ZILA SAHKARI BANK LTD.,MIRZAPUR vs. ASSTT. COMMISIONER OF INCOME TAX, MIRZAPUR

In the result, appeal filed by the assessee in ITA no

Bench: Shrivijay Pal Rao & Shri Ramit Kochar

depreciation @50% of the amount calculated at the percentage prescribed for an asset specified in the said proviso. This issue is also decided against the assesse and in favour of Revenue. We order accordingly. Now, coming back to the first effective issue concerning grant of deduction u/s 36(1)(viia) of the 1961 Act. The assessee has claimed deduction

ZILA SAHKARI BANK LTD,,MIRZAPUR vs. JT. C.I.T.,, MIRZAPUR

In the result, appeal filed by the assessee in ITA no

Bench: Shrivijay Pal Rao & Shri Ramit Kochar

depreciation @50% of the amount calculated at the percentage prescribed for an asset specified in the said proviso. This issue is also decided against the assesse and in favour of Revenue. We order accordingly. Now, coming back to the first effective issue concerning grant of deduction u/s 36(1)(viia) of the 1961 Act. The assessee has claimed deduction

TRIVENI GLASS LIMITED,ALLAHABAD vs. INCOME TAX OFFICER WARD 2(3), ALLAHABAD

In the result, the appeal filed by assessee in ITA no

Bench: Shri.Vijay Pal Rao& Shri Ramit Kochar

Section 40(a)(ia) and 43B. It was submitted by ld. DR that the assessee has submitted details/evidences / explanations for the first time before ld. CIT(A) , and that the no remand report was called by CIT(A) from AO , which is in breach of Rule 46A of Income-tax Rules, 1962.The prayers were made

TRIVENI GLASS LIMITED,ALLAHABAD vs. INCOME TAX OFFICER WARD 2(3) , ALLAHABAD

In the result, the appeal filed by assessee in ITA no

Bench: Shri.Vijay Pal Rao& Shri Ramit Kochar

Section 40(a)(ia) and 43B. It was submitted by ld. DR that the assessee has submitted details/evidences / explanations for the first time before ld. CIT(A) , and that the no remand report was called by CIT(A) from AO , which is in breach of Rule 46A of Income-tax Rules, 1962.The prayers were made

TRIVENI GLASS LIMITED,ALLAHABAD vs. INCOME TAX OFFICER WARD 2(3), ALLAHABAD

In the result, the appeal filed by assessee in ITA no

Bench: Shri.Vijay Pal Rao& Shri Ramit Kochar

Section 40(a)(ia) and 43B. It was submitted by ld. DR that the assessee has submitted details/evidences / explanations for the first time before ld. CIT(A) , and that the no remand report was called by CIT(A) from AO , which is in breach of Rule 46A of Income-tax Rules, 1962.The prayers were made

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.

depreciation of the said property in accordance with the provisions of the act. 9. Because the learned AO as well as CIT(A) were not legally justified in taxing a sum of Rs. 3,96,606.00, amount of unsecured loan and sundry creditors which were under normal course of business, under the provisions of section

VINOD KUMAR TANDON,ALLAHABAD vs. DCIT(CPC),, BEGALURU

In the result, appeal of the assessee is dismissed

depreciation). Each of these deductions, has its contours, depending upon the expressions used, and the conditions that are to be met. It is therefore necessary to bear in mind that specific enumeration of deductions, dependent upon fulfilment of particular conditions, would qualify as allowable deductions: failure by the assessee to comply with those conditions, would render the claim vulnerable

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

10 has exempted it from tax, it will be taxable. The fact that the source of income was borrowed money does not detract anything from the revenue character of the receipt. The question of adjustment of interest payable by the company against the interest earned by it will depend upon the provisions of the Act. The expenditure would have been

KESARWANI & CO.,ALLAHABAD vs. JT.CIT,, ALLAHABAD

In the result, appeal in ITA No

Depreciation expenses Rs.49486/- para 8.4 of CIT(A) (f) Out of Repair maintenance Expenses Rs.7000/- para 9.4 of CIT(A) 3. That the learned CIT (A) has erred both in law as well as on facts in confirming the disallowance of interest of 32116.00 to loan bearing sundry creditors and failed to consider the facts of the case and decision

ACIT,, ALLAHABAD vs. M/S KESARWANI & CO., ALLAHABAD

In the result, appeal in ITA No

Depreciation expenses Rs.49486/- para 8.4 of CIT(A) (f) Out of Repair maintenance Expenses Rs.7000/- para 9.4 of CIT(A) 3. That the learned CIT (A) has erred both in law as well as on facts in confirming the disallowance of interest of 32116.00 to loan bearing sundry creditors and failed to consider the facts of the case and decision

ACIT CIRCLE-2, ALLAHABAD vs. M/S SHERWANI SUGAR SYNDICATE LTD., ALLAHABAD

In the result, appeal filed by the Revenue in ITA No

Bench: Shrivijay Pal Rao & Shri Ramit Kocharassessment Year: 1997-98 The Assistant Commissioner Of V. M/S Shervani Sugar Syndicate Income-Tax, Circle-2, Ltd., Allahabad, U.P. 28, South Road , Allahabad,U.P. Pan/Gir: 19-653-Cv-3480 New Pan: Not Available (Appellant) (Respondent)

23,370/- 5.) Loan from SDFI Rs. 5,84,741/- 6.) Loan from SDF – II Rs. 35,80,396/- 28 Assessment Year: 1997-98 Shervani Sugar Syndicate Limited Rs. 46,39,150/- The AO made additions by invoking provisions of Section 43B of the 1961 Act, while ld. CIT(A) deleted the additions by holding as as under: “4.2 Decision

KESARWANI & C0.,ALLAHABAD vs. JT.CIT., ALLAHABAD

In the result the appeal of the assessee is partly allowed

depreciation against these assets, which would seem to suggest that the balance- sheets contained on KZ-1, were not complete and final balance-sheets. While, we agree with the view of the ld. CIT(A), that the concerned balance-sheets and profit and loss accounts which have been found during the course of search are not rough work / dumb documents

KESARWANI & CO.,ALLAHABAD vs. JT.CIT,, ALLAHABAD

In the result the appeal of the assessee is partly allowed

depreciation against these assets, which would seem to suggest that the balance- sheets contained on KZ-1, were not complete and final balance-sheets. While, we agree with the view of the ld. CIT(A), that the concerned balance-sheets and profit and loss accounts which have been found during the course of search are not rough work / dumb documents

KESARWANI & C0,,ALLAHABAD vs. JT CIT,, ALLAHABAD

In the result the appeal of the assessee is partly allowed

depreciation against these assets, which would seem to suggest that the balance- sheets contained on KZ-1, were not complete and final balance-sheets. While, we agree with the view of the ld. CIT(A), that the concerned balance-sheets and profit and loss accounts which have been found during the course of search are not rough work / dumb documents