SHRI RAJDEEP SINGH CHIMNI,CHANDIGARH vs. THE ASSTT. COMMISSIONER OF INCOME TAX, CIRCLE-4(1), CHANDIGARH

In the result, the addition so made and sustained by the ld CIT(A) is hereby deleted and the appeal of the assessee is allowed

Bench: SHRI. AAKASH DEEP JAIN (Vice President), SHRI. VIKRAM SINGH YADAV (Accountant Member)

Section 50C(1) was thus relaxed, and very thoughtfully so, to take these bonafide cases of small variations between the stated sale consideration vis-à-vis stamp duty valuation, out of the scope of adjustments contemplated in the computation of capital gains

AJMER SINGH,MOHALI vs. ITO, W-6(5), MOHAL

In the result, the appeal of the Revenue is dismissed

Bench: Disposal Of Appeal.”

1) of IT Act, but none the less these provisions specifically mentions about the chargeability of income under the head income from other sources so as to remove any ambiguity. Section 45 of IT Act refer to capital gains as profit or gains arising from transfer of a capital asset. Further for the purpose of computing computation of capital gains

ITO, W-6(5), MOHALI vs. SMT. GURDEV KAUR, KHARAR

In the result, the appeal of the Revenue is dismissed

Bench: Disposal Of Appeal.”

1) of IT Act, but none the less these provisions specifically mentions about the chargeability of income under the head income from other sources so as to remove any ambiguity. Section 45 of IT Act refer to capital gains as profit or gains arising from transfer of a capital asset. Further for the purpose of computing computation of capital gains

AJMER SINGH,MOHALI vs. ITO, W-6(5), MOHAL

In the result, the appeal of the Revenue is dismissed

Bench: Disposal Of Appeal.”

1) of IT Act, but none the less these provisions specifically mentions about the chargeability of income under the head income from other sources so as to remove any ambiguity. Section 45 of IT Act refer to capital gains as profit or gains arising from transfer of a capital asset. Further for the purpose of computing computation of capital gains

ACIT,CIRCLE--2(1), CHANDIGARH vs. CSJ INFRASTRUCTURE PVT.LTD, CHANDIGARH

In the result, both the appeals of the assessee are allowed and that of the Revenue are dismissed

Bench: Shri Rajpal Yadav & Shri Krinwant Sahayआयकर अपील सं./ Ita No. 131,132 /Chd/2020 "नधा"रण वष" / A.Y.: 2014-15, 2015-16, M/S Csj Infrastructure Pvt.Ltd., The Acit, C/O C.A. Ajay Kumar Jain, Vs Circle 2(1), Sco 80-81, 4Th Floor, Sector 17-C, Chandigarh. Chandigarh. "थायी लेखा सं./Pan No: Aaccc8021G अपीलाथ"/Appellant ""यथ"/Respondent आयकर अपील सं./ Ita No. 146, 147/Chd/2020 "नधा"रण वष" / A.Y.: 2014-15, 2015-16, The Acit, Vs M/S Csj Infrastructure Pvt. Ltd., Circle 2(1), C/O C.A. Ajay Kumar Jain, Chandigarh. Sco 80-81, 4Th Floor, Sector 17-C, Chandigarh. "थायी लेखा सं./Pan No: Aaccc8021G अपीलाथ"/Appellant ""यथ"/Respondent Assessee By : Shri Ajay Jain, Ca Revenue By : Shri Manav Bansal, Cit, Dr Date Of Hearing : 19.05.2025 Date Of Pronouncement : 28.05.2025 Physical Hearing O R D E R

50C. 6. The ld. CIT DR, on the other hand, relied upon orders of Revenue Authorities. He submitted that Section 43CA is applicable because Sale Deed has been registered during the Accounting Year relevant to Financial Year 2014-15. The only benefit available to the assessee is sub-clause (3) and (4) of Section 43CA. In other words

CSJ INFRASTRUCTURE PVT.LTD,CHANDIGARH vs. ACIT,CIRCLE--2(1), CHANDIGARH

In the result, both the appeals of the assessee are allowed and that of the Revenue are dismissed

Bench: Shri Rajpal Yadav & Shri Krinwant Sahayआयकर अपील सं./ Ita No. 131,132 /Chd/2020 "नधा"रण वष" / A.Y.: 2014-15, 2015-16, M/S Csj Infrastructure Pvt.Ltd., The Acit, C/O C.A. Ajay Kumar Jain, Vs Circle 2(1), Sco 80-81, 4Th Floor, Sector 17-C, Chandigarh. Chandigarh. "थायी लेखा सं./Pan No: Aaccc8021G अपीलाथ"/Appellant ""यथ"/Respondent आयकर अपील सं./ Ita No. 146, 147/Chd/2020 "नधा"रण वष" / A.Y.: 2014-15, 2015-16, The Acit, Vs M/S Csj Infrastructure Pvt. Ltd., Circle 2(1), C/O C.A. Ajay Kumar Jain, Chandigarh. Sco 80-81, 4Th Floor, Sector 17-C, Chandigarh. "थायी लेखा सं./Pan No: Aaccc8021G अपीलाथ"/Appellant ""यथ"/Respondent Assessee By : Shri Ajay Jain, Ca Revenue By : Shri Manav Bansal, Cit, Dr Date Of Hearing : 19.05.2025 Date Of Pronouncement : 28.05.2025 Physical Hearing O R D E R

50C. 6. The ld. CIT DR, on the other hand, relied upon orders of Revenue Authorities. He submitted that Section 43CA is applicable because Sale Deed has been registered during the Accounting Year relevant to Financial Year 2014-15. The only benefit available to the assessee is sub-clause (3) and (4) of Section 43CA. In other words

CSJ INFRASTRUCTURE PVT.LTD,CHANDIGARH vs. ACIT,CIRCLE--2(1), CHANDIGARH

In the result, both the appeals of the assessee are allowed and that of the Revenue are dismissed

Bench: Shri Rajpal Yadav & Shri Krinwant Sahayआयकर अपील सं./ Ita No. 131,132 /Chd/2020 "नधा"रण वष" / A.Y.: 2014-15, 2015-16, M/S Csj Infrastructure Pvt.Ltd., The Acit, C/O C.A. Ajay Kumar Jain, Vs Circle 2(1), Sco 80-81, 4Th Floor, Sector 17-C, Chandigarh. Chandigarh. "थायी लेखा सं./Pan No: Aaccc8021G अपीलाथ"/Appellant ""यथ"/Respondent आयकर अपील सं./ Ita No. 146, 147/Chd/2020 "नधा"रण वष" / A.Y.: 2014-15, 2015-16, The Acit, Vs M/S Csj Infrastructure Pvt. Ltd., Circle 2(1), C/O C.A. Ajay Kumar Jain, Chandigarh. Sco 80-81, 4Th Floor, Sector 17-C, Chandigarh. "थायी लेखा सं./Pan No: Aaccc8021G अपीलाथ"/Appellant ""यथ"/Respondent Assessee By : Shri Ajay Jain, Ca Revenue By : Shri Manav Bansal, Cit, Dr Date Of Hearing : 19.05.2025 Date Of Pronouncement : 28.05.2025 Physical Hearing O R D E R

50C. 6. The ld. CIT DR, on the other hand, relied upon orders of Revenue Authorities. He submitted that Section 43CA is applicable because Sale Deed has been registered during the Accounting Year relevant to Financial Year 2014-15. The only benefit available to the assessee is sub-clause (3) and (4) of Section 43CA. In other words

ACIT,CIRCLE--2(1), CHANDIGARH vs. CSJ INFRASTRUCTURE PVT.LTD, CHANDIGARH

In the result, both the appeals of the assessee are allowed and that of the Revenue are dismissed

Bench: Shri Rajpal Yadav & Shri Krinwant Sahayआयकर अपील सं./ Ita No. 131,132 /Chd/2020 "नधा"रण वष" / A.Y.: 2014-15, 2015-16, M/S Csj Infrastructure Pvt.Ltd., The Acit, C/O C.A. Ajay Kumar Jain, Vs Circle 2(1), Sco 80-81, 4Th Floor, Sector 17-C, Chandigarh. Chandigarh. "थायी लेखा सं./Pan No: Aaccc8021G अपीलाथ"/Appellant ""यथ"/Respondent आयकर अपील सं./ Ita No. 146, 147/Chd/2020 "नधा"रण वष" / A.Y.: 2014-15, 2015-16, The Acit, Vs M/S Csj Infrastructure Pvt. Ltd., Circle 2(1), C/O C.A. Ajay Kumar Jain, Chandigarh. Sco 80-81, 4Th Floor, Sector 17-C, Chandigarh. "थायी लेखा सं./Pan No: Aaccc8021G अपीलाथ"/Appellant ""यथ"/Respondent Assessee By : Shri Ajay Jain, Ca Revenue By : Shri Manav Bansal, Cit, Dr Date Of Hearing : 19.05.2025 Date Of Pronouncement : 28.05.2025 Physical Hearing O R D E R

50C. 6. The ld. CIT DR, on the other hand, relied upon orders of Revenue Authorities. He submitted that Section 43CA is applicable because Sale Deed has been registered during the Accounting Year relevant to Financial Year 2014-15. The only benefit available to the assessee is sub-clause (3) and (4) of Section 43CA. In other words

SH. SHIROM LAMBA,CHANDIGARH vs. ITO, WARD- 2(3), CHANDIGARH

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

section 50C introduced by the Finance\nAct, 2016 w.e.f. 01-04-2017, the date of agreement is crucial for\ndetermining the fair market value for the purpose of computation of\ncapital gains u/s 50C of the Act. He stated that this amendment by\nthe Finance Act, 2016 w.e.f., 01.04.2017, introducing the proviso is\nretrospective and he drew our attention

NEERU ARORA,CHANDIGARH vs. CIRCLE-1, INTERNATIONAL TAXATION, CHANDIGARH

In the result, the appeal of the assessee is partly allowed in terms indicated above

Bench: SHRI. LALIET KUMAR (Judicial Member), SHRI. MANOJ KUMAR AGGARWAL (Accountant Member)

capital gain invoking the provisions of section 50C. 5. The assessee filed replies dated 10.02.2023 and 24.02.2023, inter alia, submitting that the property had been sold pursuant to an agreement to sell dated 20.02.2010 and that possession was handed over and the entire sale consideration of Rs.88,00,000/- was received through banking channels during A.Y. 2010-11. The assessee

SH. HARWANT SINGH GREWAL,LUDHIANA vs. ITO, WARD-7(4), LUDHIANA

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

Bench: Shri Rajpal Yadav & Shri Krinwant Sahayआयकर अपील सं./ Ita No. 594/Chd/2022 "नधा"रण वष" / Assessment Year: 2013-14 Shri Harwant Singh Grewal, The Ito, B-Xxxiv, # 8913, Durga Puri, Vs Ward 7(4), Haibowal Kalan, Ludhiana. Ludhiana. "थायी लेखा सं./Pan No: Adcpg7982Q अपीलाथ"/Appellant ""यथ"/Respondent Assessee By : Shri Sudhir Sehgal, Advocate Revenue By : Shri Vivek Vardhan, Addl.Cit, Sr.Dr Date Of Hearing : 08.05.2025 Date Of Pronouncement : 23.06.2025 Physical Hearing O R D E R

1,56,11,266/- Total Income Rs.l,58,24,716/- Charge Interest under section 234A & 234B of the Income Tax Act, 1961. Penalty proceeding for giving wrong particulates of income has been initiated separately. (Durga Dhingra) lncome Tax Officer Ward-7(4), Ludhiana. A.Y.2013-14 4 4. On appeal, ld. First Appellate Authority has further enhanced the computation of Long Term

MONICA BIBBLY SOOD,CHANDIGARH vs. INCOME TAX OFFICER, WARD 1(3), CHANDIGARH

In the result, appeal is allowed

Bench: Shri Rajpal Yadav & Shri Manoj Kumar Aggarwalआयकरअपीलसं./ Ita No. 78/Chd/2025 "नधा"रणवष" / Assessment Year: 2013-14 Monica Bibbly Sood, The Ito, # 131, Sector 4, Vs Ward 1(3), Mdc, Panchkula. Chandigarh. "थायीलेखासं./Pan No: Alsps4022P अपीलाथ"/Appellant ""यथ"/Respondent Assessee By : Shri Harry Rikhy, Advocate Revenue By : Dr. Ranjit Kaur, Addl. Cit Sr. Dr Date Of Hearing : 28.01.2026 Date Of Pronouncement : 03.02.2026 Hybrid Hearing O R D E R

gains’ shall be computed by deducting from the full value of the consideration received or accruing as a result of transfer of the capital asset following amounts, namely; a) Expenditure incurred wholly and exclusively in connection with such transfer; b) The cost of acquisition of the asset and cost of any improvement thereto. 8. Section 50C

SH. RAM LAL,ROPAR vs. PR. C.I.T. -1, CHANDIGARH

In the result, the appeal of the assessee is allowed

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

50C of the Act while computing the capital gains. 8. As against the said order, the assessee filed an appeal to the Income Tax Appellate Tribunal. The Tribunal, by an order, dated 20.07.2018, allowed the appeal. It is against the said Order that the Revenue has come up with the above appeal. 9. It is seen from paragraph No.10

CSJ INFRASTRUCTURE PRIVATE LIMITED,INDUSTRIAL AREA PHASE vs. DCIT CIRCLE 2(1), CHANDIGARH

In the result, the appeal of the assessee is allowed

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

50C of the Act. 5. Per contra, the ld DR has relied on the order of the lower authorities. 6. We have heard the rival contentions and purused the material available on record. The provisions of section 43CA(1) which has a bearing on the matter under consideration at the relevant point in time read as under: “Where the consideration

ANAND SAWROOP,HIMACHAL PRADESH vs. INCOME TAX OFFICER , NAHAN

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

Bench: SHRI. AAKASH DEEP JAIN (Vice President), SHRI. VIKRAM SINGH YADAV (Accountant Member)

capital gains of Rs. 1,25,81,068/- was determined by the AO on sale of land by the assessee to M/s Himachal Pradesh Power Cooperation Ltd. (HPPCL) under Section 50C

BHUP SINGH KOUNDAL,MANDI vs. INCOME TAX OFFICER , WARD SHIMLA

In the result, appeal of the assessee is allowed for

Bench: Shri Rajpal Yadav & Shri Manoj Kumar Aggarwal

capital gains earned on sale of property. 6. With the assistance of ld. Representative, we have gone through the record carefully. It emerges out from the record that assessee has not filed his return of income under Section 139(1) of the Income Tax Act. The AO received an information that assessee has sold a property having value of more

BHAGWAN DASS JASSAL,AMB vs. INCOME TAX OFFICER, UNA

In the result, appeal is allowed for statistical purposes

Bench: Shri Sanjay Garg & Shri Krinwant Sahayआयकर अपील सं./ Ita No. 212/Chd/2024 "नधा"रण वष" / Assessment Year : 2012-13 Bhagwan Dass Jassal, Vs. The Ito, Partap Nagar, Amb बनाम Una, Distt. Una H.P. Himachal Pradesh 177202 "थायी लेखा सं./Pan No: Acapj8623J अपीलाथ"/ Appellant ""यथ"/ Repsondent ( Hybrid Hearing ) "नधा"रती क" ओर से/Assessee By : Shri Ashwani Kumar, Ca राज"व क" ओर से/ Revenue By : Shri Danish Abdullah, Jcit, Sr. Dr सुनवाई क" तार"ख/Date Of Hearing : 19.08.2024 उदघोषणा क" तार"ख/Date Of Pronouncement : 20.08.2024 आदेश/Order

capital gain by resort to provisions of Section 50C of the Income Tax Act, 1961. 3. That the very action of the Learned Assessing Officer in resorting to provisions of Section 148 is bad in law. 3. At the very outset, the ld. Counsel of the Assessee submitted that it is an ex-parte order passed by the ld. Addl

KANWALDEEP KAUR,CHANDIGARH vs. DCIT, CIRCLE 1, CHANDIGARH

In the result, appeal filed by the Revenue in ITA No

Bench: SHRI. LALIET KUMAR (Judicial Member), SHRI. KRINWANT SAHAY (Accountant Member)

50C stamp duty value at time of agreement to sell shall be applicable and which was rightly been taken by the appellant at the time of execution of registered sale deed. 3. In the appeal of Gurtej in ITA no 806/Chd/2024 9. Ld. DR submitted that the agreements dated 30.07.2009 and 15.02.2008 were cancelled through a cancellation deed dated