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

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

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

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

GENUS POWER INFRASTRUCTURES LIMITTED,NOIDA vs. PR. COMMISSIONER OF INCOME TAX(CENTERAL), LUCKNOW

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

deduction claimed on the account of scientific\nresearch along with their document evidence.\n\n(Emphasis supplied) Large long term capital gains

SUBHASH JAISWAL ASSOCIATES,BAREILLY vs. PCIT BAREILLY, BAREILLY

capital gain against the short-term\nloss, the order passed by the Assessing Officer could not be deemed to be\nerroneous insofar as it was prejudicial to the interests of the revenue.\nSection 263 of the Income-tax Act, 1961 -Revision Of orders prejudicial to\ninterest of revenue - Assessment year 2011-12 - Where Assessing Officer\nafter examining issue on points

DY. COMMISSIONER OF INCOME TAX-VI, KANPUR vs. COMMERCIAL AUTOMOBILES PVT. LTD., KANPUR

In the result, the appeal of the Revenue is dismissed

Bench: Sh. Sudhanshu Srivastava & Sh. Nikhil Choudharya.Y. 2006-07 Asstt. Commissioner Of Vs. M/S Commercial Automobiles Pvt. Ltd., Income Tax-5, Kanpur 84/105, Kailash Motors Building, G.T. Road, Afim Kothi, Kanpur-208003 Pan: Aaccc4267E (Appellant) (Respondent) Assessee By: Sh. Rakesh Garg, Advocate Revenue By: Sh. R.K. Agarwal, Cit Dr Date Of Hearing: 04.11.2025 Date Of Pronouncement: 24.11.2025 O R D E R Per Nikhil Choudhary, A.M.: [ This Is An Appeal Filed By The Revenue Against The Orders Of The Ld. Cit (A)- 2, Kanpur Dated 25.09.2017, Wherein The Ld. Cit(A) Has Partly Allowed The Appeal Of The Assessee Against The Orders Of The Ld. Ao Passed Under Section 143(3) Of The Income Tax Act, 1961, For The A.Y. 2006-07 On 23.12.2008. The Grounds Of Appeal Are As Under:- “1. That The Cit(A) Has Erred In Law & On Facts In Deleting The Addition Of Rs. 5,32,366/- U/S 14A Without Taken Into Consideration That The Expenditure Incurred In Relation To Exempt Income. 02. That The Cit(A) Has Erred In Law & On Facts In Deleting The Addition Of Rs. 99,56,258/-Without Appreciating That The Provisions Of Sec. 50C Have Been Invoked By The Assessing Officer On The Basis Of Stamp Valuation Of The Property. The Assessee Has Not Claimed Before The Assessing Office To Make The Reference To The Valuation Officer U/S 55A Of It Act, 1961. 3 That The Cit(A) Has Erred In Law & On Facts Of The Case In Deleting The Addition Of Rs. 3,20,90,164/- On Account Of Loss Claimed On Sale Of Shares Without Appreciating That The Transaction As Claimed Were Sham & Was Incorporated Only To Evade The Capital Gain Earned On The Sale Of Properties. The Cit(A) Has Erred In Law & On The Facts Of The Case In Ignoring The Facts Noted By The Assessing Officer Regarding The Transaction Of Sale Of Shares.

deduction for unabsorbed depreciation of Rs. 3,13,97,298/- and worked out the net capital gain at Rs. 1,06,49,144/-. The ld. AO thereafter

AYYUB JAFRI,LUCKNOW vs. DY. COMMISSIONER OF INCOME TAX-6, LUCKNOW

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

Bench: SH. SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER AND SH. NIKHIL CHOUDHARY (Accountant Member)

capital gain and having fulfilled all prescribed conditions and investment made in construction of residential house amounting to Rs.12033877.00/- in the present case during March 2015 F.Y. 2015-16 as well as till 31st July 2016 which is within prescribed period of sometime before and three years from the date of sale. 3. Because on the facts

BHANU PRATAP,BAREILLY vs. ITO-1(1), BAREILLY

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

Bench: Shri Anadee Nath Misshra

deducting (indexed) cost of acquisition and/or cost of improvement. This act of the Assessing Officer is inconsistent with provisions of Income Tax Act regarding computation of capital gain

USHA YADAV,LUCKNOW vs. INCOME TAX OFFICER RANGE 6(2), LUCKNOW

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

Bench: Shri Kul Bharat & Shri Nikhil Choudhary

gains fall under clause (a) of section 10(37) of the Act. vi. Appellant never claimed exemption from income tax for transfer of agricultural land, while claiming said land being not a capital asset. Whereas, appellant claimed exemption for the very reason that land transferred is an agricultural land, which is a capital asset. Income tax on transfer of such

USHA YADAV,LUCKNOW vs. INCOME TAX OFFICER RANGE 6(2), LUCKNOW

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

Bench: Shri Kul Bharat & Shri Nikhil Choudhary

gains fall under clause (a) of section 10(37) of the Act. vi. Appellant never claimed exemption from income tax for transfer of agricultural land, while claiming said land being not a capital asset. Whereas, appellant claimed exemption for the very reason that land transferred is an agricultural land, which is a capital asset. Income tax on transfer of such

TECHNICAL ASSOCIATES LIMITED,LUCKNOW vs. DCIT, RANGE-3, LUCKNOW

In the result, the appeal of the assessee stands allowed

Bench: Shri G. D. Padamahshali & Shri Subhash Malguriaassessment Year: 2015-16 Technical Associates Limited V. Dy. Commissioner Of Income 8Th Km, Faizabad Road Tax Vijaypur, Gomti Nagar Range 6 Lucknow Lucknow Pan:Aabct7365F (Appellant) (Respondent) Appellant By: Shri Santhosh Kumar Respondent By: Shri Sanjeev Krishna Sharma, D.R. Date Of Hearing: 25 06 2024 Date Of Pronouncement: 25 06 2024 O R D E R

Deductions’ and made the addition. The ld. CIT(A), vide his impugned order passed under section 250 of the Act, sustained the addition so made by the Assessing Officer. 9. So far as computation of capital gains

NIRMAL SINGH,AYODHYA vs. ITO WARD-1,, FAIZABAD

In the result, the appeal of the assessee is allowed

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria & Sa. No. 07/Lkw/2024 (Arising Out Of Ita. No.83/Lkw/2024 (Assessment Year: 2014-15) Nirmal Singh The Income Tax Officer, V. 15/2/16, Janki Ghat, Ayodhya- Ward-1, 224123, Faizabad (Up). Cinema Road, Faizabad- New-224001. Pan:Bdsps4165C (Appellant) (Respondent) Appellant By: Shri. Rakesh Garg, Adv Respondent By: Shri. Sanjeev Krishna Sharma, Addl. Cit(Dr) Date Of Hearing: 24 09 2024 Date Of Pronouncement: 10 10 2024 O R D E R

Capital Gains. 3. However, as per the records of the department, it was noticed that the assessee has filed his ITR for the year under consideration declaring income of Rs.7,81,320/-. The Income declared by the assessee does not commensurate with the alleged transaction. These material facts were not fully and truly disclosed by assessee in the return

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

gains derived from such business for\nten consecutive assessment years.\nThe deduction is, therefore, admissible with reference to the profits and\ngains of an eligible undertaking 'derived from its eligible business. In various\njudicial pronouncements, the term 'derived from' has been interpreted in a narrow\nsense as compared to 'attributable to as used elsewhere with reference to other\ndeductions

KASHMIRI LAL,KANPUR vs. ITO WARD-2(2), KANPUR

In the result, the appeal of the assessee stands allowed for statistical purposes

Bench: Shri. Sudhanshu Srivastavaassessment Year: 2013-14 Kashmiri Lal V. The Ito 126/33, Block Q Ward 2(2) Govind Nagar Kanpur Kanpur Tan/Pan:Asarpl8577C (Appellant) (Respondent) Appellant By: None (Adjournment Application) Respondent By: Shri Sanjeev Krishna Sharma, D.R. Date Of Hearing: 23 07 2024 Date Of Pronouncement: 30 08 2024 O R D E R

capital gains. 3. Aggrieved, the assessee preferred an appeal before the ld. CIT(A). The Addl./JCIT(A)-2, Coimbatore partly allowed the appeal of the assessee, observing that “…..1/4th of the expenses (appellant’s share in the property) is allowed for the purpose of ITA No.293/LKW/2024 Page 2 of 5 deduction

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

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

gain on sale of shares of M/s. Blue Circle Services Ltd on face value, without independent inquiry. The Ld. PCIT was of the view that the assessment order passed by the Assessing Officer showed non-application of mind on the documents and materials on record. The Ld. PCIT passed order dated 17.03.2020 under section 263 of the Act whereby

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

gain on sale of shares of M/s. Blue Circle Services Ltd on face value, without independent inquiry. The Ld. PCIT was of the view that the assessment order passed by the Assessing Officer showed non-application of mind on the documents and materials on record. The Ld. PCIT passed order dated 17.03.2020 under section 263 of the Act whereby

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

In the result, appeals vide I

gains derived from such business for\nten consecutive assessment years.\n\nThe deduction is, therefore, admissible with reference to the profits and\ngains of an eligible undertaking 'derived from its eligible business. In various\njudicial pronouncements, the term 'derived from' has been interpreted in a narrow\nsense as compared to 'attributable to as used elsewhere with reference to other\ndeductions