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“Section 55(2)(i)”

Section References (mined)Section 55Section 55(2)(i)5 judgments

FAROOQ ABDULLA MERCHANT,MUMBAI vs. ITO 23 (1)(4), MUMBAI

In the result, Ground No. V raised by the assessee is partly allowed

ITA 7906/MUM/2019[2014-15]Status: DisposedITAT Mumbai02 May 2023AY 2014-15

Bench: Shri S. Rifaur Rahman, Hon'Ble & Ms. Kavitha Rajagopal, Hon'Blefarooq Abdulla Merchant V. Income Tax Officer- Ward – 23(1)(4) Matru Mandir, Tardev Road A-1401, Poseidon Tower Mumbai – 400 007 Versova, Yari Road Above Indian Bank, Versova Andheri (W), Mumbai - 400061 Pan: Ahupm7426K (Appellant) (Respondent) Assessee Represented By : Shri Vimal Punamiya Department Represented By : Smt. Vranda U. Matkarni

Section 143(2)Section 54Section 54(1)

allowed deduction of expenditure incurred by assessee to remove encumbrance to transfer - Held, yes [1991] 58 TAXMAN 106 (BOM) Section 48, read with section 55(2), of the Income-tax Act, 1961 - HIGH COURT OF BOMBAY Capital gains - Computation of - Commissioner of Income-tax V. Assessment year ... expenditure which can be claimed under that section in case a person has exercised option under 28 Farooq Abdulla Merchant Case Laws Citations section 55(2)(i) - Held, no Section 55(2)(i) of the Income-tax Act, 1961 Capital gains - Cost of acquisition Assessment year 1968-69 Whether Tribunal

ACIT, JAMMU vs. SH VIKRAMADITYA SINGH, JAMMU

In the result, all the fours appeals filed by the Revenue are dismissed and the three Cross Objections as well as the ground as per Rule 27 are allowed

ITA 269/ASR/2007[1998-99]Status: DisposedITAT Delhi24 Jan 2022AY 1998-99

Bench: Shri R.K. Panda & Shri Sudhanshu Srivastava

For Appellant: Shri C.S. Aggarwal, SrFor Respondent: Shri S.D. Kapila, Spl
Section 139(9)Section 147Section 148

assessee. Further the A.O. without confronting the assessee on this issue, has made the addition which is not justified. The provisions of Section 55(2) (b)(1) of the I.T. Act, 1961 was brought to the notice of the Ld. CIT(A) and it was submitted that ... assessee prior to 1.4.1981 in Jyoti (Pvt.) Ltd. He submitted that this is because all the assessees have exercised option under section 55(2)(i) of the I. T. Act that the market value of the shares held as on 1.4.1981 may be substituted for the actual cost of acquisition

ACIT, CIR-II, JAMMU vs. SMT. YASHORAJYA LAXMI, JAMMU

In the result, all the fours appeals filed by the Revenue are dismissed and the three Cross Objections as well as the ground as per Rule 27 are allowed

ITA 268/ASR/2007[1998-99]Status: DisposedITAT Delhi24 Jan 2022AY 1998-99

Bench: Shri R.K. Panda & Shri Sudhanshu Srivastava

For Appellant: Shri C.S. Aggarwal, SrFor Respondent: Shri S.D. Kapila, Spl
Section 139(9)Section 147Section 148

assessee. Further the A.O. without confronting the assessee on this issue, has made the addition which is not justified. The provisions of Section 55(2) (b)(1) of the I.T. Act, 1961 was brought to the notice of the Ld. CIT(A) and it was submitted that ... assessee prior to 1.4.1981 in Jyoti (Pvt.) Ltd. He submitted that this is because all the assessees have exercised option under section 55(2)(i) of the I. T. Act that the market value of the shares held as on 1.4.1981 may be substituted for the actual cost of acquisition

ACIT, JAMMU vs. DR KARAN SINGH, JAMMU

In the result, all the fours appeals filed by the Revenue are dismissed and the three Cross Objections as well as the ground as per Rule 27 are allowed

ITA 267/ASR/2007[1998-99\u005cu005cu005cu005cu005cu005cu005cu005c]Status: DisposedITAT Delhi24 Jan 2022

Bench: Shri R.K. Panda & Shri Sudhanshu Srivastava

For Appellant: Shri C.S. Aggarwal, SrFor Respondent: Shri S.D. Kapila, Spl
Section 139(9)Section 147Section 148

assessee. Further the A.O. without confronting the assessee on this issue, has made the addition which is not justified. The provisions of Section 55(2) (b)(1) of the I.T. Act, 1961 was brought to the notice of the Ld. CIT(A) and it was submitted that ... assessee prior to 1.4.1981 in Jyoti (Pvt.) Ltd. He submitted that this is because all the assessees have exercised option under section 55(2)(i) of the I. T. Act that the market value of the shares held as on 1.4.1981 may be substituted for the actual cost of acquisition

ACIT, JAMMU vs. SH M.K. AJAT SHATRU, JAMMU

In the result, all the fours appeals filed by the Revenue are dismissed and the three Cross Objections as well as the ground as per Rule 27 are allowed

ITA 263/ASR/2003[1998-99]Status: DisposedITAT Delhi24 Jan 2022AY 1998-99

Bench: Shri R.K. Panda & Shri Sudhanshu Srivastava

For Appellant: Shri C.S. Aggarwal, SrFor Respondent: Shri S.D. Kapila, Spl
Section 139(9)Section 147Section 148

assessee. Further the A.O. without confronting the assessee on this issue, has made the addition which is not justified. The provisions of Section 55(2) (b)(1) of the I.T. Act, 1961 was brought to the notice of the Ld. CIT(A) and it was submitted that ... assessee prior to 1.4.1981 in Jyoti (Pvt.) Ltd. He submitted that this is because all the assessees have exercised option under section 55(2)(i) of the I. T. Act that the market value of the shares held as on 1.4.1981 may be substituted for the actual cost of acquisition