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

8(i) The assessee further submitted that though the definition of transfer of capital asset under section 2(47) is extended w.e.f. assessment year 1988-89 to include any transaction involving the possession of any immovable property to be taken or retained in part performance of a contract of the nature referred to in Section

SH. SANJAY SINGAL,CHANDIGARH vs. DCIT, CC-1, CHANDIGARH

Bench: S/Shri N.K. Saini, Vice- & Rajpal Yadav, Vice-

8 companies are those from where the assessee has shown long-term capital gain as discussed above. 28. There were certain other assessee’s/beneficiaries who have taken long-term capital gain on the sale of PIL and other companies as admitted by them in their respective assessment. One of group namely Shri Uday Hasmukhalal Vora and Dhiren Hasmukhalal Vora have

SMT. AARTI SINGAL,CHANDIGARH vs. DCIT, CC-1, CHANDIGARH

Bench: S/Shri N.K. Saini, Vice- & Rajpal Yadav, Vice-

8 companies are those from where the assessee has shown long-term capital gain as discussed above. 28. There were certain other assessee’s/beneficiaries who have taken long-term capital gain on the sale of PIL and other companies as admitted by them in their respective assessment. One of group namely Shri Uday Hasmukhalal Vora and Dhiren Hasmukhalal Vora have

SMT. AARTI SINGAL,CHANDIGARH vs. DCIT, CC-1, CHANDIGARH

Bench: S/Shri N.K. Saini, Vice- & Rajpal Yadav, Vice-

8 companies are those from where the assessee has shown long-term capital gain as discussed above. 28. There were certain other assessee’s/beneficiaries who have taken long-term capital gain on the sale of PIL and other companies as admitted by them in their respective assessment. One of group namely Shri Uday Hasmukhalal Vora and Dhiren Hasmukhalal Vora have

SH. SANJAY SINGAL HUF,CHANDIGARH vs. DCIT, CC-1, CHANDIGARH

Bench: S/Shri N.K. Saini, Vice- & Rajpal Yadav, Vice-

8 companies are those from where the assessee has shown long-term capital gain as discussed above. 28. There were certain other assessee’s/beneficiaries who have taken long-term capital gain on the sale of PIL and other companies as admitted by them in their respective assessment. One of group namely Shri Uday Hasmukhalal Vora and Dhiren Hasmukhalal Vora have

SMT. AARTI SINGAL,CHANDIGARH vs. DCIT, CC-1, CHANDIGARH

Bench: S/Shri N.K. Saini, Vice- & Rajpal Yadav, Vice-

8 companies are those from where the assessee has shown long-term capital gain as discussed above. 28. There were certain other assessee’s/beneficiaries who have taken long-term capital gain on the sale of PIL and other companies as admitted by them in their respective assessment. One of group namely Shri Uday Hasmukhalal Vora and Dhiren Hasmukhalal Vora have

SH. ANIKET SINGAL,CHANDIGARH vs. DCIT, CC-1, CHANDIGARH

Bench: S/Shri N.K. Saini, Vice- & Rajpal Yadav, Vice-

8 companies are those from where the assessee has shown long-term capital gain as discussed above. 28. There were certain other assessee’s/beneficiaries who have taken long-term capital gain on the sale of PIL and other companies as admitted by them in their respective assessment. One of group namely Shri Uday Hasmukhalal Vora and Dhiren Hasmukhalal Vora have

SH. ANIKET SINGAL,CHANDIGARH vs. DCIT, CC-1, CHANDIGARH

Bench: S/Shri N.K. Saini, Vice- & Rajpal Yadav, Vice-

8 companies are those from where the assessee has shown long-term capital gain as discussed above. 28. There were certain other assessee’s/beneficiaries who have taken long-term capital gain on the sale of PIL and other companies as admitted by them in their respective assessment. One of group namely Shri Uday Hasmukhalal Vora and Dhiren Hasmukhalal Vora have

SH. SANJAY SINGAL,CHANDIGARH vs. DCIT, CC-1, CHANDIGARH

Bench: S/Shri N.K. Saini, Vice- & Rajpal Yadav, Vice-

8 companies are those from where the assessee has shown long-term capital gain as discussed above. 28. There were certain other assessee’s/beneficiaries who have taken long-term capital gain on the sale of PIL and other companies as admitted by them in their respective assessment. One of group namely Shri Uday Hasmukhalal Vora and Dhiren Hasmukhalal Vora have

SH. SANJAY SINGAL,CHANDIGARH vs. DCIT, CC-1, CHANDIGARH

Bench: S/Shri N.K. Saini, Vice- & Rajpal Yadav, Vice-

8 companies are those from where the assessee has shown long-term capital gain as discussed above. 28. There were certain other assessee’s/beneficiaries who have taken long-term capital gain on the sale of PIL and other companies as admitted by them in their respective assessment. One of group namely Shri Uday Hasmukhalal Vora and Dhiren Hasmukhalal Vora have

HET RAM SHARMA,MANDI vs. ITO, , SUNDERNAGAR

In the result, both the above appeals are allowed for statistical purposes

Bench: Smt. Diva Singh & Ms. Annapurna Guptaassessment Year: 2008-09 Shri. Het Ram Sharma Vs. The Ito Vill & P.O. Tattapani Sundernagar Tehsil Karsog Mandi, H.P. Mandi, H.P.

section 148 was issued to the assessee, in response to which the assessee filed return shown NIL capital gain as under: Compensation received: Rs. 30,11,938/- Cost of construction Rs. 5,96,980/- Year of construction 1983-84 Indexed cost 596980 x 551/116 Rs. 28,35,655/- Capital Gain: Rs. 1,76,283/- Less: Funds invested in construction

DHEERUMAL SHARMA,MANDI vs. ITO, SUNDERNAGAR

In the result, both the above appeals are allowed for statistical purposes

Bench: Smt. Diva Singh & Ms. Annapurna Guptaassessment Year: 2008-09 Shri. Het Ram Sharma Vs. The Ito Vill & P.O. Tattapani Sundernagar Tehsil Karsog Mandi, H.P. Mandi, H.P.

section 148 was issued to the assessee, in response to which the assessee filed return shown NIL capital gain as under: Compensation received: Rs. 30,11,938/- Cost of construction Rs. 5,96,980/- Year of construction 1983-84 Indexed cost 596980 x 551/116 Rs. 28,35,655/- Capital Gain: Rs. 1,76,283/- Less: Funds invested in construction

S.SURJIT SINGH,LUDHIANA vs. PR.CIT-1, LUDHIANA

In the result, appeal of the Assessee is allowed

Bench: Smt.Diva Singh & Shri Vikram Singh Yadav

section 54B allows exemption of capital gains earned on sale of agricultural land which is reinvested in purchase of agricultural land. And as per his own admission this denial of claim of exemption of capital gains on account of investment in agricultural land was to be given effect in subsequent year i.e. assessment year 2018-19 when the amount parked

M/S SANJAY SINGAL HUF,CHANDIGARH vs. DCIT, CC-1, CHANDIGARH

Bench: SHRI A.D.JAIN (Vice President), SHRI KRINWANT SAHAY (Accountant Member)

Section 10(38) of the Act on the gain arising from the sale of the listed shares. ITA 655/CHD/2023 & ITA 610/CHD/2023 A.Y. 2015-16 37 DEPARTMENT’S SUBMISSIONS : 8. On the other hand, the ld. DR has contended that as correctly held by the AO and confirmed by the ld. CIT(A), the assessee has shown the shares to have

SANJAY SINGAL,CHANDIGARH vs. DEPUTY COMMISSIONER OF INCOME TAX, CC-1, CHANDIGARH

Bench: SHRI A.D.JAIN (Vice President), SHRI KRINWANT SAHAY (Accountant Member)

Section 10(38) of the Act on the gain arising from the sale of the listed shares. ITA 655/CHD/2023 & ITA 610/CHD/2023 A.Y. 2015-16 37 DEPARTMENT’S SUBMISSIONS : 8. On the other hand, the ld. DR has contended that as correctly held by the AO and confirmed by the ld. CIT(A), the assessee has shown the shares to have

SHRI SANJAY JAIN,BATHINDA vs. PR.CIT(CENTRAL), LUDHIANA

Bench: Shri N.K. Saini & Shri Sudhanshu Srivastava

capital gain of Rs. 5,580/- on purchase and sale of gold coins on the same day and taxable at the maximum rate of income tax. As such, the assessment made by the AO is not erroneous and prejudicial to interest of revenue as observed by the learned Principal Commissioner of Income Tax (Central), Ludhiana. 6. That the learned Principal

RAJNI JAIN,BATHINDA vs. PR.CIT(CENTRAL), LUDHIANA

Bench: Shri N.K. Saini & Shri Sudhanshu Srivastava

capital gain of Rs. 5,580/- on purchase and sale of gold coins on the same day and taxable at the maximum rate of income tax. As such, the assessment made by the AO is not erroneous and prejudicial to interest of revenue as observed by the learned Principal Commissioner of Income Tax (Central), Ludhiana. 6. That the learned Principal

TARUN JAIN,BATHINDA vs. PR.CIT(CENTRAL), LUDHIANA

Bench: Shri N.K. Saini & Shri Sudhanshu Srivastava

capital gain of Rs. 5,580/- on purchase and sale of gold coins on the same day and taxable at the maximum rate of income tax. As such, the assessment made by the AO is not erroneous and prejudicial to interest of revenue as observed by the learned Principal Commissioner of Income Tax (Central), Ludhiana. 6. That the learned Principal