SH. JAI RAM,JAGADHARI vs. ITO, YAMUNANAGAR

In the result, both the appeal of different assessees are allowed

Bench: Shri Sanjay Garg & Dr. B.R.R. Kumar

section 2(47) of the IT Act, 1961. We also place reliance on the decision of CIT vs. Rasiklal Maneklal (HUF) (177 ITR 198)(SC) wherein the apex court held, affirming the decision of the High Court, that there was neither an "exchange" nor a "relinquishment" and no capital gains arose from the transaction. An "exchange" involves the transfer

DCIT, CHANDIGARH vs. SMT. MANJIT KAUR, CHANDIGARH

Bench: Shri Sanjay Garg & Dr. B.R.R. Kumar

Capital gains ". Section 45 is a charging section. For the purpose of imposing the charge, Parliament has enacted detailed provisions in order to compute ITA Nos.41 to 44, 387, 45 to 54/Chd/17 & CO 16-to 30-Chd-2018- Shri Kulwant Singh & Others, Mohali 8 the profits or gains under that head. No existing principle or provision at variance with them

DCIT, CHANDIGARH vs. SMT. JASWANT KAUR, MOHALI

Bench: Shri Sanjay Garg & Dr. B.R.R. Kumar

Capital gains ". Section 45 is a charging section. For the purpose of imposing the charge, Parliament has enacted detailed provisions in order to compute ITA Nos.41 to 44, 387, 45 to 54/Chd/17 & CO 16-to 30-Chd-2018- Shri Kulwant Singh & Others, Mohali 8 the profits or gains under that head. No existing principle or provision at variance with them

DCIT, CHANDIGARH vs. SH. PARAMJIT SINGH, MOHALI

Bench: Shri Sanjay Garg & Dr. B.R.R. Kumar

Capital gains ". Section 45 is a charging section. For the purpose of imposing the charge, Parliament has enacted detailed provisions in order to compute ITA Nos.41 to 44, 387, 45 to 54/Chd/17 & CO 16-to 30-Chd-2018- Shri Kulwant Singh & Others, Mohali 8 the profits or gains under that head. No existing principle or provision at variance with them

DCIT, CHANDIGARH vs. SH. KULWANT SINGH, MOHALI

Bench: Shri Sanjay Garg & Dr. B.R.R. Kumar

Capital gains ". Section 45 is a charging section. For the purpose of imposing the charge, Parliament has enacted detailed provisions in order to compute ITA Nos.41 to 44, 387, 45 to 54/Chd/17 & CO 16-to 30-Chd-2018- Shri Kulwant Singh & Others, Mohali 8 the profits or gains under that head. No existing principle or provision at variance with them

DCIT, CHANDIGARH vs. SMT. JASWANT KAUR, MOHALI

Bench: Shri Sanjay Garg & Dr. B.R.R. Kumar

Capital gains ". Section 45 is a charging section. For the purpose of imposing the charge, Parliament has enacted detailed provisions in order to compute ITA Nos.41 to 44, 387, 45 to 54/Chd/17 & CO 16-to 30-Chd-2018- Shri Kulwant Singh & Others, Mohali 8 the profits or gains under that head. No existing principle or provision at variance with them

DCIT, CHANDIGARH vs. SH. KULWANT SINGH, MOHALI

Bench: Shri Sanjay Garg & Dr. B.R.R. Kumar

Capital gains ". Section 45 is a charging section. For the purpose of imposing the charge, Parliament has enacted detailed provisions in order to compute ITA Nos.41 to 44, 387, 45 to 54/Chd/17 & CO 16-to 30-Chd-2018- Shri Kulwant Singh & Others, Mohali 8 the profits or gains under that head. No existing principle or provision at variance with them

DCIT, CHANDIGARH vs. SH. PARAMJIT SINGH, MOHALI

Bench: Shri Sanjay Garg & Dr. B.R.R. Kumar

Capital gains ". Section 45 is a charging section. For the purpose of imposing the charge, Parliament has enacted detailed provisions in order to compute ITA Nos.41 to 44, 387, 45 to 54/Chd/17 & CO 16-to 30-Chd-2018- Shri Kulwant Singh & Others, Mohali 8 the profits or gains under that head. No existing principle or provision at variance with them

SHRI PARDEEP KUMAR JAIN,ZIRAKPUR vs. ITO, W-2(3), CHANDIGARH

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

Bench: Shri Sanjay Garg & Ms. Annapurna Guptaआयकरअपीलसं./Ita No. 190/Chd/2019 "नधा"रणवष" / Assessment Year : 2012-13 Shri Pradeep Kumar Jain, The Ito, Ward 2(3), बनाम Chandigarh Flat No.222, Orbit Apartments, 6Th Floor, Zirakpur "थायीलेखासं./Pan No: Advpj6719P अपीलाथ"/Appellant ""यथ"/Respondent

200/-in respect of 1st Floor and Rs. 1,64,000/- in respect of 2nd floor while assessing the indexed cost of improvement of residential house sold by the appellant even when the denial by Ld. AO is arbitrary, biased, without any basis and hence deserves to be set - aside by restoring the claim of the appellant

SMT. TEENA GARG,CHANDIGARH vs. PCIT, PANCHKULA

In the result, appeal of the assessee is allowed

200. It H pertinent to note that Explanation-2\nof section 263(1) would help the Id. Commissioner to take\ncognizance under section 263 of the Act, if no inquiry was\nconducted by the AO before finalizing the assessment order. No\ndoubt the assessment orders are very brief, and did not have\nelaborate discussion on these issues

DCIT, CHANDIGARH vs. M/S WINSOME YARNS LTD., CHANDIGARH

In the result, all the appeals of the Revenue are dismissed

Bench: Shri Sanjay Garg & Dr. B.R.R. Kumar

200, such sum shall be allowed as a deduction in computing the income of the previous year in which such tax has been paid.] Explanation : For the purposes of this sub-clause,— (A) "royalty" shall have the same meaning as in Explanation 2 to clause (vi) of sub- section (1) of section 9; (B) "fees for technical services" shall have

DCIT, CHANDIGARH vs. M/S WINSOME YARNS LTD., CHANDIGARH

In the result, all the appeals of the Revenue are dismissed

Bench: Shri Sanjay Garg & Dr. B.R.R. Kumar

200, such sum shall be allowed as a deduction in computing the income of the previous year in which such tax has been paid.] Explanation : For the purposes of this sub-clause,— (A) "royalty" shall have the same meaning as in Explanation 2 to clause (vi) of sub- section (1) of section 9; (B) "fees for technical services" shall have

DCIT, CHANDIGARH vs. M/S WINSOME TEXTILES INDUSTRIES LTD., CHANDIGARH

In the result, all the appeals of the Revenue are dismissed

Bench: Shri Sanjay Garg & Dr. B.R.R. Kumar

200, such sum shall be allowed as a deduction in computing the income of the previous year in which such tax has been paid.] Explanation : For the purposes of this sub-clause,— (A) "royalty" shall have the same meaning as in Explanation 2 to clause (vi) of sub- section (1) of section 9; (B) "fees for technical services" shall have

DCIT, C-4(1), CHANDIGARH vs. M/S WINSOME YARNS LTD,, CHANDIGARH

In the result, all the appeals of the Revenue are dismissed

Bench: Shri Sanjay Garg & Dr. B.R.R. Kumar

200, such sum shall be allowed as a deduction in computing the income of the previous year in which such tax has been paid.] Explanation : For the purposes of this sub-clause,— (A) "royalty" shall have the same meaning as in Explanation 2 to clause (vi) of sub- section (1) of section 9; (B) "fees for technical services" shall have

SH. RAMINDER SINGH,MOHALI vs. INCOME TAX OFFICER, WARD-6(2), MOHALI

The appeal of the assessee stands partly allowed

Bench: Shri Sanjay Garg & Smt.Annapurna Guptaआयकर अपील सं./ Ita No.1270/Chd/2019 "नधा"रण वष" / Assessment Year : 2015-16

1,14,00,000 * 497/1024 Rs. 22,95,243/- Rs. 22,95,243/- Deduction u/s 54 Rs. 91,04,757/- Investment in house property u/s 54 = Rs. 96,50,000/- Long Term Capital Gain = Nil. “ That the AO took the value of the plots at Rs.2.50 crores,as per section 50C of the Act,as against 1.14 crs shown

M/S BLUE COAST INFRASTRUCTURE DEVELOPMENT P. LTD.,SOLAN vs. DCIT, PARWANOO

In the result the appeal of the assessee is, hereby allowed and

Bench: Shri N.K. Saini & Shri Sanjay Gargआयकरअपीलसं./Ita No. 652/Chd/2017 "नधा"रणवष" / Assessment Year : 2008-09 M/S Blue Coast Infrastructure Vs. Dy. Commissioner Of Development P. Ltd., 7, Income Tax, Circle, बनाम Shopping Complex, Sector-1, Parwanoo Parwanoo, Distt. Solan, H.P.

1-A at Verem Reis Magos is classified as residential land by the district revenue administration in 1994. b) The village panchayat Reis Magos issued permission for constructing residential complexes on the above land in 1995-96 and renewed the same from time to time unto the year 2009. c) The earlier owner of the above land M/s Reis Magos

ITO, W-4, PANCHKULA vs. SMT. SEEMA BISHNOI, PANCHKULA

In the result appeal of the Department is dismissed

Bench: Shri N.K. Saini & Shri Sanjay Gargthe Ito Vs. Smt. Seema Bishnoi Ward-4, Panchkula H.No. 906, Sec-08, Panchkula

1), Thrissur in ITA No. 114 of 2012 order dt. 16/01/2013 (copy of which is placed on record) held as under: “12. Section 54F is intended to encourage construction of or acquisition of residential house with the aid of the proceeds from the transfer of any long term capital asset, which is not a residential house. The provision contemplates computing

ACIT, CIRCLE 1(1), CHANDIGARH vs. M/S SML ISUZU LTD., CHANDIGARH

Bench: SHRI. VIKRAM SINGH YADAV (Accountant Member), SHRI. PARESH M. JOSHI (Judicial Member)

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