VISHAL KANODIA,VARANASI vs. PCIT,, VARANASI

In the result, appeal of the assessee is allowed

38) duly supported by relevant case laws 320-322 10. Copy of Assessment order dated 21.07.2017 under section 143(3). 11. Copy of Show cause notice issued under section 263,dated 323-326 05.02.2020. 327-338 12. Reply to above show cause notice on 02.03.2020 24. Ld. Counsel further submitted that, nowhere ld. PCIT has commented as to what further

ANJU JHUNJHUNWALA,VARANASI vs. PCIT, VARANASI

In the result, appeal of the assessee is allowed

38) duly supported by relevant case laws 320-322 10. Copy of Assessment order dated 21.07.2017 under section 143(3). 11. Copy of Show cause notice issued under section 263,dated 323-326 05.02.2020. 327-338 12. Reply to above show cause notice on 02.03.2020 24. Ld. Counsel further submitted that, nowhere ld. PCIT has commented as to what further

VINOD KUMAR SARAF HUF,GORAKHPUR vs. PCIT,, GORAKHPUR

In the result, appeal of the assessee is allowed

38) duly supported by relevant case laws 320-322 10. Copy of Assessment order dated 21.07.2017 under section 143(3). 11. Copy of Show cause notice issued under section 263,dated 323-326 05.02.2020. 327-338 12. Reply to above show cause notice on 02.03.2020 24. Ld. Counsel further submitted that, nowhere ld. PCIT has commented as to what further

DY. COMMISSIONER OF INCOME TAX, CIRCLE - 01,, VARANASI vs. M/S RATANDEEP GOLD & DIAMOND PVT. LTD., CHANDAULI

Bench: Shri Vijay Pal Rao & Shri Ramit Kocharassessment Year: 2017-18 The Deputy Commissioner M/S Ratandeep Gold & Diamond Of Income Tax, V. Pvt. Ltd. Circle-1, M A Road, 19, New Mohal, Varanasi-211001, U.P. Near Balika Inter College, Mugalsarai, Chandauli- 232101, U.P. Pan:Aahcr4764Q (Appellant) (Respondent) C.O. No. 02/Vns/2021 (Arising Out Of Ita No. 136/Vns/2020) Assessment Year: 2017-18 M/S Ratandeep Gold & The Deputy Commissioner Of Diamond Pvt. Ltd. V. Income Tax,Circle-1, M.A. Road 19, New Mohal, Varanasi-211001, U.P. Near Balika Inter College, Mugalsarai, Chandauli- 232101, U.P.

38,773.25, while as per audited Balance sheet as at 31.03.2017, cash in hand is merely Rs. 27,252.98, which clearly reflects that cash was reduced to the extent of Rs.11,11,520.27 by incorporating bogus expenses in books of accounts to suppress profits and reduce tax liability. The presumption u/s 292C shall apply that the impounded material belong

DY. COMMISSIONER OF INCOME TAX, CIRCLE - 01,, VARANASI vs. SHRI GANESH PRASAD,, VARANASI

The appeal of the Revenue is allowed for statistical purposes

Bench: Shri Vijay Pal Rao & Shri Ramit Kocharassessment Year: 2017-18 The Deputy Commissioner Of Income - Mr. Ganesh Prasad, Tax, V. S-6/108, Golghar Katchhari, Circle-1, Aayakarbhawan, Varanasi-221002, U.P. Maqboolalam Road Varanasi-221002, U.P.

10, 2016 to December 30, 2016” The purpose of demonetization of old bank notes of denomination of Rs. 500 and Rs. 1000 by withdrawing its legal tender character , was to curb the menace of fake notes and black money. However , to allow genuine and bonafide people not to suffer due to the sudden demonetization of these old bank notes