INCOME TAX OFFICER-3(4), KANPUR vs. SHRI SANTOSH KUMAR AGARWAL, KANPUR

In the result, the appeal of the Revenue is dismissed

Bench: Shri T. S. Kapoor

cash credit entries. The Hon'ble Jodhpur Tribunal had the occasion to consider a case in respect of similar type of share transaction. The decision reported in 13 SOT 61 in the case of ITO vs. Smt. Kusum Lata wherein the Hon'ble Bench held that the share transaction was not bogus. The Hon'ble Bench confirmed the order

MOHD. ASFAND AKHTAR,KANPUR vs. DEPUTI COMMISSIONER OF INCOME TAX CC-2, KANPUR

In the result, the appeal of Revenue in ITA

Bench: Shri Sudhanshu Srivastava & Shri Anadee Nath Misshraassessment Year: 2018-19 Dcit, Cc-2 V. Shri Mohammad Asfand Laxmi Niwas, 10/503, Akhtar Allenganj, Kanpur-208001. Plot No.02, Block-B, Scheme-39, Ram Rai Ki Sarai, Jajmau, Kanpur Nagar-208010. Tan/Pan: Aempa0823R (Appellant) (Respondent) Assessment Year: 2018-19 Shri Mohammad Asfand Akhtar V. Dcit, Central Circle-Ii Plot No.02, Block-B, Scheme-39, 10/503, Allenganj, Kanpur- Ram Rai Ki Sarai, Jajmau, 208001. Kanpur Nagar-208010. Tan/Pan: Aempa0823R (Appellant) (Respondent) Appellant By: Shri Ashish Jaiswal, Advocate Respondent By: Shri R. K. Agarwal, Cit(Dr) O R D E R

cash was paid and cheques were received in lieu of commission paid through his CA Mr. Manish Agarwal, The details of bogus unsecured loans received by assessee is given as under- ………………………. …………………………… In assessment year under consideration an amount of Rs.4,70,50,000/- arranged through M/s Wise Financial Advisor Services Pvt. Ltd. on a commission

DY.COMMISSIONER OF INCOME TAX,CC-2,, KANPUR vs. SHRI.MOHAMMAD ASFAND AKHTAR, KANPUR

In the result, the appeal of Revenue in ITA

Bench: Shri Sudhanshu Srivastava & Shri Anadee Nath Misshraassessment Year: 2018-19 Dcit, Cc-2 V. Shri Mohammad Asfand Laxmi Niwas, 10/503, Akhtar Allenganj, Kanpur-208001. Plot No.02, Block-B, Scheme-39, Ram Rai Ki Sarai, Jajmau, Kanpur Nagar-208010. Tan/Pan: Aempa0823R (Appellant) (Respondent) Assessment Year: 2018-19 Shri Mohammad Asfand Akhtar V. Dcit, Central Circle-Ii Plot No.02, Block-B, Scheme-39, 10/503, Allenganj, Kanpur- Ram Rai Ki Sarai, Jajmau, 208001. Kanpur Nagar-208010. Tan/Pan: Aempa0823R (Appellant) (Respondent) Appellant By: Shri Ashish Jaiswal, Advocate Respondent By: Shri R. K. Agarwal, Cit(Dr) O R D E R

cash was paid and cheques were received in lieu of commission paid through his CA Mr. Manish Agarwal, The details of bogus unsecured loans received by assessee is given as under- ………………………. …………………………… In assessment year under consideration an amount of Rs.4,70,50,000/- arranged through M/s Wise Financial Advisor Services Pvt. Ltd. on a commission

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

unexplained credit received by the assessee under section 68 of the Act and added the same to the total income of the assessee. 3. The assessee filed an appeal against the aforesaid order of the AO dated 28th December, 2017 before CIT(A). The assessee raised a specific ground that the assessment with respect to the AY 2011-12 stood

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

unexplained credit received by the assessee under section 68 of the Act and added the same to the total income of the assessee. 3. The assessee filed an appeal against the aforesaid order of the AO dated 28th December, 2017 before CIT(A). The assessee raised a specific ground that the assessment with respect to the AY 2011-12 stood

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

unexplained credit received by the assessee under section 68 of the Act and added the same to the total income of the assessee. 3. The assessee filed an appeal against the aforesaid order of the AO dated 28th December, 2017 before CIT(A). The assessee raised a specific ground that the assessment with respect to the AY 2011-12 stood

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

In the result, the appeals of the assessees are partly allowed

Bench: Shri. A. D. Jain & Shri T. S. Kapoorassessment Year: 2012-13 M/S Sahara City Homes – Bareilly V. Ito-3(4) 2, Sahara India Centre Range 3 Kapoorthala Complex Lucknow Aliganj, Lucknow Tan/Pan:Abzfs2472C (Appellant) (Respondent) Assessment Year: 2012-13 M/S Sahara City Homes – Amritsar V. Ito-3(4) 2, Sahara India Centre Lucknow Tan/Pan:Abzfs4654E (Appellant) (Respondent) Assessment Year: 2012-13 M/S Sahara City Homes – Kanpur(I) V. Acit 2, Sahara India Centre Range 3 Kapoorthala Complex Lucknow Aliganj, Lucknow Tan/Pan:Abzfs2468Q (Appellant) (Respondent) Assessment Year: 2012-13 M/S Sahara City Homes – Guwahati V. Acit 2, Sahara India Centre Range 3 Kapoorthala Complex Lucknow Aliganj, Lucknow Tan/Pan:Abzfs2462E (Appellant) (Respondent)

cash credit, which was confirmed by the ld. CIT(A). This has been challenged by way of Ground no.2 before us. 12. Further, during the year under consideration, the assessee had also spent an amount of Rs.5,42,86,466/- towards WIP, as reflected in the assessee’s financials for the year under consideration. Disbelieving this transaction, the Assessing Officer

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

unexplained cash credits u/s 68 of the Income Tax Act. (viii) Thus the assessee appears to have not been able to substantiate the cash availability leading upto 08/11/2016, the day the govt. announced demonetization. Few details furnished appear to be fabricated one just to show inflated cash balance as on 08/11/2016. In view of facts narrated above, what

INCOME TAX OFFICER-1(3), KANPUR vs. SHRI RAJ KUMAR AGARWAL, KANPUR

In the result, both the appeals of the Revenue are dismissed

Bench: Shri T.S. Kapoor

cash credit entries. The Hon'ble Jodhpur Tribunal had the occasion to consider a case in respect of similar type of share transaction. The decision reported in 13 SOT 61 in the case of ITO vs. Smt. Kusum Lata wherein the Hon'ble Bench held that the share transaction was not bogus. The Hon'ble Bench confirmed the order

NETPLAST PVT.LTD.,KANPUR vs. ACIT CIRCLE 2(3)(1), KANPUR

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

transferred in her account received from M/s Netplast Pvt Ltd. Further on 11.07.2013, she\ndeposited Rs.82,00,000.00 in cash in her account, and on 17.07.2013 she got a cheque of Rs.33,00,000.00\ntransferred in her account received from M/s Netplast Pvt Ltd.\nHer bank account itself signifies that she has received Rs.83,00,000.00 on those very days

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