M.W.S. & CO.,BHADOHI vs. DY. C.I.T., RANGE - 1, VARANASI

In the result, both the appeals are allowed

Bench: Shri.Vijay Pal Rao & Shri Ramit Kocharassessment Year: 2018-19 & Assessment Year: 2019-20 M.W.S. & Co., Naya Bazar V. Dy. Commissioner Of Income Tax, Road, Bhadohi-221401, Uttar Central Processing Centre (Cpc), Pradesh, India Bengaluru [Jurisdictional Assessing Pan-Aaffm2003E Officer Being Dy./Assistant Commissioner Of Income Tax, Range-1, Varanasi, U.P. (Appellant) (Respondent)

1)(va) read with Explanation 1 and Section 2(24)(x) of the 1961 Act can be allowed and consequently there cannot be any question of entering further into Section 43B of the 1961 Act as the deduction at threshold level of Section 36(1)(va) of the 1961 Act is itself not available. This

M.W.S. & CO.,BHADOHI vs. DY. C.I.T., RANGE - 1, VARANASI

In the result, both the appeals are allowed

Bench: Shri.Vijay Pal Rao & Shri Ramit Kocharassessment Year: 2018-19 & Assessment Year: 2019-20 M.W.S. & Co., Naya Bazar V. Dy. Commissioner Of Income Tax, Road, Bhadohi-221401, Uttar Central Processing Centre (Cpc), Pradesh, India Bengaluru [Jurisdictional Assessing Pan-Aaffm2003E Officer Being Dy./Assistant Commissioner Of Income Tax, Range-1, Varanasi, U.P. (Appellant) (Respondent)

1)(va) read with Explanation 1 and Section 2(24)(x) of the 1961 Act can be allowed and consequently there cannot be any question of entering further into Section 43B of the 1961 Act as the deduction at threshold level of Section 36(1)(va) of the 1961 Act is itself not available. This

BHUPENDRA NATH PANDEY,VARANASI vs. ACIT, R - 03, VARANASI

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

Bench: Shrivijay Pal Rao & Shri Ramit Kocharassessment Year: 2018-19 Bhupendra Nath Pandey Assistant Director Of Income 6-159/27, Kashi Enclave V. Tax (Cpc), Centralized Colony, Pahadiya Sarnath, Processing Center , Varanasi-221007, U.P. Bengaluru-560500 (The Acit, Range-3, Varanasi, U.P.) Pan:Ajfpp1273J (Appellant) (Respondent)

section (v) is with respect to and confined to a gratuity fund and does not have any relevance here. We, hence, answer the other questions of law framed, also against the assessee and in favour of the Revenue. We dismiss the appeal, leaving the parties to suffer their respective costs." 10.3.10 Thus, it can be clearly seen that

LAWKUSH SHARMA,SONEBHADRA vs. INCOME TAX OFFICER, WARD - 3 (5), SONEBHADRA

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

Bench: Shrivijay Pal Rao & Shri Ramit Kocharassessment Year: 2018-19 Lawkush Sharma Assistant Director Of Income 14-495, V.V. Colony, V. Tax (Cpc), Centralized Shakti Nagar, Sonebhadra- Processing Center , 231222, U.P. Bengaluru-560500 Pan:Artps9822Q (Appellant) (Respondent)

Section 43B of the 1961 Act has a heading that certain deductions to be allowed only on actual payment basis and it starts with a non obstante clause that 'notwithstanding anything contained in any other provisions of this Act, a deduction otherwise allowable under this Act in respect of...'. Thus, it stipulates that deduction shall be allowed only

UTKARSH SMALL FINANCE BANK LTD.,VARANASI vs. NATIONAL E-ASSESSMENT CENTRE, DELHI

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

Bench: Shrivijay Pal Rao & Shri Ramit Kocharassessment Year: 2018-19 M/S. Utkarsh Small Finance National E-Assessment Centre, Bank Limited V. Delhi S-24/1-2, First Floor, Mahavir Nagar, Orderly Bazar, Near Mahavir Mandir, Varanasi- 221001, U.P. Pan:Aabcu9355J (Appellant) (Respondent)

1) of the 1961 Act. If we apply strict interpretation as is normally applied as there is no equity in tax laws, we have observed that the employee contribution received by an employer is treated as income under the provisions of Section 2(24)(x) of the 1961 Act , while deduction is allowed u/s 36(1)(va) read with

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

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 of Webster's New Twentieth Century Dictionary, (Second edition), means amongst others, 'A means of earning one's living, occupation or work'. In Black's Law Dictionary also ‘trade' means a business which

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

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 of Webster's New Twentieth Century Dictionary, (Second edition), means amongst others, 'A means of earning one's living, occupation or work'. In Black's Law Dictionary also ‘trade' means a business which

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

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 of Webster's New Twentieth Century Dictionary, (Second edition), means amongst others, 'A means of earning one's living, occupation or work'. In Black's Law Dictionary also ‘trade' means a business which

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

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 of Webster's New Twentieth Century Dictionary, (Second edition), means amongst others, 'A means of earning one's living, occupation or work'. In Black's Law Dictionary also ‘trade' means a business which

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

section 233B47 of the Companies Act, 1956 (1 of 1956), also the report under that section]; (f) where regular books of account are not maintained by the assessee, the return is accompanied by a statement indicating the amounts of turnover or, as the case may be, gross receipts, gross profit, expenses and net profit of the business

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

section 233B47 of the Companies Act, 1956 (1 of 1956), also the report under that section]; (f) where regular books of account are not maintained by the assessee, the return is accompanied by a statement indicating the amounts of turnover or, as the case may be, gross receipts, gross profit, expenses and net profit of the business

M/S AAKAR HOUSING DEVELOPERS PVT. LTD.,VARANASI vs. ACIT, CIR. - 02, VARANASI

In the result, the appeal of the assessee in ITA no

Bench: Shri Vijay Pal Rao & Shri Ramit Kocharassessment Year: 2013-14 M/S. Aakar Housing Assistant Commissioner Of Income Tax Developers Pvt. Ltd. V. Circle-2, B-21/62 , Kamachha, M.A. Road, Varanasi-221001, U.P. Varanasi, U.P. Pan:Aahca1616Q (Appellant) (Respondent)

1,36,000/ made by the A.O. is confirmed. 9. In the result, the appeal is dismissed.” 5. Aggrieved by the appellate order dated 08.11.2017 passed by ld. CIT(A), the assessee has filed second appeal with tribunal. The Learned counsel for the assessee opened arguments before the Division Bench of the tribunal . The ld. Counsel for the assessee submitted

DY. COMMISSIONER OF INCOME TAX, CIRCLE - 01,, VARANASI vs. SHRI RAJA RAM KHEMKA,, KOLKATA

In the result, the appeal of the Revenue in ITA No

Bench: Shri.Vijay Pal Rao & Shri Ramit Kocharassessment Year:2017-18 The Deputy Commissioner Of Shri Raja Ram Khemka Income-Tax, Circle-1, V. 11, Goenka Lane, Varanasi-211001, U.P. Shivtalla Street, Kolkatta-700007, West Bengal Pan:Airpk3661L (Appellant) (Respondent) Appellant By Shri A.K.Singh, Sr. Dr Respondent By Shri R S Shinghvi, Fca & Shri H.L.Sekhri, Fca Date Of Hearing 12/01/2023 Date Of Pronouncement 16/01/2023 O R D E R Per Shri Ramit Kochar: This Appeal In I.T.A. No.137/Vns/2020 For Assessment Year(Ay): 2017-18 Has Been Filed By Revenue Challenging Appellate Order Dated 27.08.2020 Passed By Learned Commissioner Of Income-Tax (Appeals), Varanasi (Hereinafter Called “Cit(A)” ) Under Section 250 Of The Income- Tax Act, 1961(Hereinafter Called “The Act”) In Appeal No. Cit(A)/Vns/10780/2019-20/64, The Appellate Proceedings Had Arisen Before Ld. Cit(A) From The Assessment Order Dated 26.12.2019 By The Ld. Assessing Officer (Hereinafter Called “The Ao”) U/S 143(3) Of The 1961 Act. This Appeals Was Heard In Open Court Proceedings Through Physical Hearing Mode.

1,55,00,534/- to the income of the assessee by invoking provisions of Section 68 read with Section 115BBE of the 1961 Act. The ld. CIT(A) deleted the entire additions. We have observed that the assessee has eight bank accounts, while the additions were restricted by AO to only five bank accounts, and that too with

THE MAHABIR JUTE MILLS LIMITED,GORAKHPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2 , 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)

Section 68 inasmuch as it is not in dispute that the creditors outstanding related to purchases and the trading results were accepted by the AO. We are, therefore, of the opinion that no substantial question of law arises for consideration in this case. The appeal is accordingly dismissed.” 8.7 Since the assessing officer, in the instant case, has assessed

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)

Section 68 inasmuch as it is not in dispute that the creditors outstanding related to purchases and the trading results were accepted by the AO. We are, therefore, of the opinion that no substantial question of law arises for consideration in this case. The appeal is accordingly dismissed.” 8.7 Since the assessing officer, in the instant case, has assessed

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2 , GORAKHPUR vs. THE MAHABIR JUTE MILLS LIMITED, 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)

Section 68 inasmuch as it is not in dispute that the creditors outstanding related to purchases and the trading results were accepted by the AO. We are, therefore, of the opinion that no substantial question of law arises for consideration in this case. The appeal is accordingly dismissed.” 8.7 Since the assessing officer, in the instant case, has assessed

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)

Section 68 inasmuch as it is not in dispute that the creditors outstanding related to purchases and the trading results were accepted by the AO. We are, therefore, of the opinion that no substantial question of law arises for consideration in this case. The appeal is accordingly dismissed.” 8.7 Since the assessing officer, in the instant case, has assessed

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.

15,991/- in sales between impounded document as well audited accounts, which were also sales not recorded properly and at the time of finalization and reconciliation with VAT returns, the same were entered. The ld. CIT(A) deleted the addition on the grounds that once AO has accepted the closing stock as per audited accounts, no small addition could

ABHAY KUMAR SHAHI,DEORIA vs. ITO, WARD - 3(4),, DEORIA

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

Bench: Shri.Vijay Pal Raoassessment Year: 2010-11 Shri Abhay Kumar Shahi, V. Income Tax Officer, Prop. Shahi Brick Field, Salempur, Ward-3(4), Deoria Deoria, U.P. Pan-Bipps5693R (Appellant) (Respondent) Appellant By: Sh. Subhash Chand & Sh. Ashutosh Bhardwaj, Advocates Respondent By: Sh. A.K. Singh, Sr. D.R. Date Of Hearing: 23.03.2022 Date Of Pronouncement: 23.03.2022

1. Because it is fully explained that the assessee had been engaged in carrying out the business of brick klin and the sale proceeds have been deposited in this bank account. The ld. Assessing Officer has erred and acted illegally in adding back Rs. 15,61,800/-, the total deposit in saving bank account as income under section 68