ARUP BANERJI,ALLAHABAD vs. DCIT, CIRCLE-1, ALLAHABAD

In the result, the appeal of the assessee is allowed

Bench: Sh. Sudhanshu Srivastava & Sh. Nikhil Choudharya.Y. 2014-15 Arup Banerji, Vs. Deputy Commissioner Of 14/18, Elgin Road, Allahabad Income Tax, Circle-1, Allahabad Pan:Acupb7330A (Appellant) (Respondent) Assessee By: Sh. S.K. Jaiswal, C.A. Revenue By: Sh. A.K. Singh, Sr. Dr Date Of Hearing: 18.09.2024 Date Of Pronouncement: 29.11.2024 O R D E R Per Nikhil Choudhary, A.M.: This Is An Appeal Filed By The Assessee Against The Order Of The Ld. Cit(A), Nfac Dismissing His Appeal Against The Order Of The Dcit, Circle-1, Allahabad Passed On 30.12.2016. The Grounds Of Appeal Preferred By The Assessee Are As Under:- “1. Because The Learned Commissioner Of Income Tax (Appeals) Has Erred In Law & On Facts In Holding That Appellant Does Not Want To Pursue The Appeal & Dismissing Appeal Ex- Party Without Affording An Adequate & Effective Opportunity Of Being Heard. 2. Because The Learned Commissioner Of Income Tax (Appeals) Has Erred In Law & On Facts In Not Allowing The Set-Off Of Loss From Derivative Trading Of Rs. 66,05,524/- Brought Forward From Assessment Year 2008-09 Against The Current Year Income Of Rs. 60,19,056/- Earned From Derivative Trading. 3. Because The Learned Commissioner Of Income Tax (Appeals) Has Wrongly Conceived The Fact That Appellant Has Brought Forward Loss From Trading In 'Commodity Derivatives' As Per Clause (E) Of Section 43(5) Whereas The Appellant Has Brought Forward Loss From Trading In 'Derivative' As Per Clause

section 43(5) which is excluded from the definition of 'speculative transaction' with effect from 01.04.2006. 4. BECAUSE the appellant has rightly set-off the losses from derivative trading brought forward from assessment year 2008-09 against the current year income from derivative trading. 5. BECAUSE the order appealed against is contrary to the facts, law and principle of natural

AJAY KUMAR GUPTA,FATEHPUR vs. CIT(A), NFAC, DELHI (AO:ITO-2(4),FATEHPUR, FATEHPUR

In the result, appeal filed by assessee in ITA No

Bench: Shri Vijay Pal Rao & Shri Ramit Kochar

capital gain on stamp duty value which is totally arbitrary and against law and fact. 4. That the Commissioner Income Tax (Appeals) erred not to consider that the learned assessing officer erred not to consider the reply dated 05.11.19 in response to notice dated 01.11.19 under section 142(1). 5

RAJESH KUMAR JAISWAL,,ALLAHABAD vs. DEPUTY/ACIT(CENTRAL), ALLAHABAD

In the result, the appeal of the assessee is partly allowed

Bench: the query raised by the assessing authority vide questionnaire issued under section 142 (1) dated 23.01.2021, in assessment proceedings for the AY 2018-19.

5. Because the learned AO as well as CIT(A) were not legally justified in making the addition of Rs.1.85 crores as unexplained investment for the purchase of property, under section 69 and charging the same to the penal rate of tax under section 115 BBE of the Act. 6. Because the appellant was not given any opportunity of hearing

KAILASH JAISWAL,GORAKHPUR vs. ACIT(C.C.), ALLAHABAD

In the result, all the appeals are allowed

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria, Ju Dicial Member

capital gain as made by the assessing officer which was reduced to Rs.8,15,872/- by ld. CIT(A) is highly unjustified and Id. CIT(A) was not correct in taking indexation value of I.T.A. Nos.29, 68, 26, 28 & 47/Alld/2023 Asstt. Years:2007-08, 09-10 to 12-13 5 year 1987 when in fact jewellery was acquired prior

KAILASH JAISWAL,GORAKHPUR vs. ACIT(CC), ALLAHABAD

In the result, all the appeals are allowed

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria, Ju Dicial Member

capital gain as made by the assessing officer which was reduced to Rs.8,15,872/- by ld. CIT(A) is highly unjustified and Id. CIT(A) was not correct in taking indexation value of I.T.A. Nos.29, 68, 26, 28 & 47/Alld/2023 Asstt. Years:2007-08, 09-10 to 12-13 5 year 1987 when in fact jewellery was acquired prior

KAILASH JAISWAL,GORAKHPUR vs. ACIT(C.C.), ALLAHABAD

In the result, all the appeals are allowed

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria, Ju Dicial Member

capital gain as made by the assessing officer which was reduced to Rs.8,15,872/- by ld. CIT(A) is highly unjustified and Id. CIT(A) was not correct in taking indexation value of I.T.A. Nos.29, 68, 26, 28 & 47/Alld/2023 Asstt. Years:2007-08, 09-10 to 12-13 5 year 1987 when in fact jewellery was acquired prior

KAILASH JAISWAL,GORAKHPUR vs. ACIT (CC), ALLAHABAD

In the result, all the appeals are allowed

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria, Ju Dicial Member

capital gain as made by the assessing officer which was reduced to Rs.8,15,872/- by ld. CIT(A) is highly unjustified and Id. CIT(A) was not correct in taking indexation value of I.T.A. Nos.29, 68, 26, 28 & 47/Alld/2023 Asstt. Years:2007-08, 09-10 to 12-13 5 year 1987 when in fact jewellery was acquired prior

KAILASH JAISWAL,GORAKHPUR vs. ACIT(CC), ALLAHABAD

In the result, all the appeals are allowed

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria, Ju Dicial Member

capital gain as made by the assessing officer which was reduced to Rs.8,15,872/- by ld. CIT(A) is highly unjustified and Id. CIT(A) was not correct in taking indexation value of I.T.A. Nos.29, 68, 26, 28 & 47/Alld/2023 Asstt. Years:2007-08, 09-10 to 12-13 5 year 1987 when in fact jewellery was acquired prior

RAMESH CHANDRA VAISH,ALLAHABAD vs. ACIT, CENTRAL CIRCLE , ALLAHABAD

Bench: Shri Vijay Pal Rao & Shri Ramit Kochar

section 50 of the Act as short term capital gain on sale of assets in the hands of the assessee. 4b. There is one more addition with respect to gift of Rs. 1,80,000/- received by the assessee from Sh. Saurabh Vaish which is subject matter of challenge before the tribunal. The assessee was asked

RAMESH CHANDRA VAISH ,ALLAHABAD vs. ASSTT. COMMISSIONER OF INCOME TAX CENTRAL CIRCLE , ALLAHABAD

Bench: Shri Vijay Pal Rao & Shri Ramit Kochar

section 50 of the Act as short term capital gain on sale of assets in the hands of the assessee. 4b. There is one more addition with respect to gift of Rs. 1,80,000/- received by the assessee from Sh. Saurabh Vaish which is subject matter of challenge before the tribunal. The assessee was asked

DR. AROTI GHOSH,ALLAHABAD vs. ITO, WARD-1(1), ALLAHABAD

In the result, appeal of the assessee is allowed for statistical purpose

Bench: Shri Aby T. Varkey & Shri Ramit Kocharassessment Year: 2008-09

capital gains, vide reassessment order dated 31.03.2016 passed u/s 143(3) read with Section 148 of the 1961 Act. 2 A.Y. 2008-09 Dr. Aroti Ghosh 4. The assessee filed rectification application under section 154 of the Act , which was dismissed by AO vide rectification order dated 4.8.2016 passed u/s 154 , by holding as under:- “In this case, the assessee

MOHD UBAID ANSARI,ALLAHABAD vs. ITO, ALLAHABAD , ALLAHABAD

In the result, the appeal of the assessee stands allowed for statistical purposes

Bench: Shri. Sudhanshu Srivastavaassessment Year: 2015-16 Mohd Ubaid Ansari V. The Income Tax Department 337, Sultanpur Bhawa (Faceless) Noorulla Road Khuldabad Allahabad (U.P) Tan/Pan:Bajpa0699B (Appellant) (Respondent) Appellant By: None Respondent By: Shri A. K. Singh, D.R. O R D E R

Capital Gain”. The AO completed the assessment under section 147 read with section 144B of the Act, assessing the total income of the assessee at Rs.39,99,466/-. 2.3 Aggrieved, the Assessee preferred an appeal before the NFAC, which dismissed the appeal of the assessee and confirmed the order of the AO. 2.4 Now, the assessee has approached this Tribunal

AROTI GHOSH,ALLAHABAD vs. INCOME TAX OFFICER WARD-1(1), ALLAHABAD

In the result, the appeal of the assessee stands allowed for statistical purposes

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

5. BECAUSE no notice under section 143(2) has been served upon appellant within stipulated time, therefore the whole of the assessment proceeding is vitiated for want of valid jurisdiction. 6. BECAUSE the NFAC has erred in law and on facts in sustaining addition of Rs.39,67,163.69 made on account of long term capital gain

DEVENDRA SINGH,ALLAHABAD vs. DCIT, RANGE-1, ALLAHABAD

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

Bench: Shri Aby T. Varkey & Shri Ramit Kocharassessment Year: 2011-12 Mr. Devendra Singh, The Deputy Commissioner Of 166A, Puravaldi Kydganj, V. Income Tax, Range-1, Allahabad, Allahabad-211003,U.P. U.P. Pan:Aexps6329H (Appellant) (Respondent) Assessee By: None Revenue By: Sh. A.K. Singh, Sr. Dr Date Of Hearing: 04.09.2023 Date Of Pronouncement: 05.09.2023 O R D E R

capital gain. The AO observed that complete details are not filed by the assessee as only few vouchers, bills in support of expenses claimed to have been incurred for construction were provided. The map sanctioned by the Allahabad Development Authority was also not filed. Thus, the AO was of the view that assessee is not entitled to claim exemption under

MOHAMMAD NAZIM,FATEHPUR vs. ITO, WARD- 2(4), FATEHPUR

Bench: Shri Aby T. Varkey & Shri Ramit Kocharassessment Year: 2014-15 Mr. Income Tax Officer, Mohammad Nazim, V. Ward-2(4), Fatehpur, Income Tax 133 Kheldar, Fatehpur-212601,U.P. Office, Fatehpur-212601,U.P. Pan:Agepn3675J (Appellant) (Respondent) Assessee By: Sh. Mayank Arora, Advocate Revenue By: Sh. Amlendu Nath Mishra, Cit-Dr Date Of Hearing: 12.09.2023 Date Of Pronouncement: 12.09.2023 O R D E R

5. Because the Learned Commissioner of Income Tax (Appeals), NFAC has erred to ignore the fact that the Stamp Valuation Authority does not take into consideration the attributes of the property for determining the fair market value in the condition the property is a offered for sale and is purchased. He is required to value the property in accordance with

MADHURENDRA NATH,ALLAHABAD vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, ALLAHABAD

In the result, both the appeals in ITA No

Bench: Shri.Vijay Pal Rao & Shri. Ramit Kocharassessment Year: 2013-14 Vs. The Asstt. Commissioner Of Smt. Neeta Nath, L/H Of Lt. Dr. Jitendra Nath Income Tax, Central Circle, Civil Lines, Allahabad B/401, Mayan Enclave, 49/13, Clive Road, Allahabad Pan-Abepn1795Q (Appellant) (Respondent) Assessment Year: 2013-14 Madhurendra Nath, Vs. The Asstt. Commissioner Of B-502, Vinayak Le Grande, Income Tax, Central Circle, 16/12, Lal Bahadur Shastri Civil Lines, Allahabad Road, Allahabad-211001 Pan-Aaipn8161D (Appellant) (Respondent) Appellant By: Sh. Siddharth Pathak, Adv Respondent By: Sh. Rabin Chaudhari, Cit Dr Date Of Hearing: 18.01.2023 Date Of Pronouncement: 16.02.2023 O R D E R Shri Vijay Pal Rao, J.M.: These Two Appeals By The Two Related Assessees Are Directed Against Two Separate Orders Of The Cit(A), Both Dated 28.04.2016 For The Assessment Year 2013-14. 2. These Appeals Are Arising From The Assessment Orders Passed Under Section 153C In Pursuant To The Search & Seizure Action Under Section 132(1) Of The Income Tax Act, Dated 05.12.2013 In The Case Of Shri. Hemant Kumar Sindhi. Therefore, The Facts & Circumstances As Well As The Grounds Of Appeal

capital gain for the relevant period. The assessee filed its reply dated 23.11.2015 and submitted that he had received Smt. Neeta Nath L/H of Lt. Dr. Jitendra Nath Rs. 60 lac through three cheques from M/s H.K. Infraventure Private Limited as per agreement dated 30.05.2012 for vacating the premises no. 13/15/17 Stanely Road, Allahabad which were under the tenancy

SMT. NEETA NATH L/H OF LATE DR. JITENDRA NATH,ALLAHABAD vs. ACIT, CENTRAL CIRCLE, ALLAHABAD

In the result, both the appeals in ITA No

Bench: Shri.Vijay Pal Rao & Shri. Ramit Kocharassessment Year: 2013-14 Vs. The Asstt. Commissioner Of Smt. Neeta Nath, L/H Of Lt. Dr. Jitendra Nath Income Tax, Central Circle, Civil Lines, Allahabad B/401, Mayan Enclave, 49/13, Clive Road, Allahabad Pan-Abepn1795Q (Appellant) (Respondent) Assessment Year: 2013-14 Madhurendra Nath, Vs. The Asstt. Commissioner Of B-502, Vinayak Le Grande, Income Tax, Central Circle, 16/12, Lal Bahadur Shastri Civil Lines, Allahabad Road, Allahabad-211001 Pan-Aaipn8161D (Appellant) (Respondent) Appellant By: Sh. Siddharth Pathak, Adv Respondent By: Sh. Rabin Chaudhari, Cit Dr Date Of Hearing: 18.01.2023 Date Of Pronouncement: 16.02.2023 O R D E R Shri Vijay Pal Rao, J.M.: These Two Appeals By The Two Related Assessees Are Directed Against Two Separate Orders Of The Cit(A), Both Dated 28.04.2016 For The Assessment Year 2013-14. 2. These Appeals Are Arising From The Assessment Orders Passed Under Section 153C In Pursuant To The Search & Seizure Action Under Section 132(1) Of The Income Tax Act, Dated 05.12.2013 In The Case Of Shri. Hemant Kumar Sindhi. Therefore, The Facts & Circumstances As Well As The Grounds Of Appeal

capital gain for the relevant period. The assessee filed its reply dated 23.11.2015 and submitted that he had received Smt. Neeta Nath L/H of Lt. Dr. Jitendra Nath Rs. 60 lac through three cheques from M/s H.K. Infraventure Private Limited as per agreement dated 30.05.2012 for vacating the premises no. 13/15/17 Stanely Road, Allahabad which were under the tenancy

SMT. RANJANA BAJPAI,ALLAHABAD vs. DCIT/ACIT, CIRCLE-1(1), ALLAHABAD

Appeal is allowed for statistical purposes

capital gains to account for purchase price, as against the action of the ld. AO who is seen to have added the entire sale consideration. Regarding the alleged donation of Rs.2,00,000/-, the ld. CIT(A) was not convinced of the bona fides of the claim and hence upheld the action of the ld. AO. Lastly, regarding the cash

SUCHITRA TANDON,PRAYAGRAJ vs. ASSISTANT COMMISSIONER OF INCOME TAX , CIRCLE - 2 ALLAHABAD, ALLAHABAD

In the result, the appeal of the assessee stands dismissed

Bench: Shri Subhash Malguria & Shri Sanjay Awasthi

Capital Gain. The assessee had sold an open land during the assessment year under consideration and claimed exemption u/s 54 of the Act. The contention of the Assessing Officer is that section 54 of the Act speaks of residential house, the income of which is chargeable under the head, "income from house property'. The said residential house could be consisting