Kalooram Govindaram v. Commissioner of Income-Tax, Madhya Pradesh

57 ITR 335Reported decision#21197 most cited
4

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2011 to 2015.

Judgments citing Kalooram Govindaram v. Commissioner of Income-Tax, Madhya Pradesh

SRI. C. RAMAIAH REDDYT vs. DCIT,

In the result, ITA No.1778/Bang/2012 (A

ITA 1779/BANG/2013[2012-13]Status: DisposedITAT Bangalore10 Apr 2015AY 2012-13

Bench: Shri N.V. Vasudevan & Shri Jason P. Boaz

For Appellant: Shri V. Srinivasan, C.AFor Respondent: Shri A.K. Ganesh Rao, CIT-III(DR)
Section 132Section 143(3)Section 153ASection 45(2)Section 48

…(ii) Whether the increased values of land as per ‘Partition’ under facts and circumstances of the case can be adopted as such as cost of acquisition of the property and whether the decision of Hon’ble Supreme Court in the case of Kallooram Govindam v CIT (MP) 57 ITR 335 can be applied in this regard under the circumstances of the case? (iii) Whether section 45(2) is to be applied? Whether any benefit of long term capital gain is to be allowed u/s 45(2)? (iv) Whether under the circumstances of the case, the decision of Hon’ble ITAT for A.Y. 2006-07 dated 25.05.2012 can be applied in toto to A.Y. 2011-12 & 2012-13…

SRI. C. RAMAIAH REDDYT vs. DCIT,

In the result, ITA No.1778/Bang/2012 (A

ITA 1778/BANG/2013[2011-12]Status: DisposedITAT Bangalore10 Apr 2015AY 2011-12

Bench: Shri N.V. Vasudevan & Shri Jason P. Boaz

For Appellant: Shri V. Srinivasan, C.AFor Respondent: Shri A.K. Ganesh Rao, CIT-III(DR)
Section 132Section 143(3)Section 153ASection 45(2)Section 48

…(ii) Whether the increased values of land as per ‘Partition’ under facts and circumstances of the case can be adopted as such as cost of acquisition of the property and whether the decision of Hon’ble Supreme Court in the case of Kallooram Govindam v CIT (MP) 57 ITR 335 can be applied in this regard under the circumstances of the case? (iii) Whether section 45(2) is to be applied? Whether any benefit of long term capital gain is to be allowed u/s 45(2)? (iv) Whether under the circumstances of the case, the decision of Hon’ble ITAT for A.Y. 2006-07 dated 25.05.2012 can be applied in toto to A.Y. 2011-12 & 2012-13…

THE COMMISSIONER OF INCOME TAX V vs. PEPSICO INDIA HOLDINGS PRIVATE LIMITED

ITA/149/2008HC Delhi25 Mar 2011

Bench: HON'BLE MR. JUSTICE A.K.SIKRI,HON'BLE MR. JUSTICE M.L. MEHTA

Section 143

…essee to produce the valuer during the course of assessment proceedings.” 10. This approach is in accordance with law laid down by the courts in various judgments including in Kalooram Govindaram Vs. Commissioner of Income-Tax, Madhya Pradesh, 57 ITR 335, Union of India and Another Vs. Azadi Bachao Andolan and ITA No.149/2008 Page 11 of 11 Another 263 ITR 706 and State of Orissa Vs. Maharaja Shri B.P. Singh Deo, 76 ITR 690. 11. That apart, we find no reason, justification or rationale for the Assessing Officer to inflate the value of land by 50% and reduced t…

THE COMMISSIONER OF INCOME TAX V vs. PEPSICO INDIA HOLDINGS PRIVATE LIMITED

ITA - 149 / 2008HC Delhi25 Mar 2011
Section 143

…essee to produce the valuer during the course of assessment proceedings.” 10. This approach is in accordance with law laid down by the courts in various judgments including in Kalooram Govindaram Vs. Commissioner of Income-Tax, Madhya Pradesh, 57 ITR 335, 2011:DHC:1838-DB Another 263 ITR 706 and State of Orissa Vs. Maharaja Shri B.P. Singh Deo, 76 ITR 690. 11. That apart, we find no reason, justification or rationale for the Assessing Officer to inflate the value of land by 50% and reduced the value of bottles and crates by 50%. In fact, while doing so, the AO does not give any basis…

Kalooram Govindaram v. Commissioner of Income-Tax, Madhya Pradesh (57 ITR 335) — Cited in 4 Judgments | BharatTax