South India Minerals Corporation v. Assistant Commissioner of Income Tax, Circle-XIV, Chennai

417 ITR 306High Court2019#24917 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 348,607 Indian tax judgments — from 2023 to 2024.

Issues it is cited on

transfer section 143 section 14 section 143(3)india total income document

Judgments citing South India Minerals Corporation v. Assistant Commissioner of Income Tax, Circle-XIV, Chennai

DCIT, Circle - 11(1), Kolkata vs. M/S. Graphite India Ltd., Kolkata

In the result, considering the discussions made above, the appeal filed by the Revenue is partly allowed and the cross objection filed by the assessee are dismissed

ITA 473/KOL/2018[2007-08]Status: DisposedITAT Kolkata13 Sept 2024AY 2007-08

Bench: Sri Sanjay Garg & Sri Sanjay Awasthi

Section 143(3)Section 144C(3)Section 62Section 801ASection 80I

…nt became owner for the purposes of LTCG through agreement dated 28.02.1972 itself and not when the sale deed was executed on 24.04.1987. For this purpose, reliance needs to be placed on the case of South India Minerals Corporation vs. ACIT reported in [2019] 417 ITR 306 (Madras). In this case the assessee was allotted two industrial sheds by Small Industries Development Corporation in 1988. However, the sale deed for these sheds was executed only in 1996. It was to be considered that the assessee Page 9 of 23 I.T.A. No.: 473/KOL/2018 C.O. No.: 65/KOL/2018 Assessment Year: 2007-08 M/s. Graphite India Ltd. had b…

Tanvi Sandeep Mathur, Ahmedabad vs. The DCIT, Circle-7(1), Ahmedabad

In the result, appeal of the assessee is allowed

ITA 20/AHD/2020[2011-12]Status: DisposedITAT Ahmedabad15 Jul 2024AY 2011-12

Bench: Smt. Annapurna Gupta & Ms. Suchitra Kambleassessment Year: 2011-12

Section 143(1)Section 143(2)Section 143(3)Section 147Section 148Section 148(2)Section 151Section 151(2)Section 54

…279 ITR 552 (Guj) 4) Hon’ble Gauhati High Court in the case of CIT vs. Anilaben Upendra Shah (2003) 262 ITR 657. 5) Hon’ble Madras High Court in the case of South India Minerals Corporation vs. Assistant Commissioner of Income Tax, Circle-XIV, Chennai (2019) 417 ITR 306 (Madras) Assessment Year: 2011-12 Page 8 of 9 6) Hon’ble Punjab & Haryana High Court in case of Ms. Madhu Kaul vs. Commissioner of Income Tax [2014) 43 taxmann.com 417 (Punjab & Haryana) 7) Hon’ble ITAT Ahmedabad in case of ITO vs Kashmiraben M. Parikh [1993] 66 Taxman 31 (Ahd) (Mag) 8) Hon’ble ITAT Mumbai in the case of Anita D Kanjani vs. ACIT…

ACIT Circle-28(1), New Delhi vs. Modesty Garments, New Delhi

In the result, the appeal of the Revenue stands dismissed

ITA 183/DEL/2020[2014-15]Status: DisposedITAT Delhi29 Mar 2023AY 2014-15

Bench: Shri Shamim Yahya & Ms. Astha Chandraasstt. Year: 2014-15 Acit Vs. M/S Modesty Garments, Circle-28(1), B-304, New Friends Colony, New Delhi. New Delhi – 110 065 Pan Aaafm1598F (Appellant) (Respondent)

For Appellant: Sh. Mohit Gupta, CA, Sh. NeerajFor Respondent: Shri Sumit Kumar Verma, Sr. DR

Section 143(1)Section 194A(3)(iv)Section 194ISection 37(1)Section 40Section 68

…from the sale deed itself that the land was allotted to the assessee firm in the year 2008 i.e., beyond a period of thirty six months. 10.9 I have also found that the High Court of Madras in the case of South India Mineral Corporation Ltd. Vs ACIT Chennai in 417 ITR 306 (Madras) it is specifically held in para 18 & 19 as under:- 8 & CO No 132/Del/2022 "18. We agree with the learned counsel for the Revenue to a certain extent that the circular was issued bearing in mind the cases arising under Sections 54 and 54A of the TP Act, more particularly, relating to residential accommodation, but what we note from the…