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.

disallow the same as holding it to be capital loss. It was pointed out that such contradictory stance could not be condoned and therefore, also the losses from derivatives ought to be regarded as business loss in the same manner that profits from derivatives had been regarded as business profits. 6. On the other hand, Shri. R.R.N. Shukla

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.

carry forward losses:- Net Profit as declared Rs. 4,87,81,895/- Add: 1. Out of bad debts claimed being TDS as discussed above Rs. 5,30,187/- 2. Out of bad debts claimed being unrecoverable from different parties as discussed above Rs. 4,05,770/- 3. On account of cessation of liabilities u/s 14(1) as discussed above

M/S SARASWATI SHEET GRAH,KANPUR vs. THE DY. COMMISSIONER OF INCOME TAX, CPC, BANGALORE

In the result, both the appeals of the assessee are allowed

Bench: Shri T.S. Kapoor

disallowance of any loss carried forward, deduction, allowance or relief claimed which, on the basis of information available in the return

M/S SARASWATI SHEET GRAH,KANPUR vs. THE DY. COMMISSIONER OF INCOME TAX, CPC, BANGALORE, CPC, BENGALURU

In the result, both the appeals of the assessee are allowed

Bench: Shri T.S. Kapoor

disallowance of any loss carried forward, deduction, allowance or relief claimed which, on the basis of information available in the return

M/S SATISH COLD STORAGE,KANPUR vs. DCIT, CIRCLE1(1)(1), KANPUR, KANPUR

In the result, both the appeals of the assessee are allowed

Bench: Shri T. S. Kapoor

disallowance of any loss carried forward, deduction, allowance or relief claimed which, on the basis of information available in the return

M/S SATISH COLD STORAGE,KANPUR vs. DCIT, CIRCLE1(1)(1), KANPUR

In the result, both the appeals of the assessee are allowed

Bench: Shri T. S. Kapoor

disallowance of any loss carried forward, deduction, allowance or relief claimed which, on the basis of information available in the return

PANKAJ AGARWAL,KANPUR vs. JT.CIT CIRCLE-1(1)(1), KANPUR

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

Bench: Sh. Sudhanshu Srivastava & Sh. Nikhil Choudharya.Y. 2012-13 Pankaj Agarwal, 7/151, Ratan Vs. The Jt. Commissioner Of Majestic, Opp. Sony World, Income Tax, Circle 1(1)(1), Swaroop Nagar, Kanpur-208002 Kanpur-208001 Pan:Abjfs4912R (Appellant) (Respondent) Assessee By: Sh. Rakesh Garg, Adv Revenue By: Sh. Sanjeev Krishna Sharma Sr Dr & Sh Sunil Kumar Rajwanshi, Addl Cit Dr Date Of Hearing: 10.02.2025 Date Of Pronouncement: 22.04.2025 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 Under Section 250 Of The Income Tax Act, 1961 On 21.08.2023. The Grounds Of Appeal Are As Under:- “1. Because The Cit (A) Has The Erred On Facts & In Law In Upholding The Disallowance Of Rs.2,47,02,865/- On Account Of Loss In Trading In Derivatives Business Treating The Same As Capital Loss, As Against Assessee'S Claim Of Business Loss, To Be Set Off Against Other Business Income, Which Order Is Contrary To Facts, Bad In Law, The Disallowance Made By The Ao & Upheld Be Deleted. 2. Because On A Proper Consideration Of The Facts & Circumstances Of The Case & Also On The Interpretation Of The Provisions Of Sec 43(5), It Would Be Found The Loss Of Rs.2,47,02,865/- On Account Of Trading In Derivative Is Neither A Speculative Loss Nor A Capital Loss, The Same Should Ought To Be Set Off Against Other Business Income, The Cit (A) Has Erred, In Treating The Same As Short Term Capital Loss.

Loss, the same be set off against term Capital gains of the current year and be allowed to carry forward to be set off against future Capital gains. 6. Because the CIT (A) has erred on facts and in law in upholding the disallowance

M/S SHIVANSH INFRAESTATE PVT.LTD.,LUCKNOW vs. DY. CIT RANGE-6, LUCKNOW

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

Bench: Sh. Sudhanshu Srivastava & Sh. Nikhil Choudharya.Y. 2015-16 M/S Shivansh Infraestate Pvt. Ltd., Vs. The Deputy Commissioner Of 3Rd Floor, Block-A, Surajdeep Income Tax, Range-6, 3Rd Floor, Complex, 1-Jopling Road, 27/2, Raja Ram Mohan Rai Marg, Lucknow-226001 P.K. Complex, Lucknow Pan: Aaqcs5896P (Appellant) (Respondent) Assessee By: Sh. Shubham Rastogi, C.A. Revenue By: Sh. Neeraj Kumar, Cit Dr Date Of Hearing: 20.11.2025 Date Of Pronouncement: 13.02.2026 O R D E R Per Nikhil Choudhary, A.M.: This Is An Appeal Filed By The Assessee Against The Orders Of The Ld. Cit(A), Nfac Passed Under Section 250 Of The Income Tax Act, 1961 On 18.01.2024 Wherein The Ld. Cit(A) Has Partly Allowed The Appeals Of The Assessee Against The Orders Of The Ld. Assessing Officer Dated 30.12.2017. The Grounds Of Appeal Are As Under:- “1- The Ld. Cit (A) Nfac Erred On Facts & In Law In Dismissing The Ground That Notice U/S 143(2) Was Issued By Ito-6(1) Lucknow On 01.04.2016 Without Appreciating That Jurisdiction Of Case Lies With Dcit, Range-6, Lucknow, Hence The Notice Issued By Ito-6(1) Is Without Jurisdiction & Invalid. Further, No Notice U/S 143(2) Has Been Issued By Jurisdictional Dcit, Range-Vi, Lucknow Within The Period As Per Section 143(2) Of L. T. Act. Hence The Present Assessment Is Invalid, Bad In Law & Liable To Be Quashed. 2- The Ld. C.I.T. (A) Upheld The Addition Without Appreciating That Ld. A. O. Rejected The Books Of Account & Instead Of Estimating The Net Profit, Additions Were Made On The Basis Of Same Books Of Account By Disallowing Expenses Under Different Heads Total Rs. 1,75,91,607/- & Addition U/S 68 R. W. S. 115Bbe Of I. T. Act For Rs. 1,32,78,833/- Which Is Contrary To The Provisions Of Law.

carry forward to the subsequent year as per the provision of section 72. 7. On the issue of commission that had been incorporated as a project development expenditure under the head, “current assets” and allocated to profit and loss accounts in the ratio of per square feet of land sold, the ld. CIT(A) held that since the assessee could

ITO-6(1), LUCKNOW vs. M/S U.P. STATE MINERAL DEVELOPMENT CORPORATION LTD.,, LUCKNOW

Bench: Hon’Ble Shri G. D. Padmahshali & Shri Subhash Malguriaआयकर अपील सं. / Ita No.261/Lkw/2020 निर्धारण वर्ा / Assessment Year : 2007-08 The Income Tax Officer Ward-6(1), Lucknow . . . . . . . अपीलार्थी / Appellant

carried out. 15. It is well settled law that any item of allowance/deduction or disallowance which requires no examination or verification of facts falls within the ambit of ITAT-Lucknow Page 8 of 9 ITO Vs U.P. State Mineral Development Crop. Ltd. ITA No.261/LKW/2020 AY:2007-08 ‘mistake apparent on record’ for the purpose of section

CO-OPERATIVE CANE DEVELOPMENT UNIAN, LTD. ,LAKHIPUR KHERI vs. ITO WARD-3(4), LAKHIPUR-1

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

Bench: Shri Anadee Nath Misshra

loss is claimed was furnished beyond the due date specified under sub-section (1) of section 139; (iv) Disallowance of expenditure indicated in the audit report but not taken into account in computing the total income in the return; (v) Disallowance of deduction claimed under section 10AA, 80-IA, 80IAB, 80-IB, 80IC, 80ID or section

CO-OP-CANE DEVELOPMENT UNION GOLA,LAKHIMPUR KHERI vs. ITO RANGE-3(4), LAKHIMPUR KHERI-1

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

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguriaco-Op Cane Development The Income Tax Officer, V. Union Gola Range-3(4) C/O Ayyubi Chamber, Raniganj, Lakhimpur Kheri-262701. Lakhimpur Kheri-262701, Up. Pan:Aaaac1960A (Appellant) (Respondent) Appellant By: Shri Shubham Rastogi, C.A. Respondent By: Shri Manu Chaurasia, Cit(Dr) Date Of Hearing: 15 10 2024 Date Of Pronouncement: 24 10 2024 O R D E R

loss is claimed was furnished beyond the due date specified under sub-section (1) of section 139; (iv) Disallowance of expenditure indicated in the audit report but not taken into account in computing the total income in the return; (v) Disallowance of deduction claimed under section 10AA, 80-IA, 80IAB, 80-IB, 80IC, 80ID or section

NAUSHEEN FARAH,KANPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-II, KANPUR

In the result, all the appeals of the assessees are partly allowed

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

carried out through penny scripts companies/paper companies?" I.T.A. No.61 to 65/Lkw/2021 Assessment year:2012-13 30 2. We take notice of the fact that the issue in the present appeal is whether the assessee earned long term capital gain through transactions with bogus companies. In this regard, the finding of fact recorded by the Tribunal in paras

MARGHOOB ALAM,KANPUR vs. DCUT, CC-II, KANPUR, KANPUR

In the result, all the appeals of the assessees are partly allowed

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

carried out through penny scripts companies/paper companies?" I.T.A. No.61 to 65/Lkw/2021 Assessment year:2012-13 30 2. We take notice of the fact that the issue in the present appeal is whether the assessee earned long term capital gain through transactions with bogus companies. In this regard, the finding of fact recorded by the Tribunal in paras

SHAHEEN RABIA,KANPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE -II, KANPUR

In the result, all the appeals of the assessees are partly allowed

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

carried out through penny scripts companies/paper companies?" I.T.A. No.61 to 65/Lkw/2021 Assessment year:2012-13 30 2. We take notice of the fact that the issue in the present appeal is whether the assessee earned long term capital gain through transactions with bogus companies. In this regard, the finding of fact recorded by the Tribunal in paras

NISHAT ARA,KANPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-II, KANPUR

In the result, all the appeals of the assessees are partly allowed

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

carried out through penny scripts companies/paper companies?" I.T.A. No.61 to 65/Lkw/2021 Assessment year:2012-13 30 2. We take notice of the fact that the issue in the present appeal is whether the assessee earned long term capital gain through transactions with bogus companies. In this regard, the finding of fact recorded by the Tribunal in paras

ZAIN ALAM,KANPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- II, KANPUR

In the result, all the appeals of the assessees are partly allowed

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

carried out through penny scripts companies/paper companies?" I.T.A. No.61 to 65/Lkw/2021 Assessment year:2012-13 30 2. We take notice of the fact that the issue in the present appeal is whether the assessee earned long term capital gain through transactions with bogus companies. In this regard, the finding of fact recorded by the Tribunal in paras

KISAN SAHKARI CHINI MILLS LIMITED ,SHAHJAHANPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1, LUCKNOW

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

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguriaassessment Year:2009-10

Carried forward losses A. Y. 2002-03 Rs.5,49,38,415/- A.Y. 2003-04 Rs. 2,67,76,770/- Total adjusted loss Rs.8,17,15,185/- Assessed Income NIL (B.2) The assessee filed fresh appeal against the aforesaid assessment order dated 27/06/2016 in the office of the learned CIT(A) who passed the impugned appellate order dated 19/09/2017. In this

AGMOTEX FABRICS LTD.,KANPUR vs. DY. COMMISSIONER OF INCOME TAX, RANGE-6, KANPUR

In the result, the appeal of the assessee is allowed

Bench: Shri Kul Bharat & Shri Nikhil Choudharyassessment Year: 2005-06 Agmotex Fabrics Ltd V. The Dy. Commissioner 3/239 Vishnupuri, Kanpur- Of Income Tax, Range-6 208002. Aayakar Bhawan, 16/69, Civil Lines, Kanpur- 208001. Pan:Aabca6099H (Appellant) (Respondent) Appellant By: Shri Rakesh Garg, Advocate Respondent By: Shri R. R. N. Shukla, Addl. Cit (Dr) Date Of Hearing: 23 02 2026 Date Of Pronouncement: 15 04 2026 O R D E R

disallowances made and not on account of any concealment of the1 particulars of the income or furnishing of inaccurate particulars of the income, as such, the provisions of section 271(1)(c) being not applicable, the authorities below have erred in imposing the penalty of Rs.1,26,065/-, which penalty being bad in law be deleted. 05. Because there being

U.P CIVIL SECRETARIAT PRIMARY COOPERATIVE BANK LIMITED,LUCKNOW vs. ADDL. COMMISSIONER OF INCOME TAX (TDS), LUCKNOW

In the result, all the appeals are partly allowed for statistical purposes

Bench: Shri Kul Bharat & Shri Anadee Nath Misshra

carry forward of losses claimed by the assessee. 5.1 Because the learned 1st appellate authority ought not to have disallowed