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

gain as Rs 245.41 lacs. It is submitted that the provisions of S. 50C are not applicable in the case of appellant and the Ld. AC has wrongly invoked the provision of section 50C to calculate the deemed value of Letter of Intents. It is clear from the plain reading of S. 50C that it is applicable only

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

In the result, the appeal of the Revenue is dismissed

Bench: Disposal Of Appeal.”

50C of the Income Tax act. Thus the consideration price for the purpose of computing capital gains is the consideration price received in respect of sale of immovable property and it is not linked to sale consideration as recorded in the registration deed. Intention of the legislature is thus very clear in this respect. Had there been the intention

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

In the result, the appeal of the Revenue is dismissed

Bench: Disposal Of Appeal.”

50C of the Income Tax act. Thus the consideration price for the purpose of computing capital gains is the consideration price received in respect of sale of immovable property and it is not linked to sale consideration as recorded in the registration deed. Intention of the legislature is thus very clear in this respect. Had there been the intention

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

In the result, the appeal of the Revenue is dismissed

Bench: Disposal Of Appeal.”

50C of the Income Tax act. Thus the consideration price for the purpose of computing capital gains is the consideration price received in respect of sale of immovable property and it is not linked to sale consideration as recorded in the registration deed. Intention of the legislature is thus very clear in this respect. Had there been the intention

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 will have no application in the matter. The enhancement in capital gain computation, as made by the Assessing Officer, thus stands disapproved. The assessee gets the relief accordingly. 9. 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. Order pronounced

HEM RAJ JAIN,LUDHIANA vs. ITO, W-1(1), LUDHIANA

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

Bench: I.T.A.T. & The Sole Issue Relates To The Computation Of Long Term Capital Gain Earned By The Assessee On Sale Of Property. Drawing Our Attention To The Facts Of The Case, As Reproduced At Para 3 Of The Cit(A)’S Order, It Was Pointed Out That The Assessment Had Been Framed On The Assessee For The Impugned Year U/S 143(3) Of The Act Making Addition On Account Of Long Term Capital

section 50C of the Act. 3. During set aside proceedings, information was called from the purchaser of the property, M/s Akme Projects Ltd., 3 A.Y.2006-07 u/s 133(6) of the Act, in response to which copy of the account of the assessee as appearing in its books was submitted showing payments of Rs.30 lacs through DD issued by Canara Bank

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

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

SH. MAHESH CHUGH,CHANDIGARH vs. PR.CIT-2, CHANDIGARH

In the result, the appeal of the assessee is allowed

capital gain the same proportion as the cost of the new asset bears to the net asset bears to the net consideration, shall not be charged under section 45" The complete details of the commercial properties sold during the F.Y. 2014-15 and eligible/allowable deduction u/s 54F is as under:- Particulars Property No. 1 Property No. Property No. 3

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

Bench: Shri Mahavir Singh & Shri Krinwant Sahay

Section 143(3) of the Income Tax Act, 1961 (hereinafter referred to as 'the Act') vide order dated 08.07.2016. 2. The only issue in this appeal of the assessee is as regards to the order of CIT(A) sustaining the addition of long-term capital gain by computing U/s 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)

3) of the Act was erroneous and that since the same was prejudicial to the interest of the Revenue, the Assessing Officer would consider the applicability of the provisions of Section 50C of the Act while computing the capital gains

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)

50C(2) to refer the matter to a Valuation Officer. This mandatory procedure was not followed, rendering the addition unsustainable. 11. The AO further erred in not granting any deduction towards indexed cost of acquisition, which is impermissible under the law. The entire value was treated as capital gain in disregard of the provisions of section

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. 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

3 as under : A. Issue of capital gain; The assessee has sold his land measuring 2 kanals i.e 1200 Sq. yard vide vasika No. 14973 dated 31.12.2012 to Sh. Harish Singla, Joshi Nagar, Haibowal Kalan, Ludhiana and Sh. Bablesh Kumar, Deep Nagar, Ludhiana,; This document has been registered for Rs.23,76,000/-. The registry has been made as per Government

LATE SH. SHIV RAJ SINGH THROUGH LEGAL HEIR SMT. KAMLESH CHAUDHARY,SIRMOUR vs. INCOME TAX OFFICER, NAHAN

In the result, the appeal of the assessee is allowed

Bench: Shri Sanjay Garg & Shri Vikram Singh Yadav

50C of Income Tax Act. The land is stated to be ancestral land and therefore value for cost indexation is to be adopted for the year 1981, As on date, there is no such data of value of land available as on 01.04.1981. 1 presume the value of land at Rs. 10,00,000/-, for the purpose of capital gain

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)

Section 43CA talks about determination of full value of consideration as a result of transfer of an asset (other than a capital asset), being land or building or both for the purposes of computing the profits and gains from transfer of such asset. It envisages a situation where the consideration received or accruing as a result of the transfer