M/S U.P AWAS EVAM VIKAS PARISHAD,LUCKNOW vs. DEPUTY COMMISSIONER OF INCOME TAX (EXEMPTION), LUCKNOW

In the result, the appeals of the assessee are partly allowed whereas the Cross Objections of the Revenue are partly allowed for statistical purposes

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

transfer plots, building and other properties of the Board or of the State Government placed under the control and management of the Board. f) To organize and run workshops and stores for the manufacture and stock piling of building materials. g) On such terms and conditions as may be agreed upon between the Board and the State Government, to declare

M/S U.P AWAS EVAM VIKAS PARISHAD,LUCKNOW vs. DEPUTY COMMISSIONER OF INCOME TAX (EXEMPTION), LUCKNOW

In the result, the appeals of the assessee are partly allowed whereas the Cross Objections of the Revenue are partly allowed for statistical purposes

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

transfer plots, building and other properties of the Board or of the State Government placed under the control and management of the Board. f) To organize and run workshops and stores for the manufacture and stock piling of building materials. g) On such terms and conditions as may be agreed upon between the Board and the State Government, to declare

M/S U.P AWAS EVAM VIKAS PARISHAD,LUCKNOW vs. DEPUTY COMMISSIONER OF INCOME TAX (EXEMPTION), LUCKNOW

In the result, the appeals of the assessee are partly allowed whereas the Cross Objections of the Revenue are partly allowed for statistical purposes

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

transfer plots, building and other properties of the Board or of the State Government placed under the control and management of the Board. f) To organize and run workshops and stores for the manufacture and stock piling of building materials. g) On such terms and conditions as may be agreed upon between the Board and the State Government, to declare

LUCKNOW DEVELOPMENT AUTHORITY ,LUCKNOW vs. ACIT (E), LUCKNOW

In the result, all the appeals are partly allowed

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

6) SC 588, 625-26." (ii) Meaning and Concept of “Trade” and “Commerce” In the Commentary on Income Tax law by Chaturvedi & Pithisaria, "trade" and "commerce" have been defined as under (Page 1323; Vol 1; Fifth Edition): “Trade or Commerce- The definition of 'trade' does not find its place in the Act. The dictionary meaning of 'trade' as per dictionary

LUCKNOW DEVELOPMENT AUTHORITY,LUCKNOW vs. ASSISTANT COMMISSIONER OF INCOME TAX (EXEMPTION), LUCKNOW

In the result, all the appeals are partly allowed

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

6) SC 588, 625-26." (ii) Meaning and Concept of “Trade” and “Commerce” In the Commentary on Income Tax law by Chaturvedi & Pithisaria, "trade" and "commerce" have been defined as under (Page 1323; Vol 1; Fifth Edition): “Trade or Commerce- The definition of 'trade' does not find its place in the Act. The dictionary meaning of 'trade' as per dictionary

LUCKNOW DEVELOPMENT AUTHORITY ,LUCKNOW vs. DCIT (E), LUCKNOW

In the result, all the appeals are partly allowed

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

6) SC 588, 625-26." (ii) Meaning and Concept of “Trade” and “Commerce” In the Commentary on Income Tax law by Chaturvedi & Pithisaria, "trade" and "commerce" have been defined as under (Page 1323; Vol 1; Fifth Edition): “Trade or Commerce- The definition of 'trade' does not find its place in the Act. The dictionary meaning of 'trade' as per dictionary

LUCKNOW EVELOPMENT AUTHORITY,LUCKNOW vs. I.T.O., LUCKNOW

In the result, all the appeals are partly allowed

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

6) SC 588, 625-26." (ii) Meaning and Concept of “Trade” and “Commerce” In the Commentary on Income Tax law by Chaturvedi & Pithisaria, "trade" and "commerce" have been defined as under (Page 1323; Vol 1; Fifth Edition): “Trade or Commerce- The definition of 'trade' does not find its place in the Act. The dictionary meaning of 'trade' as per dictionary

LUCKNOW DEVELOPMENT AUTHORITY ,LUCKNOW vs. ACIT (E), LUCKNOW

In the result, all the appeals are partly allowed

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

6) SC 588, 625-26." (ii) Meaning and Concept of “Trade” and “Commerce” In the Commentary on Income Tax law by Chaturvedi & Pithisaria, "trade" and "commerce" have been defined as under (Page 1323; Vol 1; Fifth Edition): “Trade or Commerce- The definition of 'trade' does not find its place in the Act. The dictionary meaning of 'trade' as per dictionary

M/S. SAHARA CITY HOMES,ALIGARH vs. INCOME TAX OFFICER - 3(4), RANGE- 3, LUCKNOW

price thereof was to be determined mutually. Further, the valuation of the WIP is to be at the instance of the second party, who has been given the right to do so, if required. The valuation is not mandatory and, hence, the conclusion of the CIT(A) is not only irrelevant, but also incorrect. It is interesting to note that

M/S. SAHARA CITY HOMES,KURUKSHETRA vs. INCOME TAX OFFICER- 3(4), LUCKNOW

price thereof was to be determined mutually. Further, the valuation of the WIP is to be at the instance of the second party, who has been given the right to do so, if required. The valuation is not mandatory and, hence, the conclusion of the CIT(A) is not only irrelevant, but also incorrect. It is interesting to note that

M/S. SAHARA CITY HOMES,VADODARA vs. INCOME TAX OFFICER- 3(4), RANGE-3, LUCKNOW

price thereof was to be determined mutually. Further, the valuation of the WIP is to be at the instance of the second party, who has been given the right to do so, if required. The valuation is not mandatory and, hence, the conclusion of the CIT(A) is not only irrelevant, but also incorrect. It is interesting to note that

M/S. SAHARA CITY HOMES,MORADABAD vs. INCOME TAX OFFICER- 3(4), RANGE-3, LUCKNOW

price thereof was to be determined mutually. Further, the valuation of the WIP is to be at the instance of the second party, who has been given the right to do so, if required. The valuation is not mandatory and, hence, the conclusion of the CIT(A) is not only irrelevant, but also incorrect. It is interesting to note that

M/S. SAHARA CITY HOMES,GUWAHATI vs. ASSISTANT COMMISSIONER OF INCOME TAX, RANGE- 3, LUCKNOW

price thereof was to be determined mutually. Further, the valuation of the WIP is to be at the instance of the second party, who has been given the right to do so, if required. The valuation is not mandatory and, hence, the conclusion of the CIT(A) is not only irrelevant, but also incorrect. It is interesting to note that

M/S. SAHARA CITY HOMES,DEVAS vs. INCOME TAX OFFICER- 3(4), RANGE-3, LUCKNOW

price thereof was to be determined mutually. Further, the valuation of the WIP is to be at the instance of the second party, who has been given the right to do so, if required. The valuation is not mandatory and, hence, the conclusion of the CIT(A) is not only irrelevant, but also incorrect. It is interesting to note that

M/S. SAHARA CITY HOMES,AMRITSAR vs. INCOME TAX OFFICER- 3(4), LUCKNOW

price thereof was to be determined mutually. Further, the valuation of the WIP is to be at the instance of the second party, who has been given the right to do so, if required. The valuation is not mandatory and, hence, the conclusion of the CIT(A) is not only irrelevant, but also incorrect. It is interesting to note that

M/S. SAHARA CITY HOMES,KANPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, RANGE- 3, LUCKNOW

price thereof was to be determined mutually. Further, the valuation of the WIP is to be at the instance of the second party, who has been given the right to do so, if required. The valuation is not mandatory and, hence, the conclusion of the CIT(A) is not only irrelevant, but also incorrect. It is interesting to note that

M/S. SAHARA CITY HOMES,CHENNAI vs. ASSISTANT COMMISSIONER OF INCOME TAX, RANGE- 3, LUCKNOW

price thereof was to be determined mutually. Further, the valuation of the WIP is to be at the instance of the second party, who has been given the right to do so, if required. The valuation is not mandatory and, hence, the conclusion of the CIT(A) is not only irrelevant, but also incorrect. It is interesting to note that

M/S. SAHARA CITY HOMES,AMBALA vs. INCOME TAX OFFICER -3(4), RANGE-3, LUCKNOW

price thereof was to be determined mutually. Further, the valuation of the WIP is to be at the instance of the second party, who has been given the right to do so, if required. The valuation is not mandatory and, hence, the conclusion of the CIT(A) is not only irrelevant, but also incorrect. It is interesting to note that