Section 2(24)(xv) — 4 judgments | BharatTax

DIPTI GARG,TONK vs. ITO WD, TONK

ITA 633/JPR/2023[2014-15]Status: DisposedITAT Jaipur30 Apr 2024AY 2014-15

Section 143(3)Section 148Section 56(2)(vii)Section 56(2)(viib)

nimmovable property being also ITA 300 to 302/JP/2019_ Sh. Yogesh Maheshwari Vs.\nDCIT & 2 Ors. 11 property read with definition of income in Section 2 (24) (xv) of the\nAct. Therefore, in our view, Section 56 (2) (vii) (b) of the Act is to be read with\nexplanation (d) wherein ... from municipality) to support this claim.", "result": "Allowed", "sections": ["Section 147", "Section 148", "Section 56(2)(viib)", "Section 2(14)", "Section 194-IA", "Section 2(24)(xv)"], "issues": "Whether the agricultural land sold by the assessee qualifies as a capital asset for the purpose of invoking Section 56(2)(viib

PHOOL CHAND GUPTA(HUF),1/90 VIDHYADHAR NAGAR vs. ITO, WD-4(2), JAIPUR

ITA 393/JPR/2023[2014-15]Status: DisposedITAT Jaipur16 Jan 2024AY 2014-15

For Appellant: Shri P.C. Jain (C.A.)For Respondent: Smt. Monisha Choudhary (Addl.CIT)

Section 142(1)Section 143(2)Section 147Section 148Section 50CSection 56(2)(vii)

limits and The provisions of section\n56(2)(vii)(b) is not applicable. Immovable property being also property r/w\ndefinition of income in section 2(24)(xv) so section 56(2)(vii)(b) is to be r/w\nexplanation (d) and the mention of immovable in clause 56(2

THE DCIT, CIRCLE-2(1), THRISSUR vs. SRI.K.P. JOHNY, THRISSUR

In the result, both the assessee’s and the Revenue’s appeals are partly allowed and partly allowed for statistical purposes

ITA 254/COCH/2019[2014-15]Status: DisposedITAT Cochin09 Oct 2023AY 2014-15

Bench: Shri Sanjay Arora & Shri Manomohan Dask.P. Johny Asst. Cit, Manappuram House Circle – 2(1) Hospital Road, Chalakkudy Aayakar Bhavan Vs. Thrissur 680307 Sakthan Thampuran Nagar [Pan:Acgpj4958G] Thrissur 680001 (Appellant) (Respondent) Asst. Cit, K.P. Johny Circle – 2(1) Manappuram House Aayakar Bhavan Hospital Road, Chalakkudy Vs. Sakthan Thampuran Nagar Thrissur 680307 Thrissur 680001 [Pan: Acgpj4958G] (Appellant) (Respondent)

For Appellant: Shri T.M. Sreedharan, Sr. Advocate (with Smt. Divya Ravindran, Adv. with him)For Respondent: Smt. J.M. Jamuna Devi, Sr. DR

Section 131(1)Section 133ASection 147Section 148(1)Section 69

allotment and purchase of shares is itself receipt of income to the extent of the excess value thereof over their acquisition cost, under section 2(24)(xv) of the Act. (e) There is no ‘short payment’ of sale consideration to the assessee, claimed at Rs.287.50 lakhs. The same is even

SRI.K.P. JOHNY,THRISSUR vs. THE DCIT, CIRCLE-2(1), THRISSUR