ACIT(E), LUCKNOW vs. M/S. BHAGWANT INSTITUTE OF TECHNOLOGY, BIJNOR

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

section under which the addition is being made. They cannot\nbe held to be bogus and added as an income of the appellant in absence of\nany evidence being brought on record by AO. In view of the same the\naddition made by AO is deleted.\nThis ground is allowed.”\n18. The aforesaid finding

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

bogus purchases as genuine ones after\nadmitting additional evidences in violation of Rule 46A.”\nC.O.No.01/Lkw/2025\n1.\nBecause the learned CIT(A) has erred on facts & law not\ndeleting the issue relating to issuance of notice u/s 148 by\nAssessing Officer not accordance with law and facts.\n2.\nBecause the learned CIT(A) has erred in sustaining the addition

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

In the result, appeals vide I

bogus purchases as genuine ones after admitting additional evidences in violation of Rule 46A.”\n\nC.O.No.01/Lkw/2025\n\n1.\nBecause the learned CIT(A) has erred on facts & law not deleting the issue relating to issuance of notice u/s 148 by Assessing Officer not accordance with law and facts.\n\n2.\nBecause the learned CIT(A) has erred in sustaining

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

73,237/- vide order under section 143(3) of the Income Tax Act, 1961 (hereinafter referred to as the Act). Aggrieved with this assessment framed by the AO, the appeal has been preferred by the appellant. 3. During the course of appellate proceedings, Shri S.C. Agarwal, Advocate and Shri Pradeep Agarwal, Senior Accounts Officer appeared before me and filed written

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

section 10(38) of the IT Act, 1961. 7. That the alleged bogus share transaction cannot be taxed u/s 69A as the appellant has given the documentary evidence of sale and purchase at prevailing market rate on stock exchange. 8. That there has been no evidence as to the why the gain from the sale of securities be treated

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

section 10(38) of the IT Act, 1961. 7. That the alleged bogus share transaction cannot be taxed u/s 69A as the appellant has given the documentary evidence of sale and purchase at prevailing market rate on stock exchange. 8. That there has been no evidence as to the why the gain from the sale of securities be treated

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

section 10(38) of the IT Act, 1961. 7. That the alleged bogus share transaction cannot be taxed u/s 69A as the appellant has given the documentary evidence of sale and purchase at prevailing market rate on stock exchange. 8. That there has been no evidence as to the why the gain from the sale of securities be treated

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

section 10(38) of the IT Act, 1961. 7. That the alleged bogus share transaction cannot be taxed u/s 69A as the appellant has given the documentary evidence of sale and purchase at prevailing market rate on stock exchange. 8. That there has been no evidence as to the why the gain from the sale of securities be treated

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

section 10(38) of the IT Act, 1961. 7. That the alleged bogus share transaction cannot be taxed u/s 69A as the appellant has given the documentary evidence of sale and purchase at prevailing market rate on stock exchange. 8. That there has been no evidence as to the why the gain from the sale of securities be treated

SH. SUKHVINDER SINGH,KANPUR vs. PR CIT, CENTRAL, KANPUR

In the result, both appeals filed by the assessee are allowed for statistical purposes

Bench: Shri Kul Bharat & Shri Anadee Nath Misshra

73,690/-. Along with the assessment order, the Assessing ITA Nos.190 & 191/LKW/2020 Page 4 of 30 Officer also recorded a detailed office note, which is reproduced below for the ease of reference: - “1. The seized material as well as appraisal report has duly been considered/examined while passing this assessment order. 2. During the course of search and seizure proceedings, cash

JOINT COMMISSIONER OF INCOME-TAX, SPECIAL RANGE, KANPUR vs. M/S.ASFAND AKHTAR, KANPUR

In the result, all the appeals of the Revenue are dismissed and the Cross Objections of the assessee are also dismissed being infructuous

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

bogus companies and therefore, she argued that Assessing Officer had made the additions on the basis of statement of assessee along with findings of Inspector Tax Inspector. 3.1 Learned CIT, D.R. further submitted that the second issue arising in two appeals out of the four appeals is the action of learned CIT(A) by which he has allowed relief

JOINT COMMISSIONER OF INCOME-TAX, SPECIAL RANGE, KANPUR vs. M/S.ASFAND AKHTAR, KANPUR

In the result, all the appeals of the Revenue are dismissed and the Cross Objections of the assessee are also dismissed being infructuous

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

bogus companies and therefore, she argued that Assessing Officer had made the additions on the basis of statement of assessee along with findings of Inspector Tax Inspector. 3.1 Learned CIT, D.R. further submitted that the second issue arising in two appeals out of the four appeals is the action of learned CIT(A) by which he has allowed relief

JOINT COMMISSIONER OF INCOME-TAX, SPECIAL RANGE, KANPUR vs. M/S.ASFAND AKHTAR, KANPUR

In the result, all the appeals of the Revenue are dismissed and the Cross Objections of the assessee are also dismissed being infructuous

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

bogus companies and therefore, she argued that Assessing Officer had made the additions on the basis of statement of assessee along with findings of Inspector Tax Inspector. 3.1 Learned CIT, D.R. further submitted that the second issue arising in two appeals out of the four appeals is the action of learned CIT(A) by which he has allowed relief

JOINT COMMISSIONER OF INCOME-TAX, SPECIAL RANGE, KANPUR vs. M/S.ASFAND AKHTAR, KANPUR

In the result, all the appeals of the Revenue are dismissed and the Cross Objections of the assessee are also dismissed being infructuous

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

bogus companies and therefore, she argued that Assessing Officer had made the additions on the basis of statement of assessee along with findings of Inspector Tax Inspector. 3.1 Learned CIT, D.R. further submitted that the second issue arising in two appeals out of the four appeals is the action of learned CIT(A) by which he has allowed relief

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)

bogus LTCG. The AO required the assessee to establish the genuineness of the LTCG. The response of the assessee was that the payments made for the purchase of the scrip were through proper and authenticated banking channels and that the said shares had been sold on recognized stock exchange and that further the Long-Term Capital Gains earned were completely

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)

bogus LTCG. The AO required the assessee to establish the genuineness of the LTCG. The response of the assessee was that the payments made for the purchase of the scrip were through proper and authenticated banking channels and that the said shares had been sold on recognized stock exchange and that further the Long-Term Capital Gains earned were completely

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)

bogus LTCG. The AO required the assessee to establish the genuineness of the LTCG. The response of the assessee was that the payments made for the purchase of the scrip were through proper and authenticated banking channels and that the said shares had been sold on recognized stock exchange and that further the Long-Term Capital Gains earned were completely

GURDAS MAL ARORA,KANPUR vs. THE A O CIRCLE-1(2)(1), KANPUR

In the result, the appeal of the assessee is dismissed for statistical purposes

Bench: Shri Kul Bharat & Shri Anadee Nath Misshragurdas Mal Arora V. The Assessing Officer, 21/L/4, Daboli, Circle-1(2)(1) Kanpur. 16/69, Aayakar Bhawan, Civil Lines, Kanpur- 208001. Pan:Afepm4342J (Appellant) (Respondent) Appellant By: Shri Ashish Jaiswal, Advocate Respondent By: Shri Amit Kumar, Cit-Dr O R D E R

73 of the paper book. 6. The appellant further humbly submits that the allegation of the A.O. that there is a abnormal high sales in huge volume mainly in the month of October, 2016 whereas the Ld. A.O. has failed to appreciate that there is high sale in October because of Diwali festival and because of appellants determination to close