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

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

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

250 dated 27-8-2020\n450-451\n9.\nCopy of Submissions filed before CIT(Appeals)\n452-476\n(A.3) Written submissions were filed from Revenue side, relevant portion of\nwhich is reproduced as under:\nBEFORE THE HON'BLE.. MEMBERS\nINCOME TAX APPELLATE TRIBUNAL\nA-BENCH, LUCKNOW\nIn the case of\n: M/s. APCO Infratech (P) Ltd.\nAppeal

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

250 dated 27-8-2020\n450-451\n\n9.\nCopy of Submissions filed before CIT(Appeals)\n452-476\n\n(A.3) Written submissions were filed from Revenue side, relevant portion of\nwhich is reproduced as under:\n\nBEFORE THE HON'BLE.. MEMBERS\nINCOME TAX APPELLATE TRIBUNAL\nA-BENCH, LUCKNOW\nIn the case of\nAppeal No\n Assessment Year\nDate

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

In the result, appeals vide I

250 dated 27-8-2020\n450-451\n9.\nCopy of Submissions filed before CIT(Appeals)\n452-476\n\n(A.3) Written submissions were filed from Revenue side, relevant portion of\nwhich is reproduced as under:\n\nBEFORE THE HON'BLE.. MEMBERS\nINCOME TAX APPELLATE TRIBUNAL\nA-BENCH, LUCKNOW\n\nIn the case of\nAppeal No\n Assessment Year\nDate

M/S CANE DEVELOPMENT COUNCIL CHILWARIA, BRH, C/O AYYUBI CHAMBER , RANIGANJ, LAKHIMPUR KHERI-262802,LAKHIMPUR KHERI vs. THE INCOME TAX OFFICER-1, BAHRAICH

Bench: Hon’Ble Shri G. D. Padmahshali & Shri Subhash Malguriaआयकर अपील सं. / Ita No. 186/Lkw/2023 निर्धारण वर्ा / Assessment Year : 2014-15 Cane Development Council Chilwaria, Brh C/O. Ayyubi Chamber, Raniganj, Lakhimpur Kheri, Up-262802. Pan: Aaatc6087H . . . . . . . अपीलार्थी / Appellant

disallowance & addition on merits conclusive giving independent findings in terms of s/s (6) of section 250 of the Act. In these

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

BHAWANI DEVELOPERS,LUCKNOW vs. INCOME TAX OFFICER-4(1), LUCKNOW-NEW, LUCKNOW-NEW

Appeal is disposed of in accordance with the aforesaid\ndirections

disallowed by invoking provisions of section 40(a)(ia) of the act and\nadded to the total income of the assessee.\n3.8.6 In view of above stated facts, I am satisfied that the assessee has under reported its\nincome by misreporting. Hence penalty proceedings u/s 270A are initiated separately for\nunder reporting of income in consequences of misreporting.\n3.9\nVariation

KAPIL DEO TRIPATHI,LUCKNOW vs. DCIT CIRCLE-4 LUCKNOW, LUCKNOW

Bench: Hon’Ble Shri G. D. Padmahshali & Shri Subhash Malguriaआयकर अपील सं. / Ita No.231/Lkw/2023 निर्धारण वर्ा / Assessment Year : 2016-17 Kapil Dev Tripathi C-2395, Raja Ji Puram, Lucknow, Up-226017 Pan: Abzpt7328G . . . . . . . अपीलार्थी / Appellant बिधम / V/S. Asstt Commissioner Of Income Tax Acit/Dcit-4, Lucknow . . . . . . . प्रत्यर्थी / Respondent द्वधरध / Appearances Assessee By : Mr Prashant Kr. Verma [‘Ld. Ar’] Revenue By : Mr Sunil Kumar Rajwanshi [‘Ld. Dr’] सुनवाई की तारीख / Date Of Conclusive Hearing : 24/06/2024 घोषणा की तारीख / Date Of Pronouncement : 24/06/2024 आदेश / Order Per G. D. Padmahshali, Am; Against The Ex-Parte Din & Order Itba/Nfac/S/250/2023- 24/1053079897(1) Dt. 23/05/2023 Passed U/S 250 Of The Act By The National Faceless Appeal Centre, Delhi [‘Nfac/ Cit(A)’ Hereinafter] The Assessee Came In Appeal U/S 253(1)(A) Of The Income Tax Act [‘The Act’ Hereinafter].

disallowance was triggered owning to non- deduction of taxes at source [‘TDS’ hereinafter’] and later was on account of non-production of bills/invoices which remained unproved u/s 37(1) of the Act. The appellant was continued to be static in the matter of non-compliance in the first appellate proceedings as well, so is the result. ITAT-Lucknow Page

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

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, 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

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

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

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

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

M/S PRAMOD TELECOM PVT.LTD.,LUCKNOW vs. DCIT/ACIT-3, LUCKNOW

In the result, in ITA. No

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

250 of the Income Tax Act for the assessment years 2018-19 and 2020-21 dated 11.10.2022 and 7.10.2022, respectively. In both cases, the ld. CIT(A) has dismissed the appeals of the assessee against the orders passed by the ld. AO under section 154 r.w.s. 143(1) for the assessment year 2018-19 and under section

M/S PRAMOD TELECOM PVT.LTD.,LUCKNOW vs. DCIT/ACIT-3, LUCKNOW

In the result, in ITA. No

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

250 of the Income Tax Act for the assessment years 2018-19 and 2020-21 dated 11.10.2022 and 7.10.2022, respectively. In both cases, the ld. CIT(A) has dismissed the appeals of the assessee against the orders passed by the ld. AO under section 154 r.w.s. 143(1) for the assessment year 2018-19 and under section