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27 results for “section 68”+ Section 40clear

Sorted by relevance

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Key Topics

Section 143(3)32Section 40A(3)28Section 36(1)(va)25Section 14820Section 139(1)18Addition to Income18Section 14717Section 6815Section 143(1)12

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

ITA 351/ALLD/2014[2009-10]Status: DisposedITAT Varanasi16 Nov 2023AY 2009-10

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

Section 133ASection 143(3)Section 14ASection 4Section 40A(3)

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

Showing 1–20 of 27 · Page 1 of 2

Deduction12
Disallowance8
Reopening of Assessment5

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

ITA 448/ALLD/2014[2009-10]Status: DisposedITAT Varanasi16 Nov 2023AY 2009-10

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

Section 133ASection 143(3)Section 14ASection 4Section 40A(3)

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

ITA 217/ALLD/2017[2014-15]Status: DisposedITAT Varanasi16 Nov 2023AY 2014-15

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

Section 133ASection 143(3)Section 14ASection 4Section 40A(3)

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

ITA 13/VNS/2023[2020-2021]Status: DisposedITAT Varanasi16 Nov 2023AY 2020-2021

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

Section 133ASection 143(3)Section 14ASection 4Section 40A(3)

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

M/S U TOLL CORPORATION LTD.,,VARANASI vs. ACIT, CIRCLE - 02, VARANASI

In the result, the appeal of the assessee is dismissed

ITA 107/VNS/2018[2013-2014]Status: DisposedITAT Varanasi07 Jun 2022AY 2013-2014

Bench: Hon’Ble Sh.Vijay Pal Rao & Hon’Ble Sh. Ramit Kocharassessment Year: 2013-14 M/S U Toll Corporation Ltd., V. The Asstt. Commissioner Of Samne Ghat, Lanka, Varanasi, U.P. Income Tax, Circle-2, Pan-Aaacu6429Q Varanasi, U.P. (Assessee) (Respondent) Assessee By: None Respondent By: Sh. A.K. Singh, Sr. D.R. Date Of Hearing: 25.05.2022 Date Of Pronouncement: 07.06.2022

For Appellant: NoneFor Respondent: Sh. A.K. Singh, Sr. D.R
Section 44ASection 68

section 68 of the Act in respect of M/s U Toll Corporation Ltd. unsecured loan from two loan creditors of Rs. 40

SURENDRA NATH SINGH,,GHAZIPUR vs. ITO, WARD - 3(5), GHAZIPUR

In the result, the appeal of the assessee is allowed

ITA 60/VNS/2018[2010-2011]Status: DisposedITAT Varanasi25 Jul 2022AY 2010-2011

Bench: Shri.Vijay Pal Raoassessment Year: 2010-11 Surendra Nath Singh, V. Income Tax Officer, Tilak Nagar Colony, Mahuabagh, Ward-3(5), Ghazipur Ghazipur-233001 Pan-Bphps5975K (Appellant) (Respondent) Appellant By: Sh. Apramay Gabhawala, Ca Respondent By: Sh. A.K. Singh, Sr. D.R. Date Of Hearing: 05.07.2022 Date Of Pronouncement: 25.07.2022 O R D E R

For Appellant: Sh. Apramay Gabhawala, CAFor Respondent: Sh. A.K. Singh, Sr. D.R
Section 133(6)Section 68

68 is wrong ignoring the document filed before the learned CIT(A) on which remand report was called for and the replies filed in compliance to notice u/s. 133(6) on 27.12.17 by three parties Kalanath, Manish, Samrath Singh before the A.O. The documents filed before learned CIT(A) are as under:- (a) Surjeet Singh - Aadhaar Card, 3 Khatauni

KAMAL KUMAR AGRAWAL (HUF),VARANASI vs. A.C.I.T., C.C.,, VARANASI

In the result, appeal filed by the assessee in ITA NO

ITA 36/VNS/2022[2013-2014]Status: DisposedITAT Varanasi13 Jan 2023AY 2013-2014

Bench: Shrivijay Pal Rao & Shri Ramit Kocharassessment Year:2013-14 Assessment Year:2015-16 Assessment Year:2017-18 Assessment Year:2014-15 Assessment Year:2016-17 Kamal Kumar Agrawal (Huf) A.C.I.T., 46, Jawahar Nagar Extension, V. Central Circle, Bhelupur, Varanasi-221005,U.P. Varanasi. Pan:Aaghk4211B (Appellant) (Respondent)

Section 132Section 139Section 143(2)Section 143(3)Section 147Section 148Section 44ASection 68

40 & 41/VNS/2022 Kamal Kumar Agrawal (HUF) v. ACIT,Central Circle, Varanasi 3 Rs.2,09,155/-, wherein two additions were made by AO; firstly, u/s 68 on bogus income u/s 44AD and second addition was made u/s 68 on bogus LTCG, vide assessment order dated 29.12.2020 passed u/s 147 read with Section

KAMAL KUMAR AGRAWAL (HUF),VARANASI vs. A.C.I.T., C.C., VARANASI

In the result, appeal filed by the assessee in ITA NO

ITA 37/VNS/2022[2015-2016]Status: DisposedITAT Varanasi13 Jan 2023AY 2015-2016

Bench: Shrivijay Pal Rao & Shri Ramit Kocharassessment Year:2013-14 Assessment Year:2015-16 Assessment Year:2017-18 Assessment Year:2014-15 Assessment Year:2016-17 Kamal Kumar Agrawal (Huf) A.C.I.T., 46, Jawahar Nagar Extension, V. Central Circle, Bhelupur, Varanasi-221005,U.P. Varanasi. Pan:Aaghk4211B (Appellant) (Respondent)

Section 132Section 139Section 143(2)Section 143(3)Section 147Section 148Section 44ASection 68

40 & 41/VNS/2022 Kamal Kumar Agrawal (HUF) v. ACIT,Central Circle, Varanasi 3 Rs.2,09,155/-, wherein two additions were made by AO; firstly, u/s 68 on bogus income u/s 44AD and second addition was made u/s 68 on bogus LTCG, vide assessment order dated 29.12.2020 passed u/s 147 read with Section

KAMAL KUMAR AGRAWAL (HUF),VARANASI vs. A.C.I.T., C.C., VARANASI

In the result, appeal filed by the assessee in ITA NO

ITA 38/VNS/2022[2017-2018]Status: DisposedITAT Varanasi13 Jan 2023AY 2017-2018

Bench: Shrivijay Pal Rao & Shri Ramit Kocharassessment Year:2013-14 Assessment Year:2015-16 Assessment Year:2017-18 Assessment Year:2014-15 Assessment Year:2016-17 Kamal Kumar Agrawal (Huf) A.C.I.T., 46, Jawahar Nagar Extension, V. Central Circle, Bhelupur, Varanasi-221005,U.P. Varanasi. Pan:Aaghk4211B (Appellant) (Respondent)

Section 132Section 139Section 143(2)Section 143(3)Section 147Section 148Section 44ASection 68

40 & 41/VNS/2022 Kamal Kumar Agrawal (HUF) v. ACIT,Central Circle, Varanasi 3 Rs.2,09,155/-, wherein two additions were made by AO; firstly, u/s 68 on bogus income u/s 44AD and second addition was made u/s 68 on bogus LTCG, vide assessment order dated 29.12.2020 passed u/s 147 read with Section

KAMAL KUMAR AGRAWAL (HUF),VARANASI vs. A.C.I.T., C.C., VARANASI

In the result, appeal filed by the assessee in ITA NO

ITA 40/VNS/2022[2014-2015]Status: DisposedITAT Varanasi13 Jan 2023AY 2014-2015

Bench: Shrivijay Pal Rao & Shri Ramit Kocharassessment Year:2013-14 Assessment Year:2015-16 Assessment Year:2017-18 Assessment Year:2014-15 Assessment Year:2016-17 Kamal Kumar Agrawal (Huf) A.C.I.T., 46, Jawahar Nagar Extension, V. Central Circle, Bhelupur, Varanasi-221005,U.P. Varanasi. Pan:Aaghk4211B (Appellant) (Respondent)

Section 132Section 139Section 143(2)Section 143(3)Section 147Section 148Section 44ASection 68

40 & 41/VNS/2022 Kamal Kumar Agrawal (HUF) v. ACIT,Central Circle, Varanasi 3 Rs.2,09,155/-, wherein two additions were made by AO; firstly, u/s 68 on bogus income u/s 44AD and second addition was made u/s 68 on bogus LTCG, vide assessment order dated 29.12.2020 passed u/s 147 read with Section

KAMAL KUMAR AGRAWAL (HUF),VARANASI vs. A.C.I.T., C.C., VARANASI

In the result, appeal filed by the assessee in ITA NO

ITA 41/VNS/2022[2016-2017]Status: DisposedITAT Varanasi13 Jan 2023AY 2016-2017

Bench: Shrivijay Pal Rao & Shri Ramit Kocharassessment Year:2013-14 Assessment Year:2015-16 Assessment Year:2017-18 Assessment Year:2014-15 Assessment Year:2016-17 Kamal Kumar Agrawal (Huf) A.C.I.T., 46, Jawahar Nagar Extension, V. Central Circle, Bhelupur, Varanasi-221005,U.P. Varanasi. Pan:Aaghk4211B (Appellant) (Respondent)

Section 132Section 139Section 143(2)Section 143(3)Section 147Section 148Section 44ASection 68

40 & 41/VNS/2022 Kamal Kumar Agrawal (HUF) v. ACIT,Central Circle, Varanasi 3 Rs.2,09,155/-, wherein two additions were made by AO; firstly, u/s 68 on bogus income u/s 44AD and second addition was made u/s 68 on bogus LTCG, vide assessment order dated 29.12.2020 passed u/s 147 read with Section

M/S RUGS MART,VARANASI vs. DCIT, CIRCLE - 03, VARANASI

In the result, appeal filed by the assesseeis in ITA No

ITA 21/VNS/2021[2018-2019]Status: DisposedITAT Varanasi07 Jul 2022AY 2018-2019

Bench: Shrivijay Pal Rao & Shri Ramit Kocharassessment Year: 2018-19 Rugs Mart Deputy Commissioner Of Barhi Ewada V. Income Tax (Cpc), Centralized District Varanasi-221207 Processing Center , U.P. Bengaluru-560500 (The Dcit , Circle-3, Varanasi, U.P.) Pan:Aalfr4883R (Appellant) (Respondent)

For Appellant: Sh. R.K.N.Jaiswal,AdvocateFor Respondent: Sh. A.K. Singh, Sr. DR
Section 139(1)Section 143(1)Section 143(1)(a)Section 2(24)(x)Section 36(1)(va)Section 43B

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

M/S AVANTIKA INFRAVENTURE (P) LTD.,,ALLAHABAD vs. DCIT, CENTRAL CIRCLE,, VARANASI

In the result, the appeals of the assessee for the Assessment Years

ITA 22/VNS/2020[2012-2013]Status: DisposedITAT Varanasi13 Oct 2022AY 2012-2013

Bench: Shri.Vijay Pal Rao & Shri Ramit Kochar

For Appellant: NoneFor Respondent: Sh. R.K. Vishwakarma, CIT DR
Section 153ASection 234ASection 36

68,00,000/- has been given to M/s Magic Bricks Pvt. Ltd. Total amount of interest claimed by the assessee as per Audit Report is Rs. 40,48,349/-. Therefore, interest at a rate of 12% is being disallowed and added back to the income of the assessee. Calculation of disallowance u/s 36(i)(iii) of the Income

M/S AVANTIKA INFRAVENTURE (P) LTD.,,ALLAHABAD vs. DCIT, CENTRAL CIRCLE,, VARANASI

In the result, the appeals of the assessee for the Assessment Years

ITA 23/VNS/2020[2013-2014]Status: DisposedITAT Varanasi13 Oct 2022AY 2013-2014

Bench: Shri.Vijay Pal Rao & Shri Ramit Kochar

For Appellant: NoneFor Respondent: Sh. R.K. Vishwakarma, CIT DR
Section 153ASection 234ASection 36

68,00,000/- has been given to M/s Magic Bricks Pvt. Ltd. Total amount of interest claimed by the assessee as per Audit Report is Rs. 40,48,349/-. Therefore, interest at a rate of 12% is being disallowed and added back to the income of the assessee. Calculation of disallowance u/s 36(i)(iii) of the Income

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

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

ITA 29/VNS/2021[2018-2019]Status: DisposedITAT Varanasi07 Jul 2022AY 2018-2019

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)

For Appellant: Sh. Nikhil Tiwari, AdvocateFor Respondent: Sh. A.K. Singh, Sr. DR
Section 139(1)Section 143(2)Section 143(3)Section 144BSection 2(24)(x)Section 36(1)(va)

Section 2(24)(x) of the 1961 Act , while deduction is allowed u/s 36(1)(va) read with Explanation of the amount received by an employer from employees as their contribution which stood deposited by employer to the credit of employee with relevant fund on or before the due date as is prescribed under relevant statute governing PF/ESI

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

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

ITA 23/VNS/2021[2018-2019]Status: DisposedITAT Varanasi07 Jul 2022AY 2018-2019

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)

For Appellant: Sh. K.R.Tiwari, AdvocateFor Respondent: Sh. A.K. Singh, Sr. DR
Section 139(1)Section 143(1)Section 2(24)(x)Section 36(1)(va)Section 43B

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

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

In the result, both the appeals are allowed

ITA 24/VNS/2021[2018-2019]Status: DisposedITAT Varanasi19 Apr 2022AY 2018-2019

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)

For Appellant: Sh. Ashish Bansal, AdvFor Respondent: Sh. A.K. Singh, Sr. DR
Section 139(1)Section 143(1)Section 36(1)Section 36(1)(va)Section 43Section 43B

40 and noted the following observations:— 'If the order refusing leave to appeal is a speaking order, i.e., gives reasons for refusing the grant of leave, then the order has two implications. Firstly, the statement of law contained in the order is a declaration of law by the Supreme Court within the meaning of article 141 of the Constitution. Secondly

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

In the result, both the appeals are allowed

ITA 25/VNS/2021[2019-2020]Status: DisposedITAT Varanasi19 Apr 2022AY 2019-2020

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)

For Appellant: Sh. Ashish Bansal, AdvFor Respondent: Sh. A.K. Singh, Sr. DR
Section 139(1)Section 143(1)Section 36(1)Section 36(1)(va)Section 43Section 43B

40 and noted the following observations:— 'If the order refusing leave to appeal is a speaking order, i.e., gives reasons for refusing the grant of leave, then the order has two implications. Firstly, the statement of law contained in the order is a declaration of law by the Supreme Court within the meaning of article 141 of the Constitution. Secondly

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

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

ITA 214/VNS/2019[2009-2010]Status: DisposedITAT Varanasi28 Dec 2022AY 2009-2010

Bench: Shri Vijay Pal Rao & Shri Ramit Kochar

For Appellant: Sh.ArvindShukla, Adv. & Sh. AsimZafar, AdvFor Respondent: ShriA.K. Singh, Sr.DR
Section 143(2)Section 144Section 144rSection 147Section 148

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

ITA 213/VNS/2019[201-2011]Status: DisposedITAT Varanasi28 Dec 2022

Bench: Shri Vijay Pal Rao & Shri Ramit Kochar

For Appellant: Sh.ArvindShukla, Adv. & Sh. AsimZafar, AdvFor Respondent: ShriA.K. Singh, Sr.DR
Section 143(2)Section 144Section 144rSection 147Section 148

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