Ms. Pushpa Devi Tibrewala v. ITO (Hyd)(

95 ITD 363Income Tax Appellate Tribunal2005#6427 most cited

What is Ms. Pushpa Devi Tibrewala v. ITO (Hyd)( authority for?

Section 50C of the Income Tax Act may not apply to transactions where possession was handed over long before the transaction and a memorandum of understanding was entered into subsequently.

18

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2015 to 2022.

Also referred to as

Ms. Pushpa Devi Tibrewala v. ITO · Section 50C · capital gains · property transaction · possession handed over · memorandum of understanding · stamp duty valuation

Judgments citing Ms. Pushpa Devi Tibrewala v. ITO (Hyd)(

Sandeep Hooda, New Delhi vs. Pr.CIT - 7, New Delhi

The appeal is allowed and the impugned order dated 30

ITA 397/DEL/2021[2015-16]Status: DisposedITAT Delhi10 Aug 2022AY 2015-16

Bench: Shri Anil Chaturvedi & Shri Anubhav Sharmasandeep Hooda, Vs. Pr. Cit-7, C/O. Rra Taxindia, D-28, South New Delhi Extension, Part-I, New Delhi (Appellant) (Respondent) Pan: Aacph5453J

For Appellant: Dr. Rakesh Gupta, AdvFor Respondent: Shri H. K. Choudhary, CIT DR
Section 143Section 143(3)Section 263Section 27Section 48Section 50Section 500(1)Section 50CSection 50C(2)Section 50c(2)

…INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “G”: NEW DELHI BEFORE SHRI ANIL CHATURVEDI, ACCOUNTANT MEMBER AND SHRI ANUBHAV SHARMA, JUDICIAL MEMBER Sandeep Hooda, Vs. Pr. CIT-7, C/o. RRA Taxindia, D-28, South New Delhi Extension, Part-I, New Delhi (Appellant) (Respondent) PAN: AACPH5453J Assessee by : Dr. Rakesh Gupta, Adv Shri Somil Agarwal, Adv Shri Deepesh Garg, Adv Revenue by: Shri H. K. Choudhary, CIT DR Date of Hearing: 26/07/2022 10th /08/2022 Date of pronouncement: O R D E R PER ANUBHAV SHARMA, J. M.: 1. The present appeal has been preferred by the Assessee challenging the order dated 30.03.2021 of Ld Pr.…

Jindal Steel & Power Ltd., Hisar vs. CIT, Hisar

In the result, appeal of the assessee is allowed

ITA 1462/DEL/2016[2005-06]Status: DisposedITAT Delhi16 Nov 2021AY 2005-06

Bench: Shri Amit Shukla & Dr. B.R.R. Kumar

For Appellant: Shri Salil Kapoor, AdvFor Respondent: Sh. S. Najmi, CIT
Section 143(3)Section 147Section 263Section 263(2)Section 80

…be subjected to revision under section 263 of the Act: Oil India Ltd. v. CIT, Calcutta: 138 ITR 836 Smt. Sujatha Grower v. DICT: 74 TTJ 347 Sahara India Mutual Benefit Co. Ltd v. ACIT: 74 TTJ 67 Saw Pipes Limited v. ACIT: 94 TTJ 1036 Sonal Garments v. JCIT: 95 ITD 363 Maricolndustries Ltd. v. ACIT: 115 TTJ 497 In view of the aforesaid, the assessment order qua the issues/ claim, which was subject matter of appeal before the CIT(A) and ITAT (deduction under sections 80IA and 80IB of the Act), merged with the order of the CIT(A). Consequently, the said claim/ issue(s) 14 ITA No.1462.Del.2016 Jindal Steel & Powe…

Biz Secure Labs Private Limited, Pune vs. Pr. Commissioner of Income Tax -1, Pune

In the result, the appeal filed by the assessee is dismissed

ITA 1406/PUN/2017[2012-13]Status: DisposedITAT Pune15 Jul 2021AY 2012-13

Bench: Shri Inturi Rama Rao, Am & Shri Partha Sarathi Chaudhury, Jm आयकर अपील सं. / Ita No.1406/Pun/2017 िनधा"रण वष" / Assessment Year : 2012-13

For Appellant: Shri Vardhaman JainFor Respondent: Shri Deepak Garg, CIT
Section 143(3)Section 14ASection 263Section 80I

…e for claiming deduction u/s 80IC. Therefore, the assessment order got merged with the order of ld.CIT(A) as the power of revision u/s 263 is not available to the ld.PCIT and in this connection, he relied on the following judgments : 1) Sonal Garments (Mum) 95 ITD 363. 2) CIT Vs. Shashi Theatre (Guj) 248 ITR 126. 3) Oil India Ltd Vs. CIT (Cal) 138 ITR 836. 4) CIT Vs. Fortleza Developer (Mum) 141 ITD 133 (confirmed by High Court in 374 ITR 510). 7. On the other hand, the ld.CIT D.R. vehemently opposed the submissions of the Ld.A.R. that the claim was examined by the Assessing Officer during the course of asses…

Small Industries Development Bank of India, Mumbai vs. Pr CIT 3, Mumbai

In the result, appeal filed by the assessee ITA No

ITA 2996/MUM/2015[2010-11]Status: DisposedITAT Mumbai13 Dec 2019AY 2010-11

Bench: Shri. G. Manjunatha & Shri. Ravish Sood

Section 263Section 263(1)Section 36Section 36(1)(viia)

…IN THE INCOME TAX APPELLATE TRIBUNAL “E”, BENCH MUMBAI BEFORE SHRI. G. MANJUNATHA, ACCOUNTANT MEMBER & SHRI. RAVISH SOOD, JUDICIAL MEMBER ITA No.2996 & 2997/Mum/2015 (Assessment Years: 2010-11 & 2011-12) Small Industries Development Vs. Pr.CIT-03 Bank Of India Mumbai 4th Floor, Corporate Accounts Department MSME Development Centre C-11, Block-G Bandra Kurla Complex Bandra (East) Mumbai-400 051 PAN/GIR No.AABCS3480N Appellant) .. Respondent) Assessee by Shri. Rakesh Joshi, AR Revenue by Shri. R.Manjunatha Swamy, CIT (DR) Date of Hearing 09/10/2019 Date of Pronouncement 13/12/2019 आदेश आदेश / O R D E R आदेश…

Everest Industries Ltd, New Delhi vs. CIT -I, Thane

In the result, the appeal of the assessee is allowed, as above

ITA 532/MUM/2014[2010-11]Status: DisposedITAT Mumbai21 Aug 2019AY 2010-11

Bench: Shri G.S. Pannu & Shri Ram Lal Negi: A.Y : 2010-11

For Appellant: Shri Soumeh Adak &For Respondent: Shri A. Mohan (CIT)
Section 115JSection 143(3)Section 263

…ble High Court, extensively discussed the meaning of the expression “matter” contained in clause (c) of Explanation 1 to Section 263 of the Act. The Tribunal, after referring to an earlier decision of co-ordinate bench in case of Sonal Garments vs. JCIT[2005] 95 ITD 363 (Mum.) and the decision of Hon’ble Gujarat High Court in the case of CIT vs. Nirmal Chemical Works Pvt. Ltd. [2009] 182 taxman 183 (Gujarat) held that a ‘matter’ might have many aspects and the appeal before the appellate authority might be for one of the aspects of the matter, but not the entire matter itself; yet, the ‘matter’ refers to even one…

Small Industries Development Bank of India, Mumbai vs. CIT -3, Mumbai

In the result the appeal of the assessee is allowed

ITA 3488/MUM/2012[2007-08]Status: DisposedITAT Mumbai17 Jul 2019AY 2007-08

Bench: Shri Pawan Singh & Shri G. Manjunatha

For Appellant: Shri Rakesh Joshi (AR)For Respondent: Shri R. Manjunatha Swamy (CIT-DR)
Section 143(3)Section 254(1)Section 263Section 36(1)Section 36(1)(vii)Section 369Section 369(1)(vii)

…IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SHRI PAWAN SINGH, JUDICIAL MEMBER AND SHRI G. MANJUNATHA, ACCOUNTANT MEMBER I.T.A. No.3488/Mum/2012 (Assessment Year: 2007-08) I.T.A. No.3290/Mum/2014 (Assessment Year: 2007-08) I.T.A. No.3380/Mum/2016 (Assessment Year: 2008-09) I.T.A. No.4111/Mum/2013 (Assessment Year: 2008-09) M/s. Small Industries Commissioner of Income- Tax-3, Aayakar Bhavan, Development Bank of India, M.K. Road, 4th Floor, Corporate Accounts Mumbai-400020 Department, MSME vs. Development Centre, C-11, G Block, Bandra Kurla Complex (East), Mumbai-400051 PAN : AABCS 3480N Appellant…

Sahara India Mutual Benefit Co.Ltd., Lucknow vs. ACIT, Central Circle - I, Lucknow, Kanpur

In the result appeal filed by assessee stands allowed

ITA 607/ALLD/2000[1995-96]Status: DisposedITAT Delhi31 May 2019AY 1995-96

Bench: Smt. Beena A Pillai & Shri Prashant Maharishiay: 1995-96 Sahara India Commercial Vs. Acit, Cc-1 Corporation Ltd. Lucknow (Erstwhile Sahara India Mutual Benefit Co.Ltd.) Sahara India Sadan 2A, Shakespeare Sarani Kolkata 700 071 (Appellant) (Respondent)

For Appellant: Sh. Percy Pardiwala, Sr.Adv. &For Respondent: Sh. J.K.Mishra, CIT, D.R
Section 263

…Mutual Benefit Company Ltd. Vs. ACIT, CC-1, Lucknow administration. Ld.Counsel placed reliance upon the following decisions in support of his arguments:  Marico Industries Ltd vs ACIT reported in (2008) 115 TTJ 497  Sonal Garments vs DCIT reported in (2005) 95 ITD 363  CIT vs Nirma Chemicals Work Pvt. Ltd., reported in (2009) 182 Taxman 183 (GUJ) 6.6. Ld.Counsel submitted that Allahabad Bench of this Tribunal in assessee’s own case for assessment year 1994-95 in ITA No. 509/ALL/1999, on identical issue held order passed under section 263 to be bad in law and void ab initio. He submitted that issue that was con…

Amazia Developers P.Ltd, Mumbai vs. CIT-1, Mumbai

In the result, appeal of assessee is allowed

ITA 2499/MUM/2017[2012-13]Status: DisposedITAT Mumbai08 May 2019AY 2012-13
For Appellant: Shri Vijay Mehta with Anuj Kushandwala –CA’s (AR)For Respondent: Shri R.P. Meena CIT-DR
Section 143Section 143(3)Section 22Section 253Section 254(1)Section 263

…er alone. The learned AR for the assessee in support of his of the submission relied upon the following decision: (i) CIT Vs K.S Sera Productions Ltd. ( 374 ITR 503 Bom) (ii) CIT Vs Nirma Chemicals Works P Ltd [309 ITR 67 (Guj)] (iii) Sonal Garments Vs JCIT ( 95 ITD 363 Mum) (iv) Marico Industries Vs ACIT (313 ITR(AT) 259 (Mum) 5. In second alternative submission the learned AR of the assessee submits the lease rental income earned by the assessee has been assessed as ‘income from other sources’ by the assessing officer. The view taken by assessing 5 Amazia Developers Pvt Ltd officer is one of the possible views…

Nuwave Esolutions Pvt. Ltd., New Delhi vs. CIT, New Delhi

The appeal of the assessee is allowed

ITA 3231/DEL/2013[2007-08]Status: DisposedITAT Delhi27 Dec 2018AY 2007-08

Bench: Shri G. D. Agrawal & Ms Suchitra Kamblenuwave Esolutions Pvt. Ltd. Vs Cit(A) 3Rd Floor, District Centre, Delhi-V Dda Building, Nehru Place New Delhi New Delhi Aabcn5790Q (Respondent) (Appellant)

Section 10Section 10ASection 143(3)Section 148Section 263Section 40Section 92

…328 ITR 148 (Bom) ii. CIT(A) Vs. Nirma Chemicals Works (P) Ltd. 309 ITR 67 (Guj) iii. Marical Industries Ltd. Vs. Asstt. CIT(A) (2008) 5 DTR 263. iv. Sadhu Ram & Sons Vs. Commissioner of Income Tax & Anr. (2007) 108 TTJ (Asr) 373. v. Sonal Garments vs Jt. CIT 95 ITD 363(Mum) (2005) vi. Saw Pipes Ltd vs Add. CIT 94 TTJ 1036(Del) vii. Hoogly Mills vs ACIT 71 ITD 264 (Cal) viii. Sahara India Mutual vs CIT 74 TTJ 67 (All) ix. Sahara vs CIT 90 TTJ 878(A11) x. Sheena Industries vs CIT (Del)(Trib) The Ld AR further submitted that the case of CIT is that Assessing Officer ought to have done more detailed enquiry which c…

Bses Rajdhani Power Ltd., New Delhi vs. Pr.CIT, New Delhi

In the result, impugned order dated 31

ITA 2193/DEL/2016[2010-11]Status: DisposedITAT Delhi16 Dec 2016AY 2010-11

Bench: Shri C.M. Garg & Shri Anadi N Mishra

For Appellant: Shri Ajay Vohra, Sr. AdvocateFor Respondent: Shri Ramesh Chander, CIT DR
Section 143(3)Section 194Section 263

…CIT vs. Nirma Chemicals Works (P.) Ltd. 182 Taxman 183 12. CIT vs. K. Sera Sera Productions Ltd. 374 ITR 503 13. CIT vs. Salonah Tea Co. Ltd. 62 taxman 51 14. Mrs. Sujata Grover vs. DCIT 74 TTJ 347 7 FIT For PUBLICATION (AM) (JM) 15. Sonal Garments vs. JCIT 95 ITD 363 16. Marico Industries Ltd. vs. ACIT 27 SOT 73 17. DIT vs. Jyoti Foundation ; 357 ITR 388 18. CIT vs. Leisure Wear Exports Ltd. 341 ITR 166 19. CIT vs. Hindustan Marketing and Advertising Ltd. 341 ITR 180 20. CIT vs. Ashish Rajpal 320 ITR 674 21. CIT vs. Contimeters Electricals (P) Ltd. 317 ITR 249 (D) Ld. CIT (DR) appearing for Revenue strongly s…

The Azad Nagar, Cooperative Housing, Society Ltd, Mumbai vs. CIT 21, Mumbai

In the result, the appeals filed by the Assessee are dismissed

ITA 3881/MUM/2014[2004-05]Status: DisposedITAT Mumbai28 Sept 2016AY 2004-05

Bench: Shri Amit Shukla & Shri Ashwani Tanejaassessment Year: 2004-05 Vithal Nagar Co. Operative Cit-21 Housing Society Ltd., Pratyakshkar बनाम/ 51 N.S.S. Rd No.11, Bhavan, Bkc Vs. Jia Hind Club, Jvpd Scheme, Bandra (E) Mumbai-400056 Mumbai- 400050 (Revenue) (Respondent ) P.A. No.Aaaat3055F Assessment Year: 2004-05 The Navyug Co. Operative Cit-21 Housing Society Ltd. Pratyakshkar बनाम/ Plot No. 51 Jain Hind Club Bhavan, Bkc Vs. Gldg. N.S. Rd No.11, Jai Hind Bandra (E) Society Jvpd Scheme Vile Mumbai- 400050 Parle (W) Mumbai-400049 (Revenue) (Respondent ) P.A. No.Aaaat0325L Assessment Year: 2004-05

Section 143(3)Section 147Section 263Section 50C

…Reliance in this regard was placed on the judgments 12 Co.Op. Housing Societies in the case of CIT vs. Nirma Chemicals Works P. Ltd. 309 ITR 67 (Gujarat High Court), Ms. Pushpa Devi Tibrewala v. ITO (Hyd)( order dated 7th June, 2013), Sonal Garments vs. JCIT 95 ITD 363(ITAT, Mumbai) and Merico Industries Ltd. vs. ACIT 115 TTJ 497(ITAT, Mumbai). (ii). It has been argued by the Ld. Counsel that section 50C is not applicable upon the impugned transaction. It was submitted that in this case possession was handed over on 29th July, 1975, to the Public Works and Housing Department, the Government of Maharashtra and th…

Vallabhnagar Operative Housing Society Ltd, Mumbai vs. CIT 21, Mumbai

In the result, the appeals filed by the Assessee are dismissed

ITA 3659/MUM/2014[2004-05]Status: DisposedITAT Mumbai28 Sept 2016AY 2004-05

Bench: Shri Amit Shukla & Shri Ashwani Tanejaassessment Year: 2004-05 Vithal Nagar Co. Operative Cit-21 Housing Society Ltd., Pratyakshkar बनाम/ 51 N.S.S. Rd No.11, Bhavan, Bkc Vs. Jia Hind Club, Jvpd Scheme, Bandra (E) Mumbai-400056 Mumbai- 400050 (Revenue) (Respondent ) P.A. No.Aaaat3055F Assessment Year: 2004-05 The Navyug Co. Operative Cit-21 Housing Society Ltd. Pratyakshkar बनाम/ Plot No. 51 Jain Hind Club Bhavan, Bkc Vs. Gldg. N.S. Rd No.11, Jai Hind Bandra (E) Society Jvpd Scheme Vile Mumbai- 400050 Parle (W) Mumbai-400049 (Revenue) (Respondent ) P.A. No.Aaaat0325L Assessment Year: 2004-05

Section 143(3)Section 147Section 263Section 50C

…Reliance in this regard was placed on the judgments 12 Co.Op. Housing Societies in the case of CIT vs. Nirma Chemicals Works P. Ltd. 309 ITR 67 (Gujarat High Court), Ms. Pushpa Devi Tibrewala v. ITO (Hyd)( order dated 7th June, 2013), Sonal Garments vs. JCIT 95 ITD 363(ITAT, Mumbai) and Merico Industries Ltd. vs. ACIT 115 TTJ 497(ITAT, Mumbai). (ii). It has been argued by the Ld. Counsel that section 50C is not applicable upon the impugned transaction. It was submitted that in this case possession was handed over on 29th July, 1975, to the Public Works and Housing Department, the Government of Maharashtra and th…

Suvarna Nagar Co Operative Housing Society Ltd, Mumbai vs. CIT 21, Mumbai

In the result, the appeals filed by the Assessee are dismissed

ITA 3658/MUM/2014[2004-05]Status: DisposedITAT Mumbai28 Sept 2016AY 2004-05

Bench: Shri Amit Shukla & Shri Ashwani Tanejaassessment Year: 2004-05 Vithal Nagar Co. Operative Cit-21 Housing Society Ltd., Pratyakshkar बनाम/ 51 N.S.S. Rd No.11, Bhavan, Bkc Vs. Jia Hind Club, Jvpd Scheme, Bandra (E) Mumbai-400056 Mumbai- 400050 (Revenue) (Respondent ) P.A. No.Aaaat3055F Assessment Year: 2004-05 The Navyug Co. Operative Cit-21 Housing Society Ltd. Pratyakshkar बनाम/ Plot No. 51 Jain Hind Club Bhavan, Bkc Vs. Gldg. N.S. Rd No.11, Jai Hind Bandra (E) Society Jvpd Scheme Vile Mumbai- 400050 Parle (W) Mumbai-400049 (Revenue) (Respondent ) P.A. No.Aaaat0325L Assessment Year: 2004-05

Section 143(3)Section 147Section 263Section 50C

…Reliance in this regard was placed on the judgments 12 Co.Op. Housing Societies in the case of CIT vs. Nirma Chemicals Works P. Ltd. 309 ITR 67 (Gujarat High Court), Ms. Pushpa Devi Tibrewala v. ITO (Hyd)( order dated 7th June, 2013), Sonal Garments vs. JCIT 95 ITD 363(ITAT, Mumbai) and Merico Industries Ltd. vs. ACIT 115 TTJ 497(ITAT, Mumbai). (ii). It has been argued by the Ld. Counsel that section 50C is not applicable upon the impugned transaction. It was submitted that in this case possession was handed over on 29th July, 1975, to the Public Works and Housing Department, the Government of Maharashtra and th…

Vithalnagar Co Operative Housing Society Ltd, Mumbai vs. CIT 21, Mumbai

In the result, the appeals filed by the Assessee are dismissed

ITA 3656/MUM/2014[1995-96]Status: DisposedITAT Mumbai28 Sept 2016AY 1995-96

Bench: Shri Amit Shukla & Shri Ashwani Tanejaassessment Year: 2004-05 Vithal Nagar Co. Operative Cit-21 Housing Society Ltd., Pratyakshkar बनाम/ 51 N.S.S. Rd No.11, Bhavan, Bkc Vs. Jia Hind Club, Jvpd Scheme, Bandra (E) Mumbai-400056 Mumbai- 400050 (Revenue) (Respondent ) P.A. No.Aaaat3055F Assessment Year: 2004-05 The Navyug Co. Operative Cit-21 Housing Society Ltd. Pratyakshkar बनाम/ Plot No. 51 Jain Hind Club Bhavan, Bkc Vs. Gldg. N.S. Rd No.11, Jai Hind Bandra (E) Society Jvpd Scheme Vile Mumbai- 400050 Parle (W) Mumbai-400049 (Revenue) (Respondent ) P.A. No.Aaaat0325L Assessment Year: 2004-05

Section 143(3)Section 147Section 263Section 50C

…Reliance in this regard was placed on the judgments 12 Co.Op. Housing Societies in the case of CIT vs. Nirma Chemicals Works P. Ltd. 309 ITR 67 (Gujarat High Court), Ms. Pushpa Devi Tibrewala v. ITO (Hyd)( order dated 7th June, 2013), Sonal Garments vs. JCIT 95 ITD 363(ITAT, Mumbai) and Merico Industries Ltd. vs. ACIT 115 TTJ 497(ITAT, Mumbai). (ii). It has been argued by the Ld. Counsel that section 50C is not applicable upon the impugned transaction. It was submitted that in this case possession was handed over on 29th July, 1975, to the Public Works and Housing Department, the Government of Maharashtra and th…

The Navyug Co Operative Housing Society Ltd, Mumbai vs. CIT 21, Mumbai

In the result, the appeals filed by the Assessee are dismissed

ITA 3655/MUM/2014[2004-05]Status: DisposedITAT Mumbai28 Sept 2016AY 2004-05

Bench: Shri Amit Shukla & Shri Ashwani Tanejaassessment Year: 2004-05 Vithal Nagar Co. Operative Cit-21 Housing Society Ltd., Pratyakshkar बनाम/ 51 N.S.S. Rd No.11, Bhavan, Bkc Vs. Jia Hind Club, Jvpd Scheme, Bandra (E) Mumbai-400056 Mumbai- 400050 (Revenue) (Respondent ) P.A. No.Aaaat3055F Assessment Year: 2004-05 The Navyug Co. Operative Cit-21 Housing Society Ltd. Pratyakshkar बनाम/ Plot No. 51 Jain Hind Club Bhavan, Bkc Vs. Gldg. N.S. Rd No.11, Jai Hind Bandra (E) Society Jvpd Scheme Vile Mumbai- 400050 Parle (W) Mumbai-400049 (Revenue) (Respondent ) P.A. No.Aaaat0325L Assessment Year: 2004-05

Section 143(3)Section 147Section 263Section 50C

…Reliance in this regard was placed on the judgments 12 Co.Op. Housing Societies in the case of CIT vs. Nirma Chemicals Works P. Ltd. 309 ITR 67 (Gujarat High Court), Ms. Pushpa Devi Tibrewala v. ITO (Hyd)( order dated 7th June, 2013), Sonal Garments vs. JCIT 95 ITD 363(ITAT, Mumbai) and Merico Industries Ltd. vs. ACIT 115 TTJ 497(ITAT, Mumbai). (ii). It has been argued by the Ld. Counsel that section 50C is not applicable upon the impugned transaction. It was submitted that in this case possession was handed over on 29th July, 1975, to the Public Works and Housing Department, the Government of Maharashtra and th…

Jai Hind Co Op Hsg Soc Ltd, Mumbai vs. CIT 21, Mumbai

In the result, the appeals filed by the Assessee are dismissed

ITA 2363/MUM/2014[2004-05]Status: DisposedITAT Mumbai28 Sept 2016AY 2004-05

Bench: Shri Amit Shukla & Shri Ashwani Tanejaassessment Year: 2004-05 Vithal Nagar Co. Operative Cit-21 Housing Society Ltd., Pratyakshkar बनाम/ 51 N.S.S. Rd No.11, Bhavan, Bkc Vs. Jia Hind Club, Jvpd Scheme, Bandra (E) Mumbai-400056 Mumbai- 400050 (Revenue) (Respondent ) P.A. No.Aaaat3055F Assessment Year: 2004-05 The Navyug Co. Operative Cit-21 Housing Society Ltd. Pratyakshkar बनाम/ Plot No. 51 Jain Hind Club Bhavan, Bkc Vs. Gldg. N.S. Rd No.11, Jai Hind Bandra (E) Society Jvpd Scheme Vile Mumbai- 400050 Parle (W) Mumbai-400049 (Revenue) (Respondent ) P.A. No.Aaaat0325L Assessment Year: 2004-05

Section 143(3)Section 147Section 263Section 50C

…Reliance in this regard was placed on the judgments 12 Co.Op. Housing Societies in the case of CIT vs. Nirma Chemicals Works P. Ltd. 309 ITR 67 (Gujarat High Court), Ms. Pushpa Devi Tibrewala v. ITO (Hyd)( order dated 7th June, 2013), Sonal Garments vs. JCIT 95 ITD 363(ITAT, Mumbai) and Merico Industries Ltd. vs. ACIT 115 TTJ 497(ITAT, Mumbai). (ii). It has been argued by the Ld. Counsel that section 50C is not applicable upon the impugned transaction. It was submitted that in this case possession was handed over on 29th July, 1975, to the Public Works and Housing Department, the Government of Maharashtra and th…

Lakshmiwadi Mines & Minerals P. Ltd, Mumbai vs. CIT 21, Mumbai

In the result, appeal filed by the assessee in ITA No

ITA 3587/MUM/2014[2009-10]Status: DisposedITAT Mumbai21 Sept 2016AY 2009-10

Bench: Shri Mahavir Singh & Shri Ramit Kocharआयकर अपील सं./I.T.A. No.3587/Mum/2014 ("नधा"रण वष" / Assessment Year : 2009-10) Lakshmiwadi Mines & Commissioner Of Income बनाम/ Minerals Private Ltd., Tax – 2, V. Yusuf Building, 3 Rd Floor, R. No. 344, Room No. 20, Aayakar Bhavan, 43-45, M.G. Road, Fort, Mumbai – 400 020. Mumbai – 400 001. "थायी लेखा सं./Pan : Aaacl 1756 F .. (अपीलाथ" /Appellant) (""यथ" / Respondent)

For Respondent: Shri A. Ramachandran
Section 143Section 143(3)Section 14ASection 263

…Productions Limited (ITA no 1027 of 2013, order dated 18-03-2015)-Hon’ble Bombay High Court 2. CIT v. Fortaleza Developers (2015) 374 ITR 510(Bom. HC) 3. CIT v. Nirma Chemicals Works Private Limited (2009) 309 ITR 67(Guj.) 4. Sonal Garments v. JCIT (2005) 95 ITD 363(Mum.Trib.) 5. Marico Industries Limited v. ACIT (2009) 312 ITR 259(AT) (Mum)-27 SOT 73(Mum-Trib.) ITA 3587/Mum/2014 9 6. The ld. D.R., on the other hand, relied on the order of the ld. CIT. 7. We have considered the rival contentions and also perused the material placed on record including the case laws relied upon . The case of the assessee…

Infrastructue Development Finance Company Limited, Chennai vs. ACIT, Chennai

In the result, the appeal of the assessee in ITA

ITA 1197/CHNY/2012[2007-08]Status: DisposedITAT Chennai22 May 2015AY 2007-08

Bench: Shri Chandra Poojari & Shri V. Durga Raoआयकर अपील सं./ I.T.A. No.1197/Mds/2012 ("नधा"रण वष" / Assessment Year : 2007-2008)

For Appellant: Shri. Farrokh V. Irani, AdvocateFor Respondent: Shri. N. Rengaraj, IRS, CIT
Section 143(3)Section 263

…to revisional jurisdiction of Commissioner of Income Tax (Admin) in view of Explanation (c) to Sec. 263 of the Act.. For this purpose he relied on the following judgments: (i) Marico Industries Ltd. vs. ACIT 115 TTJ (Mum) 497. (ii) Sonal Garments vs. JCIT, 95 ITD 363 (Mum) (iii) Sujata Grover vs. DCIT, 74 TTJ 347 (Delhi). (iv) Oil India Ltd vs. CIT, 138 (ITR 836) (Calcutta). 5. On the other hand, the ld. Departmental Representative relied on the order of the Commissioner of Income Tax. 6. We have heard both the parties and perused the material on record. We have carefully considered the rival submissions in…