HARCHARAN SINGH,KANPUR vs. INCOME TAX OFFICER-2(5), KANPUR

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

Bench: Shri Kul Bharat & Shri Nikhil Choudharyआयकर अपील सं/ Ita No.201/Lkw/2022 ननिाारण वर्ा/ Assessment Year: 2013-14 Harcharan Singh V. Ito-2(5) 118/208, Kaushalpuri, Kanpur- Kanpur 208012. Pan:Anxps2189N अपीलार्थी/(Appellant) प्रत्यर्थी/(Respondent) अपीलार्थी कक और से/Appellant By: None प्रत्यर्थी कक और से /Respondent By: Shri Deepak Yadav, Cit(Dr) सुनवाई कक तारीख / Date Of Hearing: 10 06 2025 घोर्णा कक तारीख/ Date Of 30 06 2025 Pronouncement: आदेश / O R D E R

section 50C were not applicable to the same (at the time of sale); 5. the authorities below have erred in law and on facts in computing/upholding the computation of Long Term Capital Gain at Rs.1,56,21,620/- by treating the sale plots of land as sale of capital asset simpliciter (instead of treating the same as stock-in-trade

DY. COMMISSIONER OF INCOME TAX-VI, KANPUR vs. COMMERCIAL AUTOMOBILES PVT. LTD., KANPUR

In the result, the appeal of the Revenue is dismissed

Bench: Sh. Sudhanshu Srivastava & Sh. Nikhil Choudharya.Y. 2006-07 Asstt. Commissioner Of Vs. M/S Commercial Automobiles Pvt. Ltd., Income Tax-5, Kanpur 84/105, Kailash Motors Building, G.T. Road, Afim Kothi, Kanpur-208003 Pan: Aaccc4267E (Appellant) (Respondent) Assessee By: Sh. Rakesh Garg, Advocate Revenue By: Sh. R.K. Agarwal, Cit Dr Date Of Hearing: 04.11.2025 Date Of Pronouncement: 24.11.2025 O R D E R Per Nikhil Choudhary, A.M.: [ This Is An Appeal Filed By The Revenue Against The Orders Of The Ld. Cit (A)- 2, Kanpur Dated 25.09.2017, Wherein The Ld. Cit(A) Has Partly Allowed The Appeal Of The Assessee Against The Orders Of The Ld. Ao Passed Under Section 143(3) Of The Income Tax Act, 1961, For The A.Y. 2006-07 On 23.12.2008. The Grounds Of Appeal Are As Under:- “1. That The Cit(A) Has Erred In Law & On Facts In Deleting The Addition Of Rs. 5,32,366/- U/S 14A Without Taken Into Consideration That The Expenditure Incurred In Relation To Exempt Income. 02. That The Cit(A) Has Erred In Law & On Facts In Deleting The Addition Of Rs. 99,56,258/-Without Appreciating That The Provisions Of Sec. 50C Have Been Invoked By The Assessing Officer On The Basis Of Stamp Valuation Of The Property. The Assessee Has Not Claimed Before The Assessing Office To Make The Reference To The Valuation Officer U/S 55A Of It Act, 1961. 3 That The Cit(A) Has Erred In Law & On Facts Of The Case In Deleting The Addition Of Rs. 3,20,90,164/- On Account Of Loss Claimed On Sale Of Shares Without Appreciating That The Transaction As Claimed Were Sham & Was Incorporated Only To Evade The Capital Gain Earned On The Sale Of Properties. The Cit(A) Has Erred In Law & On The Facts Of The Case In Ignoring The Facts Noted By The Assessing Officer Regarding The Transaction Of Sale Of Shares.

capital gain under the normal provisions of the Act and at Rs. 6,03,02,570/- under section 115JB of the Act, 1961. As the tax worked out in respect of income determined under the normal provisions of the Act was less than the tax calculated on the book profit computed under section 115JB of the Act, he levied

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 gain by applying provision of Section 50C of the Act. The contention of the Ld. Counsel for the assessee as recorded elsewhere in this order is that the Ld. CIT(A) as well as the assessing authority grossly failed to obtain valuation report from the DVO as contemplated u/s 50C of the Act. This contention of the assessee

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

41 of 87 I.T.A. No.619 & 620/Lkw/2024 Assessment year:2015-16 & 16-17 from the end of the relevant assessment year if the following conditions are satisfied: -an assessment under sub-section (3) of section 143 or this section has been made for the relevant assessment year; and unless any income chargeable to tax has escaped assessment for such assessment 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

41 of 87 I.T.A. No.619 & 620/Lkw/2024 Assessment year:2015-16 & 16-17 from the end of the relevant assessment year if the following conditions are satisfied: -an assessment under sub-section (3) of section 143 or this section has been made for the relevant assessment year; and unless any income chargeable to tax has escaped assessment for such assessment year

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

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

41,000/- had been paid as advance upto the date of agreement and the remaining amount has been paid thereafter. (vi) The agreement has been entered upon. The consideration as per the purchase agreement should be adopted for consideration and amount the stamp value. Proviso to section 56(2)(vii)(b) & Section 50C(2). (vii) The sale deed executed

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 (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

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

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 (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

M/S AYODHYA FAIZABAD DEVELOPEMENT AUTHORITY,FAIZABAD vs. DY. COMMISSIONER OF INCOME TAX (EXEMPTION), LUCKNOW

41 \ndealt with control by the state Govt and gave it the power to issue instructions, while section 55 \ngave the state govt the power to make rules for the administration of the act. Thus, it was \nsubmitted that the authority was functioning under the provisions of the said act, for the \nachievements of its objectives and was doing

M/S AYODHYA FAIZABAD DEVELOPEMENT AUTHORITY,FAIZABAD vs. DY. COMMISSIONER OF INCOME TAX (EXEMPTION), LUCKNOW

41 \ndealt with control by the state Govt and gave it the power to issue instructions, while section 55 \ngave the state govt the power to make rules for the administration of the act. Thus, it was \nsubmitted that the authority was functioning under the provisions of the said act, for the \nachievements of its objectives and was doing

M/S AYODHYA DEVELOPMENT AUTHORITY (FORMELY AYODHYA FAIZABAD DEVELOPMENT AUTHORITY),LUCKNOW vs. THE DY. COMMISSIONER OF INCOME TAX (EXEMPTION), LUCKNOW, LUCKNOW

In the result all six appeals filed by the assessee are partly allowed

41 \ndealt with control by the state Govt and gave it the power to issue instructions, while section 55 \ngave the state govt the power to make rules for the administration of the act. Thus, it was \nsubmitted that the authority was functioning under the provisions of the said act, for the \nachievements of its objectives and was doing

M/S AYODHYA DEVELOPMENT AUTHORITY(FORMERLY AYODHYA FAIZABAD DEVELOPMENT AUTHORITY),AYODHYA vs. THE DY. COMMISSIONER OF INCOME TAX (EXEMPTION), LUCKNOW

Bench: Sh. Sudhanshu Srivastava & Sh. Nikhil Choudhary

gains from business and profession’. The net surplus disclosed by the assessee of Rs.2,24,59,203/- in the income and expenditure account was therefore added to the total income of the assessee and penalty proceedings under section 271(1)(c) were initiated. 11. Moving on further, the ld. AO observed that the assessee had transferred funds to the infrastructure

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

In the result, the appeal of the assessee is dismissed

capital gains arising before the 1st day of\nApril, 1946, or after the 32st day of March 1948, and before the 1st day of\nApril, 1956. Explanation 2, - The expression “accumulated profits" in sub-\nclause (a), (b), (d) and (e), shall include all profits of the company up to the\ndate of distribution or payment referred to in those

KARUNESH KUMAR SHUKLA,LUCKNOW vs. INCOME TAX OFFICER-1(1), LUCKNOW

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

Capital gain when from the deeds it is clear that the share of sale consideration assessable in the hands of the assessee is Rs. 3,38,50,000/- (Total of Rs. 2,41,00,000.00 and Rs. 97,50,000.00). 3. Because without considering the facts and circumstances of the case, the Ld. CIT(A) has erred

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

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. However, Ld. AO rejected the claim of assessee on following ground being details filed in ITR in AL schedule:- i. opp. VikasBhawan, Pant Nagar, Civil Lines, Gonda

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

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. However, Ld. AO rejected the claim of assessee on following ground being details filed in ITR in AL schedule:- i. opp. VikasBhawan, Pant Nagar, Civil Lines, Gonda

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

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. However, Ld. AO rejected the claim of assessee on following ground being details filed in ITR in AL schedule:- i. opp. VikasBhawan, Pant Nagar, Civil Lines, Gonda