M/S STANDARD FROZEN FOODS EXPORTS PVT LTD,HAPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CC-II, KANPUR

In the result, all the appeals are allowed

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

14. The Tribunal has further noted that the provisions contained in section 153A to section 153D provide for separate notice to be given to assessee for assessment for each year as specified in section 153A of the Act; the assessee has to file separate ITR for each year as specified in section 153A of the Act; separate assessment orders

SACHIN VERMA,HAPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE - II, KANPUR

In the result, all the appeals are allowed

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

14. The Tribunal has further noted that the provisions contained in section 153A to section 153D provide for separate notice to be given to assessee for assessment for each year as specified in section 153A of the Act; the assessee has to file separate ITR for each year as specified in section 153A of the Act; separate assessment orders

KAMAL KANT VERMA,HAPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-II, KANPUR

In the result, all the appeals are allowed

Bench: Shri Anadee Nath Misshra & Shri Subhash Malguria

14. The Tribunal has further noted that the provisions contained in section 153A to section 153D provide for separate notice to be given to assessee for assessment for each year as specified in section 153A of the Act; the assessee has to file separate ITR for each year as specified in section 153A of the Act; separate assessment orders

SHRI DEVENDRA KUMAR SHAH,KANPUR vs. INCOME TAX OFFICER- 3(5), KANPUR

In the result, the appeal filed by the assessee is partly allowed

Bench: Shri T.S. Kapoorassessment Year 2013-14 Devendra Kumar Shah, Ito -3(5), Vs. Kanpur - 208001 701 Urvashi Apartment, 7/292, Tilak Nagar, Kapur - 208002 Pan – Abmps 9132J (Appellant) (Respondent)

reassessment proceedings under Section 148 of Act, 1961 is AIR information received from PNB showing cash deposit of Rs. 70,19,000/­ in Assessee's Saving Bank Account. Since notice under Section 148 of Act, 1961 dated 18.11.2011 was void having been issued by an Officer having no jurisdiction, further notice issued under Section

SHIMLA PROPERTIES,LUCKNOW vs. PR. COMMISSIONER OF INCOME TAX, LUCKNOW

In the result, the appeal filed by the assessee is allowed

Bench: Shri. A. D. Jain & Shri T. S. Kapoorassessment Year: 2012-13 Shimla Properties V. The Pcit 30C, Datiya House Lucknow Khursheed Bagh Lucknow Tan/Pan:Ablfs9732M (Appellant) (Respondent) Appellant By: Shri P. K. Kapoor, C.A. Respondent By: Shri Neeraj Kumar, Cit (Dr) Date Of Hearing: 16 08 2022 Date Of Pronouncement: 01 09 2022 O R D E R

section 148, dated 30.3.2019 (APB:16) was issued for initiating the reassessment proceedings. The reasons recorded by the Page 8 of 16 Assessing Officer (APB:19 to 21) for initiating the reassessment proceedings are scanned and reproduced below: Page 9 of 16 Page 10 of 16 14

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

reassessment proceedings under section 148 of the Act was that the exemption under section 10(33) of the Act, and which was amended retrospectively by the Finance Act, 2001 with effect from April 1, 2000, would not apply to any income arising from the transfer of units of a mutual fund. Since the assessee had earned dividend income from transfer

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

reassessment proceedings under section 148 of the Act was that the exemption under section 10(33) of the Act, and which was amended retrospectively by the Finance Act, 2001 with effect from April 1, 2000, would not apply to any income arising from the transfer of units of a mutual fund. Since the assessee had earned dividend income from transfer

ASSISTANT COMMISIONER OF INCOME TAX, CENTRAL CIRCLE, BAREILLY, BAREILLY vs. MOHIT ANAND, BAREILLY

Appeals of the Department stand dismissed

Bench: Shri Sudhanshu Srivastava & Shri Nikhil Choudharyit(Ss) A Nos.336 & 337/Lkw/2025 Assessment Years: 2014-15 & 2015-16 Acit, Central Circle, Bareilly Vs. Ankur Anand Kamla Nehru Marg, Civil Lines, 148 Civil Lines, Bareilly, Bareilly, Bareilly-243001. Bareilly-243001. Tan/Pan:Agppa4219C (Appellant) (Respondent) It(Ss)A No.334/Lkw/2025 Assessment Year:2015-16 Acit, Central Circle, Bareilly Vs. Mohit Anand Kamla Nehru Marg, Civil Lines, 148 Civil Lines, Bareilly, Bareilly, Bareilly-243001. Bareilly-243001. Tan/Pan:Abupa3002H (Appellant) (Respondent)

14 7/ 146 SCL 163. wherein the Hon’ble Apex Court has held that abnormal difference between the prices at which the trades were executed without corresponding effect on the price of the underlying security, shows that the option in which the party traded was not in demand in the market and that it was unusual that the trades were

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, BAREILLY, BAREILLY vs. ANKUR ANAND, BAREILLY

Appeals of the Department stand dismissed

Bench: Shri Sudhanshu Srivastava & Shri Nikhil Choudharyit(Ss) A Nos.336 & 337/Lkw/2025 Assessment Years: 2014-15 & 2015-16 Acit, Central Circle, Bareilly Vs. Ankur Anand Kamla Nehru Marg, Civil Lines, 148 Civil Lines, Bareilly, Bareilly, Bareilly-243001. Bareilly-243001. Tan/Pan:Agppa4219C (Appellant) (Respondent) It(Ss)A No.334/Lkw/2025 Assessment Year:2015-16 Acit, Central Circle, Bareilly Vs. Mohit Anand Kamla Nehru Marg, Civil Lines, 148 Civil Lines, Bareilly, Bareilly, Bareilly-243001. Bareilly-243001. Tan/Pan:Abupa3002H (Appellant) (Respondent)

14 7/ 146 SCL 163. wherein the Hon’ble Apex Court has held that abnormal difference between the prices at which the trades were executed without corresponding effect on the price of the underlying security, shows that the option in which the party traded was not in demand in the market and that it was unusual that the trades were

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, BAREILLY, BAREILLY vs. ANKUR ANAND, BAREILLY

Appeals of the Department stand dismissed

Bench: Shri Sudhanshu Srivastava & Shri Nikhil Choudharyit(Ss) A Nos.336 & 337/Lkw/2025 Assessment Years: 2014-15 & 2015-16 Acit, Central Circle, Bareilly Vs. Ankur Anand Kamla Nehru Marg, Civil Lines, 148 Civil Lines, Bareilly, Bareilly, Bareilly-243001. Bareilly-243001. Tan/Pan:Agppa4219C (Appellant) (Respondent) It(Ss)A No.334/Lkw/2025 Assessment Year:2015-16 Acit, Central Circle, Bareilly Vs. Mohit Anand Kamla Nehru Marg, Civil Lines, 148 Civil Lines, Bareilly, Bareilly, Bareilly-243001. Bareilly-243001. Tan/Pan:Abupa3002H (Appellant) (Respondent)

14 7/ 146 SCL 163. wherein the Hon’ble Apex Court has held that abnormal difference between the prices at which the trades were executed without corresponding effect on the price of the underlying security, shows that the option in which the party traded was not in demand in the market and that it was unusual that the trades were

SHRI VINAY PRATAP SINGH,LUCKNOW vs. ASTT. COMMISSIONER OF INCOME TAX, LUCKNOW

In the result, all the appeals filed by the assessee are partly allowed

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

reassess income of such other person in accordance with the provisions of section 153A : Provided that in case of such other person, the reference to the date of initiation of the search under section 132 or making of requisition under section 132A in the second proviso to sub-section (1) of section 153A shall be construed as reference

SHRI VINAY PRATAP SINGH,LUCKNOW vs. ASTT. COMMISSIONER OF INCOME TAX, LUCKNOW

In the result, all the appeals filed by the assessee are partly allowed

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

reassess income of such other person in accordance with the provisions of section 153A : Provided that in case of such other person, the reference to the date of initiation of the search under section 132 or making of requisition under section 132A in the second proviso to sub-section (1) of section 153A shall be construed as reference

SHRI VINAY PRATAP SINGH,LUCKNOW vs. ASTT. COMMISSIONER OF INCOME TAX, LUCKNOW

In the result, all the appeals filed by the assessee are partly allowed

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

reassess income of such other person in accordance with the provisions of section 153A : Provided that in case of such other person, the reference to the date of initiation of the search under section 132 or making of requisition under section 132A in the second proviso to sub-section (1) of section 153A shall be construed as reference

SHRI VINAY PRATAP SINGH,LUCKNOW vs. ASTT. COMMISSIONER OF INCOME TAX, LUCKNOW

In the result, all the appeals filed by the assessee are partly allowed

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

reassess income of such other person in accordance with the provisions of section 153A : Provided that in case of such other person, the reference to the date of initiation of the search under section 132 or making of requisition under section 132A in the second proviso to sub-section (1) of section 153A shall be construed as reference

SHRI VINAY PRATAP SINGH,LUCKNOW vs. ASTT. COMMISSIONER OF INCOME TAX, LUCKNOW

In the result, all the appeals filed by the assessee are partly allowed

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

reassess income of such other person in accordance with the provisions of section 153A : Provided that in case of such other person, the reference to the date of initiation of the search under section 132 or making of requisition under section 132A in the second proviso to sub-section (1) of section 153A shall be construed as reference

SHRI VINAY PRATAP SINGH,LUCKNOW vs. ASTT. COMMISSIONER OF INCOME TAX, LUCKNOW

In the result, all the appeals filed by the assessee are partly allowed

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

reassess income of such other person in accordance with the provisions of section 153A : Provided that in case of such other person, the reference to the date of initiation of the search under section 132 or making of requisition under section 132A in the second proviso to sub-section (1) of section 153A shall be construed as reference

ASSISTANT COMMISSIONER OF INCOME TAX, LUCKNOW vs. SUDHANSHU TRIVEDI, LUCKNOW

Bench: Shri. Sudhanshu Srivastava & Shri Nikhil Choudharyassessment Year: 2015-16 The Acit V. Sudhanshu Trivedi Lucknow 21/1013, Sector 21 Indira Nagar, Lucknow (U.P) Tan/Pan:Ackpt4164G (Appellant) (Respondent) Appellant By: Shri Amit Singh Chouhan, D.R. Respondent By: S/Shri Rajat Jain & Akshat Jain, Cas O R D E R

14 2.1 The AO also invoked the provisions of section 115BBE of the Act and initiated penalty proceedings under section 271(1)(c) of the Act, separately. 2.2 Aggrieved, the Assessee preferred an appeal before the Ld. First Appellate Authority. The main issued raised before the Ld. First Appellate Authority was with respect to the validity of reassessment

ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-1, BAREILLY vs. WAVE DISTILLERIES AND BREWERIES LIMITED, BAREILLY

Appeals of the Department stand dismissed

Bench: Shri. Sudhanshu Srivastava & Shri Nikhil Choudhary

reassessment proceedings for the captioned Assessment years was void-ab-initio, illegal and in contravention to the provisions of section 148 of the Act. Consequently, the proceedings under section 148 of the Act and the assessment orders passed are liable to be quashed. ITA Nos.153 to 157/LKW/2023 C.O. Nos.23, 24, 21,22 and 25/LKW/2023 Page