SHRI KINGSHUK GHOSHAL,LUCKNOW vs. INCOME TAX OFFICER-6(5), LUCKNOW

The appeal of the assessee stands allowed

Bench: Shri. Sudhanshu Srivastavaassessment Year: 2012-13 Shri Kinghshuk Ghoshal V. The Ito 6(5) E-402, Halwasiya Utsav Enclave Lucknow Opposite Hal, Faizabad Road Lucknow Tan/Pan:Affpg3258L (Appellant) (Respondent) Appellant By: Shri P. K. Kapoor, C.A. Respondent By: Shri Sunil Kumar Rajwanshi, D.R. O R D E R This Appeal Has Been Preferred By The Assessee Against Order Dated 26.12.2017, Passed By The Learned Commissioner Of Income Tax (Appeal), Lucknow-3 (Ld. Cit(A)) For Assessment Year 2012-13. 2.0 The Brief Facts Of The Case Are That The Assessee Filed His Return Of Income For The Year Under Consideration On 29.11.2012, Declaring A Total Income Of Rs.1,05,233/-. The Case Of The Assessee Was Selected For Scrutiny Under Cass. During The Course Of Assessment Proceedings, The Assessing Officer (Ao) Noticed That The Assessee Was Earning Interest Income From Saving Bank Deposits & Fdrs & That The Assessee Had Claimed Exemption Of Rs.71,54,619/- Under Section 54 Of The Income Tax Act, 1961 (Hereinafter Called “The Act’). During The

section 54F(4) of the Act. Now, in the given facts and circumstances of the case, I find that the assessee had proved investment of amount for purchase of house property

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

house property donated by \nviolation of provisions of section 54F of Income Tax Act, 1961. \nI.T.A. No.608/Lkw/2024, A.Y. 2020-21 (Revenue

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

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

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

AYYUB JAFRI,LUCKNOW vs. DY. COMMISSIONER OF INCOME TAX-6, LUCKNOW

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

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

54F. The ld. AO pointed out to the assessee that additional documents were required to examine the claim such as sale / purchase deeds, documents in support of claimed costs of improvement, evidence of deposit of sale consideration into capital gain accounts, bills and vouchers pertaining to cost of house constructed by you, details of parties to whom payments were made

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

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

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

house property situated at\nLucknow without appreciating the fact that the assessee had owned property more than\n10 years, property other than giving new investment in the property suted at\nLucknow at the time of transfer of property that violates the provisions of section 54F

SMT. SITA KHANDELWAL,BAREILLY vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2, BAREILLY

In the result, the appeal of the assessee stands dismissed

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

house property at Rs.88,00,000/-. The investment in purchase of property has been made after due date of filing of return u/s 139(1) of the Act. Due date of filing of return by the assessee was 30/09/2015. The Assessing Officer noted that investment in new property of Rs.88,00,000/- was made after due date of filing

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

house property\nsituated at 57, Laxmanpuri, Indira Nagar, Lucknow. However, Ld. AO\nrejected the claim of assessee on following ground being details filed in ITR\nin AL schedule:-\ni. opp. VikasBhawan, Pant Nagar, Civil Lines, Gonda\nii. Balrampur\niii. Poly opp. VikasBhawan, Pant Nagar, Civil Lines, Gonda\niv. 57, Laxmanpuri, Indira Nagar, Lucknow\n37\nIgnoring the submission of assessee

KASHMIRI LAL,KANPUR vs. ITO WARD-2(2), KANPUR

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

Bench: Shri. Sudhanshu Srivastavaassessment Year: 2013-14 Kashmiri Lal V. The Ito 126/33, Block Q Ward 2(2) Govind Nagar Kanpur Kanpur Tan/Pan:Asarpl8577C (Appellant) (Respondent) Appellant By: None (Adjournment Application) Respondent By: Shri Sanjeev Krishna Sharma, D.R. Date Of Hearing: 23 07 2024 Date Of Pronouncement: 30 08 2024 O R D E R

section 54F. The Assessing Officer is directed to allow a sum of Rs.3,99,950/- (being one fourth share of the appellant). From the capital gain of Rs.14,43,120/- and assess the balance of Rs.10,49,170/- as capital gains, chargeable to tax.” 4. Now, the assessee has approached this Tribunal, challenging the action of the Addl./JCIT

AVNEEDRA SINGH RATHORE,KANPUR vs. ITO-1(1), KANPUR, KANPUR

In the result, the appeal of the assessee stands partly allowed

Bench: Shri T. S. Kapoor

section 151(2) of the Income Tax Act from the JCIT, the entire assessment are void-abinito and be quashed. 2. Because there being no reason to believe nor there being any material assessment proceeding initiated are bad in law and be quashed. 3. Because the AO as well as CIT(A) has failed to appreciate the fact