SITARAM SULTANIA,PATNA vs. DCIT/ACIT, CIR-6, PATNA, PATNA

Appeal of the assessee is partly allowed

Bench: SHRI DUVVURU RL REDDY, VICE PRESIDENT SHRI RAJESH KUMAR (Accountant Member)

capital gain on sale of the said property at Rs. 2,71,630/- and offered the same to tax in the return of income. On the request of the assessee, the AO referred the matter to DVO and the DVO valued the property under Section

XAVIERS CONSTRUCTION PVT LTD,PATNA vs. ITO WARD- 2 (2), PATNA

In the result, the appeal of the assessee is dismissed

Bench: Shri Duvvuru Rl Reddy, Vice-(Kz) & Shri Sanjay Awasthii.T.A. No. 349/Pat/2023 Assessment Year: 2015-2016 Xaviers Construction Pvt. Limited,....……Appellant House No. 239, Lodipur, Patna-800001, Bihar [Pan:Aaacx0342D] -Vs.- Income Tax Officer,………………………….....Respondent Ward-2(2), Patna Appearances By: Shri Anjan Biswas, Fca, Appeared On Behalf Of The Assessee Shri Ashwani Kr. Singal, Jcit, Appeared On Behalf Of The Revenue Date Of Concluding The Hearing: February 13, 2025 Date Of Pronouncing The Order: March 21, 2025 O R D E R

section 143(2) and 142(1) of the Income Tax Act were issued and served upon the assessee. During the scrutiny proceedings, the ld. Assessing Officer has observed that the appellant has earned income on account of sale of three flats. The ld. Assessing Officer further observed that during the financial year 2014-15, the assesee had recognized income

PRABHAT KUMAR,PATNA vs. ACIT, CIRCLE-4, PATNA

Appeal is allowed\nfor statistical purposes

capital gain, notwithstanding the fact that the\nappellant has given sufficient documentary evidences before the Id assessing\nofficer to substantiate the claim of cost of improvement.\n10. For that the Id. Commissioner of Income Tax (Appeal) as well as the Id.\nassessing officer, without given sufficient opportunity, has erred in estimating the\nprofit at Rs.1,12,71

MASUDAN TANTI,BHAGALPUR vs. CIT, NFAC, DELHI

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

Bench: Shri Sanjay Garg & Shri Rakesh Mishraassessment Year: 2013-14

capital account etc. A copy of the notice u/s 142(1) dated 02.12.2021 was also got served physically through the Verification Unit but despite being provided with several opportunities, no compliance was made nor any reply was filed. Meanwhile, information was collected from UCO Bank and it was found that the total amount credited in the bank account

I.T.O. vs. M/S KUMAR CONSTRUCLTION,

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

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Rajesh Kumar

gains of business or profession’ or “income from other sources” shall be determined according to the method of accountancy followed by the assessee, but such method ought to be in accordance with the conditions enumerated in sub- clause (2) of this section. The sub-clause (2) further provides that Central Government would notify in its Official Gazette from time