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“Section 46(1)”

Section References (mined)Section 46Section 46(1)5 judgments

ABC PAPER PRODUCTS,AGRA vs. INCOME TAX OFFICER 1(1)(1) AGRA, AGRA

In the result, the appeal of the assessee is dismissed

ITA 146/AGR/2025[2018-19]Status: DisposedITAT Agra24 Jun 2025AY 2018-19
Section 10(37)Section 143(3)Section 250Section 250(4)Section 250(6)

nSection 96 is not available when a land is purchased through private negotiations\nby a person other than a specified person under Section 46(1).\nTherefore, in cases other than those covered by Section 46 of the 2013 Land\nAcquisition Act, the levy of income-tax is barred by Section

ASSISTANT COMMISSIONER OF INCOME TAX NCC3(1) CHENNAI, NUNGAMBAKKAM vs. SHRI VENKATESH MEGHRAJ KATHARE , ALWARPET

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

ITA 974/CHNY/2024[2014-15]Status: DisposedITAT Chennai20 Sept 2024AY 2014-15

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwalआयकर अपील सं./Ita No.:974/Chny/2024 िनधा"रण वष"/Assessment Year:2014-15 The Assistant Commissioner Shri Venkatesh Meghraj Kathare, Of Income Tax, Vs. New No.205, Old No.128, Non-Corporate Circle 3(1), St. Mary Road, Chennai. Chennai – 600 018. Pan: Aadpk 5251E (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Ms. R. Anita, Addl.Cit ""यथ" क" ओर से/Respondent By : Shri G. Seetharaman, C.A. सुनवाई क" तारीख/Date Of Hearing : 18.09.2024 घोषणा क" तारीख/Date Of Pronouncement : 20.09.2024 आदेश /O R D E R Per Mahavir Singh: This Appeal By The Revenue Is Arising Out Of The Order Of The Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre In Order No.Itba/Nfac/S/250/2023-24/1061041943(1) Dated 16.02.2024. The Assessment Was Framed By The Assistant Commissioner Of Income-Tax, Non-Corporate Circle 3, Chennai For The Assessment Year 2014-15 U/S. 143(3) Of The Income Tax Act, 1961 (Hereinafter The ‘Act’) Vide Order Dated 30.12.2016. 2. The First Issue In This Appeal Of Revenue Is Against The Order Of Cit(A) Treating The Sale Of Land At Tiruvottiyur High Road As Long Term Capital Gain As Against Assessed By Ao As Short Term Capital Gain. For This, Revenue Has Raised The Following Grounds:- 1) The Cit(A) Has Erred On The Facts Of The Case In Treating The Capital Gains On Sale Of Land At Tiruvottiyur High Road As Long Term Capital Gain Instead Of Short Term Capital Gain Without Appreciating That :

For Appellant: Ms. R. Anita, Addl.CITFor Respondent: Shri G. Seetharaman, C.A
Section 143(3)Section 2Section 2(47)Section 46(2)

company and on its receipt, the appellant has also paid tax u/s 46(2) of the Act. As per the provisions of section 46(1), where the assets of a company are distributed to its shareholders on its liquidation, such distribution shall not be regarded as a transfer ... land at Seevaram which is not be a transfer by the company for the purposes of section 45 as per the provisions of section 46(1) of the Act. Therefore, I am of the considered opinion that the provisions of section 50C of the Act are not applicable

INCOME TAX OFFICER WARD-1 , HOSHIAPUR vs. SHRI HARPINDER SINGH GILL , HOSHIARPUR

In the result, the appeal of the Revenue is dismissed

ITA 163/ASR/2023[2017-18]Status: DisposedITAT Amritsar27 Jul 2023AY 2017-18

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

For Appellant: None (Written submission)For Respondent: Sh. S. M. Surendranath, Sr. DR
Section 96

Section 96 is not available when a land is purchased through private negotiations by a person other than a specified person under Section 46(1). 5.8 Therefore, in case other than those covered by Section 46 of the 2013 Land Acquisition Act, the levy of income-tax is barred ... Section 96 is not available when a land is purchased through private negotiations by a person other than a specified person under Section 46(1). 5.8 Therefore, in cases other than those covered by Section 46 of the 2013 Land Acquisition Act, the levy of income-tax is barred

VODAFONE IDEA LTD (ERSTWHILE ADITYA BIRLA TELECOM LTD),MUMBAI vs. PCIT-CIRCLE 5, MUMBAI

ITA 662/MUM/2022[2017-18]Status: DisposedITAT Mumbai01 Dec 2022AY 2017-18

Bench: Shri S. Rifaur Rahman, Hon'Ble & Ms Kavitha Rajagopal, Hon'Blevodafone Idea Limited V. Pcit – Circle 5 {Erstwhile Known As Aditya Birla Telecom Limited} Room No. 515, 5Thfloor Birla Centurion, 10Th Floor Aayakar Bhavan, M.K. Road Plot No. 794, B Wing Mumbai - 400020 Pandurang Budhkar Marg Worli, Mumbai – 400030 Pan: Aaacb2100P (Appellant) (Respondent) Assessee Represented By Shri J. D. Mistry : Shri Madhur Aggarwal & Shri Ninad Patade Department Represented By : Shri Achal Sharma

Section 143(3)Section 263

capital gains as contemplated by section 128 of the 1922 Act 5.1.3. The above principle has now been enshrined in section 46(1) of the Act, which provides that distribution of its assets by a company to its shareholders upon liquidation shall not be regarded as transfer by the company ... have transferred any asset on account of distribution to its shareholders at the time of liquidation 5.1.5 The aforesaid principle enshrined in section 46(1) of the Act shall also be applicable to cases involving distribution of its assets by a company to its shareholders pursuant to capital reduction

DCIT 27(1) , MUMBAI vs. M/S. GANGA DEVELOPERS, MUMBAI

ITA 2328/MUM/2021[2017-18]Status: DisposedITAT Mumbai12 Oct 2022AY 2017-18

Bench: Shri Prashant Maharishi, Am & Shripavan Kumar Gadale, Jm Dcit 27(1) R No.406, 4Th Floor, Tower M/S Ganga Developers Plot No. 219, Alal Asia, No.6, 11Th Road, Chembur, Vashi Railway Stn Complex, Vs. Vashi, Navi Mumbai Mumbai-400 071 Mumbai-400 703 (Respondent) (Appellant) Pan No. Aaafg 8230 C Assessee By : Shri J.P. Bairagra, Ar Revenue By : Shri Jasbir Chouhan, Dr Date Of Hearing: 13.07.2022 Date Of Pronouncement : 12.10.2022

For Appellant: Shri J.P. Bairagra, ARFor Respondent: Shri Jasbir Chouhan, DR
Section 10(37)Section 11Section 143(3)Section 96

section 96 is not available when a land is purchased through private negotiations by a person other than a specified person under section 46(1). 34. Therefore, in cases other than those covered by section 46 of the 2013 Land Acquisition Act, the levy of Income-tax is barred