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. That the Commissioner Income Tax (Appeals) erred not to consider

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

8. That in any view of the matter addition of Rs.6,17,834/- on account of capital gain as made by the assessing officer which was reduced to Rs.2,72,152/- by ld. CIT(A) is highly unjustified and ld. CIT(A) was not correct in taking indexation value of 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

8. That in any view of the matter addition of Rs.6,17,834/- on account of capital gain as made by the assessing officer which was reduced to Rs.2,72,152/- by ld. CIT(A) is highly unjustified and ld. CIT(A) was not correct in taking indexation value of 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

8. That in any view of the matter addition of Rs.6,17,834/- on account of capital gain as made by the assessing officer which was reduced to Rs.2,72,152/- by ld. CIT(A) is highly unjustified and ld. CIT(A) was not correct in taking indexation value of 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

8. That in any view of the matter addition of Rs.6,17,834/- on account of capital gain as made by the assessing officer which was reduced to Rs.2,72,152/- by ld. CIT(A) is highly unjustified and ld. CIT(A) was not correct in taking indexation value of 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

8. That in any view of the matter addition of Rs.6,17,834/- on account of capital gain as made by the assessing officer which was reduced to Rs.2,72,152/- by ld. CIT(A) is highly unjustified and ld. CIT(A) was not correct in taking indexation value of year 1987 when in fact jewellery was acquired prior

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 on sale of shares , and she meets all the conditions for claiming exemption. Thus, the matter is restored back to the file of AO for fresh consideration of the entire issue denovo. Section 10(38) clearly lays down conditions for exemption ,and if the assessee fulfills all the conditions , then the assesse is entitled

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

8 (2), Hyderabad, wherein in similar circumstances, the Hon'ble Tribunals restored the matter back to the AO for a fresh adjudication after referring the matter to the Valuation Officer u/s- 50C (2) of the Act. Copies of both the judgements are attached herewith for your kind perusal and record as Annexure

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

8. BECAUSE the NFAC has failed to appreciate the fact that long term capital gain arising from the transfer of a long term capital assets being equity shares in a company is exempted under section

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.

8. On the issue of disallowance of deduction under section 24(a) from rental income receipt, the ld. AR submitted that the assessee was a licensee of a liquor and a trader. His business was not into the renting out of property. If it was held that he was into the business of renting out property, then depreciation under section

ALLAHABAD DEVELOPMENT AUTHORITY,ALLAHABAD vs. ACIT (EXEMPTION), LUCKNOW

In the result all three appeals of the Assessee are partly allowed

Bench: Sh. Sudhanshu Srivastava & Sh. Nikhil Choudhary

Gains from AYs. 2014-15 to 2016-17 business and profession’. The net profit disclosed by the assessee of Rs. 6,54,93,137/- was added to the total income of the assessee and penalty proceedings under section 271(1)(c) were initiated. 7.6 Moving on the AO further observed that certain funds and grants shown under the head under

ALLAHABAD DEVELOPMENT AUTHORITY,ALLAHABAD vs. ACIT (EXEMPTION), LUCKNOW

In the result all three appeals of the Assessee are partly allowed

Bench: Sh. Sudhanshu Srivastava & Sh. Nikhil Choudhary

Gains from AYs. 2014-15 to 2016-17 business and profession’. The net profit disclosed by the assessee of Rs. 6,54,93,137/- was added to the total income of the assessee and penalty proceedings under section 271(1)(c) were initiated. 7.6 Moving on the AO further observed that certain funds and grants shown under the head under

ALLAHABAD DEVELOPMENT AUTHORITY,ALLAHABAD vs. ACIT (EXEMPTION), LUCKNOW

In the result all three appeals of the Assessee are partly allowed

Bench: Sh. Sudhanshu Srivastava & Sh. Nikhil Choudhary

Gains from AYs. 2014-15 to 2016-17 business and profession’. The net profit disclosed by the assessee of Rs. 6,54,93,137/- was added to the total income of the assessee and penalty proceedings under section 271(1)(c) were initiated. 7.6 Moving on the AO further observed that certain funds and grants shown under the head under

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

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. Learned Sr. Department Representative relied on the following case laws: (i) M. Anil V. Income Tax Officer [2008] 10 SOT 655 (Cochin) (ii) Smt. Janki Kishan Hingorani vs. Pr. CIT [2024] 158 taxmann.com 3 (Rajkot-Trib.) (iii) CIT vs. Zaibunnissa Begum [1985] 151 ITR 320 (AP) (iv) Smt. Asha George vs. Income Tax Officer

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

8. Therefore, at the outset, we find that when the AO has clearly mentioned in the assessment order that the notice under section 143(2) was issued on 16.11.2015 and the assessee did not raise any objection either before the AO or before the CIT(A) then merely because this fact was not recorded in the order- sheet

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

8. Therefore, at the outset, we find that when the AO has clearly mentioned in the assessment order that the notice under section 143(2) was issued on 16.11.2015 and the assessee did not raise any objection either before the AO or before the CIT(A) then merely because this fact was not recorded in the order- sheet

OM PRAKASH SINGH,ALLAHABAD vs. ACIT, CENTRAL CIRCLE, , ALLAHABAD

In the result, the appeal is partly allowed

Bench: Sh. Udayan Das Gupta & Sh. Nikhil Choudharya.Y. 2017-18 Om Prakash Singh, Vs. Assistant Commissioner Of 147A/2, Tagore Town, J.L.N. Income Tax, Central Circle, Road, Allahabad, U.P. Allahabad, U.P. Pan:Aiepp0574G (Appellant) (Respondent) Assessee By: Sh. Ashish Bansal, Adv Revenue By: Sh. A.K. Singh, Sr. Dr Date Of Hearing: 01.10.2024 Date Of Pronouncement: 27.12.2024 O R D E R Per Nikhil Choudhary, A.M.: This Is An Appeal Against The Order Of The Ld. Cit(A)-, Lucknow-3, Dated 11.07.2023 Passed Under Section 250 Of The Income Tax Act, 1961. The Grounds Of Appeal Preferred Are As Under:- “1. Because Proceeding Under Section 147 Of The Act By Issuance Of Notice Dated 30.03.2021 Under Section 148 On The Basis Of D.V.O. Report His Only Erroneous & Bad, Assessment Order Dated 23.03.2022 Passed In Consequence Of Said Proceeding Is Wholly Without Jurisdiction, Accordingly, The Entire Proceeding In Consequence Of Notice Dated 30.03.2021 Are Vitiated & Not Maintainable. Without Prejudice To The Aforesaid 2. Because The Addition Of Rs.9,26,796/- Made By The Ld. Assessing Officer On Account Of Alleged Difference In The Valuation Of Office Building Between The Value Appearing In The Audited Books Of Account As Compared To The Valuation Made By The D.V.O., As Also Confirm By The Id. Cit(A), Is Wholly Erroneous As The Report Of The Valuation Officer Is An Estimate & The Same

capital gains in that particular case). Therefore, it has held that there is no substance in the plea that the ld. AO could not have taken the valuation report into account. The Hon’ble Court held that what was necessary to be adjudicated, was about the existence of relevant material which formed foundation of a belief and constituted reasons