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)

search and seizure operations, various materials/documents were found and seized/impounded and statements were also recorded. Subsequently, the case of assessee was centralized and notice under section 153A of the Act was issued on 29.10.2021. In response to the said notice, the assessee filed his return of income on 14.12.2021 declaring total income of Rs. 16,86,100/- i.e. the income

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)

search and seizure operations, various materials/documents were found and seized/impounded and statements were also recorded. Subsequently, the case of assessee was centralized and notice under section 153A of the Act was issued on 29.10.2021. In response to the said notice, the assessee filed his return of income on 14.12.2021 declaring total income of Rs. 16,86,100/- i.e. the income

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 gains on the shares sold. Also, on perusal of the order passed by Pr. CIT u/s 263 of the I.Tax Act, 1961, and plain reading of the of Para 2 at Page 1 of the order it is evident that the whole proceedings were initiated on the behest of the Assessing Officer. “It has been bought to the notice

SUBHASH JAISWAL ASSOCIATES,BAREILLY vs. PCIT BAREILLY, BAREILLY

search and seizure action.\nNo incriminating documents were seized or found during the course of\nsearch. The assessee filed a block return showing nil income. The regular\nreturns were filed up to the assessment year 19998-99 at Mumbai. After\nverification, the Assessing Officer came to the conclusion that undisclosed\nincome of the assessee was nil. For the purpose

KAMAL KANT 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

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, and the LTCG earned

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

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, and the LTCG earned

M/S STANDARD FROZEN FOODS EXPORTS PVT LTD,HAPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CC-II, KANPUR

In the result, all the appeals are allowed

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

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, and the LTCG earned

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

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

search and seizure proceedings, cash to the tune of Rs.11,40,690/- was found out of which Rs 10,00,000/- was seized and jewellery items (Gold+ Silver) amounting to Rs 1,20,34,130/- was also found out of which gold jewellery amounting to Rs.79,88,740/- and silver jewellery amounting to Rs 17,56,300/- totalling to Rs.97

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

search and seizure proceedings, cash to the tune of Rs. 11,40,690/- was found out of which Rs 10,00,000/- was seized and jewellery items (Gold+ Silver) amounting to Rs 1,20,34,130/- was also found out of which gold jewellery amounting to Rs. 79,88,740/- and silver jewellery amounting to Rs 17,56,300/- totalling

ACIT, CENTRAL CIRCLE-II, LUCKNOW, LUCKNOW vs. RAKESH KUMAR PANDEY, GONDA U.P.

In the result, the outcome of the appeals and Cross Objections are as under:

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

seizure actions/requisitions u/s to Central Charges u/s 127 of the Act within 15 days of 132/132A conducted on or after service of notice u/s 143(2)/142(1) of the Act by the 01.04.2021. Assessing Officer concerned. After the above changes it transpires search cases for compulsory scrutiny where search conducted on or after 01.04.2021 in case of other person

RAKESH KUMAR PANDEY,GONDA vs. DCIT/ACIT (CENTRAL)-2, LUCKNOW

In the result, the outcome of the appeals and Cross Objections are as under:

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

seizure actions/requisitions u/s to Central Charges u/s 127 of the Act within 15 days of 132/132A conducted on or after service of notice u/s 143(2)/142(1) of the Act by the 01.04.2021. Assessing Officer concerned. After the above changes it transpires search cases for compulsory scrutiny where search conducted on or after 01.04.2021 in case of other person

RAKESH KUMAR PANDEY,GONDA vs. DCIT/ACIT (CENTRAL)-2, LUCKNOW

In the result, the outcome of the appeals and Cross Objections are as under:

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

seizure actions/requisitions u/s to Central Charges u/s 127 of the Act within 15 days of 132/132A conducted on or after service of notice u/s 143(2)/142(1) of the Act by the 01.04.2021. Assessing Officer concerned. After the above changes it transpires search cases for compulsory scrutiny where search conducted on or after 01.04.2021 in case of other person

SHRI SUBODH AGARWAL,KANPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1, KANPUR

In the result, both the appeals of the assessee are allowed

Bench: Shri. Sudhanshu Srivastava & Shri Nikhil Choudhary

search and seizure operation under section 132 of the Income Tax Act, 1961 (hereinafter called ‘the Act’) was conducted at the premises of the assessee and notice under section 153A of the Act was issued to ITA No.667 & 669/LKW/2018 Page 2 of 12 the assessee on 1.6.2016. In response, the assessee filed his return of income showing income of Rs.12

SHRI SUBODH AGARWAL,KANPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1, KANPUR

In the result, both the appeals of the assessee are allowed

Bench: Shri. Sudhanshu Srivastava & Shri Nikhil Choudhary

search and seizure operation under section 132 of the Income Tax Act, 1961 (hereinafter called ‘the Act’) was conducted at the premises of the assessee and notice under section 153A of the Act was issued to ITA No.667 & 669/LKW/2018 Page 2 of 12 the assessee on 1.6.2016. In response, the assessee filed his return of income showing income of Rs.12

ARUN KUMAR MAURYA,LUCKNOW vs. ITO-2(1), LUCKNOW

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

Bench: Shri Kul Bharat & Shri Anadee Nath Misshra

capital gains would not be assessable at the hands of the firm, yet for the reasons stated in the preceding paragraph that in the absence of notice under Section 143(2) reassessment could not be held to be validly made . Thus, we have no hesitation in setting aside the order of the Tribunal.” (E.1.5) In the case of Pr. Commissioner

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

Capital gains’ instead of ‘Profits and gains’ of business or profession. In CIT vs. TirathramAhuja (HUF) (2008) 6 DTR (Del) 335 has held that there was no failure on the part of assessee to disclose a material fact where rateable value of the property was enhanced by the Municipal Corporation after assessment for assessment year

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

Capital gains’ instead of ‘Profits and gains’ of business or profession. In CIT vs. TirathramAhuja (HUF) (2008) 6 DTR (Del) 335 has held that there was no failure on the part of assessee to disclose a material fact where rateable value of the property was enhanced by the Municipal Corporation after assessment for assessment year

M/S MODEL EXIM,KANPUR vs. THE PRINCIPAL COMMISSIONER OF INCOME TAX (CENTRAL), KANPUR

In the result, the appeal of the assessee is allowed

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguriam/S. Model Exim Pcit (Central) V. 624-C, Defence Colony, 7/81-B, Tilak Nagar, Jajmau, Kanpur-208010. Kanpur. Pan:Aadfm6163H (Appellant) (Respondent) Appellant By: Shri Swaran Singh, C.A. Respondent By: Smt Namita S. Pandey, Cit(Dr) Date Of Hearing: 29 10 2024 Date Of Pronouncement: 05 11 2024 O R D E R

seizure of cash of Rs.2 crore from Mehtab Alam & his wife Smt. Farah Lari at Amousi Airport, Lucknow and the assessment was completed u/s 153C of the Act vide order dated 31.03.2013. During the assessment proceedings, the income of the assessee is computed as under: - Income returned 52,19,290/- Add back: Disallowances as discussed above 1,55,287/- Deduction

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

capital which has been introduced into the tilt of the assessee by investors as claimed by the assessee. We would like to look at the concept of burden of proof. Though the Income-tax Officer is not fettered by the technical rules of evidence as known to the civil and criminal law, any issue has to be determined