Maria Fernandes Cheryl v. ITO (International Taxation)

123 Taxmann.com 252Income Tax Appellate Tribunal2021#1733 most cited

What is Maria Fernandes Cheryl v. ITO (International Taxation) authority for?

The amendment introducing a tolerance band (safe harbour) under section 50C, allowing a difference of up to 10% between actual sale consideration and stamp duty valuation, applies retrospectively. If the difference falls within this limit, the actual sale consideration is adopted as the full value of consideration for computing capital gains.

65

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2021 to 2026.

Also referred to as

Maria Fernandes Cheryl v. ITO · section 50C · section 43CA · retrospective application · safe harbour · tolerance band · stamp duty valuation · actual sale consideration · full value of consideration · capital gains · circle rate · 10 percent difference

Sections most often in play

Section 50CSection 143(3)Section 43CASection 56(2)(x)Section 250Section 1961Section 142(1)Section 143(2)

Issues it is cited on

section 50c(1)safe harboursection 50(1)section 43csection 43casection 16asection 23asection 56(2)(x)(b)section 50c(2)full value of considerationcircle ratesection 113

Judgments citing Maria Fernandes Cheryl v. ITO (International Taxation)

Poonam Haresh Budhrani, Mumbai vs. CIT(A) 39, Mumbai

In the result, appeal of the assessee is allowed

ITA 1040/MUM/2019[2014-15]Status: DisposedITAT Mumbai08 Oct 2021AY 2014-15
Section 143(3)Section 50CSection 50C(1)Section 54E

…IN THE INCOME TAX APPELLATE TRIBUNAL, ‘C‘ BENCH MUMBAI BEFORE: SHRI VIKAS AWASTHY, JUDICIAL MEMBER & SHRI M.BALAGANESH, ACCOUNTANT MEMBER Ms. Poonam Haresh Budhrani Vs. CIT(A)-39, Mumbai A/402, Jhanavi CHS Ltd. St. Judes School Comp Mumbai – 400 095 PAN/GIR No.ALZPB1926E (Appellant) .. (Respondent) Assessee by Shri Ramesh Jiwnani Revenue by Ms. Shreekala Pardeshi Date of Hearing 02/08/2021 Date of Pronouncement 08/10/2021 आदेश / O R D E R PER M. BALAGANESH (A.M): This appeal in ITA No.1040/Mum/2019 for A.Y.2014-15 arises out of the order by the ld. Commissioner of Income Tax (Appeals)-39, Mumbai in appeal…

Nina Luthra, Noida vs. ITO, Ward- 1(2), Noida

In the result appeal of the assessee is partly allowed

ITA 3861/DEL/2019[2011-12]Status: DisposedITAT Delhi11 Aug 2021AY 2011-12

Bench: Shri Amit Shukla & Shri Prashant Maharishi(Through Video Conferencing) Nina Luthra, F No 20, Sector-37, Vs. Ito, Noida, Uttar Pradesh Ward-1(2), Pan: Actpl6023F Noida (Appellant) (Respondent)

For Appellant: Ms. Aditi Gupta, CAFor Respondent: Shri R. K. Gupta, Sr. DR
Section 143(3)Section 50CSection 50C(2)Section 54Section 69

…considered the rival contentions and find that the introduction of the 3rd proviso to section 50C has been held by three different coordinate benches as retrospective in nature. The coordinate benches in Maria Fernandes Cherly v. ITO (IT )(2021) 187 ITD 738/ 123 Taxmann.com 252 /209 TTJ 850 /198 DTR 137/ 85 ITR 674 (Mum)(Trib), Chadra Prakash Jhunjhunwala Vs. DCIT 113 Taxmann.com 246 and Sandeep Patil Vs. ITO in ITA No. 924/Banglore/Del/2019 has held so. Therefore, we find that issue is squarely covered in favour of the assessee, accordingly, we hold that as the difference between stamp duty valuation u/s 50C is…

M/S Spytech Buildcon, Jaipur vs. Assistant Commissioner of Income Tax, Circle-6, Jaipur

Appeal of the assessee is dismissed

ITA 255/JPR/2019[2014-15]Status: DisposedITAT Jaipur14 Jul 2021AY 2014-15

Bench: Shri Sandeep Gosain, Jm & Shri Vikram Singh Yadav, Am Vk;Dj Vihy La-@Ita No. 255/Jp/2019 Fu/Kzkj.K O"Kz@Assessment Year :2014-15 M/S Spytech Buildcon, Cuke A.C.I.T., Vs. 501, Geetansh Class Of Pearl, Circle-6, K-48-49, Income Tax Colony, Jaipur. Durgapura, Tonk Road, Jaipur, Rajasthan. Lfkk;H Ys[Kk La-@Thvkbzvkj La-@Pan/Gir No.: Abefs 2767 H Vihykfkhz@Appellant Izr;Fkhz@Respondent Fu/Kzkfjrh Dh Vksj Ls@ Assessee By : Shri Rohan Sogani (Ca) & Shri Rajeev Sogani (Ca) Jktlo Dh Vksj Ls@ Revenue By : Smt. Monisha Choudhary (Jcit) Lquokbz Dh Rkjh[K@ Date Of Hearing : 21/06/2021 Mn?Kks"K.Kk Dh Rkjh[K@ Date Of Pronouncement : 14/07/2021 Vkns'K@ Order Per: Sandeep Gosain, J.M. This Is An Appeal Filed By The Assessee Against The Order Of Ld.Cit(A)- 2, Jaipur Dated 25/01/2019 For The A.Y. 2014-15 In The Matter Of Order Passed U/S 143(3) Of The Income Tax Act, 1961 (In Short, The Act), Wherein Following Grounds Have Been Taken. “1. In The Facts & Circumstances Of The Case & In Law, Ld. Cit(A) Has Erred In Confirming The Action Of The Ld. Ao In Making Addition Of Rs. 5,39,711/- U/S 43Ca Of The Income Tax Act, 1961. The Action Of Ld. Cit(A) Is Illegal, Unjustified, Arbitrary & Against The Facts Of The Case. Relief May Please Be Granted By Deleting The Said Addition Of Rs. 5,39,711/-.

For Appellant: Shri Rohan Sogani (CA) &For Respondent: Smt. Monisha Choudhary (JCIT)
Section 143(3)Section 43CSection 50C

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES “A”, JAIPUR Jh lanhi x®lkÃa] U;kf;d lnL; ,oa Jh foØe flag ;kno] ys[kk lnL; ds le{k BEFORE SHRI SANDEEP GOSAIN, JM & SHRI VIKRAM SINGH YADAV, AM vk;dj vihy la-@ITA No. 255/JP/2019 fu/kZkj.k o"kZ@Assessment Year :2014-15 M/s Spytech Buildcon, cuke A.C.I.T., Vs. 501, Geetansh Class of Pearl, Circle-6, K-48-49, Income Tax Colony, Jaipur. Durgapura, Tonk Road, Jaipur, Rajasthan. LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: ABEFS 2767 H vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@ Assessee by : Shri Rohan Sog…

Stalwart Impex Private Limited, Mumbai vs. Income Tax Officer, 15 (3) (4), Mumbai

Appeal of the assessee is allowed

ITA 5752/MUM/2019[2016-17]Status: DisposedITAT Mumbai02 Jul 2021AY 2016-17

Bench: Shri Vikas Awasthyआअसं. 5752/मुं/2019 ("न.व 2016-17) Stalwart Impex Pvt. Ltd., Usha Kiran Residency, Kharwai Naka, Kharwai, Badlapur East, Thane 421 503 Pan: Aaics-4110-J ...... अपीलाथ" /Appellant

For Appellant: Shri Bhadresh JoshiFor Respondent: Ms. Smita Verma
Section 154Section 43C

…आयकर अपील"य अ"धकरण मुंबई पीठ “एस एम सी” , मुंबई "ी "वकास अव"थी, "या"यक सद"य के सम" IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “SMC”, MUMBAI BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER आअसं. 5752/मुं/2019 ("न.व 2016-17) Stalwart Impex Pvt. Ltd., Usha Kiran Residency, Kharwai Naka, Kharwai, Badlapur East, Thane 421 503 PAN: AAICS-4110-J ...... अपीलाथ" /Appellant बनाम Vs. Income Tax Officer 15(3)(4), Room No.15, Ground Floor, Aaykar Bhavan, M.K.Road, Mumbai 400 020 ..... ""तवाद"/Respondent अपीलाथ" "वारा/ Appellant by : Shri Bhadresh Joshi ""तवाद" "वारा/Respondent by : Ms. Smita Verma सुनवाई क" "त"थ/ Date…

M/S. Amrapali Cinema, Meerut vs. ACIT, Meerut

In the result, the appeal of the assessee is allowed

ITA 282/DEL/2017[2012-13]Status: DisposedITAT Delhi28 Apr 2021AY 2012-13

Bench: Shri G.S. Pannu & Shri Kul Bharatassessment Year : 2012-13 M/S. Amrapali Cinema, Acit, C/O-Sh. Anil Kumar Goel, Vs Circle-I, Income Tax Office, 90, Ram Nagar, Hapur Road, Near Bhainsali Ground, Meerut. Delhi Road, Meerut. Pan-Aabfa7846D Appellant Respondent Appellant By Sh. Sanjiv Sapra, Fca. Respondent By Sh. Ashok Gautam, Sr. Dr Date Of Hearing 01.04.2021 Date Of Pronouncement 28.04.2021

Section 143(3)Section 50C

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI “A” BENCH: NEW DELHI (THROUGH VIDEO CONFERENCING) BEFORE SHRI G.S. PANNU, VICE PRESIDENT AND SHRI KUL BHARAT, JUDICIAL MEMBER Assessment Year : 2012-13 M/s. Amrapali Cinema, ACIT, C/o-Sh. Anil Kumar Goel, Vs Circle-I, Income Tax Office, 90, Ram Nagar, Hapur Road, Near Bhainsali Ground, Meerut. Delhi Road, Meerut. PAN-AABFA7846D APPELLANT RESPONDENT Appellant by Sh. Sanjiv Sapra, FCA. Respondent by Sh. Ashok Gautam, Sr. DR Date of Hearing 01.04.2021 Date of Pronouncement 28.04.2021 ORDER PER KUL BHARAT, JM : This appeal filed by the assessee for the assessment year 2…