PANKAJ KUMAR GUPTA,AZAMGARH vs. ITO WARD3(1), INCOME TAX OFFICE AZAMGARH

In the result, both the appeals of the assessee stand allowed for statistical purposes

Bench: Shri. Sudhanshu Srivastava

144 of the Act, the AO treated the cash deposits of Rs.14,92,400/- made by the assessee in his bank account during the year under consideration as his unexplained income and added the same to the total income of the assessee. Apart from this, the AO also added a sum of Rs.6,120/- to the total income

SANJAY TIWARI,GORAKHPUR vs. INCOME TAX OFFICER, WARD - 2(1), GORAKHPUR

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

Bench: Shri. Vijay Pal Rao & Shri Ramit Kocharassessment Year: 2015-16 Sanjay Tiwari V. The Ito Prop. Tiwari Automobiles Ward 2(1) Bewari Chowk, Gola Bazar Gorakhpur Gorakhpur Pan:Agupt4822H (Appellant) (Respondent) Appellant By: None Respondent By: Shri A. K. Singh, D.R. Date Of Hearing: 09 02 2023 Date Of Pronouncement: 13 02 2023 O R D E R

section 144 of the Act on 23.12.2017, whereby the income of the assessee was assessed by applying the net profit rate @ 8% on the total deposits in the Bank account of the assessee to the tune of Rs.1,08,62,500/-. Thus, the Assessing Officer has assessed the total income of the assessee at Rs.8.69 lakhs as against the returned

BYAS PRASAD VERMA,KUSHINAGAR vs. INCOME TAX OFFICER, WARD - 2(4), KUSHINAGAR

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

Bench: Shri. Sudhanshu Srivastavaassessment Year: 2012-13 Byas Prasad Verma V. The Income Tax Officer Vill. Dhaurahara Ward 2(4) Nadwa Bishunpur Kushinagar Fazilnagar, Kushinagar (U.P) Tan/Pan:Amupv6031E (Appellant) (Respondent) Appellant By: None Respondent By: Smt Amandeep Kaur, D.R. O R D E R This Appeal Has Been Preferred By The Assessee Against The Order Dated 26.07.2023, Passed By The National Faceless Appeal Centre (Nfac), Delhi For Assessment Year 2012-13. 2.0 The Brief Facts Of The Case Are That The Assessee Had Not Filed His Return Of Income For The Year Under Consideration. The Income Tax Department Was In Possession Of Information That The Assessee Had Made Cash Deposits To The Tune Of Rs.16,45,000/- In His Saving Bank Account. In Order To Examine These Facts, The Assessing Officer (Ao) Reopened The Case Of The Assessee Under Section 147 Of The Income Tax Act, 1961 (Hereinafter Called “The Act’) After Issuing Notice Under Section 148 Of The Act. Thereafter, The Ao Issued Statutory Notices To The Assessee, Requiring The Assessee To Furnish The Source Of Cash

penalty proceedings under sections 271(1)(c) and 271(1)(b)of the Act, separately. 2.2 Aggrieved, the assessee preferred an appeal before the NFAC, which dismissed the appeal of the assessee ex-parte qua the assessee. 2.3 Now, the assessee has approached this Tribunal challenging the orders of the AO as well as the NFAC by raising the following

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

Penalty proceedings u/s 271AAA is being initiated separately on this point. (Addition of Rs. 8,06,04,299/-) That is how the addition of Rs. 8,06,04,299/- was made by the AO, which was the first addition made by the AO , w.r.t. differential in value of stock based on seized material vis-à-vis stock found