DY. COMMISSIONER OF INCOME TAX, LUCKNOW vs. M/S U.P RAJKIYA NIRMAN NIGAM LTD., LUCKNOW

In the result, the appeal of the assessee is allowed and the appeal of the Department is dismissed

Bench: Shri. A. D. Jain & Shri T. S. Kapoorassessment Year: 2010-11 Uttar Pradesh Rajkiya Nirman V. Dcit Nigam Limited Range Vi Vishweshariya Bhawan Lucknow Vibhuti Khand, Gomti Nagar Lucknow Tan/Pan:Aaacu5701F (Appellant) (Respondent) Assessment Year: 2010-11 Dcit V. Uttar Pradesh Rajkiya Nirman Nigam Range Vi Limited Lucknow Vishweshariya Bhawan Vibhuti Khand, Gomti Nagar Lucknow Tan/Pan:Aaacu5701F (Appellant) (Respondent) Assessee By: Shri K. R. Rastogi, Fca Department By: Shri A. K. Bar, Cit (Dr) Date Of Hearing: 30 04 2019 Date Of Pronouncement: 17 05 2019 O R D E R Per A. D. Jain, V.P.: These Cross-Appeals Are Preferred By The Assessee As Well As The Revenue Against The Order Of The Ld. Cit(A)-Ii, Lucknow, Dated 10/3/2017 For The Assessment Year 2010-11. 2. The Sole Ground Of Appeal, Taken By The Assessee In Its Appeal In Ita No.314/Lkw/2017 Is, As Follows:-

disallowance is uncalled for as the expenditure incurred is part of the computation under section 28 of the Act and the section 40(a)(ia) of the Act can be resorted to only in case of expenses being incurred under section 30

DY. COMMISSIONER OF INCOME TAX, RANGE-6, LUCKNOW vs. M/S U.P RAJKIYA NIRMAN NIGAM LTD., LUCKNOW

In the result, the appeal of the assessee is allowed and the appeal of the Revenue stands dismissed

Bench: Shri. A. D. Jain & Shri T. S. Kapoorassessment Year: 2013-14 Uttar Pradesh Rajkiya Nirman V. The Dy. Cit Nigam Ltd. Range Vi Visheshwaraiya Bhawan Lucknow Vibhuti Khand, Gomti Nagar Lucknow Tan/Pan:Aaacu5701F (Appellant) (Respondent) Assessment Year: 2013-14 The Dy. Cit V. Uttar Pradesh Rajkiya Nirman Range Vi Nigam Ltd. Lucknow Visheshwaraiya Bhawan Vibhuti Khand, Gomti Nagar Lucknow Tan/Pan: Aaacu5701F (Appellant) (Respondent) Assessee By: Shri K. R. Rastogi, C.A. Department By: Smt. Sheela Chopra, Cit (Dr) Date Of Hearing: 04 10 2021 Date Of Pronouncement: 14 12 2021 O R D E R

disallowance of an expenditure claimed under section 30 to section 38 of the Act; no such exclusion is envisaged in section

M/S U.P RAJKIYA NIRMAN NIGAM LTD.,LUCKNOW vs. DY. COMMISSIONER OF INCOME TAX, RANGE-6, LUCKNOW

In the result, the appeal of the assessee is allowed and the appeal of the Revenue stands dismissed

Bench: Shri. A. D. Jain & Shri T. S. Kapoorassessment Year: 2013-14 Uttar Pradesh Rajkiya Nirman V. The Dy. Cit Nigam Ltd. Range Vi Visheshwaraiya Bhawan Lucknow Vibhuti Khand, Gomti Nagar Lucknow Tan/Pan:Aaacu5701F (Appellant) (Respondent) Assessment Year: 2013-14 The Dy. Cit V. Uttar Pradesh Rajkiya Nirman Range Vi Nigam Ltd. Lucknow Visheshwaraiya Bhawan Vibhuti Khand, Gomti Nagar Lucknow Tan/Pan: Aaacu5701F (Appellant) (Respondent) Assessee By: Shri K. R. Rastogi, C.A. Department By: Smt. Sheela Chopra, Cit (Dr) Date Of Hearing: 04 10 2021 Date Of Pronouncement: 14 12 2021 O R D E R

disallowance of an expenditure claimed under section 30 to section 38 of the Act; no such exclusion is envisaged in section

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

In the result, appeals vide I

disallowance under section 14A read with Rule 8D was made\nsolely on the basis of investment by Assessee Company in SPVs without\nverifying objects of investment and understanding of relevant provision of law.\nIt is also submitted that section 14A carries heading 'Expenditure\nincurred in relation to income not includible in total income'\n\nAs per Section

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

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

section 14A r.w.r 8D do not draw any relation to such expenditures in relation to exempt. 2. The Ld. CIT (A) has erred in law and on facts as the assessee invested a substantial amount of Rs.187 Cr. in group companies/sister concerns which entail disallowances to be computed as per the provision of 14A of the I.T. Act read with

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

30 amendment of section 14A of the Act, reproduced below for the ease of reference: “[Explanation.—For the removal of doubts, it is hereby clarified that notwithstanding anything to the contrary contained in this Act, the provisions of this section shall apply and shall be deemed to have always applied in a case where the income, not forming part

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

30 amendment of section 14A of the Act, reproduced below for the ease of reference: “[Explanation.—For the removal of doubts, it is hereby clarified that notwithstanding anything to the contrary contained in this Act, the provisions of this section shall apply and shall be deemed to have always applied in a case where the income, not forming part

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

30 amendment of section 14A of the Act, reproduced below for the ease of reference: “[Explanation.—For the removal of doubts, it is hereby clarified that notwithstanding anything to the contrary contained in this Act, the provisions of this section shall apply and shall be deemed to have always applied in a case where the income, not forming part

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

30 amendment of section 14A of the Act, reproduced below for the ease of reference: “[Explanation.—For the removal of doubts, it is hereby clarified that notwithstanding anything to the contrary contained in this Act, the provisions of this section shall apply and shall be deemed to have always applied in a case where the income, not forming part

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

30 amendment of section 14A of the Act, reproduced below for the ease of reference: “[Explanation.—For the removal of doubts, it is hereby clarified that notwithstanding anything to the contrary contained in this Act, the provisions of this section shall apply and shall be deemed to have always applied in a case where the income, not forming part

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

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.\n6. That the grounds of appeal as pleaded before the Learned CIT(Appeal) are relied upon the appeal before the Hon'ble Member, ITAT.\n7. 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.

disallowance, could be regarded as the satisfaction of the ld. AO for invoking the provisions of section 14A of the Act. Therefore, he held that the ld. AO had rightly invoked the provisions of section 14A of the Act and he dismissed the appeal of the assessee in this regard. On other issues involved in the assessments

VIDYUT TRANSMISSION KARMACHARI VETAN BHOGI CREDIT COOPERATIVE SOCIETY,LUCKNOW vs. CPC BANGALORE/ITO-2(1), LUCKNOW

Appeal of the assessee is partly allowed for statistical

Bench: Shri Kul Bharat & Shri Anadee Nath Misshra

30-11-2020-It was noted that denial of claim under section 80P would not come within purview of prima facie adjustment under section 143(1)(a)(v) for reason that said section was not in force during period under consideration i.e. assessment year 2019-20 Further case of assessee would also not fall within purview of prima facie adjustment

M/S. RUPANI FOOTCARE PRIVATE LIMITED,KANPUR NAGAR vs. ASSISTANT DIRECTOR OF INCOME TAX, CPC, BENGALURU, BENGALURU

In the result, the appeal of the assessee stands allowed

Bench: Shri. A. D. Jain & Shri T. S. Kapoorassessment Year: 2019-20 M/S Rupani Footcare V. The Income Tax Officer Private Limited Ward 2(3)(1) 122/334, Shastri Nagar Kanpur Kanpur Tan/Pan:Aaecr1354B (Appellant) (Respondent) Appellant By: Shri P. K. Kapoor, C.A. Respondent By: Shri Harish Gidwani, D.R. Date Of Hearing: 17 05 2022 Date Of Pronouncement: 30 05 2022 O R D E R

disallow deductions claimed merely by making a book entry based on the mercantile system of accounting. At the same time, Section 43B made it mandatory for the Department to grant deduction in computing income under Section 28 in the year in which tax, duty, cess etc. is actually paid. Parliament took cognizance of the fact that accounting year

DY. COMMISSIONER OF INCOME TAX-6, KANPUR vs. COMMERCIAL ENGINEERS & BODY BUILDERS CO. LTD., KANPUR

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

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

disallowance of additional depreciation of Rs. 9,57,30,050/- is hereby deleted.” 4. Aggrieved, the Revenue is in appeal before us. The ld. D.R. submitted before us that the ld. CIT(A) was not justified to delete the addition of Rs.9,57,30,050/- made on account of wrong claim of additional depreciation, without appreciating the fact that

DY. COMMISSIONER OF INCOME TAX-6, KANPUR vs. COMMERCIAL ENGINEERS & BODY BUILDERS CO. LTD., KANPUR

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

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

disallowance of additional depreciation of Rs. 9,57,30,050/- is hereby deleted.” 4. Aggrieved, the Revenue is in appeal before us. The ld. D.R. submitted before us that the ld. CIT(A) was not justified to delete the addition of Rs.9,57,30,050/- made on account of wrong claim of additional depreciation, without appreciating the fact that

BHAGWANTI RUBBER AND ALLIED PRODUCTS PRIVATE LIMITED,KANPUR vs. ASSISTANT DIRECTOR OF INCOME TAX, CPC, BENGALURU

In the result, the appeal of the assessee stands allowed

Bench: Shri T. S. Kapoor

disallow deductions claimed merely by making a book entry based on the mercantile system of accounting. At the same time, Section 43B made it mandatory for the Department to grant deduction in computing income under Section 28 in the year in which tax, duty, cess etc. is actually paid. Parliament took cognizance of the fact that accounting year

JAGMINI MICRO KNIT PVT. LTD,KANPUR vs. DCIT 2(1)(1), KANPUR

In the result, the appeal of the assessee stands allowed

Bench: Shri. A. D. Jain & Shri T. S. Kapoorassessment Year: 2019-20 Jagmani Micro Knit Pvt. Ltd. V. The Dcit 2, Sarvodaya Nagar Circle 2(1)(1) Kanpur Kanpur Tan/Pan:Aaach3405B (Appellant) (Respondent) Appellant By: Shri Pradeep Kapoor, C.A. Respondent By: Shri Harish Gidwani, D.R. Date Of Hearing: 03 03 2022 Date Of Pronouncement: 05 04 2022 O R D E R

disallow deductions claimed merely by making a book entry based on the mercantile system of accounting. At the same time, Section 43B made it mandatory for the Department to grant deduction in computing income under Section 28 in the year in which tax, duty, cess etc. is actually paid. Parliament took cognizance of the fact that accounting year