“joint development agreement”

Smt.Vani Shree, Bangalore vs. Income Tax Officer Ward-6(2)(4), Bangalore

In the result, the appeal filed by the assessee stands dismissed

Bench: Smt. Beena Pillai & Shri. Laxmi Prasad Sahuassessment Year : 2015-16 Smt. Vani Shree, No. 49, 3Rd Cross, The Income-Tax Marappa Thota, Officer, J.C. Nagar, Ward 6 (2)(4), Bangalore – 560 006. Bangalore. Vs. Pan: Gayps9756K Appellant Respondent : Shri S.V. Ravi Shankar, Assessee By Advocate : Shri Ramesh B.R., Addl. Cit Revenue By (Dr) Date Of Hearing : 09-06-2022 Date Of Pronouncement : 28-07-2022 Order Per Beena Pillaipresent Appeal Is Filed By The Assessee Against Order Dated 05.12.2018 Passed By The Ld.Cit(A)-6, Bangalore For A.Y. 2015-16 On Following Grounds Of Appeal: “1. The Order Of The Learned Commissioner Of Income-Tax (Appeals), Bengaluru, Passed Under Section 250 Of The Act In So Far As It Is Against The Appellant Is Opposed To Law, Weight Of Evidence, Natural Justice, Probabilities, Facts & Circumstances Of The Appellant'S Case. 2. The Appellant Denies Herself To Be Liable To Be Assessed To Total Income Of Rs.2,16,39,499/- On The Facts & Circumstances Of The Case.

undivided share in the land. 2.2 The assessee and the other owners of the property entered into a Joint Development Agreement on 05/02/2011 with M/s Vishnupriya group of builders and developers for development of the land for construction of a residential apartment complex. As per the terms of the agreement ... Hence, it is held that, the provisions of section 53A of the Transfer of Property Act, are not applicable to the impugned Joint Development Agreement. Based on the above facts, the conditions laid down in section 2(47)(v) of the Act, cannot be invoked, so as to bring

Mr.Rahil Mahesh Kumar Nizamuddin, Bangalore vs. Deputy Commissioner of Income Tax (International Taxation) Circle-1(2), Bangalore

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

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2014-15

Learned CIT(A) erred in upholding the assessment of the Long-Term Capital Gains arising out of the Joint Development Agreement dated 31.1.2014 for the A.Y.2014-15 even though the possession of the property bearing No.123, Infantry Road, Bengaluru was delivered on 16.6.2014 and with complete disregard to fact that ... Learned CIT(A) erred in upholding the assessment of the Long-Term Capital Gains arising out of the Joint Development Agreement dated 31.1.2014 in respect of the property bearing No.123, Infantry Road, Bengaluru for the A.Y.2014-15 even when the transfer thereof took place on 16.6.2014 when possession whereof is delivered

DCIT, Bangalore vs. M/S Ind Sing Developers (P) Ltd., Bangalore

Bench: Shri Chandra Poojari & Smt. Beena Pillai

based on the seized documents has arbitrarily added Rs. 23,45,000/- of payments made as undisclosed investment. It was submitted that the Joint Development agreement was not implemented and the same was cancelled and all payments were made through banking channels and were duly recorded. The assessing officer failed

DCIT, Bangalore vs. M/S Ind- Sing Developers (P) Ltd., Bangalore

Bench: Shri Chandra Poojari & Smt. Beena Pillai

based on the seized documents has arbitrarily added Rs. 23,45,000/- of payments made as undisclosed investment. It was submitted that the Joint Development agreement was not implemented and the same was cancelled and all payments were made through banking channels and were duly recorded. The assessing officer failed

DCIT, Bangalore vs. M/S Ind- Sing Developers (P) Ltd., Bangalore

Bench: Shri Chandra Poojari & Smt. Beena Pillai

based on the seized documents has arbitrarily added Rs. 23,45,000/- of payments made as undisclosed investment. It was submitted that the Joint Development agreement was not implemented and the same was cancelled and all payments were made through banking channels and were duly recorded. The assessing officer failed

M/S Ind Sing Developers Private Limited, Bangalore vs. DCIT, Bangalore

Bench: Shri Chandra Poojari & Smt. Beena Pillai

based on the seized documents has arbitrarily added Rs. 23,45,000/- of payments made as undisclosed investment. It was submitted that the Joint Development agreement was not implemented and the same was cancelled and all payments were made through banking channels and were duly recorded. The assessing officer failed

M/S Ind Sing Developers Private Limited, Bangalore vs. DCIT, Bangalore

Bench: Shri Chandra Poojari & Smt. Beena Pillai

based on the seized documents has arbitrarily added Rs. 23,45,000/- of payments made as undisclosed investment. It was submitted that the Joint Development agreement was not implemented and the same was cancelled and all payments were made through banking channels and were duly recorded. The assessing officer failed

Deputy Commissioner of Income Tax, Central Circle-2(1), Bengaluru vs. M/S. Chaitanya Properties Private Limited, Bengaluru

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

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2016-17

course of search documents belonging to the assessee were found. The documents seized and marked as Annexure 14/ST/132 comprised Joint Development Agreement dated 5.2.2005 between the assessee and PEPL and related documents. The related document marked as 18/ST/132 consisted of loan sanction details of the assessee. After duly recording

Smt Munilakshamamma, Bangalore vs. Commissioner of Income Tax (A)-7, Bangalore

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

Bench: Shri George George K, Jm & Ms.Padmavathy S, Am

year is 2012-2013. 2. The solitary issue argued by the learned AR is whether the assessee is liable for capital gains for Joint Development Agreement (JDA) entered between the assessee and M/s.Ramky Infrastructure Limited. Several grounds are raised. The assessee has also raised two additional grounds vide application dated ... basis of clause-1 of the JDA, in my view was not proper. The possession in the present is traced to the joint development agreement which is in the nature of permissive possession and not possession in part performance of agreement for sale. In the present case, there

Desirazu Sundara Siva Rao, Bengaluru vs. Assistant Commissioner of Income Tax, Circle-6(3)(1), Bengaluru

In the result, appeals by the assessees are treated as partly allowed for statistical purposes and Stay Petition is dismissed

Bench: Shri N. V. Vasudevan & Ms. S.Padmavathi

bearing municipal No.19, 9th Main Roa, Rajmahal Vilas, Sadashivanagar, Bengaluru (hereinafter referred to as ‘the property’). They entered into a Joint Development Agreement (JDA) with M/s. Vista Spaces Estates LLP. As per the terms of the JDA dated 20.07.20214, the assessees Shri. Desirazu Sundara Siva Rao and Shri. Nagaraj Desirazu ... units to be new asset for the purpose of investment. However other residential units are also accruing to assessee as a result of Joint Development Agreement. In this regard, it is pertinent to mention proviso to subsection (1) of section 54F which reads as, "Provided that nothing contained in this

Nagaraj Desirazu, Bengaluru vs. Assistant Commissioner of Income Tax, Circle-6(3)(1), Bangalore

In the result, appeals by the assessees are treated as partly allowed for statistical purposes and Stay Petition is dismissed

Bench: Shri N. V. Vasudevan & Ms. S.Padmavathi

bearing municipal No.19, 9th Main Roa, Rajmahal Vilas, Sadashivanagar, Bengaluru (hereinafter referred to as ‘the property’). They entered into a Joint Development Agreement (JDA) with M/s. Vista Spaces Estates LLP. As per the terms of the JDA dated 20.07.20214, the assessees Shri. Desirazu Sundara Siva Rao and Shri. Nagaraj Desirazu ... units to be new asset for the purpose of investment. However other residential units are also accruing to assessee as a result of Joint Development Agreement. In this regard, it is pertinent to mention proviso to subsection (1) of section 54F which reads as, "Provided that nothing contained in this

M/S. Century Bangalore City Centre Private Limited, Bangalore vs. The Deputy Commissioner of Income Tax, Central Circle- 1(3), Bangalore

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

Bench: Shri N.V. Vasudevanand Ms. Padmavathy S

Grounds Property with his highness Shri Srikanta Datta Narasimharaja Wadiyar (page 5-32 of the Paper Book-III). On the same date, a joint development agreement was also entered into with him for joint development of 37.5 Acres of Bangalore Palace Grounds Property (page 57 to 87 of the Paper ... Book-III). 5. On 18/04/2008 3 different Joint development agreements were entered into by the assessee with Smt. Kamakshi Devi and others (23 Acres of ITA Nos.352 to 357/Bang/2020 Page 3 of 23 Bangalore Palace Grounds Property) (page 98 to 127 of the Paper Book-III); with Smt. Meenakshi Devi

M/S. Century Bangalore City Centre Private Limited, Bangalore vs. The Deputy Commissioner of Income Tax, Central Circle- 1(3), Bangalore

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

Bench: Shri N.V. Vasudevanand Ms. Padmavathy S

Grounds Property with his highness Shri Srikanta Datta Narasimharaja Wadiyar (page 5-32 of the Paper Book-III). On the same date, a joint development agreement was also entered into with him for joint development of 37.5 Acres of Bangalore Palace Grounds Property (page 57 to 87 of the Paper ... Book-III). 5. On 18/04/2008 3 different Joint development agreements were entered into by the assessee with Smt. Kamakshi Devi and others (23 Acres of ITA Nos.352 to 357/Bang/2020 Page 3 of 23 Bangalore Palace Grounds Property) (page 98 to 127 of the Paper Book-III); with Smt. Meenakshi Devi

M/S. Century Bangalore City Centre Private Limited, Bangalore vs. The Deputy Commissioner of Income Tax, Central Circle- 1(3), Bangalore

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

Bench: Shri N.V. Vasudevanand Ms. Padmavathy S

Grounds Property with his highness Shri Srikanta Datta Narasimharaja Wadiyar (page 5-32 of the Paper Book-III). On the same date, a joint development agreement was also entered into with him for joint development of 37.5 Acres of Bangalore Palace Grounds Property (page 57 to 87 of the Paper ... Book-III). 5. On 18/04/2008 3 different Joint development agreements were entered into by the assessee with Smt. Kamakshi Devi and others (23 Acres of ITA Nos.352 to 357/Bang/2020 Page 3 of 23 Bangalore Palace Grounds Property) (page 98 to 127 of the Paper Book-III); with Smt. Meenakshi Devi

M/S. Century Bangalore City Centre Private Limited, Bangalore vs. The Deputy Commissioner of Income Tax, Central Circle- 1(3), Bangalore

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

Bench: Shri N.V. Vasudevanand Ms. Padmavathy S

Grounds Property with his highness Shri Srikanta Datta Narasimharaja Wadiyar (page 5-32 of the Paper Book-III). On the same date, a joint development agreement was also entered into with him for joint development of 37.5 Acres of Bangalore Palace Grounds Property (page 57 to 87 of the Paper ... Book-III). 5. On 18/04/2008 3 different Joint development agreements were entered into by the assessee with Smt. Kamakshi Devi and others (23 Acres of ITA Nos.352 to 357/Bang/2020 Page 3 of 23 Bangalore Palace Grounds Property) (page 98 to 127 of the Paper Book-III); with Smt. Meenakshi Devi

M/S. Century Bangalore City Centre Private Limited, Bangalore vs. The Deputy Commissioner of Income Tax, Central Circle- 1(3), Bangalore

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

Bench: Shri N.V. Vasudevanand Ms. Padmavathy S

Grounds Property with his highness Shri Srikanta Datta Narasimharaja Wadiyar (page 5-32 of the Paper Book-III). On the same date, a joint development agreement was also entered into with him for joint development of 37.5 Acres of Bangalore Palace Grounds Property (page 57 to 87 of the Paper ... Book-III). 5. On 18/04/2008 3 different Joint development agreements were entered into by the assessee with Smt. Kamakshi Devi and others (23 Acres of ITA Nos.352 to 357/Bang/2020 Page 3 of 23 Bangalore Palace Grounds Property) (page 98 to 127 of the Paper Book-III); with Smt. Meenakshi Devi

M/S. Century Bangalore City Centre Private Limited, Bangalore vs. The Deputy Commissioner of Income Tax, Central Circle- 1(3), Bangalore

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

Bench: Shri N.V. Vasudevanand Ms. Padmavathy S

Grounds Property with his highness Shri Srikanta Datta Narasimharaja Wadiyar (page 5-32 of the Paper Book-III). On the same date, a joint development agreement was also entered into with him for joint development of 37.5 Acres of Bangalore Palace Grounds Property (page 57 to 87 of the Paper ... Book-III). 5. On 18/04/2008 3 different Joint development agreements were entered into by the assessee with Smt. Kamakshi Devi and others (23 Acres of ITA Nos.352 to 357/Bang/2020 Page 3 of 23 Bangalore Palace Grounds Property) (page 98 to 127 of the Paper Book-III); with Smt. Meenakshi Devi

M/S. Reddy Structures (Private) Limited, Bangalore vs. Deputy Commissioner of Income Tax, Circle - 5(1)(1), Bangalore

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

Bench: Shri N.V. Vasudevan, Vice Preseident & Shri Padmavathy S

respect of the said housing project, the assessee had secured the land for purposes of development under the joint development agreements. (b) In terms of the joint development agreement, it was required to deliver certain flats to the landowners and some of the landowners approached the assessee and re- negotiated ... hearing the facts and documents relating to project ‘Mahavir springs’ were presented. Accordingly we notice that the assessee has entered into a joint development agreement [JDA] dated 27.9.2014 [pg. 53 of PB] with the landowners for development of residential flats on the land situated at Sy.No.4/2, ITA Nos.1302 & 1303/Bang/2019