ACIT v. Shri Om Prakash Goyal

53 SOT 158Income Tax Appellate Tribunal2012#15945 most cited
6

judgments rely on this decision, according to BharatTax’s citation analysis of 348,615 Indian tax judgments — from 2020 to 2024.

Issues it is cited on

inadequate enquirysection 263(1)lack of enquirymalabar industrialsection 54fsection 54section 119sundry creditorslimited scrutinynon-application of minddisallowance u/s 14aerroneous and prejudicial

Judgments citing ACIT v. Shri Om Prakash Goyal

M/S Rockbed Renovators Ltd., Bhopal vs. The PCIT-1, Bhopal

In the result, the appeal of the assessee is allowed

ITA 214/IND/2023[2018-19]Status: HeardITAT Indore12 Jun 2024AY 2018-19

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanirockbed Renovators Ltd. Pr. Cit-1 7-A, Panjabi Bagh Raisen Road Bhopal Govindpura Vs. Bhopal (Appellant / Assessee) (Respondent/ Revenue) Pan: Aaacr7151G Assessee By Shri Gagan Tiwari Ar Revenue By Ms. Ila Parmar, Cit- Dr Date Of Hearing 10.06.2024 Date Of Pronouncement 12.06.2024

Section 143(3)Section 196CSection 263

…ich construction done was agriculture in nature. Reliance is placed on the judgements in case of Vishnu Trading Co. 259 ITR 724 (Raj.), Narendra Mohan Uniyal 34 SOT 152 (Del.), Shyam Sunder Mukhija Vs. ITO 38 ITD 125 (JPR) and ACIT Vs. Om Prakash Goyal (2012) 53 SOT 158 (JPR). In the case of Narendra Mohan Uniyal (Supra) it is held that "It is crystal clear from the plain reading of ss. 54 and 54F that exemption is allowable in respect of amount invested in the construction of a residential house. There is no any rider under s. 54F that no deduction would be allowed in respect of investment of capital gains made…

M/S. S.R. Ferro Alloys, Jhabua vs. The PCIT, Bhopal

In the result, the appeal of assessee is allowed

ITA 148/IND/2021[2015-16]Status: DisposedITAT Indore09 Nov 2023AY 2015-16

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanis.R. Ferro Alloys Pr. Cit, Central 9, Siddheswar Colony Bhopal Vs. Jhabua (Appellant / Assessee) (Revenue) Pan: Abhfs7377Q Appellant By Shri Sumit Nema, Sr. Adv. & Gagan Tiwari, Ar Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 12.10.2023 Date Of Pronouncement 09.11.2023

Section 263

…ich construction done was agriculture in nature. Reliance is placed on the judgements in case of Vishnu Trading Co. 259 ITR 724 (Raj.), Narendra Mohan Uniyal 34 SOT 152 (Del.), Shyam Sunder Mukhija Vs. ITO 38 ITD 125 (JPR) and ACIT Vs. Om Prakash Goyal (2012) 53 SOT 158 (JPR). In the case of Narendra Mohan Uniyal (Supra) it is held that "It is crystal clear from the plain reading of ss. 54 and 54F that exemption is allowable in respect of amount invested in the construction of a residential house. There is no any rider under s. 54F that no deduction would be allowed in respect of investment of capital gains made…

Sewa Sahkari Sammittee Maryadit, Beed, Mundi Khandwa vs. PCIT-1, Indore

In the result, appeal by the assesse is allowed

ITA 44/IND/2022[2016-17]Status: DisposedITAT Indore30 Oct 2023AY 2016-17

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanisewa Sahkari Sammittee Pr. Cit-2 Maryadit Beed Indore Vs. Beed Mundi Khandwa (Appellant / Assessee) (Revenue) Pan: Aaufs0703N Assessee By Shri Gagan Tiwari, Ar Revenue By Ms. Simran Bhullar, Cit-Dr Date Of Hearing 05.10.2023 Date Of Pronouncement 30.10.2023

Section 12ASection 138Section 143(3)Section 263

…ich construction done was agriculture in nature. Reliance is placed on the judgements in case of Vishnu Trading Co. 259 ITR 724 (Raj.), Narendra Mohan Uniyal 34 SOT 152 (Del.), Shyam Sunder Mukhija Vs. ITO 38 ITD 125 (JPR) and ACIT Vs. Om Prakash Goyal (2012) 53 SOT 158 (JPR). In the case of Narendra Mohan Uniyal (Supra) it is held that "It is crystal clear from the plain reading of ss. 54 and 54F that exemption is allowable in respect of amount invested in the construction of a residential house. There is no any rider under s. 54F that no deduction would be allowed in respect of investment of capital gains made…

Maa Narmada Agrotech and Infrastures Ltd, Indore vs. The PCIT-1, Indore

In the result, appeal of assessee is allowed

ITA 117/IND/2022[2017-18]Status: DisposedITAT Indore11 Jul 2023AY 2017-18

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanimaa Narmada Agrotech & Pcit Infrastructures Limited Indore -1 Ug-47, Trade Centre, Vs. Kanchan Bagh Main Road, Indore (Appellant / Assessee) (Respondent/ Revenue) Pan: Aafcm6285 P Assessee By Shri S.N. Goyal & Shri Pranay Goyal, Ars Revenue By Shri P.K. Mishra, Cit-Dr Date Of Hearing 31.05.2023 Date Of Pronouncement 11.07.2023

Section 139(1)Section 143(3)Section 263

…ich construction done was agriculture in nature. Reliance is placed on the judgements in case of Vishnu Trading Co. 259 ITR 724 (Raj.), Narendra Mohan Uniyal 34 SOT 152 (Del.), Shyam Sunder Mukhija Vs. ITO 38 ITD 125 (JPR) and ACIT Vs. Om Prakash Goyal (2012) 53 SOT 158 (JPR). In the case of Narendra Mohan Uniyal (Supra) it is held that "It is crystal clear from the plain reading of ss. 54 and 54F that exemption is allowable in respect of amount invested in the construction of a residential house. There is no any rider under s. 54F that no deduction would be allowed in respect of investment of capital gains made…

Narasimhan Rangarajan, Chennai vs. ITO Non Corporate Ward-14(5), Chennai

In the result, the appeal filed by the assessee is allowed

ITA 423/CHNY/2020[2015-16]Status: DisposedITAT Chennai28 Apr 2022AY 2015-16

Bench: Shri V. Durga Rao, Hon’Ble & Shri G. Manjunatha, Hon’Bleआयकर अपील सं./Ita No.423/Chny/2020 िनधा"रण वष" /Assessment Year: 2015-16 Mr.Narasimhan Rangarajan, V. The Income Tax Officer, No.8, Plot No.28, Sixth Street, Non-Corporate Ward-14(5), Balaji Nagar, Nanganallur, Chennai. Chennai. [Pan: Aegpr 8372 E] (अपीलाथ"/Appellant) (""यथ"/Respondent) : अपीलाथ" क" ओर से/ Appellant By Mr.Y. Sridhar, Ca ""यथ" क" ओर से /Respondent By : Mr.G. Johnson, Addl.Cit सुनवाई क" तारीख/Date Of Hearing : 13.04.2022 घोषणा क" तारीख /Date Of Pronouncement : 28.04.2022

For Respondent: Mr.G. Johnson, Addl.CIT
Section 54ESection 54F

…der the law to claim benefit of deduction u/s.54F of the Act, in case, sale consideration invested for construction a farm house. This principle is supported by the decision of the ITAT Jaipur benches in the case of ACIT v. Shri Om Prakash Goyal reported in 53 SOT 158. Therefore, we are of the considered view that once the assessee prove beyond doubt that entire sale consideration received from transfer of original asset, has been invested for acquiring new house property and further, for genuine and bona fide reason, there is a delay in completion of construction of residential house, which was beyond cont…

Smt. Lata Phulwani, Jaipur vs. Pr. CIT-2, Jaipur

In the result, appeal of the assessee is allowed

ITA 246/JPR/2020[2015-16]Status: DisposedITAT Jaipur06 Oct 2020AY 2015-16
For Appellant: Shri Himanshu Goyal (CA)For Respondent: Shri Amrish Bedi (CIT)
Section 142(1)Section 143(2)Section 263Section 54F

…ich construction done was agriculture in nature. Reliance is placed on the judgements in case of Vishnu Trading Co. 259 ITR 724 (Raj.), Narendra Mohan Uniyal 34 SOT 152 (Del.), Shyam Sunder Mukhija Vs. ITO 38 ITD 125 (JPR) and ACIT Vs. Om Prakash Goyal (2012) 53 SOT 158 (JPR). In the case of Narendra Mohan Uniyal (Supra) it is held that "It is crystal clear from the plain reading of ss. 54 and 54F that exemption is allowable in respect of amount invested in the construction of a residential house. There is no any rider under s. 54F that no deduction would be allowed in respect of investment of capital gains made…

ACIT v. Shri Om Prakash Goyal (53 SOT 158) — Cited in 6 Judgments | BharatTax