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

Capital Gain. 4. We have heard the rival parties and have gone through the material placed on record. We find that there is no dispute about the documentary evidence which the assessee had filed before the Assessing Officer for claiming exemption u/s 10(38) of the Act. In support of the claim for purchase of shares from Anant Fin Consultancy

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

capital gains, when the share were purchased in November, 2003 and sold in February, 2005 as per contract notes of purchase and sales of shares?" "Whether the Tribunal was justified in holding that purchase of 1,000 shares by assessee was unexplained, ignoring the fact that purchase of such shares was not doubted by the A.O. ?" However, in view

SHRI UMA SHANKER DHANDHANIA,KANPUR vs. INCOME TAX OFFICER - 1(5), KANPUR

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

capital gain on the scrip M/s Gold Line International Finvest Ltd. In I.T.A. No. 130 and 131 similar claim was made on scrip of M/s Eastern Bio Organic Food Processing Ltd. and on scrip of Rander Corporation Ltd. The authorities below had not allowed claim of the assessee on the basis of same investigation report on the basis of which

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

capital gain but which has been deleted by the Kolkata Bench of the Tribunal vide order dated 07/05/2021 in I.T.A. No.45/Kol/2019. It was submitted that I.T.A.T., Kolkata Bench has deleted such additions even though Shri Anil Kumar Khemka had admitted of having provided such entries to her but in the cases of assessees, even such admission is missing and therefore

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

capital gain but which has been deleted by the Kolkata Bench of the Tribunal vide order dated 07/05/2021 in I.T.A. No.45/Kol/2019. It was submitted that I.T.A.T., Kolkata Bench has deleted such additions even though Shri Anil Kumar Khemka had admitted of having provided such entries to her but in the cases of assessees, even such admission is missing and therefore

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

capital gain but which has been deleted by the Kolkata Bench of the Tribunal vide order dated 07/05/2021 in I.T.A. No.45/Kol/2019. It was submitted that I.T.A.T., Kolkata Bench has deleted such additions even though Shri Anil Kumar Khemka had admitted of having provided such entries to her but in the cases of assessees, even such admission is missing and therefore

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

capital gain but which has been deleted by the Kolkata Bench of the Tribunal vide order dated 07/05/2021 in I.T.A. No.45/Kol/2019. It was submitted that I.T.A.T., Kolkata Bench has deleted such additions even though Shri Anil Kumar Khemka had admitted of having provided such entries to her but in the cases of assessees, even such admission is missing and therefore

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

capital gain but which has been deleted by the Kolkata Bench of the Tribunal vide order dated 07/05/2021 in I.T.A. No.45/Kol/2019. It was submitted that I.T.A.T., Kolkata Bench has deleted such additions even though Shri Anil Kumar Khemka had admitted of having provided such entries to her but in the cases of assessees, even such admission is missing and therefore

SMT. SITA KHANDELWAL,BAREILLY vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2, BAREILLY

In the result, the appeal of the assessee stands dismissed

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

capital gain was disclosed at Rs.87,58,620/- against which deduction u/s 54 of the I. T. Act has been

SHRI ACHAL GUPTA,KANPUR vs. INCOME TAX OFFICER- 3(1), KANPUR

In the result, all the appeals are partly allowed and all the Stay

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

capital gain the assessee filed before Assessing Officer the following documents (which is part of the paper book): S.No. Nature of documents Paper Book Page No 1. Copy of Bank Account of Federal Bank. 15-16 2. Copy of Bill Suktara Trade Link Filed 17 3. Copy of Contract note issued by Broker Edlwise Financial Adnsons

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

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

Bench: Shri A. D. Jain & Shri T. S. Kapoorassessment Year:2015-16

capital gain the assessee filed before Assessing Officer the following documents (which is part of the paper book): S.No. Nature of documents Paper Book Page No 1. Copy of Bank Account of Federal Bank. 15-16 2. Copy of Bill Suktara Trade Link Filed 17 3. Copy of Contract note issued by Broker Edlwise Financial Adnsons

INCOME TAX OFFICER-3(1), KANPUR vs. SHRI ARVIND KUMAR GUPTA, KANPUR

In the result, the appeal is held to be allowed for statistical purposes

Bench: SH.KUL BHARAT, VICE PRESIDENT AND SH. NIKHIL CHOUDHARY (Accountant Member)

deduction under section 10(38) for long term capital gain to the tune of Rs.59,21,368/- arising out of transfer

PREM MANOHAR GUPTA,KANPUR vs. DY. COMMISSIONER OF INCOME TAX-2, KANPUR

In the result, appeal in I

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

Capital Gain. The only dispute was that whether against such gains, the assessee could claim deduction under section 54F of the Act on account

PREM MANOHAR GUPTA,KANPUR vs. DY. COMMISSIONER OF INCOME TAX-2, KANPUR

In the result, appeal in I

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

Capital Gain. The only dispute was that whether against such gains, the assessee could claim deduction under section 54F of the Act on account

PANKAJ AGARWAL,KANPUR vs. THE AO SPECIAL RANGE,, KANPUR

In the result, the appeal of the assessee is allowed

Bench: Sh. Sudhanshu Srivastava & Sh. Nikhil Choudharya.Y. 2017-18 Pankaj Agarwal, 7/151, Ratan Vs. The Assessing Officer, Majestic, Opp. Sony World, Special Range, Kanpur- Swaroop Nagar, Kanpur-208002 208001 Pan: Abnpa4816E (Appellant) (Respondent) Assessee By: Sh. Rakesh Garg, Adv Revenue By: Sh. R.R.N. Shukla, Addl Cit Dr Date Of Hearing: 23.12.2025 Date Of Pronouncement: 27.02.2026 O R D E R Per Nikhil Choudhary, A.M.: This Is An Appeal Filed By The Assessee Against The Order Passed By The Ld. Cit(A), Nfac Dated 9.01.2024 Wherein The Ld. Cit(A) Has Dismissed The Appeal Of The Assessee Against The Orders Of The Ld. Ao, Special Range, Kanpur, Passed Under Section 143(3) On 26.09.2019. 2. It Is Seen From The Record That The Appeal Is Delayed By 2 Days. However, Since The Date Of Filing Is Preceded By Saturday & Sunday, Wherein The Offices Of The Itat Were Closed, The Delay Is Condoned & The Appeal Is Admitted For Hearing. The Grounds Of Appeal Are As Under: - “1. Because The Cit(A) Has Erred On Facts & In Law In Treating The Loss Of Rs.42,17,895/- Being Loss On Account Of Trading In Derivatives As A Capital Loss As Against Business Loss Claimed By The Assessee, Which Finding Of The Ao Being Contrary To Facts, Bad In Law, The Addition Made Be Deleted.

gains and also income from trading in derivatives. He filed a return of income on 17.10.2017 showing total income of Rs. 3,74,49,060/-. The assessee had debited an amount of Rs. 42,17,895/- from the P&L 2 A.Y. 2017-18 Pankaj Agarwal account under the head, “derivative loss”. The ld. AO treated the same as capital

SHRI CHETAN SHARMA,KANPUR vs. PRINCIPAL COMMISSIONER OF INCOME TAX (CENTRAL), KANPUR

In the result, both appeals are allowed

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

Capital Gain as detailed earlier; and the Assessing Officer has also categorically confirmed this is in the aforesaid office note referred to paragraph no. 6.2 of the impugned order. Therefore, it is held that the order of the Ld. PCIT holding the assessment order dated 30.12.2016 to be erroneous and prejudicial to interests of Revenue, is not supported by credible

ISHWAR DWELLINGS PVT. LTD,KANPUR vs. PRINCIPAL COMMISSIONER OF INCOME TAX -1, KANPUR

In the result, the appeal of the assessee stands allowed

Bench: Shri A. D. Jain & Shri T. S. Kapoorassessment Year:2015-16

capital asset. While computing the Book Profit u/s. 115JB, the gain of Rs.4,57,71,000/- cannot be reduced from Net Profit because the amount credited in I.T.A. No.44/Lkw/2021 Assessment Year:2015-16 16 P&L is not exempt in section 10 as the gain is not an agricultural income which is restricted to the nature of income mentioned

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1, BAREILLY vs. MS SHREE BHAWANI MILLS, SHAHJAHANPUR

In the result, the appeal of the Department is partly allowed while the Cross

Bench: Sh. Sudhanshu Srivastava & Sh. Nikhil Choudharya.Y. 2017-18 Deputy Commissioner Of Income Vs. M/S Shree Bhawani Mills, Tax, Circle-1, Bareilly Gandhi Ganj, Shahjahanpur, U.P. Pan:Aadfs8573M (Appellant) (Respondent) & C.O. No.15/Lkw/2023 A.Y. 2017-18 M/S Shree Bhawani Mills, Gandhi Vs. Deputy Commissioner Of Ganj, Shahjahanpur, U.P. Income Tax, Circle-1, Bareilly Pan:Aadfs8573M (Appellant) (Respondent) Assessee By: Sh. P.K. Kapoor, C.A. Revenue By: Sh. Manu Chaurasia, Cit Dr Date Of Hearing: 12.03.2025 Date Of Pronouncement: 25.04.2025 O R D E R Per Nikhil Choudhary, A.M.: This Is An Appeal Filed By The Revenue Against The Order Of The Ld. Cit(A) Passed Under Section 250 Of The Income Tax Act On 7.09.2023 Allowing The Appeal Of The Assessee Against The Order Passed By The Ld. Ao On 30.03.2022 Under Section 147 R.W.S. 144 Of The Income Tax Act, 1961. The Grounds Of Appeal Are As Under:-

deducting any cost / index cost out of the auction sale proceeds and in assuming the entire proceeds as capital gains