M/S. APCO INFRATECH PVT. LTD.,LUCKNOW vs. ACIT-1, LUCKNOW

In the result, appeals vide

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

5) cannot be pressed into service for reading a limitation of the deduction under sub-section (1) only to ‘business income’. An attempt was made by the learned Senior Counsel for the Revenue to rely on the phrase ‘derived … from’ in Section 80-IA (1) of the Act in respect of his submission that the intention of the legislature

ASSTT. COMMISSIONER OF INCOME TAX, CC-1, LUCKNOW, AAYAKAR BHAWAN, ASHOK MARG, LUCKNOW vs. APCO INFRATECH PVT. LTD., VIBHUTI KHAND GOMTI NAGAR LKO

In the result, appeals vide

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

5) cannot be pressed into service for reading a limitation of the deduction under sub-section (1) only to ‘business income’. An attempt was made by the learned Senior Counsel for the Revenue to rely on the phrase ‘derived … from’ in Section 80-IA (1) of the Act in respect of his submission that the intention of the legislature

M/S APCO INFRATECH PVT. LTD.,LUCKNOW vs. D/ACIT-1,CENTRAL-1, LUCKNOW

In the result, appeals vide

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

5) cannot be pressed into service for reading a limitation of the deduction under sub-section (1) only to ‘business income’. An attempt was made by the learned Senior Counsel for the Revenue to rely on the phrase ‘derived … from’ in Section 80-IA (1) of the Act in respect of his submission that the intention of the legislature

M/S U.P STATE INDUSTRIAL DEVELOPMENT CORPORATION LTD.,KANPUR vs. ASTT. COMMISSIONER OF INCOME TAX-VI, KANPUR

In the result, both the appeals of the assessee is held to be partly allowed

5) read with Section 2 (7) of the Act.\n10. BECAUSE in any case the issue with regard to the applicability of charging\nprovisions (as distinct from the applicability of Interest Tax Act, 1974 itself) has\nbeen decided on a wholly wrong premise and the sums aggregating Rs.\n11,75,75,706/- can not be said to be representing \"chargeable

M/S U.P STATE INDUSTRIAL DEVELOPMENT CORPORATION LTD.,KANPUR vs. ASTT. COMMISSIONER OF INCOME TAX-VI, KANPUR

section 8(2) of the Interest Tax Act, 1974 disallowing the exemption A.Ys. 1995-96 & 1996-97 M/s U.P. State Industrial Development Ltd claimed by the assessee under the Interest Tax Act and made the following additions to the chargeable interest of the assessee for the A.Y.1995-96; i. Interest received on deposits Rs. 98,43,985/- ii. Interest received

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

43,101/- u/s 14A of the Act without appreciating the fact that Section 14A does not use the word ‘income of the year’ but ‘income under the act’ and CBDT circular no. 05/2014 dated 11/02/2014 makes it clear that the expenses, which are relatable to earning of exempt income have to be considered for disallowance irrespective of the fact whether

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

43,101/- u/s 14A of the Act without appreciating the fact that Section 14A does not use the word ‘income of the year’ but ‘income under the act’ and CBDT circular no. 05/2014 dated 11/02/2014 makes it clear that the expenses, which are relatable to earning of exempt income have to be considered for disallowance irrespective of the fact whether

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

43,101/- u/s 14A of the Act without appreciating the fact that Section 14A does not use the word ‘income of the year’ but ‘income under the act’ and CBDT circular no. 05/2014 dated 11/02/2014 makes it clear that the expenses, which are relatable to earning of exempt income have to be considered for disallowance irrespective of the fact whether

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

43,101/- u/s 14A of the Act without appreciating the fact that Section 14A does not use the word ‘income of the year’ but ‘income under the act’ and CBDT circular no. 05/2014 dated 11/02/2014 makes it clear that the expenses, which are relatable to earning of exempt income have to be considered for disallowance irrespective of the fact whether

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

43,101/- u/s 14A of the Act without appreciating the fact that Section 14A does not use the word ‘income of the year’ but ‘income under the act’ and CBDT circular no. 05/2014 dated 11/02/2014 makes it clear that the expenses, which are relatable to earning of exempt income have to be considered for disallowance irrespective of the fact whether

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.

section 43(5) can now be set off against any other income of the year and also carried forward for set off against any other income of the subsequent year. The two case laws relied upon by the Ld AR essentially reaffirm this principle. Thus, we note that in the given facts and circumstances of the case, the decision

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, BAREILLY, BAREILLY vs. VARUNARJUN TRUST, LUCKNOW

In the result, both the appeals are dismissed

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

disallowed despite the assessee having been engaged in the education activities, duly registered under section 12A of he Act. (ii) That the above exemption has been denied invoking the provisions of section 13(3) of the Act, without giving any specific findings in this regard. Page 18 of 87 I.T.A. No.619 & 620/Lkw/2024 Assessment year:2015-16 & 16-17 4.1 Section

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

disallowed despite the assessee having been engaged in the education activities, duly registered under section 12A of he Act. (ii) That the above exemption has been denied invoking the provisions of section 13(3) of the Act, without giving any specific findings in this regard. Page 18 of 87 I.T.A. No.619 & 620/Lkw/2024 Assessment year:2015-16 & 16-17 4.1 Section

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

43 hrs on 01.11.2019. Copy of acknowledgement for filing of ITR is at page of the paper book." 4.1 The Ld. Sr. DR for Revenue relied on the order of the Ld. CIT(A). 5. We have heard both the sides. We have perused the material on records. For the sake of clarity, the relevant provision under section 80AC

SAHKARI GANNA VIKAS SAMITI LTD.,LAKHIMPUR KHERI vs. ACIT, SITAPUR

In the result, the appeal of the assessee is allowed

Bench: Shri Kul Bharat & Shri Anadee Nath Misshraassessment Year: 2019-20 Sahkari Ganna Vikas Samiti Acit Sitapur/Cpc, V. Limited Income Tax Deptt., C/O Ayyubi Chamber, Raniganj, Bengaluru-560500. Lakhimpur Kheri, U.P.-241001. Pan:Aawfs0887P (Appellant) (Respondent) Appellant By: Shri Shubham Rastogi, C.A. Respondent By: Shri Sunil Kumar Rajwanshi, Addl. Cit(Dr) Date Of Hearing: 26 11 2024

43 hrs on 01.11.2019. Copy of acknowledgement for filing of ITR is at page – of the paper book.” 4.1 The Ld. Sr. DR for Revenue relied on the order of the Ld. CIT(A). 5. We have heard both the sides. We have perused the material on records. For the sake of clarity, the relevant provision under section 80AC

DEPUTY COMMISSIONER OF INCOME TAX-6, LUCKNOW vs. M/S. U.P. STATE CONSTRUCTION & INFRASTRUCTURE DEVELOPMENT CORPORATION LIMITED, LUCKNOW

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

disallowance of the nature made by the AO. Accordingly, the addition of Rs. 6,95,21,880/- made by the AO is deleted giving relief to the appellant. 8(1) Ground of appeal number 5 is as under- 5. That the addition of an amount of Rs 3,28,24,607/- on account of Centage is wrong on the following

RAJDHANI NAGAR SAHKARI BANK LTD,LUCKNOW vs. DY.CIT, LUCKNOW

In the result, the appeal of the assessee in ITA

5 of 2014 dated 11.02.2014 has been examined by Hon'ble Delhi High Court in the case law reported in 452 ITR 206 and 399 ITR 483 and held that in the absence of exempt income, CBDT Circular cannot override express provisions of Section 14A of I. T. Act r. w. r. 8D of 1. T. Rules. Thus, the disallowance

M/S. NARAIN PROPERTIES LIMITED,KANPUR vs. ACIT-VI, KANPUR

In the result, the appeal of the assessee

Bench: Shri Kul Bharat & Shri Anadee Nath Misshra

section 43(5) and 73 of I.T. Act. Accordingly speculation loss is disallowed. After discussion the income is computed as under

RAJDHANI NAGAR SAHKARI BANK LTD,LUCKNOW vs. DY.CIT, LUCKNOW

5 of 2014\ndated 11.02.2014 has been examined by Hon'ble Delhi High Court in the case law\nreported in 452 ITR 206 and 399 ITR 483 and held that in the absence of exempt\nincome, CBDT Circular cannot override express provisions of Section 14A of I. T. Act\nr. w. r. 8D of 1. T. Rules. Thus, the disallowance