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“joint development agreement”

Capital GainsSection 45(5A)Section 45(5A)386 judgments

The decision most relied on for joint development agreement is CIT v. Balbir Singh Maini (398 ITR 531), cited in 228 judgments on BharatTax.

Leading authorities on joint development agreement

CIT v. Balbir Singh Maini
398 ITR 531 · 2017 · Supreme Court
228
citing judgments

A transfer of immovable property, for the purpose of capital gains under section 2(47)(v) of the Income-tax Act, occurs only when the agreement allowing possession in part performance of a contract is a registered instrument, as mandated by Section 53A of the Transfer of Property Act.

Chaturbhuj Dwarkadas Kapadia v. CIT
260 ITR 491 · 2003 · High Court
150
citing judgments

For capital gains purposes, a 'transfer' under section 2(47)(v) occurs and capital gains arise in the year when possession of the property is handed over in part performance of a contract, such as a joint development agreement. This was the settled position before the specific provisions of section 45(5A) were introduced.

CIT v. T.K. Dayalu
202 Taxmann 531 · 2011 · High Court
58
citing judgments

In a Joint Development Agreement (JDA), capital gains arise for chargeability to tax when the complete control over the property is passed to the developer, with the date of such transfer of control being relevant for determining the assessment year. This includes considerations of possession under Section 53A of the Transfer of Property Act.

CIT v. V.R. Karpagam
373 ITR 127 · 2015 · High Court
40
citing judgments

The principles for exemption under Section 54 of the Income-tax Act apply equally to Section 54F, allowing exemption for multiple residential units received under a joint development agreement if the assessment year is prior to the Finance (No. 2) Act, 2014 amendment.

Potla Nageswara Rao v. DCIT
365 ITR 249 · 2014 · High Court
35
citing judgments

Handing over possession of property under a Development Agreement-cum-GPA in exchange for built-up area constitutes a transfer of a capital asset, triggering capital gains tax, as it satisfies the conditions under Section 2(47)(v) read with Section 53A of the Transfer of Property Act.

Seshasayee Steels (P.) Ltd. v. CIT
421 ITR 46 · 2020 · Supreme Court
33
citing judgments

Handing over possession under a Joint Development Agreement (JDA) does not constitute a 'transfer' under Section 2(47)(v) of the Income Tax Act, 1961, read with Section 53A of the Transfer of Property Act.

CIT v. Dr. T. K. Dayalu
14 Taxmann.com 120 · 2011 · High Court
32
citing judgments

Capital gains arise at the time of execution of a Joint Development Agreement (JDA) and handing over of possession of property to the developer, due to the concept of part performance.

Seshasayee Steels (P.) Ltd. v. Asstt. CIT
115 Taxmann.com 5 · 2020 · Supreme Court
23
citing judgments

Granting a license to a developer for property development does not constitute 'allowing possession' under section 53A of the Transfer of Property Act, and therefore section 2(47)(v) of the Income Tax Act is not attracted.

Judgments citing joint development agreement

ACIT., Central Circle-1(1), Hyderabad vs. Giridhari Constructions, Hyderabad

In the result, appeal filed by the assessee for A

ITA 275/HYD/2024[2013-14]Status: DisposedITAT Hyderabad28 Aug 2024AY 2013-14

Bench: Shri Manjunatha, G. & Shri K. Narasimha Chary

For Appellant: Shri P. Murali Mohan Rao, CAFor Respondent: : Shri Kumar Pranav, CIT( DR)
Section 132Section 132(4)Section 139

Giridhari Constructions executed project in the name of Executive Park and constructed 518 Flats, in about 8 acres 9 guntas of land under joint development agreement near Appas Junction, Rajendranagar Village & Mandal and the project was started in the year 2006 and was completed in the year ... further noted that the appellant firm entered into a Joint Development Agreement with Mohd. Bin Ahmed and others for development of land admeasuring about 19 acres 7 guntas situated at Jadcherla, Mahaboobnagar Distt. The project is developed in the name of Celebrity Town, and it consists of 193 Plots

Giridhari Constructions, Hyderabad vs. ACIT, Central Circle-1(1), Hyderabad

In the result, appeal filed by the assessee for A

ITA 219/HYD/2024[2018-19]Status: DisposedITAT Hyderabad28 Aug 2024AY 2018-19

Bench: Shri Manjunatha, G. & Shri K. Narasimha Chary

For Appellant: Shri P. Murali Mohan Rao, CAFor Respondent: : Shri Kumar Pranav, CIT( DR)
Section 132Section 132(4)Section 139

Giridhari Constructions executed project in the name of Executive Park and constructed 518 Flats, in about 8 acres 9 guntas of land under joint development agreement near Appas Junction, Rajendranagar Village & Mandal and the project was started in the year 2006 and was completed in the year ... further noted that the appellant firm entered into a Joint Development Agreement with Mohd. Bin Ahmed and others for development of land admeasuring about 19 acres 7 guntas situated at Jadcherla, Mahaboobnagar Distt. The project is developed in the name of Celebrity Town, and it consists of 193 Plots

Giridhari Constructions, Hyderabad vs. ACIT, Central Circle-1(1), Hyderabad

In the result, appeal filed by the assessee for A

ITA 218/HYD/2024[2017-18]Status: DisposedITAT Hyderabad28 Aug 2024AY 2017-18

Bench: Shri Manjunatha, G. & Shri K. Narasimha Chary

For Appellant: Shri P. Murali Mohan Rao, CAFor Respondent: : Shri Kumar Pranav, CIT( DR)
Section 132Section 132(4)Section 139

Giridhari Constructions executed project in the name of Executive Park and constructed 518 Flats, in about 8 acres 9 guntas of land under joint development agreement near Appas Junction, Rajendranagar Village & Mandal and the project was started in the year 2006 and was completed in the year ... further noted that the appellant firm entered into a Joint Development Agreement with Mohd. Bin Ahmed and others for development of land admeasuring about 19 acres 7 guntas situated at Jadcherla, Mahaboobnagar Distt. The project is developed in the name of Celebrity Town, and it consists of 193 Plots

Giridhari Constructions, Hyderabad vs. ACIT, Central Circle-1(1), Hyderabad

In the result, appeal filed by the assessee for A

ITA 217/HYD/2024[2016-17]Status: DisposedITAT Hyderabad28 Aug 2024AY 2016-17

Bench: Shri Manjunatha, G. & Shri K. Narasimha Chary

For Appellant: Shri P. Murali Mohan Rao, CAFor Respondent: : Shri Kumar Pranav, CIT( DR)
Section 132Section 132(4)Section 139

Giridhari Constructions executed project in the name of Executive Park and constructed 518 Flats, in about 8 acres 9 guntas of land under joint development agreement near Appas Junction, Rajendranagar Village & Mandal and the project was started in the year 2006 and was completed in the year ... further noted that the appellant firm entered into a Joint Development Agreement with Mohd. Bin Ahmed and others for development of land admeasuring about 19 acres 7 guntas situated at Jadcherla, Mahaboobnagar Distt. The project is developed in the name of Celebrity Town, and it consists of 193 Plots

Giridhari Constructions, Hyderabad vs. ACIT, Central Circle-1(1), Hyderabad

In the result, appeal filed by the assessee for A

ITA 216/HYD/2024[2015-16]Status: DisposedITAT Hyderabad28 Aug 2024AY 2015-16

Bench: Shri Manjunatha, G. & Shri K. Narasimha Chary

For Appellant: Shri P. Murali Mohan Rao, CAFor Respondent: : Shri Kumar Pranav, CIT( DR)
Section 132Section 132(4)Section 139

Giridhari Constructions executed project in the name of Executive Park and constructed 518 Flats, in about 8 acres 9 guntas of land under joint development agreement near Appas Junction, Rajendranagar Village & Mandal and the project was started in the year 2006 and was completed in the year ... further noted that the appellant firm entered into a Joint Development Agreement with Mohd. Bin Ahmed and others for development of land admeasuring about 19 acres 7 guntas situated at Jadcherla, Mahaboobnagar Distt. The project is developed in the name of Celebrity Town, and it consists of 193 Plots

Giridhari Constructions, Hyderabad vs. ACIT, Central Circle-1(1), Hyderabad

In the result, appeal filed by the assessee for A

ITA 215/HYD/2024[2014-15]Status: DisposedITAT Hyderabad28 Aug 2024AY 2014-15

Bench: Shri Manjunatha, G. & Shri K. Narasimha Chary

For Appellant: Shri P. Murali Mohan Rao, CAFor Respondent: : Shri Kumar Pranav, CIT( DR)
Section 132Section 132(4)Section 139

Giridhari Constructions executed project in the name of Executive Park and constructed 518 Flats, in about 8 acres 9 guntas of land under joint development agreement near Appas Junction, Rajendranagar Village & Mandal and the project was started in the year 2006 and was completed in the year ... further noted that the appellant firm entered into a Joint Development Agreement with Mohd. Bin Ahmed and others for development of land admeasuring about 19 acres 7 guntas situated at Jadcherla, Mahaboobnagar Distt. The project is developed in the name of Celebrity Town, and it consists of 193 Plots

Giridhari Constructions, Hyderabad vs. ACIT, Central Circle-1(1), Hyderabad

In the result, appeal filed by the assessee for A

ITA 214/HYD/2024[2013-14]Status: DisposedITAT Hyderabad28 Aug 2024AY 2013-14

Bench: Shri Manjunatha, G. & Shri K. Narasimha Chary

For Appellant: Shri P. Murali Mohan Rao, CAFor Respondent: : Shri Kumar Pranav, CIT( DR)
Section 132Section 132(4)Section 139

Giridhari Constructions executed project in the name of Executive Park and constructed 518 Flats, in about 8 acres 9 guntas of land under joint development agreement near Appas Junction, Rajendranagar Village & Mandal and the project was started in the year 2006 and was completed in the year ... further noted that the appellant firm entered into a Joint Development Agreement with Mohd. Bin Ahmed and others for development of land admeasuring about 19 acres 7 guntas situated at Jadcherla, Mahaboobnagar Distt. The project is developed in the name of Celebrity Town, and it consists of 193 Plots

Shuvro Chattaraj, Kolkata vs. PCIT, Burdwan

In the result, the appeal of the assessee is partly allowed

ITA 226/KOL/2022[2015-16]Status: DisposedITAT Kolkata28 Aug 2024AY 2015-16

Bench: Shri Rajpal Yadav & Shri Rakesh Mishraassessment Year: 2015-16

For Appellant: Shri Vinod Kumar Jain, FCAFor Respondent: Shri Subhendu Datta, CIT, DR
Section 143(3)Section 263Section 54E

short term capital gains. The assessee paid taxes as applicable in both the years. 6. On 26.09.2014, the assessee entered into a fresh Joint Development Agreement (JDA), this time duly registered, with Tanvee Green city (P) Ltd. represented by its director Mr. Apurba Shyam. The agreement was executed on fresh ... would be pertinent to mention that the assessee is one of the directors in M/s Tanvee Green City (P) Ltd. with which second joint development agreement was executed. 15. The Ld. DR relied upon the order of the Ld. PCIT and requested that the order of the Ld. PCIT

Jaishree Varadaraj, Coimbatore vs. ITO, International Taxation Ward, Coimbatore

In the result, appeal filed by the assessee is allowed

ITA 171/CHNY/2024[2018-19]Status: DisposedITAT Chennai28 Aug 2024AY 2018-19

Bench: Shri Aby T. Varkey & Shri Amitabh Shuklaआयकर अपील सं./Ita No.171/Chny/2024 िनधा"रण वष"/Assessment Year: 2018-19 V. Shri Jaishree Varadaraj, The Ito, 1547-A, Avinashi Road, International Taxation Ward, Peelamedu, Coimbatore. Coimbatore-641 004. [Pan: Abgpv 5575 L] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri N. Arjun Raj, AdvocateFor Respondent: Shri P. Sajit Kumar, JCIT
Section 139(1)Section 143(3)Section 144C(13)Section 147Section 148

opening of assessment, and brought to his notice that he (the assessee) being the landlord of immovable property, had entered into Joint Development Agreement (hereinafter in short ‘JDA’) with the developer to built flats, and agreed to give him (developer) 45% of built up area along with undivided share ... owner of property at Traveler’s Bungalow Road on which the apartments "SHREE" have been built. The assessee had entered into a Joint Development Agreement (JDA) dated 05.10.2012 with M/s.Foundation One Infrastructure (Developer) for construction of these apartments. As per the JDA, the Developer had to construct and deliver

K H Gurunath Lr of Late K L Srihari, Bangalore vs. DCIT Central Circle 1(1), Bangalore

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

ITA 1268/BANG/2024[2010-11]Status: DisposedITAT Bangalore27 Aug 2024AY 2010-11

Bench: Smt. Beena Pillai & Shri Laxmi Prasad Sahuassessment Year : 2010-11

For Appellant: Shri V. Sridhar, CAFor Respondent: Shri Srinivasa Karthik Devara
Section 142(1)Section 147Section 148Section 246

appeal. 2. Briefly stated the facts of the case are that the assessee, Lt. K.L. Srihari, along with others entered into supplementary joint development agreement on 23.7.2009 with the builder, Prestige Estate Page 2 of 5 Projects Pvt. Ltd. under which property bearing municipal nos. 3 & 5, presently clubbed

Kalyan Development Corporation, Kalyan vs. Assistant Commissioner of Income Tax, Central Circle-2, Thane

ITA 4530/MUM/2023[2018-2019]Status: DisposedITAT Mumbai27 Aug 2024AY 2018-2019

Bench: Shri Girish Agrawal & Shri Sunil Kumar Singh

Section 132Section 143(3)Section 153ASection 153DSection 68

observed that Shri Ashok Sudam Patil had given statement on oath that he had received a cash of Rs.50 lakhs in relation to Joint Development Agreement with Shri Dinesh Krishna Patil. Assessee was issued a show cause notice for explaining these documents and transactions noted therein. Assessee contended before

Mr Mangesh D Gaikar, Kalyan vs. Assistant Commissioner of Income Tax, Central Circle-2, Thane

ITA 4525/MUM/2023[2018-2019]Status: DisposedITAT Mumbai27 Aug 2024AY 2018-2019

Bench: Shri Girish Agrawal & Shri Sunil Kumar Singh

Section 132Section 143(3)Section 153ASection 153DSection 68

IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH MUMBAI BEFORE SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER AND SHRI SUNIL KUMAR SINGH

Mangeshi Enterprises, Kalyan vs. Assistant Commissioner of Income Tax Central Circle-2, Thane

ITA 4492/MUM/2023[2014-2015]Status: DisposedITAT Mumbai27 Aug 2024AY 2014-2015

Bench: Shri Girish Agrawal & Shri Sunil Kumar Singh

Section 132Section 143(3)Section 153ASection 153DSection 68

observed that Shri Ashok Sudam Patil had given statement on oath that he had received a cash of Rs.50 lakhs in relation to Joint Development Agreement with Shri Dinesh Krishna Patil. Assessee was issued a show cause notice for explaining these documents and transactions noted therein. Assessee contended before ... given by Shri Ashok Sudam Patil that he had received cash of Rs.50 lakhs from Shri Dinesh Krishna Patil in relation with the joint development agreement. However, the correct fact is that assessee had entered into a joint development agreement on 31.12.2014 in respect of land at Survey No.69, Hissa

Kalyan Development Corporation, Kalyan vs. Assistant Commissioner of Income Tax Central Circle-2 Thane, Thane

ITA 4490/MUM/2023[2016-17]Status: DisposedITAT Mumbai27 Aug 2024AY 2016-17

Bench: Shri Girish Agrawal & Shri Sunil Kumar Singh

Section 132Section 143(3)Section 153ASection 153DSection 68

IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH MUMBAI BEFORE SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER AND SHRI SUNIL KUMAR SINGH

Bhushan Radhakishan Chechani, Aurangabad vs. ITO Ward-3 Jalna, Jalna

In the result, appeal of the assessee is allowed for statistical purpose

ITA 1340/PUN/2024[2013-14]Status: DisposedITAT Pune23 Aug 2024AY 2013-14

Bench: Dr.Dipak P. Ripote & Shir Vinay Bhamoreआयकर अपील सं. / Ita No.1340/Pun/2024 िनधा"रण वष" / Assessment Year: 2013-14 Ashok Radhakrishan Chechnai, V The Income Tax Officer, Plot No.B-56, Sector C-N-4, S Ward-1, Jalna. Cidco, Aurangabad – 431001 Pan: Aappc5074R Appellant/ Assessee Respondent / Revenue Assessee By Shri Sanjeevkuamr B Kabra – Ar Revenue By Shri Sandeep P Sathe – Jcit(Dr) Date Of Hearing 22/08/2024 Date Of Pronouncement 23/08/2024 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Is An Appeal Filed By Assessee Against The Order Of Ld.Commissioner Of Income Tax(Appeal)/Jcit(A), Gwalior Passed Under Section 250 Of The Income Tax Act, Dated 28.02.2024 For The A.Y.2013-14. The Assessee Has Raised The Following Grounds Of Appeal : “1. Whether The Learned Assessing Officer Is Justified In Passing The Assessment Order For The Year On The Basis Of Joint Development Agreement Without Verifying The Fact That Possession Of Plot Till Ashok Radhakishan Chechnai [A]

Section 148Section 148(1)Section 250Section 250(4)Section 250(6)Section 251Section 251(1)(a)Section 54F

grounds of appeal : “1. Whether the learned Assessing Officer is justified in passing the assessment order for the year on the basis of Joint Development Agreement without verifying the fact that possession of plot till Ashok Radhakishan Chechnai [A] 24/07/2014 remains with me/us. 2) The addition ... learned Assessing Officer has erred considering my share as l/6th in the profit on Joint Development Agreement at Rs. 1133892/- for the year under appeal even though the possession of plot taken by the developer in in FY 2014-15(AY 2015-16). My total share for capital gain works

Nalapad Properties, Bangalore vs. The Deputy Commissioner of Incomer Tax, Central Circle-2(3), Bangalore

ITA 1297/BANG/2024[2017-18]Status: DisposedITAT Bangalore16 Aug 2024AY 2017-18
For Appellant: Sri H. Guruswamy, ITP &For Respondent: Shri Kiran D., D.R
Section 139(9)Section 143(2)Section 153CSection 250Section 45

/BEL/OI which was seized on 28.12.2017. The seized material A'/BEL/OI seized on 28.12.2017 as mentioned above, contained Agreements, Memorandums, supplementary agreement, joint Development Agreements other documents pertaining to M/S Nalpad Hotels and Convention Centre. Seized Material marked as A/BCVDPL//B2/01To A/BCVDPL/ B2/06 and A/BEL/01 seized on 28.12.2017. A/BEL/01 contains ... following: Page No 117 | Joint Development Agreement between to 160 Nalapad Hotels and Convention Centre and Brigade Enterprises Ltd. Dated 17.1.2008 Page No 169 | General Power of Attorney dated to 173 17.01.2008 Page No 174 | Supplementary Agreement between to 179 Nalapad Hotels and Convention Centre and Brigade Enterprises Ltd. Dated

ACIT, Central Circle-2(4), Hyderabad vs. Raja Babu Nimmaturi, Hyderabad

In the result, appeal filed by the assessee in ITA

ITA 701/HYD/2022[2018-19]Status: DisposedITAT Hyderabad14 Aug 2024AY 2018-19

Bench: Shri Manjunatha, G.A N D Shri K. Narasimha Charis.No Ita Nos. Appellant Respondent A.Y 591/Hyd/2022 Shri Ramesh Babu 1 Acit, Central Circle 2017-18 2 619/Hyd/2022 Nimmatoori Hyderabad 2(4) Hyderabad 2018-19 Pan:Acspn1659G 3 700/Hyd/2022 Acit, Central Circle 2(4) Shri Ramesh Babu 2018-19 Hyderabad Nimmatoori Hyderabad Pan:Acspn1659G 4 311/Hyd/2022 Raja Babu Nimmatoori 2013-14 589/Hyd/2022 Hyderabad Acit, Central Circle 5 2016-17 Pan:Acspn1662R 2(4) Hyderabad 6 590/Hyd/2022 2017-18 7 621/Hyd/2022 2018-19 8 701/Hyd/2022 Acit, Central Circle Raja Babu 2018-19 2(4) Hyderabad Nimmatoori Hyderabad Pan:Acspn1662R 9 337/Hyd/2022 Yashoda Nimmatoori Acit, Central Circle 2016-17 593/Hyd/2022 Hyderabad 2(4) Hyderabad 10 2017-18 618/Hyd/2022 Pan:Acspn1657J 11 2018-19 332/Hyd/2022 12 Anudeep Nimmattoori Acit, Central Circle 2016-17 13 475/Hyd/2022 Hyderabad 2(4) Hyderabad 2017-18 476/Hyd/2022 Pan:Ahbpn2081Q 14 2018-19 15 592/Hyd/2022 Sulochana Acit, Central Circle 2017-18 Nimmattoori 2(4) Hyderabad 16 620/Hyd/2022 2018-19 Pan:Acspn1664K 594/Hyd/2022 Manjusha Nimmatoori 17 Acit, Central Circle 2018-19 Hyderabad 2(4) Hyderabad Pan:Acspn1666M िनधा""रती "ारा/Assessee By: Shri P. Murali Mohan Rao, Ca राज" व "ारा/Revenue By:: Shri Shakeer Ahmed, Dr सुनवाई की तारीख/Date Of Hearing: 13/06/2024 घोषणा की तारीख/Pronouncement: 14/08/2024

For Appellant: Shri P. Murali Mohan Rao, CAFor Respondent: : Shri Shakeer Ahmed, DR
Section 132Section 153ASection 56(2)(vii)Section 56(2)(x)Section 57

Addition in respect of increase in capital account as per balance sheet. iv) Unaccounted sale proceeds received from JVJ Structures (P) Ltd (Joint Development Agreement). v) Long-Term Capital Gain (sold to JVG Structures (P) Ltd – Dev Agreement 5437/2017 (agriculture land). Page ... erred in not appreciating the fact that the agreement of sale dated 14.09.2016 is cancelled by way of subsequent joint development agreement cum GPA Page 19 of 133 ITA Nos 591 619 700 Ramesh Babu and Others between the appellants, M/s. Aishwarya Infra Developers (P) Ltd and M/s. JVG Structures

ACIT, Central Circle-2(4), Hyderabad vs. Ramesh Babu Nimmatoori, Hyderabad

In the result, appeal filed by the assessee in ITA

ITA 700/HYD/2022[2018-19]Status: DisposedITAT Hyderabad14 Aug 2024AY 2018-19

Bench: Shri Manjunatha, G.A N D Shri K. Narasimha Charis.No Ita Nos. Appellant Respondent A.Y 591/Hyd/2022 Shri Ramesh Babu 1 Acit, Central Circle 2017-18 2 619/Hyd/2022 Nimmatoori Hyderabad 2(4) Hyderabad 2018-19 Pan:Acspn1659G 3 700/Hyd/2022 Acit, Central Circle 2(4) Shri Ramesh Babu 2018-19 Hyderabad Nimmatoori Hyderabad Pan:Acspn1659G 4 311/Hyd/2022 Raja Babu Nimmatoori 2013-14 589/Hyd/2022 Hyderabad Acit, Central Circle 5 2016-17 Pan:Acspn1662R 2(4) Hyderabad 6 590/Hyd/2022 2017-18 7 621/Hyd/2022 2018-19 8 701/Hyd/2022 Acit, Central Circle Raja Babu 2018-19 2(4) Hyderabad Nimmatoori Hyderabad Pan:Acspn1662R 9 337/Hyd/2022 Yashoda Nimmatoori Acit, Central Circle 2016-17 593/Hyd/2022 Hyderabad 2(4) Hyderabad 10 2017-18 618/Hyd/2022 Pan:Acspn1657J 11 2018-19 332/Hyd/2022 12 Anudeep Nimmattoori Acit, Central Circle 2016-17 13 475/Hyd/2022 Hyderabad 2(4) Hyderabad 2017-18 476/Hyd/2022 Pan:Ahbpn2081Q 14 2018-19 15 592/Hyd/2022 Sulochana Acit, Central Circle 2017-18 Nimmattoori 2(4) Hyderabad 16 620/Hyd/2022 2018-19 Pan:Acspn1664K 594/Hyd/2022 Manjusha Nimmatoori 17 Acit, Central Circle 2018-19 Hyderabad 2(4) Hyderabad Pan:Acspn1666M िनधा""रती "ारा/Assessee By: Shri P. Murali Mohan Rao, Ca राज" व "ारा/Revenue By:: Shri Shakeer Ahmed, Dr सुनवाई की तारीख/Date Of Hearing: 13/06/2024 घोषणा की तारीख/Pronouncement: 14/08/2024

For Appellant: Shri P. Murali Mohan Rao, CAFor Respondent: : Shri Shakeer Ahmed, DR
Section 132Section 153ASection 56(2)(vii)Section 56(2)(x)Section 57

Addition in respect of increase in capital account as per balance sheet. iv) Unaccounted sale proceeds received from JVJ Structures (P) Ltd (Joint Development Agreement). v) Long-Term Capital Gain (sold to JVG Structures (P) Ltd – Dev Agreement 5437/2017 (agriculture land). Page ... erred in not appreciating the fact that the agreement of sale dated 14.09.2016 is cancelled by way of subsequent joint development agreement cum GPA Page 19 of 133 ITA Nos 591 619 700 Ramesh Babu and Others between the appellants, M/s. Aishwarya Infra Developers (P) Ltd and M/s. JVG Structures

Raja Babu Nimmatoori, Hyderabad vs. ACIT, Central Circle-2(4), Hyderabad

In the result, appeal filed by the assessee in ITA

ITA 621/HYD/2022[2018-19]Status: DisposedITAT Hyderabad14 Aug 2024AY 2018-19

Bench: Shri Manjunatha, G.A N D Shri K. Narasimha Charis.No Ita Nos. Appellant Respondent A.Y 591/Hyd/2022 Shri Ramesh Babu 1 Acit, Central Circle 2017-18 2 619/Hyd/2022 Nimmatoori Hyderabad 2(4) Hyderabad 2018-19 Pan:Acspn1659G 3 700/Hyd/2022 Acit, Central Circle 2(4) Shri Ramesh Babu 2018-19 Hyderabad Nimmatoori Hyderabad Pan:Acspn1659G 4 311/Hyd/2022 Raja Babu Nimmatoori 2013-14 589/Hyd/2022 Hyderabad Acit, Central Circle 5 2016-17 Pan:Acspn1662R 2(4) Hyderabad 6 590/Hyd/2022 2017-18 7 621/Hyd/2022 2018-19 8 701/Hyd/2022 Acit, Central Circle Raja Babu 2018-19 2(4) Hyderabad Nimmatoori Hyderabad Pan:Acspn1662R 9 337/Hyd/2022 Yashoda Nimmatoori Acit, Central Circle 2016-17 593/Hyd/2022 Hyderabad 2(4) Hyderabad 10 2017-18 618/Hyd/2022 Pan:Acspn1657J 11 2018-19 332/Hyd/2022 12 Anudeep Nimmattoori Acit, Central Circle 2016-17 13 475/Hyd/2022 Hyderabad 2(4) Hyderabad 2017-18 476/Hyd/2022 Pan:Ahbpn2081Q 14 2018-19 15 592/Hyd/2022 Sulochana Acit, Central Circle 2017-18 Nimmattoori 2(4) Hyderabad 16 620/Hyd/2022 2018-19 Pan:Acspn1664K 594/Hyd/2022 Manjusha Nimmatoori 17 Acit, Central Circle 2018-19 Hyderabad 2(4) Hyderabad Pan:Acspn1666M िनधा""रती "ारा/Assessee By: Shri P. Murali Mohan Rao, Ca राज" व "ारा/Revenue By:: Shri Shakeer Ahmed, Dr सुनवाई की तारीख/Date Of Hearing: 13/06/2024 घोषणा की तारीख/Pronouncement: 14/08/2024

For Appellant: Shri P. Murali Mohan Rao, CAFor Respondent: : Shri Shakeer Ahmed, DR
Section 132Section 153ASection 56(2)(vii)Section 56(2)(x)Section 57

Addition in respect of increase in capital account as per balance sheet. iv) Unaccounted sale proceeds received from JVJ Structures (P) Ltd (Joint Development Agreement). v) Long-Term Capital Gain (sold to JVG Structures (P) Ltd – Dev Agreement 5437/2017 (agriculture land). Page ... erred in not appreciating the fact that the agreement of sale dated 14.09.2016 is cancelled by way of subsequent joint development agreement cum GPA Page 19 of 133 ITA Nos 591 619 700 Ramesh Babu and Others between the appellants, M/s. Aishwarya Infra Developers (P) Ltd and M/s. JVG Structures

Sulochana Nimmatoori, Hyderabad vs. ACIT, Central Circle-2(4), Hyderabad

In the result, appeal filed by the assessee in ITA

ITA 620/HYD/2022[2018-19]Status: DisposedITAT Hyderabad14 Aug 2024AY 2018-19

Bench: Shri Manjunatha, G.A N D Shri K. Narasimha Charis.No Ita Nos. Appellant Respondent A.Y 591/Hyd/2022 Shri Ramesh Babu 1 Acit, Central Circle 2017-18 2 619/Hyd/2022 Nimmatoori Hyderabad 2(4) Hyderabad 2018-19 Pan:Acspn1659G 3 700/Hyd/2022 Acit, Central Circle 2(4) Shri Ramesh Babu 2018-19 Hyderabad Nimmatoori Hyderabad Pan:Acspn1659G 4 311/Hyd/2022 Raja Babu Nimmatoori 2013-14 589/Hyd/2022 Hyderabad Acit, Central Circle 5 2016-17 Pan:Acspn1662R 2(4) Hyderabad 6 590/Hyd/2022 2017-18 7 621/Hyd/2022 2018-19 8 701/Hyd/2022 Acit, Central Circle Raja Babu 2018-19 2(4) Hyderabad Nimmatoori Hyderabad Pan:Acspn1662R 9 337/Hyd/2022 Yashoda Nimmatoori Acit, Central Circle 2016-17 593/Hyd/2022 Hyderabad 2(4) Hyderabad 10 2017-18 618/Hyd/2022 Pan:Acspn1657J 11 2018-19 332/Hyd/2022 12 Anudeep Nimmattoori Acit, Central Circle 2016-17 13 475/Hyd/2022 Hyderabad 2(4) Hyderabad 2017-18 476/Hyd/2022 Pan:Ahbpn2081Q 14 2018-19 15 592/Hyd/2022 Sulochana Acit, Central Circle 2017-18 Nimmattoori 2(4) Hyderabad 16 620/Hyd/2022 2018-19 Pan:Acspn1664K 594/Hyd/2022 Manjusha Nimmatoori 17 Acit, Central Circle 2018-19 Hyderabad 2(4) Hyderabad Pan:Acspn1666M िनधा""रती "ारा/Assessee By: Shri P. Murali Mohan Rao, Ca राज" व "ारा/Revenue By:: Shri Shakeer Ahmed, Dr सुनवाई की तारीख/Date Of Hearing: 13/06/2024 घोषणा की तारीख/Pronouncement: 14/08/2024

For Appellant: Shri P. Murali Mohan Rao, CAFor Respondent: : Shri Shakeer Ahmed, DR
Section 132Section 153ASection 56(2)(vii)Section 56(2)(x)Section 57

Addition in respect of increase in capital account as per balance sheet. iv) Unaccounted sale proceeds received from JVJ Structures (P) Ltd (Joint Development Agreement). v) Long-Term Capital Gain (sold to JVG Structures (P) Ltd – Dev Agreement 5437/2017 (agriculture land). Page ... erred in not appreciating the fact that the agreement of sale dated 14.09.2016 is cancelled by way of subsequent joint development agreement cum GPA Page 19 of 133 ITA Nos 591 619 700 Ramesh Babu and Others between the appellants, M/s. Aishwarya Infra Developers (P) Ltd and M/s. JVG Structures