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

Section 60 to 63 of the 1961 Act deals with revocable transfer of assets, and for creation of valid trust, 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

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

Section 60 to 63 of the 1961 Act deals with revocable transfer of assets, and for creation of valid trust, 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

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

Section 60 to 63 of the 1961 Act deals with revocable transfer of assets, and for creation of valid trust, 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

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

Section 60 to 63 of the 1961 Act deals with revocable transfer of assets, and for creation of valid trust, 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

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

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.

6-7( also reproduced in this order ) . Thus, as per Section 292C, there will be presumption that the contents of this documents found during survey are true and the documents belong to the assessee. This presumption is rebuttable, for which the assessee has to bring on record cogent/credible evidences to rebut the said presumption. There is a difference

ANJU JHUNJHUNWALA,VARANASI vs. PCIT, VARANASI

In the result, appeal of the assessee is allowed

section 10(38) is that the consideration should be realized on transfer of long term capital asset in the form of shares and STT must have been paid on the same. In the instant case the said condition has been fully satisfied. Further the case laws as quoted by the assessee also fully support the case of the assessee

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

In the result, appeal of the assessee is allowed

section 10(38) is that the consideration should be realized on transfer of long term capital asset in the form of shares and STT must have been paid on the same. In the instant case the said condition has been fully satisfied. Further the case laws as quoted by the assessee also fully support the case of the assessee

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

In the result, appeal of the assessee is allowed

section 10(38) is that the consideration should be realized on transfer of long term capital asset in the form of shares and STT must have been paid on the same. In the instant case the said condition has been fully satisfied. Further the case laws as quoted by the assessee also fully support the case of the assessee

VISHAL KANODIA,VARANASI vs. PCIT,, VARANASI

In the result, appeal of the assessee is allowed

section 10(38) is that the consideration should be realized on transfer of long term capital asset in the form of shares and STT must have been paid on the same. In the instant case the said condition has been fully satisfied. Further the case laws as quoted by the assessee also fully support the case of the assessee

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

In the result, appeal of the assessee is allowed

section 10(38) is that the consideration should be realized on transfer of long term capital asset in the form of shares and STT must have been paid on the same. In the instant case the said condition has been fully satisfied. Further the case laws as quoted by the assessee also fully support the case of the assessee

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

1) of Section 50- C exceeds the fair market value of the property on the date of transfer, the AO has to apply his mind on the validity of the objection of the assessee. He may either accept the valuation of the property on the basis of the report of the approved valuer filed by the assessee, or invite objection