RAKESH KUMAR PANDEY,GONDA vs. DCIT/ACIT (CENTRAL)-2, LUCKNOW

In the result, the outcome of the appeals and Cross Objections are as under:

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

property was converted into freehold through registered deed on 24/10/2017. During the assessment proceeding of AY 2014-15, AO has referred the valuation of said property u/s 50C/142A in response to which Valuation Officer, Allahabad has estimated the FMV of lease property as on 04/10/2013 at Rs. 43,46,000/- against actual consideration of Rs. 31,45,000/- vide valuation

RAKESH KUMAR PANDEY,GONDA vs. DCIT/ACIT, (CENTRAL)-2, LUCKNOW

house property situated at\nLucknow at the time of transfer of property that violates the provisions of section 54F\nof Income Tax Act, 1961.\n\nI.T.A. No.608/Lkw/2024, A.Y. 2020-21 (Revenue’s Appeal)\n\n1. Whether on facts and circumstances of the case and in law, the CIT(A) erred in\ndeleting the addition of Rs.93,93,846/- on account

RAKESH KUMAR PANDEY,GONDA vs. DCIT/ACIT (CENTRAL)-2, LUCKNOW

house property situated at\nLucknow at the time of transfer of property that violates the provisions of section 54F\nof Income Tax Act, 1961.\n\nI.T.A. No.608/Lkw/2024, A.Y. 2020-21 (Revenue’s Appeal)\n\n4. Whether on facts and circumstances of the case and in law, the CIT(A) erred in\ndeleting the addition of Rs.1,74,492/- on account

RAKESH KUMAR PANDEY,GONDA vs. DCIT/ACIT(CENTRAL)-2, LUCKNOW

section 29 and are deemed to have been taken\nconsideration while making such estimate.\"\n• Commissioner of Income-tax, Allahabad v. Target Construction Co.\nLtd.*[2015] 55 taxmann.com 294 (Allahabad)\nIT: Where in case of government contractor engaged in construction of roads\nbooks of account was rejected, Tribunal, relying upon profit rates of preceding\nthree years, was justified in estimating

LUCKNOW DEVELOPMENT AUTHORITY ,LUCKNOW vs. ACIT (E), LUCKNOW

In the result, all the appeals are partly allowed

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

29 and Section 41. I.T.A. Nos.185,186,163,164,439/Lkw/2019 22 vii. State Government has power to make rules- Section 55 of UPUPDA. viii. Without prior approval of State Government, no regulations and bye laws can be made - Section 56 and Section 57 of UPUPDA. Learned counsel for the assessee submitted that the assessee is engaged in providing houses

LUCKNOW DEVELOPMENT AUTHORITY ,LUCKNOW vs. ACIT (E), LUCKNOW

In the result, all the appeals are partly allowed

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

29 and Section 41. I.T.A. Nos.185,186,163,164,439/Lkw/2019 22 vii. State Government has power to make rules- Section 55 of UPUPDA. viii. Without prior approval of State Government, no regulations and bye laws can be made - Section 56 and Section 57 of UPUPDA. Learned counsel for the assessee submitted that the assessee is engaged in providing houses

LUCKNOW DEVELOPMENT AUTHORITY ,LUCKNOW vs. DCIT (E), LUCKNOW

In the result, all the appeals are partly allowed

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

29 and Section 41. I.T.A. Nos.185,186,163,164,439/Lkw/2019 22 vii. State Government has power to make rules- Section 55 of UPUPDA. viii. Without prior approval of State Government, no regulations and bye laws can be made - Section 56 and Section 57 of UPUPDA. Learned counsel for the assessee submitted that the assessee is engaged in providing houses

LUCKNOW DEVELOPMENT AUTHORITY,LUCKNOW vs. ASSISTANT COMMISSIONER OF INCOME TAX (EXEMPTION), LUCKNOW

In the result, all the appeals are partly allowed

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

29 and Section 41. I.T.A. Nos.185,186,163,164,439/Lkw/2019 22 vii. State Government has power to make rules- Section 55 of UPUPDA. viii. Without prior approval of State Government, no regulations and bye laws can be made - Section 56 and Section 57 of UPUPDA. Learned counsel for the assessee submitted that the assessee is engaged in providing houses

LUCKNOW EVELOPMENT AUTHORITY,LUCKNOW vs. I.T.O., LUCKNOW

In the result, all the appeals are partly allowed

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

29 and Section 41. I.T.A. Nos.185,186,163,164,439/Lkw/2019 22 vii. State Government has power to make rules- Section 55 of UPUPDA. viii. Without prior approval of State Government, no regulations and bye laws can be made - Section 56 and Section 57 of UPUPDA. Learned counsel for the assessee submitted that the assessee is engaged in providing houses

ASTT. COMMISSIONER OF INCOME TAX (EXEMPTION), LUCKNOW vs. M/S U.P AWAS EVAM VIKAS PARISHAD, LUCKNOW

In the result, all the grounds taken in the appeals and ground 1 of additional grounds of the Revenue stand dismissed and additional ground

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

29. The facts of the present case have to be necessarily seen in the light of the provisions contained in sub-section (8) of Section 13, discussed hereinabove, which provides that the provisions of Section 11 granting exemption of income shall not operate if the provisions of the first proviso to clause (15) of Section 2 become applicable

ASTT. COMMISSIONER OF INCOME TAX (EXEMPTION), LUCKNOW vs. M/S U.P AWAS EVAM VIKAS PARISHAD, LUCKNOW

In the result, all the grounds taken in the appeals and ground 1 of additional grounds of the Revenue stand dismissed and additional ground

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

29. The facts of the present case have to be necessarily seen in the light of the provisions contained in sub-section (8) of Section 13, discussed hereinabove, which provides that the provisions of Section 11 granting exemption of income shall not operate if the provisions of the first proviso to clause (15) of Section 2 become applicable

ASTT. COMMISSIONER OF INCOME TAX (EXEMPTION), LUCKNOW vs. M/S U.P AWAS EVAM VIKAS PARISHAD, LUCKNOW

In the result, all the grounds taken in the appeals and ground 1 of additional grounds of the Revenue stand dismissed and additional ground

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

29. The facts of the present case have to be necessarily seen in the light of the provisions contained in sub-section (8) of Section 13, discussed hereinabove, which provides that the provisions of Section 11 granting exemption of income shall not operate if the provisions of the first proviso to clause (15) of Section 2 become applicable

ASTT. COMMISIONER OF INCOME TAX (EXEMPTION), LUCKNOW vs. M/S U.P AWAS EVAM VIKAS PARISHAD, LUCKNOW

In the result, all the grounds taken in the appeals and ground 1 of additional grounds of the Revenue stand dismissed and additional ground

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

29. The facts of the present case have to be necessarily seen in the light of the provisions contained in sub-section (8) of Section 13, discussed hereinabove, which provides that the provisions of Section 11 granting exemption of income shall not operate if the provisions of the first proviso to clause (15) of Section 2 become applicable

ASTT. COMMISIONER OF INCOME TAX (EXEMPTION), LUCKNOW vs. M/S U.P AWAS EVAM VIKAS PARISHAD, LUCKNOW

In the result, all the grounds taken in the appeals and ground 1 of additional grounds of the Revenue stand dismissed and additional ground

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

29. The facts of the present case have to be necessarily seen in the light of the provisions contained in sub-section (8) of Section 13, discussed hereinabove, which provides that the provisions of Section 11 granting exemption of income shall not operate if the provisions of the first proviso to clause (15) of Section 2 become applicable

ASTT. COMMISIONER OF INCOME TAX (EXEMPTION), LUCKNOW vs. M/S U.P AWAS EVAM VIKAS PARISHAD, LUCKNOW

In the result, all the grounds taken in the appeals and ground 1 of additional grounds of the Revenue stand dismissed and additional ground

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

29. The facts of the present case have to be necessarily seen in the light of the provisions contained in sub-section (8) of Section 13, discussed hereinabove, which provides that the provisions of Section 11 granting exemption of income shall not operate if the provisions of the first proviso to clause (15) of Section 2 become applicable

ASTT. COMMISIONER OF INCOME TAX (EXEMPTION), LUCKNOW vs. M/S U.P AWAS EVAM VIKAS PARISHAD, LUCKNOW

In the result, all the grounds taken in the appeals and ground 1 of additional grounds of the Revenue stand dismissed and additional ground

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

29. The facts of the present case have to be necessarily seen in the light of the provisions contained in sub-section (8) of Section 13, discussed hereinabove, which provides that the provisions of Section 11 granting exemption of income shall not operate if the provisions of the first proviso to clause (15) of Section 2 become applicable

ASTT. COMMISSIONER OF INCOME TAX (EXEMPTION), LUCKNOW vs. M/S U.P AWAS EVAM VIKAS PARISHAD, LUCKNOW

In the result, all the grounds taken in the appeals and ground 1 of additional grounds of the Revenue stand dismissed and additional ground

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

29. The facts of the present case have to be necessarily seen in the light of the provisions contained in sub-section (8) of Section 13, discussed hereinabove, which provides that the provisions of Section 11 granting exemption of income shall not operate if the provisions of the first proviso to clause (15) of Section 2 become applicable

KARUNESH KUMAR SHUKLA,LUCKNOW vs. INCOME TAX OFFICER-1(1), LUCKNOW

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

house property under section 54F of the Income Tax Act and the same was liable to be allowed. However, the ld. CIT(A) had not considered any of these issues and had dismissed the case of the assessee without assigning any reasons thereof. Accordingly, it was prayed that the matter should be restored back to the file of the lower