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)

price thereby making a profit. The assessee also sells such land to colonizers and builders for further development and constructions.. These activities are clearly in the nature of trade and commerce and therefore the same attracts proviso to section 2(15) of I.T.Act. b. The assessee converts a lease hold land to Free Hold Land thereby increasing its value

AGRA DEVELOPMENT AUTHORITY,AGRA vs. DCIT., CIRCLE-1, AGRA

The appeals of the assessee are allowed and the appeal of the revenue is dismissed

24. The view of the Punjab and Haryana High Court has been followed by the Delhi High Court in St. Lawrence Educational Society (Regd.) v. Commissioner of Income Tax &Anr., (2011) 53 DTR (Del) 130. Also in Tolani Education Society v. Deputy Director of Income Tax (Exemption) &Ors., (2013) 351 ITR 184, the Bombay High Court has expressed a view

ACIT, CC, AGRA, AGRA vs. HMA AGRO INDUSTRIES LIMITED,, AGRA

In the result, ground no.1 raised by the Revenue is accordingly dismissed

Bench: Shris.Rifaur Rahman & Shri Sunil Kumar Singhhma Agro Industries Limited, Vs. Dcit, Central Circle, 2/220, 2Nd Floor, Glory Plaza, Agra. Opp. Soor Sadan, M.G. Road, Agra – 282 002. (Pan :Aacch0450J)

price. We observed that the Ld PCIT failed to understand the nature of business of the assessee. Without their being purchased livestock, it is not possible for the assessee to achieve such huge export. The people who are engaged are basically dealings in the 17 ITA No.251/Agr/2025 and 4 ors. unorganized sector, all the payments have to be settled

ACIT, CC, AGRA, AGRA vs. HMA AGRO INDUSTRIES LIMITED,, AGRA

In the result, ground no.1 raised by the Revenue is accordingly dismissed

Bench: Shris.Rifaur Rahman & Shri Sunil Kumar Singhhma Agro Industries Limited, Vs. Dcit, Central Circle, 2/220, 2Nd Floor, Glory Plaza, Agra. Opp. Soor Sadan, M.G. Road, Agra – 282 002. (Pan :Aacch0450J)

price. We observed that the Ld PCIT failed to understand the nature of business of the assessee. Without their being purchased livestock, it is not possible for the assessee to achieve such huge export. The people who are engaged are basically dealings in the 17 ITA No.251/Agr/2025 and 4 ors. unorganized sector, all the payments have to be settled

HMA AGRO INDUSTRIES LIMITED,AGRA vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE, AGRA, AGRA

In the result, ground no.1 raised by the Revenue is accordingly dismissed

Bench: Shris.Rifaur Rahman & Shri Sunil Kumar Singhhma Agro Industries Limited, Vs. Dcit, Central Circle, 2/220, 2Nd Floor, Glory Plaza, Agra. Opp. Soor Sadan, M.G. Road, Agra – 282 002. (Pan :Aacch0450J)

price. We observed that the Ld PCIT failed to understand the nature of business of the assessee. Without their being purchased livestock, it is not possible for the assessee to achieve such huge export. The people who are engaged are basically dealings in the 17 ITA No.251/Agr/2025 and 4 ors. unorganized sector, all the payments have to be settled

MR. TASAVVER HUSAIN,FARRUKHABAD vs. ACIT , FARRUKHABAD

In the result, appeal filed by the assessee is allowed

Bench: :Smt. Annapurna Gupta & Shri Sunil Kumar Singh

Transfer Pricing Officer, where the assessee had maintained information and documents as prescribed under section 92D, declared the international transaction under Chapter X, and, disclosed all the material facts relating to the transaction; and (e) the amount of undisclosed income referred to in section 271AAB. (7) The penalty referred to in sub-section (1) shall be a sum equal

MR. TASAVVER HUSAIN,FARRUKHABAD vs. ACIT, FARRUKHABAD

In the result, appeal filed by the assessee is allowed

Bench: :Smt. Annapurna Gupta & Shri Sunil Kumar Singh

Transfer Pricing Officer, where the assessee had maintained information and documents as prescribed under section 92D, declared the international transaction under Chapter X, and, disclosed all the material facts relating to the transaction; and (e) the amount of undisclosed income referred to in section 271AAB. (7) The penalty referred to in sub-section (1) shall be a sum equal

ALAUDDIN,AGRA vs. ITO, WARD 1(1)(1), AGRA, AGRA

In the result, the appeal is partly allowed for statistical purposes

Bench: : Shri Sunil Kumar Singh & Shri Manish Agarwalassessment Year: 2015-16

Price indexed for F.Y. 2014-15 (1024) Sale consideration of property for the year 2014-15: Rs. 45,00,000/- Less: Indexed cost of acquisition = 371000 x 1024/497 = Rs. 764394/- of property for the year 2014-15. Long Term Capital Gain for 2014-15: Rs. 37,35,606/- 6. However, while giving benefit of deduction claimed by assessee