SHRI KIRANKUMAR RASIKLAL SANGHVI,DEESA vs. THE PR.CIT-4,, AHMEDABAD

The appeal of the assessee is allowed

Bench: Mrs. Annapurna Gupta & Shri T.R. Senthil Kumarिनधा"रण वष"/Assessment Year: 2015-16 Shri Kirankumar Rasiklal Sanghvi, The Principal Commissioner Of 1, Paras Society, Neminathnagar Income-Tax-4, Vs. Road, Deesa, Gujarat-385535 Ahmedabad Pan : Afops 0131 D अपीलाथ" अपीलाथ"/ (Appellant) अपीलाथ" अपीलाथ" "" "" यथ" "" "" यथ" यथ"/ (Respondent) यथ" Assessee By : Shri Manish J. Shah & Shri Rushin Patel, Ars Revenue By : Shri Durga Dutt, Cit-Dr सुनवाई क" तारीख/Date Of Hearing : 12.09.2024 घोषणा क" तारीख /Date Of Pronouncement: 24.09.2024 आदेश आदेश/O R D E R आदेश आदेश Per Annapurna Gupta: This Appeal Filed By The Assessee Is Directed Against The Order Passed By The Learned Principal Commissioner Of Income-Tax-4, Ahmedabad [Herein- After Referred To As “Pcit”] Dated 03.03.2020, In Exercise Of His Revisionary Powers Under Section 263 Of The Income-Tax Act, 1961 [Hereinafter Referred To As “The Act”], For The Assessment Year (Ay) 2015-16. 2. The Registry Has Noted The Present Appeal To Be Barred By Limitation By 1355 Days. The Ld. Counsel For The Assessee Explained That There Was, In Fact, No Delay In Filing The Appeal Before The Tribunal For The Reason That The Assessee Had Inadvertently Filed The Appeal Against The Order Of The Ld. Pcit Before The Surat Bench Of The Itat Which, When The Appeal Came Up For Hearing Before It, Passed A Judicial Order Dated 21.11.2023 Dismissing The Appeal As Withdrawn, Noting The Fact That The Correct Jurisdiction Lay With The 2 Shri Kirankumar Rasiklal Sanghvi Vs. Pcit Ay : 2015-16

House Property”. He drew our attention to section 54F(1) of the Act in this regard as under:- “54F. (1) Subject to the provisions of sub-section (4

CHINMAY GAURANGBHAI SHAH,AHMEDABAD vs. ACIT (INTER.TAXA)-1, AHMEDABAD

In the result, the appeal of the assessee is treated as partly allowed

property. The appellant has relied upon decision of Hon’ble High court referred in his submission which relates to first restriction provided in section 54F of the Act whereas case of appellant falls within second restriction, as discussed herein above. 5.6 In the present case, while passing the assessment order, the AO has observed that appellant has purchased two housing

DCIT CIRCLE-3(3), AHMEDABAD vs. SHRI ALPESHKUMAR C.PATEL, AHMEDABAD

In the result, the appeal of the assessee is partly allowed

Bench: Shri Waseem Ahmed & Shri T.R. Senthil Kumarआयकर अपील सं./Ita No. 1908/Ahd/2018 िनधा"रण वष"/Asstt. Year: 2011-2012 Alpeshkumar C. Patel, A.C.I.T., 503, Milestone Building, Vs. Circle-3(3), Drive In Road, Ahmedabad. Thaltej, Ahmedabad-380052. Pan: Aeapp9489G

section 54F of the Act by observing that the commercial tax department has cancelled the TIN of the supplier of the different building material, the appellant owns more than one house property ITA nos.1908& 1991/AHD/2018 Asstt. Year 2011-12 11 on the date of sale and the capital gain arise from the different properties as claimed by the appellant

SOBHA DIVYANG JOSHI,AHMEDABAD vs. THE INCOME TAX OFFICER, WARD-5(2)(3), AHMEDABAD

In the result, the appeal of the assessee is allowed

Bench: Shri Rajpal Yadavassessment Year : 2010-11 Sobha Divyang Joshi, Vs. Income Tax Officer, 55, Prathna Vihar Society, Ward 5(2)(3), B/H Manekbaug, Ambawadi, Ahmedabad Ahmedabad – 380 006 [Pan : Agxpj 9869 R] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri M K Patel, Ar Revenue By : Shri Deelip Kumar, Sr Dr सुनवाई क" तार"ख/Date Of Hearing : 29/01/2020 घोषणा क" तार"ख /Date Of Pronouncement: 03/02/2020

4) in the event of the assessee not investing the capital gains either in purchasing the residential house or in constructing a residential house within the period stipulated in Section 54F(1), if the assessee wants the benefit of Section 54F, then he should deposit the said capital gains in an account which is duly notified by the Central Government

DIPAL SURESHBHAI PATEL,AHMEDABAD vs. ITO, WARD-3(3)(1),, AHMEDABAD

In the result, the appeal of the assessee is allowed

Bench: Shri Waseem Ahmed& Ms. Madhumita Roy

4) in the event of the assessee not investing the capital gains either in purchasing the residential house or in constructing a residential hour within the period stipulated in Section 54F(1), if the assessee wants the benefit of Section 54F, then he should deposit the said capital gains in an account which is duly notified by the Central Government

ANIRUDDH RINKI GANDHI,BARODA vs. DCIT (INTL. TAXN), BARODA

In the result, the appeal of the assessee is allowed

Bench: S/Shri Pramod M. Jagtap & T.R. Senthil Kumarassessment Year :2015-16 Aniruddhrinki Gandhi Dcit (Intl.Taxn.) 14, Vaikunh Apartment Vs Baroda. Laxminarayan Co-Op. Society Gotri Road, Baroda. Pan : Bbnpg 1052 P अपीलाथ"/ (Appellant) "" यथ"/(Respondent) Assessee By : Shri Manish J. Shah, Advocate Revenue By : Shri V.K.Singh, Sr.Dr सुनवाई क" तार"ख/Date Of Hearing : 23/02/2022 घोषणा क" तार"ख /Date Of Pronouncement: 28/02/2022 आदेश/O R D E R Per T.R. Senthil Kumar: This Appeal Is Filed By The Assessee Against Order Dated 21.01.2019 Passed By Ld.Commissioner Of Income-Tax (Appeals)-13, Ahmedabad [For Short “Ld.Cit(A)] In Appeal No.Cit(A)- 13/Intl.Taxn./Ahd/75/2017-18 Relating To The Assessment Year 2015-16. 2. Assessee’S Grounds Of Appeal Are As Follows:

4) is attracted only to a case where the sale consideration is NOT utilized either for purchase or for construction of a residential house. It has no application to a case where the assessee invests the sale consideration derived from the transfer either in purchasing the property or constructing the residential house within the period stipulated in Section 54F

MR. JOBANJI THAKOR,AHMEDABAD vs. THE ITO. WARD-3(2)(2), AHMEDABAD

Appeal is partly allowed

Bench: SHRI T.R. SENTHIL KUMAR, JUDICIAL MEMBER\nAND\nSHRI MAKARAND V. MAHADEOKAR, ACCOUNTANT MEMBER\nआयकर अपील सं/ITA No.264/Ahd/2019\nनिर्धारण वर्ष / Assessment Year : 2015-16\nMr. Jobanji Thakor\nThe ITO\nF-40, Abugiri Society\nबनाम / Ward-3(2)(2)\nTal. Daskroi, Jagatpur\nv/s.\nAhmedabad\nAhmedabad - 382 470\nस्थायी लेखा सं./PAN: AKNPT 2930 M\n(अपीलार्थी/ Appellant)\n(प्रत्यर्थी / Respondent)\nAssessee by:\nShri Mehul K. Patel, AR\nRevenue by :\nShri A.P. Singh, CIT-DR\nसुनवाई की तारीख/Date of

4. In response to the show-cause notice dated 15.12.2017, the Authorized\nRepresentative (AR) of the assessee attended the office on 20.12.2017 and\nsubmitted a written reply vide letter dated 20.12.2017, along with various\nsupporting documents. The assessee, in his response, primarily sought to\njustify the deductions claimed under Sections 54B and 54F of the Act, and\nprovided explanations regarding

SURESHBHAI PRABHUDAS PATEL,VADODARA vs. ITO - WARD 1(2)(5), VADODARA

In the result the appeal filed by the assessee is allowed

Bench: Shri Waseem Ahmedआयकर अपील सं./Ita Nos. 255-256/Ahd/2021 िनधा"रण वष"/Asstt. Years: 2011-2012 & 2012-13 Sureshbhai Prabhudas Patel, D.C.I.T. Opp Parbadi Padra Road, Vs. Central Circle-2(1) Samiyala Village, Ahmedabad. Vadodara-390002. Pan: Atypp6249H

property under the capital gain account scheme with the bank as per the provisions of section 54F(4) of the Act. But the assessee has made the investment in the house

SURESHBHAI PRABHUDAS PATEL,VADODARA vs. ITO - WARD 1(2)(5), VADODARA

In the result the appeal filed by the assessee is allowed

Bench: Shri Waseem Ahmedआयकर अपील सं./Ita Nos. 255-256/Ahd/2021 िनधा"रण वष"/Asstt. Years: 2011-2012 & 2012-13 Sureshbhai Prabhudas Patel, D.C.I.T. Opp Parbadi Padra Road, Vs. Central Circle-2(1) Samiyala Village, Ahmedabad. Vadodara-390002. Pan: Atypp6249H

property under the capital gain account scheme with the bank as per the provisions of section 54F(4) of the Act. But the assessee has made the investment in the house

SHRI VIKAS NARAYAN BADDI,AHMEDABAD vs. THE ACIT,CENTRAL CIRCLE-1(3),, AHMEDABAD

In the result, appeal of the assessee is allowed

Bench: Smt.Annapurna Gupta & Smt.Suchitra Kambleassessment Year :2012-13

property by then. 10. To adjudicate the issue we consider it necessary to reproduce provisions of section 54F of the Act as under: 54F. (1) Subject to the provisions of sub-section (4), where, in the case of an assessee being an individual or a Hindu undivided family, the capital gain arises from the transfer of any long-term capital

SHRI NATWARBHAI J. PATEL,VADODARA vs. THE INCOME TAX OFFICER, WARD-1(2)(4), VADODARA

In the result, both the appeals are partly allowed for statistical purposes in the terms indicated above

4) in the event of the assessee not investing the capital gains either in purchasing the residential house or in constructing a residential house within the period stipulated in section 54F(1), if the assessee wants the benefit of Section 54F, then he should deposit the said capital gains in an account which is duly notified by the Central Government

THE ITO, WARD-1(2)(4), BARODA vs. SHRI NATWARBHAI J. PATEL, VADODARA

In the result, both the appeals are partly allowed for statistical purposes in the terms indicated above

4) in the event of the assessee not investing the capital gains either in purchasing the residential house or in constructing a residential house within the period stipulated in section 54F(1), if the assessee wants the benefit of Section 54F, then he should deposit the said capital gains in an account which is duly notified by the Central Government

SHRI DHANRAJ BAXIRAM CHOPRA,,AHMEDABAD vs. ITO, WARD-5(3)(4),, AHMEDABAD

In the result, the appeal of the assessee is partly allowed

4 of 6 Asstt. Year 2014-15 investment made in a residential house. The question arises whether ‘a residential house’ reads as one residential house. To resolve the controversy, we note that different courts have taken different views. Some of them have interpreted the investment in ‘a residential house’ as limited to one house only whereas some of the courts

SHRI VINODBHAI J. PATEL,VADODARA vs. THE INCOME TAX OFFICER, WARD-1(2)(5), VADODARA

In the result, both the appeals are partly allowed for statistical purposes in the terms indicated above

4) in the event of the assessee not investing the capital gains either in purchasing the residential house or in constructing a residential house within the period stipulated in section 54F(1), if the assessee wants the benefit of Section 54F, then he should deposit the said capital gains in an account which is duly notified by the Central Government

THE ITO, WARD-1(2)(5), VADODARA vs. SHRI VINODBHAI J. PATEL, VADODARA

In the result, both the appeals are partly allowed for statistical purposes in the terms indicated above

4) in the event of the assessee not investing the capital gains either in purchasing the residential house or in constructing a residential house within the period stipulated in section 54F(1), if the assessee wants the benefit of Section 54F, then he should deposit the said capital gains in an account which is duly notified by the Central Government

SHRI NANDKISHORE RAMANLAL PARIKH HUF,,AHMEDABAD vs. THE INCOME TAX OFFICER, WARD-5(2)(3),, AHMEDABAD

In the result, appeal of the assessee is allowed

Bench: Shri Rajpal Yadavआयकर अपील सं./ Ita No. 490/Ahd/2017 "नधा"रण वष"/Assessment Year: 2013-14 Nandkishore Ramanlal Parikh- Ito, Ward-5(2)(3) Huf Vs Ahmedabad. Chitrakut F.P.390 Bh. Shakuntal Complex C.N.Vidyalay Road Ambawadi, Ellisbridge Amedabad 380 006. Pan : Aaghn 0923 H अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Arti N. Shah, Ar Revenue By : Lalit P. Jain, Sr.Dr

4) in the event of the assessee not investing the capital gains either in purchasing the residential house or in constructing a residential house within the period stipulated in Section 54F(1), if the assessee wants the benefit of Section 54F, then he should deposit the said capital gains in an account which is duly notified by the Central Government

SHRI VIJAYBHAI HATHISING SHAH,AHMEDABAD vs. THE PR. CIT-1 , AHMEDABAD

In the result, appeal filed by the Assessee is dismissed

54F of the Act, as the assessee had effectively only one residential house before purchase of the new property. The assessee sold Ambli Gam property on 05.04.2020 as an open plot of land with no structure existing thereon. Therefore the property cannot called as a house or residential property. Thus the assessee pleaded that it had submitted all required details

VINIT BIPINCHANDRA SHAH,AHMEDABAD vs. THE ITO, WARD-1(1)(3) (PREVIOUSLY WARD-5(2)(4)), AHMEDABAD

In the result, appeal of the assessee is partly allowed

Bench: Shri T.R. Senthil Kumar & Shri Narendra Prasad Sinhaassessment Year: 2015-16

4 pertain to computation of LTCG derived by the assessee. On the issue of claim of deduction under Section 54F of the Act disallowed by the Assessing Officer, the Ld. AR submitted that the assessee did not own more than one residential house property

SHRI JIGNESH JAYSUKHLAL GHIYA,VADODARA vs. THE DCIT CIRLCE-4(2), VADODARA

In the result, the appeal filed by the Assessee is allowed

Bench: Shri T.R. Senthil Kumar (Judicial Member), Shri Narendra Prasad Sinha (Accountant Member)

section 54F as the investment in residential house would not only include the cost of purchase of the house but also the cost incurred in making the house habitable because an inhabitable premises, cannot be equated with a residential house. If a person cannot live in the premises, then such premises cannot be considered as a residential house. In case