RAJDHANI NAGAR SAHKARI BANK LTD,LUCKNOW vs. DY.CIT, LUCKNOW

In the result, the appeal of the assessee in ITA

depreciation. The net taxable income was Rs.76,15,298/-. Since no such claim of expenditure had been made, it could not be disallowed by the AO. Hence, the Ld. CIT(A) was justified in deleting the same.\n12\n12.\nOn the other hand, Shri Sanjeev Krishna Sharma, Ld. Departmental Representative on behalf of the Revenue submitted that

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

depreciation as per Income Tax Act, 1961, the\neligible profits of the eligible unit were thus reduced by an amount of\nRs.53,19,146/-a\nThe assessee was also required to specify the nature of other income'\ncredited to the P&L account of the eligible units and also to justify the claim u/s\n801A(4) w.r.t. such other income

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

depreciation as per Income Tax Act, 1961, the\neligible profits of the eligible unit were thus reduced by an amount of\nRs.53,19,146/-a\nThe assessee was also required to specify the nature of other income'\ncredited to the P&L account of the eligible units and also to justify the claim u/s\n801A(4) w.r.t. such other income

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

In the result, appeals vide I

depreciation as per Income Tax Act, 1961, the\neligible profits of the eligible unit were thus reduced by an amount of\nRs.53,19,146/-a\n\nThe assessee was also required to specify the nature of other income'\ncredited to the P&L account of the eligible units and also to justify the claim u/s\n801A(4) w.r.t. such other

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

deemed to be the total income of the assessee and the tax payable by the assessee on such total income shall be the amount of income-tax at the rate of eighteen and one-half per cent: Provided that for the previous year relevant to the assessment year commencing on or after the 1st day of April, 2020, the provisions

RAJDHANI NAGAR SAHKARI BANK LTD,LUCKNOW vs. DY. CIT, LUCKNOW

In the result, the appeal of the assessee in ITA

depreciation. The net\ntaxable income was Rs.76,15,298/-. Since no such claim of expenditure had been\nmade, it could not be disallowed by the AO. Hence, the Ld. CIT(A) was justified in\ndeleting the same.\n\n12.\nOn the other hand, Shri Sanjeev Krishna Sharma, Ld. Departmental\nRepresentative on behalf of the Revenue submitted that

RAJDHANI NAGAR SAHKARI BANK LTD,LUCKNOW vs. DY.CIT, LUCKNOW

depreciation. The net\ntaxable income was Rs.76,15,298/-. Since no such claim of expenditure had been\nmade, it could not be disallowed by the AO. Hence, the Ld. CIT(A) was justified in\ndeleting the same.\n12.\nOn the other hand, Shri Sanjeev Krishna Sharma, Ld. Departmental\nRepresentative on behalf of the Revenue submitted that the AO had passed

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

deemed to have been used or applied for the benefit of a person referred to in sub- section (3),— (a) if any part of the income or property of the trust or institution is, or continues to be, lent to any person referred to in sub- section (3) for any period during the previous year without either adequate security

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

deemed to have been used or applied for the benefit of a person referred to in sub- section (3),— (a) if any part of the income or property of the trust or institution is, or continues to be, lent to any person referred to in sub- section (3) for any period during the previous year without either adequate security

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

deemed to be the amount of income of that nature which is derived or received by the assessee and which is included in his gross total income.” As stated above, Section 80AB was inserted in the year 1981 to get over a judgment of this Court in Cloth Traders (P) Ltd. (supra). The Circular dated 22.09.1980 issued by the CBDT

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

deemed to be the amount of income of that nature which is derived or received by the assessee and which is included in his gross total income.” As stated above, Section 80AB was inserted in the year 1981 to get over a judgment of this Court in Cloth Traders (P) Ltd. (supra). The Circular dated 22.09.1980 issued by the CBDT

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

In the result, appeals vide

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

deemed to be the amount of income of that nature which is derived or received by the assessee and which is included in his gross total income.” As stated above, Section 80AB was inserted in the year 1981 to get over a judgment of this Court in Cloth Traders (P) Ltd. (supra). The Circular dated 22.09.1980 issued by the CBDT

ACIT(E), LUCKNOW vs. M/S. BHAGWANT INSTITUTE OF TECHNOLOGY, BIJNOR

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

dividends to its shareholders. But it does not follow that the Board\nmay not and need not earn of its for the purpose of performing its duties\nand discharging its obligations der the statute. It stands to common sense\nthat the Board must manage. its affairs on sound economic principles.\nHaving ventured into the field of Commerce, no public service

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

dividend or surplus generated is to be paid. Money and funds from sale, rent etc. are to be used for planned development and municipal services which are for general public good.” ………………………………………………………………………………………………… … ………………………………………………………………………………………………… … 13. In Black's Law Dictionary 8th Edition the word „commerce‟ has been defined as exchange of goods or services especially on large scale involving transportation between cities, States

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

dividend or surplus generated is to be paid. Money and funds from sale, rent etc. are to be used for planned development and municipal services which are for general public good.” ………………………………………………………………………………………………… … ………………………………………………………………………………………………… … 13. In Black's Law Dictionary 8th Edition the word „commerce‟ has been defined as exchange of goods or services especially on large scale involving transportation between cities, States

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

dividend or surplus generated is to be paid. Money and funds from sale, rent etc. are to be used for planned development and municipal services which are for general public good.” ………………………………………………………………………………………………… … ………………………………………………………………………………………………… … 13. In Black's Law Dictionary 8th Edition the word „commerce‟ has been defined as exchange of goods or services especially on large scale involving transportation between cities, States

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

dividend or surplus generated is to be paid. Money and funds from sale, rent etc. are to be used for planned development and municipal services which are for general public good.” ………………………………………………………………………………………………… … ………………………………………………………………………………………………… … 13. In Black's Law Dictionary 8th Edition the word „commerce‟ has been defined as exchange of goods or services especially on large scale involving transportation between cities, States

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

dividend or surplus generated is to be paid. Money and funds from sale, rent etc. are to be used for planned development and municipal services which are for general public good.” ………………………………………………………………………………………………… … ………………………………………………………………………………………………… … 13. In Black's Law Dictionary 8th Edition the word „commerce‟ has been defined as exchange of goods or services especially on large scale involving transportation between cities, States