Assistant Commissioner of Income-tax, Co. Circle IV(3), Chennai v. MIL Industries Ltd.

142 ITD 428Income Tax Appellate Tribunal2013#22538 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 348,631 Indian tax judgments — from 2016 to 2019.

Judgments citing Assistant Commissioner of Income-tax, Co. Circle IV(3), Chennai v. MIL Industries Ltd.

Shri Dr. Liyakat Ali Kapadiya, Ujjain vs. Assistant Commissioner of Income Tax 2 (1), Ujjain

The appeal of the assessee is allowed for statistical

ITA 668/IND/2017[2013-14]Status: DisposedITAT Indore25 Mar 2019AY 2013-14

Bench: Shri Kul Bharat & Shri Manish Borada.Y. 2013-14

Section 50CSection 50C(3)

…iable capital assets covered by section 50 and in computing the capital gain arising from the said transfer by adopting the stamp duty valuation. [Para 20]" In the case of Assistant Commissioner of Income-tax, Co. Circle IV(3), Chennai vs. MIL Industries Ltd. 142 ITD 428 it has been held as under:- "Whether whatever may be problems suffered by an assessee, in reality those reasons cannot be permitted to go beyond scope of section 5OC _ Held, yes _ Whether, therefore, misfortunes happened to assessee or difficulties faced by assessee or matter of distress sales, etc., cannot be a ground to modify valuation - Held,…

M/S Malvika Agrotech Pvt. Ltd., Dhar vs. The ITO-2(2), Indore

In the result the appeal of the assessee is allowed for statistical purposes”

ITA 358/IND/2016[2009-10]Status: DisposedITAT Indore19 Sept 2018AY 2009-10

Bench: Shri Kul Bharat & Shri Manish Boradassessment Year: 2009-10 M/S Malvika Agrotech Ito, 2(2), Pvt. Ltd, Indore Plot No.185, Sector-1, Pithampur, Dhar (Appellant) (Respondent ) Pan No.Aaccm6451G Revenue By Shri P.K. Mitra, Sr. Dr Assessee By Shri C.P. Rawka,Ca Date Of Hearing 10.09.2018 Date Of 19.9.2018 Pronouncement

Section 143(3)Section 148Section 50CSection 68

…iable capital assets covered by section 50 and in computing the capital gain arising from the said transfer by adopting the stamp duty valuation. [Para 20]" In the case of Assistant Commissioner of Income-tax, Co. Circle IV(3), Chennai vs. MIL Industries Ltd. 142 ITD 428 it has been held as under:- 8 Malvika Agrotech Pvt. Ltd "Whether whatever may be problems suffered by an assessee, in reality those reasons cannot be permitted to go beyond scope of section 5OC _ Held, yes _ Whether, therefore, misfortunes happened to assessee or difficulties faced by assessee or matter of distress sales, etc., cannot be a groun…

ACIT 16(3), Mumbai vs. Dilip Shoorji, Mumbai

In the result, the appeal filed by the Revenue in ITA N0

ITA 5987/MUM/2013[2009-10]Status: DisposedITAT Mumbai12 Jul 2016AY 2009-10

Bench: Shri Saktijit Dey & Shri Ramit Kocharआयकर अपील सं./I.T.A. No.5987/Mum/2013 ("नधा"रण वष" / Assessment Year : 2009-10) Asstt. Commissioner Of Shri Dilip Shoorji, बनाम/ Income Tax – 16(3), 4 Th Floor, Cutch Castle, V. Matru Mandir, 523, S.V.P. Road, 2 Nd Floor, R. No. 206, Opera House, Tardeo Road, Mumbai – 400 004. Mumbai – 400 007. "थायी लेखा सं./Pan : Aoqps0438E (अपीलाथ" /Appellant) .. (""यथ" / Respondent)

For Appellant: Shri J.P. BairagraFor Respondent: Shri Sanjeev Kashyap,DR

Section 143(2)Section 143(3)Section 50Section 50CSection 55A

…s adopted as average rate given by the District Valuation officer/Valuation Officer and the appellant’s registered valuer ….” Our above view is fortified by the decision of the Chennai Tribunal in the case of ACIT v. MIL Industries Limited reported in (2013) 142 ITD 428(Chennai Trib) as under: “18. Except the above, on all other aspects we agree with the Commissioner of Income-tax(Appeals) and the approach adopted by him. Earlier there was a valuation. The value was Rs. 1.21 crores. The valuation was made by the assessee's bankers. The guideline value is ITA 5987/Mum/2013 19 Rs. 3,95,91,000/-. But the valuati…