SHRI K.G SUBBARAMA SETTY ,BANGALORE vs. ACIT 5(2)(1) BANGALORE, C R BUILDING

In the result all the three appeals in ITA Nos

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

50,00,000 Net Capital Gains on sale of villas for FY 20-21 4,92,69,179 As the assessee had declared a capital gains of Rs.4,74,72,475 in the ITR filed for AY 2021-22, therefore the additional capital gains ITA Nos.962 & 963/Bang/2025 K.S. Akhilesh Babu ITA No.964/Bang/2025 K.A. Sujith Chandan ITA No.965/Bang/2025 K.G. Subbarama Setty

K A SUJIT CHANDAN,BENGALURU vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE BENGALURU.-5(2)(1), BENGALURU

In the result all the three appeals in ITA Nos

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

50,00,000 Net Capital Gains on sale of villas for FY 20-21 4,92,69,179 As the assessee had declared a capital gains of Rs.4,74,72,475 in the ITR filed for AY 2021-22, therefore the additional capital gains ITA Nos.962 & 963/Bang/2025 K.S. Akhilesh Babu ITA No.964/Bang/2025 K.A. Sujith Chandan ITA No.965/Bang/2025 K.G. Subbarama Setty

DIVYA DINESH ,BENGALURU vs. DCIT, CIRCLE-7(1)(1), BANGALORE

In the result appeal of the assessee is allowed

section 80G of the Act for Rs. 16,28,978/- only.\n4. The facts in brief are that the assessee, an individual, during the\nyear under consideration derived income under the house property,\nbusiness income, capital gain and other sources. In the return of income,\nthe assessee declared Gross Total Income

PRAKASH BARE,BENGALURU vs. DCIT CIRCLE 2(2)(1), KORAMANGALA, BENGALURU

In the result, appeal filed by the assessee is allowed for statistical purposes

Bench: Shri. Laxmi Prasad Sahu & Shri. Soundararajan Kassessment Year :2020-21

50,000/- and computation of capital gain from the ITR is reproduced by the AO. From the observation of the details of the capital gain computation sheet, a notice under section

SHARADA MOHAN SHETTY,KARWAR vs. ITO, WARD-2, KARWAR

In the result, appeal of the assessee is partly allowed

Bench: Or During The Courses Of Appeal Hearing.” 2. The Brief Facts Of The Case Are That The Assessee Filed Return Of Income On 30/09/2015 For The Assessment Year 2015-16 Declaring Page 2 Of 16

gains. The exemption was claimed unit- section 54F as assessee was proposing to construct a residential house property out of the sale consideration of the property. Assessee had purchased a new landed property for a consideration more than the taxable long-term capital sum but could not proceed further to construct the house, as assessee was prevented from proceeding further

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, BELLARY, CENTRAL CIRCLE, BELLARY vs. M/S VIRGO PROPERTIES PRIVATE LIMITED, CHENNAI

In the result, appeal filed by the Revenue is dismissed

50,057/-)\nComparative chart of working of Capital Gain\nParticulars\nAs per return of\nincome filed on\n29.09.2013\nAs per\nAssessment\nOrder U/s\n143(3),\ndt.29.03.2016\nAs per\nAssessment Order\nU/s 143(3) r.w.s\n147,\ndt.06.12.2019\nCost of Asset\nincluding other\ncost\n8,45,28,050\n8,45,28,050\n3,63,23,571\nPage 14 of 21\nITA No.1181/Bang/2025

NAVJYOTI SHARMA,BANGALORE vs. DCIT ASMNT, BANGALORE

In the result appeal filed by the assessee is allowed

Bench: Shri Prashant Maharishi & Shri Keshav Dubey

capital gain as computed by the assessee amounting to Rs.36,64,791/-. The only dispute in this case is with regard to claim of deduction u/s. 54 of the Act amounting to Rs.36,64,791/-. The assessee along with his wife Mrs. Lovita Phukan had executed the agreement of purchase for a consideration Rs. 32,14,200/- and construction agreement

M/S OLIVIA APPARELS PRIVATE LIMITED,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(3), BANGALORE

In the result, all the appeals filed by the revenue and the assessee are dismissed

Bench: Shri N.V. Vasudevan & Ms. Padmavathy S

capital gain on transfer of flats based on the consideration agreed by the assessee with the developer. The CIT(A) has directed the AO to adjust the cost of flats based on the amount already taxed for sale of land. From these facts, it is clear that the CIT(A) has perused the various documents related to the impugned transaction

M/S. OLIVIA APPARELS PRIVATE LIMITED,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(3), BANGALORE

In the result, all the appeals filed by the revenue and the assessee are dismissed

Bench: Shri N.V. Vasudevan & Ms. Padmavathy S

capital gain on transfer of flats based on the consideration agreed by the assessee with the developer. The CIT(A) has directed the AO to adjust the cost of flats based on the amount already taxed for sale of land. From these facts, it is clear that the CIT(A) has perused the various documents related to the impugned transaction

THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(3), BANGALORE vs. M/S OLIVIYA APPARELS PRIVATE LIMITED, BANGALORE

In the result, all the appeals filed by the revenue and the assessee are dismissed

Bench: Shri N.V. Vasudevan & Ms. Padmavathy S

capital gain on transfer of flats based on the consideration agreed by the assessee with the developer. The CIT(A) has directed the AO to adjust the cost of flats based on the amount already taxed for sale of land. From these facts, it is clear that the CIT(A) has perused the various documents related to the impugned transaction

THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(3), BANGALORE vs. M/S OLIVIYA APPARELS PRIVATE LIMITED, BANGALORE

In the result, all the appeals filed by the revenue and the assessee are dismissed

Bench: Shri N.V. Vasudevan & Ms. Padmavathy S

capital gain on transfer of flats based on the consideration agreed by the assessee with the developer. The CIT(A) has directed the AO to adjust the cost of flats based on the amount already taxed for sale of land. From these facts, it is clear that the CIT(A) has perused the various documents related to the impugned transaction

M/S OLIVIA APPARELS PRIVATE LIMITED,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(3), BANGALORE

In the result, all the appeals filed by the revenue and the assessee are dismissed

Bench: Shri N.V. Vasudevan & Ms. Padmavathy S

capital gain on transfer of flats based on the consideration agreed by the assessee with the developer. The CIT(A) has directed the AO to adjust the cost of flats based on the amount already taxed for sale of land. From these facts, it is clear that the CIT(A) has perused the various documents related to the impugned transaction

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(1), BENGALURU vs. HIREHAL JAIRAJ BALRAM, BENGALURU

In the result, appeal filed by the assessee is allowed for statistical\npurposes

50,00,000/- and assessee was given show\ncause notice as to why guidance value should not be considered for\ncomputation of capital gain income as per Section

NALAPAD PROPERTIES ,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOMER TAX, CENTRAL CIRCLE-2(3) , BANGALORE

section 2(47)(v) so as to levy\ncapital gain tax on the date of execution of the JDA.\n7.9 The Hyderabad ITAT in Binjusaria Properties (P.)\nLtd. v. ACIT (149 ITD 169) (Hyd.) also deals with a similar issue.\nThe assessee had entered into a JDA-cum-GPA in AY 2006-07 with\na developer. The developer

SHRI. SRIRAM RUPANAGUNTA,BANGALORE vs. ASISTANT COMMISSIONER OF INCOME-TAX, CIRCLE-5(3)(2), BANGALORE

In the result, the appeal filed by the assessee stands allowed

Bench: Smt. Beena Pillai & Shri Laxmi Prasad Sahuassessment Year : 2015-16 Shri Sriram Rupanagunta, The Assistant 34 Purva Park Ridge, Commissioner Of Goshala Road, Income Tax, Garudachar Palya, Circle – 5(3)(2), Bangalore – 560 048. Vs. Banglore. Pan: Ahlpr7578N Appellant Respondent Assessee By : Shri Kodhanda Pani, Ca : Shri Kiran .D, Addl. Cit Revenue By (Dr) Date Of Hearing : 13-04-2023 Date Of Pronouncement : 18-05-2023 Order Per Beena Pillaipresent Appeal Is Filed By Assessee Against Order Dated 24.11.2022 Passed By Nfac For Assessment Year 2015-16 On Following Grounds Of Appeal: “1. The Ld.Assessing Officer Erred In Passing The Assessment Order In The Manner In Which It Is Done On The Basis Of Presumptions, Assumptions & Surmises & Inferences, Conjecture & Hypothetical, Than On The Basis Of The Facts.

gains by the revenue authorities. The Ld.AR submitted as under: 4.1 The Ld.AR submitted that the Ld.AO did not appreciate and consider that the holding period is from the day, the right to acquire shares came into existence in the previous company being the grant followed by vesting, and merely because of exchange of shares consequent to the amalgamation/merger under

JAYANTILAL BHAGWANCHAND,BENGALURU vs. INCOME TAX OFFICER, WARD-5(2)(4), BANGALORE

In the result, the appeal of the assessee is allowed

Bench: Shri George George K & Shri Waseem Ahmedassessment Year : 2011-12

Section 68 of the Act. It is recorded that "There is no dispute that the shares of the two companies were purchased online, the payments have been made through banking channel, and the shares were dematerialized and the sales have been routed from de- mat account and the consideration has been received through banking channels." The above noted factors, including

NAGAMMA,RAICHUR vs. INCOME TAX OFFICE-WARD 1, RAICHUR

In the result, appeal filed by the assessee is partly allowed

gain was calculated\nat Rs.26,06,434/-. Assessee filed detailed written submissions which was\nconsidered and not accepted and AO made addition under the LTCG of\nRs.26,06,434/-.\n3. Aggrieved from the above Order, assessee filed appeal before the\nCIT(A). The learned CIT(A), observed that the assessee did not satisfy the condition of section\n54F

NABHIRAJ RATNA BALRAJ BY LEGAL HEIR B.R.RAKESH,BANGALORE vs. INCOME-TAX OFFICER, WARD-7(2)(1), BANGALORE

In the result the appeal of the assessee is allowed

Bench: Smt. Beena Pillai & Shri Laxmi Prasad Sahuassessment Year : 2016-17

50 C, "(t)he Finance Act, 2002, has inserted a new section 50C in the Income-tax Act to make a special provision for determining the full value of consideration in cases of transfer of immovable property". Section 50C, thus, on a conceptual note, is a provision to address capital gains