(iii) Bhavesh Estates (India) Pvt. Ltd. v. ITO

1 DTR 366Reported decision#21732 most cited
3

judgments rely on this decision, according to BharatTax’s citation analysis of 346,713 Indian tax judgments — from 2022 to 2022.

Issues it is cited on

section 45(2)section 2(47)(v)legal expensessection 53aproject completion methodsection 53joint development agreementjdapercentage completion methodsection 57(iii)section 2(47)full value of consideration

Judgments citing (iii) Bhavesh Estates (India) Pvt. Ltd. v. ITO

M/S. S P R Developers Private Limited, Bangalore vs. Deputy Commissioner of Income Tax, Central Circle- 1(3), Bangalore

In the result, all the appeals filed by the assessee are allowed

ITA 297/BANG/2020[2008-09]Status: DisposedITAT Bangalore09 Feb 2022AY 2008-09

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri L Bharath, C.AFor Respondent: Shri Pradeep Kumar, CIT (DR)
Section 153A

…4 (SC) relied on. Conclusion Where the entire amount payable under the agreement was in dispute, no part of it could be brought to tax in the hands of assessee, even if the part payment is actually received.” (iii) Bhavesh Estates (India) Pvt. Ltd., Vs. ITO, 1 DTR 366 (Mum. – Trib.), wherein the Tribunal held as under:- “Assessee had entered into the development agreement with AB (SC). The FSI on the said plot was revised, but the project could not be completed. Therefore, no interest was paid by the owner to the assessee company on its deposit at the rate of 12 per cent per annum. It is undisputed fact that th…

M/S. S P R Developers Private Limited, Bangalore vs. Deputy Commissioner of Income Tax, Central Circle- 1(3), Bangalore

In the result, all the appeals filed by the assessee are allowed

ITA 296/BANG/2020[2007-08]Status: DisposedITAT Bangalore09 Feb 2022AY 2007-08

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri L Bharath, C.AFor Respondent: Shri Pradeep Kumar, CIT (DR)
Section 153A

…4 (SC) relied on. Conclusion Where the entire amount payable under the agreement was in dispute, no part of it could be brought to tax in the hands of assessee, even if the part payment is actually received.” (iii) Bhavesh Estates (India) Pvt. Ltd., Vs. ITO, 1 DTR 366 (Mum. – Trib.), wherein the Tribunal held as under:- “Assessee had entered into the development agreement with AB (SC). The FSI on the said plot was revised, but the project could not be completed. Therefore, no interest was paid by the owner to the assessee company on its deposit at the rate of 12 per cent per annum. It is undisputed fact that th…

M/S. S P R Developers Private Limited, Bangalore vs. Deputy Commissioner of Income Tax, Central Circle- 1(3), Bangalore

In the result, all the appeals filed by the assessee are allowed

ITA 295/BANG/2020[2006-07]Status: DisposedITAT Bangalore09 Feb 2022AY 2006-07

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri L Bharath, C.AFor Respondent: Shri Pradeep Kumar, CIT (DR)
Section 153A

…4 (SC) relied on. Conclusion Where the entire amount payable under the agreement was in dispute, no part of it could be brought to tax in the hands of assessee, even if the part payment is actually received.” (iii) Bhavesh Estates (India) Pvt. Ltd., Vs. ITO, 1 DTR 366 (Mum. – Trib.), wherein the Tribunal held as under:- “Assessee had entered into the development agreement with AB (SC). The FSI on the said plot was revised, but the project could not be completed. Therefore, no interest was paid by the owner to the assessee company on its deposit at the rate of 12 per cent per annum. It is undisputed fact that th…

(iii) Bhavesh Estates (India) Pvt. Ltd. v. ITO (1 DTR 366) — Cited in 3 Judgments | BharatTax