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

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

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

253 CTR (SC) 305 wherein the reopening beyond four years from the end of relevant assessment year is held to be invalid by Hon’ble Supreme Court: Conclusion : Assessee having disclosed full details of its dealings in stocks and shares in its return while claiming that the loss incurred by it was a business loss, reopening of the assessment

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

253 CTR (SC) 305 wherein the reopening beyond four years from the end of relevant assessment year is held to be invalid by Hon’ble Supreme Court: Conclusion : Assessee having disclosed full details of its dealings in stocks and shares in its return while claiming that the loss incurred by it was a business loss, reopening of the assessment

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

gains derived from such business for\nten consecutive assessment years.\nThe deduction is, therefore, admissible with reference to the profits and\ngains of an eligible undertaking 'derived from its eligible business. In various\njudicial pronouncements, the term 'derived from' has been interpreted in a narrow\nsense as compared to 'attributable to as used elsewhere with reference to other\ndeductions

SUBHASH JAISWAL ASSOCIATES,BAREILLY vs. PCIT BAREILLY, BAREILLY

5 The Tribunal has found that in the order passed by the PCIT,\nExplanation 2 of section 263 of the Act, 1961 is made applicable. The\nTribunal observed that the PCIT has not mentioned in the show cause\nnotice to invoke the Explanation 2 of section 263 of the Act 1961.\nTherefore, by invocation of Explanation in the order without

KAPIL KHANDELWAL,BAREILLY, UTTAR PRADESH vs. ASST. COMMISSIONER OF INCOME TAX, CIRCLE-I, BAREILLY , BAREILLY, UTTAR PRADESH

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

Bench: Sh. Sudhanshu Srivastava & Sh. Nikhil Choudharya.Y. 2015-16 Kapil Khandelwal, Vs. Asstt. Commissioner Of 56, Moar Kothi, Gangapur, Bareilly Income Tax, Circle-I, Bareilly Pan: Aiypk4908M (Appellant) (Respondent) Assessee By: Sh. P.K. Kapoor, C.A. Revenue By: Sh. R.R.N. Shukla, Addl Cit Dr Date Of Hearing: 22.01.2026 Date Of Pronouncement: 27.02.2026 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), Nfac Under Section 250 Of The Income Tax Act, 1961, Wherein The Ld. Cit(A) Has Confirmed The Penalty Levied Upon The Assessee Under Section 271(1)(C) By The Ld. Ao On 17.03.2022 & Dismissed The Appeal Of The Assessee For The A.Y. 2015-16. The Grounds Of Appeal Are As Under: - “1. Because Requisite Satisfaction For Levy Of Penalty U/S 271(1)(C) If The Income Tax Act 1961 Was Not Recorded In The Regular Assessment Order Dated 22.12.2017 Passed A/S 100%, Therefore, Penalty Proceedings Got Wholly Vitiated & Consequently, The Id. "Cit(A)" Ought To Have Quashed The Penalty Order Dated 17.03.2022, Being Illegal, Bad-In-Law & Without Jurisdiction 2. Because The Show Cause Notice For Levy Of Penalty Under Section 271(1)(C) Of The Act Did Not Specify Under Which Limb Penalty Was Sought To Be Imposed I.E.. Whether On Account Of Concealment Of Income Or For Furnishing Inaccurate Particulars Of Income & Consequently, The Penalty Order Dated 17.03.2022 Passed By Faceless Assessing Officer Deserved To Be Quashed.

capital gains as sham transactions. It was submitted that penalty could not be imposed upon it until mens rea was established. He placed reliance on the decision of the Hon’ble Supreme Court in the case of CIT vs. Reliance Petro Products (P.) Ltd. 322 ITR 158 and submitted that penalty proceedings may be kept in abeyance in view

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 transaction but the same wasapproved by the ld. Additional Commissioner of Income Tax on the nextdate which evidence that the approval was granted in mechanicalmanner. Thus, in the absence of proper approval under section 153D ofthe Act, the assessment order is bad in law. 18. Further reliance is placed upon recent decision of Hon’ble Lucknow Tribunal

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 transaction but the same wasapproved by the ld. Additional Commissioner of Income Tax on the nextdate which evidence that the approval was granted in mechanicalmanner. Thus, in the absence of proper approval under section 153D ofthe Act, the assessment order is bad in law. 18. Further reliance is placed upon recent decision of Hon’ble Lucknow Tribunal

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 transaction but the same wasapproved by the ld. Additional Commissioner of Income Tax on the nextdate which evidence that the approval was granted in mechanicalmanner. Thus, in the absence of proper approval under section 153D ofthe Act, the assessment order is bad in law. 18. Further reliance is placed upon recent decision of Hon’ble Lucknow Tribunal

BHANU PRATAP,BAREILLY vs. ITO-1(1), BAREILLY

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

Bench: Shri Anadee Nath Misshra

section 253(3) of IT Act. As per noting of registry, this appeal is time barred by 24 days. The assessee has submitted application for condonation of delay in filing of the appeal on medical ground, supported by medical certificate; pleading that the delay was unintentional and beyond the control of the assessee and has requested to admit the I.T.A

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

253(3) of IT Act. The assessee has submitted application for condonation of delay in filing of the Cross Objection; pleading that the delay was unintentional and beyond the control of the assessee and has requested to admit the Cross Objection for hearing. The learned Departmental Representative for Revenue did not express any objection to assessee’s application for condonation

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

253(3) of IT Act. The assessee has submitted application for condonation of delay in filing of the Cross Objection; pleading that the delay was unintentional and beyond the control of the assessee and has requested to admit the Cross Objection for hearing. The learned Departmental Representative for Revenue did not express any objection to assessee’s application for condonation

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

253(3) of IT Act. The assessee has submitted application for condonation of delay in filing of the Cross Objection; pleading that the delay was unintentional and beyond the control of the assessee and has requested to admit the Cross Objection for hearing. The learned Departmental Representative for Revenue did not express any objection to assessee’s application for condonation

NETPLAST PVT.LTD.,KANPUR vs. ACIT CIRCLE 2(3)(1), KANPUR

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

gain would be\npaid.\nSince the assessee could not substantiate the alleged capital\nexpenditure of Rs.84,00,000/- claimed to have been made by\nShri Arpit Agarwal in the land, which is lying in the books of the\nassessee by producing/furnishing reliable documentary\nevidences. Thus, the assessee failed to prove genuineness of the\ntransaction. It is on record that during

DCIT, LUCKNOW vs. M/S U.P. STATE SUGAR CORPORATION LTD., LUCKNOW

In the result, the appeals of the Revenue are dismissed and the appeal of the assessee is partly allowed for statistical purposes

Bench: Shri Kul Bharat & Shri Anadee Nath Misshra

253(3) of IT Act. As per noting of registry, this appeal is time barred by 03 days only. The assessee has submitted application for condonation of delay in filing of the appeal; pleading that the delay was unintentional and beyond the control of the assessee and has requested to admit the appeal for hearing. The learned Sr. Departmental Representative

DCIT, LUCKNOW vs. M/S U.P. STATE SUGAR CORPORATION LTD., LUCKNOW

In the result, the appeals of the Revenue are dismissed and the appeal of the assessee is partly allowed for statistical purposes

Bench: Shri Kul Bharat & Shri Anadee Nath Misshra

253(3) of IT Act. As per noting of registry, this appeal is time barred by 03 days only. The assessee has submitted application for condonation of delay in filing of the appeal; pleading that the delay was unintentional and beyond the control of the assessee and has requested to admit the appeal for hearing. The learned Sr. Departmental Representative