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

C) No. 7799 of 2023 dated 04.05.2023 • On the basis of tabular chart ( at page 1-2 of PB Vol-1) Income Tax Appeal and the appellant wise categorisation of appellant with legal issue and its judicial precedence has been made as following: Sl. No 1 to 10 : In these cases no incriminating material was found during search

SHRI KINGSHUK GHOSHAL,LUCKNOW vs. INCOME TAX OFFICER-6(5), LUCKNOW

The appeal of the assessee stands allowed

Bench: Shri. Sudhanshu Srivastavaassessment Year: 2012-13 Shri Kinghshuk Ghoshal V. The Ito 6(5) E-402, Halwasiya Utsav Enclave Lucknow Opposite Hal, Faizabad Road Lucknow Tan/Pan:Affpg3258L (Appellant) (Respondent) Appellant By: Shri P. K. Kapoor, C.A. Respondent By: Shri Sunil Kumar Rajwanshi, D.R. O R D E R This Appeal Has Been Preferred By The Assessee Against Order Dated 26.12.2017, Passed By The Learned Commissioner Of Income Tax (Appeal), Lucknow-3 (Ld. Cit(A)) For Assessment Year 2012-13. 2.0 The Brief Facts Of The Case Are That The Assessee Filed His Return Of Income For The Year Under Consideration On 29.11.2012, Declaring A Total Income Of Rs.1,05,233/-. The Case Of The Assessee Was Selected For Scrutiny Under Cass. During The Course Of Assessment Proceedings, The Assessing Officer (Ao) Noticed That The Assessee Was Earning Interest Income From Saving Bank Deposits & Fdrs & That The Assessee Had Claimed Exemption Of Rs.71,54,619/- Under Section 54 Of The Income Tax Act, 1961 (Hereinafter Called “The Act’). During The

13 same. The AO, conceding to the request made on behalf of the assessee, allowed deduction of Rs.22,221/- under section 80E of the Act. The AO completed the assessment under section 143(3) of the Act, computing the income of the assessee as under: Income as per Return : Rs.1,05,233/- Addition on a/c. of Long Term Capital Gain

M/S AYODHYA DEVELOPMENT AUTHORITY(FORMERLY AYODHYA FAIZABAD DEVELOPMENT AUTHORITY),AYODHYA vs. THE DY. COMMISSIONER OF INCOME TAX (EXEMPTION), LUCKNOW

Bench: Sh. Sudhanshu Srivastava & Sh. Nikhil Choudhary

gains from business and profession’. The net surplus disclosed by the assessee of Rs.2,24,59,203/- in the income and expenditure account was therefore added to the total income of the assessee and penalty proceedings under section 271(1)(c) were initiated. 11. Moving on further, the ld. AO observed that the assessee had transferred funds to the infrastructure

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

c. Salary/remuneration has been paid in excess of reasonably payable; d. Services of the trust has been provided without adequate consideration; e. Any property is purchased by trust from persons covered u/s 13(3) for more than adequate consideration; f. Any property is sold by trust to persons covered u/s 13(3) for consideration less than adequate; g. Funds

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

c. Salary/remuneration has been paid in excess of reasonably payable; d. Services of the trust has been provided without adequate consideration; e. Any property is purchased by trust from persons covered u/s 13(3) for more than adequate consideration; f. Any property is sold by trust to persons covered u/s 13(3) for consideration less than adequate; g. Funds

RAJDHANI NAGAR SAHKARI BANK LTD,LUCKNOW vs. DY.CIT RANGE-6, LUCKNOW

In the result, both the appeals in ITA Nos

C. I. T. (A), NFAC, erred on facts and in law in upholding the rejection of\ndeduction u/s 36(1) (viia) and 36(1) (viii) as Provision for NPA Rs.81,73,424/- has\nbeen made in the accounts as per Rules.\n4. That the addition of Rs.41,73,577/- as Employees Contribution u/s 36(1)(v)(a) also\nincludes Employer

M/S AYODHYA FAIZABAD DEVELOPEMENT AUTHORITY,FAIZABAD vs. DY. COMMISSIONER OF INCOME TAX (EXEMPTION), LUCKNOW

gains from business and profession’. \nThe net surplus disclosed by the assessee of Rs.2,24,59,203/- in the income and expenditure \naccount was therefore added to the total income of the assessee and penalty proceedings under \nsection 271(1)(c) were initiated.\n11. Moving on further, the ld. AO observed that the assessee had transferred funds to the \ninfrastructure

M/S AYODHYA FAIZABAD DEVELOPEMENT AUTHORITY,FAIZABAD vs. DY. COMMISSIONER OF INCOME TAX (EXEMPTION), LUCKNOW

gains from business and profession’. \nThe net surplus disclosed by the assessee of Rs.2,24,59,203/- in the income and expenditure \naccount was therefore added to the total income of the assessee and penalty proceedings under \nsection 271(1)(c) were initiated. \n11. Moving on further, the ld. AO observed that the assessee had transferred funds to the \ninfrastructure

M/S AYODHYA DEVELOPMENT AUTHORITY (FORMELY AYODHYA FAIZABAD DEVELOPMENT AUTHORITY),LUCKNOW vs. THE DY. COMMISSIONER OF INCOME TAX (EXEMPTION), LUCKNOW, LUCKNOW

In the result all six appeals filed by the assessee are partly allowed

gains from business and profession’. \nThe net surplus disclosed by the assessee of Rs.2,24,59,203/- in the income and expenditure \naccount was therefore added to the total income of the assessee and penalty proceedings under \nsection 271(1)(c) were initiated. \n11. Moving on further, the ld. AO observed that the assessee had transferred funds to the \ninfrastructure

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

C of\nChapter VI-A is with respect only to computation of deduction on the\nbasis of 'net income'.\n10. Sub-section (1) and sub-section (5) of Section 80-IA which are\nrelevant for these Appeals are as under:\n“80-IA. Deductions in respect of profits and gains from\nindustrial undertakings or enterprises engaged in infrastructure\ndevelopment

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

13 (C) The present appeal has been filed by Revenue against the aforesaid impugned appellate order dated 14/08/2020 of the learned CIT(A). The assessee has not filed cross appeal and has accepted the order of the learned CIT(A). In the course of appellate proceedings in Income Tax Appellate Tribunal, the following particulars were filed from the assessee

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

In the result, appeals vide I

C of\nChapter VI-A is with respect only to computation of deduction on the\nbasis of 'net income'.\n\n10. Sub-section (1) and sub-section (5) of Section 80-IA which are\nrelevant for these Appeals are as under:\n\n“80-IA. Deductions in respect of profits and gains from\nindustrial undertakings or enterprises engaged in infrastructure

M/S. APCO INFRATECH PVT. LTD.,LUCKNOW vs. ACIT-1, LUCKNOW

In the result, appeals vide

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

c) the assessee is entitled for deduction of an amount equal to 100% of the profits and gains derived from such business for 10 consecutive assessment years; and d) in computing the ‘total income’ of the Assessee, such deduction shall be allowed. 12. The import of Section 80-IA is that the ‘total income’ of an assessee is computed

M/S APCO INFRATECH PVT. LTD.,LUCKNOW vs. D/ACIT-1,CENTRAL-1, LUCKNOW

In the result, appeals vide

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

c) the assessee is entitled for deduction of an amount equal to 100% of the profits and gains derived from such business for 10 consecutive assessment years; and d) in computing the ‘total income’ of the Assessee, such deduction shall be allowed. 12. The import of Section 80-IA is that the ‘total income’ of an assessee is computed

ASSTT. COMMISSIONER OF INCOME TAX, CC-1, LUCKNOW, AAYAKAR BHAWAN, ASHOK MARG, LUCKNOW vs. APCO INFRATECH PVT. LTD., VIBHUTI KHAND GOMTI NAGAR LKO

In the result, appeals vide

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

c) the assessee is entitled for deduction of an amount equal to 100% of the profits and gains derived from such business for 10 consecutive assessment years; and d) in computing the ‘total income’ of the Assessee, such deduction shall be allowed. 12. The import of Section 80-IA is that the ‘total income’ of an assessee is computed

MAHESH MITTAL,LUCKNOW vs. ACIT, RANGE-5, LUCKNOW, LUCKNOW

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

Bench: Shri Kul Bharat & Shri Anadee Nath Misshramahesh Mittal V. Acit, Range-5 1/16, Vinay Khand Gomti Income Tax Office Ashok Nagar, Lucknow-226010. Marg, Lucknow-226001. Pan:Acqpm4459B (Appellant) (Respondent) Appellant By: Shri Akshay Agarwal, Adv Respondent By: Shri Amit Singh Chauhan, Cit(Dr) O R D E R

13 of 31 about huge tax-exempt capital gains to certain investors who give commission to these 'masterminds' through backdoors. To put on the legal cover, purchase of such stocks is done through stock- exchange and payments are made through banking channels. Due to the presence of so many middle-men (as happens in most of the organized unethical activities

SHRI SWATANTRA KUMAR SHUKLA,KANPUR vs. DEPUTY COMMISSIONER OF INCOME TAX-3, KANPUR

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

Bench: Sh. Sudhanshu Srivastava & Sh. Nikhil Choudharya.Y. 2015-16 Swatantra Kumar Shukla, Vs. Dy. Cit-3, Kanpur 61/139, Sita Ram Mohal, Kanpur- 208001 (U.P.) Pan: Acaps5484N (Appellant) (Respondent) Assessee By: Sh. P.K. Kapoor, C.A. Revenue By: Sh. R.R.N. Shukla, Addl Cit Dr Date Of Hearing: 03.09.2025 Date Of Pronouncement: 24.11.2025 O R D E R Per Nikhil Choudhary, A.M.: This Is An Appeal Filed By The Assessee Against The Orders Of The Ld. Cit(A)- 1, Kanpur, Passed On 29.07.2019 Wherein The Appeal Of The Assessee Against The Orders Passed By The Assessing Officer Under Section 143(3) Of The Act For The A.Y. 2015-16 On 29.12.2017 Has Been Dismissed. The Grounds Of Appeal Are As Under: - “1. That The Ld Cit(A) Was Wrong In Confirming The Addition Of Rs. 1,39,81,850- Made By The Ao Without Any Valid Reason. 2. That The Revenue Was Wrong In Disallowing The Claim Of Long Term Capital Gains U/S 10(38) Of The Act & The Same Is Against Facts & Law. 3. That The Various Case Law Cited By The Revenue In Rejecting The Claim Is Wrong In As Much As The Facts Of The Appellant'S Case Are Distinguishable From The Cited Case Law. 4. That The Revenue Was Wrong In Invoking Section 68 Of The Act & The Same Is Not Justified & Unwarranted. 5. That It Was Wrong On The Part Of Revenue To Invoke Section 68 Of The Act In As Much As Initial Onus On The Assessee To Establish Identity, Credit Capacity Of The Creditor & Genuineness Of The Transaction Was Discharged. 6. That The Finding Of The Ld Ao That 'Long Term Capital Gains Of Rs.1 39,81,850/ Claimed By The Assessee Is Held To Have Been Arranged By The Assessee Through

13,000 shares of Jackson Investments Ltd on 10.10.2011 @ Rs. 10/- and sold 49,000 shares during the year under scrutiny for a sale consideration of Rs. 1,49,81,417/-. As a result of this transaction, the assessee had obtained long term capital gain of Rs. 1,39,81,850/- on which he had claimed exempt income under section

SUBHASH JAISWAL ASSOCIATES,BAREILLY vs. PCIT BAREILLY, BAREILLY

c) of Explanation 1 to section 263, in as\nmuch as, an appeal against the impugned assessment order passed\nu/s 143(3) was pending before the CIT(A) at the time of initiation of\nproceedings u/s 263, the order passed by PCIT be quashed.\nThe above ground of appeal is purely a legal ground and goes to the root