SRIRAM ENTERPRISES,BHAGALPUR vs. ASST COMMISSIONER OF INCOME TAX CENTRAL CIRCLE 1, PATNA, PATNA

house property,\nprofit of ₹12,16,69,526/- from business and ₹1,12,438/- as income\nfrom other sources. There are two partners of the assessee-firm namely,\n1. Shri Shiv Kumar Agarwal and 2. Shri Roshan Kumar Agarwal. The\nreturn was selected for complete scrutiny under Computer Assisted\nScrutiny Selection (in short 'CASS') and statutory notices

KAMLESH KUMAR,PATNA vs. ITO WARD- 6 (4), PATNA

In the result, the appeal filed by the assessee is allowed for\nstatistical purposes

Property Act, 1882,\nthus the capital Gain as assumed, ascertained and computed/calculated\nhypothetically by the Ld. A.O. only on the basis of so called development\nagreement and possibility of fulfilment of terms and conditions thereof has\ncaused miscarriage of justice which cannot be sustainable under the\nprovisions of law.\nAnd, in support of the above facts

KUMAR ARUNODAYA,PATNA vs. ASSISTANT COMMISSIONER OF INCOME TAX - 6, PATNA [NEW – DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE – 2, PATNA], PATNA

In the result, the appeals of the assessee are allowed, the appeals of the revenue is dismissed and the Cross-objections of the assessee are also dismissed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

73,811/-. The said revision was done in order to reduce the claim u/s 54EC and 54F against the declared long term capital gain on certain long term gain during the course of assessment proceedings. The AO observed that the assessee has taken unsecured loan of Rs. 34,00,000/- and accordingly called upon the assessee to furnish the details

KUMAR ARUNOSAYA,PATNA vs. A.O., CIRCLE-6, PATNA

In the result, the appeals of the assessee are allowed, the appeals of the revenue is dismissed and the Cross-objections of the assessee are also dismissed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

73,811/-. The said revision was done in order to reduce the claim u/s 54EC and 54F against the declared long term capital gain on certain long term gain during the course of assessment proceedings. The AO observed that the assessee has taken unsecured loan of Rs. 34,00,000/- and accordingly called upon the assessee to furnish the details

ACIT, CENTRAL CIRCLE-2, PATNA vs. KUMAR ARUNODAYA, PATNA

In the result, the appeals of the assessee are allowed, the appeals of the revenue is dismissed and the Cross-objections of the assessee are also dismissed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

73,811/-. The said revision was done in order to reduce the claim u/s 54EC and 54F against the declared long term capital gain on certain long term gain during the course of assessment proceedings. The AO observed that the assessee has taken unsecured loan of Rs. 34,00,000/- and accordingly called upon the assessee to furnish the details

DCIT, CIRCLE-4, PATNA vs. KUMAR ARUNODAYA, PATNA

In the result, the appeals of the assessee are allowed, the appeals of the revenue is dismissed and the Cross-objections of the assessee are also dismissed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

73,811/-. The said revision was done in order to reduce the claim u/s 54EC and 54F against the declared long term capital gain on certain long term gain during the course of assessment proceedings. The AO observed that the assessee has taken unsecured loan of Rs. 34,00,000/- and accordingly called upon the assessee to furnish the details

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

In the result, the appeals of the assessee are allowed, the appeals of the revenue is dismissed and the Cross-objections of the assessee are also dismissed

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

73,811/-. The said revision was done in order to reduce the claim u/s 54EC and 54F against the declared long term capital gain on certain long term gain during the course of assessment proceedings. The AO observed that the assessee has taken unsecured loan of Rs. 34,00,000/- and accordingly called upon the assessee to furnish the details

SRIRAM ENTERPRISES,PATNA vs. PCIT (CENTRAL), PATNA

In the result, the appeal of the assessee is allowed

Bench: Dr. Manish Borad & Shri Sonjoy Sarmai.T.A. No. 76/Pat/2023 Assessment Year: 2018-2019 Sriram Enterprises,………………………..........Appellant C/O. Nirmal & Associates, Nepali Kothi, Opposite Gasoline Petrol Pump, Boring Road, Patna-800001 [Pan:Aarfs8853J] -Vs.- Principal Commissioner Of Income Tax (Central), Patna,…………………………………..……………..Respondent, Bihar-800001 Appearances By: Shri Nishant Maitin, C.A., Appeared On Behalf Of The Assessee Md. A.H. Chowdhary, Cit (D.R.), Appeared On Behalf Of The Revenue Date Of Concluding The Hearing : 5Th March, 2024 Date Of Pronouncing The Order: May 8Th, 2024 O R D E R

Housing Projects Limited (2012) 343 ITR 329, we need to inquire the facts of the case. Firstly, we examine whether ld. PCIT has rightly assumed jurisdiction under section 263 of the Act. Now for assuming jurisdiction ld. PCIT has to satisfy himself whether the order of ld. Assessing Officer is erroneous in so far as it is prejudicial