect can be placed on the following decisions:\n“(i) [Assistant Commissioner of Income Tax, Central Circle-1(3), Kolkata v. Narula\nEducational Trust [2021] 126 taxmann.com 158 (Kolkata - Trib.)\n(ii) Champaklal S. Kasat v. Deputy Commissioner of Income-tax, Cent. Cir. 1(3),\nAhmedabad [2017] 82 taxmann.com 243 (Ahmedabad - Trib

ACIT,CIRCLE-1, LUDHIANA vs. M/S VARDHMAN TEXTILES LTD., LUDHIANA

In the result, appeals of the Assessee are partly allowed whereas the Cross appeals of the Revenue are dismissed

Bench: SHRI. AAKASH DEEP JAIN (Vice President), SHRI. SHRI. KRINWANT SAHAY (Accountant Member)

79,624/- made by the assessee was subtracted, to arrive at final balance disallowance of Rs. 14,98,15,974/-. When the Ld. CIT(A) directed the amended provision of Rule 8D to be applied, the disallowance got to be calculated at Rs. 3,14,83,443/-. It remains undisputed that no fault with the suo-moto disallowance made

VARDHMAN TEXTILES LIMITED,LUDHIANA vs. ACIT-CIRCLE-1, LUDHIANA

In the result, appeals of the Assessee are partly allowed whereas the Cross appeals of the Revenue are dismissed

Bench: SHRI. AAKASH DEEP JAIN (Vice President), SHRI. SHRI. KRINWANT SAHAY (Accountant Member)

79,624/- made by the assessee was subtracted, to arrive at final balance disallowance of Rs. 14,98,15,974/-. When the Ld. CIT(A) directed the amended provision of Rule 8D to be applied, the disallowance got to be calculated at Rs. 3,14,83,443/-. It remains undisputed that no fault with the suo-moto disallowance made

M/S VARDHMAN TEXTILES LIMITED,LUDHIANA vs. ACIT, C-1, LUDHIANA

In the result, appeals of the Assessee are partly allowed whereas the Cross appeals of the Revenue are dismissed

Bench: SHRI. AAKASH DEEP JAIN (Vice President), SHRI. SHRI. KRINWANT SAHAY (Accountant Member)

79,624/- made by the assessee was subtracted, to arrive at final balance disallowance of Rs. 14,98,15,974/-. When the Ld. CIT(A) directed the amended provision of Rule 8D to be applied, the disallowance got to be calculated at Rs. 3,14,83,443/-. It remains undisputed that no fault with the suo-moto disallowance made

DCIT, C-1, LUDHIANA vs. M/S VARDHMAN TEXTILES LIMITED, LUDHIANA

In the result, appeals of the Assessee are partly allowed whereas the Cross appeals of the Revenue are dismissed

Bench: SHRI. AAKASH DEEP JAIN (Vice President), SHRI. SHRI. KRINWANT SAHAY (Accountant Member)

79,624/- made by the assessee was subtracted, to arrive at final balance disallowance of Rs. 14,98,15,974/-. When the Ld. CIT(A) directed the amended provision of Rule 8D to be applied, the disallowance got to be calculated at Rs. 3,14,83,443/-. It remains undisputed that no fault with the suo-moto disallowance made

M/S VARDHMAN TEXTILES LIMITED,LUDHIANA vs. DCIT, C-1, LUDHIANA

In the result, appeals of the Assessee are partly allowed whereas the Cross appeals of the Revenue are dismissed

Bench: SHRI. AAKASH DEEP JAIN (Vice President), SHRI. SHRI. KRINWANT SAHAY (Accountant Member)

79,624/- made by the assessee was subtracted, to arrive at final balance disallowance of Rs. 14,98,15,974/-. When the Ld. CIT(A) directed the amended provision of Rule 8D to be applied, the disallowance got to be calculated at Rs. 3,14,83,443/-. It remains undisputed that no fault with the suo-moto disallowance made