CIT v. Dr. T. K. Dayalu

14 Taxmann.com 120High Court2011#3754 most cited

What is CIT v. Dr. T. K. Dayalu authority for?

Capital gains arise at the time of execution of a Joint Development Agreement (JDA) and handing over of possession of property to the developer, due to the concept of part performance.

32

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2016 to 2026.

Also referred to as

CIT v. Dr. T.K. Dayalu · joint development agreement · jda · section 2(47)(v) · section 53a · transfer of capital asset · date of transfer · part performance · capital gains

Also reported as

292 Taxmann 531

Issues it is cited on

section 2(47)(v)section 53joint development agreementjdasection 53atransfer of capital assetsection 2(47)full value of considerationdate of transferlong term capital gainslong term capital gainsection 153c

Judgments citing CIT v. Dr. T. K. Dayalu

Tamil Nadu Brick Industries, Chennai vs. ITO, Chennai

ITA 744/CHNY/2017[2013-14]Status: DisposedITAT Chennai11 May 2018AY 2013-14

Bench: Shri Abraham P. George & Shri Duvvuru Rl Reddyआयकर अपील सं./I.T.A.No.744/Chny/2017 "नधा"रण वष"/Assessment Year:2013-14 M/S. Tamilnadu Brick Industries, The Income Tax Officer, No. 47, Mangali Nagar 1St Street, Vs. Non Corporate Circle 8(1), Arumbakkam, Chennai 600 106. Chennai. [Pan: Aafft3643P] (अपीलाथ" /Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से / Appellant By : Shri S. Sridhar, Advocate ""यथ" क" ओर से/Respondent By : Shri Vijay Kumar Punna, Jr. Standing Counsel सुनवाई क" तार"ख/ Date Of Hearing : 13.02.2018 घोषणा क" तार"ख /Date Of Pronouncement : 11.05.2018 आदेश /O R D E R Per Duvvuru Rl Reddy: This Appeal Filed By The Assessee Is Directed Against The Order Of The Ld. Commissioner Of Income Tax (Appeals) 9, Chennai, Dated 27.02.2017 Relevant To The Assessment Year 2013-14. The Assessee Has Raised The Following Grounds: “1. The Order Of The Commissioner Of Income Tax (Appeals) 9, Chennai Dated 27.02.2017 In I.T.A.No.07/Cit(A)-9/2016-17 For The Above Mentioned Assessment Year Is Contrary To Law, Facts & In The Circumstances Of The Case.

For Appellant: Shri S. Sridhar, AdvocateFor Respondent: Shri Vijay Kumar Punna
Section 143(1)Section 143(3)Section 2(47)(v)

…आयकर अपील"य अ"धकरण, ‘‘डी’’ "यायपीठ, चे"नई IN THE INCOME-TAX APPELLATE TRIBUNAL ‘D’ BENCH, CHENNAI "ी अ"ाहम पी. जॉज", लेखा सद"य एवं "ी धु"वु" आर.एल रे"डी, "या"यक सद"य के सम" Before Shri Abraham P. George, Accountant Member & Shri Duvvuru RL Reddy, Judicial Member आयकर अपील सं./I.T.A.No.744/Chny/2017 "नधा"रण वष"/Assessment Year:2013-14 M/s. Tamilnadu Brick Industries, The Income Tax Officer, No. 47, Mangali Nagar 1st Street, Vs. Non Corporate Circle 8(1), Arumbakkam, Chennai 600 106. Chennai. [PAN: AAFFT3643P] (अपीलाथ" /Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से / Appellant by : Shri S. Sridhar, Advocate ""यथ"…

Sri. Narayanaswamy, Bangalore vs. ITO, Bangalore

In the result, both the appeals of the assessees are allowed

ITA 648/BANG/2015[2007-08]Status: DisposedITAT Bangalore13 Oct 2017AY 2007-08

Bench: Shri Sunil Kumar Yadav & Shri A.K. Garodia

For Appellant: Smt. Sheetal, AdvocateFor Respondent: Smt. H.L. Sowmya Achar, Addl. CIT(DR)
Section 2(47)Section 53A

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH : BANGALORE BEFORE SHRI SUNIL KUMAR YADAV, JUDICIAL MEMBER AND SHRI A.K. GARODIA, ACCOUNTANT MEMBER ITA Nos.647 & 648/Bang/2015 Assessment year : 2007-08 Shri Tejas Vs. The Income Tax Officer, PAN: AKBPT 3433F Ward 7(2), Bangalore. Sri Narayanaswamy PAN: ACZPN 1342H No.258, 2nd Floor, Marappa Compound, Belathur, Bangalore – 560 067. APPELLANT RESPONDENT Appellant by : Smt. Sheetal, Advocate Respondent by : Smt. H.L. Sowmya Achar, Addl. CIT(DR) Date of hearing : 18.09.2017 Date of Pronouncement : 13.10.2017 O R D E R Per Sunil Kumar Yadav, Judicial Member Thes…

Sri. Tejas, Bangalore vs. ITO, Bangalore

In the result, both the appeals of the assessees are allowed

ITA 647/BANG/2015[2007-08]Status: DisposedITAT Bangalore13 Oct 2017AY 2007-08

Bench: Shri Sunil Kumar Yadav & Shri A.K. Garodia

For Appellant: Smt. Sheetal, AdvocateFor Respondent: Smt. H.L. Sowmya Achar, Addl. CIT(DR)
Section 2(47)Section 53A

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH : BANGALORE BEFORE SHRI SUNIL KUMAR YADAV, JUDICIAL MEMBER AND SHRI A.K. GARODIA, ACCOUNTANT MEMBER ITA Nos.647 & 648/Bang/2015 Assessment year : 2007-08 Shri Tejas Vs. The Income Tax Officer, PAN: AKBPT 3433F Ward 7(2), Bangalore. Sri Narayanaswamy PAN: ACZPN 1342H No.258, 2nd Floor, Marappa Compound, Belathur, Bangalore – 560 067. APPELLANT RESPONDENT Appellant by : Smt. Sheetal, Advocate Respondent by : Smt. H.L. Sowmya Achar, Addl. CIT(DR) Date of hearing : 18.09.2017 Date of Pronouncement : 13.10.2017 O R D E R Per Sunil Kumar Yadav, Judicial Member Thes…

Sri. Shashank B. Gupta, Bangalore vs. Assistant Commissioner of Income-Tax, Bangalore

In the result, the appeal of the assessee is partly allowed

ITA 2250/BANG/2016[2007-08]Status: DisposedITAT Bangalore28 Sept 2017AY 2007-08

Bench: Shri Vijay Pal Rao & Shri G. Manjunath

For Appellant: Shri Srinivasan, V AdvocateFor Respondent: Smt. Padma Meenakshi, JCIT (D.R)
Section 143(1)Section 148Section 54

…IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCH ‘ A ’ BEFORE SHRI VIJAY PAL RAO, JUDICIAL MEMBER AND SHRI G. MANJUNATH, ACCOUNTANT MEMBER I.T. A. No.2250/Bang/2016 (Assessment Year : 2007-08) Shri Shashank B Gupta, No.41, 6th Cross, Work Road, Opp. UCO Bank, 7th Block, Jayanagar, Bangalore-560 082. …. Appellant. Vs. Asst. Commissioner of Income Tax, Circle 5(2)(1), Bangalore. ….. Respondent. Appellant By : Shri Srinivasan, V Advocate. Respondent By : Smt. Padma Meenakshi, JCIT (D.R) Date of Hearing : 07.09.2017. Date of Pronouncement : 28.09.2017. O R D E R Per Shri Vijay Pal Rao, J.M. : This appe…

S.Sailakshmi, Chennai vs. ACIT, Chennai

ITA 1367/CHNY/2017[2010-11]Status: DisposedITAT Chennai30 Jun 2017AY 2010-11

Bench: Shri N.R.S. Ganesan & Shri Abraham P. George] आयकर अपील सं./I.T.A. No.1367/Mds/2017 "नधा"रण वष" /Assessment Year : 2010-2011. S. Sailakshmi, Vs. The Assistant Commissioner Of Palani Towers, Income Tax, No.65, Venkatnarayana Road, Non Corporate Circle 2, T. Nagar, Chennai 600 034. Chennai 600 017. [Pan Aaops 9257P] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri. K. Ravi, AdvocateFor Respondent: Shri. Ashish Tripathi, IRS, JCIT
Section 2(47)Section 54

…to him, assessee was eligible for exemption u/s. 54 of the Act also. Reliance was placed on the judgment of jurisdictional High Court in the case of D. Kasturi vs. CIT, 323 ITR 40 that of Hon’ble Karnataka High Court in the case of CIT vs. Dr. T.K. Dayalu, 60 DTR 403 and that of Amritsar Bench of this Tribunal in the case of ACIT vs. Janak Raj Chauhan, (2006) 102 TTJ 297. 8. Per contra, ld. Departmental Representative strongly supported the orders of the authorities below. :- 8 -: 9. We have considered the rival contentions and perused the orders of the authorities below. The registered deed of absolute sale…

G.S.Sathyanarayana Gupta, Bangalore vs. Income-Tax Officer, Bangalore

In the result, the appeal of the assessee is allowed for statistical

ITA 1323/BANG/2016[2012-13]Status: DisposedITAT Bangalore17 Oct 2016AY 2012-13

Bench: Shri S.K.Yadav & Shri A. K. Garodia

For Appellant: Shri C. Sandeep, CAFor Respondent: Shri AR Sreenivasan, JCIT

…IT Vs Shankar Vital Motor Co. Ltd in ITA No.35/Bang/2015 dated 18-03-2016, copy available on pages 6-15 of the paper book. Reliance was also placed on the judgment of the Hon’ble Karnataka High Court rendered in the case of CKIT Vs T. K. Dayalu reported in 60 DTR 403(Kar.) and copy available on pages 16-18 of the paper book. 4. The ld. Dr of the revenue supported the orders of the authorities below. 5. We have considered the rival submissions. In the present case, the AO has adopted the guidance value fixed by the State Government for (to be constructed flats) or (to be acquired flats) which were not in ex…

Assistant Commissioner of Income Tax, Mangalore vs. M/S CPC Logistics Ltd, Mangalore

In the result, the appeal of the revenue is dismissed

ITA 1428/BANG/2014[2006-07]Status: DisposedITAT Bangalore19 Aug 2016AY 2006-07

Bench: Shri Vijay Pal Rao & Shri Inturi Rama Rao

For Appellant: Shri Sanjay Kumar, CIT-III (D.R)For Respondent: Smt. Sheetal Borkar, Advocate
Section 2(47)(v)

…IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCH ‘ C ’ BEFORE SHRI VIJAY PAL RAO, JUDICIAL MEMBER AND SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER I.T. A. No.1428/Bang/2014 (Assessment Year : 2006-07) Asst. Commissioner of Income Tax, Circle 1(1), Mangalore. …. Appellant. Vs. M/s. CPC Logistics Ltd., (Formerly known as CPC (India) Ltd.), 191-B, Baikampady Indl. Area, Mangalore. ….. Respondent. Appellant By : Shri Sanjay Kumar, CIT-III (D.R) Respondent By : Smt. Sheetal Borkar, Advocate. Date of Hearing : 25.7.2016. Date of Pronouncement : 19.8.2016. O R D E R Per Shri Vijay Pal Rao, J.M. : This appeal by…

M/S Pooja Reality Pvt. Ltd vs. ITO

In the result, the appeal of the assessee is dismissed

ITA 137/BANG/2013[2009-10]Status: DisposedITAT Bangalore29 Jul 2016AY 2009-10

Bench: Shri Sunil Kumar Yadav & Shri A.K. Garodiaassessment Year : 2009-10

For Appellant: Shri S. Venkatesan, CAFor Respondent: Shri K.R. Narayana, Jt. CIT(DR)
Section 139Section 234Section 80ASection 80ISection 80OSection 86

…even though the income from joint development agreement does not relate to the previous year relevant to the assessment year under appeal having regard to the ratio of the decision of the Hon’ble Karnataka High Court in the case of Dr. T.K.Dayalu reported in 60 DTR 403, which was noticed by the Hon'ble CIT [Appeals].” 3. The ld. counsel for the assessee submitted that the authorities below have erred in assessing income from joint development agreement dated 18.3.2014 for the assessment year under appeal, even though the income from joint development agreement does not relate to previous year relevant to assess…

Sri. N.G. Chandra Reddy (HUF), Bangalore vs. DCIT, Bangalore

In the result, the appeal is partly allowed

ITA 390/BANG/2015[2005-06]Status: DisposedITAT Bangalore20 Jul 2016AY 2005-06

Bench: Shri A.K. Garodia & Shri Vijay Pal Rao

For Appellant: Shri V. Srinivasan, C.AFor Respondent: Smt. Renukadevi, JCIT (D.R)
Section 147Section 148Section 2(47)(v)Section 234ASection 53A

…IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCH “ B ” BEFORE SHRI A.K. GARODIA, ACCOUNTANT MEMBER AND SHRI VIJAY PAL RAO, JUDICIAL MEMBER I.T.A. No.390/Bang/2015 (Assessment Year : 2005-06) Shri N.G. Chandra Reddy (HUF), Vs. Dy. Commissioner of No.222/222, Ashirvad, Income Tax, Doddanekkundi, Circle 7(1), Bangalore. Bangalore-560 037 PAN AAAHN 5853L Appellant Respondent. Appellant By : Shri V. Srinivasan, C.A. Respondent By : Smt. Renukadevi, JCIT (D.R) Date of Hearing : 20.06.2016. Date of Pronouncement : 20.7.2016. O R D E R Per Shri Vijay Pal Rao, J.M. : This appeal by the assessee is directed agains…

Asst.C.I.T., Bangalore vs. Shri. M.R. Anandaram (HUF), Bangalore

In the result, the appeals of the Revenue and the Cross Objections of the assessee are dismissed

ITA 1169/BANG/2015[2007-08]Status: DisposedITAT Bangalore27 May 2016AY 2007-08

Bench: Shri Sunil Kumar Yadav & Shri A.K. Garodia

For Respondent: Shri Sanjay Kumar, CIT-III(DR)
Section 143(3)Section 148Section 2(14)

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH : BANGALORE BEFORE SHRI SUNIL KUMAR YADAV, JUDICIAL MEMBER AND SHRI A.K. GARODIA, ACCOUNTANT MEMBER ITA Nos.1169 to 1172/Bang/2015 Assessment year : 2007-08 The Assistant Commissioner of Vs. Shri M.R. Anandaram (HUF) Income Tax, PAN: AABHM 9819G Circle 6(3)(1), Shri M.R. Kodandaram (HUF) Bengaluru. PAN: AABHM 9893E Shri M.R. Pattabhiram (HUF) PAN: AACHM 7618G Shri M.R. Seetharam (HUF) PAN : AAHHS 7324J ‘Gokula House, Gokula, Bengaluru - 560 054. APPELLANT RESPONDENTS CO Nos.220 to 223/Bang/2015 [in ITA Nos.1169 to 1172/Bang/2015] Assessment year : 2007-08 Shri M.…

ACIT, Mangalore vs. Smt. Sarojini M. Kushe, Mangalore

In the result, the appeal of Revenue is dismissed

ITA 989/BANG/2014[2011-12]Status: DisposedITAT Bangalore27 Apr 2016AY 2011-12

Bench: Shri A.K. Garodia & Shri Vijay Pal Rao

For Appellant: Dr.P.K. Srihari, Addl. CIT (D.R.)For Respondent: Smt. Sheetal, Advocate
Section 133(6)

…IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCH “ A ” BEFORE SHRI A.K. GARODIA, ACCOUNTANT MEMBER AND SHRI VIJAY PAL RAO, JUDICIAL MEMBER I.T.A. No.989 /Bang/2014 (Assessment Year : 2011-12) Asst. Commissioner of Vs. Smt. Sarojini M Kushe, Income Tax, P V S Beedies Pvt. Ltd., Circle 1(1), Mangalore. Kodialbail, Mangalore-575 001 PAN ADUPK 2615C Appellant Respondent. Appellant By : Dr.P.K. Srihari, Addl. CIT (D.R.) Respondent By : Smt. Sheetal, Advocate. Date of Hearing : 18.04.2016. Date of Pronouncement : 27.04.2016. O R D E R Per Shri Vijay Pal Rao, J.M. : This appeal by the Revenue is directed again…

Asst.C.I.T., Mangalore vs. M/S Shankar Vittal Motor Co. Ltd., Mangalore

ITA 35/BANG/2015[2010-11]Status: DisposedITAT Bangalore18 Mar 2016AY 2010-11

Bench: Shri B. Ramakotaiah & Shri Narendra Kumar Choudhry

For Appellant: Smt Sheetal Borkar, AdvocateFor Respondent: Smt. Neera Malhotra, CIT
Section 133ASection 143(3)Section 147Section 148Section 2(47)Section 2(47)(v)

…IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCH ‘B’, BANGALORE BEFORE SHRI B. RAMAKOTAIAH, ACCOUNTANT MEMBER AND SHRI NARENDRA KUMAR CHOUDHRY, JUDICIAL MEMBER ITA No.35(Bang) 2015 (Assessment year : 2010-11 The Asst. Commissioner of Income Tax, Circle-2(1), Mangalore Appellant Vs M/s Shankar Vittal Motor Co.Ltd. 17-17-1306, SVMCO Building, N.G.Road, Attvara, Mangalore-575 001 PAN No.AAACT5176F Respondent Revenue by : Smt. Neera Malhotra, CIT Assessee by : Smt Sheetal Borkar, Advocate Date of hearing : 15-03-2016 Date of pronouncement : 18-03-2016 O R D E R PER SHRI NARENDRA KUMAR CHOUDHRY, JM:…