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

2)(vii)(b) of the Act, without appreciating that the \nassessee had owned property more than three houses prior to the new \ninvestment in house property donated by violation of provisions of section 54F of \nIncome Tax Act. \n5. Whether on facts and circumstances of the case and in law, the CIT(A) erred in \ndeleting the addition of Rs.37

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

2,550 (3,000+300-\n750) X 1279.06 sq. mtr] and cost of boundary wall Rs.3,67,500/- aggregating\nRs.36,29,103/- against the consideration of Rs.30,00,000/-. Therefore\ndifference between FMV of property and actual sale consideration is of Rs.\n6,29,103/- only. However, Ld. CIT(A) sustained the addition to the extent

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

house property situated at 57, Laxmanpuri, Indira Nagar, Lucknow. However, Ld. AO rejected the claim of assessee on following ground being details filed in ITR in AL schedule:- i. opp. VikasBhawan, Pant Nagar, Civil Lines, Gonda ii. Balrampur iii. Poly opp. VikasBhawan, Pant Nagar, Civil Lines, Gonda iv. 57, Laxmanpuri, Indira Nagar, Lucknow Ignoring the submission of assessee and details

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

house property situated at 57, Laxmanpuri, Indira Nagar, Lucknow. However, Ld. AO rejected the claim of assessee on following ground being details filed in ITR in AL schedule:- i. opp. VikasBhawan, Pant Nagar, Civil Lines, Gonda ii. Balrampur iii. Poly opp. VikasBhawan, Pant Nagar, Civil Lines, Gonda iv. 57, Laxmanpuri, Indira Nagar, Lucknow Ignoring the submission of assessee and details

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

house property situated at 57, Laxmanpuri, Indira Nagar, Lucknow. However, Ld. AO rejected the claim of assessee on following ground being details filed in ITR in AL schedule:- i. opp. VikasBhawan, Pant Nagar, Civil Lines, Gonda ii. Balrampur iii. Poly opp. VikasBhawan, Pant Nagar, Civil Lines, Gonda iv. 57, Laxmanpuri, Indira Nagar, Lucknow Ignoring the submission of assessee and details

DCIT, CENTRAL CIRCLE-2, LUCKNOW, LUCKNOW vs. RAKESH KUMAR PANDEY, GONDA UP

2, Civil Lines, Gonda u/s 69 of the I.T. Act, 1961,\nwithout appreciating the fact that the percentage of valuation found in total\ninvestment on construction of building as declared by the assessee and as\nestimated by the Valuation Officer, has been worked out at 25.4%\n(1 3164654X100/12460146), which is over and above 10%.\n3. Whether on facts

KASHI NATH SETH SARRAF PRIVATE LIMITED,HARDOI vs. ACIT, SITAPUR, SITAPUR

In the result, the appeal of the assessee is partly allowed for\nstatistical purposes

40A(3) and no defect has been pointed out\nby the learned assessing officer in respect of any of\nthe purchase bill.\n\n11.\nThe sales receipts are below Rs 2 lac and are in\naccordance with the Income Tax provisions.There is no\nrequirement of KYC below Rs 2 lac sale and all the\nsales bills are in accordance with