ANJU JHUNJHUNWALA,VARANASI vs. PCIT, VARANASI

In the result, appeal of the assessee is allowed

prices of the company M/s. Rander Corporation Ltd. has increased from Rs.1.3/-per share to the range of Rs.49-59/- per share within a period of two years and therefore, AO should not have accepted that such abnormal and unrealistic transaction as genuine of their face value without enquiring about the incriminating material collected by the Investigation Wing and thereafter

SARVESH KUMAR AGARWAL HUF,VARANASI vs. PCIT,, VARANASI

In the result, appeal of the assessee is allowed

prices of the company M/s. Rander Corporation Ltd. has increased from Rs.1.3/-per share to the range of Rs.49-59/- per share within a period of two years and therefore, AO should not have accepted that such abnormal and unrealistic transaction as genuine of their face value without enquiring about the incriminating material collected by the Investigation Wing and thereafter

VISHAL KANODIA,VARANASI vs. PCIT,, VARANASI

In the result, appeal of the assessee is allowed

prices of the company M/s. Rander Corporation Ltd. has increased from Rs.1.3/-per share to the range of Rs.49-59/- per share within a period of two years and therefore, AO should not have accepted that such abnormal and unrealistic transaction as genuine of their face value without enquiring about the incriminating material collected by the Investigation Wing and thereafter

GOPI KRISHNA VINOD KUMAR HUF,GORAKHPUR vs. PCIT,, GORAKHPUR

In the result, appeal of the assessee is allowed

prices of the company M/s. Rander Corporation Ltd. has increased from Rs.1.3/-per share to the range of Rs.49-59/- per share within a period of two years and therefore, AO should not have accepted that such abnormal and unrealistic transaction as genuine of their face value without enquiring about the incriminating material collected by the Investigation Wing and thereafter

VINOD KUMAR SARAF HUF,GORAKHPUR vs. PCIT,, GORAKHPUR

In the result, appeal of the assessee is allowed

prices of the company M/s. Rander Corporation Ltd. has increased from Rs.1.3/-per share to the range of Rs.49-59/- per share within a period of two years and therefore, AO should not have accepted that such abnormal and unrealistic transaction as genuine of their face value without enquiring about the incriminating material collected by the Investigation Wing and thereafter

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.

price of unregistered purchase is already less than other purchases there remains no scope for suppression of profit in this respect. I have gone through the facts and circumstances of the case. Appellant submitted the reconciliation of the value of the stock found during the survey with the value of actual stock as per audited statement and no adverse inference

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

transfer of the assets for charitable purposes should be irrevocable, which as per AO is not fulfilled in the case of the assessee. The AO observed that the assessee is neither in the field of education , nor in the field of medical relief of poor and at the most the assessee’s objects and activities could be said

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

transfer of the assets for charitable purposes should be irrevocable, which as per AO is not fulfilled in the case of the assessee. The AO observed that the assessee is neither in the field of education , nor in the field of medical relief of poor and at the most the assessee’s objects and activities could be said

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

transfer of the assets for charitable purposes should be irrevocable, which as per AO is not fulfilled in the case of the assessee. The AO observed that the assessee is neither in the field of education , nor in the field of medical relief of poor and at the most the assessee’s objects and activities could be said

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

transfer of the assets for charitable purposes should be irrevocable, which as per AO is not fulfilled in the case of the assessee. The AO observed that the assessee is neither in the field of education , nor in the field of medical relief of poor and at the most the assessee’s objects and activities could be said

MANISH JAISWAL,GORAKHPUR vs. ADDL. CIT, (TDS), ALLAHABAD

Bench: Shri Vijay Pal Rao & Shri Ramit Kocharassessment Year: 2016-17 Mr. Manish Jaiswal, Addl.Cit (Tds), Prop. New Manish Medical V. Allahabad-211001, U.P. Agencies Pashupati Market, Gandhi Park, Gorakhpur, U.P. Pan: Akdpj7675D (Appellant) (Respondent)

transfer of immovable property(other than agricultural land). Show cause notice (SCN) dated 20.03.2019 was issued by the AO u/s 271C read with Section 274 of the 1961 Act, through email and also by Registered post, show-causing assessee as to why penalty u/s 271C be not levied for aforesaid failure. The assessee did not responded to aforesaid SCN , which

INDRA NARAYAN TRIPATHI,GORAKHPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, RANGE - 02,, GORAKHPUR

In the result, appeal filed by the assessee in ITA

Bench: Shri Vijay Pal Rao & Shri Ramit Kochar

price. 10. We have considered rival contentions and perused the material on record. We have observed that the assessee is an individual who is engaged in wholesale trading of Galla items i.e., Paddy, Rice and Wheat etc., as a 10 ITA.No.05/VNS/2020 Sri Indra Narayan Tripathi, Gorakhpur. Assessment Year 2014-15 proprietorship concern in the name and style