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

80C to Section 80U of the Act shall be allowed from his ‘gross total income’. Sub-section (2) of Section 80A of the Act provides that the aggregate amount of the deductions under Chapter VI-A shall not exceed the ‘gross total income’ of the Assessee. We are in agreement with the Appellate Authority that Section 80AB

ASSTT. COMMISSIONER OF INCOME TAX, CC-1, LUCKNOW, AAYAKAR BHAWAN, ASHOK MARG, LUCKNOW vs. APCO INFRATECH PVT. LTD., VIBHUTI KHAND GOMTI NAGAR LKO

In the result, appeals vide

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

80C to Section 80U of the Act shall be allowed from his ‘gross total income’. Sub-section (2) of Section 80A of the Act provides that the aggregate amount of the deductions under Chapter VI-A shall not exceed the ‘gross total income’ of the Assessee. We are in agreement with the Appellate Authority that Section 80AB

M/S. APCO INFRATECH PVT. LTD.,LUCKNOW vs. ACIT-1, LUCKNOW

In the result, appeals vide

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

80C to Section 80U of the Act shall be allowed from his ‘gross total income’. Sub-section (2) of Section 80A of the Act provides that the aggregate amount of the deductions under Chapter VI-A shall not exceed the ‘gross total income’ of the Assessee. We are in agreement with the Appellate Authority that Section 80AB

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

80C to Section 80U of the Act shall be allowed from his\n'gross total income'. Sub-section (2) of Section 80A of the Act\nprovides that the aggregate amount of the deductions under Chapter\nVI-A shall not exceed the 'gross total income' of the Assessee. We are\nin agreement with the Appellate Authority that Section 80AB

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

In the result, appeals vide I

80C to Section 80U of the Act shall be allowed from his\n'gross total income'. Sub-section (2) of Section 80A of the Act\nprovides that the aggregate amount of the deductions under Chapter\nVI-A shall not exceed the 'gross total income' of the Assessee. We are\nin agreement with the Appellate Authority that Section 80AB

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

capital in SPVs will yield dividend income which\nwould not be includible in assessee's total income. Hence, assessee should not\ndeducted the interest incurred on the amounted invested in these SPVs. The claim\nof assessee that the surplus interest free funds were available with the assessee\nand the investment made in SPVs are out of these surplus funds

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

Section 145 of the Income-tax Act, 1961 - Method of accounting - Estimation of income (GP rate) - Assessment years 2004-05 and 2005-06 - Assessee-company was carrying out contract of construction of roads awarded by Government - Due to various discrepancies in books of account, Assessing Officer rejected same and estimated profit at 10 per cent of gross receipts - Tribunal relying

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

Section 145 of the Income-tax Act, 1961 - Method of accounting - Estimation of income (GP rate) - Assessment years 2004-05 and 2005-06 - Assessee-company was carrying out contract of construction of roads awarded by Government - Due to various discrepancies in books of account, Assessing Officer rejected same and estimated profit at 10 per cent of gross receipts - Tribunal relying

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

Section 145 of the Income-tax Act, 1961 - Method of accounting - Estimation of income (GP rate) - Assessment years 2004-05 and 2005-06 - Assessee-company was carrying out contract of construction of roads awarded by Government - Due to various discrepancies in books of account, Assessing Officer rejected same and estimated profit at 10 per cent of gross receipts - Tribunal relying