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

6 and 7 concerns itself with disallowance of marketing expenses to the tune of 19,74,401/- made by the AO which disallowance of expenses stood reduced by ld. CIT(A) to Rs. 13,64,337/- , being additions made by invoking Assessment Year: 2009-10 & 2010-11 M/s. Kesarwani Marketing Private Limited, Allahabad U.P. v. JCIT (OSD), Central Circle, Allahabad

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

6 and 7 concerns itself with disallowance of marketing expenses to the tune of 19,74,401/- made by the AO which disallowance of expenses stood reduced by ld. CIT(A) to Rs. 13,64,337/- , being additions made by invoking Assessment Year: 2009-10 & 2010-11 M/s. Kesarwani Marketing Private Limited, Allahabad U.P. v. JCIT (OSD), Central Circle, Allahabad

SBW UDYOG LIMITED,,PRAYAGRAJ vs. DCIT, CIR-1,, ALLAHABAD

In the result, the appeal of the assessee is dismissed

Bench: Sh.Sudhanshu Srivastava & Sh. Nikhil Choudharya.Y.2021-22 Sbw Udyog Limited, Vs. Deputy Commissioner Of Income 44, Thornhill Road, Prayagraj Tax, Circle-1, Prayagraj Pan:Aadcs2883B (Appellant) (Respondent) Assessee By: Sh. N.C. Agrawal, C.A. Revenue By: Sh. A.K. Singh, Sr. Dr Date Of Hearing: 18.12.2024 Date Of Pronouncement: 13 .03.2025 O R D E R Per Nikhil Choudhary, A.M.: This Is An Appeal Filed Against The Orders Of The Ld. Cit(A) Under Section 250 Of The Income Tax Act, 1961 On 31.01.2024, Dismissing The Appeal Of The Assessee Against The Orders Of The Cpc Bengaluru, Under Section, 143(1) Dated 17.10.2022. Subsequently, The Said Appeal Was Migrated To The Nfac & Later On, The Appeal Proceedings Were Transferred To The Additional / Jcit(A), Aurangabad, Who Has Dismissed The Appeal Of The Assessee. The Grounds Of Appeal Preferred By The Assessee Are As Under:- “1. Because, Income Tax Department, Ministry Of Finance, Government Of India Has Observed In The Notice Under Section 250 Of The Income Tax Act, 1961, Which Reads As Under:- "The Income Tax Department Recognizes & Is Sensitive To The Hardships Being Faced By Taxpayers In Coping With The Challenges Posed By Covid-19 Pandemic." Consequently, Appeal Is Liable To Be Allowed.

disallowance made is liable to be deleted. 5. Because, returned income has been accepted in the order passed Under Section 143 (3) of the Act dated 21/12/2022 without any addition, whatsoever hence the addition made for a sum of Rs. 43,04,355/-in the order passed Under Section 143 (1) of the Act is liable to be deleted. 6

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 was excluded from the definition of, ‘Speculative transaction’ w.e.f. 1.04.2006. It was submitted that the assessee had rightly set off the losses from derivative trading brought forward from A.Y. 2008-09 against the income of the current year from derivative trading. It was, therefore, submitted that the loss may kindly be allowed to 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

disallowance of expenses to Rs. 3,98,526/- after considering requirements of Section 194C, that the payment/credit to a party in a day in aggregate should exceed Rs. 20,000/- and further in a year aggregate payments/credits to a party should exceed Rs. 50,000/- . It was submitted that the distributors were acting as agents on behalf of the assessee

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

disallowance of expenses to Rs. 3,98,526/- after considering requirements of Section 194C, that the payment/credit to a party in a day in aggregate should exceed Rs. 20,000/- and further in a year aggregate payments/credits to a party should exceed Rs. 50,000/- . It was submitted that the distributors were acting as agents on behalf 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

disallowance of expenses to Rs. 3,98,526/- after considering requirements of Section 194C, that the payment/credit to a party in a day in aggregate should exceed Rs. 20,000/- and further in a year aggregate payments/credits to a party should exceed Rs. 50,000/- . It was submitted that the distributors were acting as agents on behalf 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

disallowance of expenses to Rs. 3,98,526/- after considering requirements of Section 194C, that the payment/credit to a party in a day in aggregate should exceed Rs. 20,000/- and further in a year aggregate payments/credits to a party should exceed Rs. 50,000/- . It was submitted that the distributors were acting as agents on behalf of the assessee

JYOTI MEDISERVICES PRIVATE LIMITED,ALLAHABAD vs. DCIT, CENTRAL CIRCLE, ALLAHABAD, ALLAHABAD

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

6 (A.1) For the sake of convenience, these appeals are hereby disposed of through this consolidated order. At the time of hearing before us, at the outset, learned Counsel for the assessee submitted that these appeals are squarely covered by earlier order of the Allahabad Bench of Income Tax Appellate Tribunal in the case of Minto Developers Pvt. Ltd. (I.T.A

ASSISTANT COMMISSIONER OF INCOME TAX, ALLAHABAD vs. JYOTI MEDISERVICES LTD., ALLAHABAD

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

6 (A.1) For the sake of convenience, these appeals are hereby disposed of through this consolidated order. At the time of hearing before us, at the outset, learned Counsel for the assessee submitted that these appeals are squarely covered by earlier order of the Allahabad Bench of Income Tax Appellate Tribunal in the case of Minto Developers Pvt. Ltd. (I.T.A

JYOTI MEDISERVICES PRIVATE LIMITED,,ALLAHABAD vs. DCIT, CENTRAL CIRCLE,, ALLAHABAD

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

6 (A.1) For the sake of convenience, these appeals are hereby disposed of through this consolidated order. At the time of hearing before us, at the outset, learned Counsel for the assessee submitted that these appeals are squarely covered by earlier order of the Allahabad Bench of Income Tax Appellate Tribunal in the case of Minto Developers Pvt. Ltd. (I.T.A

JYOTI MEDISERVICES PRIVATE LIMITED, ,ALLAHABAD vs. DCIT, CENTRAL CIRCLE, , ALLAHABAD

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

6 (A.1) For the sake of convenience, these appeals are hereby disposed of through this consolidated order. At the time of hearing before us, at the outset, learned Counsel for the assessee submitted that these appeals are squarely covered by earlier order of the Allahabad Bench of Income Tax Appellate Tribunal in the case of Minto Developers Pvt. Ltd. (I.T.A

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

In the result the appeal of the assessee is partly allowed

43. Ground No. 9 pertains to the disallowance of interest of Rs. 27,528/-. The ground has not been pressed by the Ld. AR, and is, therefore, dismissed as withdrawn. 44. Ground No. 2 relates to the deniability to be assessed under block assessment, in view of the contention that no valid search was carried out. In view

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

In the result the appeal of the assessee is partly allowed

43. Ground No. 9 pertains to the disallowance of interest of Rs. 27,528/-. The ground has not been pressed by the Ld. AR, and is, therefore, dismissed as withdrawn. 44. Ground No. 2 relates to the deniability to be assessed under block assessment, in view of the contention that no valid search was carried out. In view

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

In the result the appeal of the assessee is partly allowed

43. Ground No. 9 pertains to the disallowance of interest of Rs. 27,528/-. The ground has not been pressed by the Ld. AR, and is, therefore, dismissed as withdrawn. 44. Ground No. 2 relates to the deniability to be assessed under block assessment, in view of the contention that no valid search was carried out. In view

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.47,43,380/-. 3.2 Aggrieved

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.47,43,380/-. 3.2 Aggrieved

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.47,43,380/-. 3.2 Aggrieved

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.47,43,380/-. 3.2 Aggrieved