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4 results for “disallowance”+ Section 56clear

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Key Topics

Section 271(1)(c)5Section 260A2Deduction2Penalty2Addition to Income2

BHARTI BHUSHAN JINDAL vs. COMMISSIONER OF INCOME TAX LUDHIANA

ITA/385/2014HC Punjab & Haryana03 Jul 2025

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

Section 142(2)Section 143(2)Section 260ASection 271Section 36(1)(vii)Section 36(2)Section 41(1)Section 56Section 57

56 of the Act, deductions as prescribed under Section 57(iii) of the Act are allowable thus any expenditure incurred by the assessee for earning the income is allowable as a deduction under Section 57(iii) of the Act. Any expenditure in the nature of capital expenditure is not to be allowed as a deduction as prescribed under Section

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

ITA/109/2007HC Punjab & Haryana13 May 2025

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

disallowance of actual ex way of interest on the borrowing e estimation made by the CIT ich is being discussed hereafter. As a consequence of our decisi d of section 14A for making the sessing Officer has referred allowance and the issue has a rties, we consider it appropria ejudice to our earlier view. It is also pertinent to mention

THE PRINCIPAL COMMISSIONER OF INCOME TAX FARIDABAD vs. M/S PIYUSH COLONIZERS LTD.

The appeal is dismissed

ITA/300/2019HC Punjab & Haryana10 Feb 2020

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

Section 260ASection 271(1)(c)

56,65,810/-. In appeal, the 1st Appellate Authority quashed the disallowance of `7,70,72,993/- and addition was restricted to `1,85,92,817/-. For the addition sustained, penalty proceedings were initiated under Section

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

The appeals are allowed and impugned orders are

ITA/244/2005HC Punjab & Haryana09 Feb 2023

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

Section 143Section 260Section 37

56,076/-. The appellant-company claimed ITA Nos. 244, 281, 282, 283 & 630 of 2005 2023:PHHC:056092-DB 3 deducted under Section 37 of Act 1961 on account of expenditure of Rs.61,38,000/- paid to M/s Mckinsey and Company Ltd for professional serviced rendered by it. However, the Assessing Officer disallowed