PCIT v. Jigar Jashwant Lal Shah

460 ITR 628High Court2024#17958 most cited
5

judgments rely on this decision, according to BharatTax’s citation analysis of 341,001 Indian tax judgments — from 2024 to 2025.

Sections most often in play

Section 142(1)Section 147Section 56(2)(vii)(c)Section 142A(1)Section 143(3)Section 144BSection 148Section 2(24)

Issues it is cited on

section 56(2)(vii)(c)section 56(2)(vii)section 56(2)stamp duty valuefair market valuesection 56section 142previous yeartransfersection 142(1)section 143(2)section 147

Judgments citing PCIT v. Jigar Jashwant Lal Shah

Thermodyne Dynamics Private Limited, Hyderabad vs. Income-Tax Officer, Ward -17(3), Hyderabad

ITA 500/HYD/2024[2013-2014]Status: DisposedITAT Hyderabad03 Jul 2025AY 2013-2014

Bench: Us :

For Appellant: Shri Pawan KumarFor Respondent: Shri B. Balakrishna -CIT-
Section 11USection 143(2)Section 143(3)Section 14ASection 234BSection 56

…rding the fresh allotment of 3,15,00,000 shares of M/s. Kineta Metals and Minerals Limited (supra) to the assessee company on 02.07.2012 is supported by the judgment of the Hon'ble High Court of Gujarat in the case of Pr. CIT Vs. Jigar Jashwantlal Shah (2024) 460 ITR 628 (Guj). The indulgence of the Hon'ble High Court in the aforementioned case was, inter alia, sought by the revenue for adjudicating the scope of a similarly worded Section 56(2)(vii)(c) of the Act on the following question of law:- "Whether in the facts and circumstances of the case and in law, the learned ITAT has erred in deleting the addition…

Ushasree Bandaru, Hyderabad vs. DCIT., Circle-5(1), Hyderabad

In the result, appeals filed by the assessee are allowed

ITA 529/HYD/2024[2016-17]Status: DisposedITAT Hyderabad20 May 2025AY 2016-17

Bench: Shri Vijay Pal Rao & Shri Madhusudan Sawdiaआ.अपी.सं /Ita No.528/Hyd/2024 (निर्धारण वर्ा/Assessment Year: 2016-17) Satyasree Kamineni Vs. Dy.Commissioner Of Hyderabad Income Tax [Pan :Adopk6338C] Circle-5(1) Hyderabad (Appellant) (Respondent) आ.अपी.सं /Ita No.529/Hyd/2024 (निर्धारण वर्ा/Assessment Year: 2016-17) Ushasree Bandaru Vs. Dy.Commissioner Of Hyderabad Income Tax [Pan :Acepb2973M] Circle-5(1) Hyderabad निर्धाररती द्वधरध/Assessee By: Shri K.C.Devdas, Ar रधजस् व द्वधरध/Revenue By: Shri B.Bala Krishna, Cit-Dr सुिवधई की तधरीख/Date Of Hearing: 01/05/2025 घोर्णध की तधरीख/ 21/05/2025 Date Of Pronouncement: आदेश / Order Per Vijay Pal Rao: These Two Appeals Filed By The Two Related Assessees Are Directed Against Two Separate Orders Of Principal Commissioner Of Income Tax (“Ld.Pcit”) Both Dated 26.03.2024 Passed U/S 263 The Income Tax Act, 1961 (“The Act”) For The Assessment Year 2016-17. Identical Grounds Have Been Raised By Both The Assessees. The Grounds Raised In The Ita No.528/Hyd/2024 Are Reproduced As Under :

For Appellant: Shri K.C.Devdas, ARFor Respondent: Shri B.Bala Krishna, CIT-DR
Section 142(1)Section 147Section 148Section 263Section 56(2)(vii)

…आयकर अपीलीय अधिकरण, हैदराबाद पीठ IN THE INCOME TAX APPELLATE TRIBUNAL Hyderabad ‘A’ Bench, Hyderabad Before Shri Vijay Pal Rao, Vice President and Shri Madhusudan Sawdia, Accountant Member आ.अपी.सं /ITA No.528/Hyd/2024 (निर्धारण वर्ा/Assessment Year: 2016-17) Satyasree Kamineni Vs. Dy.Commissioner of Hyderabad Income Tax [PAN :ADOPK6338C] Circle-5(1) Hyderabad (Appellant) (Respondent) आ.अपी.सं /ITA No.529/Hyd/2024 (निर्धारण वर्ा/Assessment Year: 2016-17) Ushasree Bandaru Vs. Dy.Commissioner of Hyderabad Income Tax [PAN :ACEPB2973M] Circle-5(1) Hyderabad निर्धाररती द्वधरध/Assessee by: Shri K.C.Devdas, AR रधजस…

Satyasree Kamineni, Hyderabad vs. DCIT., Circle-5(1), Hyderabad

In the result, appeals filed by the assessee are allowed

ITA 528/HYD/2024[A.Y.2016-17]Status: DisposedITAT Hyderabad20 May 2025

Bench: Shri Vijay Pal Rao & Shri Madhusudan Sawdiaआ.अपी.सं /Ita No.528/Hyd/2024 (निर्धारण वर्ा/Assessment Year: 2016-17) Satyasree Kamineni Vs. Dy.Commissioner Of Hyderabad Income Tax [Pan :Adopk6338C] Circle-5(1) Hyderabad (Appellant) (Respondent) आ.अपी.सं /Ita No.529/Hyd/2024 (निर्धारण वर्ा/Assessment Year: 2016-17) Ushasree Bandaru Vs. Dy.Commissioner Of Hyderabad Income Tax [Pan :Acepb2973M] Circle-5(1) Hyderabad निर्धाररती द्वधरध/Assessee By: Shri K.C.Devdas, Ar रधजस् व द्वधरध/Revenue By: Shri B.Bala Krishna, Cit-Dr सुिवधई की तधरीख/Date Of Hearing: 01/05/2025 घोर्णध की तधरीख/ 21/05/2025 Date Of Pronouncement: आदेश / Order Per Vijay Pal Rao: These Two Appeals Filed By The Two Related Assessees Are Directed Against Two Separate Orders Of Principal Commissioner Of Income Tax (“Ld.Pcit”) Both Dated 26.03.2024 Passed U/S 263 The Income Tax Act, 1961 (“The Act”) For The Assessment Year 2016-17. Identical Grounds Have Been Raised By Both The Assessees. The Grounds Raised In The Ita No.528/Hyd/2024 Are Reproduced As Under :

For Appellant: Shri K.C.Devdas, ARFor Respondent: Shri B.Bala Krishna, CIT-DR
Section 142(1)Section 147Section 148Section 263Section 56(2)(vii)

…आयकर अपीलीय अधिकरण, हैदराबाद पीठ IN THE INCOME TAX APPELLATE TRIBUNAL Hyderabad ‘A’ Bench, Hyderabad Before Shri Vijay Pal Rao, Vice President and Shri Madhusudan Sawdia, Accountant Member आ.अपी.सं /ITA No.528/Hyd/2024 (निर्धारण वर्ा/Assessment Year: 2016-17) Satyasree Kamineni Vs. Dy.Commissioner of Hyderabad Income Tax [PAN :ADOPK6338C] Circle-5(1) Hyderabad (Appellant) (Respondent) आ.अपी.सं /ITA No.529/Hyd/2024 (निर्धारण वर्ा/Assessment Year: 2016-17) Ushasree Bandaru Vs. Dy.Commissioner of Hyderabad Income Tax [PAN :ACEPB2973M] Circle-5(1) Hyderabad निर्धाररती द्वधरध/Assessee by: Shri K.C.Devdas, AR रधजस…

Sunny Tarunkumar Doshi, Jetpur vs. The ITO, Ward-1(1)(1), Ahmedabad

In the result, appeal filed by the assessee is dismissed

ITA 288/AHD/2021[2014-15]Status: DisposedITAT Ahmedabad14 Feb 2025AY 2014-15

Bench: Smt. Annapurna Gupta & Ms. Suchitra Kambleassessment Year: 2014-15

Section 142(1)Section 143(3)Section 147Section 148Section 234ASection 271(1)(c)Section 56(1)(vii)Section 56(2)(vii)Section 69A

…mmovable property. The appellant most respectfully submits that the word receives in itself includes the element of transfer. Reliance for this proposition is placed upon the judgement of Hon’ble Gujarat High Court in the case of PCIT vs Jigar Jaswantlal Shah 460 ITR 628. It is further most respectfully submitted that when no consideration is - involved in the said transaction, the appellant most respectfully submits that there is no transfer under the provisions of the Act. Reliance is placed upon the judgement of honourable ITAT - Jaipur in the case of ACIT vs. Jjyarajsingh in ITA No.9l/Jp/2019 wherein the hono…

Sills Karingattil Jose, Nedumkandom vs. ITO Ward 2, Thodupuzha

Appeal is partly allowed for statistical purpose

ITA 132/COCH/2023[2016-17]Status: DisposedITAT Cochin19 Nov 2024AY 2016-17

Bench: Shri Satbeer Singh Godara & Shri Amarjit Singhsils Karingattil Jose Income Tax Officer Np 3/406, Karingattil Ward - 2, House, Munnar Road Thodupuzha Vs. Nedumkandom P.O. [Pan: Afopj8789C] (Appellant) (Respondent)

For Appellant: Shri P. M. Veeramani, CAFor Respondent: Smt. V. Swarnalatha, Sr. D.R
Section 2(47)Section 2(47)(V)Section 250Section 50CSection 53ASection 56(2)(vii)

…hareholder in M/s Anson Fincorp Pvt. Ltd. Which allotted him shares via “rights issue”, the same 5 Sils Karingattil Jose could not have held to have “received” u/s 56(2)(vii) of the Act, being in the nature of mere creations than transfer in light of (2024) 460 ITR 628 (Guj.) PCIT Vs. Jigar Jashwantlal Shah rejecting the Revenue’s identical stand as under: 6. Section 56(2)(vii)(c) of the Act, reads as under: "56. (2) In particular, and without prejudice to the generality of the provisions of sub-section (1), the following incomes, shall be chargeable to Income-tax under the head "Income from other sources", na…

PCIT v. Jigar Jashwant Lal Shah (460 ITR 628) — Cited in 5 Judgments | BharatTax