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4 results for “section 68”+ Section 94(7)clear

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Key Topics

Section 684Section 139(1)4Section 36(1)(va)4Section 434Addition to Income4Section 143(3)3Limitation/Time-bar3Section 143(2)2Section 142(1)2

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

ITA 137/VNS/2020[2017-2018]Status: DisposedITAT Varanasi16 Jan 2023AY 2017-2018

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.

Section 115BSection 142(1)Section 143(2)Section 143(3)Section 250Section 68
Section 143(1)2
Deduction2
Disallowance2

Section 68, the additions to the aggregating to the tune of Rs. 1,55,00,534/- were made by the AO. It was submitted that ld. CIT(A) deleted the entire additions as were made by the AO. At the outset ld. Sr. DR submitted that there is a breach of Rule 46A of the Income-tax Rules

DY. COMMISSIONER OF INCOME TAX, CIRCLE - 01,, VARANASI vs. SHRI GANESH PRASAD,, VARANASI

The appeal of the Revenue is allowed for statistical purposes

ITA 138/VNS/2020[2017-2018]Status: DisposedITAT Varanasi07 Feb 2023AY 2017-2018

Bench: Shri Vijay Pal Rao & Shri Ramit Kocharassessment Year: 2017-18 The Deputy Commissioner Of Income - Mr. Ganesh Prasad, Tax, V. S-6/108, Golghar Katchhari, Circle-1, Aayakarbhawan, Varanasi-221002, U.P. Maqboolalam Road Varanasi-221002, U.P.

For Appellant: Shri Subash Chand Adv. & Sh. Ashutosh BhardwajFor Respondent: Shri A.K. Singh, Sr. DR
Section 142(1)Section 143(2)Section 143(3)Section 69A

94 ITR 616 wherein at page 650 the Hon'ble court observed and held as under:- "Now, it is significant that section 69A speaks of "found to be the owner of........bullion.......". It does not say "found to be in possession, of bullion........." If the legislature had intended that mere possession of gold, etc., would cast an obligation

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

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 are the literal and strict interpretation of provisions

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

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 are the literal and strict interpretation of provisions