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

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

1) of section 142 or section 148 or to disclose fully and truly all material facts necessary for his assessment, for the assessment year." 6. In the present case the purported reasons to believe that income had escaped assessment were as under:- "Reasons of the belief that income has escaped Assessment. In this case the assessment for the asstt. 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

1) of section 142 or section 148 or to disclose fully and truly all material facts necessary for his assessment, for the assessment year." 6. In the present case the purported reasons to believe that income had escaped assessment were as under:- "Reasons of the belief that income has escaped Assessment. In this case the assessment for the asstt. Year

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

section 142(1), no notice was issued assessee in not disclosing the capital gains arising on the transfer of property

VINAI SHUKLA,LUCKNOW vs. ACIT-1, LUCKNOW NEW, LUCKNOW

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

Bench: Shri Kul Bharat & Shri Nikhil Choudharyआयकर अपील सं/ Ita No.624/Lkw/2024 ननिाारण वर्ा/ Assessment Year: 2017-18 Vinai Shukla V. Acit-1, Lucknow New 2/280, Vikas Khand Gomti Lucknow Nagar, Lucknow-226010. Pratyaksh Kar Bhawan, Lucknow-226001. Pan:Asnps3558C अपीलार्थी/(Appellant) प्रत्यर्थी/(Respondent) अपीलार्थी कक और से/Appellant By: Ms Shweta Mittal, Ca प्रत्यर्थी कक और से /Respondent By: Shri Prajesh Srivastava, Sr. Dr सुनवाई कक तारीख / Date Of Hearing: 21 08 2025 घोर्णा कक तारीख/ Date Of 12 09 2025 Pronouncement: आदेश / O R D E R

Capital Gain and assessed total income at Rs.1,41,36,990/-. Aggrieved against this, the assessee carried the matter an appeal before the Ld. CIT(A), who after considering the submissions dismissed the appeal of the assessee. Now, the assessee is in appeal before this Tribunal. 3. The assessee has taken multiples grounds including the grounds that adequate opportunity

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

gains by an industry entitled to benefit\nunder Section 80-E cannot be reduced by the loss suffered by any\nother industry or industries owned by the assessee.\n15. In the case before us, there is no discussion about Section 80-\nIA(5) by the Appellate Authority, nor the Tribunal and the High Court.\nHowever, we have considered the submissions

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

In the result, appeals vide I

gains by an industry entitled to benefit\nunder Section 80-E cannot be reduced by the loss suffered by any\nother industry or industries owned by the assessee.\n\n15. In the case before us, there is no discussion about Section 80-\nIA(5) by the Appellate Authority, nor the Tribunal and the High Court.\nHowever, we have considered

SUBHASH JAISWAL ASSOCIATES,BAREILLY vs. PCIT BAREILLY, BAREILLY

section 142(1) and subsequent\nquery that the assessee had purchased 17 lakhs shares through their\nbroker as per the loan agreement and sold these shares on loss. The\ndetails in respect of these were also submitted before the Assessing\nOfficer. Thus, this was not a case of lack of inquiry on the part of the\nAssessing Officer

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

142(1) dated 14/10/2018 alongwith questionnaire was\nissued to the assessee, In response, the assessee company filed its submission\nthrough online portal for the e-assessment. The reply of the assessee was examined\nwith respect to documents submitted and information available on record. Books of\naccount were required to be produced.\"\nIt is evident from the above findings that

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

In the result, appeals vide

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

gains by an industry entitled to benefit under Section 80-E cannot be reduced by the loss suffered by any other industry or industries owned by the assessee. 15. In the case before us, there is no discussion about Section 80- IA(5) by the Appellate Authority, nor the Tribunal and the High Court. However, we have considered the submissions

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

gains by an industry entitled to benefit under Section 80-E cannot be reduced by the loss suffered by any other industry or industries owned by the assessee. 15. In the case before us, there is no discussion about Section 80- IA(5) by the Appellate Authority, nor the Tribunal and the High Court. However, we have considered the submissions

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

gains by an industry entitled to benefit under Section 80-E cannot be reduced by the loss suffered by any other industry or industries owned by the assessee. 15. In the case before us, there is no discussion about Section 80- IA(5) by the Appellate Authority, nor the Tribunal and the High Court. However, we have considered the submissions

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

1,50,337/- under Section 68 of the Act. 11)That, the Appellant craves leave to alter, amend, add or delete one or all the Grounds of appeals mentioned above.” Page 3 of 31 (B). In this case, assessment order dated 27.03.2023 was passed by the Assessing Officer u/s 143(3) of the Income Tax Act, 1961 (“Act”, for short

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

SHILPA KHANDELWAL,BAREILLY vs. DEPUTY COMMISSIONER OF INCOME TAX-2, BAREILLY

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

Bench: Shri. Sudhanshu Srivastavaassessment Year: 2015-16 Smt. Shilpa Khandelwal V. The Dy. Cit-2 330, Kalibari Bareilly Bareilly (U.P) Tan/Pan:Arypk5700A (Appellant) (Respondent) Appellant By: Shri P. K. Kapoor, C.A. Respondent By: Shri Sanjeev Krishna Sharma, D.R. Date Of Hearing: 27 02 2025 Date Of Pronouncement: 24 04 2025 O R D E R

1) Share Certificate No. 34502 issued in name of M/s All Time Buildtech Private Limited and which has subsequently been endorsed vide entry dated 28.01.2014 in the name of the assessee at Folio No. 1632. ITA No.313/LKW/2023 Page 12 of 17 (2) Copy of shareholders list of M/s Gold Line International Finvest Limited at Sl. No. 2028 vide client

MR. PAWAN KUMAR SINGH,BAREILLY vs. INCOME TAX OFFICER, BAREILLY

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

Bench: Shri Kul Bharat & Shri Nikhil Choudharyassessment Year: 2009-10 Mr Pawan Kumar Singh V. Income Tax Officer Ward-2(1) 848, Tilak Colony, Subhash Nagar, Bareilly (Up). Bareilly. Pan:Ccrps4435G (Appellant) (Respondent) Appellant By: Shri Abhinav Mehrotra, Adv. Respondent By: Shri Sunil Kumar Rajwanshi, Addl. Cit(Dr) Date Of Hearing: 22 04 2025 Date Of Pronouncement: 30 04 2025 O R D E R

Capital Gains by applying provisions of section 50C of the Income Tax Act, 1961, with total disregard to the facts & circumstances of the case. 2. That the Learned Assessing Officer has erred in assumption of jurisdiction to initiate re-assessment proceedings u/s 148 of the Income Tax Act, 1961, in the case of the assessee. 3. The assessee reserves

SHYAM SUNDER GUPTA,KANPUR vs. DY. COMMISSIONER OF INCOME TAX-1, KANPUR

In the result, the appeal of the assessee is dismissed

142(1) of the Act dated 05.05.2014 alongwith a detailed\nquestionnaire was also issued In response to the statutory notices, Shri\nMool Chand Pandey, Advocate, duly authorized by the assessee, appeared\nfrom time to time and furnished required details/explanations. Tax\nAuditor's report, Bank statements were furnished. Books of account were\nalso produced and put to test check. The case

MOHAMMED JUNED SIDDIQUI,LUCKNOW vs. DCIT/ACIT-1, LUCKNOW

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

Bench: Sh. Sudhanshu Srivastava & Sh. Nikhil Choudharya.Y. 2016-17 Mohammed Juned Siddiqui, Vs. Dcit/Acit-1, C-84/2, Sarvodaya Nagar, Indira Lucknow New Nagar, Lucknow-226016 Pan: Aqnps6188G (Appellant) (Respondent) Assessee By: Sh. Samrat Chandra Ca & Ms. Gurneet Kaur, Advocate Revenue By: Sh. R.K. Agarwal, Cit Dr Date Of Hearing: 30.07.2025 Date Of Pronouncement: 29.08.2025 O R D E R Per Nikhil Choudhary, A.M.: This Is An Appeal Filed By The Assessee Against The Order Of The Ld. Cit(A)-3, Lucknow Under Section 250 Of The Income Tax Act, 1961 On 20.11.2024, Dismissing The Appeals Of The Assessee Against The Order Of The Ld. Ao Dated 30.12.2018, Passed Under Section 143(3). The Grounds Of Appeal In Both The Appeals Are As Under: - “1. Because On The Facts & In The Circumstances Of The Case The Order Of Ld. Cit(A) Is Bad In Law & Deserves To Be Quashed Being Illegal. 2. Because On The Facts & In The Circumstances Of The Case The Order Of Ld. Cit(A) Is Bad Ld. Cit(A) Confirmed The Addition Of Rs.11,38,70,742/- Under The Head Capital Gain, Which Was Exempt U/S 10(37) Of The Income Tax Act, 1961 & Not Allowing The Benefit Of Provision Of Rfctlarr Act, 2013. 3. Because On The Facts & In The Circumstances Of The Case The Ld. Cit(A) Has Confirmed The Addition Of Rs. 11,38,70,742/- Only On The Basis Of Roving Enquiries Without Providing An Opportunity Of Being Heard. 4. Because Without Considering The Facts & Circumstances Of The Case The Ld. Cit(A) Has Confirmed The Addition Of 6,98,27,344/- Under The Head Capital Gains Being Amount

1) were thereafter issued to his elder son and legal heir, Sh. Arun Kumar Rawat. While Sh. Arun Kumar Rawat confirmed the death of his father on 12.10.2018, he had no knowledge with regard to the ownership of land in question by his late father or about any sale consideration received against sale such land to the U.P. Power Corporation