Punjab and Haryana HC

Assessee can adjust cash seized against its advance tax dues

Pr. CIT Vs Sh. Surinder Kumar Khindri (Punjab And Haryana High Court)

The assessee has been held entitled to adjustment of cash seized against its advance tax dues. It has further been held that the Explanation 2 to Section 132B of the Act is not retrospective in nature. ...

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Appellate Authority cannot Enhance Penalty: Punjab Excise Act, 1914

M/s Nirvair Singh Vs Financial Commissioner Taxation (Punjab and Haryana High Court)

Section 14 of the Punjab Excise Act, 1914 does not confer a power upon the appellate authority to pass an order more burdensome than the order appealed against. It does not entitle the appellate authority to enhance the penalty. ...

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No penalty where assessee relied on professional opinion & there is no tax impact

Pr. CIT Vs Atotech India Ltd (Punjab and Haryana High Court)

Tribunal noted that the respondent had claimed the set off of its business income of Rs. 1.85 crores against the brought forward business losses of the earlier years on the basis of a legal opinion received from a leading firm of Chartered Accountants dated 15.06.2001. ...

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SC explains TDS on construction, erection & commissioning of plants

Pr. CIT Vs The Senior Manager (Finance), Bharat Heavy Ltd., (Punjab and Hariyana High court)

These are usual clauses in such contracts. The testing, pre-commissioning, commissioning and post-commissioning are required to be carried out by a contractor to satisfy the customer that the work has been executed in a proper manne...

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Mere surplus generation not fatal to exemption u/s 10(23C)(vi)(via)/ 80G if same is utilized for charitable purposes

CIT Vs. Gulab Devi Memorial Hospital (Punjab & Haryana High Court)

In this case Punjab & Haryana High Court upheld the The law laid down in Visvesvaraya Technological University vs. ACIT 384 ITR 37 (SC)  that  generation of surplus is not fatal to the grant of exemption under section 10(23C)(vi)(via)/ 80G of Income Tax Act, 1961 if such surplus is utilized for charitable purposes. In this […...

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Cash seized during demonetization eligible for PMGKY deposit scheme

Vishal Jain vs. State of Punjab (Punjab & Haryana High Court)

In case, the petitioner submits any application to the Income Tax Department, the authorities can look into matter for the purpose of declaration of undisclosed income by availing the remedy under the PMGKY Scheme....

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Notional rent payable if assessee owns more than 1 property

Susham Singla Vs CIT (Punjab and Haryana High Court)

Annual value of properties like the ones in case in hand which are more than one, owned by assessee and which admittedly remained vacant throughout the previous year would not be assessed U/s. 23(1)(c) but under Section 23(1)(a). The annual value would, therefore, be determined notionally ...

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Guarantee Commission Paid for Acquisition of Fixed Assets – Allowable as Revenue Expenditure

Chandigarh State Road & Bridges Development Corporation LTD. Vs CIT (Punjab & Haryana High Court)

Section 37(1): (1) Any expenditure (not being expenditure of the nature described in sections 30 to 36 and not being in the nature of capital expenditure or personal expenses of the assessee), laid out or expended wholly and exclusively for the purposes of business or profession...

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S. 80IB deduction conditions to be fulfilled in all years of deduction claim

CIT Vs M/s Micro Instruments Company (Punjab & Haryana High Court)

Deduction U/s. 80IB is allowable over a period of 6 years which follows that conditions for claiming deduction must remain fulfilled in all years for which deduction being claimed...

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Guarantee commission allowable as Revenue expense

Haryana State Road & Bridges Development Corporation Ltd. Vs Commissioner of Income Tax (Punjab and Haryana High Court)

P&H HC held that guarantee commission by itself does not bring into existence any asset of an enduring nature. Therefore, guarantee commission is allowable as revenue expenditure....

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