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

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

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

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

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

366 ITR 505 (SC):\nThe Supreme Court emphasized that the disallowance under Section 14A applies\neven if the income from the investment is not received during the relevant assessment\nyear. The Court also stated that it is not necessary for the Assessing Officer to\ndemonstrate a direct nexus between the borrowed funds and the exempt income;\nrather, the onus

INCOME TAX OFFICER-2(5), KANPUR vs. SHRI VIKAS AGARWAL, KANPUR

In the result, the appeal of the Revenue stands dismissed

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

366 days in filing of this appeal. The Revenue has filed an application, dated 07/02/2020 for condonation of delay. For the sake of ready reference, the application dated 07/07/2020 is reproduced as below: "Sub.: Request for Condonation of delay in filing of appeal in the case of Shri Vikas Agarwal, C-441, Panki Kanpur (PAN:ADLPA3088Q) for assessment year

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

In the result, appeals vide I

366 ITR 505 (SC):\nThe Supreme Court emphasized that the disallowance under Section 14A applies\neven if the income from the investment is not received during the relevant assessment\nyear. The Court also stated that it is not necessary for the Assessing Officer to\ndemonstrate a direct nexus between the borrowed funds and the exempt income;\nrather, the onus

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

366 ITR 505 (SC):\nThe Supreme Court emphasized that the disallowance under Section 14A applies\neven if the income from the investment is not received during the relevant assessment\nyear. The Court also stated that it is not necessary for the Assessing Officer to\ndemonstrate a direct nexus between the borrowed funds and the exempt income;\nrather, the onus

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

In the result, both the appeals in ITA Nos

capital was also dumped. As per RBI norms, provisions\nwere required to be made on those NPA accounts. With regard to provision for\nGovernment Securities claimed at Rs.21,60,433/-, it was submitted that an amount of\nRs.21,60,433/- had been debited to profit and loss account in the name of provision\nfor Government securities. However, it was actually

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. 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. 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. 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