VISHAL KANODIA,VARANASI vs. PCIT,, VARANASI

In the result, appeal of the assessee is allowed

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 enquiries or information should have been sought

GOPI KRISHNA VINOD KUMAR HUF,GORAKHPUR vs. PCIT,, GORAKHPUR

In the result, appeal of the assessee is allowed

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 enquiries or information should have been sought

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

In the result, appeal of the assessee is allowed

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 enquiries or information should have been sought

M/S AVANTIKA INFRAVENTURE (P) LTD.,,ALLAHABAD vs. DCIT, CENTRAL CIRCLE,, VARANASI

In the result, the appeals of the assessee for the Assessment Years

Bench: Shri.Vijay Pal Rao & Shri Ramit Kochar

capital borrowed for the purposes of the business or profession" has to be allowed as a deduction in computing the income tax under Section 28 of the Act. 20. In Madhav Prasad Jantia vs. Commissioner of Income Tax U.P. AIR 1979 SC 1291, this Court held that the expression "for the purpose of business" occurring under the provision is wider

M/S AVANTIKA INFRAVENTURE (P) LTD.,,ALLAHABAD vs. DCIT, CENTRAL CIRCLE,, VARANASI

In the result, the appeals of the assessee for the Assessment Years

Bench: Shri.Vijay Pal Rao & Shri Ramit Kochar

capital borrowed for the purposes of the business or profession" has to be allowed as a deduction in computing the income tax under Section 28 of the Act. 20. In Madhav Prasad Jantia vs. Commissioner of Income Tax U.P. AIR 1979 SC 1291, this Court held that the expression "for the purpose of business" occurring under the provision is wider

M/S RAJENDRA PRASAD SRIVASTAVA,AZAMGARH vs. ACIT, RANGE - AZAMGARH, AZAMGARH

In the result, the appeal of the assessee is dismissed

Bench: Shri.Vijay Pal Rao & Shri Ramit Kocharassessment Year: 2013-14 M/S Rajendra Prasad Srivastava, Vs. Asstt. Commissioner Of Income Sarfuddinpur, Near Railway Tax, Range-Azamgarh Station, Azamgarh-276001 Pan-Aakfr2986A (Appellant) (Respondent) Appellant By: Sh.Hari N. Singh Bisen, C.A. Respondent By: Sh. A.K. Singh, Sr. Dr Date Of Hearing: 11.01.2023 Date Of Pronouncement: 07.02.2023

section 145(2) is also a decision inasmuch as it amounts to un acceptance of the method of accounting on the ground that the income, profits and gains can be properly deduced therefrom. It is therefore open to the AAC to reject the assessee's books of account which have been accepted by the ITO. Hence, the books of account