A.C.I.T., CIRCLE-2, GWALIOR vs. M/S SHYAM SUNDER & MANISH TAORI, MORENA

In the result, appeal of the Revenue is allowed for statistical purposes

Bench: : Shri Laliet Kumar & Dr. Mitha Lal Meena

price as may be determined in accordance with the rules made under this Act ;] 2[(29A) “long-term capital asset” means a capital asset which is not a shortterm capital asset ; 2(29B) “long-term capital gain” means capital gain arising from the transfer of a long-term capital asset ;] 2(42A) [“short-term capital asset” means a capital asset

A.C.I.T.,CIRCLE-2, GWALIOR vs. M/S VANDANA JAIN & RAMA BANSAL, MORENA

In the result, appeal of the Revenue is allowed for statistical purposes

Bench: : Shri Laliet Kumar & Dr. Mitha Lal Meena

price as may be determined in accordance with the rules made under this Act ;] 2[(29A) “long-term capital asset” means a capital asset which is not a shortterm capital asset ; 2(29B) “long-term capital gain” means capital gain arising from the transfer of a long-term capital asset ;] 2(42A) [“short-term capital asset” means a capital asset

A.C.I.T., CIRCLE-2,, AGRA vs. M/S SAKSHI TAIRI & CHHAYA BATTAD, MORENA

In the result, appeal of the Revenue is allowed for statistical purposes

Bench: : Shri Laliet Kumar & Dr. Mitha Lal Meena

price as may be determined in accordance with the rules made under this Act ;] 2[(29A) “long-term capital asset” means a capital asset which is not a shortterm capital asset ; 2(29B) “long-term capital gain” means capital gain arising from the transfer of a long-term capital asset ;] 2(42A) [“short-term capital asset” means a capital asset

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)

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

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

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)

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

vii) That, the Ld.CIT(A) has erred in law & on facts by deleting the addition of Rs.36,50,000/- out of total addition of Rs 54,77.,878/-, on account of fictitious expenses, by ignoring the fact that cheques issued on the same dates were not cleared upto 31.03.2009 and fictitious expenditure was being claimed by the assessee to satisfy

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)

vii). Commissioner of Income-tax vs. Arora Alloys Ltd. [2015] 60 taxmann.com 67 (Punjab & Haryana)/[2015] 370 ITR 732 (Punjab &Haryana)[21-07-2014] Section 69C, read with section 263, of the Income-tax Act, 1961 - Unexplained expenditure (Statements made before other authorities, relevance of) - Assessment year 2005-06 - Assessee- company was engaged in business of manufacturing of non- alloys

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)

vii). Commissioner of Income-tax vs. Arora Alloys Ltd. [2015] 60 taxmann.com 67 (Punjab & Haryana)/[2015] 370 ITR 732 (Punjab &Haryana)[21-07-2014] Section 69C, read with section 263, of the Income-tax Act, 1961 - Unexplained expenditure (Statements made before other authorities, relevance of) - Assessment year 2005-06 - Assessee- company was engaged in business of manufacturing of non- alloys

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)

vii). Commissioner of Income-tax vs. Arora Alloys Ltd. [2015] 60 taxmann.com 67 (Punjab & Haryana)/[2015] 370 ITR 732 (Punjab &Haryana)[21-07-2014] Section 69C, read with section 263, of the Income-tax Act, 1961 - Unexplained expenditure (Statements made before other authorities, relevance of) - Assessment year 2005-06 - Assessee- company was engaged in business of manufacturing of non- alloys