CIT v. Minguel Chandra Pais & ANR.

Shri Rajesh Krishnakumar Goyal, Pune vs. Addl. CIT, Pune

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

Bench: Shri R.S.Syal, Vp & Shri Partha Sarathi Chaudhury, Jm आयकर अपीऱ सं. / Ita No.1582/Pun/2013 नििाारण वषा / Assessment Year : 2008-09 Shri Rajesh Krishnakumar Goyal, A-102, Icc Trade Towers, Senapati Bapat Road, Pune-411 016. Pan : Aelpg9647L .......अऩीऱाथी / Appellant बिाम / V/S.

…cumstances, in our view, the lower authorities erred in assessing the gain on sale of such land as a business income.” The Tribunal also made reference to the judgment of the Hon‟ble Bombay High Court in the case of CIT Vs. Minguel Chandra Pais & Anr. (2006) 282 ITR 618 (Bom.) wherein it was held that “the land classified as agricultural land in the land revenue records was to be understood as agricultural lands and insufficiency of agricultural income cannot be a ground to treat the same as a non agricultural land”. 6. Reverting to the facts of the present case, the land at Village Dhamane is clearly establish…

Dilip Balchand Raisoni, Pune vs. Income-Tax Officer, Pune

In the result, the appeal of assessee is allowed

Bench: Shri Anil Chaturvedi, Am

…fied as agricultural land in land records and is subjected to land revenue then the land is agricultural land and for this proposition, he relied on the decision of Bombay High Court in the case of CIT Vs. Minguel Chandra Pais and another reported in (2006) 282 ITR 618. He further submitted that the land at the time of purchase was not in industrial zone but was brought in industrial zone subsequently on 25.11.1992 and to support his contention, he pointed to the translated copy of 4 Town Planning and Valuation Department letter placed at page 89 of the Paper Book. He further submitted the observation of Ld.…

Vasant Shankar Walanj, Pune vs. Income-Tax Officer

Bench: Shri D. Karunakara Rao, Am & Shri Partha Sarathi Chaudhury, Jm

…land situated beyond 8 Kms. from local limits of Lonavala Municipal Corporation. In support of this contention, the assessee has placed reliance on the decision of the Hon'ble Bombay High Court in the case of CIT Vs. Minguel Chandra Pais & ANR, reported as 282 ITR 618. A.Y.2010-11 5. The Ld. CIT(Appeal) on this issue analyzed the facts and circumstances which has given rise to this particular dispute. It is on record that the Assessing Officer during the course of assessment proceedings noticed that the assessee who is partner in the Firm M/s.Shrihari Builders and Developers, had shown profits from his propr…

Jagdish Nandkishor Khandelwal, Pune vs. Income-Tax Officer

Bench: Shri D. Karunakara Rao, Am & Shri Partha Sarathi Chaudhury, Jm

…land situated beyond 8 Kms. from local limits of Lonavala Municipal Corporation. In support of this contention, the assessee has placed reliance on the decision of the Hon'ble Bombay High Court in the case of CIT Vs. Minguel Chandra Pais & ANR, reported as 282 ITR 618. A.Y.2010-11 5. The Ld. CIT(Appeal) on this issue analyzed the facts and circumstances which has given rise to this particular dispute. It is on record that the Assessing Officer during the course of assessment proceedings noticed that the assessee who is partner in the Firm M/s.Shrihari Builders and Developers, had shown profits from his propr…