PRECIOUS BJUILDTECH PRIVATE LIMITED,BAREILLY vs. PCIT, , BAREILLY

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

Bench: Shri Kul Bharat & Shri Nikhil Choudharyआयकर अपील सं/ Ita No.66/Lkw/2022 ननिाारण वर्ा/ Assessment Year: 2017-18 Precious Buildtech Pvt Ltd V. Pcit Harmony Apartment, Adiacent Income Tax Department, To Bedi International School, Bareilly-243001. Dental College Road, Pilibhit Bypass Road, Bareilly-243001. Pan:Aagcp1255R अपीलार्थी/(Appellant) प्रत्यर्थी/(Respondent) अपीलार्थी कक और से/Appellant By: Shri Rakesh Garg, Adv प्रत्यर्थी कक और से /Respondent By: Shri Mazhar Akram, Cit(Dr) सुनवाई कक तारीख / Date Of Hearing: 24 07 2025 घोर्णा कक तारीख/ Date Of 30 09 2025 Pronouncement: आदेश / O R D E R

Transfer Pricing Officer, as the case may be,] shall be deemed to be erroneous in so far as it is prejudicial to the interests of the revenue, if, in the opinion of the Principal [Chief Commissioner or Chief Commissioner or Principal] Commissioner or Commissioner,— a) the order is passed without making inquiries or verification which should have been made; Page

U.P HOUSING & DEVELOPMENT BOARD,LUCKNOW vs. INCOME TAX OFFICER-2(3), LUCKNOW

In the result ITA Nos.532 & 533/Lkw/2014 and ITA Nos

transfer to have been claimed as expense by Units.\"\n\n3. The facts of the case are that the appellant was constituted by the Government of U.P. in terms of the provisions of section 3 of the Uttar Pradesh Awas Evam Vikas Parishad Adhiniyam, 1965. Section 15 in Chapter 3 of the Adhiniyam provides for the functions of the Parishad

RAJDHANI NAGAR SAHKARI BANK LTD,LUCKNOW vs. DY.CIT RANGE-6, LUCKNOW

In the result, both the appeals in ITA Nos

transferred to Provident Fund Commissioners Lucknow.\n6. The addition made are highly excessive, contrary to the facts, law and principle of\nnatural justice and without providing sufficient time and opportunity to have its say\non the reasons relied upon.”\nThe facts of the case are that the assessee filed a return of income on\n29.09.2012 declaring a total income

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

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

transfer of assets for charitable purposes should be \nirrevocable, which condition was not being fulfilled in the case of the Ayodhya-Faizabad \nDevelopment Authority. The AO also observed that the assessee was neither in the field of \neducation, nor in the field of medical relief of poor and held that, at the most, after seeing the \nobjects and activities carried

RAJDHANI NAGAR SAHKARI BANK LTD,LUCKNOW vs. DY.CIT, LUCKNOW

In the result, the appeal of the assessee in ITA

transferred to the Provident Fund Commissioner on 29.11.2016 after registering the EPF with the Provident Fund Commissioner on 05.08.2015. Accordingly, it was prayed that deduction may kindly be allowed. With regard to the denial of deduction on account of leave encashment actually paid, it was submitted that the action of the Ld. CIT(A) was incorrect because the authorities below

ACIT CIRCLE 3, LUCKNOW vs. RAJDHANI NAGAR SAHKARI BANK LTD, LUCKNOW

In the result, the appeal of the assessee in ITA

Bench: Shri Kul Bharat & Before Shri Kul Bharat & Before Shri Kul Bharat & Shri Nikhil Choudharyshri Nikhil Choudharyshri Nikhil Choudharyita Nos. 112 To 114/Lkw/2024 A.Ys. 2015-16 To 2017-18 Rajdhani Nagar Sahkari Rajdhani Nagar Sahkari Vs. Dcit Bank Ltd P.K. Complex, Raja Ram Mohan P.K. Complex, Raja Ram Mohan 555Ga/86, Sardari Khera, 555Ga/86, Sardari Khera, Rai Marg, Lucknow-226001. 226001. Alambagh, Lucknow-226006 226006 Pan:Aaaar1269D (Appellant) (Respondent) (Respondent) A.Y.2016-17 Acit Circle-3 Vs. Rajdhani Nagar Sahkari Bank Rajdhani Nagar Sahkari Bank 57 Ram Tirath Marg Pratyaksh 57 Ram Tirath Marg Pratyaksh Ltd Kar Bhawan, Lucknow Kar Bhawan, Lucknow-226001 555Ga/86, Sardari Khera, 555Ga/86, Sardari Khera, Alambagh, Lucknow-226006 226006 Pan: Aaaar1269D (Appellant) (Respondent) (Respondent) Assessee By: Sh. K.R. Rastogi, C.A. Sh. Shubham Rastogi, C.A. Revenue By: Sh. Sanjeev Krishna Sharma, Addl. Addl. Cit- Dr Date Of Hearing: 28.04.2025 Date Of Pronouncement: Date Of Pronouncement: 22.05.2025 O R D E R Per Bench.: These Four Appeals Have Been Have Been Filed For The Assessment Years 2015 For The Assessment Years 2015-16, 2016- 17 & 2017-18 By The Assessee & Revenue Ssessee & Revenue Against The Respective Orders Of The Respective Orders Of The Ld. Cit(A)/Nfac, Delhi Dated 02.02.2024, 05.02.2024 & 05.02.2024 Delhi Dated 02.02.2024, 05.02.2024 & 05.02.2024. While The Delhi Dated 02.02.2024, 05.02.2024 & 05.02.2024 Assessee Is In Appeal In Assessment Years 2015 Assessee Is In Appeal In Assessment Years 2015-16, 2016-17 & 2017-18, The Revenue 18, The Revenue

transferred to the Provident Fund Commissioner on 29.11.2016 after registering the EPF with the Provident Fund Commissioner on 05.08.2015. Accordingly, it was prayed that deduction may kindly be allowed. With regard to the denial of deduction on account of leave encashment actually paid, it was submitted that the action of the Ld. CIT(A) was incorrect because the authorities below

RAJDHANI NAGAR SAHKARI BANK LTD,LUCKNOW vs. DY. CIT, LUCKNOW

In the result, the appeal of the assessee in ITA

transferred to\nthe Provident Fund Commissioner on 29.11.2016 after registering the EPF with the\nProvident Fund Commissioner on 05.08.2015. Accordingly, it was prayed that\ndeduction may kindly be allowed. With regard to the denial of deduction on account\nof leave encashment actually paid, it was submitted that the action of the Ld. CIT(A)\nwas incorrect because the authorities below

RAJDHANI NAGAR SAHKARI BANK LTD,LUCKNOW vs. DY.CIT, LUCKNOW

transferred to\nthe Provident Fund Commissioner on 29.11.2016 after registering the EPF with the\nProvident Fund Commissioner on 05.08.2015. Accordingly, it was prayed that\ndeduction may kindly be allowed. With regard to the denial of deduction on account\nof leave encashment actually paid, it was submitted that the action of the Ld. CIT(A)\nwas incorrect because the authorities below

SHYAM SUNDER GUPTA,KANPUR vs. DY. COMMISSIONER OF INCOME TAX-1, KANPUR

In the result, the appeal of the assessee is dismissed

Disallowance: Rs.10,00,000/-)\nThe assessee's submission as under:\nThe AO has held that the closing stock should ought to have been valued on\nthe basis of cost plus expenses, whereas the assessee has valued the closing\nstock on purchase price only.. It was explained that there had been no change\nin the method of accounting regularly followed

M/S MODEL TANNERS (INDIA) PVT. LTD.,KANPUR vs. ASTT. COMMISSIONER OF INCOME TAX, KANPUR

In the result, ITA No. 374/LKW/2017 is partly allowed while ITA No

price prevailing in the market and this cash was being carried by Mr. Mehtab Alam. The bank was requested to issue a certificate for the aforementioned purpose. Consequent to this search, the case of the assessee was centralized with the DCIT, Central Circle-I, Kanpur on 23.03.2012. Subsequently, it was transferred to the DCIT, Central Circle-II. Prior to this

M/S MODEL TANNERS (INDIA) PVT. LTD.,KANPUR vs. ASTT. COMMISSIONER OF INCOME TAX, KANPUR

In the result, ITA No. 374/LKW/2017 is partly allowed while ITA No

price prevailing in the market and this cash was being carried by Mr. Mehtab Alam. The bank was requested to issue a certificate for the aforementioned purpose. Consequent to this search, the case of the assessee was centralized with the DCIT, Central Circle-I, Kanpur on 23.03.2012. Subsequently, it was transferred to the DCIT, Central Circle-II. Prior to this

ACIT(E), LUCKNOW vs. M/S. BHAGWANT INSTITUTE OF TECHNOLOGY, BIJNOR

In the result, the appeal of the Revenue is partly allowed

price fixation' is neither the forte nor the function\nof the Court and it cannot be contended that education must be available\nfree and it must be run on a charitable basis. Apex court ruled that the\ntime is not yet ripe to hold that education must be made available on a\ncharitable basis and it is true whenever trusts

INCOME TAX OFFICER-3(1), KANPUR vs. SHRI ARVIND KUMAR GUPTA, KANPUR

In the result, the appeal is held to be allowed for statistical purposes

Bench: SH.KUL BHARAT, VICE PRESIDENT AND SH. NIKHIL CHOUDHARY (Accountant Member)

transfer of shares in the scrips of Kailash Auto Finance Limited. The ld. AO noted that a report had been circulated by the Directorate of Income Tax (Inv), Kolkata regarding, “bogus” LTCG arising out of trading in various penny stocks. The ld. AO noted that M/s Kailash Auto Finance Limited was listed as one of such penny stocks against which

MAHESH MITTAL,LUCKNOW vs. ACIT, RANGE-5, LUCKNOW, LUCKNOW

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

Bench: Shri Kul Bharat & Shri Anadee Nath Misshramahesh Mittal V. Acit, Range-5 1/16, Vinay Khand Gomti Income Tax Office Ashok Nagar, Lucknow-226010. Marg, Lucknow-226001. Pan:Acqpm4459B (Appellant) (Respondent) Appellant By: Shri Akshay Agarwal, Adv Respondent By: Shri Amit Singh Chauhan, Cit(Dr) O R D E R

disallowing the addition made in unsecured loan amounting to Rs. 1,31,00,000/-. 6.2 (i) The appellant has taken a loan of Rs. 25,00,000/- from Shri Ravindra Kumar HUF. On perusal of reply of the assessee it has been found that M/s Fair Intermediate Investment Pvt. Ltd. In which the assessee is director has given

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

transfer of assets for charitable purposes should be \nirrevocable, which condition was not being fulfilled in the case of the Ayodhya-Faizabad \nDevelopment Authority. The AO also observed that the assessee was neither in the field of \neducation, nor in the field of medical relief of poor and held that, at the most, after seeing the \nobjects and activities carried

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

transfer of assets for charitable purposes should be \nirrevocable, which condition was not being fulfilled in the case of the Ayodhya-Faizabad \nDevelopment Authority. The AO also observed that the assessee was neither in the field of \neducation, nor in the field of medical relief of poor and held that, at the most, after seeing the \nobjects and activities carried

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

Bench: Sh. Sudhanshu Srivastava & Sh. Nikhil Choudhary

transfer of assets for charitable purposes should be irrevocable, which condition was not being fulfilled in the case of the Ayodhya-Faizabad Development Authority. The AO also observed that the assessee was neither in the field of education, nor in the field of medical relief of poor and held that, at the most, after seeing the objects and activities carried

INCOME TAX OFFICER-2(3), LUCKNOW vs. U.P AWAS EVAM VIKAS PARISHAD, LUCKNOW

In the result ITA Nos.532 & 533/Lkw/2014 and ITA Nos

transfer to have been claimed as expense by Units.\"\n3. The facts of the case are that the appellant was constituted by the\nGovernment of U.P. in terms of the provisions of section 3 of the Uttar Pradesh Awas\nEvam Vikas Parishad Adhiniyam, 1965. Section 15 in Chapter 3 of the Adhiniyam\nprovides for the functions of the Parishad, which