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

business ,and hence the transfer is not an irrevocable transfer which is meant exclusively for charitable purposes. The AO observed that transfer of assets are revocable and Sections 11 and 12 of the 1961 Act will have no application. The AO referred to provisions of Section 11(1) of the 1961 Act and observed that it is subject to provisions

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

business ,and hence the transfer is not an irrevocable transfer which is meant exclusively for charitable purposes. The AO observed that transfer of assets are revocable and Sections 11 and 12 of the 1961 Act will have no application. The AO referred to provisions of Section 11(1) of the 1961 Act and observed that it is subject to provisions

KAHM PROPERTIES PVT. LTD.,VARANASI vs. DC/ACIT, CENTRAL CIRCLE, VARANASI

In the result, the appeal of the assessee is allowed

Bench: Shri. B. R. Baskaran & Shri Amit Shuklaassessment Year:2018-19 M/S Kahm Properties Pvt. Ltd. V. The Dc/Acit B-21/192, Kamaccha Central Circle Varanasai Varanasi Tan/Pan:Aacck7739F (Appellant) (Respondent) Appellant By: Shri V. K. Jindal Respondent By: Shri A. K. Singh, D.R. Date Of Hearing: 26 09 2023 Date Of Pronouncement: 29 09 2023

business premises of the assessee. In the survey proceedings, the assessee admitted certain undisclosed income, amounting to Rs.15,89,684/- on account of undisclosed rent received on lawn booking. The assessee has also paid due taxes on the admitted income. Thereafter, the assessee’s case was selected for scrutiny and notice under section 143(2) of the Act was issued

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

ANJU JHUNJHUNWALA,VARANASI vs. PCIT, VARANASI

In the result, appeal of the assessee is allowed

business trust] where- (a) The transaction of sale of such equity share or unit is entered into on or after the date on which Chapter VII of the Finance (No.2) Act, 2004 comes into force, and (b) Such transaction is chargeable to securities transaction tax under that chapter." "Provided that the income by way of long-term capital gain

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

In the result, appeal of the assessee is allowed

business trust] where- (a) The transaction of sale of such equity share or unit is entered into on or after the date on which Chapter VII of the Finance (No.2) Act, 2004 comes into force, and (b) Such transaction is chargeable to securities transaction tax under that chapter." "Provided that the income by way of long-term capital gain

VISHAL KANODIA,VARANASI vs. PCIT,, VARANASI

In the result, appeal of the assessee is allowed

business trust] where- (a) The transaction of sale of such equity share or unit is entered into on or after the date on which Chapter VII of the Finance (No.2) Act, 2004 comes into force, and (b) Such transaction is chargeable to securities transaction tax under that chapter." "Provided that the income by way of long-term capital gain

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

In the result, appeal of the assessee is allowed

business trust] where- (a) The transaction of sale of such equity share or unit is entered into on or after the date on which Chapter VII of the Finance (No.2) Act, 2004 comes into force, and (b) Such transaction is chargeable to securities transaction tax under that chapter." "Provided that the income by way of long-term capital gain

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

In the result, appeal of the assessee is allowed

business trust] where- (a) The transaction of sale of such equity share or unit is entered into on or after the date on which Chapter VII of the Finance (No.2) Act, 2004 comes into force, and (b) Such transaction is chargeable to securities transaction tax under that chapter." "Provided that the income by way of long-term capital gain

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

Income Tax Appeal No.287 of 2011 dated 29.08.2013 and drew attention of the Bench to Para No.14 of the aforesaid judgment and order. 9 ITA.No.05/VNS/2020 Sri Indra Narayan Tripathi, Gorakhpur. Assessment Year 2014-15 8.1. The Learned Counsel for the assessee submitted that it was incumbent upon A.O. to have referred the matter to DVO for valuation keeping