PREM MANOHAR GUPTA,KANPUR vs. DY. COMMISSIONER OF INCOME TAX-2, KANPUR

In the result, appeal in I

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

Section 143(3) where as the intimation was u/s 143(1). The CIT(A) acted beyond its power by directing the Assessing Officer to tax the capital gains in respect of sale of land at Gurgaon, though, there was no addition made by the Assessing Officer in the assessment order to that respect. Capital gain is an independent and different

PREM MANOHAR GUPTA,KANPUR vs. DY. COMMISSIONER OF INCOME TAX-2, KANPUR

In the result, appeal in I

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

Section 143(3) where as the intimation was u/s 143(1). The CIT(A) acted beyond its power by directing the Assessing Officer to tax the capital gains in respect of sale of land at Gurgaon, though, there was no addition made by the Assessing Officer in the assessment order to that respect. Capital gain is an independent and different

SURYA INTERNATIONAL PVT. LTD.,LUCKNOW vs. CENTRAL PROCESSING CENTRE, BANGALORE

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

Bench: Shri Kul Bharat & Shri Anadee Nath Misshra

capital nature NIL Particulars Amount in (Rs.) Remarks if any 2 Expenditure of personal nature Particulars Amount in Rs. DONATION 2,25,000 3 Expenditure of advertisement in any NIL souvenir, brochure, tract, pamphlet or the like, published by a political party Particulars Amount in Rs. Remarks if any 4 Expenditure incurred at clubs being NIL entrance fees and subscriptions

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

9,00,000/- Stamp Duty value Rs. 82,35,000/- to his son AlokPandey (PAN-CZZPP5325B). Considering the provision of Sec. 50C, the liability of Long Term Capital Gain was computed amounting to Rs.68,98,817/- and claimed deduction u/s 54F of the Income Tax Act against the investment made in house property situated at 57, Laxmanpuri, Indira Nagar, Lucknow

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

9,00,000/- Stamp Duty value Rs. 82,35,000/- to his son AlokPandey (PAN-CZZPP5325B). Considering the provision of Sec. 50C, the liability of Long Term Capital Gain was computed amounting to Rs.68,98,817/- and claimed deduction u/s 54F of the Income Tax Act against the investment made in house property situated at 57, Laxmanpuri, Indira Nagar, Lucknow

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

9,00,000/- Stamp Duty value Rs. 82,35,000/- to his son AlokPandey (PAN-CZZPP5325B). Considering the provision of Sec. 50C, the liability of Long Term Capital Gain was computed amounting to Rs.68,98,817/- and claimed deduction u/s 54F of the Income Tax Act against the investment made in house property situated at 57, Laxmanpuri, Indira Nagar, Lucknow

GENUS POWER INFRASTRUCTURES LIMITTED,NOIDA vs. PR. COMMISSIONER OF INCOME TAX(CENTERAL), LUCKNOW

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

Capital Gain. Query no.\n8 is being replied in query no. 3 above. Query no. 9 and 7 are similar\nwhich is being replied in query no. 7 above. In response to your query no.\n10, sir, it is stated that according to the size of the company as well as in\ncomparison of earlier years, the same are quite

M/S RAJ KUMAR SINGH & CO.,LUCKNOW vs. DY. COMMISSIONER OF INCOME TAX, LUCKNOW

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

Bench: Shri Sudhanshu Srivastava & Shri Anadee Nath Misshra

9 the partnership in which all the partners would have interest in proportion to their share in the joint venture of the business of partnership. The person who brought it in would, therefore, not be able to claim or exercise any exclusive right over any property which he had brought in, much less over any other partnership property. He would

ASTT. COMMISSIONER OF INCOME TAX, LUCKNOW vs. M/S PRAG INDUSTRIES (INDIA) PVT. LTD., LUCKNOW

In the result, appeal of Revenue and Cross Objection of assessee, both are dismissed

Bench: Shri Kul Bharat, Videshri Anadee Nath Misshra

40A(2)(b) of the Act; is excessive or unreasonable having regard to the fair market value of the goods, services or facilities for which the payment is made or the legitimate needs of the business or the profession of the assessee or the benefit derived by or accruing to him therfrom. We also find that the reliance placed