GREENWOOD RESORTS PRIVATE LIMITED,GUWAHATI vs. DEPUTY COMMISSIONER OF INCOME TAX, GUWAHATI

In the result, ITA No. 114/GTY/2024 for AY 2017-18 is partly allowed for statistical purposes

Bench: Shri Manomohan Das & Shri Rakesh Mishra

section as presumed by AO has come into operation from 01-04-2017 whereas transaction relates to earlier year so it does not come within the definition of incriminating material and has no effect on determination of our taxable income. 8. That Sir, it can be looked also from another angle i.e. after initiating the proceeding what has happed

GREENWOOD RESORTS PRIVATE LIMITED,GUWAHATI vs. DEPUTY COMMISSIONER OF INCOME TAX, GUWAHATI

In the result, ITA No. 114/GTY/2024 for AY 2017-18 is partly allowed for statistical purposes

Bench: Shri Manomohan Das & Shri Rakesh Mishra

section as presumed by AO has come into operation from 01-04-2017 whereas transaction relates to earlier year so it does not come within the definition of incriminating material and has no effect on determination of our taxable income. 8. That Sir, it can be looked also from another angle i.e. after initiating the proceeding what has happed

GREENWOOD RESORTS PRIVATE LIMITED,GUWAHATI vs. DEPUTY COMMISSIONER OF INCOME TAX, GUWAHATI

In the result, ITA No. 114/GTY/2024 for AY 2017-18 is partly allowed for statistical purposes

Bench: Shri Manomohan Das & Shri Rakesh Mishra

section as presumed by AO has come into operation from 01-04-2017 whereas transaction relates to earlier year so it does not come within the definition of incriminating material and has no effect on determination of our taxable income. 8. That Sir, it can be looked also from another angle i.e. after initiating the proceeding what has happed

GREENWOOD RESORTS PRIVATE LIMITED,GUWAHATI vs. DEPUTY COMMISSIONER OF INCOME TAX, GUWAHATI

In the result, ITA No. 114/GTY/2024 for AY 2017-18 is partly allowed for statistical purposes

Bench: Shri Manomohan Das & Shri Rakesh Mishra

section as presumed by AO has come into operation from 01-04-2017 whereas transaction relates to earlier year so it does not come within the definition of incriminating material and has no effect on determination of our taxable income. 8. That Sir, it can be looked also from another angle i.e. after initiating the proceeding what has happed

GREENWOOD RESORTS PRIVATE LIMITED,GUWAHATI vs. DEPUTY COMMISSIONER OF INCOME TAX, GUWAHATI

In the result, ITA No. 114/GTY/2024 for AY 2017-18 is partly allowed for statistical purposes

Bench: Shri Manomohan Das & Shri Rakesh Mishra

section as presumed by AO has come into operation from 01-04-2017 whereas transaction relates to earlier year so it does not come within the definition of incriminating material and has no effect on determination of our taxable income. 8. That Sir, it can be looked also from another angle i.e. after initiating the proceeding what has happed

GREENWOOD RESORTS PRIVATE LIMITED,GUWAHATI vs. DEPUTY COMMISSIONER OF INCOME TAX, GUWAHATI

In the result, ITA No. 114/GTY/2024 for AY 2017-18 is partly allowed for statistical purposes

Bench: Shri Manomohan Das & Shri Rakesh Mishra

section as presumed by AO has come into operation from 01-04-2017 whereas transaction relates to earlier year so it does not come within the definition of incriminating material and has no effect on determination of our taxable income. 8. That Sir, it can be looked also from another angle i.e. after initiating the proceeding what has happed

GREENWOOD RESORTS PRIVATE LIMITED,GUWAHATI vs. DEPUTY COMMISSIONER OF INCOME TAX, GUWAHATI

In the result, ITA No. 114/GTY/2024 for AY 2017-18 is partly allowed for statistical purposes

Bench: Shri Manomohan Das & Shri Rakesh Mishra

section as presumed by AO has come into operation from 01-04-2017 whereas transaction relates to earlier year so it does not come within the definition of incriminating material and has no effect on determination of our taxable income. 8. That Sir, it can be looked also from another angle i.e. after initiating the proceeding what has happed

GREENWOOD RESORTS PRIVATE LIMITED,GUWAHATI vs. DEPUTY COMMISSIONER OF INCOME TAX, GUWAHATI

In the result, ITA No. 114/GTY/2024 for AY 2017-18 is partly allowed for statistical purposes

Bench: Shri Manomohan Das & Shri Rakesh Mishra

section as presumed by AO has come into operation from 01-04-2017 whereas transaction relates to earlier year so it does not come within the definition of incriminating material and has no effect on determination of our taxable income. 8. That Sir, it can be looked also from another angle i.e. after initiating the proceeding what has happed

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-SHILLONG, SHILLONG vs. M/S. DHAR CONSTRUCTION COMPANY, SHILLONG

In the result, the appeal of revenue is partly allowed

TDS, large value claim of refund and large increase in capital in a year. Valid notices u/s. 143(2) & 142(1) of the Act were issued. Various details were called for by the ld. AO, which the assessee has filed. Income assessed at Rs.4,84,36,311/- after making following disallowances :- Returned Income : Rs.1,21,98,600 ADD: Disallowance

ASSAM GAS COMPANY LIMITED,DULIAJAN vs. DCIT/ ACIT, CIRCLE 1/DBR, DIBRUGARH

Appeal is allowed for statistical purposes

Bench: SHRI MANOMOHAN DAS, JUDICIAL MEMBER SHRI SANJAY AWASTHI (Accountant Member)

2(24)(x), whereas, in our case Clause (ii) of subsection (1) of Section 36 is applicable i.e. related to Bonus to employees and the related Bonus was strictly paid within the time allowed u/s 43B to be read with first proviso thereto. Hence, the case is distinguished. 4. For that our Return of Income was filed within extended

M/S. NORTH EASTERN ELECTRIC POWER CORPORATION LTD.,SHILLONG vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE - SHILLONG, SHILLONG

In the result, the appeal of the assessee in ITA

Bench: Shri Rajpal Yadav, Vice-(Kz) & Dr. Manish Borad

2) CIT v. Reaiest Builders and Services: 307 ITR 202 (SC) (3) Radhasoami Satsang v. CIT 193 ITR 321 (SC) (4) CIT v. Excel Industries: 358 ITR 295 (SC) (5) CIT V. Daimia Promoters Developers (P) Ltd: 281 ITR 346 (Del.) (6) DIT v. Escorts Cardiac Diseases Hospital: 300 ITR 75 (Del.) (7) CIT V. A.K.J. Security Printers

M/S. NORTH EASTERN ELECTRIC POWER CORPORATION LTD.,SHILLONG vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE - SHILLONG, SHILLONG

In the result, the appeal of the assessee in ITA

Bench: Shri Rajpal Yadav, Vice-(Kz) & Dr. Manish Borad

2) CIT v. Reaiest Builders and Services: 307 ITR 202 (SC) (3) Radhasoami Satsang v. CIT 193 ITR 321 (SC) (4) CIT v. Excel Industries: 358 ITR 295 (SC) (5) CIT V. Daimia Promoters Developers (P) Ltd: 281 ITR 346 (Del.) (6) DIT v. Escorts Cardiac Diseases Hospital: 300 ITR 75 (Del.) (7) CIT V. A.K.J. Security Printers

SHRI PRABHUDAYAL BERIWAL,JYOTINAGAR vs. ASSISTANT COMMISSIONER OF INCOME TAX, DIBRUGARH

Bench: SHRI MANOMOHAN DAS, JUDICIAL MEMBER SHRI SANJAY AWASTHI (Accountant Member)

section 68 of the Act. 1.2 Further aggrieved, the assessee has filed the present appeal with the following grounds: “1. For that the Additional/Joint/Deputy/Assistant Commissioner of Income tax erred in law and fact of the case while making addition u/s 68 for unsecured loan of Rs 1,11,00,000 taken from Premsagar Commercial Private Limited 2. For that

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, GUWAHATI vs. ABCI INFRASTRUCTURES PRIVATE LIMITED, KOLKATA

In the result, the appeal of the assessee is allowed, whereas the appeal of the Revenue is dismissed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Dr. Manish Borad

2.—For the purposes of the fourth proviso, "asset" shall include immovable property being land or building or both, shares and securities, loans and advances, deposits in bank account. 13. A perusal of this section would indicate that where a search has been conducted under section 132 of the Income Tax Act upon the assessee, then the assessment

ABCI INFRASTRUCTURES PRIVATE LIMITED,KOLKATA vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, GUWAHATI

In the result, the appeal of the assessee is allowed, whereas the appeal of the Revenue is dismissed

Bench: Shri Rajpal Yadav, Vice-(Kz) & Dr. Manish Borad

2.—For the purposes of the fourth proviso, "asset" shall include immovable property being land or building or both, shares and securities, loans and advances, deposits in bank account. 13. A perusal of this section would indicate that where a search has been conducted under section 132 of the Income Tax Act upon the assessee, then the assessment

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, GUWAHATI vs. ABCI INFRASTRUCTURES PRIVATE LIMITED, KOLKATA

In the result, the appeal of the assessee for Assessment Year

Bench: Sri Rajpal Yadav(Kz) & Dr. Manish Borad

36,116.00 4 Bridge Expenses 17,69,56,347.00 5 Earthwork Expenses 10,04,03,520.00 6 Fabrication and Erection Expenses 2,66,95,843.00 7 Pile Casting 2,49,85,313.00 8 Retaining Work and Culvert Expenses 1,90,70,003.00 9 Supply of Materials 1,55,95,404.00 10 WBM Expenses 1,54,08,401.00 11 GSB Expenses

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, GUWAHATI vs. ABCI INFRASTRUCTURES PRIVATE LIMITED, KOLKATA

In the result, the appeal of the assessee for Assessment Year

Bench: Sri Rajpal Yadav(Kz) & Dr. Manish Borad

36,116.00 4 Bridge Expenses 17,69,56,347.00 5 Earthwork Expenses 10,04,03,520.00 6 Fabrication and Erection Expenses 2,66,95,843.00 7 Pile Casting 2,49,85,313.00 8 Retaining Work and Culvert Expenses 1,90,70,003.00 9 Supply of Materials 1,55,95,404.00 10 WBM Expenses 1,54,08,401.00 11 GSB Expenses

ABCI INFRASTRUCTURES PRIVATE LIMITED,KOLKATA vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, GUWAHATI

In the result, the appeal of the assessee for Assessment Year

Bench: Sri Rajpal Yadav(Kz) & Dr. Manish Borad

36,116.00 4 Bridge Expenses 17,69,56,347.00 5 Earthwork Expenses 10,04,03,520.00 6 Fabrication and Erection Expenses 2,66,95,843.00 7 Pile Casting 2,49,85,313.00 8 Retaining Work and Culvert Expenses 1,90,70,003.00 9 Supply of Materials 1,55,95,404.00 10 WBM Expenses 1,54,08,401.00 11 GSB Expenses