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

section 36(1)(viia) by the Finance Act 2007 w.e.f. 1.4.2007. 5. BECAUSE as per express provision contained in the statute, entire claim was liable to be allowed and view to the contrary as has been taken by the “CIT(A) is wholly erroneous, as being in-consistent withthe express provisions of law and, on an application of rule

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

section 36(1)(viia) by the Finance Act 2007 w.e.f. 1.4.2007. 5. BECAUSE as per express provision contained in the statute, entire claim was liable to be allowed and view to the contrary as has been taken by the “CIT(A) is wholly erroneous, as being in-consistent withthe express provisions of law and, on an application of rule

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

In the result, appeal of the assessee is dismissed

5 Vinod Kumar Tandon contribution" refers to the contribution by the employer. The reference to "due date" in the second proviso to section 43B was to have the same meaning as provided in the explanation to section 36(1)(va). Parliament therefore, through this amendment, sought to provide for identity in treatment of the two kinds of payments: those made

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

The appeals are partly allowed

Bench: Shri. Sudhanshu Srivastava & Shri Nikhil Choudhary

disallowed 5% of the payments made by the assessee in cash, i.e., 5% of Rs.8.00 lakhs, which came to Rs.40,000/- and the same was also added to the income of the assessee. The AO completed the assessment under section 143(3)/147 of the Act, assessing the total income of the assessee at Rs.47,43

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

The appeals are partly allowed

Bench: Shri. Sudhanshu Srivastava & Shri Nikhil Choudhary

disallowed 5% of the payments made by the assessee in cash, i.e., 5% of Rs.8.00 lakhs, which came to Rs.40,000/- and the same was also added to the income of the assessee. The AO completed the assessment under section 143(3)/147 of the Act, assessing the total income of the assessee at Rs.47,43

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

The appeals are partly allowed

Bench: Shri. Sudhanshu Srivastava & Shri Nikhil Choudhary

disallowed 5% of the payments made by the assessee in cash, i.e., 5% of Rs.8.00 lakhs, which came to Rs.40,000/- and the same was also added to the income of the assessee. The AO completed the assessment under section 143(3)/147 of the Act, assessing the total income of the assessee at Rs.47,43

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

The appeals are partly allowed

Bench: Shri. Sudhanshu Srivastava & Shri Nikhil Choudhary

disallowed 5% of the payments made by the assessee in cash, i.e., 5% of Rs.8.00 lakhs, which came to Rs.40,000/- and the same was also added to the income of the assessee. The AO completed the assessment under section 143(3)/147 of the Act, assessing the total income of the assessee at Rs.47,43

SANJANA,ALLAHABAD vs. ITO, WARD- 1 (5), ALLAHABAD

The appeals are partly allowed

Bench: Shri. Sudhanshu Srivastava & Shri Nikhil Choudhary

disallowed 5% of the payments made by the assessee in cash, i.e., 5% of Rs.8.00 lakhs, which came to Rs.40,000/- and the same was also added to the income of the assessee. The AO completed the assessment under section 143(3)/147 of the Act, assessing the total income of the assessee at Rs.47,43

SANJANA,ALLAHABAD vs. ITO, WARD-1(5), ALLAHABAD

The appeals are partly allowed

Bench: Shri. Sudhanshu Srivastava & Shri Nikhil Choudhary

disallowed 5% of the payments made by the assessee in cash, i.e., 5% of Rs.8.00 lakhs, which came to Rs.40,000/- and the same was also added to the income of the assessee. The AO completed the assessment under section 143(3)/147 of the Act, assessing the total income of the assessee at Rs.47,43

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

The appeals are partly allowed

Bench: Shri. Sudhanshu Srivastava & Shri Nikhil Choudhary

disallowed 5% of the payments made by the assessee in cash, i.e., 5% of Rs.8.00 lakhs, which came to Rs.40,000/- and the same was also added to the income of the assessee. The AO completed the assessment under section 143(3)/147 of the Act, assessing the total income of the assessee at Rs.47,43

SANJANA,ALLAHABAD vs. ITO, WARD- 1 (5), ALLAHABAD

The appeals are partly allowed

Bench: Shri. Sudhanshu Srivastava & Shri Nikhil Choudhary

disallowed 5% of the payments made by the assessee in cash, i.e., 5% of Rs.8.00 lakhs, which came to Rs.40,000/- and the same was also added to the income of the assessee. The AO completed the assessment under section 143(3)/147 of the Act, assessing the total income of the assessee at Rs.47,43

SANJANA,ALLAHABAD vs. ITO, WARD-1(5), ALLAHABAD

The appeals are partly allowed

Bench: Shri. Sudhanshu Srivastava & Shri Nikhil Choudhary

disallowed 5% of the payments made by the assessee in cash, i.e., 5% of Rs.8.00 lakhs, which came to Rs.40,000/- and the same was also added to the income of the assessee. The AO completed the assessment under section 143(3)/147 of the Act, assessing the total income of the assessee at Rs.47,43

SANJANA,ALLAHABAD vs. ITO, WARD- 1(5), ALLAHABAD

The appeals are partly allowed

Bench: Shri. Sudhanshu Srivastava & Shri Nikhil Choudhary

disallowed 5% of the payments made by the assessee in cash, i.e., 5% of Rs.8.00 lakhs, which came to Rs.40,000/- and the same was also added to the income of the assessee. The AO completed the assessment under section 143(3)/147 of the Act, assessing the total income of the assessee at Rs.47,43

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

section 43(5) which is excluded from the definition of 'speculative transaction' with effect from 01.04.2006. 4. BECAUSE the appellant has rightly set-off the losses from derivative trading brought forward from assessment year 2008-09 against the current year income from derivative trading. 5. BECAUSE the order appealed against is contrary to the facts, law and principle of natural

KESARWANI MARKETING(P) LTD.,ALLAHABAD vs. JT.CIT,, ALLAHABAD

In the result appeal filed by assessee in ITA No

Bench: Shri Vijay Pal Rao & Shri Ramit Kochar

5) and restricted the disallowance to the parties wherein the aggregate payments or credits in a year exceeded Rs. 50,000/-. The ld. CIT(A) also considered the requirement of Section 194C,when the payment/credit in a day exceeded Rs. 20,000/- to a party, while sustaining disallowance. Thus, ld. CIT(A) after considering the replies of the assessee

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

5) and restricted the disallowance to the parties wherein the aggregate payments or credits in a year exceeded Rs. 50,000/-. The ld. CIT(A) also considered the requirement of Section 194C,when the payment/credit in a day exceeded Rs. 20,000/- to a party, while sustaining disallowance. Thus, ld. CIT(A) after considering the replies of the assessee

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

5) and restricted the disallowance to the parties wherein the aggregate payments or credits in a year exceeded Rs. 50,000/-. The ld. CIT(A) also considered the requirement of Section 194C,when the payment/credit in a day exceeded Rs. 20,000/- to a party, while sustaining disallowance. Thus, ld. CIT(A) after considering the replies of the assessee

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

5) and restricted the disallowance to the parties wherein the aggregate payments or credits in a year exceeded Rs. 50,000/-. The ld. CIT(A) also considered the requirement of Section 194C,when the payment/credit in a day exceeded Rs. 20,000/- to a party, while sustaining disallowance. Thus, ld. CIT(A) after considering the replies of the assessee

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

5) and restricted the disallowance to the parties wherein the aggregate payments or credits in a year exceeded Rs. 50,000/-. The ld. CIT(A) also considered the requirement of Section 194C,when the payment/credit in a day exceeded Rs. 20,000/- to a party, while sustaining disallowance. Thus, ld. CIT(A) after considering the replies of the assessee