MASCOT FOOTCARE FARIDABAD THRG ITS PARTNER GUNJAN LAKHANI vs. COMMISSIONER OF INCOME TAX FARIDABAD (HARYANA)

The appeals stand dismissed

Bench: MS. JUSTICE RITU BAHRI,MRS. JUSTICE MANISHA BATRA

disallowed under section 36(1) (iii) of the Act. Such borrowings to that extent cannot possibly be held for the purpose of business but for supplementing the cash diverted without deriving any benefit out of it. Accordingly, the assessee will not be entitled to claim deduction of the interest on MANOJ KUMAR 2023.06.06 11

PR COMMISSIONER OF INCOME TAX, PANCHKULA vs. M/S VENUS REMEDIES LIMITED

Bench: MR. JUSTICE SANJEEV PRAKASH SHARMA,MR. JUSTICE SANJAY VASHISTH

Section t ‘the Act, 1961’) accordingly. he case had a checkered history eedings where the assessee had CIT (Appeals) disallowing the 1961. It is submitted that the 1, are limited and the assessee correction in the original return ducted in the books of account Learned counsel submits that he Karnataka High Court was y dismissal

M/S SHREE DIGVIJAYA WOOLLEN MILLS LTD. AMRITSAR vs. COMMISSIONER OF INCOMT-TAX, AMRITSAR

Bench: MR. JUSTICE SANJEEV PRAKASH SHARMA,MRS. JUSTICE SUDEEPTI SHARMA

1,72,537 16,376 8.66% 9. 1983-84 5,08,958 76,336 13.04% Thus, it was submitted that the A.O went on an erroneous presumption by assuming that the percentage of wastage of 13.04% is excessive just by looking at the data of previous two years without appreciating the fact that the wastage of percentage accepted

PRINCIPAL COMMISSIONER OF INCOME TAX , HISAR vs. DAKSHIN HARYANA BIJLI VITRAN NIGAM LTD.

Appeals are dismissed

Bench: MR. JUSTICE TEJINDER SINGH DHINDSA,MR. JUSTICE PANKAJ JAIN

disallowance made by A.O. w.r.t. electricity duty under Section 43B of the 1961 Act. DINESH KUMAR 2022.08.23 18:51 I attest to the accuracy and integrity of this document ITA Nos. 17, 30, 51, 33, 105, 119 and 87 of 2021 (O&M) 3 4. The matter was taken before the Income Tax Appellate Tribunal (hereinafter referred to 'Tribunal

BHARTI BHUSHAN JINDAL vs. COMMISSIONER OF INCOME TAX LUDHIANA

Bench: MRS. JUSTICE LISA GILL,MRS. JUSTICE SUDEEPTI SHARMA

disallowed the return of unrealized amount of Rs.10,50,000/- and added back the same to the income of the appellant and penalty proceedings under Section 271 (1)(c) of the IT Act were initiated for furnishing inaccurate particulars of account. The appellant filed appeal against order dated 29.12.2006 before the Commissioner of Income Tax (Appeals)-II, Ludhiana, who vide

SMITHKLINE BEECHAM CONSUMER BRANDS LTD vs. COMMISSIONER OF INCOME TAX PATIALA

Bench: MR. JUSTICE AMARINDER SINGH GREWAL,MR. JUSTICE JAGMOHAN BANSAL

Disallowed deduction beyond 80% of expenses relating to production of advertising material i.e. video film. 3. The parties approached Tribunal seeking reference on different issues to the High Court. The Tribunal and thereafter this Court considered few questions to be answered by this Court. 4. Learned counsel for assessee pointed out that issue with respect to DEEPAK BISSYAN

PR. COMMISSIONER OF INCOME TAX (CENTRAL) GURUGRAM vs. M/S MAHARISHI MARKANDESHWAR UNIVERSITY TRUST

Bench: MR. JUSTICE SANJEEV PRAKASH SHARMA,MR. JUSTICE SANJAY VASHISTH

1)(a) Less: Fixed assets considered as applied towards income from properties held for charitable purposes during the year during the year 65.73.64.136.73 22,79,04,609.17 Total Taxable Income Nil Unapplied fixed assets expenditure during the year : 42,94,59,527.56” 3. The PCIT invoking its powers under Section 263 of the Act revised the assessment order

PRINCIPAL COMMISSIONER OF INCOME TAX FARIDABAD vs. M/S NHPC LTD

The appeals stand disposed of

Bench: MR. JUSTICE AJAY TEWARI,MR. JUSTICE HARNARESH SINGH GILL

1. “Whether, on the facts and in circumstances of the case and in law, the Hon’ble ITAT was right in law in dismissing appeal of the Revenue observing that ‘ in view of categorical finding of the Supreme Court we hold that the CIT(A) was correct in holding that advance against depreciation cannot be added under the computation

COMMISSIONER OF INCOME TAX CHANDIGARH vs. M/S IMPROVEMENT TRUST BATHINDA

The appeals are hereby dismissed

Bench: MRS. JUSTICE LISA GILL,MR. JUSTICE DEEPAK MANCHANDA

11 and holding that the assessee was not covered by the words “advancement of any other object of general public utility” in Section 2(15). The Tribunal, therefore, rightly directed the Assessing Officer to delete disallowance of exemption. 74. It cannot possibly be suggested that the Government of Punjab formed the trusts under the Punjab Town Improvement Act, 1922 because

M/S ROCKMAN CYCLES INDS. LTD. vs. COMMR. OF INCOME TAX, LDH. AND ANR.

The appeals are allowed and impugned orders are

Bench: MS. JUSTICE RITU BAHRI,MRS. JUSTICE MANISHA BATRA

1), no allowance shall be made in respect of expenditure incurred by an assessee on advertisement in any souvenir, brochure, tract, pamphlet or the like published by a political party. The agreement dated 10.11.1995 (A-1) falls under Section 37 of Act 1961. Moreover, as per Section 35AB of Act 1961, the deduction has to be given in one financial

INDUSTRIAL CABLES PVT. LTD. vs. COMMNR. OF INCOME TAX & ANR.

Bench: MR. JUSTICE AMARINDER SINGH GREWAL,MR. JUSTICE JAGMOHAN BANSAL

11 I attest to the accuracy and integrity of this document ITA-10-2005 (O&M) -3- 3. The expenses were disallowed by Tribunal relying upon Section 37(4) of 1961 Act. Section 37(4) reads as:- “(4) Notwithstanding anything contained in sub-section (1

LALIT SINGLA R/O SARAI ALBEL SINGH OUTSIDE LAHORI GATE PATIALA PUNJAB vs. COMMISSIONER OF INCOME TEX PATIALA PUNJAB

The appeal stands dismissed

Bench: MR. JUSTICE AJAY TEWARI,MR. JUSTICE VIVEK PURI

disallowance can be made without appreciating the chargeability of transactions to tax by way of TCS forms in accordance with Section 206CA r.w. Rule 114A substantiating the purchases made and the genuineness thereof ? 3 . A few facts necessary for adjudication of the instant appeal as narrated therein may be noticed. The assessee is in the business of retail selling

COMMISSIONER OF INCOME TAX vs. M/S MUKERIAN PAPERS LTD

Bench: MR. JUSTICE AJAY TEWARI,MRS. JUSTICE ALKA SARIN

1) of the I.T.Act by ignoring the fact that such expenditure is covered u/s 35D of the I.T.Act ? 4. The first substantial question of law in both the above mentioned appeals has already been concluded by this Court on 06.08.2008 against the revenue in view of the judgment of Hon’ble Supreme Court in Deputy Commissioner of Income

M/S MAJESTIC AUTO LTD vs. COMMISSIONER OF IT & ANR

Bench: MR. JUSTICE AMARINDER SINGH GREWAL,MR. JUSTICE JAGMOHAN BANSAL

disallowed. 2. The matter relates to Assessment Year 1997-98. The appellant is engaged in the business of automobile parts. With intent to expand its business outside the country, it incurred travelling and staff expenses outside the country during 1995-96 and 1996-97. The appellant attempted to set up a unit in China. The project could not be materialized

COMMISSIONER OF INCOME TAX ROHTAK vs. M/S CRYSTAL PHOSPHATES LTD

Bench: MS. JUSTICE RITU BAHRI,MRS. JUSTICE MANISHA BATRA

11:34 I attest to the accuracy and integrity of this document ITA No.140 of 2013 (O&M) -2- case was selected for scrutiny. Assessment under Section 144 of the Income Tax Act was completed on 24.12.2008 by making the following additions:- “(1) During the assessment proceedings, the identity and creditworthiness of the parties subscribed share capital remained unproved

PR COMMISSIONER OF INCOME TAX-2 CHANDIGARH vs. M/S SMITHKLINE BEECHAM CONSUMER HEALTHCARE LTD

Bench: MR. JUSTICE AMARINDER SINGH GREWAL,MR. JUSTICE JAGMOHAN BANSAL

Section 260A of the Income Tax Act, 1961 (for short ‘1961 Act’) is seeking setting aside of order dated 05.04.2016 passed by Income Tax Appellate Tribunal, Chandigarh (for short ‘ITAT’). 2. The appellant has raised following questions for adjudication by this Court:- (i) Whether, on the facts and in the circumstances of the case

SMITHKLINE BEECHAM CONSUMER BRANDS LTD vs. COMMISSIONER OF INCOME TAX PATIALA

11:06 I attest to the accuracy and integrity of this document ITR-62 to 69-1995 -3- 1961 (for short, “1961 Act”). The AO disallowed few expenses as well as assessed closing stock at the value different from value declared by assessee. The matter reached Tribunal through First Appellate Authority. The Tribunal partially allowed appeal of the assessee

CIT-I CHANDIGARH vs. M/S PB.INFO&COMM. TECH. CORP. LTD. CHD.

The appeals are dismissed

Bench: MS. JUSTICE RITU BAHRI,MRS. JUSTICE MANISHA BATRA

1) (c) of the Income Tax Act, 1961 (for short 'the Act') were ordered to be initiated separately against it. 3. Feeling aggrieved against the order of assessment dated 20.12.2005, the respondent-assessee had filed appeal under Section 143 (3) of the Act before the Commissioner of Income Tax (Appeals), Chandigarh (for short “CIT (A)”) who vide order dated