ABHILASHA CONSTRUCTION,JHANSI vs. JCIT RANGE-6 , JHANSI

In the result appeal filed by the assessee is allowed

Depreciation and deductions under section 40(b) of the Act even after application of profit rate. BECAUSE, the ‘appellant’ denies liability of interest 6. under section 234B of the ‘Act’. 7. BECAUSE, while making and sustaining the assessment the ‘AO’ and ‘CIT(A)’ has made various observations which are contrary to facts on records. ITA 314/Agr/2015 3 8. BECAUSE, assessment

SHRI HARENDRA NATH GUPTA,FIROZABAD vs. P CIT CIRCLE-2, AGRA

In the result, the appeal of the assessee stands allowed

Bench: Shri Shamim Yahya & Shri Yogesh Kumar Us[Assessment Year: 2012-13]

263 of the Act dated 16.01.2015 and pertains to Assessment Year 2012-13. 2. In this case, the ld. CIT observed that the assessment order passed by the AO is erroneous and prejudicial to the interest of Revenue for the following reasons:- “(i) A loan of Rs. 80,00,000/- is shown to be obtained from M/s Sanwaria Trade Link

M/S RAJEEV KUMAR CONTRACTOR PVT.LTD.,FIROZABAD vs. ACIT., CIRCLE-2(2)(1), FIROZABAD

Appeal is allowed in above terms

Bench: Sh. Satbeer Singh Godara & Sh. M. Balaganesh

section 263 show-cause notice dated 04.05.2018 inter alia alleging that not only the above statutory deductions of depreciation, directors

JHANSI DEVELOPMENT AUTHORITY,JHANSI vs. ACIT CIRCLE-4, AGRA

In the result the appeal of the assessee is allowed and the appeal

Bench: Shri Laliet Kumar,And Dr. Mitha Lal Meenajhansi Development Authority Vs..Dcit Circle-4, Commissionerycompus, Agra. Jhansi. (Now The Dy. Cit Panno.Aaalj0068K (Exemption) Ghaziabad. (Assessee) (Revenue) Acit, 4(1), Vs..Jhansi Development Agra. Authority (Now The Dy. Cit Commissionerycompus, Jhansi. (Exemption) Ghaziabad. Panno.Aaalj0068K (Revenue) (Assessee)

263 (ITAT Delhi) ] (vii)CIT (Exemption) Vs M/s Moradabad Development Authority [ ITA No. 3 of 2017 dt. 03.05.2017 (High Court, Lucknow Bench)] (viii) Ahmedabad Urban Development Authority Vs ACIT (E) [(2017) 83 Taxmann.com 78 ( High Court of Gujarat) (ix) Bangalore Development Authority ITAT Bang. ITA no. 1104 / Bang / 2017 & 1087 / Bang / 2017 (Relevant page 23 onwards) (x) Greater Noida Industrial

JHASI DEVELOPMENT AUTHORITY,JHANSI vs. DY. C.I.T., CIRCLE-4, AGRA

In the result the appeal of the assessee is allowed and the appeal

Bench: Shri Laliet Kumar,And Dr. Mitha Lal Meenajhansi Development Authority Vs..Dcit Circle-4, Commissionerycompus, Agra. Jhansi. (Now The Dy. Cit Panno.Aaalj0068K (Exemption) Ghaziabad. (Assessee) (Revenue) Acit, 4(1), Vs..Jhansi Development Agra. Authority (Now The Dy. Cit Commissionerycompus, Jhansi. (Exemption) Ghaziabad. Panno.Aaalj0068K (Revenue) (Assessee)

263 (ITAT Delhi) ] (vii)CIT (Exemption) Vs M/s Moradabad Development Authority [ ITA No. 3 of 2017 dt. 03.05.2017 (High Court, Lucknow Bench)] (viii) Ahmedabad Urban Development Authority Vs ACIT (E) [(2017) 83 Taxmann.com 78 ( High Court of Gujarat) (ix) Bangalore Development Authority ITAT Bang. ITA no. 1104 / Bang / 2017 & 1087 / Bang / 2017 (Relevant page 23 onwards) (x) Greater Noida Industrial

ACIT CIRCLE-4, AGRA vs. JHANSI DEVELOPMENT AUTHORITY, JHANSI

In the result the appeal of the assessee is allowed and the appeal

Bench: Shri Laliet Kumar,And Dr. Mitha Lal Meenajhansi Development Authority Vs..Dcit Circle-4, Commissionerycompus, Agra. Jhansi. (Now The Dy. Cit Panno.Aaalj0068K (Exemption) Ghaziabad. (Assessee) (Revenue) Acit, 4(1), Vs..Jhansi Development Agra. Authority (Now The Dy. Cit Commissionerycompus, Jhansi. (Exemption) Ghaziabad. Panno.Aaalj0068K (Revenue) (Assessee)

263 (ITAT Delhi) ] (vii)CIT (Exemption) Vs M/s Moradabad Development Authority [ ITA No. 3 of 2017 dt. 03.05.2017 (High Court, Lucknow Bench)] (viii) Ahmedabad Urban Development Authority Vs ACIT (E) [(2017) 83 Taxmann.com 78 ( High Court of Gujarat) (ix) Bangalore Development Authority ITAT Bang. ITA no. 1104 / Bang / 2017 & 1087 / Bang / 2017 (Relevant page 23 onwards) (x) Greater Noida Industrial

SHRI OM PRAKASH SINGH,MATHURA vs. ACIT CIRCLE-3, AGRA

In the result appeal is partly allowed

Bench: Shri Sudhanshu Srivastava & Dr. Mitha Lal Meena

depreciation and interest paid. Thus, ground of appeal No.1 to 4 is partly allowed. 11. Vide Ground of Appeal No. 5, assessee has challenged the action of the Ld. CIT(A) in sustaining addition of Rs.3,00,00,000/- under section 68 of the Act. The laerned Assessing officer has made the addition on account of his finding that

MODERN AGENCIES,JHANSI vs. ACIT CIRCLE-6, JHANSI

In the result, both the appeals of the assessee are partly

section 144 i.e. ‘Best Judgment Assessment.’ 3. The assessment of income as per discussion above is framed below: “a. The value of phyiscial stock taken on date of survey was Rs.1,30,14,587/-. The partner of the firms, Sh. Mukesh Agarwal in his statement on the date of survey was confronted with this stock inventory which was taken