STATE BANK OF PATIALA vs. COMMISSIONER OF INCOME TAX

The appeals are allowed by way of remand to Tribunal which would pass fresh

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

disallowance under Section 14A of Income Tax Act, 1961 (for short ‘1961 Act’) on the securities held in stock. This issue stands settled by this Court in “Principle CIT Vs. State of Patiala”, (2017) 391 ITR 218 (P&H). The judgment of this Court stands affirmed by Hon’ble Supreme Court in “Maxopp Investment Ltd. Vs. Commissioner of Income

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

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 it wanted to carry on the business as colonizers or developers under the mask of the category “objects of general public utility”. PANKAJ BAWEJA 2018.09.20 19:01 I attest to the accuracy and authenticity

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

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. The Tribunal decided following questions against the assessee:- (i) The assessee could change method of determination of value of closing stock, however, ordered

COMMISSIONER OF INCOME TAX -II, CHANDIGARH vs. M/S GLAXO SMITHKLINE CONSUMERS, PATIALA

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

disallowance of claim for deduction u/s 80-I of the 1961 Act, in as much as the machineries had been installed in the same existing factory premises, as no mention of expansion of the existing factory in the annual report of the company was there and or any separate accounts & other details relating to unit for which deduction

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

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

27,511/- w 3) Whether the Hon'ble ITAT CIT(A)'s method of not apportion o the financial costs of Rs. Rs.1,63,04,928/-, Capital Expen Rs.3,00,67,328/- and deferred r research u/s 35(2) of Rs.1,55,3 purposes of determining deducti NJAB AND HARYANA ARH ITA-81-2012 (O&M) Date of Decision

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

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

27,532 Millionore 64,260 Shawls, blankets and Lois 11,587 Carpet yarn 44,411 In view of the above details, it is observed that out of the total worsted yarn manufactured at 585294 Kg., 288500 Kg. is of synthetic blended yarn in which the wastage is nominal. Secondly, it has been emphasized by the assessee that for manufacture