RASHMI MEHROTRA,,ALLAHABAD vs. DCIT,, ALLAHABAD

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

Bench: Shri. A. D. Jain & Shri T. S. Kapoorassessment Year: 2006-07 Rashmi Mehrotra V. Dcit 15B, Lal Bahadur Shastri Marg Circle I Allahabad Allahabad Tan/Pan:Acmpm2530M (Appellant) (Respondent) Appellant By: Shri N.C. Agarwal, C.A. Respondent By: Shri A. K. Singh, D.R. Date Of Hearing: 10 02 2020 Date Of Pronouncement: 12 02 2020

Term Capital Gains arising out of sale of flats in Lotus Apartment as Short Term Capital Gains

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

short term capital gain. Therefore, since capital gain could only be set off against capital

M/S GANGA NURSING HOME,,ALLAHABAD vs. DCIT,, ALLAHABAD

In the result, appeal filed by the assessee is partly allowed for statistical purposes

Bench: Shri Vijay Pal Rao & Shri Ramit Kochar

term capital gain. Penalty notice u/s 271(1)(c) of the I.T. Act, 1961 is issued on this point.” 4. The assessee being aggrieved by an assessment framed by the AO filed first appeal with Ld. CIT (A) , who after considering the contentions of the assessee 5 Assessment Year: 2008-09 Ganga Nursing Home v. DCIT, Range

SANJAY MAJUMDAR,ALLAHABAD vs. PR. CIT, ALLAHABAD

Bench: Shri.Vijay Pal Rao & Shri Ramit Kocharassessment Year: 2012-13 Mr. Sanjay Majumdar, V. The Principal Commissioner Type Ii – 112, Devprayagam Of Income Tax, Sangam Vatika – Jhalwa, Aayakar Bhawan, Allahabad 211012 38, M.G. Marg, Civil Lines, Allahabad 211001 Pan: Adopm 2688P (Appellant) (Respondent)

short term capital gain, hence it was held by the Hon'ble Allahabad High Court that there was no error

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

Bench: Shri Vijay Pal Rao & Shri Ramit Kochar

short term capital gain as per point No. 2 of the assessment order and his action as confirmed

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

Bench: Shri Vijay Pal Rao & Shri Ramit Kochar

short term capital gain as per point No. 2 of the assessment order and his action as confirmed

MEJA URJA NIGAM (P) LTD.,ALLAHABAD vs. INCOME TAX OFFICE WARD-2 (2), ALLAHABAD

In the result, both the appeals of the assessee for ay: 2015-16 and 2016-17

Bench: Shri.Vijay Pal Rao & Shri Ramit Kochar

Capital gains'. Similarly, if a company purchases rented house and gets rent, such rent will be assessable to tax under section 22 as income from house property. Likewise, the company may have income from other sources. The company may also, as in that case, keep the surplus funds in short-term

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

short]. In this appeal the assessee has raised the following grounds: “1. BECAUSE the National Faceless Appeal Centre (NFAC) has erred in law and on facts in dismissing appeal in limine by holding that there is delay of 74 days in filing of appeal filed on 14.06.2016 and appellant has not filed any application for condonation of delay and there

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

short]. 2. The facts of the case, in brief, are that the appellant assessee is an individual and e-filed her return of income on 23/09/2016 declaring total income of Rs.14,36,970/-. The Assessing Officer completed the assessment and assessed the total income of the assessee at Rs.82,82,550/- after making an addition of Rs.68,45,580/- under

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.

short periods. The income from these properties was also disclosed on a net basis i.e. after deducting all the expenses including the salaries of the managers. In respect of one house property i.e. Shop at M.G. Marg, Civil Lines, Allahabad, the ld. AO observed that the assessee had let out the same to Kashi Ornament House, received a rent