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

4) Because the CIT(A) erred both on facts and in law in sustaining the addition of Rs.36,68,20,842/- for Grants and Funds received. (5) Because the order of the CIT(A) is generally bad both on facts and in law. AYs. 2014-15 to 2016-17 (6) Because the assessee reserves the right to rescind

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)

4,53,62,000/-. Thus from the set of facts on record, it is very evident that assessee has wrongly claimed proportionate expenditure of Rs. 41,57,076/- as cost of improvement. 5 Assessment Year: 2012-13 Sanjay Majumdar 3.2 Under Section 48 mode of computation a capital gain has been provided that while calculating capital gains the cost

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