RAKESH KUMAR PANDEY,GONDA vs. DCIT/ACIT, (CENTRAL)-2, LUCKNOW

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

house property donated by violation of provisions of section 54F of Income Tax Act. 5. Whether on facts and circumstances of the case and in law, the CIT(A) erred in deleting the addition of Rs.37,00,000/- on account of agricultural income in tune of Rs.52,00,000/-. 6. Whether on facts and circumstances of the case

RAKESH KUMAR PANDEY,GONDA vs. DCIT/ACIT (CENTRAL)-2, LUCKNOW

house property situated at\nLucknow at the time of transfer of property that violates the provisions of section 54F\nof Income Tax Act, 1961.\n\nI.T.A. No.608/Lkw/2024, A.Y. 2020-21 (Revenue’s Appeal)\n\n4. Whether on facts and circumstances of the case and in law, the CIT(A) erred in\ndeleting the addition of Rs.1,74,492/- on account

SHRI JASMINDER SINGH,LUCKNOW vs. DY. COMMISSIONER OF INCOME TAX-IV, LUCKNOW

In the result, the appeal of the assessee stands allowed

Bench: Shri T. S. Kapoorassessment Year:2013-14

TDS on rent of Rs.3,00,000/- Therefore, ground No. 2 is allowed. 4.1 Now coming to the second grievance regarding confirmation of disallowance of Rs.8,62,720/-, which the assessee had paid as interest to Tata Capital Housing Finance Ltd., I find that assessee had though purchased the house and had obtained a housing loan but the property

DCIT, CENTRAL CIRCLE-2, LUCKNOW, LUCKNOW vs. RAKESH KUMAR PANDEY, GONDA

house property situated at Lucknow at the time of transfer of property that\nviolates the provisions of section 54F of Income Tax Act, 1961.\nC.O.No.27/Lkw/2024, A.Y. 2021-22 (Assessee’s C.O.)\n1. Because the Ld. CIT(A) Lucknow-III has erred on facts & law while\nsustaining the addition of Rs.9,76,800/- being difference between amount\ndetermined

RAKESH KUMAR PANDEY,GONDA vs. DCIT/ACIT (CENTRAL)-2, LUCKNOW

In the result, the outcome of the appeals and Cross Objections are as under:

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

property was converted into freehold through registered deed on 24/10/2017. During the assessment proceeding of AY 2014-15, AO has referred the valuation of said property u/s 50C/142A in response to which Valuation Officer, Allahabad has estimated the FMV of lease property as on 04/10/2013 at Rs. 43,46,000/- against actual consideration of Rs. 31,45,000/- vide valuation

RAKESH KUMAR PANDEY,GONDA vs. DCIT/ACIT (CENTRAL)-2, LUCKNOW

In the result, the outcome of the appeals and Cross Objections are as under:

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

property was converted into freehold through registered deed on 24/10/2017. During the assessment proceeding of AY 2014-15, AO has referred the valuation of said property u/s 50C/142A in response to which Valuation Officer, Allahabad has estimated the FMV of lease property as on 04/10/2013 at Rs. 43,46,000/- against actual consideration of Rs. 31,45,000/- vide valuation

ACIT, CENTRAL CIRCLE-II, LUCKNOW, LUCKNOW vs. RAKESH KUMAR PANDEY, GONDA U.P.

In the result, the outcome of the appeals and Cross Objections are as under:

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

property was converted into freehold through registered deed on 24/10/2017. During the assessment proceeding of AY 2014-15, AO has referred the valuation of said property u/s 50C/142A in response to which Valuation Officer, Allahabad has estimated the FMV of lease property as on 04/10/2013 at Rs. 43,46,000/- against actual consideration of Rs. 31,45,000/- vide valuation

RAKESH KUMAR PANDEY,GONDA vs. DCIT/ACIT, (CENTRAL)-2, LUCKNOW

house property situated at\nLucknow at the time of transfer of property that violates the provisions of section 54F\nof Income Tax Act, 1961.\n\nI.T.A. No.608/Lkw/2024, A.Y. 2020-21 (Revenue’s Appeal)\n\n1. Whether on facts and circumstances of the case and in law, the CIT(A) erred in\ndeleting the addition of Rs.93,93,846/- on account

SHRI VINEET MEHROTRA,HARDOI vs. I.T.O.-1(5), SHAHJAHANPUR

In the result, the appeal of the assessee stands allowed

Bench: Shri T. S. Kapoor

TDS and which actually did not belong to him and rather belonged to his family members. The assessee also submitted that since the income did not belong to assessee therefore, he transferred the amount of such rent received to the co-owners and therefore, he claimed the deduction u/s 57 of the Act. The Assessing Officer held that the claim

DCIT, CENTRAL CIRCLE-2, LUCKNOW, LUCKNOW vs. RAKESH KUMAR PANDEY, GONDA UP

property at Khata No. 192/2, Gata No. 447/2, Civil Lines, Gonda on\naccount of estimation made by VO, without appreciating the fact that the total\naddition made by the AO was Rs.61,94,596/-. The estimation of VO at Rs.\n32,61,603/-. Therefore, the difference in NP at 7% applied by the AO of Rs.\n29,32,993/- which

NIRMALA TRIVEDI,KANPUR vs. AO CIRCLE-1(1)(1), KANPUR

In the result, the appeal of the assessee is partly allowed for\nstatistical purposes

House Property\nwithout appreciating the facts on record.\n\n3. The learned AO has erred in law and on facts in making\naddition of Rs.46,75,658/- under the head income from other\nsources without appreciating the facts on record.\n\n4. The learned AO has erred in law and on facts to allow TDS

PRADEEP KUMAR,LUCKNOW vs. ACIT-1, LUCKNOW

In the result, the appeal of the assessee is partly allowed

Bench: Shri G. D. Padamahshali & Shri Subhash Malguriaassessment Year: 2017-18 Pradeep Kumar V. The Acit-1 A-1/46, Vikas Khand Lucknow Gomti Nagar Lucknow Pan:Ablpk8392B (Appellant) (Respondent) Appellant By: Shri Vijay Prakash Agrawal, Adv. Respondent By: Shri Sanjeev Krishna Sharma, D.R. Date Of Hearing: 10 07 2024 Date Of Pronouncement: 04 09 2024 O R D E R

house property at Rs.2,52,000/-, income from other sources (being interest) at Rs.17,20,261/- and long term capital gain at Rs.5,90,244/-. On the total turnover of Rs.31,47,84,794/-, assessee declared gross profit at Rs.1,97,08,882/- and net profit at Rs.1,60,82,364/-. The ITA No.198/LKW/2024 Page 3 of 13 Assessing Officer

INCOME TAX OFFICER-2(3), LUCKNOW vs. U.P AWAS EVAM VIKAS PARISHAD, LUCKNOW

Bench: Sh. Sudhanshu Srivastava & Sh. Nikhil Choudhary

property, interest on differed or delayed payments, thus what was emerging was that the activity of the assessee was purely that of a commercial organization. Therefore, the ld. AO held that the surplus of the assessee was not incidental to its activities but was the desired outcome of its activities. He further commented that the exemption enjoyed under section

DEPUTY COMMISSIONER OF INCOME TAX (EXEMPTION), LUCKNOW vs. M/S U.P AWAS EVAM VIKAS PARISHAD, LUCKNOW

Bench: Sh. Sudhanshu Srivastava & Sh. Nikhil Choudhary

property, interest on differed or delayed payments, thus what was emerging was that the activity of the assessee was purely that of a commercial organization. Therefore, the ld. AO held that the surplus of the assessee was not incidental to its activities but was the desired outcome of its activities. He further commented that the exemption enjoyed under section

INCOME TAX OFFICER-2(3), LUCKNOW vs. U.P AWAS EVAM VIKAS PARISHAD, LUCKNOW

Bench: Sh. Sudhanshu Srivastava & Sh. Nikhil Choudhary

property, interest on differed or delayed payments, thus what was emerging was that the activity of the assessee was purely that of a commercial organization. Therefore, the ld. AO held that the surplus of the assessee was not incidental to its activities but was the desired outcome of its activities. He further commented that the exemption enjoyed under section

U.P HOUSING & DEVELOPMENT BOARD,LUCKNOW vs. INCOME TAX OFFICER-2(3), LUCKNOW

Accordingly all four additional grounds filed by the revenue in Appeal numbers 532 & 533 of 2014, stand dismissed

Bench: Sh. Sudhanshu Srivastava & Sh. Nikhil Choudhary

property, interest on differed or delayed payments, thus what was emerging was that the activity of the assessee was purely that of a commercial organization. Therefore, the ld. AO held that the surplus of the assessee was not incidental to its activities but was the desired outcome of its activities. He further commented that the exemption enjoyed under section

DEPUTY COMMISSIONER OF INCOME TAX (EXEMPTION), LUCKNOW vs. M/S U.P AWAS EVAM VIKAS PARISHAD, LUCKNOW

Bench: Sh. Sudhanshu Srivastava & Sh. Nikhil Choudhary

property, interest on differed or delayed payments, thus what was emerging was that the activity of the assessee was purely that of a commercial organization. Therefore, the ld. AO held that the surplus of the assessee was not incidental to its activities but was the desired outcome of its activities. He further commented that the exemption enjoyed under section

U.P HOUSING & DEVELOPMENT BOARD,LUCKNOW vs. INCOME TAX OFFICER-2(3), LUCKNOW

Bench: Sh. Sudhanshu Srivastava & Sh. Nikhil Choudhary

property, interest on differed or delayed payments, thus what was emerging was that the activity of the assessee was purely that of a commercial organization. Therefore, the ld. AO held that the surplus of the assessee was not incidental to its activities but was the desired outcome of its activities. He further commented that the exemption enjoyed under section