Kishore H. Galaiya v. ITO

24 Taxmann.com 11Income Tax Appellate Tribunal2012#5145 most cited

What is Kishore H. Galaiya v. ITO authority for?

Exemption under Section 54 cannot be denied solely because possession of the new residential property was not taken within the prescribed period, especially if delays are attributable to factors beyond the assessee's control.

23

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2015 to 2024.

Also referred to as

Kishore H. Galaiya v. ITO · Section 54 · Section 45 · date of transfer · possession of property · delay in possession · capital gains exemption · new residential property · eligible for exemption

Also reported as

137 ITD 229

Sections most often in play

Section 54

Issues it is cited on

date of transfersection 54section 45long term capital gainsection 139(1)transferprescribedtotal incomenfac

Judgments citing Kishore H. Galaiya v. ITO

ACIT - 18(2), Mumbai vs. Shalini Kamath, Mumbai

ITA 6562/MUM/2013[2010-11]Status: DisposedITAT Mumbai31 Dec 2015AY 2010-11

Bench: Shri N.K. Billaiya & Shri Sanjay Gargassessment Year: 2010-11 Acit-18(2), Smt. Shalini Kamath, Room No.115, 1St Floor, 1203, Chaitanya Towers, Piramal Chambers, A Wing, Vs. Parel, Appasaheb Marathe Marg, Mumbai - 400012 Prabhadevi, Mumbai - 400025 Pan: Aaqpk0502M (Appellant) (Respondent) Present For: Assessee By : Shri K. Gopal, A.R. Revenue By : Shri G.N. Makwana, D.R. Date Of Hearing : 07.10.2015 Date Of Pronouncement : 31.12.2015 O R D E R

For Appellant: Shri K. Gopal, A.RFor Respondent: Shri G.N. Makwana, D.R
Section 54

…d. CIT(A), while relying upon the decision of the Hon’ble Jurisdictional High Court of Bombay in the case of “CIT vs. Mrs. Hilla J.B. Wadia” (1993) 113 CTR (Bom.) 173 and further the decision of this Tribunal in the case of “Kishore H. Galaiya vs. ITO” (2012) 137 ITD 229 (Mum.) and considering the beneficial nature of the provisions of section 54 of the Act, has allowed the claim of the assessee holding that the assessee had invested the money for acquisition of the residential house and that the exemption under section 54 of the Act cannot be denied merely because the construction was not completed during the pr…

Asst CIT Cen Cir 46, Mumbai vs. Prannath Talwar, Mumbai

In the result, appeal filed by the Revenue is dismissed

ITA 885/MUM/2014[2006-07]Status: DisposedITAT Mumbai30 Oct 2015AY 2006-07

Bench: Shri Shailendra Kumar Yadav, Jm & Shri Ramit Kochar, Am

For Respondent: Shri Vimal Punmiya
Section 132(1)Section 139(1)Section 153ASection 54

…आयकर अपीलीय अिधकरण “सी” "यायपीठ मुंबई म"। IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI "ी शैल" कुमार यादव, "याियक सद"य एवं "ी र"मत कोचर, लेखा सद"य के सम" । BEFORE SHRI SHAILENDRA KUMAR YADAV, JM AND SHRI RAMIT KOCHAR, AM आयकर अपील सं./ITA No. 885/Mum/2014 (िनधा"रण वष"/Assessment Year: 2006-07) ACIT, Central Circle-46 Shri Prannath Talwar Room No. 659, 6th Floor बनाम/ 16B, IL Palazzo Àayakar Bhavan, M.K. Road Malabar Hill Vs. Mumbai 400020 Mumbai 400002 "थायी लेखा सं./PAN - AAAPT3992J अपीलाथ"/APPELLANT ""यथ"/ RESPONDENT Shri Daya Sagar अपीलाथ" क" ओर से / Appellant by: ""यथ" क" ओर से/ Respondent by: Sh…

M/S Sri, M. George Joseph, Bangalore vs. DCIT, Bangalore

In the result, the assessee's appeal for Assessment Year 2009-10 is dismissed

ITA 13/BANG/2014[2009-10]Status: DisposedITAT Bangalore13 Feb 2015AY 2009-10

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

For Appellant: Shri H.R. Suresh, F.C.AFor Respondent: Shri P. Dhivakar,JCIT (D.R)
Section 143(1)Section 143(3)Section 54F

…IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCH “ A ” BEFORE SHRI N.V. VASUDEVAN, JUDICIAL MEMBER AND SHRI JASON P. BOAZ, ACCOUNTANT MEMBER I.T.A. No.13/Bang/2014 (Assessment Year : 2009-10) Sri M. George Joseph, Vs. Dy. Commissioner of Income Tax, No.534/30, 5th Cross, Circle 12(2), Bangalore. Mahalakshmi Layout, Bangalore-560 086 PAN AAMPJ 2734L Appellant Respondent. Appellant By : Shri H.R. Suresh, F.C.A. Respondent By : Shri P. Dhivakar,JCIT (D.R) Date of Hearing : 30.12.2014. Date of Pronouncement : 13.2.2015. O R D E R Per Shri Jason P. Boaz, A.M. : This appeal by the assessee is preferred against th…