“Section 49(1)(iii)(a)”

Section References (mined)Section 49Section 49(1)(iii)(a)2 judgments

FEDERATION OF RAJASTHAN TRADE AND INDUSTRY,JAIPUR vs. ITO-EXEMPTION WARD-2, JAIPUR

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

ITA 217/JPR/2024[2014-15]Status: DisposedITAT Jaipur04 Oct 2024AY 2014-15

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

For Appellant: Shri Rahul Pandya (Adv.) &For Respondent: Shri Anoop Singh (Addl.CIT) a

Section 127Section 12ASection 142(1)Section 143(2)Section 143(3)Section 250

cost incurred for purchase/acquisition of tenancy rights and accordingly took cost of acquisition at nil Whether case of assessee fell under section 49(1)(iii)(a) and once capital asset in question became property of assessee as per section 49(1)(iii)(a) and previous owner acquired property prior

AVTAR SINGH DHEERAN,DELHI vs. ITO, WARD- 66(5), NEW DELHI

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

ITA 403/DEL/2018[2014-15]Status: DisposedITAT Delhi10 Jun 2021AY 2014-15

Bench: Shri R.K. Pandaassessment Year: 2014-15 Avtar Singh Dheeran, Vs Ito, C/O Kapil Goel, Advocate, Ward-66(5), G-26/124, Sector-7, New Delhi. Rohini, New Delhi. Pan: Aaipd8887G (Appellant) (Respondent) Assessee By : Shri Kapil Goel, Advocate Revenue By : Shri Rajesh Kumar, Sr. Dr Date Of Hearing : 20.04.2021 Date Of Pronouncement : 10.06.2021 Order

For Appellant: Shri Kapil Goel, AdvocateFor Respondent: Shri Rajesh Kumar, Sr. DR

regards the issue of deduction of Rs 5,50,000/-on account of transfer charges it may be mentioned that as per section 49(1 )(iii)(a) of IT Act the cost of acquisition of asset will be increased by the cost of any improvement of the asset incurred ... expenditure which may have qualitatively improved the assets. Therefore, the claim of the assessee was prima facie not covered under the provisions of section 49(1)(iii)(a) of IT . Act, 1961. As regards the another issue of not allowing the benefit of cost of construction/indexed cost of construction