PANKAJ AGARWAL,KANPUR vs. THE AO SPECIAL RANGE,, KANPUR

In the result, the appeal of the assessee is allowed

Bench: Sh. Sudhanshu Srivastava & Sh. Nikhil Choudharya.Y. 2017-18 Pankaj Agarwal, 7/151, Ratan Vs. The Assessing Officer, Majestic, Opp. Sony World, Special Range, Kanpur- Swaroop Nagar, Kanpur-208002 208001 Pan: Abnpa4816E (Appellant) (Respondent) Assessee By: Sh. Rakesh Garg, Adv Revenue By: Sh. R.R.N. Shukla, Addl Cit Dr Date Of Hearing: 23.12.2025 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 Order Passed By The Ld. Cit(A), Nfac Dated 9.01.2024 Wherein The Ld. Cit(A) Has Dismissed The Appeal Of The Assessee Against The Orders Of The Ld. Ao, Special Range, Kanpur, Passed Under Section 143(3) On 26.09.2019. 2. It Is Seen From The Record That The Appeal Is Delayed By 2 Days. However, Since The Date Of Filing Is Preceded By Saturday & Sunday, Wherein The Offices Of The Itat Were Closed, The Delay Is Condoned & The Appeal Is Admitted For Hearing. The Grounds Of Appeal Are As Under: - “1. Because The Cit(A) Has Erred On Facts & In Law In Treating The Loss Of Rs.42,17,895/- Being Loss On Account Of Trading In Derivatives As A Capital Loss As Against Business Loss Claimed By The Assessee, Which Finding Of The Ao Being Contrary To Facts, Bad In Law, The Addition Made Be Deleted.

loss and capital gains, not applicable to the assessee's case, the provisions of section 72 to be invoked, the CIT(A) was not justified in not setting

SUBHASH JAISWAL ASSOCIATES,BAREILLY vs. PCIT BAREILLY, BAREILLY

loss was set off against gain\nof shares of another company. The Assessing Officer allowed the claim of\nthe assessee. Subsequently, the Commissioner set aside the assessment\norder on the ground that capital

INCOME TAX OFFICER-3(1), KANPUR vs. SHRI ARVIND KUMAR GUPTA, KANPUR

In the result, the appeal is held to be allowed for statistical purposes

Bench: SH.KUL BHARAT, VICE PRESIDENT AND SH. NIKHIL CHOUDHARY (Accountant Member)

loss through penny stocks and appeals / SLPs in such cases could be filed on merits. It was submitted that the present case was one such case and therefore, the delay in the filing of the appeal within the limitation period was beyond the control of the Department. Accordingly, it was prayed that the delay in the filing of the appeal

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, BAREILLY, BAREILLY vs. ANKUR ANAND, BAREILLY

Appeals of the Department stand dismissed

Bench: Shri Sudhanshu Srivastava & Shri Nikhil Choudharyit(Ss) A Nos.336 & 337/Lkw/2025 Assessment Years: 2014-15 & 2015-16 Acit, Central Circle, Bareilly Vs. Ankur Anand Kamla Nehru Marg, Civil Lines, 148 Civil Lines, Bareilly, Bareilly, Bareilly-243001. Bareilly-243001. Tan/Pan:Agppa4219C (Appellant) (Respondent) It(Ss)A No.334/Lkw/2025 Assessment Year:2015-16 Acit, Central Circle, Bareilly Vs. Mohit Anand Kamla Nehru Marg, Civil Lines, 148 Civil Lines, Bareilly, Bareilly, Bareilly-243001. Bareilly-243001. Tan/Pan:Abupa3002H (Appellant) (Respondent)

loss account for FY 2013-14 found in digital form were found and seized during the search proceedings in the case of the assessee, and assessees statement under section 132(4) of the Act was also recorded on this issue. 4. Whether on facts and circumstances of the case and in law. the CIT(A) has erred in ignoring

ASSISTANT COMMISIONER OF INCOME TAX, CENTRAL CIRCLE, BAREILLY, BAREILLY vs. MOHIT ANAND, BAREILLY

Appeals of the Department stand dismissed

Bench: Shri Sudhanshu Srivastava & Shri Nikhil Choudharyit(Ss) A Nos.336 & 337/Lkw/2025 Assessment Years: 2014-15 & 2015-16 Acit, Central Circle, Bareilly Vs. Ankur Anand Kamla Nehru Marg, Civil Lines, 148 Civil Lines, Bareilly, Bareilly, Bareilly-243001. Bareilly-243001. Tan/Pan:Agppa4219C (Appellant) (Respondent) It(Ss)A No.334/Lkw/2025 Assessment Year:2015-16 Acit, Central Circle, Bareilly Vs. Mohit Anand Kamla Nehru Marg, Civil Lines, 148 Civil Lines, Bareilly, Bareilly, Bareilly-243001. Bareilly-243001. Tan/Pan:Abupa3002H (Appellant) (Respondent)

loss account for FY 2013-14 found in digital form were found and seized during the search proceedings in the case of the assessee, and assessees statement under section 132(4) of the Act was also recorded on this issue. 4. Whether on facts and circumstances of the case and in law. the CIT(A) has erred in ignoring

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, BAREILLY, BAREILLY vs. ANKUR ANAND, BAREILLY

Appeals of the Department stand dismissed

Bench: Shri Sudhanshu Srivastava & Shri Nikhil Choudharyit(Ss) A Nos.336 & 337/Lkw/2025 Assessment Years: 2014-15 & 2015-16 Acit, Central Circle, Bareilly Vs. Ankur Anand Kamla Nehru Marg, Civil Lines, 148 Civil Lines, Bareilly, Bareilly, Bareilly-243001. Bareilly-243001. Tan/Pan:Agppa4219C (Appellant) (Respondent) It(Ss)A No.334/Lkw/2025 Assessment Year:2015-16 Acit, Central Circle, Bareilly Vs. Mohit Anand Kamla Nehru Marg, Civil Lines, 148 Civil Lines, Bareilly, Bareilly, Bareilly-243001. Bareilly-243001. Tan/Pan:Abupa3002H (Appellant) (Respondent)

loss account for FY 2013-14 found in digital form were found and seized during the search proceedings in the case of the assessee, and assessees statement under section 132(4) of the Act was also recorded on this issue. 4. Whether on facts and circumstances of the case and in law. the CIT(A) has erred in ignoring

SHRI CHETAN SHARMA,KANPUR vs. PRINCIPAL COMMISSIONER OF INCOME TAX (CENTRAL), KANPUR

In the result, both appeals are allowed

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

Capital Gain as detailed earlier; and the Assessing Officer has also categorically confirmed this is in the aforesaid office note referred to paragraph no. 6.2 of the impugned order. Therefore, it is held that the order of the Ld. PCIT holding the assessment order dated 30.12.2016 to be erroneous and prejudicial to interests of Revenue, is not supported by credible

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.

loss on sale of shares as discussed above Rs. 3,20,90,164/- Rs. 4,20,46,422/- Less: Unabsorbed depreciation as claimed Rs. 3,13,97,278/- Net Capital Gain Rs. 1,06,49,144/- The net income assessed for the year under consideration after setting

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

set up by the assessee has been approved\nby the prescribed authority and necessary approval was granted in the\nprescribed format, then the communication in form 3CM was thereafter\nbetween the prescribed authority and the department. If the same was not\nso surely the assessee cannot be make to suffer. The Hon'ble Madras High\nCourt in the case

M/S. NARAIN PROPERTIES LIMITED,KANPUR vs. ACIT-VI, KANPUR

In the result, the appeal of the assessee

Bench: Shri Kul Bharat & Shri Anadee Nath Misshra

gain which is to be computed in view of provision of section 45 to 54 of 1.T. Act or capital loss which is not admissible at all. The assesse has not furnished any material which proves delivery of shares at the time of purchase and sales. Therefore, in absence of am satisfactory reply and adequate details, the losses

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1, BAREILLY vs. MS SHREE BHAWANI MILLS, SHAHJAHANPUR

In the result, the appeal of the Department is partly allowed while the Cross

Bench: Sh. Sudhanshu Srivastava & Sh. Nikhil Choudharya.Y. 2017-18 Deputy Commissioner Of Income Vs. M/S Shree Bhawani Mills, Tax, Circle-1, Bareilly Gandhi Ganj, Shahjahanpur, U.P. Pan:Aadfs8573M (Appellant) (Respondent) & C.O. No.15/Lkw/2023 A.Y. 2017-18 M/S Shree Bhawani Mills, Gandhi Vs. Deputy Commissioner Of Ganj, Shahjahanpur, U.P. Income Tax, Circle-1, Bareilly Pan:Aadfs8573M (Appellant) (Respondent) Assessee By: Sh. P.K. Kapoor, C.A. Revenue By: Sh. Manu Chaurasia, Cit Dr Date Of Hearing: 12.03.2025 Date Of Pronouncement: 25.04.2025 O R D E R Per Nikhil Choudhary, A.M.: This Is An Appeal Filed By The Revenue Against The Order Of The Ld. Cit(A) Passed Under Section 250 Of The Income Tax Act On 7.09.2023 Allowing The Appeal Of The Assessee Against The Order Passed By The Ld. Ao On 30.03.2022 Under Section 147 R.W.S. 144 Of The Income Tax Act, 1961. The Grounds Of Appeal Are As Under:-

losses, it closed down its business in August, 2016, which was duly informed to ITO-1(4), Shahjahanpur on 6.04.2017. The assessee firm had a secured loan from Punjab National Bank against the security, building, structure and plant and machinery of the firm as well as the land, which was owned by one of its partners, Smt. Shakuntla Devi

DCIT, RANGE-3, LUCKNOW vs. M/S. PRAYAGRAJ POWER GENERATION COMPANY LTD.,, NOIDA

In the result, ground no. 1 of appeal is dismissed and ground no

Bench: Shri Kul Bharat & Shri Anadee Nath Misshra

capital asset, being share of a special purpose vehicle, to a business trust in exchange of units allotted by the trust referred to in clause (xvii) of section 47 or the amount representing notional loss resulting from any change in carrying amount of said units or the amount of loss on transfer of units referred to in clause (xvii

DOLLY JINDAL,LUCKNOW vs. ITO-3(5), LUCKNOW

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

Bench: Shri. Sudhanshu Srivastavaassessment Year: 2012-13 Dolly Jindal V. The Income Tax Officer 3(5) 107, Beverly Park Apartment Lucknow New Hyderabad Lucknow Tan/Pan:Afmpj5089D (Appellant) (Respondent) Appellant By: None Respondent By: Shri Sunil Kumar Rajwanshi, D.R. Date Of Hearing: 23 04 2025 Date Of Pronouncement: 25 04 2025 O R D E R

loss of Rs.3,12,917/-, but had not provided any documentary evidence to support her claim. The AO, from the letter of the Estate Officer, HSVP, Jagadhari, noticed that the total purchase price of the said property, which was registered on 27.08.2004, was Rs.15,00,000/- only. The AO accordingly calculated the Capital Gain of the said property as under

TECHNICAL ASSOCIATES LIMITED,LUCKNOW vs. DCIT, RANGE-3, LUCKNOW

In the result, the appeal of the assessee stands allowed

Bench: Shri G. D. Padamahshali & Shri Subhash Malguriaassessment Year: 2015-16 Technical Associates Limited V. Dy. Commissioner Of Income 8Th Km, Faizabad Road Tax Vijaypur, Gomti Nagar Range 6 Lucknow Lucknow Pan:Aabct7365F (Appellant) (Respondent) Appellant By: Shri Santhosh Kumar Respondent By: Shri Sanjeev Krishna Sharma, D.R. Date Of Hearing: 25 06 2024 Date Of Pronouncement: 25 06 2024 O R D E R

loss) on sale of assets’ under the head ‘OTHER INCOME/MISC RECEIPT’ under Note 18 as appearing at page 50 of the paper book. The books of account of the assessee are duly audited and the Tax Audit Report was submitted by the assessee along with the return of income. The profit from sale of vehicles, amounting to Rs.3

SH. SUKHVINDER SINGH,KANPUR vs. PR CIT, CENTRAL, KANPUR

In the result, both appeals filed by the assessee are allowed for statistical purposes

gain on sale of shares of M/s. Blue Circle Services Ltd on face value, without independent inquiry. The Ld. PCIT was of the view that the assessment order passed by the Assessing Officer showed non-application of mind on the documents and materials on record. The Ld. PCIT passed order dated 17.03.2020 under section 263 of the Act whereby

SH. SUKHVINDER SINGH,KANPUR vs. PR CIT, CENTRAL, KANPUR

In the result, both appeals filed by the assessee are allowed for statistical purposes

Bench: Shri Kul Bharat & Shri Anadee Nath Misshra

gain on sale of shares of M/s. Blue Circle Services Ltd on face value, without independent inquiry. The Ld. PCIT was of the view that the assessment order passed by the Assessing Officer showed non-application of mind on the documents and materials on record. The Ld. PCIT passed order dated 17.03.2020 under section 263 of the Act whereby

ARUN KUMAR MAURYA,LUCKNOW vs. ITO-2(1), LUCKNOW

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

Bench: Shri Kul Bharat & Shri Anadee Nath Misshra

loss or had not under paid tax in any manner. Unless a notice u/s 143(2) of the Act is served on the assessee, the Assessing Officer is bound to accept the return filed by the assessee even if the assessee delays the filing of the return. If the assessee delays the filing of return, the Assessing Officer would

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

capital gain and therefore he had reason to believe that income to the tune of Rs. 3,31,15,313.49 had escaped assessment for the assessment year 2000-01. In Haryana Acrylic Manufacturing Co. v. CIT [2008] 175 Taxman 262 (Delhi) it was held by the Hon’ble Delhi High Court as under: 19. Examining the proviso [set out above

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

capital gain and therefore he had reason to believe that income to the tune of Rs. 3,31,15,313.49 had escaped assessment for the assessment year 2000-01. In Haryana Acrylic Manufacturing Co. v. CIT [2008] 175 Taxman 262 (Delhi) it was held by the Hon’ble Delhi High Court as under: 19. Examining the proviso [set out above