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

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

Transfer Pricing Officer, where the assessee had maintained information and documents as prescribed under section 92D, declared the international transaction under Chapter X, and, disclosed all the material facts relating to the transaction; and :-8-: (e) the amount of undisclosed income referred to in section 271AAB. (7) The penalty referred to in sub-section (1) shall be a sum equal

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

6) of 1961 Act. The Learned Counsel for the assessee, therefore, prayed that the matter may be set aside and restored to the file of A.O. for fresh adjudication of the issue on merits in accordance with law, with a direction to the A.O. to refer the matter to DVO for valuing the property and thereafter, if there

ANJU JHUNJHUNWALA,VARANASI vs. PCIT, VARANASI

In the result, appeal of the assessee is allowed

6. Before us, ld. Counsel for the assessee first of all drew our attention to various documents filed before the AO in support of purchase of shares, D-mat Account in which shares were transferred and finally online sale of shares on Bombay Stock Exchange through broker M/s. Karvy Stock Broking Ltd. He further pointed out that in this case

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

In the result, appeal of the assessee is allowed

6. Before us, ld. Counsel for the assessee first of all drew our attention to various documents filed before the AO in support of purchase of shares, D-mat Account in which shares were transferred and finally online sale of shares on Bombay Stock Exchange through broker M/s. Karvy Stock Broking Ltd. He further pointed out that in this case

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

In the result, appeal of the assessee is allowed

6. Before us, ld. Counsel for the assessee first of all drew our attention to various documents filed before the AO in support of purchase of shares, D-mat Account in which shares were transferred and finally online sale of shares on Bombay Stock Exchange through broker M/s. Karvy Stock Broking Ltd. He further pointed out that in this case

VISHAL KANODIA,VARANASI vs. PCIT,, VARANASI

In the result, appeal of the assessee is allowed

6. Before us, ld. Counsel for the assessee first of all drew our attention to various documents filed before the AO in support of purchase of shares, D-mat Account in which shares were transferred and finally online sale of shares on Bombay Stock Exchange through broker M/s. Karvy Stock Broking Ltd. He further pointed out that in this case

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

In the result, appeal of the assessee is allowed

6. Before us, ld. Counsel for the assessee first of all drew our attention to various documents filed before the AO in support of purchase of shares, D-mat Account in which shares were transferred and finally online sale of shares on Bombay Stock Exchange through broker M/s. Karvy Stock Broking Ltd. He further pointed out that in this case

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

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)

2 Assessment Year: 2016-17 Manish Jaiswal vs. Addl. CIT purchasing the aforesaid property . The penalty proceedings u/s 271C was initiated against the assessee by the AO for failure to deduct income tax at source u/s 194IA of the 1961 Act , on payments made for transfer of immovable property(other than agricultural land). Show cause notice (SCN) dated