DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, LUDHIANA vs. SUNIL KUMAR SOOD, PANCHKULA

The appeal of the Revenue is dismissed

Bench: Shri Rajpal Yadav & Shri Krinwant Sahay

Gain as under: A.Y.2017-18 9 Sale consideration Rs. 4,32,59,600/- Less indexed cost of acquisition (19070602 x 497/112) Rs. 4,31,67,862/- LTCG Rs.91,738/- Less brought forward Long Term Capital Loss (-)Rs.91,738/- Taxable LTCG NIL (c ) As this original amount was appearing in his books of account as liability, he passed accounting entry as under

DESH MITTER GAIND,PANCHKULA vs. INCOME TAX OFFICER, WARD-1, PANCHKULA, PANCHKULA, HARYANA

Bench: This Tribunal. The Assessee Is Aggrieved By The Order Of Cit(A) Bearing No. Itba/Nfac/S/250/2023-

gain arises. It is on the date on which an asset (whether long term or short term) is transferred. As per section 2(47) of the LT.Act, 1961:- transfer", in relation to a capital asset, includes,— (i) the sale, exchange or relinquishment of the asset; or (ii) the extinguishment of any rights therein ; or (iii) the compulsory acquisition thereof under

SH. AVTAR SINGH,CHANDIGARH vs. ITO, W-2(5), CHANDIGARH

Bench: SHRI A.D.JAIN (Vice President), SHRI VIKRAM SINGH YADAV (Accountant Member)

Capital Gain, in view of the provisions of Section 2(47) of the Income Tax Act, 1961, read with the provisions of Section 53A

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

INCOME TAX OFFICER, PARWANOO, H.P vs. DEYEM INDUSTRY, NALAGARH SOLAN

In the result, appeal of the Revenue is dismissed

Bench: SHRI. LALIET KUMAR (Judicial Member), SHRI. KRINWANT SAHAY, AM आयकर अपील सं. / ITA No. 708/Chd/2023 निर्धारण वर्ष / Assessment Year : 2012-13 The ITO Parwanoo, Himachal Pradesh बनाम DEYEM INDUSTRY Nalagarh, Ropar Road Near Hazat Khana, Nalagarh, H.P.- 174101 स्थायी लेखा सं./ PAN NO: AAGFD0437L अपीलार्थी/ Appellant प्रत्यर्थी/Respondent निर्धारिती की ओर से/Assessee by : Shri Ankit Awal, Ms. Khushbu Sood, Advocates राजस्व की ओर से/ Revenue by : Shri Rohit Sharma, CIT DR (Virtual) सुनवाई की ता

section 53A of the Transfer of property Act, the transfer of Assets took place in A.Y. 2012-13. 3. Briefly the facts of the case are that the assessee is a partnership firm engaged in manufacturing stainless steel jars and jar assemblies for domestic mixer grinders. For the Assessment Year 2012-13, the assessee filed its return of income