Smt. Krishna Bajaj v. ACIT

246 ITR 609Supreme Court of India2000#9258 most cited
12

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2019 to 2023.

Also reported as

100 DTR 370267 CTR 172

Issues it is cited on

section 55(2)section 139(9)section 49fresh tangible materialsection 55going concernvaluation of sharesfull value of considerationtransfer of capital assetindexed cost of acquisitiondate of transfersection 48

Judgments citing Smt. Krishna Bajaj v. ACIT

JCIT(OSD), CENTRAL CIRCLE-1(4), CHENNAI vs. M/S FINANCIAL SOFTWARE AND SYSTEMS PVT. LTD., CHENNAI

In the result, appeal filed by the revenue is dismissed

ITA 148/CHNY/2023[2020-21]Status: DisposedITAT Chennai26 Jul 2023AY 2020-21

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita No.: 148/Chny/2023 िनधा"रण वष" / Assessment Year: 2020-21 Deputy Commissioner Of M/S. Financial Software & Income Tax, V. Systems Pvt Ltd., Central Circle 1(4), No. 42, Ground Floor, Saradha Apartments, 3Rd Main Road, Chennai – 600 034. Gandhi Nagar, Adyar, Chennai – 600 020. [Pan: Aaacf-2351-C] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri. Ar V Sreenviasan, Addl. Cit : Shri. Vijay Narayanan, Ca ""यथ" क" ओर से/Respondent By सुनवाई क" तारीख/Date Of Hearing : 18.07.2023 घोषणा क" तारीख/Date Of Pronouncement : 26.07.2023 आदेश /O R D E R

For Appellant: Shri. AR V Sreenviasan, Addl. CIT

…ecision relied upon by the ld DR on Hon’ble Karnataka High Court supra was rendered in the context of Karnataka Sales Tax Act and not under Income Tax Act. In this regard, we find that the Hon’ble Supreme Court in the case of Jagatram Ahuja vs CIT reported in 246 ITR 609 (SC) had observed as under:- 23. We find that Kantilal Trikamlal's case (supra) supports the view taken in N.S. Getti Chettiar's case (supra). Added to this, section 2(15) of the Estate Duty Act, defining 'property' carne up for consideration in Kantilal Trikamlal's case (supra). We may state here itself that the word sand expressions defined in…

M/S FINANCIAL SOFTWARE AND SYSTEM PRIVATE LIMITED ,CHENNAI vs. DCIT , CORPORATE CIRCLR -2 [1], CHENNAI

In the result, the appeal filed by the assessee is partly allowed

ITA 439/CHNY/2022[2017-18]Status: DisposedITAT Chennai24 Aug 2022AY 2017-18

Bench: Shri G. Manjunatha & Shri Sonjoy Sarmaआयकर अपील सं./I.T.A. No.439/Chny/2022 िनधा"रण वष"/Assessment Year: 2017-18 M/S. Financial Software & Systems Vs. The Deputy Commissioner Of Private Limited, 42, “Saradha”, Ground Income Tax, Corporate Circle 2(1), Floor, 3Rd Main Road, Gandhi Nagar, Room No. 511, 5Th Floor, Wanaparthy Adyar, Chennai 600 020. Block, #121 Uttamar Gandhi Salai, Chennai 600 034. [Pan:Aaacf2351C] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri Ashik Shah, C.A. ""थ" की ओर से/Respondent By : Shri A.S. Sumanth, Jcit सुनवाई की तारीख/ Date Of Hearing : 17.08.2022 घोषणा की तारीख /Date Of Pronouncement : 24.08.2022 आदेश /O R D E R Per G. Manjunatha: This Appeal Filed By The Assessee Is Directed Against The Order Of The Ld. Commissioner Of Income Tax (Appeals) 18, Chennai, Dated 25.02.2022, Relevant To The Assessment Year 2017-18. 2. The Appeal Filed By The Assessee Is Delayed By 31 Days In Filing The Appeal Before The Tribunal Due To Outbreak Of Covid-19 Pandemic & Accordingly, The Delay Is Condoned & Admitted The Appeal For Adjudication.

For Appellant: Shri Ashik Shah, C.AFor Respondent: Shri A.S. Sumanth, JCIT
Section 115JSection 143(3)Section 41(1)

…ecision relied upon by the ld DR on Hon’ble Karnataka High Court supra was rendered in the context of Karnataka Sales Tax Act and not under Income Tax Act. In this regard, we find that the Hon’ble Supreme Court in the case of Jagatram Ahuja vs CIT reported in 246 ITR 609 (SC) had observed as under:- 23. We find that Kantilal Trikamlal's case (supra) supports the view taken in N.S. Getti Chettiar's case (supra). Added to this, section 2(15) of the Estate Duty Act, defining 'property' carne up for consideration in Kantilal Trikamlal's case (supra). We may state here itself that the word sand expressions defined in…

ACIT, JAMMU vs. SH VIKRAMADITYA SINGH, JAMMU

In the result, all the fours appeals filed by the Revenue are dismissed and the three Cross Objections as well as the ground as per Rule 27 are allowed

ITA 269/ASR/2007[1998-99]Status: DisposedITAT Delhi24 Jan 2022AY 1998-99

Bench: Shri R.K. Panda & Shri Sudhanshu Srivastava

For Appellant: Shri C.S. Aggarwal, SrFor Respondent: Shri S.D. Kapila, Spl
Section 139(9)Section 147Section 148

…DCIT reported in 167 TTJ 496 33.4. Referring to the following decisions, he submitted that the Fair Market Value has to be determined and not the value of shares: i. Smt. Krishna Bajaj v. ACIT [2014] 267 CTR 172 HC(Kamataka) ii. Jagatram Ahuja v. CGT [2000] 246 ITR 609 (SC) iii. Smt. B. Subhadra v ITO reported in 92 ITD 285 ITAT (HYD) iv. Addl CIT v Smt Indira Bai 151 ITR 692 (AP) v. Smt. Vasavi Pratap Chand v DCIT 89 ITD 73 (Del) vi. ACGT v K.K. Gosain 66 ITD 26 (Del) 67 ITA.Nos.263/Asr/2003, 267 to 269/Asr/2007 & C.O.Nos.43 to 45/Asr/2007 Shri M.K. Ajatshatru, Jammu & Others, vii. CGT v Smt. K.G. Rajyalakshm…

ACIT, CIR-II, JAMMU vs. SMT. YASHORAJYA LAXMI, JAMMU

In the result, all the fours appeals filed by the Revenue are dismissed and the three Cross Objections as well as the ground as per Rule 27 are allowed

ITA 268/ASR/2007[1998-99]Status: DisposedITAT Delhi24 Jan 2022AY 1998-99

Bench: Shri R.K. Panda & Shri Sudhanshu Srivastava

For Appellant: Shri C.S. Aggarwal, SrFor Respondent: Shri S.D. Kapila, Spl
Section 139(9)Section 147Section 148

…DCIT reported in 167 TTJ 496 33.4. Referring to the following decisions, he submitted that the Fair Market Value has to be determined and not the value of shares: i. Smt. Krishna Bajaj v. ACIT [2014] 267 CTR 172 HC(Kamataka) ii. Jagatram Ahuja v. CGT [2000] 246 ITR 609 (SC) iii. Smt. B. Subhadra v ITO reported in 92 ITD 285 ITAT (HYD) iv. Addl CIT v Smt Indira Bai 151 ITR 692 (AP) v. Smt. Vasavi Pratap Chand v DCIT 89 ITD 73 (Del) vi. ACGT v K.K. Gosain 66 ITD 26 (Del) 67 ITA.Nos.263/Asr/2003, 267 to 269/Asr/2007 & C.O.Nos.43 to 45/Asr/2007 Shri M.K. Ajatshatru, Jammu & Others, vii. CGT v Smt. K.G. Rajyalakshm…

ACIT, JAMMU vs. DR KARAN SINGH, JAMMU

In the result, all the fours appeals filed by the Revenue are dismissed and the three Cross Objections as well as the ground as per Rule 27 are allowed

ITA 267/ASR/2007[1998-99\u005cu005cu005cu005cu005cu005cu005cu005c]Status: DisposedITAT Delhi24 Jan 2022

Bench: Shri R.K. Panda & Shri Sudhanshu Srivastava

For Appellant: Shri C.S. Aggarwal, SrFor Respondent: Shri S.D. Kapila, Spl
Section 139(9)Section 147Section 148

…DCIT reported in 167 TTJ 496 33.4. Referring to the following decisions, he submitted that the Fair Market Value has to be determined and not the value of shares: i. Smt. Krishna Bajaj v. ACIT [2014] 267 CTR 172 HC(Kamataka) ii. Jagatram Ahuja v. CGT [2000] 246 ITR 609 (SC) iii. Smt. B. Subhadra v ITO reported in 92 ITD 285 ITAT (HYD) iv. Addl CIT v Smt Indira Bai 151 ITR 692 (AP) v. Smt. Vasavi Pratap Chand v DCIT 89 ITD 73 (Del) vi. ACGT v K.K. Gosain 66 ITD 26 (Del) 67 ITA.Nos.263/Asr/2003, 267 to 269/Asr/2007 & C.O.Nos.43 to 45/Asr/2007 Shri M.K. Ajatshatru, Jammu & Others, vii. CGT v Smt. K.G. Rajyalakshm…

ACIT, JAMMU vs. SH M.K. AJAT SHATRU, JAMMU

In the result, all the fours appeals filed by the Revenue are dismissed and the three Cross Objections as well as the ground as per Rule 27 are allowed

ITA 263/ASR/2003[1998-99]Status: DisposedITAT Delhi24 Jan 2022AY 1998-99

Bench: Shri R.K. Panda & Shri Sudhanshu Srivastava

For Appellant: Shri C.S. Aggarwal, SrFor Respondent: Shri S.D. Kapila, Spl
Section 139(9)Section 147Section 148

…DCIT reported in 167 TTJ 496 33.4. Referring to the following decisions, he submitted that the Fair Market Value has to be determined and not the value of shares: i. Smt. Krishna Bajaj v. ACIT [2014] 267 CTR 172 HC(Kamataka) ii. Jagatram Ahuja v. CGT [2000] 246 ITR 609 (SC) iii. Smt. B. Subhadra v ITO reported in 92 ITD 285 ITAT (HYD) iv. Addl CIT v Smt Indira Bai 151 ITR 692 (AP) v. Smt. Vasavi Pratap Chand v DCIT 89 ITD 73 (Del) vi. ACGT v K.K. Gosain 66 ITD 26 (Del) 67 ITA.Nos.263/Asr/2003, 267 to 269/Asr/2007 & C.O.Nos.43 to 45/Asr/2007 Shri M.K. Ajatshatru, Jammu & Others, vii. CGT v Smt. K.G. Rajyalakshm…

FINANCIAL SOFTWARE & SYSTEMES PVT. LTD.,CHENNAI vs. DCIT CORPORATE CIRCLE 2(1) , CHENNAI

In the result, the appeals filed by the assessee in ITA Nos

ITA 2127/CHNY/2019[2016-17]Status: DisposedITAT Chennai17 Mar 2020AY 2016-17

Bench: Shri Inturi Rama Rao & Shri Duvvuru Rl Reddy]

For Respondent: Shri. Abani Kanta Nayak, CIT
Section 143(3)

…ecision relied upon by the ld DR on Hon’ble Karnataka High Court supra was rendered in the context of Karnataka Sales Tax Act and not under Income Tax Act. In this regard, we find that the Hon’ble Supreme Court in the case of Jagatram Ahuja vs CIT reported in 246 ITR 609 (SC) had observed as under:- 23. We find that Kantilal Trikamlal's case (supra)supports the view taken in N.S. Getti Chettiar's case (supra). Added to this, section 2(15) of the Estate Duty Act, defining 'property' carne up for consideration in Kantilal Trikamlal's case (supra) . We may state here itself that the word sand expressions defined in…

FINANCIAL SOFTWARE & SYSTEMES PVT. LTD.,CHENNAI vs. DCIT CORPORATE CIRCLE 2(1) , CHENNAI

In the result, the appeals filed by the assessee in ITA Nos

ITA 2126/CHNY/2019[2015-16]Status: DisposedITAT Chennai17 Mar 2020AY 2015-16

Bench: Shri Inturi Rama Rao & Shri Duvvuru Rl Reddy]

For Respondent: Shri. Abani Kanta Nayak, CIT
Section 143(3)

…ecision relied upon by the ld DR on Hon’ble Karnataka High Court supra was rendered in the context of Karnataka Sales Tax Act and not under Income Tax Act. In this regard, we find that the Hon’ble Supreme Court in the case of Jagatram Ahuja vs CIT reported in 246 ITR 609 (SC) had observed as under:- 23. We find that Kantilal Trikamlal's case (supra)supports the view taken in N.S. Getti Chettiar's case (supra). Added to this, section 2(15) of the Estate Duty Act, defining 'property' carne up for consideration in Kantilal Trikamlal's case (supra) . We may state here itself that the word sand expressions defined in…

K GOPAL RAJ, HYD,HYDERABAD vs. DCIT, CEN.CIRCLE-1(3), HYD, HYDERABAD

In the result, appeal of the assessee in ITA No

ITA 773/HYD/2017[2009-10]Status: DisposedITAT Hyderabad15 Feb 2019AY 2009-10

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahmans.No.

For Appellant: Shri K.C. DevdasFor Respondent: Esther N. Hangal
Section 132Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH ‘A', HYDERABAD BEFORE SMT. P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, ACCOUNTANT MEMBER S.No. ITA No. AY Appellant Respondent/ Cross Objector 1&2 342/H/15 Income-tax Kosetty and Kishore, Officer, Ward – C.O. No. 2009-10 Hyderabad. 7(3), Hyderabad. 65/H/16 PAN – AKJPK7013Q 3 & 4 343/H/15 Kosetty and 2009-10 -do- Nagaraju, C.O. No. Hyderabad. 66/H/16 PAN – AEDPR 3702Q 5 765/H/17 2009-10 Asst. Shri K. Gopal Commissioner of Raj, Income-tax, Circle Hyderabad. – 7(1), Hyderabad. PAN – AIBPK 1167E 6 773/H/17 2009-10 Shri K. Gopal Raj, Dy. Hyderabad.…

ACIT, CIRCLE-7(1), HYDERABAD, HYDERABAD vs. K GOPAL RAJ, HYD, HYDERABAD

In the result, appeal of the assessee in ITA No

ITA 765/HYD/2017[2009-10]Status: DisposedITAT Hyderabad15 Feb 2019AY 2009-10

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahmans.No.

For Appellant: Shri K.C. DevdasFor Respondent: Esther N. Hangal
Section 132Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH ‘A', HYDERABAD BEFORE SMT. P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, ACCOUNTANT MEMBER S.No. ITA No. AY Appellant Respondent/ Cross Objector 1&2 342/H/15 Income-tax Kosetty and Kishore, Officer, Ward – C.O. No. 2009-10 Hyderabad. 7(3), Hyderabad. 65/H/16 PAN – AKJPK7013Q 3 & 4 343/H/15 Kosetty and 2009-10 -do- Nagaraju, C.O. No. Hyderabad. 66/H/16 PAN – AEDPR 3702Q 5 765/H/17 2009-10 Asst. Shri K. Gopal Commissioner of Raj, Income-tax, Circle Hyderabad. – 7(1), Hyderabad. PAN – AIBPK 1167E 6 773/H/17 2009-10 Shri K. Gopal Raj, Dy. Hyderabad.…

ITO, WARD-7(3), HYD, HYDERABAD vs. KOSETTY NAGARAJU, HYD, HYDERABAD

In the result, appeal of the assessee in ITA No

ITA 343/HYD/2015[2009-10]Status: DisposedITAT Hyderabad15 Feb 2019AY 2009-10

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahmans.No.

For Appellant: Shri K.C. DevdasFor Respondent: Esther N. Hangal
Section 132Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH ‘A', HYDERABAD BEFORE SMT. P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, ACCOUNTANT MEMBER S.No. ITA No. AY Appellant Respondent/ Cross Objector 1&2 342/H/15 Income-tax Kosetty and Kishore, Officer, Ward – C.O. No. 2009-10 Hyderabad. 7(3), Hyderabad. 65/H/16 PAN – AKJPK7013Q 3 & 4 343/H/15 Kosetty and 2009-10 -do- Nagaraju, C.O. No. Hyderabad. 66/H/16 PAN – AEDPR 3702Q 5 765/H/17 2009-10 Asst. Shri K. Gopal Commissioner of Raj, Income-tax, Circle Hyderabad. – 7(1), Hyderabad. PAN – AIBPK 1167E 6 773/H/17 2009-10 Shri K. Gopal Raj, Dy. Hyderabad.…

ITO, WARD-7(3), HYD, HYDERABAD vs. KOSETTY KISHORE, HYD, HYDERABAD

In the result, appeal of the assessee in ITA No

ITA 342/HYD/2015[2009-10]Status: DisposedITAT Hyderabad15 Feb 2019AY 2009-10

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahmans.No.

For Appellant: Shri K.C. DevdasFor Respondent: Esther N. Hangal
Section 132Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH ‘A', HYDERABAD BEFORE SMT. P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, ACCOUNTANT MEMBER S.No. ITA No. AY Appellant Respondent/ Cross Objector 1&2 342/H/15 Income-tax Kosetty and Kishore, Officer, Ward – C.O. No. 2009-10 Hyderabad. 7(3), Hyderabad. 65/H/16 PAN – AKJPK7013Q 3 & 4 343/H/15 Kosetty and 2009-10 -do- Nagaraju, C.O. No. Hyderabad. 66/H/16 PAN – AEDPR 3702Q 5 765/H/17 2009-10 Asst. Shri K. Gopal Commissioner of Raj, Income-tax, Circle Hyderabad. – 7(1), Hyderabad. PAN – AIBPK 1167E 6 773/H/17 2009-10 Shri K. Gopal Raj, Dy. Hyderabad.…

Smt. Krishna Bajaj v. ACIT (246 ITR 609) — Cited in 12 Judgments | BharatTax