SACHIN VERMA,HAPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE - II, KANPUR

In the result, all the appeals are allowed

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

bogus entries of Long Term Capital Gains (LTCG) by way of sale of shares. It is also the case of the Revenue that during the course of the search operations and post-search investigation, various incriminating documents were found and seized which disclosed that income from sale of shares of penny stock companies was disclosed as LTCG by its beneficiaries

M/S. APCO INFRATECH PVT. LTD.,,LUCKNOW vs. ACIT-I, LUCKNOW

In the result, appeals vide I

35,162/-and Rs.63,21,285/- (erroneously mentioned as Rs.6,32,285/-\nsupra) as computed in terms of Rule 8D(ii) and 8D(iii) respectively.\nConsequently, addition of Rs.2,56,56,447/-has been made to the returned\nincome of the assessee for the said assessment year.\n\nThe assessee was asked to show cause as to why the disallowance

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

iv) That the addition has been made without any further investigation merely on the basis of presumption. 5.1 From the very beginning, it is clear that the re-assessment proceedings were initiated against the assessee merely on the basis of search on the other assessee. However, there is no incriminating material was taken on record. This is to bring attention

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

iv) That the addition has been made without any further investigation merely on the basis of presumption. 5.1 From the very beginning, it is clear that the re-assessment proceedings were initiated against the assessee merely on the basis of search on the other assessee. However, there is no incriminating material was taken on record. This is to bring attention

GURU KRIPA ASSOCIATES,BAREILLY vs. PR. CIT, , BAREILLY

In the result, the appeal of the assessee stands dismissed

35 Taxmann.com\n13(Allahabad) held that,\" Return filed by assessee was scrutinized and\nassessment was completed. Thereafter, Commissioner noticed that\nAO had not conducted proper enquiry to verify cash credit entries\nand trade creditors- He exercised his jurisdiction u/s 263 and\nremanded matter to AO- Assessee filed writ petition against the order.\nRecords showed that AO did not verify genuineness

SHYAM SUNDER GUPTA,KANPUR vs. DY. COMMISSIONER OF INCOME TAX-1, KANPUR

Bench: Shri Kul Bharat & Shri Nikhil Choudhary

bogus was added to the income of the assessee. Further, the Assessing Officer made disallowance of Rs.10,00,000/- claimed as expenses towards packing material consumed, the Assessing Officer on adhoc basis made disallowance of Rs.10,00,000/- out of freight expenses of Rs.25,63,403/- in the absence of any supporting evidences. The Assessing Officer further, made addition

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

1) Kanpur in ITA No. 501/Lkw/2019 dated 16-12-2020 for the A.Y. 2015- 16 decided by the Hon'ble ITAT Lucknow Bench 'A' Lucknow. ii) Smt. Sabreen vs. ITO -3(4), Kanpur in ITA No.498/Lkw/2019 vide order dated 20/07/2021. iii) Shri Surendra Kumar Gupta vs. Dy.CIT in ITA No.125/Lkw/2019, order dated 13/07/2021 iv) Shri Jai Prakash Sharma

MOHD. ASFAND AKHTAR,KANPUR vs. DEPUTI COMMISSIONER OF INCOME TAX CC-2, KANPUR

In the result, the appeal of Revenue in ITA

Bench: Shri Sudhanshu Srivastava & Shri Anadee Nath Misshraassessment Year: 2018-19 Dcit, Cc-2 V. Shri Mohammad Asfand Laxmi Niwas, 10/503, Akhtar Allenganj, Kanpur-208001. Plot No.02, Block-B, Scheme-39, Ram Rai Ki Sarai, Jajmau, Kanpur Nagar-208010. Tan/Pan: Aempa0823R (Appellant) (Respondent) Assessment Year: 2018-19 Shri Mohammad Asfand Akhtar V. Dcit, Central Circle-Ii Plot No.02, Block-B, Scheme-39, 10/503, Allenganj, Kanpur- Ram Rai Ki Sarai, Jajmau, 208001. Kanpur Nagar-208010. Tan/Pan: Aempa0823R (Appellant) (Respondent) Appellant By: Shri Ashish Jaiswal, Advocate Respondent By: Shri R. K. Agarwal, Cit(Dr) O R D E R

bogus and in assessment year 2014-15, the amount involved is Rs.4,56,00,000/- which is from M/s Silver Agencies Pvt. Ltd. During these years also, the assessee had filed the necessary evidences in support of the genuineness of the receipt of unsecured loans. During assessment year 2013-14, the Assessing Officer, vide notice dated 19/02/2018, placed at pages

DY.COMMISSIONER OF INCOME TAX,CC-2,, KANPUR vs. SHRI.MOHAMMAD ASFAND AKHTAR, KANPUR

In the result, the appeal of Revenue in ITA

Bench: Shri Sudhanshu Srivastava & Shri Anadee Nath Misshraassessment Year: 2018-19 Dcit, Cc-2 V. Shri Mohammad Asfand Laxmi Niwas, 10/503, Akhtar Allenganj, Kanpur-208001. Plot No.02, Block-B, Scheme-39, Ram Rai Ki Sarai, Jajmau, Kanpur Nagar-208010. Tan/Pan: Aempa0823R (Appellant) (Respondent) Assessment Year: 2018-19 Shri Mohammad Asfand Akhtar V. Dcit, Central Circle-Ii Plot No.02, Block-B, Scheme-39, 10/503, Allenganj, Kanpur- Ram Rai Ki Sarai, Jajmau, 208001. Kanpur Nagar-208010. Tan/Pan: Aempa0823R (Appellant) (Respondent) Appellant By: Shri Ashish Jaiswal, Advocate Respondent By: Shri R. K. Agarwal, Cit(Dr) O R D E R

bogus and in assessment year 2014-15, the amount involved is Rs.4,56,00,000/- which is from M/s Silver Agencies Pvt. Ltd. During these years also, the assessee had filed the necessary evidences in support of the genuineness of the receipt of unsecured loans. During assessment year 2013-14, the Assessing Officer, vide notice dated 19/02/2018, placed at pages

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

iv) The shares of the company listed with Delhi Stock Exchange, v) The shares of Focus Industrial Resources Ltd. Were sold through share broker MKM Finsec Pvt, Ltd., 301 Dhaka Chamber 2058/39 Naiwal, Karol Bagh, New Delhi-11005. vi) The details of sale are on record. The details of number of shares and their sale rate are on record

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

1. Mridula Agarwal, ITSSA No. 410 & 412/Lkw/2019 dated 05.04.2022 2. Meenakshi Agarwal & Others, ITA 234-235/Lkw/2020 dated 11/08/2021 3. Sabreen, ITA 298/Lkw/2019 dated 20/07/2021 4. Uma Shanker Dhandhania, ITA 475 & 681/ Lkw/2019 dated 16/02/2021 5. Sarita Gupta, ITA 503/Lkw/2019 dated 18/01/2021 6. Achal Gupta & Others, ITA 501, 502, 505/Lkw/2019 dated 16/12/2020 4.9 We further find that Hon'ble Gujarat

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

1. Mridula Agarwal, ITSSA No. 410 & 412/Lkw/2019 dated 05.04.2022 2. Meenakshi Agarwal & Others, ITA 234-235/Lkw/2020 dated 11/08/2021 3. Sabreen, ITA 298/Lkw/2019 dated 20/07/2021 4. Uma Shanker Dhandhania, ITA 475 & 681/ Lkw/2019 dated 16/02/2021 5. Sarita Gupta, ITA 503/Lkw/2019 dated 18/01/2021 6. Achal Gupta & Others, ITA 501, 502, 505/Lkw/2019 dated 16/12/2020 4.9 We further find that Hon'ble Gujarat

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

1. Mridula Agarwal, ITSSA No. 410 & 412/Lkw/2019 dated 05.04.2022 2. Meenakshi Agarwal & Others, ITA 234-235/Lkw/2020 dated 11/08/2021 3. Sabreen, ITA 298/Lkw/2019 dated 20/07/2021 4. Uma Shanker Dhandhania, ITA 475 & 681/ Lkw/2019 dated 16/02/2021 5. Sarita Gupta, ITA 503/Lkw/2019 dated 18/01/2021 6. Achal Gupta & Others, ITA 501, 502, 505/Lkw/2019 dated 16/12/2020 4.9 We further find that Hon'ble Gujarat

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

1. Mridula Agarwal, ITSSA No. 410 & 412/Lkw/2019 dated 05.04.2022 2. Meenakshi Agarwal & Others, ITA 234-235/Lkw/2020 dated 11/08/2021 3. Sabreen, ITA 298/Lkw/2019 dated 20/07/2021 4. Uma Shanker Dhandhania, ITA 475 & 681/ Lkw/2019 dated 16/02/2021 5. Sarita Gupta, ITA 503/Lkw/2019 dated 18/01/2021 6. Achal Gupta & Others, ITA 501, 502, 505/Lkw/2019 dated 16/12/2020 4.9 We further find that Hon'ble Gujarat

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

1. Mridula Agarwal, ITSSA No. 410 & 412/Lkw/2019 dated 05.04.2022 2. Meenakshi Agarwal & Others, ITA 234-235/Lkw/2020 dated 11/08/2021 3. Sabreen, ITA 298/Lkw/2019 dated 20/07/2021 4. Uma Shanker Dhandhania, ITA 475 & 681/ Lkw/2019 dated 16/02/2021 5. Sarita Gupta, ITA 503/Lkw/2019 dated 18/01/2021 6. Achal Gupta & Others, ITA 501, 502, 505/Lkw/2019 dated 16/12/2020 4.9 We further find that Hon'ble Gujarat

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1, RANGE-1, LUCKNOW., LUCKNOW. vs. M/S. MG AUTOSALES PRIVATE LIMITED, LUCKNOW.

The appeal is partly allowed for statistical purposes

Bench: Shri Kul Bharat & Shri Anadee Nath Misshradcit, Circle-1 M/S. Mg Autosales Pvt Ltd V. Pratyaksh Kar Bhawan, 57, 3/44 Ambalika, Gokhale Ramtirath Marg, Lucknow- Vihar Marg, Lucknow- 226001. 226001. Pan:Aamcs0717R (Appellant) (Respondent) Appellant By: Shri Ashok Seth, C.A. Respondent By: Shri Sunil Kumar Rajwanshi, Addl. Cit(Dr) Date Of Hearing: 11 12 2024 O R D E R

iv) The assesse has also submitted that Bogus sales are not possible in sale of Honda Car as TCS @1% is deducted with sale consideration in excess of Rs. 10 Lakh per car. The assesse has also but up that the purchasers do insurance through App like Policy Bazar and it is not mandatory for purchasers to share the insurance

KASHI NATH SETH SARRAF PRIVATE LIMITED,HARDOI vs. ACIT, SITAPUR, SITAPUR

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

35,500/-on account of cash deposit from\nsales made in a single day on 08.11.2016. The relevant finding of\nthe Tribunal are as under:-\"7. We have heard both the parties and perused the material\nplaced on record. In the instant case, the assessee has admitted\nthe receipts as sales and offered for taxations. The assessing\nofficer made