Hotels (P) Ltd. v. ITO

122 TTJ 145Income Tax Appellate Tribunal#16634 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2017 to 2025.

Sections most often in play

Section 132 Section 132(1)Section 136 Section 139 Section 142(1)Section 143(3)Section 145(3)Section 147

Judgments citing Hotels (P) Ltd. v. ITO

ASHIANA BUILDPROP PRIVATE LIMITED,UDAIPUR vs. DCIT, CENTRAL CIRCLE-1, UDAIPUR, UDAIPUR

ITA 706/JODH/2024[2013-14]Status: DisposedITAT Jodhpur26 May 2025AY 2013-14

Section 132Section 145(3)Section 153ASection 234ASection 250

…y received was more than what was disclosed or\ndeclared by the assessee—There was thus no understatement of full value of\nconsideration—No capital gains under the first proviso to s. 12B was, therefore, leviable\nIn the case of InderLokHotels(P) Ltd v/s ITO 122 TTJ 145(Mum). Here also the\nposition is very same because here assessee purchases a land and after conversion and\ndeveloping in to plotting the same have been sold after making some profit. The lower\nauthority nowhere alleged that the assets were sold in loss and he neither made any\ninquiry nor brought any evidence on record that the land sold on hig…

MAHESHWARI MEGAVENTURES LIMITED ,HYDERABAD,HYDERABAD vs. ACIT, CIRCLE-16(2), HYD, HYDERABAD

In the result, appeal of the assessee is allowed

ITA 1291/HYD/2016[2009-10]Status: HeardITAT Hyderabad03 May 2024AY 2009-10

Bench: Shri Rama Kanta Panda & Shri K.Narasimha Chary

For Appellant: Shri K.C. Devdas, ARFor Respondent: Shri Kumar Pranav, CIT-DR

Section 143(3)Section 147Section 50C

…perty in question in this appeal. Learned AR placed reliance on the decision of the Hon’ble Madras High Court in the case of CIT vs. Thiruvengadam Investments Pvt. Page 7 of 12 Ltd., 320 ITR 345 (Mad) and also in the case of Inderlok Hotels Pvt. Ltd. vs. Ito 122 TTJ 145; whereas learned DR placed reliance on the decisions reported in the cases of CIT vs. Carlton Hotel (P.) Ltd., [2017] 88 taxmann.com 257 (Allahabad) and Saras Metals (P.) Ltd., vs. CIT [2018] 99 taxmann.com 405 (Delhi). 15. According to the assessee, prior to its conversion into stock in trade on 02/01/2008 such an asset was capital asset in nat…

ACIT, UDAIPUR vs. M/S. ANKIT CHIRAG DEVELOPERS PVT. LTD.,, UDAIPUR

ITA 295/JODH/2016[2012-13]Status: DisposedITAT Jodhpur17 Dec 2018AY 2012-13

Bench: Shri Sandeep Gosain & Shri Vikram Singh Yadav & A.C.I.T., Vs. M/S Ankit Chirag Developers Pvt. Central Circle-1, Ltd., Udaipur. 54-55, Rajdeep, New Fatehpura, Udaipur. Pan No. Aagca 9897 C

Section 132ASection 254(2)

…re consideration than to actual sale consideration mentioned in sale deed except loose rough papers, which have no value unless there is no direct nexus . On this preposition kindly refer following decision. 3.1 In the case of Inder lok Hotels (P) Ltd v/s ITO 122 TTJ 145(Mum). Here also the position is very same because here assessee purchases a land and after conversion and developing in to plotting the same have been sold after making some profit. The lower authority nowhere alleged that the assets were sold in loss and he neither made any inquiry nor brought any evidence on record that the land sold on higher…

ACIT, UDAIPUR vs. M/S. ANKIT CHIRAG DEVELOPERS PVT. LTD., UDAIPUR

ITA 180/JODH/2016[2011-12]Status: DisposedITAT Jodhpur17 Dec 2018AY 2011-12

Bench: Shri Sandeep Gosain & Shri Vikram Singh Yadav & A.C.I.T., Vs. M/S Ankit Chirag Developers Pvt. Central Circle-1, Ltd., Udaipur. 54-55, Rajdeep, New Fatehpura, Udaipur. Pan No. Aagca 9897 C

Section 132ASection 254(2)

ITO 2(1)(1), MUMBAI vs. ALLIED MINING INDUSTRIES P.LTD, MUMBAI

In the result, the appeal of Revenue as well as CO, are dismissed

ITA 7209/MUM/2014[2008-09]Status: DisposedITAT Mumbai10 Jan 2017AY 2008-09

Bench: Sri Mahavir Singh, Jm & Sri N.K. Pradhan, Am Income Tax Officer, M/S Allied Mining Industries Pvt Ltd., 2(1)(1), Room No.561, 5 Th Floor, 89, Ararat Building, 3 Rd Floor, Aayakar Bhavan, M.K. Road, Vs. Nagindas Master Road, Fort, Mumbai-400020 Mumbai-400023 Appellant .. Respondent Pan No.Aaaca3278P Co No.83/Mum/2016 (In Ita No.7209/Mum/2014 A.Y: 2008-09) M/S Allied Mining Industries Pvt Ltd., Vs. Income Tax Officer, 89, Ararat Building, 3Rd Floor, 2(1)(1), Room No.561, 5 Th Floor, Nagindas Master Road, Fort, Aayakar Bhavan, M.K. Road, Mumbai-400023 Mumbai-400020 Appellant .. Respondent Revenue By .. Shri. B.S Bist, Dr .. Shri. Devendra Jain, Ar Assessee By Date Of Hearing .. 10-01-2017 .. Date Of Pronouncement 10-01-2017 O R D E R Per Mahavir Singh, Jm:

Section 143(3)Section 2(14)Section 45Section 50CSection 68

…or the assessee filed a copy of Tribunals order in A.Y. 2006-07, wherein Tribunal in ITA No.4800/Mum/2010 vide order dated 30-09-2011 has adjudicated the identical issue and by relying on the co-ordinate Bench decision in the case of Inderlok Hotels Pvt. Ltd (122 TTJ 145), Mumbai threated the income declared by the assessee as income from business by observing in Para 2 and 3 as under: - “2. The assessee disputed the decision of the AO and submitted before the CIT(A) that the TDR was a movable property and provision of Section 50C were not applicable. He placed reliance on the decision of the Tribunal in the case…