VISHAL KANODIA,VARANASI vs. PCIT,, VARANASI

In the result, appeal of the assessee is allowed

c. Copy of Bank statement showing payment of Rs.2,00,000 201 vide Cheque No.029354, dated 11.08.2012, for purchase of shares in Panchshul Marketing Ltd. d. Copy of De-mat Account, held with Stock holding 202-204 Corporation of India, a Government of India undertaking, showing credit of Shares therein, consequent to amalgamation of Panchshul Marketing Ltd. with Careful Advisory

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

In the result, appeal of the assessee is allowed

c. Copy of Bank statement showing payment of Rs.2,00,000 201 vide Cheque No.029354, dated 11.08.2012, for purchase of shares in Panchshul Marketing Ltd. d. Copy of De-mat Account, held with Stock holding 202-204 Corporation of India, a Government of India undertaking, showing credit of Shares therein, consequent to amalgamation of Panchshul Marketing Ltd. with Careful Advisory

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

In the result, appeal of the assessee is allowed

c. Copy of Bank statement showing payment of Rs.2,00,000 201 vide Cheque No.029354, dated 11.08.2012, for purchase of shares in Panchshul Marketing Ltd. d. Copy of De-mat Account, held with Stock holding 202-204 Corporation of India, a Government of India undertaking, showing credit of Shares therein, consequent to amalgamation of Panchshul Marketing Ltd. with Careful Advisory

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

27 February, 2001, Hon'ble Supreme Court of India observed that gross interest received on fixed deposit is income in nature and taxable. Thus, the amount of Rs. 24,03,763/- is included in net profit as income from other sources u/s 56 of Income Tax Act 1951, Penalty proceeding u/s 271(1) (c) is initiated separately for furnishing inaccurate