SHAILENDRA KUMAR SINGH ,HARDOI vs. ITO-3(2),HARDOI-1, HARDOI

In the result, these appeals of the assessee are partly allowed for statistical purposes

Bench: Shri Kul Bharat & Shri Anadee Nath Misshrait(Ss) A. Nos. 795 To 798/Lkw/2024 Assessment Year: 2021-22 Shailendra Kumar Singh Ito-3(2) V. Subhan Khera Sandila, Hardoi- Hardoi-1 241305. Uttar Pradesh-241305. Pan:Cvqps4275L (Appellant) (Respondent) Appellants By: Shri Naeem Khan, Ca Respondent By: Shri Sanjeev Krishna Sharma, Addl. Cit(Dr) O R D E R

House Property’. In support of this assertion, a Interest Certificate has been included. d) Disallowance of Rs 30,614/was made on account of disallowance of deduction under chapter V1-A Actual Facts: The claim referenced above is valid, and supporting documentation has been included for your reference. c) An addition of Rs 7,54,892/was made with respect to agricultural

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

ACIT, CENTRAL CIRCLE-II, LUCKNOW, LUCKNOW vs. RAKESH KUMAR PANDEY, GONDA U.P.

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

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

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

housing accommodation or for the purpose of planning, development or improvement of cities, towns and villages which before the amendment was not included in computing the total income, was omitted. Consequently, the benefit conferred by clause (20A) on such an Authority was taken away. Thus, in view of the fact that section 10(20A) was omitted and an Explanation

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

housing accommodation or for the purpose of planning, development or improvement of cities, towns and villages which before the amendment was not included in computing the total income, was omitted. Consequently, the benefit conferred by clause (20A) on such an Authority was taken away. Thus, in view of the fact that section 10(20A) was omitted and an Explanation

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

housing accommodation or for the purpose of planning, development or improvement of cities, towns and villages which before the amendment was not included in computing the total income, was omitted. Consequently, the benefit conferred by clause (20A) on such an Authority was taken away. Thus, in view of the fact that section 10(20A) was omitted and an Explanation

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

housing accommodation or for the purpose of planning, development or improvement of cities, towns and villages which before the amendment was not included in computing the total income, was omitted. Consequently, the benefit conferred by clause (20A) on such an Authority was taken away. Thus, in view of the fact that section 10(20A) was omitted and an Explanation

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

housing accommodation or for the purpose of planning, development or improvement of cities, towns and villages which before the amendment was not included in computing the total income, was omitted. Consequently, the benefit conferred by clause (20A) on such an Authority was taken away. Thus, in view of the fact that section 10(20A) was omitted and an Explanation

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

housing accommodation or for the purpose of planning, development or improvement of cities, towns and villages which before the amendment was not included in computing the total income, was omitted. Consequently, the benefit conferred by clause (20A) on such an Authority was taken away. Thus, in view of the fact that section 10(20A) was omitted and an Explanation

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

housing accommodation or for the purpose of planning, development or improvement of cities, towns and villages which before the amendment was not included in computing the total income, was omitted. Consequently, the benefit conferred by clause (20A) on such an Authority was taken away. Thus, in view of the fact that section 10(20A) was omitted and an Explanation

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

housing accommodation or for the purpose of planning, development or improvement of cities, towns and villages which before the amendment was not included in computing the total income, was omitted. Consequently, the benefit conferred by clause (20A) on such an Authority was taken away. Thus, in view of the fact that section 10(20A) was omitted and an Explanation

SMT. NIRMALA NIGAM,KANPUR vs. INCOME TAX OFFICER-3(5), KANPUR

In the result, the appeal is allowed

Bench: Shri. A. D. Jainassessment Year: 2009-10 Smt. Nirmala Nigam V. Income Tax Officer 3(5) 104/102, P. Road Kanpur Kanpur Tan/Pan:Afcpn4993C (Appellant) (Respondent) Appellant By: Shri P. K. Kapoor, C.A. Respondent By: Shri C. K. Singh, D.R. Date Of Hearing: 20 02 2019 Date Of Pronouncement: 22 02 2019

house property during F.Y. 2008-09 relevant to A.Y. 2009-10 for a consideration of Rs.21,50,000/- which is duly reflected in her Balance Sheet filed by the assessee for the year under consideration. Further, the assessee has purchased an immovable property amounting to Rs.65,57,000/- which is duly reflected in the ITS query in AST during

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, KANPUR., KANPUR vs. M/S. SUSHRUT INSTITUTE OF PLASTIC SURGERY PRIVATE LIMITED, LUCKNOW

The appeal of the Department stands dismissed whereas the Cross Objection of the assessee stands allowed

Bench: Shri. Sudhanshu Srivastava & Shri Nikhil Choudharyassessment Year: 2019-20 The Acit V. M/S Sushrut Institute Of Plastic Central Circle 2 Surgery Private Limited Kanpur 29, Shahmeena Road Lucknow Tan/Pan:Aaics2582G (Appellant) (Respondent) C.O. No.15/Lkw/2023 [Arising Out Of Ita No.30/Lkw/2023] Assessment Year: 2019-20 M/S Sushrut Institute Of Plastic V. The Acit Surgery Private Limited Central Circle 2 29, Shahmeena Road Kanpur Lucknow Tan/Pan:Aaics2582G (Cross - Objector) (Respondent)

34,000/- had been deposited in the bank account. It is also seen from a perusal of the paper book that the seized diary BK-9 mentions the date 14.06.2017 and, thus, apparently the cash added to the income in the captioned year pertains to assessment year 2018-19. Thus, evidently the AO has proceeded on mere assumption that

M/S AYODHYA DEVELOPMENT AUTHORITY (FORMELY AYODHYA FAIZABAD DEVELOPMENT AUTHORITY),LUCKNOW vs. THE DY. COMMISSIONER OF INCOME TAX (EXEMPTION), LUCKNOW, LUCKNOW

Bench: Sh. Sudhanshu Srivastava & Sh. Nikhil Choudhary

properties for the planned development of the area and specific guidelines had been laid down by the Govt on how auctions should be done by way of Govt Order no 378/9-aa-1- sampattiyan/aa.ba/2001 dated 20th June 2001. Furthermore, by way of Govt order 899/aath-1- 13-178 vividh/2012 dated 28/03/2013, it had been provided that the reserve price would be fixed

M/S K G CONSTRUCTION,LUCKNOW vs. DCIT-CC-1, LUCKNOW

In the result, the appeal is partly allowed

Bench: SH. SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER AND SH. NIKHIL CHOUDHARY (Accountant Member)

House, Faizabad Road, Central Circle-1, Lucknow Lucknow, Uttar Pradesh-226016 PAN: AAKFK4805B (Appellant) (Respondent) Assessee by: Sh. P.K. Kapoor, C.A. Revenue by: Sh. Vachaspati, CIT DR Date of hearing: 06.01.2026 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 orders

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.

property and thereby a capital asset. There was transfer of capital asset when the transaction was squared by an opposite corresponding transaction and similarly when squaring up was on expiry of the contract, it should be treated as extinguishment of rights in capital asset as per section 2(47) of the Income Tax Act, 1961. She pointed out that

(SMT.) ANJU SINGH,LUCKNOW vs. ASSTT. COMMISSIONER OF INCOME TAX, LUCKNOW

In the result, the appeals for assessment year 2003-04 to 2008-09

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

House, IIM Road (Land Only) 30,00,000 Om Narain Singh (iv) PPPL Excess stock 60,00,000 (v) 40,00,000 Baijnath Construction & acquisition of Capital Charitable & ITA No.390 to 396/LKW/2014 Page 29 of 40 (vi) Sanatan Construction & acquisition of Capital 25,00,000 (vii) Cash Seiuzed At various places 25,00,000 (viii) Maa Construction of Building

(SMT.) ANJU SINGH,LUCKNOW vs. ASSTT. COMMISSIONER OF INCOME TAX, LUCKNOW

In the result, the appeals for assessment year 2003-04 to 2008-09

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

House, IIM Road (Land Only) 30,00,000 Om Narain Singh (iv) PPPL Excess stock 60,00,000 (v) 40,00,000 Baijnath Construction & acquisition of Capital Charitable & ITA No.390 to 396/LKW/2014 Page 29 of 40 (vi) Sanatan Construction & acquisition of Capital 25,00,000 (vii) Cash Seiuzed At various places 25,00,000 (viii) Maa Construction of Building