ALLAHABAD DEVELOPMENT AUTHORITY,ALLAHABAD vs. ACIT (EXEMPTION), LUCKNOW

In the result all three appeals of the Assessee are partly allowed

Bench: Sh. Sudhanshu Srivastava & Sh. Nikhil Choudhary

section 20(2) of the 1973 Act, mandate that the funds of the authority are to be applied towards meeting the expenses of the authority in the administration of that Act and for no other purpose. iv. The contention of the Revenue that the assessee was a commercial enterprise which had undertaken various civil construction work on behalf of State

M/S. GOVIND STONE PRIVATE LIMITED ,HAMIRPUR vs. INCOME TAX OFFICER -5(4), BANDA

Bench: Shrivijay Pal Rao & Shri Ramit Kochar

price of Rs. 90/- per equity share comprising face value of Rs. 10 per equity share and share premium of Rs. 80 per equity share, aggregating to total amount raised to the tune of Rs. 1,53,00,000/- . The additions u/s 68 read with Section 158BBE is made wrt 168000 equity shares issued to 5 corporate entities, while additions

M/S MILLENIUM CONSULTANTS& SERVICE PROVIDERS,,ALLAHABAD vs. DCIT, ALLAHABAD

In the result, appeal filed by the assessee is partly allowed

Bench: Shri Vijay Pal Rao & Shri Ramit Kochar

price to the students , who were interested in persuing the course and registering for studies, but the sale proceeds are not declared in the books of accounts and have escaped assessment. The onus is on the assessee to prove with cogent material/evidences that stock of prospectus held by it is duly accounted for by it and no income has escaped

SANJAY MAJUMDAR,ALLAHABAD vs. PR. CIT, ALLAHABAD

Bench: Shri.Vijay Pal Rao & Shri Ramit Kocharassessment Year: 2012-13 Mr. Sanjay Majumdar, V. The Principal Commissioner Type Ii – 112, Devprayagam Of Income Tax, Sangam Vatika – Jhalwa, Aayakar Bhawan, Allahabad 211012 38, M.G. Marg, Civil Lines, Allahabad 211001 Pan: Adopm 2688P (Appellant) (Respondent)

38, M.G. Marg, Civil Lines, Allahabad 211001 PAN: ADOPM 2688P (Appellant) (Respondent) Appellant by: Shri Basudev Banerjee, CA Respondent by: Shri Debashish Chanda, CIT-DR Date of hearing: 12. 01. 2021 Date of pronouncement: 28.01. 2021 O R D E R PER SHRI RAMIT KOCHAR, ACCOUNTANT MEMBER: This appeal, filed by assessee, being ITA No. 68/Alld/2018, for assessment year