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

In the result, appeal of the assessee is allowed

2,00,000/- in August 2012 and sold them for Rs. 50,38,904/-during FY 2014- 15 and thus earned capital gain of Rs. 48,38,904. This means that the price of the shares of the company M/s Kailash Auto Finance Ltd. increased by 2419%. This increase of about 2400% is unusual and does not happen even

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

In the result, appeal of the assessee is allowed

2,00,000/- in August 2012 and sold them for Rs. 50,38,904/-during FY 2014- 15 and thus earned capital gain of Rs. 48,38,904. This means that the price of the shares of the company M/s Kailash Auto Finance Ltd. increased by 2419%. This increase of about 2400% is unusual and does not happen even

ANJU JHUNJHUNWALA,VARANASI vs. PCIT, VARANASI

In the result, appeal of the assessee is allowed

2,00,000/- in August 2012 and sold them for Rs. 50,38,904/-during FY 2014- 15 and thus earned capital gain of Rs. 48,38,904. This means that the price of the shares of the company M/s Kailash Auto Finance Ltd. increased by 2419%. This increase of about 2400% is unusual and does not happen even

M/S JAI AMBE AGRICULTURAL INDUSTRIES,VARANASI vs. D.C.I.T., CIRCLE - 2(1), VARANASI

In the result, the appeal filed by the assessee stands dismissed

Bench: Shri Ramit Kochar & Shri Pavan Kumar Gadaleassessment Year: 2019-2020 M/S Jai Ambe Agricultural The Dcit, Industries, Plot No. 211, V. Circle-2(1), Aayakar Bhawan, M A Marg, Churamanpur, Varanasi- Varanasi-221002,U.P. 221108,U.P. ( The Adi, Cpc, Bengaluru) Pan:Aahfj9428N (Appellant) (Respondent)

2(24)(x) as to the head of income under which it will fall for being taxed. Section 14 provides head of income , wherein the income shall fall for being taxed depending upon nature of income such as Salaries, Rent, Business/ Professional Income , Capital gains

SHAMIMUL FATIMA,GORAKHPUR vs. ACIT, RANGE - 02, GORAKHPUR

In the result the appeal of the assessee is allowed

2) of the Act that the capital gains should be deposited in the CGAS scheme is merely an enabling provision. If the assessee shows during assessment proceedings that the capital gains have been reinvested in the new residential house, exemption cannot be denied merely the amount was not deposited in the CGAS. In this case it is a fact that

RADHEY SHYAM,AGRA vs. INCOME TAX OFFICER, WARD 2(3), VARANASI

In the result, the appeal of the assesseein ITA No

Bench: Shrivijay Pal Rao & Shri Ramit Kocharassessment Year:2012-13 Shriradheyshyam Income Tax Officer, 308, Sector 16, Avasvikas Colony V. Ward-2(3),Aayakarbhawan, Sikandra,Agra-282007, U.P.. Maqboolalam Road Pan:Aikps7948H Varanasi-221002,U.P.. (Appellant) (Respondent)

Section 148 of the Act. In this appeal, the assessee has raised following grounds of appeal in Memo of Appeal filed with Income Tax Appellate Tribunal, Circuit Bench, Varanasi, U.P.: “1. That the A.O. has failed to issue notice u/s 143(2) which is mandatory requirement as such assessment is illegal and ab initio void. 2. That the addition made

MEENA DEVI,BALLIA vs. INCOME TAX OFFICER, WARD - 2(4), BALLIA

In the result, appeal of the assessee is allowed

Bench: The Ld. Cit (A) It Was Challenged That Taking The Sale Consideration As Per The Stamp Valuation Authority U/S.50C Is Beyond The Scope Of Section 143(1)(A) & There Is No Such Provision Mentioned In Provision (I) To (Vi) To Make Such An Adjustment. Further, It Was Contended That The Assessee Had Disputed The Valuation U/S.50C Before The Ld. Ao In The Petition For Rectification U/S. 154, However, Same Has Not Been Accepted. However, The Ld. Cit (A) Has Confirmed The Addition On The Ground That The Provision Of Section 50C Is Clear That The Value Has To Be Taken As Per The Stamp Valuation Authority & Therefore, The Ld. Ao Has Rightly Made The Adjustment.

capital gain in the return of income filed. The return filed on 31/08/2019 was 2 Meena Devi processed u/s. 143(1), wherein adjustment was made by taking the value of sale consideration as per Section

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

GORAKH NATH YADAV,VARANASI vs. ITA, WARD - 3(4), VARANASI

In the result, appeal of the assessee is allowed

2 That since the appellant has been prevented by sufficient cause in not presenting the appeal before your honour within due date.” 3. After considering the aforesaid reason, we find that there was reasonable cause for delay in filing the appeal, therefore, the delay in filing of the appeal is condoned and the appeal is admitted for hearing