R 121 (AP), Alapati Venkataramiah vs. CIT (1965) 57 ITR 185 (SC), Octavius Steel & Co. Ltd. v. Asstt. CIT

83 ITD 87Income Tax Appellate Tribunal2002#12978 most cited
8

judgments rely on this decision, according to BharatTax’s citation analysis of 346,713 Indian tax judgments — from 2018 to 2022.

Issues it is cited on

section 45(2)section 2(47)(v)legal expensessection 53aproject completion methodsection 53joint development agreementsection 2(47)full value of considerationjdapercentage completion methodsection 57(iii)

Judgments citing R 121 (AP), Alapati Venkataramiah vs. CIT (1965) 57 ITR 185 (SC), Octavius Steel & Co. Ltd. v. Asstt. CIT

M/S Futuristic Diagnostic Imaging Centre Private Limited, Bangalore vs. The Income Tax Officer Ward-2(3)(4), Bangalore

In the result the appeal filed by assessee stands dismissed

ITA 259/BANG/2019[2014-15]Status: DisposedITAT Bangalore18 Feb 2022AY 2014-15
For Appellant: Shri G. Venkatesh, AdvocateFor Respondent: Shri Mathivanan .M, CIT DR
Section 234Section 51

…-trade over such fair market value is required to be assessed as "business income". Page 11 of 15 11.4 In this regard, we refer to the decision of the Hon’ble Special Bench of the Tribunal at Calcutta, in case of Octavius Steel & Co Ltd. v. Asstt. CIT [2002] 83 ITD 87 (Cal.) (SB), wherein it was held as under: "On a plain reading of the aforesaid section 45(2) it is clear that this provision was enacted for computing capital gains in respect of transfer of converted asset into stock-in-trade of a business. It has been provided therein that such profit arising from the transfer by way of conversion as stock-in- t…

M/S. S P R Developers Private Limited, Bangalore vs. Deputy Commissioner of Income Tax, Central Circle- 1(3), Bangalore

In the result, all the appeals filed by the assessee are allowed

ITA 297/BANG/2020[2008-09]Status: DisposedITAT Bangalore09 Feb 2022AY 2008-09

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri L Bharath, C.AFor Respondent: Shri Pradeep Kumar, CIT (DR)
Section 153A

…(P) Ltd. vs. CIT (1991) 98 CTR (SC) 153 : (1991) 191 ITR 647 (SC),Ghanshyamdas Kishan Chander vs. CIT (1980) 121 ITR 121 (AP), Alapati Venkataramiah vs. CIT (1965) 57 ITR 185 (SC), Octavius Steel & Co. Ltd. vs. Asstt. CIT (2003) 78 TTJ 170 (Kol)(SB) : (2002) 83 ITD 87 (Kol)(SB) and Dy. CIT vs. Crest Hotels Ltd. (2002) 75 TTJ (Mumbai) 771 : (2001) 78 ITD 213 (Mumbai) relied on.” ITA No.295, 296 & 297/Bang/2020 Page 16 of 27 (ii) B.L Subbaraya Vs. DCIT, 9 SOT 297 (Bang. – Trib.), wherein the Tribunal held as under:- “The fact which is undisputed is that the entire settlement is still a subject-matter of disput…

M/S. S P R Developers Private Limited, Bangalore vs. Deputy Commissioner of Income Tax, Central Circle- 1(3), Bangalore

In the result, all the appeals filed by the assessee are allowed

ITA 296/BANG/2020[2007-08]Status: DisposedITAT Bangalore09 Feb 2022AY 2007-08

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri L Bharath, C.AFor Respondent: Shri Pradeep Kumar, CIT (DR)
Section 153A

…(P) Ltd. vs. CIT (1991) 98 CTR (SC) 153 : (1991) 191 ITR 647 (SC),Ghanshyamdas Kishan Chander vs. CIT (1980) 121 ITR 121 (AP), Alapati Venkataramiah vs. CIT (1965) 57 ITR 185 (SC), Octavius Steel & Co. Ltd. vs. Asstt. CIT (2003) 78 TTJ 170 (Kol)(SB) : (2002) 83 ITD 87 (Kol)(SB) and Dy. CIT vs. Crest Hotels Ltd. (2002) 75 TTJ (Mumbai) 771 : (2001) 78 ITD 213 (Mumbai) relied on.” ITA No.295, 296 & 297/Bang/2020 Page 16 of 27 (ii) B.L Subbaraya Vs. DCIT, 9 SOT 297 (Bang. – Trib.), wherein the Tribunal held as under:- “The fact which is undisputed is that the entire settlement is still a subject-matter of disput…

M/S. S P R Developers Private Limited, Bangalore vs. Deputy Commissioner of Income Tax, Central Circle- 1(3), Bangalore

In the result, all the appeals filed by the assessee are allowed

ITA 295/BANG/2020[2006-07]Status: DisposedITAT Bangalore09 Feb 2022AY 2006-07

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri L Bharath, C.AFor Respondent: Shri Pradeep Kumar, CIT (DR)
Section 153A

…(P) Ltd. vs. CIT (1991) 98 CTR (SC) 153 : (1991) 191 ITR 647 (SC),Ghanshyamdas Kishan Chander vs. CIT (1980) 121 ITR 121 (AP), Alapati Venkataramiah vs. CIT (1965) 57 ITR 185 (SC), Octavius Steel & Co. Ltd. vs. Asstt. CIT (2003) 78 TTJ 170 (Kol)(SB) : (2002) 83 ITD 87 (Kol)(SB) and Dy. CIT vs. Crest Hotels Ltd. (2002) 75 TTJ (Mumbai) 771 : (2001) 78 ITD 213 (Mumbai) relied on.” ITA No.295, 296 & 297/Bang/2020 Page 16 of 27 (ii) B.L Subbaraya Vs. DCIT, 9 SOT 297 (Bang. – Trib.), wherein the Tribunal held as under:- “The fact which is undisputed is that the entire settlement is still a subject-matter of disput…

Nisha Sarawgi, Ranchi vs. ACIT, Circle-2, Ranchi

Appeal is partly allowed in above terms

ITA 137/RAN/2019[2015-16]Status: DisposedITAT Ranchi21 Feb 2020AY 2015-16

Bench: Shri S.S.Godara & Dr. A.L. Sainiassessment Year :2015-16

Section 143(3)Section 2(47)(iii)Section 45(2)Section 54ESection 54F

…IN THE INCOME TAX APPELLATE TRIBUNAL RANCHI BENCH, RANCHI Before Shri S.S.Godara, Judicial Member and Dr. A.L. Saini, Accountant Member Assessment Year :2015-16 Nisha Sarawgi ACIT, Circle-2, 5A, बनाम 206, Mahabir Tower, J.D. Main Road, Central V/s. Compound, main Road, Revenue Building, Ranchi-834001 Annex Building, [PAN No.AFZPS 8212 G] Ranchi-834001 .. अपीलाथ" /Appellant ""यथ"/Respondent Shri K.M. Roy, AR & अपीलाथ" क" ओर से/By Appellant Shri P.S. Paul, AR Mrs. Nisha Singhmar, JCIT-DR ""यथ" क" ओर से/By Respondent 02-03-2020 सुनवाई क" तार"ख/Date of Hearing 02-03-2020 घोषणा क" तार"ख/Date of Pronouncement आदे…

Sunita Adukia, Ranchi vs. DCIT Cir-2, Ranchi

In the result, appeal is partly allowed

ITA 15/RAN/2018[13-14]Status: DisposedITAT Ranchi30 Oct 2019

Bench: S/Shri Chandra Mohan Gargassessment Year: 2013-14

For Appellant: Shri Rajiv Ranjan Mittal, CAFor Respondent: Shri P.K.Mondal, Addl. CIT(DR)
Section 132Section 143(3)Section 153Section 153ASection 54

…IN THE INCOME TAX APPELLATE TRIBUNAL, RANCHI ‘SMC’ BENCH, RANCHI BEFORE S/SHRI CHANDRA MOHAN GARG, JUDICIAL MEMBER Assessment Year: 2013-14 Rajesh Kumar Adukia, Vyapar Vs. DCIT, Circle-2, Ranchi Bhawan, Lalji Hirji Road, S.N.G. Road, Ranchi PAN/GIR No.AAWPA 4845 R (Appellant) .. ( Respondent) Assessment Year: 2013-14 Sunita Adukia, Vyapar Bhawan, Vs. DCIT, Circle-2, Ranchi Lalji Hirji Road, S.N.G. Road, Ranchi PAN/GIR No.AAWPA 4846 R (Appellant) .. ( Respondent) Assessee by : Shri Rajiv Ranjan Mittal, CA Revenue by : Shri P.K.Mondal, Addl. CIT(DR) Date of Hearing : 29/08/2019 Date of Pronouncement : 30/10/20…

Mahaveer Yadav, Jaipur vs. ITO, Jaipur

In the result, the appeal of the assessee is partly allowed for statistical purposes

ITA 209/JPR/2017[2011-12]Status: DisposedITAT Jaipur27 Feb 2018AY 2011-12
For Appellant: Shri P.C. Parwal (CA)For Respondent: Smt. Neena Jeph (Addl.CIT)
Section 2(14)

…s realization of the stock-in-trade over such fair market value is required to be assessed as “business income”. 21. In this regard, reference can be drawn to the decision of the Special Bench of the Tribunal in case of Octavius Steel & Co ltd vs ACIT [2002] 83 ITD 87 (Cal)(SB) wherein it was held as under: “On a plain reading of the aforesaid section 45(2) it is clear that this provision was enacted for computing capital gains in respect of transfer of converted asset into stock-in-trade of a business. It has been provided therein that such profit arising from the transfer by way of conversion as stock-in- tra…

Pradeep Vatrana, Alwar vs. DCIT, Alwar

In the result, the appeal filed by the assessee is allowed for statistical purposes

ITA 930/JPR/2016[2012-13]Status: DisposedITAT Jaipur27 Feb 2018AY 2012-13
For Appellant: Shri P.C. Parwal (CA)For Respondent: Shri P. P. Meena (JCIT)
Section 54

…uch fair market value is required to be assessed as “business income”. 16 Pradeep Vatrana, Alwar vs. DCIT, Alwar 8. In this regard, reference can be drawn to the decision of the Special Bench of the Tribunal in case of Octavius Steel & Co ltd vs ACIT [2002] 83 ITD 87 (Cal)(SB) wherein it was held as under: “On a plain reading of the aforesaid section 45(2) it is clear that this provision was enacted for computing capital gains in respect of transfer of converted asset into stock-in-trade of a business. It has been provided therein that such profit arising from the transfer by way of conversion as stock-in- tra…

R 121 (AP), Alapati Venkataramiah vs. CIT (1965) 57 ITR 185 (SC), Octavius Steel & Co. Ltd. v. Asstt. CIT (83 ITD 87) — Cited in 8 Judgments | BharatTax