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Punjab-Haryana High Court

Vishal Tools & Forgings Private Limited vs Commissioner Of Income Tax on 27 May, 2011

Author: Rajesh Bindal

Bench: Adarsh Kumar Goel, Rajesh Bindal

             ITA No. 134 of 2011                               (1)

           IN THE HIGH COURT OF PUNJAB AND HARYANA
                        AT CHANDIGARH

                                             ITA No. 134 of 2011 (O&M)

                                             Date of decision: 27.5.2011

Vishal Tools & Forgings Private Limited                        ....Appellant
                       vs
Commissioner of Income Tax, Jalandhar (Punjab)                 ...Respondent


Coram:       Hon'ble Mr. Justice Adarsh Kumar Goel
             Acting Chief Justice
             Hon'ble Mr. Justice Rajesh Bindal


Present:     Mr. Pankaj Jain, Advocate for the appellant.


Rajesh Bindal, J.

This appeal has been filed by the assessee under Section 260A of the Income Tax Act, 1961 (in short "the Act"), for the assessment year 2005-06, against the order of the Income Tax Appellate Tribunal, Amritsar Bench, Amritsar (hereinafter referred to as "the Tribunal") in ITA No. 158/ASR/2009 dated 9.10.2009, raising the following substantial questions of law:-

"(i) Whether on the true and correct interpretation of section 234B the levy of interest is mandatory where there is a conflict of decision and the admitted that liability stands paid?

(ii) Whether on the true and correct interpretation of the provisions of section 145 the finding are sustainable for charging the income from undisclosed sources under Chapter VI without discharging the departmental onus to prove the source of such other income?

(iii) Whether the Tribunal order is sustainable, for the additions made to the income of the assessee as income from other undisclosed sources, can be considered as income from the business, which is eligible for deduction u/s 80IB of the IT Act 1961?"

We have heard learned counsel for the appellant on merits. Learned counsel for the assessee fairly states that question no.

(i) is covered against the assessee by order dated 20.5.2011 passed by this court in ITA No. 121 of 2011 Vishal Tools & Forgings Private Limited vs Commissioner of Income Tax, Jalandhar (Punjab). He further states that question nos. (ii) and (iii) are covered against the assessee by order dated 24.5.2011 passed by this court in ITA No. 125 of 2011 Home Tax vs Commissioner of Income Tax, Karnal.

In view of the above, the appeal is dismissed.

                                                  (Rajesh Bindal)
                                                       Judge


27.5.2011                                      (Adarsh Kumar Goel)
vs                                                    Judge