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) of IT Act 1961, without appreciating that there was 'reasonable cause' for the said failure as per the provisions of Section 273B of the Act 1961.\n5. That the grounds of appeal as pleaded before the Learned CIT (Appeal) are relied upon the appeal before the Hon'ble Member, IITAT.\n6. That

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\n5. That the grounds of appeal as pleaded before the Learned CIT\n(Appeal) are relied upon the appeal before the Hon'ble Member,\nIITAT

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.\n5. That the grounds of appeal as pleaded before the Learned CIT\n(Appeal) are relied upon the appeal before the Hon'ble Member,\nIITAT.\n6. That

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.\n5.\nThat the grounds of appeal as pleaded before the Learned CIT\n(Appeal) are relied upon the appeal before the Hon'ble Member,\nIITAT.\n6.\nThat

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

disallowances to\nthe extent of Rs.59619661/-\nremaining deduction of Rs.\n3164146/- is sustained\nconsidering the earlier order of\nCIT(A) dt. 19/12/2023.\n[Para 8.16 Page 102]\nAppeal filed by\nAssessee\nITA\n17/LKW/2024 &\nCO1/LKW/2025\n07.01.2025 along\nwith other legal\ngrounds.\n\n(A.2) In the course of appellate proceedings in Income Tax Appellate Tribunal\n(\"ITAT\" for short), separate paper

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

Bench: Shri Sudhanshu Srivastava & Shri Anadee Nath Misshra

disallowance of LTC/LTA under section 10(5) of IT Act 1961, without appreciating that there was 'reasonable cause' for the said failure as per the provisions of Section 273B of the Act 1961. 5. That the grounds of appeal as pleaded before the Learned CIT (Appeal) are relied upon the appeal before the Hon'ble Member, IITAT. 6. That

M/S FIVE ROSES,KANPUR vs. DY, CIT-CC-1, KANPUR

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

Bench: Shri. Sudhanshu Srivastava & Shri Anadee Nath Misshra

disallowance of interest on unsecured loan. 6. BECAUSE on the facts and in the circumstances of the case, the Id."CIT(A)" should have directed the AO to drop the penalty proceedings initiated u/s 270A of the Act. 7. BECAUSE the order appealed against is contrary to facts, law and principles of natural justice. 8. BECAUSE each ground taken

M/S FIVE ROSES,KANPUR vs. DY, CIT-CC-1, KANPUR

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

Bench: Shri. Sudhanshu Srivastava & Shri Anadee Nath Misshra

disallowance of interest on unsecured loan. 6. BECAUSE on the facts and in the circumstances of the case, the Id."CIT(A)" should have directed the AO to drop the penalty proceedings initiated u/s 270A of the Act. 7. BECAUSE the order appealed against is contrary to facts, law and principles of natural justice. 8. BECAUSE each ground taken

M/S FIVE ROSES,KANPUR vs. J/DCIT-CC,, KANPUR

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

Bench: Shri. Sudhanshu Srivastava & Shri Anadee Nath Misshra

disallowance of interest on unsecured loan. 6. BECAUSE on the facts and in the circumstances of the case, the Id."CIT(A)" should have directed the AO to drop the penalty proceedings initiated u/s 270A of the Act. 7. BECAUSE the order appealed against is contrary to facts, law and principles of natural justice. 8. BECAUSE each ground taken

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.

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 and 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

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)

5. Aggrieved, assessee preferred appeal before the ld. CIT(A), who partly allowed the appeal of the assessee. The Revenue is in further appeal before this Tribunal against the deletion of disallowance of claim of deduction of Rs.4,68,60,927/- under section 80IA of the Act. 6. The facts relating to the claim of deduction under section 80IA

PREM CHAND YADAV,LUCKNOW vs. ASSISTANT COMMISSIONER OF INCOME TAX-1, LUCKNOW - NEW

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

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguriaassessment Year: 2017-18 Prem Chand Yadav V. The Acit-1 1/374, Sector 1 Lucknow Gomti Nagar Extension Gomti Nagar, Lucknow Pan:Abqpy1283Q (Appellant) (Respondent) Appellant By: None Respondent By: Dr Preeti Singh, D.R. Date Of Hearing: 01 07 2024 Date Of Pronouncement: 02 07 2024 O R D E R

disallowance u/s 68 is uncalled for and hence may very kindly be deleted. 3. None has appeared for the Assessee despite issuance of Notice through RPAD, which Notice has not returned unserved. However, finding that the matter can be decided in the absence of the Assessee, we have decided to dispose of the appeal after hearing

PAHARI MATA SAHKARI AWAS SAMITI LTD,LUCKNOW vs. ACIT REANG-1, LUCKNOW

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

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguriaassessment Year: 2015-16 Pahari Mata Sahkari Awas Samiti Ltd. V. The Assistant 761, Village – Anaura Commissioner Of Near Indira Canal Income Tax Faizabad Road, Lucknow Range-I, Lucknow Pan:Aabap6918L (Appellant) (Respondent) Appellant By: Shri Shubham Rastogi, Ca Respondent By: Shri Sanjeev Krishna Sharma, Dr Date Of Hearing: 18 04 2024 Date Of Pronouncement: 18 04 2024 O R D E R

disallowing excess Interest of 6% out of 18% paid on Unsecured Loans which were used solely and exclusively for the purpose of business as per business needs. 8. The Ld. CIT (A) erred on facts and in law in upholding the incorrect finding of Ld. A. O. that Unsecured Loan has been received from the related parties and not shown

ROHILKHAND EDUCATIONAL CHARITABLE TRUST,BAREILLY vs. DCIT, CENTRAL CIRCLE, BAREILLY

In the result, both appeals of the assessee in ITA No

250 of the Income Tax Act, 1961, for the A.Ys.2017-18 and 2018-19,\ndismissing the appeals of the assessee against orders passed by the Assessing\nOfficer under section 143(3) of the Income Tax Act, 1961. The grounds of appeal\nare as under:-\n\nITA No.181/LKW/2024\n“(1).That the Ld. Authorities below have erred

DCIT, RANGE-6, LUCKNOW vs. M/S. U.P. STATE SUGAR CORPORATION LTD.,, LUCKNOW

In the result, the appeals of the Revenue are dismissed and the appeal of the assessee is partly allowed for statistical purposes

Bench: Shri Kul Bharat & Shri Anadee Nath Misshra

250(SC). Hon'ble Punjab & Haryana High Court in the case reported at CIT vs. Hero Cycles Limited [2010] 323 ITR 518 and in CIT vs. Winsome Textile Industries Ltd. [2009] 319 ITR 204 has also taken similar view holding that section 14A cannot be invoked when no exempt income was earned. Same view has also been taken

U.P. STATE SUGAR CORPORATION LTD.,LUCKNOW vs. DCIT, RANGE-VI, LUCKNOW

In the result, the appeals of the Revenue are dismissed and the appeal of the assessee is partly allowed for statistical purposes

Bench: Shri Kul Bharat & Shri Anadee Nath Misshra

250(SC). Hon'ble Punjab & Haryana High Court in the case reported at CIT vs. Hero Cycles Limited [2010] 323 ITR 518 and in CIT vs. Winsome Textile Industries Ltd. [2009] 319 ITR 204 has also taken similar view holding that section 14A cannot be invoked when no exempt income was earned. Same view has also been taken

DCIT, LUCKNOW vs. M/S U.P. STATE SUGAR CORPORATION LTD., LUCKNOW

In the result, the appeals of the Revenue are dismissed and the appeal of the assessee is partly allowed for statistical purposes

Bench: Shri Kul Bharat & Shri Anadee Nath Misshra

250(SC). Hon'ble Punjab & Haryana High Court in the case reported at CIT vs. Hero Cycles Limited [2010] 323 ITR 518 and in CIT vs. Winsome Textile Industries Ltd. [2009] 319 ITR 204 has also taken similar view holding that section 14A cannot be invoked when no exempt income was earned. Same view has also been taken

DCIT, LUCKNOW vs. M/S U.P. STATE SUGAR CORPORATION LTD., LUCKNOW

In the result, the appeals of the Revenue are dismissed and the appeal of the assessee is partly allowed for statistical purposes

Bench: Shri Kul Bharat & Shri Anadee Nath Misshra

250(SC). Hon'ble Punjab & Haryana High Court in the case reported at CIT vs. Hero Cycles Limited [2010] 323 ITR 518 and in CIT vs. Winsome Textile Industries Ltd. [2009] 319 ITR 204 has also taken similar view holding that section 14A cannot be invoked when no exempt income was earned. Same view has also been taken