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

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

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

2,86,650 appellant from total receipts LIC Varanasi noted in column A and B on 26/10/2016 On 14/03/2017 7,70,000 Loan was 1,25,000 from Kush advanced on Complex 31/03/2017 10,50,000 The ledger account placed on record by the appellant shows receipt of Rs.11,75,000/- from Mr. Piyush Verma. However, receipt of Rs.1

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)

depreciation u/s 32 of the 1961 Act on the interest being capitalized , even though presently as claimed by assessee, the interest is capitalized by debiting to Capital Work in progress and not debited presently to P&L Account(which also requires verification ) . Since, all these aspects were never looked into by ld. CIT(A) , and hence the appellate order passed

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

In the result, appeal in ITA No

2 of its appeal, the assessee has also agitated the decision of the ld. CIT(A) to retain an addition of Rs.63,866/- on account of Surti expenses, Rs.9,984/- on account of Telephone expenses, Rs. 7,257/- on account of vehicle expenses, Rs.49,486/- on account of depreciation expenses and Rs.7,000/- on account of repair and maintenance expenses

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

In the result, appeal in ITA No

2 of its appeal, the assessee has also agitated the decision of the ld. CIT(A) to retain an addition of Rs.63,866/- on account of Surti expenses, Rs.9,984/- on account of Telephone expenses, Rs. 7,257/- on account of vehicle expenses, Rs.49,486/- on account of depreciation expenses and Rs.7,000/- on account of repair and maintenance expenses

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

In the result the appeal of the assessee is partly allowed

2 ITR (Trib) 178 (Coch) and DCIT vs. Natrajan (K.)(2010), (Bangalore ITAT), to hold that the requirement that the assessment should be confined to the undisclosed income found during the search were no longer necessary under the new system of assessment. The ld. CIT(A) recorded his respectful disagreement with the decision of the Special Bench Mumbai

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

In the result the appeal of the assessee is partly allowed

2 ITR (Trib) 178 (Coch) and DCIT vs. Natrajan (K.)(2010), (Bangalore ITAT), to hold that the requirement that the assessment should be confined to the undisclosed income found during the search were no longer necessary under the new system of assessment. The ld. CIT(A) recorded his respectful disagreement with the decision of the Special Bench Mumbai

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

In the result the appeal of the assessee is partly allowed

2 ITR (Trib) 178 (Coch) and DCIT vs. Natrajan (K.)(2010), (Bangalore ITAT), to hold that the requirement that the assessment should be confined to the undisclosed income found during the search were no longer necessary under the new system of assessment. The ld. CIT(A) recorded his respectful disagreement with the decision of the Special Bench Mumbai