Madras in Moturi Lakshmi (Ms.) v. ITO

428 ITR 462High Court2020#24960 most cited
3

judgments rely on this decision, according to BharatTax’s citation analysis of 331,145 Indian tax judgments — from 2024 to 2025.

Sections most often in play

Section 143(3)Section 54Section 54FSection 139(1)Section 143(2)Section 250Section 45Section 54(1)

Issues it is cited on

section 54fsection 54transfernfac

Judgments citing Madras in Moturi Lakshmi (Ms.) v. ITO

Sridhar Reddy Bayapu, Hyderabad vs. DCIT., Circle-3(1), Hyderabad

ITA 841/HYD/2024[2016-17]Status: DisposedITAT Hyderabad19 Mar 2025AY 2016-17

Bench: Us:

Section 139(1)Section 143(2)Section 143(3)Section 54Section 54F

…le proceeds of the old residential house must be utilized by the assessee for the purchase or construction of the new residential house. Our aforesaid view is fortified by the judgment of the Hon’ble High Court of Madras in Moturi Lakshmi (Ms.) Vs. ITO (2020) 428 ITR 462 (Mad). The Hon’ble High Court in its order, had observed, that Section 54F of the Act nowhere envisages that the sale consideration obtained by the assessee from the original capital asset is mandatorily required to be utilized for the purchase or construction of a house property. Also, a similar view had been taken by the Hon’ble High Court of P…

Late Hina Harendra Shah, Mumbai vs. Ward 22(1)(1), Mumbai

ITA 3317/MUM/2024[2013-14]Status: DisposedITAT Mumbai29 Oct 2024AY 2013-14
Section 143(3)Section 250Section 54F

…confirming the decision of the Tribunal reported in (2008) 20 SOT 468 (Mum)] 4 ITA No. 3317/MUM/2024 Assessment Year: 2013-14 (b) M. George Joseph(2022)440 ITR 589 (Karn). (c) CIT Vs. Kapil Kumar Agarwal (2016) 382 ITR 56 (P&H). (d) Ms. Moturi Lakshmi (2020) 428 ITR 462 (Mad) (e) Smt. Sabita Devi Agarwal (2019) 69 ITR (Trib) 231 (Kol). (f) Hansa Shah Vs. ITO (2019) 69 ITR (Trib) 334 (Mum) (g) CIT Vs. R.Srinivasan (2010) 235 CTR 588 (Mad). The Learned Authorized Representative for the Appellant further submitted that the view taken by the Tribunal in the above decisions is in line with the judgment of the Hon'ble…

Basabdutta Dutta., Bankura vs. ITO, Ward- 3(1), Kenduadihi

The appeal of the assessee stands allowed

ITA 868/KOL/2023[2014-15]Status: DisposedITAT Kolkata10 Jul 2024AY 2014-15

Bench: Shri Sanjay Garg & Shri Sanjay Awasthii.T.A. No.868/Kol/2023 Assessment Year: 2014-15 Basabdutta Dutta…………………..……………………....………....Appellant Kayasthapara, P.O+Dist – Bankura, Pin-722101. [Pan: Adtpd8748C] Vs. Ito, Ward-3(1), Bankura….................................................…..…..... Respondent Appearances By: Shri S. M. Surana, Advocate & D.K. Sen, Advocate, Appeared On Behalf Of The Appellant. Shri Sallong Yaden, Cit-Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : May 13, 2024 Date Of Pronouncing The Order : July 11, 2024 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Present Appeal Has Been Preferred By The Assessee Against The Order Dated 06.07.2023 Of The National Faceless Appeal Centre [Hereinafter Referred To As ‘Cit(A)’] Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). 2. The Assessee In This Appeal Has Taken The Following Grounds Of Appeal: “1. For That The Ld. Cit(A)(Nfac) In Consideration Of The Facts & Circumstances Of The Case, Erred In Confirming Disallowance On Account Of Exemption Of Rs.1,65,52,344.00 Claimed U/S 54F On Return Of Income. 2. For That The Ld. Cit(A)(Nfac) In Consideration Of The Facts & Circumstances Of The Case, Is Not Justified To Confirm Addition Of Rs.7,38,588.00 Made U/S 56(2)(Vii) 3. For That The Appellant Reserves His Right To Add To, To Alter, To Amend The Grounds & To Adduce Paper & Document At The Time Of Hearing.”

Section 250Section 54FSection 56(2)(VII)

…arn) pronounced on 09.06.1986 8. The Judgement of the Ld. ITAT, Delhi in Kapil Kumar Agarwal vs DCIT, Circle-1(1), Gurgaoon in ITA No.2630/Del/2015 pronounced on 30.04.2019 9. The Judgement of Hon'ble Madras High Court in MS. Moturi Lakshmi vs ITO vide [2020] 428 ITR 462 (Mad) pronounced on 17.08.2020 10. The Judgement of Hon'ble Delhi High Court in CIT vs Smt. Nilofer I. Singh vide [2009] 309 ITR 233 ((Del) pronounced on 27.08.2008 6.4 We find that the issue is covered by the various decisions of courts of law. The decision of the Coordinate Chennai Bench of the Tribunal in the case of ‘Mr. Muthu Daniel Rajan vs…