DCIT,, GORAKHPUR vs. M/S MAHABIR JITE MILLS, LTD., GORAKHPUR

In the result, (i) the appeal of the assessee for AY 2009-10 is partly allowed and for AY 2020-21 is treated as allowed

Bench: Shri B.R. Baskaran (Am) & Shri Amit Shukla (Jm)

carrying on purchase operations of raw materials from Farbesganj. The assessee has maintained certain subsidiary books at that place, viz., Purchase memos, Satti Bahi (Purchase register), Cash book, consolidated ledger. The assessee explained the modus operandi adopted in recording transactions of purchases in the above said registers. The sum 7 The Mahabir Jute Mills Ltd A.Ys

THE MAHABIR JUTE MILLS LTD.,GORAKHPUR vs. ASST. DIRECTOR OF INCOME TAX, CPC, BENGALURU

In the result, (i) the appeal of the assessee for AY 2009-10 is partly allowed and for AY 2020-21 is treated as allowed

Bench: Shri B.R. Baskaran (Am) & Shri Amit Shukla (Jm)

carrying on purchase operations of raw materials from Farbesganj. The assessee has maintained certain subsidiary books at that place, viz., Purchase memos, Satti Bahi (Purchase register), Cash book, consolidated ledger. The assessee explained the modus operandi adopted in recording transactions of purchases in the above said registers. The sum 7 The Mahabir Jute Mills Ltd A.Ys

MOUSAMI CHOUDHURY,VARANASI vs. DY. CIT, RANGE - 2, VARANASI

In the result , the appeal filed the assessee in ITA No

Bench: Shri Vijay Pal Rao & Shri Ramit Kochar

loss account and balance sheet and the auditor's report 46[and, where an Assessment Years: 2009-10 & 2010-11 Mousami Choudhury, District Varanasi v. The Deputy Commissioner of Income Tax, Circle-2, Varanasi audit of cost accounts of the assessee has been conducted, under section 233B47 of the Companies Act, 1956 (1 of 1956), also the report under that

MOUSAMI CHOUDHURY,VARANASI vs. DY. CIT, RANGE - 02,, VARANASI

In the result , the appeal filed the assessee in ITA No

Bench: Shri Vijay Pal Rao & Shri Ramit Kochar

loss account and balance sheet and the auditor's report 46[and, where an Assessment Years: 2009-10 & 2010-11 Mousami Choudhury, District Varanasi v. The Deputy Commissioner of Income Tax, Circle-2, Varanasi audit of cost accounts of the assessee has been conducted, under section 233B47 of the Companies Act, 1956 (1 of 1956), also the report under that

RISHIKESH SHUKLA,SINGRAULI vs. ITO, WARD - III (1), MIRZAPUR

In the result, the appeal of the assessee is allowed for statistical purposes

Bench: Shri Ramit Kochar & Shri Pavan Kumar Gadaleassessment Year:2009-10 Shri Rishikesh Shukla, Income Tax Officer, S/O Shri K. P. Shukla, V. Ward-Iii(1), Sharma Colony, Mirzapur,U.P.. Waidhan,Singrauli-486886, Madhya Pradesh . Pan:Bcmps8094M (Appellant) (Respondent)

Loss Account despite several opportunities granted by the AO, which led AO to reject books of accounts u/s 145(3) of the 1961 Act . The AO also disallowed the claim of the assessee of Rs. 34,800/- under Chapter VIA of the 1961 Act. 5. Aggrieved by assessment framed by the AO, the assessee filed first appeal before learned

INCOME TAX OFFICER, WARD - 2 (1),, VARANASI vs. PROMINENT DATAMATICS MARKETING PVT. LTD., , VARANASI

Bench: Shri Kul Bharat & Shri Anadee Nath Misshra

carried an obligation only to explain the source of Rs. 2,73,59,647/- and in support of said loan, the appellant begs to submit a copy of ledger account as appearing in our books of account duly confirmed by the other party namely Babita Agarwal (Prop. Shree Balaj Construction Company). Copy of ledger account of Babita Agarwal (Prop. Shree

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.

carried out by Revenue under Section 133A of the Act, it is claimed by Revenue that several documents and retrieved of computer data backup etc. which were incriminating in nature as per annexures to the Survey Report drawn, were found and impounded by Revenue . The assessee filed its return of income for ay: 2017-18 ,on 7th November, 2017,returning

M/S. VARANASI DEVELOPMENT AUTHORITY,VARANASI vs. ASSISTANT COMMISSIONER OF INCOME TAX , VARANASI

In the result appeal filed by assessee in ITA no

Bench: Shri Vijay Pal Rao & Shri Ramit Kochar

carried on continuously in an organized manner with a set purpose and with a view to earn profit is business [CIT v. M.P. Bazaz, (1993) 200 ITR 131, 135, 136 (Ori)]. Also see, Khoday Distilleries Ltd. v. State of Karnataka, JT 1994 (6) SC 588, 625-26." (ii) Meaning and Concept of “Trade” and “Commerce” In the Commentary on Income

VARANASI DEVELOPMENT AUTHORITY,VARANASEE vs. ASSISTANT COMMISSIONER OF INCOME TAX (EXEMPTION), LUCKNOW

In the result appeal filed by assessee in ITA no

Bench: Shri Vijay Pal Rao & Shri Ramit Kochar

carried on continuously in an organized manner with a set purpose and with a view to earn profit is business [CIT v. M.P. Bazaz, (1993) 200 ITR 131, 135, 136 (Ori)]. Also see, Khoday Distilleries Ltd. v. State of Karnataka, JT 1994 (6) SC 588, 625-26." (ii) Meaning and Concept of “Trade” and “Commerce” In the Commentary on Income

VARANASI DEVELOPMENT AUTHORITY,VARANASEE vs. ASSISTANT COMMISSIONER OF INCOME TAX (EXEMPTION), LUCKNOW

In the result appeal filed by assessee in ITA no

Bench: Shri Vijay Pal Rao & Shri Ramit Kochar

carried on continuously in an organized manner with a set purpose and with a view to earn profit is business [CIT v. M.P. Bazaz, (1993) 200 ITR 131, 135, 136 (Ori)]. Also see, Khoday Distilleries Ltd. v. State of Karnataka, JT 1994 (6) SC 588, 625-26." (ii) Meaning and Concept of “Trade” and “Commerce” In the Commentary on Income

M/S. VARANASI DEVELOPMENT AUTHORITY,VARANASI vs. DEPUTY COMMISSIONER OF INCOME TAX (EXEMPTION), VARANASI

In the result appeal filed by assessee in ITA no

Bench: Shri Vijay Pal Rao & Shri Ramit Kochar

carried on continuously in an organized manner with a set purpose and with a view to earn profit is business [CIT v. M.P. Bazaz, (1993) 200 ITR 131, 135, 136 (Ori)]. Also see, Khoday Distilleries Ltd. v. State of Karnataka, JT 1994 (6) SC 588, 625-26." (ii) Meaning and Concept of “Trade” and “Commerce” In the Commentary on Income

SINGHAL AGENCIES,AZAMGARH vs. INCOME TAX OFFICER, WARD - 3(4), AZAMGARH

In the result, appeal of the assessee is partly allowed

forwarded to the email-id of the assessee which was not in regular use. Accordingly, the appellant was wholly unaware of the said appellate order dated 25.11.2021 having been uploaded on the e-portal. Later, when the return for the assessment year 2021- 22 was being uploaded by our counsel we came to know in the month of March

M/S BANARAS SWARN KALA KENDRA PVT. LTD.,,VARANASI vs. ACIT, CC, VARANASI

Bench: Shri Vijay Pal Rao & Shri Ramit Kocharassessment Year: 2011-12 M/S. Banaras Swarn Kala Kendra Pvt. Ltd., The Assistant Commissioner Of Ck-65/70A, Bari Piari, V. Income Tax, Varanasi-221002, U.P. Central Circle, Aaykar Bhawan, M A Road, Varanasi-221002, U.P. Pan:Aaccb1623M (Appellant) (Respondent) Assesseeby: Shri A.K. Pandey, Advocate Revenue By: Shri Neeraj Kumar, Cit Dr Date Of Hearing: 25.08.2022 Date Of Pronouncement: 21.11.2022

disallowance of bad debts amounting to Rs. 1,85,572/- is concerned, the tribunal dismissed the ground raised by asessee as not being pressed. The order of the tribunal dated 05.01.2021 is reproduced hereunder: “4. We have heard the rival parties and have gone through the material placed on record. We find that a search & seizure operation

OM PRAKASH JAISWAL,,GORAKHPUR vs. INCOME TAX OFFICER, WARD - 1(3),, GORAKHPUR

In the result, both the appeals of the assessee are partly allowed

Bench: Shri B.R. Baskaran (Am) & Shri Amit Shukla (Jm)

loss account filed for A.Y. 2013-14 the opening stock as on 1.4.2012 was shown at Rs. 88,02,119/-. There should not be any dispute that the value of closing stock shown as on 31.3.2012 shall constitute opening stock as on 1.4.2012. Thus the assessee has shown excess stock of Rs. 1,09,948/- in the opening stock

SHRI OM PRAKASH JAISWAL, PROP. M/S. JAISWAL TRADING COMPANY, ,GORAKHPUR vs. INCOME TAX OFFICER, WARD-1(3), GORAKHPUR

In the result, both the appeals of the assessee are partly allowed

Bench: Shri B.R. Baskaran (Am) & Shri Amit Shukla (Jm)

loss account filed for A.Y. 2013-14 the opening stock as on 1.4.2012 was shown at Rs. 88,02,119/-. There should not be any dispute that the value of closing stock shown as on 31.3.2012 shall constitute opening stock as on 1.4.2012. Thus the assessee has shown excess stock of Rs. 1,09,948/- in the opening stock