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

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

7. 1981-82 6,69,732 66,855 9.08% 8. 1982-83 (3 months) 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

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

2(24) read with section 28 of the Income Tax Act, 1961, which provides that “income” includes profits and gains and the profits and gains of any business or profession carried on by the assessee at any time during the previous year is taxable?” 3. “Whether, on the facts and in circumstances of the case Anuradha

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

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

2. Assessee is a licensee under the Electricity Act, 2003 engaged in the distribution of power in State of Haryana. Assessee filed return for the assessment year 2008-09 declaring nil income. Assessment under Section 143(3) was completed on 23.12.2010 at nil income. Commissioner Income Tax revised the same exercising power under Section 263 of the 1961 Act. Assessment

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

section 14A supersedes the principle of law that in the case of a composite business expenditure incurred towards tax free income could not be disallowed and incorporates an implicit theory of apportionment of expenditure between taxable and non-taxable income and once a proximate cause for disallowance is established regarding the relationship of the expenditure with income, which does

BALJINDER SINGH SALANA vs. COMMISSIONER OF INCOME TAX, PATIALA

Bench: MR. JUSTICE GURMEET SINGH SANDHAWALIA,MS. JUSTICE LAPITA BANERJI

disallowance of expenses on account of wages paid to labour and without any material on record against the assessee? (iii) Whether the ITAT has erred in applying the provision of section-44AD for calculating the net profit ratio at 8% of the gross receipt which was treated as income of the assesse? (iv) Whether net profit ratio of earlier years

M/S PANCHSHEEL TEXTILE MANFAC. & TRAD. vs. C I T AND ANR.

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

2. The appeals. (i) (ii) 3. Sin Assessment Yea impugned order years is the sam and decision at r BRIEF FACTS 4. The business of man 1997-1998, the (O&M) and other connected ca HARMA, J. ese appeals pertaining to Assess have been preferred against ord e Tax Appellate Tribunal, Cha 5 for the Assessment Years 1998 e following

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

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

2) was issued on 07.10.2004. After seeking relevant details and information from the respondent, its assessment for the concerned year was finalized. It was observed that the assessee had treated the money received by sale of plots/sheds as capital receipt and had not accounted for the closing stock of plots/sheds due to which revenue on these accounts was MANJU

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

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

2] (O&M) and connected cases. The appellant has assailed the or Tax Appellate Tribunal, Chand eferred to as ‘the ITAT’), wher compute book profit after a ncurred by the assessee compan -12 respectively and compute th Income Tax Act, 1961 (for short Learned counsel submits that th econd round of appellate proce matter against the order of C nder

THE PR COMMISSIONER OF INCOME TAX-2 CHANDIGARH vs. M/S SWARAJ ENGINES LTD MOHALI

Bench: MR. JUSTICE AJAY TEWARI,MR. JUSTICE AVNEESH JHINGAN

disallowed. Thereafter notice under Section 148 of the Act was issued to the assessee claiming that the benefit of Section 80-I of the Act had wrongly been extended. Ultimately the Tribunal set aside this order holding that the primary condition of Section 147 of the Act viz 'reason to believe' (as defined by a plethora of judgments

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 ROHTAK vs. M/S CRYSTAL PHOSPHATES LTD

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

7) The assessee had debited expenses on account of charity and donation of Rs.66,203/- and gift expenses of Rs.42,530/-, totaling to Rs.1,08,733/-, which were disallowed being not admissible as per provisions of the IT Act. (8) An addition of Rs.5,00,000/- is made out of total Foreign Travelling Expenses of Rs.9

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

2) [***] (2B) Notwithstanding anything contained in sub-section (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

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

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

2. The Principal Commissioner of Income Tax (Central), Gurugram has preferred these appeals against the order dated 19.08.2019 passed by the Income Tax Appellate Tribunal, Delhi Bench ‘G’, New Delhi, whereby it has set aside the order of the Principal Commissioner of Income Tax (Central) (hereinafter to be referred as ‘the PCIT’) passed under Section 263 of the Income

COMMISSIONER OF INCOME TAX-II, CHD vs. M/S VENUS REMEDIES LTD.

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

disallowance u/s 80IC was allowed. was right in law in accepting ning part of expenditure relating 1,93,15,643/-, Depreciation of nditure on R&D u/s 35(2) of revenue expenses on scientific 36,344/- to the Baddi Unit or ion u/s 80IC, when the assessee

CIT, JALANDHAR vs. M/S MAX INDIA LTD.

Bench: MR. JUSTICE SANJEEV PRAKASH SHARMA,MR. JUSTICE JAGMOHAN BANSAL

disallowing p same was exa 2004 and to and were dele assessment y albeit on acco 2013 again h deduction vid 5. H issue for asse this Court ha assessee as no 6. I view and the of law are ac the expenditu is upheld and 7. N 8. A 16.07.2024. rajesh 1. Whe 2

CHIEF COMMISSIONER OF INCOME TAX OSD LUDHIANA vs. M/S CEIGALL INDIA LTD

Bench: Cit(A). The Same Was Partly Allowed. The Addition Made By Applying Net Profit Dinesh Kumar 2022.10.16 16:54 I Attest To The Accuracy & Integrity Of This Document

2 rate of 12% on the total gross receipt was reduced to 6.5% of the total gross receipt. Addition under Section 69C of the act on account of unexplained expenditure was deleted. The order passed by CIT(A) was taken in appeal before ITAT by the revenue. The appeal filed by the revenue stands dismissed. 4. We have heard counsel