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

ASTT. COMMISIONER 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

ASTT. COMMISIONER 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

ASTT. COMMISIONER 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

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

ASTT. COMMISIONER 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

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

71,15,320/-. In the aforesaid assessment order, an addition of Rs.2,14,22,053/- was made u/s 56(2)(vii)(b) of the Act and an addition of Rs.49,11,947/- was made towards Short Term Capital Gain (STCG). The aforesaid additions have been made by the Assessing Officer (“AO”), in respect of transactions in immovable property. The assessee

ISHWAR DWELLINGS PVT. LTD,KANPUR vs. PRINCIPAL COMMISSIONER OF INCOME TAX -1, KANPUR

In the result, the appeal of the assessee stands allowed

Bench: Shri A. D. Jain & Shri T. S. Kapoorassessment Year:2015-16

capital asset. While computing the Book Profit u/s. 115JB, the gain of Rs.4,57,71,000/- cannot be reduced from Net Profit because the amount credited in I.T.A. No.44/Lkw/2021 Assessment Year:2015-16 16 P&L is not exempt in section 10 as the gain is not an agricultural income which is restricted to the nature of income mentioned

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

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

SHAHEEN RABIA,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

NAUSHEEN FARAH,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

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

71,382/-. 7. That the assessment completed by learned assessing officer is arbitrary, prejudicial and unlawful. 8. That the learned assessing officer has erred in not providing proper and adequate opportunity to the appellant.” I.T.A. No.58/Lkw/2022 “1. That the notice issued and assessment completed under section 153A of the act is invalid and unlawful being without jurisdiction. 2. That

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

71,382/-. 7. That the assessment completed by learned assessing officer is arbitrary, prejudicial and unlawful. 8. That the learned assessing officer has erred in not providing proper and adequate opportunity to the appellant.” I.T.A. No.58/Lkw/2022 “1. That the notice issued and assessment completed under section 153A of the act is invalid and unlawful being without jurisdiction. 2. That

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

71,382/-. 7. That the assessment completed by learned assessing officer is arbitrary, prejudicial and unlawful. 8. That the learned assessing officer has erred in not providing proper and adequate opportunity to the appellant.” I.T.A. No.58/Lkw/2022 “1. That the notice issued and assessment completed under section 153A of the act is invalid and unlawful being without jurisdiction. 2. That

TINICH SAHKARI GANNA SAMITI LIMITED,BASTI vs. ITO, , BASTI

Bench: Shri. Sudhanshu Srivastava

71,717/- Interest income as per ITR Rs.2,86,061/- Total Taxable income (rounded off) Rs.26,57,780/- ITA No.295/LKW/2023 Page 7 of 28 3.1 The AO completed the assessment under section 143(3) of the Act, assessing the total income at Rs.26,57,780/-. 3.2 The AO also initiated penalty proceedings under sections 271(1)(1)(c) and 271B

TINICH SAHKARI GANNA SAMITI LIMITED,BASTII vs. ITO, BASTI

Bench: Shri. Sudhanshu Srivastava

71,717/- Interest income as per ITR Rs.2,86,061/- Total Taxable income (rounded off) Rs.26,57,780/- ITA No.295/LKW/2023 Page 7 of 28 3.1 The AO completed the assessment under section 143(3) of the Act, assessing the total income at Rs.26,57,780/-. 3.2 The AO also initiated penalty proceedings under sections 271(1)(1)(c) and 271B