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

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

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

DCIT, RANGE-3, LUCKNOW vs. M/S. PRAYAGRAJ POWER GENERATION COMPANY LTD.,, NOIDA

In the result, ground no. 1 of appeal is dismissed and ground no

Bench: Shri Kul Bharat & Shri Anadee Nath Misshra

gain on transfer of units referred to in clause (xvii) of section 47, if any, credited to the statement of profit and loss; or (iif) the amount of loss on transfer of units referred to in clause (xvii) of section 47 computed by taking into account the cost of the shares exchanged with units referred to in the said clause

VIJAY PAL SINGH,HARDOI vs. ASSESSMENT UNIT, NFAC

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

Bench: Shri Kul Bharat & Shri Anadee Nath Misshra

Gain’ (‘LTCG') on immovable property sold by the assessee. The Assessing Officer noted that circle value of the property was Rs.2,52,34,000/- whereas the sale consideration disclosed in the sale deed was Rs.65,00,00,000/-. During the assessment proceedings, the assessee disputed the valuation of the property at Rs.2,44,34,000/- as per circle rate

ABHAY BENARA,KANPUR vs. DY. COMMISSIONER OF INCOME TAX, KANPUR

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

Bench: Shri Kul Bharat & Shri Anadee Nath Misshraassessment Year: 2013-14 Abhay Benara, The Deputy V. Commissioner Of Income C/O 24/4, The Mall Kanpur-208001. Tax, Central Circle-1 Kanpur. Pan:Adlpb2007Q (Appellant) (Respondent) Appellant By: Shri Ashish Jaiswal, Adv. Respondent By: Shri Sunil Kumar Rajwanshi, Addl Cit(Dr) Date Of Hearing: 10 12 2024 Date Of Pronouncement: 13 12 2024 O R D E R

Capital Gain (LTCG) of Rs.1,06,05,092/- and income from other sources of Rs.8,35,384/-, disallowance of interest of Rs.12,79,271/- and the addition of Rs.32,65,300/- u/s 68. The AO also made an addition of Rs.15,643/- being the income of minor. Aggrieved by this, the assessee preferred an appeal before

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

Capital Gain detail 16.03.2024 65 General 20-03-2024 Portal blocked for reply Draft Order Sent to Range Head for approval (as per paper book of Revenue of AY 2016-17) 21-03-2024 Approval Granted for Order (as per paper book of Revenue u/s 147/143(3) of AY 2016-17) 26-03-2024 Assessment Order u/s 147/144 Note

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

Capital Gain detail 16.03.2024 65 General 20-03-2024 Portal blocked for reply Draft Order Sent to Range Head for approval (as per paper book of Revenue of AY 2016-17) 21-03-2024 Approval Granted for Order (as per paper book of Revenue u/s 147/143(3) of AY 2016-17) 26-03-2024 Assessment Order u/s 147/144 Note

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

Capital Gain detail 16.03.2024 65 General 20-03-2024 Portal blocked for reply Draft Order Sent to Range Head for approval (as per paper book of Revenue of AY 2016-17) 21-03-2024 Approval Granted for Order (as per paper book of Revenue u/s 147/143(3) of AY 2016-17) 26-03-2024 Assessment Order u/s 147/144 Note

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

gains of an industrial undertaking.: Provided that the total period of deduction does not exceed eight consecutive assessment years (or where the assessee is a cooperative society, twelve consecutive assessment years): Provided further that the industrial undertaking begins to manufacture or produce articles or things or the operate its cold storage plant or plants at any time during the period

ASTT. COMMISSIONER OF INCOME TAX, LUCKNOW vs. M/S PRAG INDUSTRIES (INDIA) PVT. LTD., LUCKNOW

In the result, appeal of Revenue and Cross Objection of assessee, both are dismissed

Bench: Shri Kul Bharat, Videshri Anadee Nath Misshra

capital gain, suffers from I.T.A. No.660/Lkw/2016 C.O.No.01/Lkw/2017 16 non-consideration of factual matrix of the case as had been duly mentioned in paras 33, 34 and 35 of the Statement of Fact (accompanying the Memo of 1st appeal) as have been extracted in Enclosure - I(b) hereto and the same is not sustainable, and law applicable thereto. 6. BECAUSE

INCOME TAX OFFICER-3(5), LAKHIMPUR-KHERI vs. M/S SEHKARI GANNA VIKAS SAMITI LTD, LAKHIMPUR-KHERI

The appeals is allowed for statistical purposes

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

115 of the paper book. Learned counsel for the assessee, reading from the findings of such order, submitted that Hon'ble High Court has clearly held that the expression ‘attributable to’ is much wider than the expression ‘derived from’ and it covers receipt from sources other than the actual conduct of the business of the assessee and held that where

INCOME TAX OFFICER-3(5), LAKHIMPUR-KHERI vs. M/S SEHKARI GANNA VIKAS SAMITI LTD, LAKHIMPUR-KHERI

The appeals is allowed for statistical purposes

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

115 of the paper book. Learned counsel for the assessee, reading from the findings of such order, submitted that Hon'ble High Court has clearly held that the expression ‘attributable to’ is much wider than the expression ‘derived from’ and it covers receipt from sources other than the actual conduct of the business of the assessee and held that where

INCOME TAX OFFICER, LAKHIMPUR-KHERI vs. M/S SAHKARI GANNA VIKAS SAMITI LTD., LAKHIMPUR-KHERI

The appeals is allowed for statistical purposes

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

115 of the paper book. Learned counsel for the assessee, reading from the findings of such order, submitted that Hon'ble High Court has clearly held that the expression ‘attributable to’ is much wider than the expression ‘derived from’ and it covers receipt from sources other than the actual conduct of the business of the assessee and held that where

INCOME TAX OFFICER-3(4), LAKHIMPUR-KHERI vs. M/S KHERI PHILIBHIT SAHKARI GANNA VIKAS SAMITI LTD., LAKHIMPUR-KHERI

The appeals is allowed for statistical purposes

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

115 of the paper book. Learned counsel for the assessee, reading from the findings of such order, submitted that Hon'ble High Court has clearly held that the expression ‘attributable to’ is much wider than the expression ‘derived from’ and it covers receipt from sources other than the actual conduct of the business of the assessee and held that where

INCOME TAX OFFICER-3(4), LAKHIMPUR-KHERI vs. M/S CO-OPERATIVE CANE DEVELOPMENT UNION LTD., LAKHIMPUR-KHERI

The appeals is allowed for statistical purposes

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

115 of the paper book. Learned counsel for the assessee, reading from the findings of such order, submitted that Hon'ble High Court has clearly held that the expression ‘attributable to’ is much wider than the expression ‘derived from’ and it covers receipt from sources other than the actual conduct of the business of the assessee and held that where

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

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

115,758,167 117,322,362 - 1,564,195 5 KACHWA 34,624,288 34,740,997 -116,709 Total 451,476,014 452,146,001 -669,987 Therefore resulting to above profit of eligible units will be reduced by Rs.6,69,987/- in aggregate for computing deduction u/s 801A The assessee was also asked to file a computation

ASTT. COMMISSIONER OF INCOME TAX (EXEMPTION), LUCKNOW vs. M/S U.P AWAS EVAM VIKAS PARISHAD, LUCKNOW

In the result, all the grounds taken in the appeals and ground 1 of additional grounds of the Revenue stand dismissed and additional ground

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

section 12AA of the Act, which would be very much indifference to the intention of the legislature. In fact, the assessee authority is working on commercial pattern like a big Page 47 of 242 (UP AWAS EVAM VIKAS PARISHAD) businessman. Even otherwise, if some plots are reserved for economically weaker sections of the society, firstly, there is no parameter that