CIT v. P. Suryanaraina

88 ITR 321High Court1973#21518 most cited
4

judgments rely on this decision, according to BharatTax’s citation analysis of 346,713 Indian tax judgments — from 2021 to 2023.

Issues it is cited on

section 52(2)section 7(1)section 52section 158bdcircle ratefull value of considerationsection 48section 69bsection 260aon-moneysection 50csection 50

Judgments citing CIT v. P. Suryanaraina

The Dy. Commissioner Income-Tax, Jammu vs. M/S. Horizon Buildcon Pvt. Ltd, Jammu

In the result, the appeals of the Revenue in I

ITA 673/ASR/2014[2011-12]Status: DisposedITAT Amritsar22 Mar 2023AY 2011-12

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

For Appellant: Sh. Hitendra Bhauraoji Ninawe, CIT DRFor Respondent: S/Sh. P.N. Arora, Adv., Pradeep
Section 69

…, viz., money or money's worth. The expression "full consideration" in the main part of section 12B(2) cannot be construed as having a reference to the market value of the asset transferred. The Hon'ble Madras High Court in the case of CIT Vs. P. Suryanaraina 88 ITR 321 held that the full value of consideration in the said section meant only the actual value received by the assessee. However the market value may also be taken in place of full value of consideration only in the event of the consideration as per registered document being less than the value fixed by revenue authorities for the purpose of collection…

The Dy. Commissioner Income-Tax, Jammu vs. M/S. Horizon Buildcon Pvt. Ltd, Jammu

In the result, the appeals of the Revenue in I

ITA 672/ASR/2014[201-11]Status: DisposedITAT Amritsar22 Mar 2023

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

For Appellant: Sh. Hitendra Bhauraoji Ninawe, CIT DRFor Respondent: S/Sh. P.N. Arora, Adv., Pradeep
Section 69

…, viz., money or money's worth. The expression "full consideration" in the main part of section 12B(2) cannot be construed as having a reference to the market value of the asset transferred. The Hon'ble Madras High Court in the case of CIT Vs. P. Suryanaraina 88 ITR 321 held that the full value of consideration in the said section meant only the actual value received by the assessee. However the market value may also be taken in place of full value of consideration only in the event of the consideration as per registered document being less than the value fixed by revenue authorities for the purpose of collection…

The Dy. Commissioner Income-Tax, Jammu vs. M/S. Horizon Buildcon Pvt. Ltd, Jammu

In the result, the appeals of the Revenue in I

ITA 671/ASR/2014[2009-10]Status: DisposedITAT Amritsar22 Mar 2023AY 2009-10

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

For Appellant: Sh. Hitendra Bhauraoji Ninawe, CIT DRFor Respondent: S/Sh. P.N. Arora, Adv., Pradeep
Section 69

…, viz., money or money's worth. The expression "full consideration" in the main part of section 12B(2) cannot be construed as having a reference to the market value of the asset transferred. The Hon'ble Madras High Court in the case of CIT Vs. P. Suryanaraina 88 ITR 321 held that the full value of consideration in the said section meant only the actual value received by the assessee. However the market value may also be taken in place of full value of consideration only in the event of the consideration as per registered document being less than the value fixed by revenue authorities for the purpose of collection…

Essar Capital Ltd, Mumbai vs. Pr CIT 6, Mumbai

In the result the appeal of the assessee is allowed

ITA 3759/MUM/2017[2012-13]Status: DisposedITAT Mumbai08 Jan 2021AY 2012-13

Bench: Shri Rajesh Kumar & Shri Ram Lal Negiassessment Year: 2012-13 M/S. Vajresh Consultants Prcit 6, Ltd. (Earlier Known As Aayakar Bhavan, Essar Capital Ltd.), Mumbai - 400020 Vs. 40-B, Ridge Road, Malabar Hill, Mumbai – 400 006 Pan: Aabce 7257R (Appellant) (Respondent) Present For: Assessee By : Shri Nishant Thakkar, A.R. & Shri Hiten Chande, A.R. Revenue By : Shri R. Manjunatha Swamy, D.R. Date Of Hearing : 23.10.2020 Date Of Pronouncement : 08.01.2021 O R D E R

For Appellant: Shri Nishant Thakkar, A.R. &For Respondent: Shri R. Manjunatha Swamy, D.R
Section 143(3)Section 263

…aforesaid transfer: • CIT v George Henderson & Co Ltd (66 ITR 622) (SC) • GIT v Gillanders Arbuthnot & Co (87 ITR 407) (SC) • K.P. Varghese v. /TO [19811131 ITR 597 (SC) • CIT v. Shivakami Company P. Ltd. [1986] 159 ITR 71 (SC) • CITv. P. Suryanaryana [1973] 88 ITR 321 (Mad) • CIT v.Smt. Nandini Nopany [1998] 230 ITR 679 (Cal) • CITv. G.C. Sen Gupta [1996] 220 ITR 254 (Gau) 10.5 Further, in this regard, your Honour’s attention is invited to the rectification order passed by the Assessing Officer for AY 2008-09, wherein the AO has recomputed the capital loss on sale of VEL shares. A copy of the rectification ord…