STATE BANK OF INDIA, OVERSEAS BRANCH,KANPUR vs. ACIT(TDS), KANPUR

In the result, all the appeals of the assessee are dismissed

disallowance of LTC/LTA under section 10(5)\nof IT Act 1961, without appreciating that there was 'reasonable\ncause' for the said failure as per the provisions of Section 273B\nof the Act 1961.\n6.\nThat the grounds of appeal as pleaded before the Learned\nCIT(Appeal) are relied upon the appeal before the Hon'ble\nMember, ITAT.\n7.\nThat

BRANCH MANAGER STATE BANK OF INDIA, REGIONAL BUSINESS OFFICE, ADMINISTRETIVE OFFICE,KANPUR vs. ACIT (TDS), KANPUR

In the result, all the appeals of the assessee are dismissed

disallowance of LTC/LTA under section 10(5)\nof IT Act 1961, without appreciating that there was 'reasonable\ncause' for the said failure as per the provisions of Section 273B\nof the Act 1961.\n\n6. That the grounds of appeal as pleaded before the Learned\nCIT(Appeal) are relied upon the appeal before the Hon'ble\nMember, ITAT

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

In the result, the appeal of the assessee is dismissed

133\nFurther, taking % % of investments as per Rule 8D(2)(iii), the expenditure on\naverage investment comes to Rs.1,24,075/which would be disallowed also.\nHence, the total disallowance as per provisions of Section

SMT. SABREEN,KANPUR vs. INCOME TAX OFFICER-3(4), KANPUR

In the result, the appeal of the assessee stands partly allowed and Stay Application is dismissed as infructuous

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

disallowed the claim of the assessee solely on the basis of a report from investigation department of Revenue. However, in that investigation report, neither the name of the assessee nor the name of broker of the assessee has been mentioned. Though the authorities below have relied on the statement ot certain broker and other persons, the name of the broker

GOLDEN COMTRADE PRIVATE LIMITED,KANPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX-5, KANPUR, KANPUR

In the result, appeal filed by the assessee is partly allowed

Bench: Shri A.D. Jain & Shri T. S. Kapoorassessment Year: 2013-14 Golden Comtrade Private Limited, Vs. Acit-5, 58/43, Birhana Road, Kanpur Kanpur-208001 Pan: Aaccg 1622R (Appellant) (Respondent)

disallowances as made by the Ld. Assessing Officer: a) Rs. 95,000/- -- Addition/Disallowance U/s 14A read with Section 8(2)(iii) b) Rs. 97,133

INCOME TAX OFFICER-3(4), KANPUR vs. SHRI SANTOSH KUMAR AGARWAL, KANPUR

In the result, the appeal of the Revenue is dismissed

Bench: Shri T. S. Kapoor

section of the IT Act. Hon'ble Allahabad High Court in the case of CIT vs. Udit Narain Agarwal vide judgment and order dated 12.12.2012 in ITA 560 of 2009 wherein their lordships after enumerating various material and information as had been placed on record by the assesses with regard to one such penny stock transaction, has further observed

INCOME TAX OFFICER-1(3), KANPUR vs. SHRI RAJ KUMAR AGARWAL, KANPUR

In the result, both the appeals of the Revenue are dismissed

Bench: Shri T.S. Kapoor

section of the IT Act. Hon'ble Allahabad High Court in the case of CIT vs. Udit Narain Agarwal vide judgment and order dated 12.12.2012 in ITA 560 of 2009 wherein their lordships after enumerating various material and information as had been placed on record by the assesses with regard to one such penny stock transaction, has further observed

INCOME TAX OFFICER, LUCKNOW vs. RAJEEV KUMAR KAPOOR, LUCKNOW

In the result, the appeal of the Revenue is dismissed

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

133(6) of the Income Tax Act to eight parties, out of which only three parties had submitted their responses. The assessee was therefore, required to furnish confirmations from the remaining parties or suffer an addition of Rs.06,93,81,546/-. The ld. AO did not describe the response of the assessee to the said show cause notice but pointed

ASTT. COMMISIONER OF INCOME TAX, LUCKNOW vs. M/S APCO INFRATECH PVT. LTD., LUCKNOW

In the result, appeal of the Revenue and Cross Objection of the assessee are dismissed, as indicated above

Bench: Shri G. D. Padamahshali & Shri Subhash Malguriaassessment Year: 2014-15 The Asstt. Commissioner V. M/S Apco Infratech Pvt. Ltd Of Income Tax B-9, Vibhuti Khand Central Circle Ii Gomti Nagar Lucnow Lucknow Pan:Aadca5639H (Appellant) (Respondent) C.O. No.19/Lkw/2017 [In Ita No.66/Lkw/2017] Assessment Year: 2014-15 M/S Apco Infratech Pvt. Ltd V. The Asstt. Commissioner Of B-9, Vibhuti Khand Income Tax Gomti Nagar Central Circle Ii Lucknow Lucnow Pan:Aadca5639H (Cross Objector) (Respondent)

133 of the Act were also carried out at many premises belonging to the assessee group and its business Associates. The Assessing Officer issued notice under section 142(1) of the Act requiring the assessee to file its return of income. The assessee e-filed its return of income on 28.11.2014 declaring a total income of Rs.61

ACIT, RANGE-I, LUCKNOW vs. SHRI YOGESH MULWANI, LUCKNOW

In the result, the appeal of the Revenue stands dismissed

Bench: Shri. A. D. Jain & Shri T. S. Kapoorassessment Year: 2016-17 The Asstt. Cit V. Shri Yogesh Mulwani Range 1 36, Cantonment Road Lucknow Lucknow Tan/Pan:Ahnpm4669B (Appellant) (Respondent) Appellant By: Shri Harish Gidwani, D.R. Respondent By: Shri K.R. Rastogi, C.A. Date Of Hearing: 19 05 2022 Date Of Pronouncement: 01 06 2022 O R D E R

disallowability of any deduction, as section 68, which is a deeming provision, is applicable only when any sum is found credited in the books of the assessee and the assessee is not able to explain the nature and source of such credit. The ld. Counsel for the assessee has also placed reliance on the following case laws

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

disallowing share loss by the AO affirmed by the Commissioner of Income Tax(Appeals) were those that out of the four blocks of shares delivery of three blocks were received after five months and the price was also paid after five months, but were immediately sold at a loss. The other grounds were that the share broker only in respect

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

disallowing share loss by the AO affirmed by the Commissioner of Income Tax(Appeals) were those that out of the four blocks of shares delivery of three blocks were received after five months and the price was also paid after five months, but were immediately sold at a loss. The other grounds were that the share broker only in respect

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

disallowing share loss by the AO affirmed by the Commissioner of Income Tax(Appeals) were those that out of the four blocks of shares delivery of three blocks were received after five months and the price was also paid after five months, but were immediately sold at a loss. The other grounds were that the share broker only in respect

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

disallowing share loss by the AO affirmed by the Commissioner of Income Tax(Appeals) were those that out of the four blocks of shares delivery of three blocks were received after five months and the price was also paid after five months, but were immediately sold at a loss. The other grounds were that the share broker only in respect

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

disallowing share loss by the AO affirmed by the Commissioner of Income Tax(Appeals) were those that out of the four blocks of shares delivery of three blocks were received after five months and the price was also paid after five months, but were immediately sold at a loss. The other grounds were that the share broker only in respect

SHRI UMA SHANKER DHANDHANIA,KANPUR vs. INCOME TAX OFFICER - 1(5), KANPUR

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

disallowed, the order passed by the CIT(A) is bad in law. 6. Because the authorities below have failed to appreciate that the statements of the brokers relied upon, both by the Assessing Officer and by the CIT(A), recorded at the back of the appellant without giving the appellant any opportunity to confront the same, the additions made

ABDUL HAMEED CHIKWA,KANPUR vs. ACIT, KANPUR

In the result, both the appeals in ITA

sections": [ "143(3)", "271(1)(c)", "80HHC", "133(6)", "131" ], "issues": "Whether the appeals can be continued after the death of the assessee when legal heirs are not brought on record as per the applicable rules. Whether the disallowance

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

133 (6) of the I.T. Act, 1961. In response, all the donors accepted to have given the corpus donation to the trust. From the verification of the replies of the donors it was observed that all the donors are assessed to tax with different assessing officers as well as the donations were given through account payee cheques. Since