SRI ALAGAPPA MUTHIAH(HUF),BANGALORE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE-2(4), BANGALORE

In the result, both the appeals of the assessees are allowed\nand revenue appeals are dismissed

54F, 54G and 54H shall be\nchargeable to income tax under the head capital gains\nand by legal fiction it is deemed to be the income of the\nprevious year in which the transfer took place. The\nmode of computation as prescribed under Section 48\nwould indicate that the income chargeable under the\nhead capital gains shall be computed

SRI ALAGAPPA ANNAMALAI(HUF),BANGALORE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2(4), BANGALORE

In the result, both the appeals of the assessees are allowed\nand revenue appeals are dismissed

54F, 54G and 54H shall be\nchargeable to income tax under the head capital gains\nand by legal fiction it is deemed to be the income of the\nprevious year in which the transfer took place. The\nmode of computation as prescribed under Section 48\nwould indicate that the income chargeable under the\nhead capital gains shall be computed

DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2(4), BENGALURU vs. ALAGAPPA ANNAMALAI (HUF), BENGALURU

The appeals of the assessees are allowed\nand revenue appeals are dismissed

54F, 54G and 54H shall be\nchargeable to income tax under the head capital gains\nand by legal fiction it is deemed to be the income of the\nprevious year in which the transfer took place. The\nmode of computation as prescribed under Section 48\nwould indicate that the income chargeable under the\nhead capital gains shall be computed

NAVJYOTI SHARMA,BANGALORE vs. DCIT ASMNT, BANGALORE

In the result appeal filed by the assessee is allowed

Bench: Shri Prashant Maharishi & Shri Keshav Dubey

price by payment in kind or IT(IT)A No.235/Bang/2025 Navjyoti Sharma, Bangalore Page 12 of 14 adjustment towards a debt or for other monetary consideration. Each release in this case was a transfer of the releasor’s share for consideration to the release and the transferee, the assessee, "purchased" the share of each of his brothers and the assessee