ACIT 2(1)(1), AGRA vs. MADHUKAR KAPUR, AGRA
The appeal stand partly allowed for statistical purposes
ITA 429/AGR/2015[2011-12]Status: DisposedITAT Agra23 Apr 2025AY 2011-12
Bench: Hon’Ble Shri Satbeer Singh Godara, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am आयकरअपील सं. / Ita No. 429/Agr/2015 (िनधा"रण वष" / Assessment Year: 2011-12 ) Acit- 2(1)(1) बनाम/ Shri Madhukar Kapoor Agra. 64, Surya Nagar, Agra. Vs. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Acnpk-8849-G (अपीलाथ"/Appellant) : (""थ" / Respondent) अपीलाथ"कीओरसे/ Appellant By : Dr. Arun Kumar Yadav – Ld. Cit-Dr ""थ"कीओरसे/Respondent By : Sh. Anurag Sinha, Adv. – Ld. Ar सुनवाईकीतारीख/Date Of Hearing : 18-02-2025 घोषणाकीतारीख /Date Of Pronouncement : 23-04-2025 आदेश / O R D E R Manoj Kumar Aggarwal () 1. Aforesaid Appeal By Revenue For Assessment Year (Ay) 2011-12 Arises Out Of An Order Passed By Learned Commissioner Of Income Tax (Appeals)-Ii, Agra [Cit(A)] On 26-03-2015 In The Matter Of An Assessment Framed By Ld. Assessing Officer [Ao] U/S. 143(3) Of The Act On 28-02- 2014. The Sole Grievance Of The Revenue Is Qua Grant Of Deduction U/S 54 / 54F. Having Heard Rival Submissions & Upon Perusal Of Case Records, The Appeal Is Adjudicated As Under. 2. In The Assessment Order, Ld. Ao Assessed Capital Gains On Sale Of Certain House Property For Rs.454.98 Lacs Which Was Not Shown By The Assessee In The Return Of Income. The Assessee Sold His 2/3Rd Share Of Land Situated At 5/161, Saunth Ki Mandi, Agra To M/S Mahim Patran Pvt. Ltd. (Mppl) In Which The Assessee Acted As A Director. The Total
For Appellant: Dr. Arun Kumar Yadav – Ld. CIT-DRFor Respondent: Sh. Anurag Sinha, Adv. – Ld. AR
Section 143(3)Section 2(47)(v)Section 53ASection 54Section 54F
terms of the provision of Sec.53A of Transfer of Property Act, held that the sale of property was completed during this year and the resultant gains would be assessable to capital gains. The assessee explained that the said property was given to MMPL as a tenant since a long time and it continued to be tenant even after the execution
