Search: disallowance

2 results for “disallowance”+ Section 274(2)clear

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M/S PUNJAB INSTITUTE OF MEDICAL SCIENCES, GARHA ROAD , JALANDHAR vs. COMMISSIONER OF INCOME TAX JALANDHAR AND ANR

ITA/271/2014HC Punjab & Haryana04 Dec 2024

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

2. The Commissioner of Income Tax-II, Jalandhar (for short, ‘the CIT’) vide its order dated 24.10.2013 exercised powers under Section 12AA (3) of the Income Tax Act, 1961 (for short, ‘the Act’) and cancelled the registration granted to the assessee-society under Section 12A of the Act holding that it was not working for the objects for which

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

ITR/3/2010HC Punjab & Haryana22 Mar 2024

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

Section 256(2)

274 Kgs. Less 60% of its as copper wire scrap out of 7384 Kgs 2/3 is considered as reasonable 7,384 Kgs. Balance recovernable 4,623 Kgs. The scrap value is taken @ Rs.50/- Per Kg. Thus, the value of 4623 Kgs Comes to Rs.2,31,150/- Less Value of scrap sold down Profit U/s 41(2) Rs. 16,000/- _____________ Rs.2