INCOME TAX OFFICER-3(4), KANPUR vs. SHRI SANTOSH KUMAR AGARWAL, KANPUR

In the result, the appeal of the Revenue is dismissed

Bench: Shri T. S. Kapoor

Loss. SEBI has directed stock exchange to suspend trading in more than 26 Scripts listed in BSE. Promoters and key entry operators of such stocks were identified and their statements were recorded. Ail these evidences collected were given to all the AOs for taking further necessary action as per law. On perusal of the facts mentioned in the assessment order

MARGHOOB ALAM,KANPUR vs. DCUT, CC-II, KANPUR, KANPUR

In the result, all the appeals of the assessees are partly allowed

Bench: Shri A. D. Jain & Shri T. S. Kapoor

carried out through penny scripts companies/paper companies?" I.T.A. No.61 to 65/Lkw/2021 Assessment year:2012-13 30 2. We take notice of the fact that the issue in the present appeal is whether the assessee earned long term capital gain through transactions with bogus companies. In this regard, the finding of fact recorded by the Tribunal in paras

SHAHEEN RABIA,KANPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE -II, KANPUR

In the result, all the appeals of the assessees are partly allowed

Bench: Shri A. D. Jain & Shri T. S. Kapoor

carried out through penny scripts companies/paper companies?" I.T.A. No.61 to 65/Lkw/2021 Assessment year:2012-13 30 2. We take notice of the fact that the issue in the present appeal is whether the assessee earned long term capital gain through transactions with bogus companies. In this regard, the finding of fact recorded by the Tribunal in paras

ZAIN ALAM,KANPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- II, KANPUR

In the result, all the appeals of the assessees are partly allowed

Bench: Shri A. D. Jain & Shri T. S. Kapoor

carried out through penny scripts companies/paper companies?" I.T.A. No.61 to 65/Lkw/2021 Assessment year:2012-13 30 2. We take notice of the fact that the issue in the present appeal is whether the assessee earned long term capital gain through transactions with bogus companies. In this regard, the finding of fact recorded by the Tribunal in paras

NISHAT ARA,KANPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-II, KANPUR

In the result, all the appeals of the assessees are partly allowed

Bench: Shri A. D. Jain & Shri T. S. Kapoor

carried out through penny scripts companies/paper companies?" I.T.A. No.61 to 65/Lkw/2021 Assessment year:2012-13 30 2. We take notice of the fact that the issue in the present appeal is whether the assessee earned long term capital gain through transactions with bogus companies. In this regard, the finding of fact recorded by the Tribunal in paras

NAUSHEEN FARAH,KANPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-II, KANPUR

In the result, all the appeals of the assessees are partly allowed

Bench: Shri A. D. Jain & Shri T. S. Kapoor

carried out through penny scripts companies/paper companies?" I.T.A. No.61 to 65/Lkw/2021 Assessment year:2012-13 30 2. We take notice of the fact that the issue in the present appeal is whether the assessee earned long term capital gain through transactions with bogus companies. In this regard, the finding of fact recorded by the Tribunal in paras

ACIT, RANGE-1, LUCKNOW vs. MAA RAKTDANTIKA CONTRACTORS AND SUPPLIERS PVT. LTD., LUCKNOW

In the result, the appeal filed by the Revenue is dismissed and the appeal filed by the assessee is allowed for statistical purposes

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

carries on its activities within the four corners of its objects. Whatever income a company has it has to have a source. If the AO has to disbelieve the assessee submissions, the books of account have to be rejected and it has to be demonstrated/established that the assessee company has income from “other sources” also from which income has been

M/S. MAA RAKLTDANTIKA CONTRACTORS AND SUPPLIERS PVT. LTD.,,LUCKNOW vs. THE DCIT/ACIT, RANGE-4, LUCKNOW

In the result, the appeal filed by the Revenue is dismissed and the appeal filed by the assessee is allowed for statistical purposes

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

carries on its activities within the four corners of its objects. Whatever income a company has it has to have a source. If the AO has to disbelieve the assessee submissions, the books of account have to be rejected and it has to be demonstrated/established that the assessee company has income from “other sources” also from which income has been

INCOME TAX OFFICER-1(3), KANPUR vs. SHRI RAJ KUMAR AGARWAL, KANPUR

In the result, both the appeals of the Revenue are dismissed

Bench: Shri T.S. Kapoor

Loss. SEBI has directed stock exchange to suspend trading in more than 26 Scripts listed in BSE. Promoters and key entry operators of such stocks were identified and their statements were recorded. Ail these evidences collected were given to all the AOs for taking further necessary action as per law. On perusal of the facts mentioned in the assessment order

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, BAREILLY, BAREILLY vs. VARUNARJUN TRUST, LUCKNOW

In the result, both the appeals are dismissed

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

purchased during the year at AwasVikas, Civil Lines, Bareilly. The AO after making due enquiries accepted the transaction of the appellant in the original assessment proceedings. The appellant recorded and fully and truly disclose all material facts necessary for his assessment. However AO in his reasons recorded as reproduced above grossly erred in law and on facts in issuing notice

ASSISTANT COMMISSIONER OF INCOME TAX (CENTRAL CIRCLE), BAREILLY vs. VARUNARJUN TRUST, LUCKNOW

In the result, both the appeals are dismissed

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

purchased during the year at AwasVikas, Civil Lines, Bareilly. The AO after making due enquiries accepted the transaction of the appellant in the original assessment proceedings. The appellant recorded and fully and truly disclose all material facts necessary for his assessment. However AO in his reasons recorded as reproduced above grossly erred in law and on facts in issuing notice

SHRI BHUPENDRA KUMAR AGARWAL,LUCKNOW vs. ASSTT. COMMISSIONER OF INCOME TAX, RANGE-III, LUCKNOW

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

Bench: Shri Kul Bharat & Shri Anadee Nath Misshraassessment Year: 2014-15 Dcit, Range-3 V. Shri Bhupendra Kumar 27/2, Raja Ram Mohan Rai Agarwal Marg, P.K. Complex, Lucknow- Bhagwati Industrial 226001. Compound, Mohibullapur, Lucknow-226020. Tan/Pan:Adppa9782P (Appellant) (Respondent) Assessment Year: 2014-15 Shri Bhupendra Kumar V. Acit Range-Iii Agarwal Lucknow-226010. Bhagwati Industrial Compound, Mohibullapur, Lucknow- 226020. Tan/Pan: Adppa9782P (Appellant) (Respondent) Appellant By: Shri Suyash Agarwal, Adv Respondent By: Shri R. K. Agarwal, Cit(Dr) Date Of Hearing: 02 09 2025 Date Of Pronouncement: 17 10 2025 O R D E R

carried the matter in appeal before the Ld. CIT(A), who partly allowed the appeal. Out of the impugned additions related to unsecured loan, unsecured creditors and the expenses debited into the profit and loss account (P&L), the Ld. CIT(A) fully deleted the addition made on account of unsecured loan, partly allowed the claim with regard to unsecured

DCIT, RANGE-3, LUCKNOW vs. SHRI BHUPENDRA KUMAR AGARWAL, LUCKNOW

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

Bench: Shri Kul Bharat & Shri Anadee Nath Misshraassessment Year: 2014-15 Dcit, Range-3 V. Shri Bhupendra Kumar 27/2, Raja Ram Mohan Rai Agarwal Marg, P.K. Complex, Lucknow- Bhagwati Industrial 226001. Compound, Mohibullapur, Lucknow-226020. Tan/Pan:Adppa9782P (Appellant) (Respondent) Assessment Year: 2014-15 Shri Bhupendra Kumar V. Acit Range-Iii Agarwal Lucknow-226010. Bhagwati Industrial Compound, Mohibullapur, Lucknow- 226020. Tan/Pan: Adppa9782P (Appellant) (Respondent) Appellant By: Shri Suyash Agarwal, Adv Respondent By: Shri R. K. Agarwal, Cit(Dr) Date Of Hearing: 02 09 2025 Date Of Pronouncement: 17 10 2025 O R D E R

carried the matter in appeal before the Ld. CIT(A), who partly allowed the appeal. Out of the impugned additions related to unsecured loan, unsecured creditors and the expenses debited into the profit and loss account (P&L), the Ld. CIT(A) fully deleted the addition made on account of unsecured loan, partly allowed the claim with regard to unsecured

DEPUTY COMMISSIONER OF INCOME TAX-6, LUCKNOW vs. M/S. U.P. STATE CONSTRUCTION & INFRASTRUCTURE DEVELOPMENT CORPORATION LIMITED, LUCKNOW

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

loss on sale of Fixed Assets Rs. 8,83,439/-along with provision for incentive allowance Rs. 21,40,000/- under the head Employee Benefit Expenses' and yet taking an adverse view of the matter which amounts to arbitrary exercise of power.3 5. That the Ld. PCIT was wrong in referring the ITAT order dated

SMT. SABREEN,KANPUR vs. INCOME TAX OFFICER-3(4), KANPUR

In the result, the appeal of the assessee stands partly allowed and Stay Application is dismissed as infructuous

Bench: Shri A. D. Jain & Shri T. S. Kapoor

carried away by the report of the Investigation Wing Kolkata. It can be seen that the entire assessment has been framed by the Assessing Officer without conducting any enquiry from the relevant parties or independent source or evidence but has merely relied upon the statements recorded by the Investigation Wing as well as information received from the Investigation Wing

ASSISTANT COMMISIONER OF INCOME TAX, CENTRAL CIRCLE, BAREILLY, BAREILLY vs. MOHIT ANAND, BAREILLY

Appeals of the Department stand dismissed

Bench: Shri Sudhanshu Srivastava & Shri Nikhil Choudharyit(Ss) A Nos.336 & 337/Lkw/2025 Assessment Years: 2014-15 & 2015-16 Acit, Central Circle, Bareilly Vs. Ankur Anand Kamla Nehru Marg, Civil Lines, 148 Civil Lines, Bareilly, Bareilly, Bareilly-243001. Bareilly-243001. Tan/Pan:Agppa4219C (Appellant) (Respondent) It(Ss)A No.334/Lkw/2025 Assessment Year:2015-16 Acit, Central Circle, Bareilly Vs. Mohit Anand Kamla Nehru Marg, Civil Lines, 148 Civil Lines, Bareilly, Bareilly, Bareilly-243001. Bareilly-243001. Tan/Pan:Abupa3002H (Appellant) (Respondent)

loss account for FY 2013-14 found in digital form were found and seized during the search proceedings in the case of the assessee, and assessees statement under section 132(4) of the Act was also recorded on this issue. 4. Whether on facts and circumstances of the case and in law. the CIT(A) has erred in ignoring

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, BAREILLY, BAREILLY vs. ANKUR ANAND, BAREILLY

Appeals of the Department stand dismissed

Bench: Shri Sudhanshu Srivastava & Shri Nikhil Choudharyit(Ss) A Nos.336 & 337/Lkw/2025 Assessment Years: 2014-15 & 2015-16 Acit, Central Circle, Bareilly Vs. Ankur Anand Kamla Nehru Marg, Civil Lines, 148 Civil Lines, Bareilly, Bareilly, Bareilly-243001. Bareilly-243001. Tan/Pan:Agppa4219C (Appellant) (Respondent) It(Ss)A No.334/Lkw/2025 Assessment Year:2015-16 Acit, Central Circle, Bareilly Vs. Mohit Anand Kamla Nehru Marg, Civil Lines, 148 Civil Lines, Bareilly, Bareilly, Bareilly-243001. Bareilly-243001. Tan/Pan:Abupa3002H (Appellant) (Respondent)

loss account for FY 2013-14 found in digital form were found and seized during the search proceedings in the case of the assessee, and assessees statement under section 132(4) of the Act was also recorded on this issue. 4. Whether on facts and circumstances of the case and in law. the CIT(A) has erred in ignoring

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, BAREILLY, BAREILLY vs. ANKUR ANAND, BAREILLY

Appeals of the Department stand dismissed

Bench: Shri Sudhanshu Srivastava & Shri Nikhil Choudharyit(Ss) A Nos.336 & 337/Lkw/2025 Assessment Years: 2014-15 & 2015-16 Acit, Central Circle, Bareilly Vs. Ankur Anand Kamla Nehru Marg, Civil Lines, 148 Civil Lines, Bareilly, Bareilly, Bareilly-243001. Bareilly-243001. Tan/Pan:Agppa4219C (Appellant) (Respondent) It(Ss)A No.334/Lkw/2025 Assessment Year:2015-16 Acit, Central Circle, Bareilly Vs. Mohit Anand Kamla Nehru Marg, Civil Lines, 148 Civil Lines, Bareilly, Bareilly, Bareilly-243001. Bareilly-243001. Tan/Pan:Abupa3002H (Appellant) (Respondent)

loss account for FY 2013-14 found in digital form were found and seized during the search proceedings in the case of the assessee, and assessees statement under section 132(4) of the Act was also recorded on this issue. 4. Whether on facts and circumstances of the case and in law. the CIT(A) has erred in ignoring