B.B. Sarkar v. CIT

132 ITR 150High Court1981#11060 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2016 to 2024.

Sections most often in play

Section 142(1)Section 143(3)Section 250(4)Section 54F

Judgments citing B.B. Sarkar v. CIT

Subhash Chand Kasera, New Delhi vs. ITO Ward - 47(1), New Delhi

Ground of Appeal 2 and 3 are dismissed

ITA 4092/DEL/2019[2015-16]Status: DisposedITAT Delhi30 Apr 2024AY 2015-16

Bench: Sh. M. Balaganesh & Ms. Madhumita Roy

Section 142Section 143(3)Section 54Section 54F

…s :- (i) CIT Vs. Sardarimal Kothari and another [2008] reported in 302 ITR 286 (ii) Smt. Ranjeet Sandhu Vs. DCIT [2011] reported in 16 taxmann.com 210 (iii) Smt. Shashi Verma Vs. CIT reported in [224 ITR 106 (MP)] (iv) B.B. Sarkar Vs. CIT reported in [ 1981] 132 ITR 150 (Cal.) (v) CIT Vs. Smt. Brinda Kumari [2001] reported in 114 Taxman 266 (Delhi) (vi) CIT Vs. R.L. Sood [2000] reported in 108 Taxmnan 227 (Delhi) (vii) Smt. V. A. Tharbai Vs. DCIT reported in 19 taxmann.com 276 (Chennai) (viii) K. Datta Vs. Income Tax Officer [2006] reported in 100 TTJ (Pune) 133 (ix) Angela J. Kazi Vs. Income Tax Officer, Ward-…

Manish Tyagi, Ghaziabad vs. ITO, Ghaziabad

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

ITA 5548/DEL/2015[2011-12]Status: DisposedITAT Delhi25 Mar 2021AY 2011-12

Bench: Shri Amit Shukla & Shri Prashant Maharishi(Through Video Conferencing) Manish Tyagi, Vs. Ito, House No. 131, Sector-6, Ward-1(4), Chiranjeev Vihar, Ghaziabad Ghaziabad Pan: Acgpt1413J (Appellant) (Respondent)

For Appellant: Ms. Prem Late Bansal, AdvFor Respondent: Shri Gaurav Dudeja, Sr. DR

Section 160Section 160(1)(i)Section 161(1)Section 163Section 2(14)Section 48Section 54F

…is to be liberally construed to grant the benefit to the assessee to fulfill the mandate of legislation which is to promote investment in residential housing construction rather than in the manner which may frustrate the object. I) In BB Sarkar vs CIT (1981) 132 ITR 150 (Cal), Calcutta High Court held that where a taxpayer spends capital gain partly for purchase of another house and partly for further construction on it, he is still entitled to exemption u/s 54. Section 54 contemplates fulfillment of two alternate conditions viz purchase or construction, but where both the conditions are fulfilled within the tim…

Shri.Ramakrishna Ashwath, Bangalore vs. Income Tax Officer Ward-6(3)(3), Bangalore

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

ITA 138/BANG/2019[2015-16]Status: DisposedITAT Bangalore31 May 2019AY 2015-16

Bench: Shri Arun Kumar Garodiaassessment Year : 2015-16 Shri Ramakrishna Aswatgh, No. 40, 1St Floor, 1St Main, The Income Tax 9Th Cross, 3Rd Stage, Bhel Officer, Layout, Vs. Ward – 6 (3) (3), Vidyaranyapura, Bangalore. Bangalore – 560 080. Pan: Adrpa6087D Appellant Respondent

For Appellant: Shri Murali Krishna, CAFor Respondent: Shri Tshering Ongda, JCIT (DR)

Section 54F

…same time as the civil works / renovation of the ground and first floors was undertaken. Regarding these objections of ld. CIT(A), he submitted that as per the judgment of Hon’ble Calcutta High Court rendered in the case of B.B. Sarkar Vs. CIT as reported in 132 ITR 150 (Cal), it was held that if an assessee is entitled to relief on fulfilment of either of the two conditions, that is to say, either purchasing a house property within one year or constructing the house within two years, in our opinion, it would be improper to read that on fulfilment of both the conditions, he would be disentitled to that relief. H…

Goverdhan Sigh Shekhawat, Jaipur vs. ITO, Jaipur

ITA 517/JPR/2013[2009-10]Status: DisposedITAT Jaipur11 Jan 2019AY 2009-10

For Appellant: Shri Mahendra Gargieya (Adv.)For Respondent: Shri Varindar Mehta (CIT)

Section 143(3)Section 234BSection 244ASection 54F

…shown is the photographs now is not relevant because the appellant feeling frustrated, leased out the property and has made some small temporary changes. 18. In support, reliance was placed on following case laws: B.B. Sarkar v/s CIT, West Bengal-IV (1981) 132 ITR 150 (Cal) wherein it was held as under: “The main purpose of the statute is to give relief for the acquisition of a new residential house. In that context, it does not really matter whether the new residential house is partly constructed or partly purchased” Prem Prakash Bhutani v/s ACIT (2007) 110 TTJ 440 (Del) wherein it was held as under: 15 Sh…

Dr. Kushagra Katariya, Gurgaon vs. DCIT, Gurgaon

In the result, the appeal of the assessee is allowed

ITA 1452/DEL/2016[2011-12]Status: DisposedITAT Delhi21 Dec 2018AY 2011-12

Bench: Shri H.S. Sidhu & Shri L.P. Sahu[Assessment Year: 2011-12]

For Appellant: Shri Arvind Kumar, AdvFor Respondent: Shri Sanjay Goel, CIT(DR)

Section 139(1)Section 139(4)Section 234BSection 271(1)Section 54Section 54F

…IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI ‘A’ BENCH, NEW DELHI BEFORE SHRI H.S. SIDHU, JUDICIAL MEMBER AND SHRI L.P. SAHU, ACCOUNTANT MEMBER [Assessment Year: 2011-12] Dr. Kushagra Kataria, vs. DCIT, Circle 1(1), 5th floor, HSSIDC Building, C/o S. Talwar & Co., 409, Sector-31, Udyog Vihar, Phase-V Gurgaon Gurgaon (PAN: AKWPK6521-E) [Appellant] [RESPONDENT] Assessee by : Shri Arvind Kumar, Adv. & Ms. Sudha Gupta, CA Revenue by : Shri Sanjay Goel, CIT(DR) ORDER PER H.S. SIDHU, JM The Assessee has filed this Appeal against the Order dated 13.1.2016 of the Ld. Commissioner of Income Tax (Appeals)-I, Gurg…

Amirali Akbarali Engineer, Mumbai vs. ACIT 24(1), Mumbai

The appeal of the assessee is partly allowed for

ITA 289/MUM/2017[2012-13]Status: DisposedITAT Mumbai01 Oct 2018AY 2012-13

Bench: Shri Joginder Singh & Shri Ramit Kocharassessment Year: 2012-13 Amirali Akbarali Engineer, Vs Acit, A/201, Senha Apna Ghar, Ward-24(1), Unit No.11, Piramal Chamber, Lalbaug, Swami Samarth Nagar, Mumbai Andheri (West), Mumbai-400053 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No.Aacpe9331N

Section 143(2)Section 143(3)Section 54F

…3 (Bang.) (para 6), " CIT v. Natu Hansraj [1976] 105 ITR 43 (Guj.) (para 6), " CIT v. T.N. Aravinda Reddy [1979] 120 ITR 46/ 2 Taxman 541 (SC) (para 6), " Keshavji Raoji & Co. v. CIT [1990] 183 ITR 1/ 49 Taxman 87 (SC) (para 7) and " B.B. Sarkar v. CIT [1981] 132 ITR 150/ 7 Taxman 239 (Cal.) (para 10). 2.3. It is further noted that Hon'ble jurisdictional High Court in CIT vs Raman Kumar Suri [2013] 29 taxmann.com 231 (Bombay)/[2013] 212 Taxman 411 (Bombay)/[2013] 255 CTR 257 (Bombay) held as under:- “This appeal by the revenue under Section 260A of the Income Tax Act, 1961 (hereinafter referred to as "the Act…

Mr.G.R.Chennakeshava Reddy, Bangalore vs. Income Tax Officer, Bangalore

In the result, the appeal of the assessee is dismissed

ITA 1852/BANG/2016[2010-11]Status: DisposedITAT Bangalore20 Sept 2017AY 2010-11

Bench: Shri Sunil Kumar Yadav & Shri A. K. Garodiaassessment Year : 2010-11

For Appellant: Shri. C. A. N. Panduranga Rao, CAFor Respondent: Shri. M. K. Biju, JCIT

Section 142(1)Section 148Section 50CSection 54

…entions of the assessee. He accordingly denied the exemption under section 54 of the Act having held that exemption is allowable in full even if house is partly purchased and partly constructed, following the judgment in the case of B. B. Sarkar v. CIT [1981] 132 ITR 150(Cal.). The CIT(A) further observed that the main purpose of section 54 of the Act is to give relief for the acquisition of the new residential house. Therefore it does not really matter that the new residential house is partly constructed or partly purchased. He accordingly confirmed the computation of long term capital gain at Rs.13,26,433/- but…

Rustom Homi Vakil, Mumbai vs. ACIT Cir 12(3), Mumbai

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

ITA 4450/MUM/2014[2009-10]Status: DisposedITAT Mumbai30 Mar 2016AY 2009-10

Bench: Shri Amit Shukla & Shri Ramit Kocharआयकर अपील सं./I.T.A. No.4450/Mum/2014 ("नधा"रण वष" / Assessment Year : 2009-10) Rustom Homi Vakil Acit 12(3) बनाम/ Flat No 27, Aaykar Bhawan V. 107,Maison Belvedre New Marine Lines Maharshi Karve Road Mumbai-400 020 Mumbai-400 020 "थायी लेखा सं./Pan :Aabpv1053F (अपीलाथ" /Appellant) .. (""यथ" / Respondent)

For Appellant: Mr. Mahesh C. MathurFor Respondent: Mr. B S Bist, Sr. DR

Section 143(2)Section 143(3)Section 250Section 54Section 54(1)(i)

…ore the Tribunal in paper book filed. The assessee relied upon the following case law to support its contentions : 1. Rahana Siraj v. CIT (2015) 58 taxmann.com 333(Kar. HC.) 2. Saleem Fazalbhoy v. DCIT (2007) 106 ITD 167(Mum.Trib.) 3. B B Sarkar v. CIT (1981)132 ITR 150 (Cal. HC). 4. Mrs Sonia Gulati v. ITO (2001) 115 taxman 232 (Mum)(Mag.)(Trib.) 5. Mrs. Gulshanbanoo R Mukhi v. JCIT (2002) 83 ITD 649 (Mum. Trib.) 6. Sh. Ashok Kumar Ralhan v. CIT 360 ITR 575 Del. HC 7. G Shiv Ram Krishna v. DCIT in ITA no. 755/Hyd/2013 dated 20-12- 2013 9 Ld. DR relied upon the orders of CIT(A) and drew our attention to the det…

Vishal Dutt, Navi Mumbai vs. ITO WD 22(3)(4), Navi Mumbai

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

ITA 878/MUM/2014[2008-09]Status: DisposedITAT Mumbai16 Mar 2016AY 2008-09

Bench: Shri Sanjay Garg & Shri Ramit Kocharआयकर अपील सं./I.T.A. No. 878/Mum/2014 ("नधा"रण वष" / Assessment Year : 2008-09) Vishal Dutt, बनाम/ Income Tax Officer, Ward 205, B-Wing, Big Splash, – 22(3)(4), V. Sector – 17,Vashi, 3 Rd Floor, Tower No. 6, Navi Mumbai – 400703. Vashi Railway Station, Navi Mumbai – 400 703. "थायी लेखा सं./Pan : Aagpd 1553 M (अपीलाथ" /Appellant) .. (""यथ" / Respondent)

For Respondent: Shri Sanjeev Kashyap-(DR)

Section 14Section 143(2)Section 143(3)Section 54F

…the following judicial decisions:- i) CIT v. Smt. K.G. Rukuminiamma, (2011)196 Taxman 87 (Kar) ii) CIT v. Gita Duggal (2013)30 taxmann.com 230 (Delhi HC) iii) K.G. Vyas, 16 ITD 195(Bom-Trib) iv) Shiv Narayan Choudhari, (1981)108 ITR 104 (All) v) B.B. Sarkar, 132 ITR 150 (Cal) vi) Col. H.H. Sir Harinder Singh, 83 ITR 416 vii) Fulwanti C. Rathod v. ITO, Mumbai Tribunal. The CIT(A) observed that the assessee is claiming benefit u/s 54F of the Act in respect of two independent residential house situated at different locations, one is in Parsik Hills at Belapur and the other is at N.R.I. Complex, Nerul, Navi Mumbai.…