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118 results for “capital gains”+ Section 53Aclear

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Key Topics

Addition to Income54Capital Gains49Section 54F45Section 153C41Section 201(1)36Section 14835Section 53A33Section 2(47)(v)32Section 143(3)24Section 194C

SHRI. KOLA VENKAT RAMA NAIDU,BANGALORE vs. THE COMMISSIONER OF INCOME TAX (APPEALS) - 6, BANGALORE

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

ITA 206/BANG/2020[2010-11]Status: DisposedITAT Bangalore05 Aug 2022AY 2010-11

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2010-11

For Appellant: Shri V. Srinivasan, A.RFor Respondent: Shri Sumer Singh Meena, D.R
Section 133ASection 2(47)(v)Section 250

section 53A of the Transfer of Property Act. On these facts, it is not possible to hold that the transferee was willing to perform his obligations in the A.Y 2010-11 in which the capital gains

GOBINDRAM CHANDRAMANI VIVEK,BANGALORE vs. INCOME TAX OFFICER - WARD 1(1), BANGALORE, BANGALORE

Showing 1–20 of 118 · Page 1 of 6

24
Long Term Capital Gains24
Survey u/s 133A20

In the result, the appeal of the assessee is allowed for statistical purposes, in the manner indicated in this order

ITA 656/BANG/2023[2011-12]Status: DisposedITAT Bangalore13 Sept 2024AY 2011-12

Bench: Mrs. Beena Pillai & Shri Ramit Kochar

For Appellant: Sh. Ashok A Kulkarni, AdvocateFor Respondent: Ms. Neha Sahay, JCIT
Section 139Section 139(1)Section 139(4)Section 143(2)Section 143(3)Section 24Section 54Section 54(2)Section 54F

gains chargeable to tax so far as such interest on housing loan on acquisition of capital asset is not claimed as deduction u/s 24(b) by the assessee, and that is what the assessee is also now contending, albeit without prejudice. Thus, the AO is required to verify whether or not interest on housing loan on the acquisition of capital

M/S JAICO AUTOMOBILE ENGINEERING COMPANY PVT LTD ,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-11(5), BANGALORE

In the result, the appeal by the assessee is dismissed

ITA 933/BANG/2017[2007-08]Status: DisposedITAT Bangalore11 Oct 2021AY 2007-08

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2007-08

For Appellant: Smt. Sheetal Borkar, AdvocateFor Respondent: Shri Muzaffar Hussain, CIT(DR)(ITAT), Bengaluru
Section 2(47)(v)Section 234ASection 45Section 53A

53A of the Transfer of Property Act, 1882 (4 of 1982)" 57. The importance of the word "transfer" is due to the reason that under the charging section, viz. section 45, the capital gain

SHRI BINDIGANAVALE RAVI ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-5(2)(1), BANGALORE

In the result, the appeal of the assessee is partly allowed for statistical purposes

ITA 2959/BANG/2018[2015-16]Status: DisposedITAT Bangalore30 Jul 2021AY 2015-16

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariassessment Year : 2015-16

For Appellant: Smt. R. Prathiba, AdvocateFor Respondent: Shri Priyadarshi Mishra, Addl. CIT(DR)(ITAT), Bengaluru
Section 2(47)(v)Section 234DSection 53A

Section 2(47)(v) of the IT Act. The construction of the apartment was for and on behalf of the Appellant for which the cost was incurred from time to time as per the scheme of payment provided in the agreement and accordingly the Appellant had rightly computed the Cost Inflation Index while computing the capital gain. Further

SMT. SAVITRI KADUR,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME-TAX, BANGALORE

In the result, the appeal of the assessee is allowed to the extent indicated above

ITA 1700/BANG/2016[2008-09]Status: DisposedITAT Bangalore03 May 2019AY 2008-09

Bench: Shri N.V. Vasudevan & Shri Jason P Boazassessment Year : 2008-09

For Appellant: Shri Padamchand Khincha, C.AFor Respondent: Dr. Pradeep Kumar, Addl. CIT(DR)
Section 2(47)Section 45Section 54E

gain is charged to tax in the previous year in which the transfer takes place. Section 2(47) defines what is transfer and it reads as follows : Page 5 of 23 (47) "transfer", in relation to a capital asset, includes,— (i) the sale, exchange or relinquishment of the asset; or (ii) the extinguishment of any rights therein

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1(3), BANGALORE vs. M/S. R. MUNIRAJU (HUF), BANGALORE

In the result, the appeal by the revenue and the CO by the assessee are dismissed

ITA 54/BANG/2020[2010-11]Status: DisposedITAT Bangalore13 Oct 2022AY 2010-11

Bench: Shri George George K. & Ms. Padmavathy Sassessment Year : 2010-11

For Appellant: Shri Narendra Sharma, AdvocateFor Respondent: Dr. Manjunath Karkihalli, CIT(DR)(ITAT), Bengaluru
Section 132Section 143(1)Section 144Section 153ASection 153C

capital gains under the Income-tax Act, it has been held thus: "11. In order that the provisions of section 53A

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE- 4(2)(1), BANGALORE vs. M/S. N G BALU REDDY HUF, BANGALORE

In the result, the appeal of the Revenue is allowed

ITA 651/BANG/2020[2009-10]Status: DisposedITAT Bangalore21 Dec 2021AY 2009-10

Bench: Shri Chandra Poojari & Shri George George Kassessment Year : 2009-10

For Appellant: Smt. Sheethal, AdvocateFor Respondent: Shri Chetan R, Addl. CIT (DR)
Section 139(1)Section 139(4)Section 147Section 2(47)(v)

Section 53A of the Transfer of Property Act, 1882, it had been held that, in a joint development agreement, the relevant date for attracting capital gain

ACIT, BANGALORE vs. SRI. C. NARASIMHAIAH, BANGALORE

In the result, the appeal of the revenue as well as cross

ITA 206/BANG/2012[2006-07]Status: DisposedITAT Bangalore30 Jun 2016AY 2006-07

Bench: Shri A. K. Garodia & Shri Vijay Pal Rao

For Appellant: Mrs. Neera Malhotra, CITFor Respondent: Shri M.V.Seshachala, Advocate
Section 143(3)Section 153ASection 53

Section 143(3) by the Deputy Commissioner of Income Tax, Circle 1(4), Bangalore is opposed to Law and Facts and Circumstances of the case. Hence, the Assessee has come up with this appeal. 2. The moot question to be decided and answered in this appeal 4 ITA No.206(B)/12 & C.O. No.4(B)2015 - whether gains arisen is "Long

M/S PRESTIGE ESTATES PROJECTS LIMITED ,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-18(1), BANGALORE

In the result, the appeal of the assessee is allowed

ITA 813/BANG/2019[2014-15]Status: DisposedITAT Bangalore02 Mar 2021AY 2014-15

Bench: Shri N.V.Vasudevan, Vp & Shri Chandra Poojari, Am

For Appellant: Sri.Padamchand Khincha, CAFor Respondent: Smt.R.Premi, JCIT-DR
Section 191Section 194Section 201Section 201(1)Section 206ASection 4

section 53A of the Transfer of Property Act. On these facts, it is not possible to hold that the transferee was willing to perform its obligations in the financial year in which the capital gains

K S HANUMANTHA RAO,BANGALORE vs. PRINCIPAL COMMISSIONER OF INCOME TAX, BENGALURU-2, BANGALORE

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

ITA 31/BANG/2021[2013-14]Status: DisposedITAT Bangalore19 Mar 2021AY 2013-14

Bench: Shri George George K

For Appellant: Sri.K.S.Hanumantha Rao, AdvocateFor Respondent: Sri.Ganesh B.Ghale, Standing Counsel
Section 142(1)Section 143(3)Section 154Section 263Section 54

53A of the Transfer of Property Act, 1882. New sub-clauses (v) and (vi) have been inserted in section 2(47) to prevent avoidance of capital gains

SRI MAHENDRASINGH RAMSINGH JADAV,BENGALURU vs. INCOME TAX OFFICER, WARD-5(3)(5), BENGALURU

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

ITA 32/BANG/2018[2010-11]Status: DisposedITAT Bangalore16 Mar 2021AY 2010-11

Bench: Shri George George K, Jm & Shri B.R.Baskaran, Am

For Appellant: Smt.Jinita Chaterjee, AdvocateFor Respondent: Smt.R.Premi, JCIT-DR
Section 142(1)Section 143(3)Section 148Section 54Section 54(1)

53A of the Transfer of Property Act, 1882. New sub-clauses (v) and (vi) have been inserted in section 2(47) to prevent avoidance of capital gains

M/S AGNUS HOLDINGS PVT. LTD.,,BANGALORE vs. DCIT, BANGALORE

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

ITA 410/BANG/2016[2006-07]Status: DisposedITAT Bangalore01 Sept 2021AY 2006-07

Bench: Shri Chandra Poojari & Shri George George K.Assessment Year: 2006-07

For Appellant: Smt. Sheetal Borkar, AdvocateFor Respondent: Shri N.S. Shasidhar, Addl. CIT(DR)(ITAT), Bengaluru
Section 143(3)Section 147Section 148

section 53A of the T.P. Act. As such, no capital gain could be assessed in this assessment year under consideration

MR.RAHIL MAHESH KUMAR NIZAMUDDIN ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION) CIRCLE-1(2), BANGALORE

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

ITA 892/BANG/2019[2014-15]Status: DisposedITAT Bangalore18 Jul 2022AY 2014-15

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2014-15

For Appellant: Shri K.Y. Ningoji Rao, A.RFor Respondent: Shri V.S. Chakrapani, D.R
Section 48Section 54FSection 55A

53A of the TP Act. As such, the contractual obligation of the developer was not made within the assessment year 2014-15. Being so, the condition laid down in section 2(47)(v) of the Act cannot be invoked so as to bring the capital gain

SRI. A.R. PRASAD,BANGALORE vs. ITO, BANGALORE

In the result, both the appeals of the assessee are partly allowed

ITA 956/BANG/2016[2009-10]Status: DisposedITAT Bangalore28 Aug 2019AY 2009-10

Bench: Shri A. K. Garodia & Shri Pavan Kumar Gadale

For Appellant: Shri Nitish Ranjan, C. AFor Respondent: Shri Ujjwal Kumar, JCIT DR
Section 2Section 234ASection 45Section 53ASection 54F

capital gains is chargeable to tax in the subject AY. the Appellants would be eligible for claim of exemption under section 54F of the Act on the 21 flats received by them in lieu of the land they parted with." 3. The Appellants, at this juncture also wish to draw a reference to the amendment to the said section with

SMT. A.P. LAKSHMI GOWRI,BANGALORE vs. ITO, BANGALORE

In the result, both the appeals of the assessee are partly allowed

ITA 957/BANG/2016[2009-10]Status: DisposedITAT Bangalore28 Aug 2019AY 2009-10

Bench: Shri A. K. Garodia & Shri Pavan Kumar Gadale

For Appellant: Shri Nitish Ranjan, C. AFor Respondent: Shri Ujjwal Kumar, JCIT DR
Section 2Section 234ASection 45Section 53ASection 54F

capital gains is chargeable to tax in the subject AY. the Appellants would be eligible for claim of exemption under section 54F of the Act on the 21 flats received by them in lieu of the land they parted with." 3. The Appellants, at this juncture also wish to draw a reference to the amendment to the said section with

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCEL-2(1), BANGALORE vs. SRI MATHIKERE RAMAIAH SEETHARAM, BANGALORE

In the result, the appeals filed by the revenue are dismissed and the COs filed by the assessee are partly allowed for statistical purposes

ITA 542/BANG/2021[2014-15]Status: DisposedITAT Bangalore07 Nov 2022AY 2014-15

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri H. Nagin Khincha &For Respondent: Shri M. Mathivanan, D.R
Section 131Section 132(4)Section 153CSection 45(2)

Capital Gain by following completed contract method as assessee not involved in the construction and development activity and the AS-7 not applicable to the assessee as the assessee is not a contractor and the assessee’s revenue is to be recognized and governed by AS-9. ITA Nos.542 to 544/Bang/2021 & CO Nos.17 to 19/Bang/2021 Sri Mathikere Ramaiah Seetharam, Bangalore

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCEL-2(1), BANGALORE vs. SRI MATHIKERE RAMAIAH SEETHARAM, BANGALORE

In the result, the appeals filed by the revenue are dismissed and the COs filed by the assessee are partly allowed for statistical purposes

ITA 543/BANG/2021[2015-16]Status: DisposedITAT Bangalore07 Nov 2022AY 2015-16

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri H. Nagin Khincha &For Respondent: Shri M. Mathivanan, D.R
Section 131Section 132(4)Section 153CSection 45(2)

Capital Gain by following completed contract method as assessee not involved in the construction and development activity and the AS-7 not applicable to the assessee as the assessee is not a contractor and the assessee’s revenue is to be recognized and governed by AS-9. ITA Nos.542 to 544/Bang/2021 & CO Nos.17 to 19/Bang/2021 Sri Mathikere Ramaiah Seetharam, Bangalore

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCEL-2(1), BANGALORE vs. SRI MATHIKERE RAMAIAH SEETHARAM, BANGALORE

In the result, the appeals filed by the revenue are dismissed and the COs filed by the assessee are partly allowed for statistical purposes

ITA 544/BANG/2021[2016-17]Status: DisposedITAT Bangalore07 Nov 2022AY 2016-17

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri H. Nagin Khincha &For Respondent: Shri M. Mathivanan, D.R
Section 131Section 132(4)Section 153CSection 45(2)

Capital Gain by following completed contract method as assessee not involved in the construction and development activity and the AS-7 not applicable to the assessee as the assessee is not a contractor and the assessee’s revenue is to be recognized and governed by AS-9. ITA Nos.542 to 544/Bang/2021 & CO Nos.17 to 19/Bang/2021 Sri Mathikere Ramaiah Seetharam, Bangalore

BASHEER NOORULLAH KHAN,BANGALORE vs. COMMISSIONER OF INCOME TAX (APPEALS), BANGALORE

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

ITA 575/BANG/2019[2013-14]Status: DisposedITAT Bangalore31 Jul 2019AY 2013-14

Bench: Shri Arun Kumar Garodia & Shri Pavan Kumar Gadaleassessment Year : 2013-14 Shri Basheer Noorullah Khan, No. 116B, 5Th Block, Khb The Commissioner Of Colony, Koramangala, Vs. Income Tax (Appeals), Bangalore – 560 034. Bangalore. Pan: Ajxpk3037H Appellant Respondent Assessee By : Shri B.S. Balachandran, Advocate Revenue By : Dr. P.V. Pradeep Kumar, Addl. Cit (Dr) Date Of Hearing : 11.07.2019 Date Of Pronouncement : 31.07.2019

For Appellant: Shri B.S. Balachandran, AdvocateFor Respondent: Dr. P.V. Pradeep Kumar, Addl. CIT (DR)
Section 17ASection 53ASection 54Section 54F

capital gain arising from the transfer of the original asset not charged under section 45 on the basis of the cost of the new asset as provided in clause (a) or, as the case may be, clause (b) of sub-section (1), exceeds (b) the amount that would not have been so charged had the amount actually utilised

SMT.VANI SHREE ,BANGALORE vs. INCOME TAX OFFICER WARD-6(2)(4), BANGALORE

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

ITA 383/BANG/2019[2015-16]Status: DisposedITAT Bangalore28 Jul 2022AY 2015-16

Bench: Smt. Beena Pillai & Shri. Laxmi Prasad Sahuassessment Year : 2015-16 Smt. Vani Shree, No. 49, 3Rd Cross, The Income-Tax Marappa Thota, Officer, J.C. Nagar, Ward 6 (2)(4), Bangalore – 560 006. Bangalore. Vs. Pan: Gayps9756K Appellant Respondent : Shri S.V. Ravi Shankar, Assessee By Advocate : Shri Ramesh B.R., Addl. Cit Revenue By (Dr) Date Of Hearing : 09-06-2022 Date Of Pronouncement : 28-07-2022 Order Per Beena Pillaipresent Appeal Is Filed By The Assessee Against Order Dated 05.12.2018 Passed By The Ld.Cit(A)-6, Bangalore For A.Y. 2015-16 On Following Grounds Of Appeal: “1. The Order Of The Learned Commissioner Of Income-Tax (Appeals), Bengaluru, Passed Under Section 250 Of The Act In So Far As It Is Against The Appellant Is Opposed To Law, Weight Of Evidence, Natural Justice, Probabilities, Facts & Circumstances Of The Appellant'S Case. 2. The Appellant Denies Herself To Be Liable To Be Assessed To Total Income Of Rs.2,16,39,499/- On The Facts & Circumstances Of The Case.

For Respondent: Shri S.V. Ravi shankar
Section 143(2)Section 234ASection 250Section 54F

section 2(47)(v)of the Act r.w.s. 53A of the Transfer of Property Act took place on that date and hence the capital gains