Suraj Lamp & Industries (P) Ltd. v. State of Haryana

340 ITR 1Supreme Court of India2012#1778 most cited

What is Suraj Lamp & Industries (P) Ltd. v. State of Haryana authority for?

A transfer of immovable property by way of sale is legally valid only through a duly stamped and registered deed of conveyance. Unregistered instruments like agreements to sell, General Power of Attorney, or wills do not transfer title or create an interest in the property.

64

judgments rely on this decision, according to BharatTax’s citation analysis of 366,416 Indian tax judgments — from 2016 to 2026.

Also referred to as

Suraj Lamp & Industries v State of Haryana · transfer of immovable property · registered deed of conveyance · agreement to sell · General Power of Attorney sales · section 2(47) Income Tax Act · Registration Act 1908 · date of transfer · capital gains property · legal title transfer

Also reported as

14 Taxmann.com 103

Sections most often in play

Section 1961Section 143(3)Section 54Section 2(47)Section 143(1)Section 1908Section 234BSection 234C

Issues it is cited on

section 2(7)section 53asection 2(47)(v)section 53section 2(47)section 54bdate of transfersection 54transfer of capital assetright to receivesection 50csection 50

Judgments citing Suraj Lamp & Industries (P) Ltd. v. State of Haryana

Mr. Anthony P Lewis, Mumbai vs. ITO-22(1)(1), Mumbai

ITA 1813/MUM/2020[2009-10]Status: DisposedITAT Mumbai06 Jul 2023AY 2009-10
For Appellant: Ms. Aarti Sathe &For Respondent: Smt Sailja Rai
Section 143(3)Section 147Section 54

…gment of the Hon’ble Supreme Court in the case of Rambhau Namdeo Gajre vs. Narayan Bapuji Dhotra : (2004) 8 SCC 614, in the case of CIT vs. Balbir Singh Maini: (2017) 398 ITR 531 (SC) and Suraj Lamp & Industries Pvt. Ltd. vs. State of Haryana and Ors.: (2012) 340 ITR 1 (SC). 6.3.3. Inviting our attention to the application for admission of additional evidence, she pleaded that the additional evidence be admitted. She submitted that the Appellant has placed on record along with the aforesaid application copy of the Property Card issued/prepared by the Assistant Superintendent Cum City Survey Office No. 1/2, Mumba…

Sanjeeva Prasad Ponnapula, New Delhi vs. DCIT, Central Circle -3(2), Hyderabad

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

ITA 392/HYD/2022[2015-16]Status: DisposedITAT Hyderabad12 Jun 2023AY 2015-16

Bench: Shri R.K. Panda & Shri K. Narasimha Chary

For Appellant: Shri P. Murali Mohan Rao, CAFor Respondent: Shri Rajendra Kumar, CIT(DR)
Section 132Section 139(1)Section 139(4)Section 143(2)Section 143(3)Section 153ASection 50C

…mere GPA holder, cannot be taxed in the hands of the assessee. For the above proposition, he relied on the following decisions: i) JCIT vs. D. Seshagiri Rao (2018) 89 Taxmann.com 3 (Hyd. Trib) ii) Suraj Lamps & Industries (P) Ltd vs. State of HNaryana (2012) 340 ITR 1 (S.C) 10. The learned Counsel for the assessee drew the attention of the Bench to the order of the CIT (A) in assessee’s own case for the same A.Y in the first round of litigation vide order passed u/s 143(3) r.w.s. 147 of the Act dated 29.11.2018 wherein the CIT (A) has observed as under: “5.3 On consideration of the above, it is seen that the a…

Sanjeeva Prasad Ponnapula, New Delhi vs. DCIT, Central Circle -3(2), Hyderabad

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

ITA 391/HYD/2022[2013-14]Status: DisposedITAT Hyderabad12 Jun 2023AY 2013-14

Bench: Shri R.K. Panda & Shri K. Narasimha Chary

For Appellant: Shri P. Murali Mohan Rao, CAFor Respondent: Shri Rajendra Kumar, CIT(DR)
Section 132Section 139(1)Section 139(4)Section 143(2)Section 143(3)Section 153ASection 50C

…mere GPA holder, cannot be taxed in the hands of the assessee. For the above proposition, he relied on the following decisions: i) JCIT vs. D. Seshagiri Rao (2018) 89 Taxmann.com 3 (Hyd. Trib) ii) Suraj Lamps & Industries (P) Ltd vs. State of HNaryana (2012) 340 ITR 1 (S.C) 10. The learned Counsel for the assessee drew the attention of the Bench to the order of the CIT (A) in assessee’s own case for the same A.Y in the first round of litigation vide order passed u/s 143(3) r.w.s. 147 of the Act dated 29.11.2018 wherein the CIT (A) has observed as under: “5.3 On consideration of the above, it is seen that the a…

Sanjeeva Prasad Ponnapula, New Delhi vs. DCIT, Central Circle -3(2), Hyderabad

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

ITA 390/HYD/2022[2011-12]Status: DisposedITAT Hyderabad12 Jun 2023AY 2011-12

Bench: Shri R.K. Panda & Shri K. Narasimha Chary

For Appellant: Shri P. Murali Mohan Rao, CAFor Respondent: Shri Rajendra Kumar, CIT(DR)
Section 132Section 139(1)Section 139(4)Section 143(2)Section 143(3)Section 153ASection 50C

…mere GPA holder, cannot be taxed in the hands of the assessee. For the above proposition, he relied on the following decisions: i) JCIT vs. D. Seshagiri Rao (2018) 89 Taxmann.com 3 (Hyd. Trib) ii) Suraj Lamps & Industries (P) Ltd vs. State of HNaryana (2012) 340 ITR 1 (S.C) 10. The learned Counsel for the assessee drew the attention of the Bench to the order of the CIT (A) in assessee’s own case for the same A.Y in the first round of litigation vide order passed u/s 143(3) r.w.s. 147 of the Act dated 29.11.2018 wherein the CIT (A) has observed as under: “5.3 On consideration of the above, it is seen that the a…

ACIT, Central Circle -3(1), Chennai vs. Chennai Properties and Investments Ltd, Chennai

In the result, the appeal filed by the assessee in ITA

ITA 310/CHNY/2022[2016-2017]Status: DisposedITAT Chennai31 Jan 2023AY 2016-2017

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwal

For Appellant: Shri B. Ramakrishnan, FCAFor Respondent: ShriP. SajitKumar,JCIT
Section 132Section 139(4)Section 143(3)Section 2(47)(v)

…आयकरअपीलीयअिधकरण,‘सी’"यायपीठ,चे"ई IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH, CHENNAI "ीमहावीर "सह, , , , उपा"य" एवं"ी मनोज कुमार अ"वाल, , , , लेखा सद"यके सम" BEFORE SHRI MAHAVIR SINGH, VICE PRESIDENTAND SHRI MANOJ KUMAR AGGARWAL, ACCOUNTANT MEMBER आयकरअपीलसं./ITA No.:222/CHNY/2022 िनधा"रण वष"/Assessment Year: 2016-17 Chennai Properties and The ACIT, Investments Ltd., vs. Central Circle – 3(1), 113-114, A Block B Wing, Chennai. 3rd Floor, Mena Kampala Arcade, Sri Theyagaraya Road, T.Nagar, Chennai – 600 017. PAN: AAACC 3726G (अपीलाथ"/Appellant) (""यथ"/Respondent) & आयकरअपीलसं./ITA No.:310/CHNY/2022 िनधा…

DCIT Non Corporate Circle 1, Chennai vs. Muthu Daniel Rajan, Chennai

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

ITA 1727/CHNY/2019[2013-14]Status: DisposedITAT Chennai31 Jan 2023AY 2013-14

Bench: Shri V. Durga Rao, Hon’Ble & Shri G. Manjunatha, Hon’Bleआयकर अपील सं./Ita No.1675/Chny/2019 िनधा"रण वष" /Assessment Year: 2013-14 Mr.Muthu Daniel Rajan, V. The Asst. Commissioner- No.10, Appar Street, Of Income Tax, Kalakshetra Colony, Non-Corporate Circle-1(1), Besant Nagar, Chennai. Chennai-600 090. [Pan: Aadpd 9713 A] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Mr.K.G.Raghunath, AdvFor Respondent: Mr.R.Bhoopathi, Addl.CIT
Section 143(3)Section 54F

…et the benefit of deduction u/s.54F of the Act. In so far as ITA Nos.1632, 1675 & 1727/Chny/2019 :: 10 :: reliance on the decision of the Hon’ble Supreme Court in the case of Suraj Lamp & Industries Pvt. Ltd. v. State of Haryana & Another reported in [2012] 340 ITR 1 (SC), we find that immovable property can be legally and lawfully transferred/conveyed only by a registered deed of conveyance. Further, as per the Stamps and Registration Act, the title and interest in the property will not transfer to the buyer unless such transfer is by way of a deed, as held by the Hon’ble Supreme Court. But, when it comes to…

Muthu Daniel Rajan, Chennai vs. CIT Corporate Circle 1, Chennai

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

ITA 1675/CHNY/2019[2013-14]Status: DisposedITAT Chennai31 Jan 2023AY 2013-14

Bench: Shri V. Durga Rao, Hon’Ble & Shri G. Manjunatha, Hon’Bleआयकर अपील सं./Ita No.1675/Chny/2019 िनधा"रण वष" /Assessment Year: 2013-14 Mr.Muthu Daniel Rajan, V. The Asst. Commissioner- No.10, Appar Street, Of Income Tax, Kalakshetra Colony, Non-Corporate Circle-1(1), Besant Nagar, Chennai. Chennai-600 090. [Pan: Aadpd 9713 A] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Mr.K.G.Raghunath, AdvFor Respondent: Mr.R.Bhoopathi, Addl.CIT
Section 143(3)Section 54F

…et the benefit of deduction u/s.54F of the Act. In so far as ITA Nos.1632, 1675 & 1727/Chny/2019 :: 10 :: reliance on the decision of the Hon’ble Supreme Court in the case of Suraj Lamp & Industries Pvt. Ltd. v. State of Haryana & Another reported in [2012] 340 ITR 1 (SC), we find that immovable property can be legally and lawfully transferred/conveyed only by a registered deed of conveyance. Further, as per the Stamps and Registration Act, the title and interest in the property will not transfer to the buyer unless such transfer is by way of a deed, as held by the Hon’ble Supreme Court. But, when it comes to…

DCIT Non Corporate Circle 1, Chennai vs. Muthu Daniel Rajan, Chennai

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

ITA 1632/CHNY/2019[2014-15]Status: DisposedITAT Chennai31 Jan 2023AY 2014-15

Bench: Shri V. Durga Rao, Hon’Ble & Shri G. Manjunatha, Hon’Bleआयकर अपील सं./Ita No.1675/Chny/2019 िनधा"रण वष" /Assessment Year: 2013-14 Mr.Muthu Daniel Rajan, V. The Asst. Commissioner- No.10, Appar Street, Of Income Tax, Kalakshetra Colony, Non-Corporate Circle-1(1), Besant Nagar, Chennai. Chennai-600 090. [Pan: Aadpd 9713 A] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Mr.K.G.Raghunath, AdvFor Respondent: Mr.R.Bhoopathi, Addl.CIT
Section 143(3)Section 54F

…et the benefit of deduction u/s.54F of the Act. In so far as ITA Nos.1632, 1675 & 1727/Chny/2019 :: 10 :: reliance on the decision of the Hon’ble Supreme Court in the case of Suraj Lamp & Industries Pvt. Ltd. v. State of Haryana & Another reported in [2012] 340 ITR 1 (SC), we find that immovable property can be legally and lawfully transferred/conveyed only by a registered deed of conveyance. Further, as per the Stamps and Registration Act, the title and interest in the property will not transfer to the buyer unless such transfer is by way of a deed, as held by the Hon’ble Supreme Court. But, when it comes to…

Shri Kamaldeep Singh, Phagwara vs. Income Tax Officer Ward-2, Phagwara

In the result, the appeal of the assessee is allowed

ITA 755/ASR/2017[2009-10]Status: DisposedITAT Amritsar20 Dec 2022AY 2009-10

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

For Appellant: Sh. Tarun Bansal, AdvFor Respondent: Mrs. Kanchan Garg, Sr. DR
Section 147Section 2(14)Section 250(4)Section 251(1)(a)Section 251(2)

…IN THE INCOME TAX APPELLATE TRIBUNAL AMRITSAR BENCH, AMRITSAR BEFORE DR. M. L. MEENA, ACCOUNTANT MEMBER AND SH. ANIKESH BANERJEE, JUDICIAL MEMBER I.T.A. No. 755/Asr/2017 Assessment Year: 2009-10 Sh. Kamaldeep Singh Vs. Income Tax Officer, S/o Jasvir Singh Ward-2, Phagwara VPO-Rurka Khurd, Goraya, Teh. Phillaur [PAN: BHJPS 8023A] (Appellant) (Respondent) Appellant by : Sh. Tarun Bansal, Adv. Respondent by : Mrs. Kanchan Garg, Sr. DR Date of Hearing: 17.11.2022 Date of Pronouncement: 20.12.2022 ORDER Per Dr. M. L. Meena, AM: The present appeal has been filed by the assessee against the order dated…

Assistant Commissioner of Income Tax, Central Circel-2(1), Bangalore vs. Sri Mathikere Ramaiah Seetharam, Bangalore

In the result, the appeals filed by the revenue are dismissed and the COs filed by the assessee are partly allowed for statistical purposes

ITA 544/BANG/2021[2016-17]Status: DisposedITAT Bangalore07 Nov 2022AY 2016-17

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri H. Nagin Khincha &For Respondent: Shri M. Mathivanan, D.R
Section 131Section 132(4)Section 153CSection 45(2)

…o sale with the buyers of flat, there was no sale or exchange or relinquishment of any asset. The agreement to sale also did not result in any actual sale of flats. The Supreme Court has in the case of Suraj Lamp & Industries (P) Ltd v State of Haryana [2012] 340 ITR 1 (SC) held that immovable property can be legally and lawfully transferred/conveyed only by a registered deed of conveyance. The Respondent relied upon various case laws Copies of which are available at page nos. 1529 to 1579 of the compilation of case laws filed. 6.5. In support of Respondent’s claim, a detailed written submission was filed before…

Assistant Commissioner of Income Tax, Central Circel-2(1), Bangalore vs. Sri Mathikere Ramaiah Seetharam, Bangalore

In the result, the appeals filed by the revenue are dismissed and the COs filed by the assessee are partly allowed for statistical purposes

ITA 543/BANG/2021[2015-16]Status: DisposedITAT Bangalore07 Nov 2022AY 2015-16

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri H. Nagin Khincha &For Respondent: Shri M. Mathivanan, D.R
Section 131Section 132(4)Section 153CSection 45(2)

…o sale with the buyers of flat, there was no sale or exchange or relinquishment of any asset. The agreement to sale also did not result in any actual sale of flats. The Supreme Court has in the case of Suraj Lamp & Industries (P) Ltd v State of Haryana [2012] 340 ITR 1 (SC) held that immovable property can be legally and lawfully transferred/conveyed only by a registered deed of conveyance. The Respondent relied upon various case laws Copies of which are available at page nos. 1529 to 1579 of the compilation of case laws filed. 6.5. In support of Respondent’s claim, a detailed written submission was filed before…

Assistant Commissioner of Income Tax, Central Circel-2(1), Bangalore vs. Sri Mathikere Ramaiah Seetharam, Bangalore

In the result, the appeals filed by the revenue are dismissed and the COs filed by the assessee are partly allowed for statistical purposes

ITA 542/BANG/2021[2014-15]Status: DisposedITAT Bangalore07 Nov 2022AY 2014-15

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri H. Nagin Khincha &For Respondent: Shri M. Mathivanan, D.R
Section 131Section 132(4)Section 153CSection 45(2)

…o sale with the buyers of flat, there was no sale or exchange or relinquishment of any asset. The agreement to sale also did not result in any actual sale of flats. The Supreme Court has in the case of Suraj Lamp & Industries (P) Ltd v State of Haryana [2012] 340 ITR 1 (SC) held that immovable property can be legally and lawfully transferred/conveyed only by a registered deed of conveyance. The Respondent relied upon various case laws Copies of which are available at page nos. 1529 to 1579 of the compilation of case laws filed. 6.5. In support of Respondent’s claim, a detailed written submission was filed before…

ITO Ward-59(3), New Delhi vs. Babita Gupta, Delhi

ITA 5313/DEL/2019[2014-15]Status: DisposedITAT Delhi18 Oct 2022AY 2014-15

Bench: Shri Challa Nagendra Prasad & Dr. Brr Kumarआ.अ.सं/.I.T.A No.5313/Del/2019 िनधा"रणवष"/Assessment Year:2014-15 बनाम Ito Babita Gupta Ward 59(3), Vs. D-17, Preet Vihar, New Delhi. New Delhi. Pan No. Arppk3182P अपीलाथ" Appellant ""यथ"/Respondent

Section 143(3)Section 54B

…exemption u/s 54B of the Act without appreciating the facts of the case. 3. On the facts and circumstances of the case the Ld.CIT(A) has erred in not appreciating the ratio of binding precedent in the case of M/s Suraj Lamp & Industries Vs. State of Haryana 340 ITR 1 (SC) which held that the sale through unregistered sales agreement, GPA etc. is not valid in the eyes of law. 4. On the facts and circumstances of the case the Ld.CIT(A) has erred in not appreciating that conditions for exemption u/s 54B were not satisfied by the assessee in view of the fact assessee failed get property registered and also failed…

ACIT, Kancheepuram vs. Sadasivan Jayabalan, Kanchipuram

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

ITA 189/CHNY/2019[2012-13]Status: DisposedITAT Chennai08 Sept 2022AY 2012-13

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwalआयकर अपील सं./I.T.A No.:189/Chny/2019 िनधा"रण वष"/ Assessment Year 2012 - 2013 The Acit, Shri Sadasivan Jayabalan, Circle – 1, Vs. No.243, Eswara Nagar, Kancheepuram. Main Road, Veppampattu, Tiruvallur Taluk & District Pincode – 602 024 Pan: Aqqpj 7037A (अपीलाथ"/Appellant) (""यथ"/Respondent) ""यथ" क" ओर से/Respondent By : Shri P. Sajit Kumar, Jcit अपीलाथ" क" ओर से/Appellant By : Shri T. Vasudevan, Advocate सुनवाई क" तार"ख/Date Of Hearing : 08.09.2022 घोषणा क" तार"ख/Date Of Pronouncement : 08.09.2022

For Appellant: Shri T. Vasudevan, AdvocateFor Respondent: Shri P. Sajit Kumar, JCIT
Section 143(1)Section 143(3)Section 147Section 148Section 46ASection 56(2)(vii)

…ld not fall under Section 56(2)(vii) of the Act without considering the ownership of the land. 5. The Commissioner of Income Tax (Appeals) omitted to consider the decision of the Hon’ble Supreme Court in the case of M/s. Suraj Lamp and Industries (P) Limited [340 ITR 1]. - 3 - ITA No.189/CHNY/2019 6. The Commissioner of Income Tax (Appeals) erred in allowing the Assessee’s claim by merely relying the evidences viz. Chitta, Adangal and VAO Certificate without establishing the ownership of the impugned land. 7. The Commissioner of Income Tax (Appeals) omitted to call for remand report u/s.46A of the Act, when the…

M/S Noorani Properties (P) Ltd vs. The Commissioner of Wealth Tax

Appeals are allowed

WTA/11/2016HC Karnataka30 Jun 2022

Bench: P.S.DINESH KUMAR,ANANT RAMANATH HEGDE

Section 27

…7 ITA 3209/2005 c/w. 3165/2005 decided on 20.06.2011 8 ITA No. 591/2008 decided on 18.08.2014 9 [1971] 82 ITR 363 (SC) 10 1954 AIR (SC) 340 11 [1978] 113 ITR 22 (Guj) 12 [2019] 410 ITR 306 (Kar) 13 [2012] 340 ITR 1 (SC) W.T.A No.11 OF 2016 C/W W.T.A NO.9 OF 2016 W.T.A NO.10 OF 2016 11 9. Thus substance of Shri.Ra…

Gurbakshish Singh Batra, New Delhi vs. Pr. CIT - 12, New Delhi

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

ITA 396/DEL/2021[2016-17]Status: DisposedITAT Delhi31 Mar 2022AY 2016-17

Bench: Shri R.K. Panda & Shri N.K. Choudhryassessment Year: 2016-17 Gurbakshish Singh Batra, Vs Pr.Cit-12, E-1511, Wazir Nagr, New Delhi. Kotla Mubarakpur, New Delhi. Pan: Adspb2480J (Appellant) (Respondent) Assessee By : Shri R.S. Singhvi, Ca Revenue By : Shri Shashi Bhushan Sukla, Cit, Dr Date Of Hearing : 15.02.2022 Date Of Pronouncement : 31.03.2022 Order Per R.K. Panda, Am: This Appeal Filed By The Assessee Is Directed Against The Order Dated 22Nd March, 2021 Of The Pcit, Delhi-12, Passed U/S 263 Of The It Act For The Assessment Year 2016-17. 2. Facts Of The Case, In Brief, Are That The Assessee Is An Individual & Filed His Return Of Income On 6Th October, 2016 Declaring The Total Income At Rs.44,86,160/-. The Return Was Processed U/S 143(1) Of The It Act. Subsequently, The Case Of The Assessee Was Selected For ‘Limited Scrutiny’ Based On The Following Reasons:-

For Appellant: Shri R.S. Singhvi, CAFor Respondent: Shri Shashi Bhushan Sukla, CIT, DR
Section 142(1)Section 143(1)Section 143(2)Section 143(3)Section 244ASection 263Section 50C

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH : C : NEW DELHI BEFORE SHRI R.K. PANDA, ACCOUNTANT MEMBER AND SHRI N.K. CHOUDHRY, JUDICIAL MEMBER Assessment Year: 2016-17 Gurbakshish Singh Batra, Vs Pr.CIT-12, E-1511, Wazir Nagr, New Delhi. Kotla Mubarakpur, New Delhi. PAN: ADSPB2480J (Appellant) (Respondent) Assessee by : Shri R.S. Singhvi, CA Revenue by : Shri Shashi Bhushan Sukla, CIT, DR Date of Hearing : 15.02.2022 Date of Pronouncement : 31.03.2022 ORDER PER R.K. PANDA, AM: This appeal filed by the assessee is directed against the order dated 22nd March, 2021 of the PCIT, Delhi-12, passed u/s 263 of the…

Standard Chartered Bank, Mumbai vs. DDIT (It) 2(1), Mumbai

In the result, Appeal filed by the assessee is allowed quashing reopening of assessment and deleting addition on the merits

ITA 7432/MUM/2012[2005-06]Status: DisposedITAT Mumbai27 Jan 2022AY 2005-06

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm Standard Chartered Bank The Dy. Director Of Income- Crescenzo, Tax(International Taxation)- 7Th Floor, C38-39, 2(1), Vs. G Block Bandra Kurla Complex , 1St Floor, Scindia House, Bandra East N.M. Marg, Ballard Pier, Mumbai-400 051 Mumbai-400 038 Appellant .. Respondent Pan No. Aabcs4681D Assessee By : Shri Madhur Agrawal, Advocate Revenue By : Shri Milind Chavan, Dr

For Appellant: ShriFor Respondent: Shri Milind Chavan, DR
Section 133ASection 143(3)Section 144CSection 147Section 148Section 154Section 2(47)Section 45Section 50Section 50C

…IN THE INCOME TAX APPELLATE TRIBUNAL “I” BENCH, MUMBAI BEFORE SHRI PRASHANT MAHARISHI, AM And SHRI PAVAN KUMAR GADALE, JM Standard Chartered Bank The Dy. Director of Income- Crescenzo, tax(International Taxation)- 7th Floor, C38-39, 2(1), Vs. G Block Bandra Kurla Complex , 1st Floor, Scindia House, Bandra East N.M. Marg, Ballard Pier, Mumbai-400 051 Mumbai-400 038 Appellant .. Respondent PAN No. AABCS4681D Assessee by : Shri Madhur Agrawal, Advocate Revenue by : Shri Milind Chavan, DR Date of hearing : 08.12.2021 Date of Pronouncement: 27.01.2022 ORDER PER PRASHANT MAHARISHI, AM: 1. This appeal filed by Standa…

Sri Anjaneyalu Prathipathi, Bengaluru vs. Assistant Commissioner of Income Tax, Central Circle-1(2), Bengaluru

In the result, all the appeals of the assessee are allowed

ITA 2838/BANG/2017[2012-13]Status: DisposedITAT Bangalore27 Dec 2021AY 2012-13

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariassessment Years: 2012-13

For Appellant: Shri V. Srinivasan, AdvocateFor Respondent: Shri Arun Kumar, CIT(TP-2-DR) (ITAT), Bengaluru
Section 132Section 153CSection 2Section 234

…e of transfer of the property by relying on the decision of the Hon'ble Supreme Court in the case of Sanjiv Lal in 365 ITR 389 [SC]. On the other hand, the assessee has also relied upon the judgment of the Hon'ble Supreme Court in Suraj Lamp and Industries in 340 ITR 1 [SC] to contend that there is no transfer on the mere execution of an agreement to sell as it does not create any interest-in the property. The assessee has argued that he has not given possession of the property to M/s. Confident Projects (India) Private Ltd., during the year as the appellant himself secured the possession over the property only i…

Dy. Commissioner of Income Tax, Circle-17(2), Hyderabad vs. Nimmagadda Prasad, Secunderabad

In the result, appeal of the revenue is dismissed

ITA 2157/HYD/2018[2014-15]Status: DisposedITAT Hyderabad25 Aug 2021AY 2014-15

Bench: Shri Satbeer Singh Godara & Shri Laxmi Prasad Sahuassessment Year: 2014-15 Dy. Commissioner Of Vs. Nimmagadda Prasad, Income-Tax, Secunderabad. Circle – 17(2), Hyderabad. Pan – Abkpn 3078N (Appellant) (Respondent) Revenue By: Shri Narayanamurthy Naik Assessee By: Shri K.A. Sai Prasad Date Of Hearing: 10/05/2021 Date Of Pronouncement: 25/08/2021

For Appellant: Shri K.A. Sai PrasadFor Respondent: Shri Narayanamurthy Naik
Section 144Section 50CSection 53A

…IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES “B”: HYDERABAD (THROUGH VIRTUAL CONFERENCE) BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER AND SHRI LAXMI PRASAD SAHU, ACCOUNTANT MEMBER Assessment Year: 2014-15 Dy. Commissioner of Vs. Nimmagadda Prasad, Income-tax, Secunderabad. Circle – 17(2), Hyderabad. PAN – ABKPN 3078N (Appellant) (Respondent) Revenue by: Shri Narayanamurthy Naik Assessee by: Shri K.A. Sai Prasad Date of hearing: 10/05/2021 Date of pronouncement: 25/08/2021 O R D E R PER L.P. SAHU, A.M.: This appeal filed by the Revenue is directed against CIT(A) - 5, Hyderabad’s order dated 07/09/…

V.S. Chandrashekar vs. Assistant Commissioner of Income Tax

In the result, the first substantial question of law is

ITA/70/2015HC Karnataka02 Feb 2021

Bench: ALOK ARADHE,R. NATARAJ

Section 133ASection 142(1)Section 143(2)Section 260Section 260ASection 50C

…ility of said loss would in any case would be revenue neutral. In support of aforesaid submissions, reliance has been placed on SESHASAYEE STEELS P. LTD. V. ACIT (2020) 421 ITR 46 (SC), SURAJ LAMP & INDUSTRIES (P.) LTD. V. STATE OF HARYANA [2012] 340 ITR 1 (SC), GOBIND RAM V. GIAN CHAND, (2000) 7 SCC 548 AT PAGE 550, CIT V. GREENFIELD HOTELS & ESTATES (P.) LTD. [2016] 389 ITR 68 (BOMBAY), ITO V. CH. ATCHAIAH [1996] 218 ITR 239 (SC) & PCIT V. IND SING DEVELOPERS (P.) LTD. [2016] 239 TAXMAN 350 (KARNATAKA), ADDL. COMMISSIONER OF INCOME TAX VS. MADAN LAL AHUJA [1982] 136 ITR 640 (ALLAHABAD),…