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

6) SC 588, 625-26." (ii) Meaning and Concept of “Trade” and “Commerce” In the Commentary on Income Tax law by Chaturvedi&Pithisaria, "trade" and "commerce" have been defined as under (Page 1323; Vol 1; Fifth Edition): “Trade or Commerce- The definition of 'trade' does not find its place in the Act. The dictionary meaning of 'trade' as per dictionary

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

6) SC 588, 625-26." (ii) Meaning and Concept of “Trade” and “Commerce” In the Commentary on Income Tax law by Chaturvedi&Pithisaria, "trade" and "commerce" have been defined as under (Page 1323; Vol 1; Fifth Edition): “Trade or Commerce- The definition of 'trade' does not find its place in the Act. The dictionary meaning of 'trade' as per dictionary

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

6,667/- b) (Rs. 12x26,00,000/-) x 1 x 4 100 12 30 = Rs. 3,467/- c) Total Disallowance in case of TCDL Rs. 10,134/- Therefore, total disallowance on account of section 36(i)(iii) of the Act, turns out to be Rs. 12,10,134/-. In light of the facts presented in preceding paras, proportionate amount

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

6,667/- b) (Rs. 12x26,00,000/-) x 1 x 4 100 12 30 = Rs. 3,467/- c) Total Disallowance in case of TCDL Rs. 10,134/- Therefore, total disallowance on account of section 36(i)(iii) of the Act, turns out to be Rs. 12,10,134/-. In light of the facts presented in preceding paras, proportionate amount

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

6) To raise the moral and economic standard of the shareholders. (7) Generally to do all or such other things as are incidental and conducive to the attainment of the above objects.” 7. The assessee filed its return of income for the assessment year 2009-10 on 30th September, 2009 declaring total income at nil after claiming deduction /exemption under

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

6) To raise the moral and economic standard of the shareholders. (7) Generally to do all or such other things as are incidental and conducive to the attainment of the above objects.” 7. The assessee filed its return of income for the assessment year 2009-10 on 30th September, 2009 declaring total income at nil after claiming deduction /exemption under

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

6) To raise the moral and economic standard of the shareholders. (7) Generally to do all or such other things as are incidental and conducive to the attainment of the above objects.” 7. The assessee filed its return of income for the assessment year 2009-10 on 30th September, 2009 declaring total income at nil after claiming deduction /exemption under

DY. C. I. T., CIRCLE - 1, GORAKHPUR vs. BARODA UTTAR PRADESH GRAMIN BANK NOW AMALGAMATED WITH BARODA U.P. BANK, GORAKHPUR

In the result, the appeals of the Revenue are dismissed and the Cross Objections of the assessee are allowed

Bench: Shri. B. R. Baskaran & Shri Amit Shukla

disallowed and added back to the total income. Penalty notice u/s 271(1) (c) is being issued separately. 6. Section 22 and 32 of the Regional Rural Banks Act, 1976 provides as under:- 22. Regional Rural Bank to be deemed to be a cooperative society for purpose of the Income Tax Act, 1961.- For the purpose of the Income

DY. C. I. T., CIRCLE - 1, GORAKHPUR vs. BARODA UTTAR PRADESH GRAMIN BANK NOW AMALGAMATED WITH BARODA U.P. BANK, GORAKHPUR

In the result, the appeals of the Revenue are dismissed and the Cross Objections of the assessee are allowed

Bench: Shri. B. R. Baskaran & Shri Amit Shukla

disallowed and added back to the total income. Penalty notice u/s 271(1) (c) is being issued separately. 6. Section 22 and 32 of the Regional Rural Banks Act, 1976 provides as under:- 22. Regional Rural Bank to be deemed to be a cooperative society for purpose of the Income Tax Act, 1961.- For the purpose of the Income

DY. C. I. T., CIRCLE - 1, GORAKHPUR vs. BARODA UTTAR PRADESH GRAMIN BANK NOW AMALGAMATED WITH BARODA U.P. BANK, GORAKHPUR

In the result, the appeals of the Revenue are dismissed and the Cross Objections of the assessee are allowed

Bench: Shri. B. R. Baskaran & Shri Amit Shukla

disallowed and added back to the total income. Penalty notice u/s 271(1) (c) is being issued separately. 6. Section 22 and 32 of the Regional Rural Banks Act, 1976 provides as under:- 22. Regional Rural Bank to be deemed to be a cooperative society for purpose of the Income Tax Act, 1961.- For the purpose of the Income

DY. C. I. T., CIRCLE - 1, GORAKHPUR vs. BARODA UTTAR PRADESH GRAMIN BANK NOW AMALGAMATED WITH BARODA U. P.. BANK, GORAKHPUR

In the result, the appeals of the Revenue are dismissed and the Cross Objections of the assessee are allowed

Bench: Shri. B. R. Baskaran & Shri Amit Shukla

disallowed and added back to the total income. Penalty notice u/s 271(1) (c) is being issued separately. 6. Section 22 and 32 of the Regional Rural Banks Act, 1976 provides as under:- 22. Regional Rural Bank to be deemed to be a cooperative society for purpose of the Income Tax Act, 1961.- For the purpose of the Income

DY. C. I. T., CIRCLE - 1, GORAKHPUR vs. BARODA UTTAR PRADESH GRAMIN BANK NOW AMALGAMATED WITH BARODA U.P. BANK, GORAKHPUR

In the result, the appeals of the Revenue are dismissed and the Cross Objections of the assessee are allowed

Bench: Shri. B. R. Baskaran & Shri Amit Shukla

disallowed and added back to the total income. Penalty notice u/s 271(1) (c) is being issued separately. 6. Section 22 and 32 of the Regional Rural Banks Act, 1976 provides as under:- 22. Regional Rural Bank to be deemed to be a cooperative society for purpose of the Income Tax Act, 1961.- For the purpose of the Income

DY. C. I. T., CIRCLE - 1, GORAKHPUR vs. BARODA UTTAR PRADESH GRAMIN BANK NOW AMALGAMATED WITH BARODA U.P. BANK, GORAKHPUR

In the result, the appeals of the Revenue are dismissed and the Cross Objections of the assessee are allowed

Bench: Shri. B. R. Baskaran & Shri Amit Shukla

disallowed and added back to the total income. Penalty notice u/s 271(1) (c) is being issued separately. 6. Section 22 and 32 of the Regional Rural Banks Act, 1976 provides as under:- 22. Regional Rural Bank to be deemed to be a cooperative society for purpose of the Income Tax Act, 1961.- For the purpose of the Income

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

Bench: Shri Kul Bharat & Shri Anadee Nath Misshra

10-2019 for compliance on or before 14-10-2019 but there has been no compliance with notice too. A show cause notice was issued on 04-11-2019 for compliance on or before 11-11-2019 but, there has been no compliance again. You are aware that the proceedings u/s 143(3) of the Act is time barred