ACIT, PATNA vs. NEW ERA SOCIAL DEVELOPMENT WELFARE SOCIETY, PATNA

Appeal is treated as allowed for statistical purposes

80,39,300/- or u/s 10(23C)(iiiad) or any other section in ITR s the assessee had not filed the Form 10B under section 12A(1)(b). In view of the clear admission on the part of the assessee that it has not filed Form 10B, the assessee is not entitled to exemption u/s.11/12

VEENA MISHRA THROUGH NITISH MISHRA,PATNA vs. ACIT, CENT.CIR-1, PATNA, PATNA

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

Bench: Shri Sonjoy Sarma & Shri Rakesh Mishra

section 234A, 234B and 234C of the income tax Act, 1961 on the total income as computed in the orders of assessment and Ld. CIT Appeal erred in confirming the same. 15. For that the order of the assessment so passed by the assessing officer and the appellate order passed by the Ld. CIT Appeal is otherwise arbitrary and illegal

ITO, WARD-2(1), PATNA vs. M/S SUN COMTECH PVT LTD, PATNA

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

Bench: Shri George Mathan & Shri Rakesh Mishra

capital gains but is a business transaction. The counter party are the same and the Ld. AO is only taking the loss and not the profit but the profit is higher than the loss. It was stated that the net profit of ₹14,79,589/- is already accounted for. The assessee traded in Jute, Copper, Aluminium, Nickel and Zinc

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