MR. PRAKASH CHAND BETHALA,BANGALORE vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE - 7(1), BANGALORE

Bench: Shri Chandra Poojari & Shri George George K.Assessment Year: 2007-08

53A of the Transfer of Property Act. Therefore, it was not clear how he transferred the site to Shri R.K. Sipani in 1993,when he himself got the sale deed executed in his favour in 1995 by the BDA. Further, according to the CIT(A), the ownership of property was transferred to Shri R.K. Sipani in 1993, then the sale

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

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

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

53A of the Transfer of Property Act, 1882. In that case, the issue in dispute was this as to whether as per the unregistered JDA, any transfer has taken place and any income has accrued to the assessee. Whereas in the present case, the dispute is this as to whether the assessee has purchased a house property

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

Bench: Shri Chandra Poojari & Smt. Beena Pillai

53A of the TP Act. It cannot, therefore, be said that the provisions of section 2(47)(v) of the Act will not apply in a situation before us. The argument of the Ld. D.R. is that the income of the assessee has to be assessed as business income as the assessee received sales consideration and that amount

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

Bench: Shri Chandra Poojari & Smt. Beena Pillai

53A of the TP Act. It cannot, therefore, be said that the provisions of section 2(47)(v) of the Act will not apply in a situation before us. The argument of the Ld. D.R. is that the income of the assessee has to be assessed as business income as the assessee received sales consideration and that amount

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

Bench: Shri Chandra Poojari & Smt. Beena Pillai

53A of the TP Act. It cannot, therefore, be said that the provisions of section 2(47)(v) of the Act will not apply in a situation before us. The argument of the Ld. D.R. is that the income of the assessee has to be assessed as business income as the assessee received sales consideration and that amount

M/S. S P R DEVELOPERS PRIVATE LIMITED,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1(3), BANGALORE

In the result, all the appeals filed by the assessee are allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillai

price of the property and sale takes place only after completion of the project and assessee’s share of sale consideration is identified. The proposed sale agreement cannot be put into action due to various litigations pending with various levels. Nobody can transfer the title of the property when assessee itself is owing the landed property. Being so, no project

M/S. S P R DEVELOPERS PRIVATE LIMITED,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1(3), BANGALORE

In the result, all the appeals filed by the assessee are allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillai

price of the property and sale takes place only after completion of the project and assessee’s share of sale consideration is identified. The proposed sale agreement cannot be put into action due to various litigations pending with various levels. Nobody can transfer the title of the property when assessee itself is owing the landed property. Being so, no project

M/S. S P R DEVELOPERS PRIVATE LIMITED,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1(3), BANGALORE

In the result, all the appeals filed by the assessee are allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillai

price of the property and sale takes place only after completion of the project and assessee’s share of sale consideration is identified. The proposed sale agreement cannot be put into action due to various litigations pending with various levels. Nobody can transfer the title of the property when assessee itself is owing the landed property. Being so, no project

BELLANDUR CHIKKAGURAPPA JAYARAMREDDY,BENGALURU vs. THE ASST. COMMISSIONER OF INCOME-TAX CIRCLE 4(3)(1), BENGALURU

The appeal of the assessee is allowed

Bench: Shri Chandra Poojari & Shri George George K.Assessment Year : 2014-15

price originally agreed, there would be no extra benefit that the assessee would be deriving from transfer of the asset. The amendment made to the provisions of Section 50C of the Act by the Finance Act, 2016 by insertion of proviso clarifies and fortifies the contentions of the Appellant. The relevant portion of the law is reproduced below:- Provided that

SRI ANJANEYALU PRATHIPATHI,BENGALURU vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(2), BENGALURU

In the result, all the appeals of the assessee are allowed

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariassessment Years: 2012-13

53A of the Transfer of Property Act, to consider that ITA No.2838/Bang/2017 & ITA Nos.44 – 47/Bang/2018 Page 22 of 34 there was a transfer of the property by virtue of the possession delivered by the appellant. The ld.AO has held that by executing the agreement to sell dated 21.02.2011, there was an extinguishment of the rights in the property and hence

INCOME TAX OFFICER (TDS),, BANGALORE vs. M/S. ITC EMPLOYEES HOUSING CO-OPERATIVE SOCIETY LTD, BANGALORE

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

Bench: Shri Arun Kumar Garodia & Shri Laliet Kumar

price and the Respondent Housing Society / Purchaser has agreed to purchase the sites and paid certain sum (Clause 3 of the Agreement) in pursuance of the agreement. All these ingredients / arrangements enshrined in the impugned agreement, read as a whole, confirm the privileges of ownership without transfer of title on the respondent, that could fall under section

INCOME TAX OFFICER (TDS),, BANGALORE vs. M/S. ITC EMPLOYEES HOUSING CO-OPERATIVE SOCIETY LTD, BANGALORE

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

Bench: Shri Arun Kumar Garodia & Shri Laliet Kumar

price and the Respondent Housing Society / Purchaser has agreed to purchase the sites and paid certain sum (Clause 3 of the Agreement) in pursuance of the agreement. All these ingredients / arrangements enshrined in the impugned agreement, read as a whole, confirm the privileges of ownership without transfer of title on the respondent, that could fall under section

INCOME TAX OFFICER (TDS),, BANGALORE vs. M/S. ITC EMPLOYEES HOUSING CO-OPERATIVE SOCIETY LTD, BANGALORE

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

Bench: Shri Arun Kumar Garodia & Shri Laliet Kumar

price and the Respondent Housing Society / Purchaser has agreed to purchase the sites and paid certain sum (Clause 3 of the Agreement) in pursuance of the agreement. All these ingredients / arrangements enshrined in the impugned agreement, read as a whole, confirm the privileges of ownership without transfer of title on the respondent, that could fall under section

INCOME TAX OFFICER (TDS),, BANGALORE vs. M/S. ITC EMPLOYEES HOUSING CO-OPERATIVE SOCIETY LTD, BANGALORE

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

Bench: Shri Arun Kumar Garodia & Shri Laliet Kumar

price and the Respondent Housing Society / Purchaser has agreed to purchase the sites and paid certain sum (Clause 3 of the Agreement) in pursuance of the agreement. All these ingredients / arrangements enshrined in the impugned agreement, read as a whole, confirm the privileges of ownership without transfer of title on the respondent, that could fall under section

INCOME TAX OFFICER (TDS),, BANGALORE vs. M/S. ITC EMPLOYEES HOUSING CO-OPERATIVE SOCIETY LTD, BANGALORE

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

Bench: Shri Arun Kumar Garodia & Shri Laliet Kumar

price and the Respondent Housing Society / Purchaser has agreed to purchase the sites and paid certain sum (Clause 3 of the Agreement) in pursuance of the agreement. All these ingredients / arrangements enshrined in the impugned agreement, read as a whole, confirm the privileges of ownership without transfer of title on the respondent, that could fall under section

INCOME TAX OFFICER (TDS),, BANGALORE vs. M/S. ITC EMPLOYEES HOUSING CO-OPERATIVE SOCIETY LTD, BANGALORE

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

Bench: Shri Arun Kumar Garodia & Shri Laliet Kumar

price and the Respondent Housing Society / Purchaser has agreed to purchase the sites and paid certain sum (Clause 3 of the Agreement) in pursuance of the agreement. All these ingredients / arrangements enshrined in the impugned agreement, read as a whole, confirm the privileges of ownership without transfer of title on the respondent, that could fall under section

INCOME TAX OFFICER (TDS),, BANGALORE vs. M/S. ITC EMPLOYEES HOUSING CO-OPERATIVE SOCIETY LTD, BANGALORE

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

Bench: Shri Arun Kumar Garodia & Shri Laliet Kumar

price and the Respondent Housing Society / Purchaser has agreed to purchase the sites and paid certain sum (Clause 3 of the Agreement) in pursuance of the agreement. All these ingredients / arrangements enshrined in the impugned agreement, read as a whole, confirm the privileges of ownership without transfer of title on the respondent, that could fall under section

INCOME TAX OFFICER (TDS),, BANGALORE vs. M/S. ITC EMPLOYEES HOUSING CO-OPERATIVE SOCIETY LTD, BANGALORE

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

Bench: Shri Arun Kumar Garodia & Shri Laliet Kumar

price and the Respondent Housing Society / Purchaser has agreed to purchase the sites and paid certain sum (Clause 3 of the Agreement) in pursuance of the agreement. All these ingredients / arrangements enshrined in the impugned agreement, read as a whole, confirm the privileges of ownership without transfer of title on the respondent, that could fall under section