RAJESH AGGARWAL ,DEHRADUN vs. THE DEPUTY COMMISSIONER OF INCOME TAX OFFICER, CENTRAL CIRCLE, DEHRADUN

In the result, all the appeals of the assessee are allowed

disallowance of interest on such loans. Hence, the earlier assessment years for assessment years 2011-12 to 2015-16 cannot be disturbed at all by learned AO while framing the search assessments under section 153A of the Act. This issue is no longer res integra in view of the recent decision of the Hon’ble Supreme Court in case

B G EXPLORATION & PRODUCTION INDIA LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME, DDIT/ ADIT (INTERNATIONAL TAXATION), CIRCLE-1, DEHRADUN, DEHRADUN

In the result, both the appeals of the assessee are allowed

Bench: Sh. Kul Bharatdr. B. R. R. Kumar

disallowance on account of obsolete inventory written off ought to be deleted. 51. The above principle has also been upheld in the following cases: • IAC v/s. Consolidated Pneumatic Tool Co. (India) Ltd. (15 ITD 564) (ITAT Bom) • CIT v/s. Wolkem India Ltd. (221CTR 767) (Raj. HC) • Emersons Process Management India (P.) Ltd v/s. ACIT (13 taxmann.com 149

B G EXPLORATION & PRODUCTION INDIA LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME, DDIT/ ADIT (INTERNATIONAL TAXATION), CIRCLE-1, DEHRADUN, DEHRADUN, UTTARAKHAND

In the result, both the appeals of the assessee are allowed

Bench: Sh. Kul Bharatdr. B. R. R. Kumar

disallowance on account of obsolete inventory written off ought to be deleted. 51. The above principle has also been upheld in the following cases: • IAC v/s. Consolidated Pneumatic Tool Co. (India) Ltd. (15 ITD 564) (ITAT Bom) • CIT v/s. Wolkem India Ltd. (221CTR 767) (Raj. HC) • Emersons Process Management India (P.) Ltd v/s. ACIT (13 taxmann.com 149

INCOME TAX OFFICER, WARD-1(1)(3), DEHRADUN, AAYKAR BHAWAN, SUBHASH ROAD, DEHRADUN vs. UTTARAKHAND PURV SAINIK KALYAN NIGAM LIMITED, STATION SUB AREA

In the result, appeal of the assessee is allowed

Bench: Sh. Yogesh Kumar U.S. & Sh. Manish Agarwal

disallowed and added back to its total income.” 4. Aggrieved by the assessment order dated 30.03.2017, Assessee preferred an Appeal before the ld. CIT(A). The ld. CIT(A) vide order dated 27.01.2024,allowed the appeal of the assessee.As against the order of the ld. CIT(A), Assessee preferred the present appeal. 5. The ld. DR submitted that

B R MORDEM SCHOOL SAMITI,PAURI vs. I T O, EXEMPTION WARD DEHRADUN, DEHRADUN

In the result, the appeal of the assessee is allowed

section 10(23C)(iiiad) and the corpus\ndonation received with specific direction to develop infrastructure\nfacilities is a capital receipts. Therefore, Ld.AR requested that the\nassessee's society be grant the exemption u/s 10(23C)(iiiad) of the\nAct since its annual receipts are less than Rs.1.00 crores which is\nthe threshold limit for claiming exemption u/s 10(23C)(iiiad