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

disallowing the set-off of brought forward business loss of Rs. 38,84,38,396/- and unabsorbed depreciation of Rs. 52,56,92,612/- against taxable income assessed by him for Rs. 27,20,480/- Detail of Brought forward Business Loss & Unabsorbed Depreciation has been furnished below: Assessment Year Business Loss (Rs.) Unabsorbed Total Brought Depreciation (Rs.) Forward Loss

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

losses and current years income from derivative trading as Short Term Capital Gain while the AO has concluded after examination that this was in the nature of business income and therefore he has disallowed the carried forward

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)

carried forward 5,84,741 The provisions of Rs. 2,43,260/- made for the year under consideration has been added back by ourselves in computing our total income for the Assessment Year 1997-98 as is duly verifiable for the statement showing computation of (Page 67 of PB) no further disallowance is called for because

ROHIT,FAIZABAD vs. INCOME TAX OFFICER, AMBEDKAR NAGAR, AMBEDKAR NAGAR

In the result, the appeal of the assessee bearing ITA No

Bench: Sh. Udayan Das Gupta & Nikhil Choudharyi.T.A. No.102/Alld/2024 Assessment Year: 2012-13

disallowing the same, as the sundry debtors were duly supported by sales made during the year which has been accepted by him. 10. BECAUSE the Id. Assessing Officer on the basis of information provided by M/s Murarka Textiles alleging cash payment made by them aggregating to Rs.7,08,000/- on different dates which are not recorded in the books

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

In the result the appeal of the assessee is partly allowed

forwarded to the ld. AO for his comments and in response, the ld. AO submitted that some of the vouchers produced by the assessee were self-made. Furthermore, it was only the percentage of disallowance which had been adopted from the assessment year 2004-05 and therefore, no adverse inference should be drawn on that account. The assessee submitted that

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

In the result the appeal of the assessee is partly allowed

forwarded to the ld. AO for his comments and in response, the ld. AO submitted that some of the vouchers produced by the assessee were self-made. Furthermore, it was only the percentage of disallowance which had been adopted from the assessment year 2004-05 and therefore, no adverse inference should be drawn on that account. The assessee submitted that

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

In the result the appeal of the assessee is partly allowed

forwarded to the ld. AO for his comments and in response, the ld. AO submitted that some of the vouchers produced by the assessee were self-made. Furthermore, it was only the percentage of disallowance which had been adopted from the assessment year 2004-05 and therefore, no adverse inference should be drawn on that account. The assessee submitted that

DHIRENDRA SINGH,MIRZAPUR vs. INCOME TAX OFFICER, WARD- 3(1), MIRZAPUR

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

Bench: Shri Subhash Malguria & Shri Nikhil Choudharyassessment Year: 2015-16 Dhirendra Singh V. Income Tax Officer Mangraha, Chunar Ward 3(1) Mirzapur Mirzapur Pan:Bipps5569C (Appellant) (Respondent) Appellant By: Shri Brij Bhushan Goenka, C.A. Respondent By: Shri A. K. Singh, Sr. D.R. Date Of Hearing: 02 01 2025 Date Of Pronouncement: 20 03 2025

loss account and copy of ITR. The Assessing Officer records that when asked to substantiate the issue involved, i.e., “increase in capital”, the ITA No.133/ALLD/2024 Page 3 of 11 A.R. of the assessee could offer no explanation in this regard. The Assessing Officer observed that the assessee had shown increase in capital account of Rs.1,15,69,573/- as compared

M/S KESARWANI <ARKETING (P) LTD,,ALLAHABAD vs. JT.CIT (OSD),, ALLAHABAD

In the result appeal filed by assessee in ITA No

Bench: Shri Vijay Pal Rao & Shri Ramit Kochar

forward with such an explanation to wriggle out of the tax liability. The contentions of the assessee are rejected.The seized document is recovered from the assessee during search operations carried out by Revenue u/s 132(1) on 27.08.2009. The presumption u/s 132(4A) and 292C shall apply and contents of the documents viz. seized trial balance shall be presumed

M/S KESARWANI MARKETING (P) LTD,,ALLAHABAD vs. JT. C.IT,(OSD), ALLAHABAD

In the result appeal filed by assessee in ITA No

Bench: Shri Vijay Pal Rao & Shri Ramit Kochar

forward with such an explanation to wriggle out of the tax liability. The contentions of the assessee are rejected.The seized document is recovered from the assessee during search operations carried out by Revenue u/s 132(1) on 27.08.2009. The presumption u/s 132(4A) and 292C shall apply and contents of the documents viz. seized trial balance shall be presumed

M/S KESARWANI MARKETING (P) LTD,,ALLAHABAD vs. JT.CIT,(OSD), ALLAHABAD

In the result appeal filed by assessee in ITA No

Bench: Shri Vijay Pal Rao & Shri Ramit Kochar

forward with such an explanation to wriggle out of the tax liability. The contentions of the assessee are rejected.The seized document is recovered from the assessee during search operations carried out by Revenue u/s 132(1) on 27.08.2009. The presumption u/s 132(4A) and 292C shall apply and contents of the documents viz. seized trial balance shall be presumed

M/S KESARWANI MARKETING(P).LTD.,ALLAHABAD vs. JT. CIT(OSD),, ALLAHABAD

In the result appeal filed by assessee in ITA No

Bench: Shri Vijay Pal Rao & Shri Ramit Kochar

forward with such an explanation to wriggle out of the tax liability. The contentions of the assessee are rejected.The seized document is recovered from the assessee during search operations carried out by Revenue u/s 132(1) on 27.08.2009. The presumption u/s 132(4A) and 292C shall apply and contents of the documents viz. seized trial balance shall be presumed

M/S KESARWANI ZARDA BHANDAR,,ALLAHABAD vs. JT.CIT,, ALLAHABAD

In the result, the appeal of Revenue is dismissed and the appeal of the assessee is partly allowed

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

disallowance by Rs.73,16,513/- on account of bogus purchases even though the facts brought on records by the AO have been admitted by the CIT(A). 6. That the order of the Ld. CIT (A) being erroneous in law and on facts needs to be vacated and the order of the A.O. be restored.” 2. The facts

ACIT,, ALLAHABAD vs. KESARWANI ZARDA BHANDAR,, ALLAHABAD

In the result, the appeal of Revenue is dismissed and the appeal of the assessee is partly allowed

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

disallowance by Rs.73,16,513/- on account of bogus purchases even though the facts brought on records by the AO have been admitted by the CIT(A). 6. That the order of the Ld. CIT (A) being erroneous in law and on facts needs to be vacated and the order of the A.O. be restored.” 2. The facts

DCIT, CIRCLE-II , ALLAHABAD vs. BHARAT PUMPS & COMPRESSORS LTD, ALLAHABAD

In the result, appeal filed by Revenue for ay: 2007-08 is allowed for statistical purposes

Bench: Shri.Vijay Pal Rao & Shri Ramit Kochar

carried the matter further by filing an appeal before ld. CIT(A). It was Bharat Pumps & Compressors Ltd. Assessment Years: 2005-06 & 2007-08 submitted by assessee before ld. CIT(A) that as per BPCL Employees Provident Fund Trust’s annual accounts for the financial year 2004-05 and 2003-04 , the Trust had incurred loss amounting

DCIT, CIRCLE-II , ALLAHABAD vs. BHARAT PUMPS & COMPRESSORS LTD, ALLAHABAD

In the result, appeal filed by Revenue for ay: 2007-08 is allowed for statistical purposes

Bench: Shri.Vijay Pal Rao & Shri Ramit Kochar

carried the matter further by filing an appeal before ld. CIT(A). It was Bharat Pumps & Compressors Ltd. Assessment Years: 2005-06 & 2007-08 submitted by assessee before ld. CIT(A) that as per BPCL Employees Provident Fund Trust’s annual accounts for the financial year 2004-05 and 2003-04 , the Trust had incurred loss amounting

YOGI SATYAM,ALLAHABAD vs. ITO, WARD- 1(5), ALLAHABAD

The appeals are partly allowed

Bench: Shri. Sudhanshu Srivastava & Shri Nikhil Choudhary

disallowance or addition in computation of income. He submitted that as can be seen from the assessment order for assessment year 2012-13 that the reason has been given that assessee had deposited Rs.5,01,33,312/- but has not filed his ITA Nos.50, 51, 52, 53 & 54/ALLD/2023 & ITA Nos.5, 6, 7, 8 & 9/ALLD/2023 Page 63 of 79 return

YOGI SATYAM,ALLAHABAD vs. ITO, WARD-1(5), ALLAHABAD

The appeals are partly allowed

Bench: Shri. Sudhanshu Srivastava & Shri Nikhil Choudhary

disallowance or addition in computation of income. He submitted that as can be seen from the assessment order for assessment year 2012-13 that the reason has been given that assessee had deposited Rs.5,01,33,312/- but has not filed his ITA Nos.50, 51, 52, 53 & 54/ALLD/2023 & ITA Nos.5, 6, 7, 8 & 9/ALLD/2023 Page 63 of 79 return