VISHAL KANODIA,VARANASI vs. PCIT,, VARANASI

In the result, appeal of the assessee is allowed

section 10(38) is that the consideration should be realized on transfer of long term capital asset in the form of shares and STT must have been paid on the same. In the instant case the said condition has been fully satisfied. Further the case laws as quoted by the assessee also fully support the case of the assessee

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

In the result, appeal of the assessee is allowed

section 10(38) is that the consideration should be realized on transfer of long term capital asset in the form of shares and STT must have been paid on the same. In the instant case the said condition has been fully satisfied. Further the case laws as quoted by the assessee also fully support the case of the assessee

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

In the result, appeal of the assessee is allowed

section 10(38) is that the consideration should be realized on transfer of long term capital asset in the form of shares and STT must have been paid on the same. In the instant case the said condition has been fully satisfied. Further the case laws as quoted by the assessee also fully support the case of the assessee

N.E. RAILWAY EMPLOYEES MULTI STATE PRIMARY COOPARATIVE BANK LTD.,,GORAKHPUR vs. ACIT, RANGE - 01,, GORAKHPUR

In the result, the appeals of the assessee for the assessment years 2009-

Bench: Hon’Ble Sh. Vijay Pal Rao & Hon’Ble Sh. Ramit Kocharay: 2009-10 Ay: 2013-14 Ay: 2014-15 N.E. Railway Employees Multi State V. Acit, Primary Co-Operative Bank Ltd., Range-1, Gorakhpur Railway Colony, Mohaddipur Road, Gorakhpur, U.P. Pan-Aaajn0595P (Appellant) (Respondent) Appellant By: Anil Kumar Pandey, Advocate Respondent By: Sh. A.K. Singh, Sr. D.R. Date Of Hearing: 24.05.2022 Date Of Pronouncement: 09.06.2022 O R D E R

22. Explanation.—For the purposes of this section, an "urban consumers' co-operative society" means a society for the benefit of the consumers within the limits of a municipal corporation, municipality, municipal committee, notified area committee, town area or cantonment. (3) In a case where the assessee is entitled also to the deduction under [***] [section 80HH] [or section 80HHA

N.E. RAILWAY EMPLOYEES MULTI STATE PRIMARY CO-OPRATIVE BANK LTD., ,GORAKHPUR vs. ACIT, RANGE - 01,, GORAKHPUR

In the result, the appeals of the assessee for the assessment years 2009-

Bench: Hon’Ble Sh. Vijay Pal Rao & Hon’Ble Sh. Ramit Kocharay: 2009-10 Ay: 2013-14 Ay: 2014-15 N.E. Railway Employees Multi State V. Acit, Primary Co-Operative Bank Ltd., Range-1, Gorakhpur Railway Colony, Mohaddipur Road, Gorakhpur, U.P. Pan-Aaajn0595P (Appellant) (Respondent) Appellant By: Anil Kumar Pandey, Advocate Respondent By: Sh. A.K. Singh, Sr. D.R. Date Of Hearing: 24.05.2022 Date Of Pronouncement: 09.06.2022 O R D E R

22. Explanation.—For the purposes of this section, an "urban consumers' co-operative society" means a society for the benefit of the consumers within the limits of a municipal corporation, municipality, municipal committee, notified area committee, town area or cantonment. (3) In a case where the assessee is entitled also to the deduction under [***] [section 80HH] [or section 80HHA

N.E. RAILWAY EMPLOYEES MULTI STATE PRIMARY COOPERATIVE BANK LTD.,,GORAKHPUR vs. ACIT, RANGE - 01, GORAKHPUR

In the result, the appeals of the assessee for the assessment years 2009-

Bench: Hon’Ble Sh. Vijay Pal Rao & Hon’Ble Sh. Ramit Kocharay: 2009-10 Ay: 2013-14 Ay: 2014-15 N.E. Railway Employees Multi State V. Acit, Primary Co-Operative Bank Ltd., Range-1, Gorakhpur Railway Colony, Mohaddipur Road, Gorakhpur, U.P. Pan-Aaajn0595P (Appellant) (Respondent) Appellant By: Anil Kumar Pandey, Advocate Respondent By: Sh. A.K. Singh, Sr. D.R. Date Of Hearing: 24.05.2022 Date Of Pronouncement: 09.06.2022 O R D E R

22. Explanation.—For the purposes of this section, an "urban consumers' co-operative society" means a society for the benefit of the consumers within the limits of a municipal corporation, municipality, municipal committee, notified area committee, town area or cantonment. (3) In a case where the assessee is entitled also to the deduction under [***] [section 80HH] [or section 80HHA

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