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2 results for “capital gains”+ Section 260Aclear

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Key Topics

Section 80I5Section 683

BHARATH HI-TECH BUILDERS PVT. LTD.,BANGALORE vs. ACIT, CIRCLE-1(1)(2), BANGALORE, BANGALORE

In the result, appeal of the assessee is allowed

ITA 1035/BANG/2023[2017-18]Status: DisposedITAT Bangalore04 Apr 2024AY 2017-18
For Appellant: \nShri Inder Paul Bansal &
Section 68

260A of the Act. Further\nafter set aside, the appeal filed by the revenue the appeal has\nbeen closed by Hon'ble Delhi High Court as per order dated\n03-11-2023. Therefore, the decision relied upon by Ld. CIT(A)\nfor upholding the addition does not exists and is not\napplicable.\nb) CIT Vs Empire Builtech (P.) Ltd Delhi

M/S. SILICON ESTATES,BENGALURU vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(4), BANGALORE

In the result, the appeal fails and is hereby dismissed

ITA 25/BANG/2021[2013-14]Status: DisposedITAT Bangalore04 Dec 2023AY 2013-14

Shri Chandra Poojari & Ms. Madhumita Royassessment Year : 2013-14 M/S. Silicon Estates, The Deputy # 14, 6Th Floor, Commissioner Of Geneva House, Income Tax, Cunningham Road, Central Circle Bengaluru – 560 001. 1(4), Vs. Pan: Abefs6150N Bengaluru. Appellant Respondent Assessee By : Shri Tata Krishna, Advocate Revenue By : Shri D.K. Mishra, Cit Dr Date Of Hearing : 11-09-2023 Date Of Pronouncement : 04-12-2023 Order Per Madhumita Roythe Instant Appeal Filed By The Assessee Is Directed Against The Order Dated 24.11.2020 Passed By The Ld.Cit(A)-11, Bangalore Arising Out Of The Order Dated 30.12.2015 Passed By The Ld.Dcit, Central Circle – 1(4), Bangalore U/S. 143(3) Of The Income Tax Act, 1961 (Hereinafter Referred To As “The Act”) For A.Y. 2013-14 Whereby & Whereunder The Rejection Of The Claim U/S. 80Ib(10) Of Rs.4,03,40,492/- For A.Y. 2013-14 Has Been Confirmed.

Bench:
For Appellant: Shri Tata Krishna, AdvocateFor Respondent: Shri D.K. Mishra, CIT DR
Section 115JSection 142(1)Section 143(1)Section 143(2)Section 143(3)Section 80I

capital and the other partners have brought in money for construction of the residential complex thereon. According to the Assessing Officer, the firm has been formed and used only as a colourable device to show the profits from the sale of land of the said Shri Chandra Singh to the developers, Shri H.J. Siwani and Shri M.J. Siwani as business