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

depreciation shall be proportionately disallowed. Section 38(2) is reproduced hereunder: “Building, etc., partly used for business, etc., or not exclusively so used. 38. (1) *** (2) Where any building, machinery, plant or furniture is not exclusively used for the purposes of the business or profession, the deductions under sub-clause (ii) of clause (a) and clause (c) of section 30

SHREE SUDHAKAR PANDEY,SONBHEDRA vs. ACIT RANGE-III,, MIRZAPUR

In the result, the appeal of the assessee is dismissed

Bench: Shri.Vijay Pal Raoassessment Year: 2014-15 Shree Sudhakar Pandey, Civil Line, V Acit, Robertsganj, Sonebhadra, Uttar Pradesh- . Range-Iii, Mirzapur, U.P. 231216 Pan-Alds03711B (Appellant) (Respondent) Appellant By: Sh. Ashish Bansal, Adv Respondent By: Mr. A.K. Singh, Sr. Dr Date Of Hearing: 07/12/2021 Date Of Pronouncement: 17/12/2021 O R D E R

30,265/- ought to have been allowed over the estimated income subject to declared income in view of CBDT Circular No. 2 Dated 9.02.2011.” Shree Sudhakar Pandey 2. The solitary issue arises in this appeal of the assessee is regarding disallowing the claim of depreciation after estimating the income @ 8% of Gross receipts. This is second round of litigation

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

30 and 31 of the paper book, wherein audited accounts of the assessee are placed. It was submitted that the AO allowed deduction of Rs. 8,03,763/-, while disallowance was made by AO to the tune of Rs. 1,70,81,955/-. It was submitted that there is no question of disallowing any deduction with respect to Section

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

30 and 31 of the paper book, wherein audited accounts of the assessee are placed. It was submitted that the AO allowed deduction of Rs. 8,03,763/-, while disallowance was made by AO to the tune of Rs. 1,70,81,955/-. It was submitted that there is no question of disallowing any deduction with respect to 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.

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

30-38), deals with what cannot be deducted in computing income under the head "Profits and Gains of Business and Profession". Likewise, section 40A(2) opens with a non-obstante clause and spells out what expenses and payments are not deductible in certain circumstances. Section 41 elaborates conditions which apply with respect to certain deductions which are otherwise allowed

POOJA GROVER,ALLAHABAD vs. DCIT, CIR-2,, ALLAHABAD

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

Bench: Shri Subhash Malguria & Shri Nikhil Choudhary

30@ on the assets whereas the claim of depreciation has been made @10% on furniture and 15% on the air conditioner, bills of which are either in the name of Umang Grover or Umang Sarees. It was submitted that the depreciation of Rs.5,29,827/- be allowed. 6. Learned Departmental Representative, on the other hand, supported the orders

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)

30 Assessment Year: 1997-98 Shervani Sugar Syndicate Limited scenario where IFCI is the nodal agency for loans granted under SDF by Government , Section 43B has any applicability or not.The claim is also set up by assessee before ld. CIT(A) that interest of Rs. 35.80 lacs was on loans granted under SDF and was capitalized and hence Section

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

30. This Court also took note of the provisions of the Companies Act, 1956 and in particular section 208(1)( b). It observed: "... clause (b) of sub-section (1) of that section provides that in case, interest is paid on share capital issued for the purpose of raising money to defray the expenses of constructing any work or building

BRAJESH AGRAWAL,PRAYAGRAJ vs. ASST. DIRECTOR OF INCOME TAX, BENGALURU

In the result, the appeal of the assessee is allowed

Bench: Shri.Vijay Pal Rao & Shri. Ramit Kocharassessment Year: 2021-22 Brajesh Agrawal, V. Asstt. Director Of Income Tax, Cpc, Bengaluru 3/15, Patrika Marg, Civil Lines, Allahabad, U.P. Pan-Acbpa3797R (Appellant) (Respondent) Assessee By: Sh. Saurabh Agrawal, C.A. Respondent By: Sh. A.K. Singh, Sr. Dr Date Of Hearing: 14.03.2023 Date Of Pronouncement: 24.03.2023 O R D E R

30,185.00 Interest on FDR 2,771.32 Dividend Received 4,713.89 Interest on Bonds 16,260.00 Total (Rs.) 15,21,057.21 without considering the fact that aforesaid sum/income had already been offered to taxation by the appellant in his original return of income filed under section 139(1) of Sri Brajesh Agrawal the Income-tax Act, 1961 under the respective

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 & 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