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

22 of the Bill seeks to amend section 68 of the Income-tax Act relating to cash credits. 51 Assessment Year: 2013-14 M/s. Govind Stone Pvt. Ltd. v. ITO Banda “The existing provisions of the aforesaid section 68 provide that where any sum is found credited in the books of an assessee maintained for any previous year

MEJA URJA NIGAM (P) LTD.,ALLAHABAD vs. INCOME TAX OFFICE WARD-2 (2), ALLAHABAD

In the result, both the appeals of the assessee for ay: 2015-16 and 2016-17

Bench: Shri.Vijay Pal Rao & Shri Ramit Kochar

transferred by the bank in short term MODs Accounts in accordance with the account terms and conditions. The said MODs were reversed automatically as and when the assesses withdrew the amounts From account. There was no intention to earn any interest on such funds. The funds were kept in liquid so as to use them as and when required, since

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