K A SUJIT CHANDAN,BENGALURU vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE BENGALURU.-5(2)(1), BENGALURU

ITA 964/BANG/2025Status: DisposedITAT Bangalore28 November 2025AY 2007-08Bench: SHRI WASEEM AHMED (Accountant Member), SHRI KESHAV DUBEY (Judicial Member)22 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that the asset was held by the co-owners for a short period after distribution from the firm, making the capital gains short-term. The previous holding period of the firm was not considered applicable as it was not a case of succession, inheritance, gift, or partition of HUF.

What were the facts?

The assessees entered into a Joint Development Agreement (JDA) in 2007 for a land originally owned by a partnership firm. The land was distributed to partners, who then entered into the JDA. The assessees sold villas derived from this JDA in AY 2021-22, and capital gains were computed.

What were the issues?

Whether the capital gains arising from the JDA should be treated as short-term or long-term capital gains, considering the distribution of land from a partnership firm to its partners.

Which sections of the Income-tax Act were involved?

Section 2(14),Section 2(31)

AI-generated summary — verify with the full judgment below

Heard together (2 matters)

ITA No.964/Bang/2025
ITA No.965/Bang/2025

Read from the judgment's own cause title. This page is filed under one of them.

ITA No.965/Bang/2025 K.G. Subbarama Setty

IN THE INCOME TAX APPELLATE TRIBUNAL “A’’BENCH: BANGALORE

BEFORE SHRI WASEEM AHMED, ACCOUNTANT MEMBER AND SHRI KESHAV DUBEY, JUDICIAL MEMBER

ITA Nos.962 & 963/Bang/2025 AssessmentYears:2007-08 & 2021-22 respectively PAN NO :ACNPA3743K APPELLANT RESPONDENT ITA Nos.964/Bang/2025 Assessment Years: 2007-08 PAN NO :AJGPS8502G APPELLANT RESPONDENT

ITA Nos.965/Bang/2025 Assessment Years: 2007-08 PAN NO :ACGPS0517G APPELLANT RESPONDENT

Appellant by : Sri Siddesh N Gaddi, A.R. Respondent by : Sri Balusamy N, D.R.

ITA No.965/Bang/2025 K.G. Subb

The order continues below.

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