ACIT, CIRCLE, SHIMLA vs. SHRI VINOD SHARMA, NEW DELHI

In the result, the appeal of the Revenue is dismissed

Bench: Shri A.D. Jain & Dr Krinwant Sahayआयकर अपील सं./ Ita No. 1449/Chd/2019 "नधा"रण वष" / Assessment Year: 2015-16 The Acit, Vs. Shri Vinod Sharma, बनाम B-1/3, Circle, Safdarjang Enclave, Shimla New Delhi 110029 "थायी लेखा सं./Pan No: Abkps1560N अपीलाथ"/ Appellant ""यथ"/ Repsondent (Hybrid Mode ) "नधा"रती क" ओर से/Assessee By : Sh. Vishal Mohan, Sr. Advocate With Shri Ahninav Bazwaria, Advocate राज"व क" ओर से/ Revenue By : Smt. Kusum Bansal, Cit Dr सुनवाई क" तार"ख/Date Of Hearing : 10.06.2024 उदघोषणा क" तार"ख/Date Of Pronouncement : 09.07.2024

54(1) of the Act. In the instant case, the assessee has occupied the house property during 2013 vide letter dated 30.10.2013 offering occupation of House property. Further, the assessee has claimed the deduction on amount invested till the due date of filing of return under section

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

property should be a residential house, there is no restriction for claiming the exemption that the assessee is not residing in the same house. The assessee has claimed exemption in its computation for the purchase amount of land only. It shows that this investment has been made only for purchase of land only not for purchase of residential house

SH. JAGMOHAN SINGH,LUDHIANA vs. DCIT, CC-1, LUDHIANA

In the result, the appeal of the assessee is allowed

Bench: SHRI. VIKRAM SINGH YADAV (Accountant Member)

property and to substantiate his claim of deduction under Section 54 of the Act. Thereafter, the assessee filed the necessary information/documentation which were considered by the AO but not found fully acceptable. 3. The AO reworked the LTCG at Rs. 38,65,580/-, as against capital gain of Rs. 37,22,387/- declared by the assessee, by disallowing certain cost

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

house on 29/02/2011 and claimed entire capital gain exempted under section 54 being amount deposited in capital gain account scheme on 12/09/2012 with maturity date of 12/09/2015. The assessment was finalized on 28/09/2018 and as per provisions of Section 54, there are time limits wherein the assessee is required to purchase a new residential property

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

54 of TP Act, sale means transfer of the ownership in exchange for a price paid or promised or part paid or part promised. In sale, the seller absolutely transfer all rights in the property sold and no right is retained by him. This aspect of sale makes it distinguishable from other modes of transfer of immovable property

SH. AMAR SINGH,JAGADHARI vs. ITO, YAMUNANAGAR

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

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

54 of TP Act, sale means transfer of the ownership in exchange for a price paid or promised or part paid or part promised. In sale, the seller absolutely transfer all rights in the property sold and no right is retained by him. This aspect of sale makes it distinguishable from other modes of transfer of immovable property

SHOBHA SHARMA,SIRSA vs. ITO-WARD-3, SIRSA

In the result, appeal of the assessee is allowed

property is purchased, it can be seen that the son of the assessee is a direct relation and as per the Hon’ble Delhi High Court decision in case of CIT(A) Vs. Kamal Vahal 351 ITR 4 where assessee purchased new house in name of his wife, the claim under Section 54

SH. JASWINDER SINGH LOTA,MOHALI vs. DY. DIRECTOR OF INCOME TAX, CHANDIGARH

In the result, the appeal of the assessee is allowed

Bench: Ms. Diva Singh & Shri B.R.R.Kumarassessment Year: 2008-09

54 of Income Tax Act, 1961 has been made by introducing Finance Act, 2014, wherein only residential house property purchased in India qualifies for exemption. iv) That furthermore, the Ld. CIT (A) is erroneous in upholding the additions made by the Ld. AO on the account of alleged income under the head of Capital gain whereas the income under

ITO, W-4(3), CHANDIGARH vs. SMT. RACHNA ARORA, CHANDIGARH

In the result, the appeal of the Revenue is dismissed

section 54 of Income 8 A.Y.2015-16 Tax Act, 1961, the amount of allowable claim of exemption u/s 54 should be calculated with reference to amount of investment in newly acquired residential house property

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

In the result, the appeal of the assessee is allowed

54 along with copies of sale/purchase deeds of properties and calculations of LTCG. This information is being called for under section 142(1) of the Income Tax Act,1961 and should be furnished on 22.12.2016 at 11:45 A.M..” 5.2. Referring to the above queries, it was submitted, that there can be no doubt that the issue was fully examined

KESHAV DUTT SHREEDHAR,SHIMLA vs. DCIT, SHIMLA

In the result, appeal of the assessee is allowed

house should be used for acquisition of the new asset, Section 54(1) would not have allowed adjustment and/or exemption in respect of property

DEVI DAYAL,KAITHAL vs. INCOME TAX OFFICER, WARD-1 , KAITHAL

In the result, appeal is allowed

Bench: Shri Rajpal Yadav & Shri Krinwant Sahayआयकर अपील सं./ Ita No. 899/Chd/2024 "नधा"रण वष" / Assessment Year: 2008-09 Shri Devi Dayal, Vs The Ito, Pundri Anaj Mandi, Ward – 1, Kaithal-Haryana 136026. Kaithal. "थायी लेखा सं./Pan No: Aajpd5851H अपीलाथ"/Appellant ""यथ"/Respondent Assessee By : Shri Parikshit Aggarwal, Ca & Ms. Shruti Khandelwal, Advocate Revenue By : Shri Manav Bansal, Cit, Dr Date Of Hearing : 30.07.2025 Date Of Pronouncement : 08.09.2025

property would constitute transfer. Thus, according to him, the case of the assessee falls within sub- clause (iv) and (vi) of Section 2(47) of the Income Tax Act. 11. We have duly considered the rival contentions and gone through the record carefully. There is no dispute qua the fact that agricultural land measuring 24 kanal 9 marla situated

PREM SINGH,CHAMBA vs. ACIT CIRCLE PALAMPUR, PALAMPUR

In the result, the appeal for AY 2017-18 stands partly allowed

Bench: Hon’Ble Shri Rajpal Yadav & Hon’Ble Shri Manoj Kumar Aggarwal, Am 1. आयकर अपील सं. / Ita No. 946/Chandi/2025 (िनधा"रण वष" / Assessment Year: 2015-16) & 2. आयकर अपील सं. / Ita No. 947/Chandi/2025 (िनधा"रण वष" / Assessment Year: 2017-18) Shri Prem Singh Dcit Circle, Palampur बनाम/ The Palace. Chamba Himachal Pradesh - 176061 Vs. Himachal Pradesh – 176310 "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aampr-8876-P (अपीलाथ"/Appellant) : (""थ" / Respondent) Assessee By : Shri Ajay Jain (Ca) – Ld. Ar Revenue By : Shri Bharat Bhushan Garg (Cit) (Virtual) - Ld. Dr सुनवाईकीतारीख/Date Of Hearing : 13-11-2025 घोषणाकीतारीख /Date Of Pronouncement : 13-01-2026 आदेश / O R D E R Manoj Kumar Aggarwal () 1. The Assessee Is In Further Appeals Before Us For Assessment Years (Ay) 2015-16 & 2017-18 Which Arises Out Of Separate Orders Of Learned First Appellate Authority. First, We Take Up Appeal For Assessment Year (Ay) 2015-16 Which Arises Out Of An Order Of Learned Commissioner Of Income Tax (Appeals), Nfac [Cit(A)] Dated 22-07-2025 In The Matter Of An Assessment Framed By Ld. Assessing Officer [Ao] U/S 143(3) Of The Act On 29-12-2017. The Assessee Is Aggrieved By Computation Of Capital

property tax and claimed as deduction while calculating the capital gain on account of expenditure incurred wholly and exclusively in connection with transfer of the house under sold. v) Disallowing a sum of Rs.1,25,00,000 claimed as deduction on account of lawyer fees on the ground that the same was not entitled for deduction under section 48 while

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

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

SH. PARAM PAUL SINGH,CHANDIGARH vs. DCIT (INTL. TAXATION), CIRCLE, CHANDIGARH

Appeal is partly allowed for statistical purposes in above terms

Bench: Shri N.K. Saini, Vice- & Shri S.S.Godara, Judicialmember Assessment Year:2009-10

property abroad and therefore the deduction was legally eligible to the assessee. 4.9 The basic contention here is that section 54 does not require or mandate filing of return but only mandates the timeline for making the investment in a capital gains account scheme or the residential houses

DHARAMPAL SAGHERA,CHANDIGARH vs. INCOME TAX OFFICER, WARD-1(4), CHANDIGARH , CHANDIGARH

In the result, the appeal of the assessee bearing ITA No

Bench: Sh. Laliet Kumar Hon’Ble & Sh. Manoj Kumar Aggarwal, Hon’Ble

House No. 55, Sector 9-A, Chandigarh, as long-term capital gain, claimed deductions under Sections 54 and 54EC of the Act. The amount was received in lieu of relinquishment of her long-standing possessory and beneficial rights in the property

AJAY KUMAR,FATEHABAD, HARYANA vs. ITO, WARD-1, FATEHABAD, FATEHABAD, HARYANA

Housing Board Colony,\nAmbala City-134003, Haryana\nस्थायी लेखा सं./ PAN NO: BZWPS3748D\nअपीलार्थी/Appellant\nनिर्धारिती की ओर से/Assessee by :\nNone\nराजस्व की ओर से / Revenue by :\nShri Manav Bansal, CIT, DR\nITO,\nWard-5(5), Chandigarh\nआयकर अपील सं. / ITA No. 615 /Chd/2023\nनिर्धारण वर्ष / Assessment Year: 2018-19\nबनाम\nAvtar Singh\nVill: Kaimbwala, Nayagaon\nChandigarh\nस्थायी लेखा

KARNAIL SINGH,UK vs. JCIT (OSD) INTL. TAXATION, CIRCLE, CHANDIGARH

In the result, all the appeals of the assessee stands allowed

house property”. Thereafter, the AO analyze the provisions of Article 12 of Indo-UK DTAA as well as definition of interest as per Section 2(28A) of the Act and has held that the money paid by the assessee to M/s Omaxe Ltd. is a capital investment for purchase of the property, the assessee will get back the capital asset