MOSBACHER INDIA LLC,CHENNAI vs. ADDL. DIT, CHENNAI

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

1, and part of his interests in CY-OSN-97/1, to Hindustan Oil Exploration Ltd, and that since definition of capital asset, under section 2(14), includes “property of any kind held by an assessee, whether or not connected with business or profession”, these participation interests are required to be treated as capital assets. Under section 45, “any profits

ADHI KUMARA GURU,CHENNAI vs. DCIT, NCC-22(1), CHENNAI

In the result, the appeal filed by the assessee is allowed

Bench: Hon’Ble Shri Manu Kumar Giri & Hon’Ble Shri Amitabh Shuklaमाननीय "ी मनु कुमार िग"र, "ाियक सद" एवं माननीय "ी अिमताभ शु"ा, लेखा सद" के सम"

capital gains u/s. 54F(3), are only different facets of the same issue 54F(3), are only different facets of the same issue 54F(3), are only different facets of the same issue relating to the allowability of exemption to the allowability of exemption u/s. 54F. These aspects 54F. These aspects could very well have been, and in substance were

M.B.VENKATESH,CHENNAI vs. ITO COMPANY WARD II(1), CHENNAI

In the result, the appeal filed by the assessee stands allowed

Bench: Shri N.R.S. Ganesan & Shri S. Jayaramanआयकर अपील सं./Ita No.668/Chny/2018 "नधा"रण वष" /Assessment Year : 2010-11

1,15,29,000/-. The assessee’s share of capital gain works out to ₹34,76,585/-. The assessee, in fact, claims this amount of ₹34,76,585/- as exemption under Section 54F

ASSISTANT COMMISSIONER OF INCOME TAX, CHENNAI vs. MANIKANDAN, CHENNAI

The appeal of the Revenue is dismissed

1)] Any profits or gains arising from the transfer of a capital\nasset effected in the previous year shall, save as otherwise\nprovided in sections [***] [54, [54B, [***], [54D, [54E, [54EA,\n54EB,] 54F

GOKULAKRISHNA,CHENNAI vs. DEPUTY COMMISSIONER OF INCOME TAX, NON CORPORATE CIRCLE 8(1), CHENNAI

In the result, the appeal filed by the assessee is allowed and the stay\napplication is dismissed

Sections 45(1), (3)\nand (4), of the Income Tax Act which reads as under:\n\"45. [(1)] Any profits or gains arising from the transfer of a capital\nasset effected in the previous year shall, save as otherwise provided in\nsections [***] [54, [54B, [***], [54D, [54E, [54EA, 54EB,] 54F

B.SUNDARARAJAN,CHENNAI vs. DCIT, NON CORPORATE CIRCLE, CHENNAI

In the result, the appeal filed by the Revenue is dismissed and appeal of the assessee is allowed for statistical purposes

Bench: Shri Duvvuru Rl Reddy & Shri S. Jayaramanआयकर अपील सं./I.T.A. No. 431/Chny/2018 िनधा"रण वष"/Assessment Year:2008-09 The Assistant Commissioner Of Vs. Shri B. Sundararajan, Income Tax, No. 34, Umapathy Street, Non Corporate Circle 18(1), West Mambalam, Chennai 600 033. Chennai 600 034. [Pan:Aasps3969C] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No. 95/Chny/2018 िनधा"रण वष"/Assessment Year:2008-09 Shri B. Sundararajan, The Deputy Commissioner Of No. 34, Umapathy Street, Vs. Income Tax, West Mambalam, Chennai 600 033. Non Corporate Circle 18(1), Chennai 600 034. (अपीलाथ"/Appellant) (""थ"/Respondent) Department By : Mrs. V.S. Sreelekha, Cit Assessee By Shri N. Arjunraj, Ca For : Shri S. Sridhar, Advocate सुनवाई की तारीख/ Date Of Hearing : 08.09.2021 घोषणा की तारीख /Date Of Pronouncement : 16.09.2021 आदेश /O R D E R Per Duvvuru Rl Reddy: Both The Cross Appeals Filed By The Revenue As Well As Assessee Are Directed Against The Order Of The Ld. Commissioner Of Income Tax (Appeals) 15, Chennai, Dated 31.10.2017 Relevant To The Assessment Year 2008-09. 2

capital gains to the extent invested in the new residential house is not chargeable to tax under section 45 of the Income-tax Act. 20.2. The provisions contained in sub-section(1) of section 54F

ASSISTANT COMMISSIONER OF INCOME TAX NON CORPORATE CIRCLE 18(1), CHENNAI vs. SHRI. B SUNDARAJAN, CHENNAI

In the result, the appeal filed by the Revenue is dismissed and appeal of the assessee is allowed for statistical purposes

Bench: Shri Duvvuru Rl Reddy & Shri S. Jayaramanआयकर अपील सं./I.T.A. No. 431/Chny/2018 िनधा"रण वष"/Assessment Year:2008-09 The Assistant Commissioner Of Vs. Shri B. Sundararajan, Income Tax, No. 34, Umapathy Street, Non Corporate Circle 18(1), West Mambalam, Chennai 600 033. Chennai 600 034. [Pan:Aasps3969C] (अपीलाथ"/Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. No. 95/Chny/2018 िनधा"रण वष"/Assessment Year:2008-09 Shri B. Sundararajan, The Deputy Commissioner Of No. 34, Umapathy Street, Vs. Income Tax, West Mambalam, Chennai 600 033. Non Corporate Circle 18(1), Chennai 600 034. (अपीलाथ"/Appellant) (""थ"/Respondent) Department By : Mrs. V.S. Sreelekha, Cit Assessee By Shri N. Arjunraj, Ca For : Shri S. Sridhar, Advocate सुनवाई की तारीख/ Date Of Hearing : 08.09.2021 घोषणा की तारीख /Date Of Pronouncement : 16.09.2021 आदेश /O R D E R Per Duvvuru Rl Reddy: Both The Cross Appeals Filed By The Revenue As Well As Assessee Are Directed Against The Order Of The Ld. Commissioner Of Income Tax (Appeals) 15, Chennai, Dated 31.10.2017 Relevant To The Assessment Year 2008-09. 2

capital gains to the extent invested in the new residential house is not chargeable to tax under section 45 of the Income-tax Act. 20.2. The provisions contained in sub-section(1) of section 54F

ITO NON CORP WARD 14 (4), CHENNAI vs. SMT. B VATHSALA, CHENNAI

In the result, the appeal filed by the Revenue is dismissed

Bench: Shri Ramit Kochar & Shri Duvvuru R.L. Reddyआयकर अपील सं./I.T.A. No. 1112/Chny/2018 िनधा"रण वष"/Assessment Year: 2008-09 The Income Tax Officer, Smt. B. Vathsala, Non-Corporate Ward-14(4), Vs. No.34/30, Umapathy Street, Chennai. West Mambalam, Chennai – 600 033. [Pan: Actpb 9534H] (अपीलाथ" /Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri Srinivasa Rao Vana, Jcit ""थ" की ओर से/Respondent By : Shri N. Arjun Raj, C.A For Shri S. Sridhar, Advocate सुनवाई की तारीख/ Date Of Hearing : 19.11.2019 घोषणा की तारीख /Date Of Pronouncement : 27.12.2019 आदेश /O R D E R Per Duvvuru Rl Reddy: This Appeal Filed By The Revenue Is Directed Against The Order Of The Ld. Commissioner Of Income Tax (Appeals)-14, Chennai Dated 15.12.2017 Relevant To The Assessment Year 2008-09. The Only Effective Ground In This Appeal Raised By The Revenue Is That The Ld. Cit(A) Has Erred In Directing The Assessing Officer To Allow The Assessee’S Claim Of Deduction Under Section 54F Of The Income Tax Act, 1961 (In Short “The Act”).

capital gains to the extent invested in the new residential house is not chargeable to tax under section 45 of the Income-tax Act. 20.2. The provisions contained in sub-section(1) of section 54F

C.ARYAMA SUNDARAM,CHENNAI vs. ACIT, CHENNAI

In the result, the appeal filed by the assessee is allowed for statistical purpose

Bench: Shri Chandra Poojari & Shri G. Pavan Kumar

Capital Gain Account Scheme. The argument of ld. Departmental Representative was in respect of the period of construction and there is no dispute on investment of the net consideration in residential property and provision of Sec. 54F(1) of the Act are as under:- ’54F. (1) [Subject to the provisions of sub-section

M.K.VITHYA,THIRUVANNAMALAI vs. ITO WARD 1, THIRUVANNAMALAI

In the result, the appeal of the assessee is allowed for 5

Bench: Shri Abraham P.George & Shri George Mathanआयकर अपील सं./I.T.A. No. 2739/Mds/2017 "नधा"रण वष" /Assessment Year : 2014-2015

Section 54F of the Act where investment in a new residential house was made within three years from the date of transfer of the asset giving rise to the capital gains, even when the assessee had not deposited the unutilized amount in Capital Gains Accounts Scheme, before the due date prescribed for filing of return u/s.139(1

ALEXANDE ZACHARIAH,CHENNAI vs. DCIT, CHENNAI

In the result, the appeal of the assessee is allowed

Bench: Shri Duvvuru Rl Reddy & Shri S. Jayaraman

1) of the said Act. It is not a capital gain. If the amount of capital gain is greater than the cost of the new house, the difference between the amount of capital gain and the cost of the new asset is to be charged under Section 45 as the income of the previous year. If the amount of capital

P. ANANTHRAM,COIMBATORE vs. ACIT, NON-CORPORATE CIRCLE-2, COMBATORE MAIN BUILDING, 63, RACE COURSE ROAD, COIMBATORE

In the result, the appeal of the assessee is allowed

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwalआयकर अपील सं./Ita No.155/Chny/2021 िनधा"रण वष" /Assessment Year: 2016-17 P. Ananth Ram, The Asst. Commissioner Of 36, West Venkataswamy Road, Vs. Income Tax, R.S. Puram, Non Corporate Circle-2, Coimbtore – 641 002. Coimbatore. [Pan: Anxpa-6262-C] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Shri R. Vijayaraghavan, Advocate ""यथ" क" ओर से /Respondent By : Shri S. Marudhu Pandyan, Cit सुनवाई क" तारीख/Date Of Hearing : 21.12.2022 घोषणा क" तारीख /Date Of Pronouncement : 21.12.2022

Section 263 of the IT. Act, to remedy the loss of the revenue. It is therefore, proposed to invoke the provisions of the Sec. 263 of the I.T. Act, 1961” 5. Accordingly, the PCIT noted in his revision order that the assessee has sold the shares in two lots, one being shares received prior to rights issue and the second

N RAMASWAMY,CHENNAI vs. ITO, NON CORP WARD 2(3), CHENNAI

In the result, the appeal filed by the assessee is allowed

Bench: Shri N.R.S. Ganesan & Shri S. Jayaramanआयकर अपील सं./Ita No.925/Chny/2019 "नधा"रण वष" / Assessment Year : 2014-15

Section 54F of the Act which reads as follows:- 4 I.T.A. No.925/Chny/19 54F. CAPITAL GAIN ON TRANSFER OF CERTAIN CAPITAL ASSETS NOT TO BE CHARGED IN CASE OF INVESTMENT IN RESIDENTIAL HOUSE (1

SHRI D. RAVIKUMAR,,CHENNAI vs. ACIT, NCC-14,, CHENNAI

In the result, the orders of the Assessing Officer and Commissioner of Income Tax (Appeals) and Income Tax

Bench: Shri V. Durga Rao & Shri G. Manjunatha

54F. (1) Subject to the provisions of sub-section (4), where, in the case of an assessee being an individual or a Hindu undivided family, the capital gain

RAMAKRISHNAN PRABHU JYOTHI,,COIMBATORE vs. ACOT, NCC-5, , COIMBATORE

In the result the appeal is dismissed

capital gain admitted\n10, 05, 17,620/-\n:- 12 -:\nITA No.690/Chny/2020\n3. During the F.Y. 2015-16, assesse had Sold 43,91,230 shares of M/s\nRadhakrishnan Mills Limited for a sale consideration of\nRs.153,18,36,858/- and also sold 1,20,000 shares of M/s Radhakrishnan\nMills Limited for a sale- consideration of Rs.4

PALANISAMY RANI,ERODE vs. PCIT-1, COIMBATORE, COIMBATORE

In the result, the appeal of the assessee is allowed

Bench: Shri Aby T Varkey, Hon’Ble & Shri S. R. Raghunatha, Hon’Bleआयकरअपीलसं./Ita No.: 1490/Chny/2023 िनधा"रणवष" / Assessment Year: 2017-18 Principal Commissioner Of Palanisamy Rani, V. Income Tax, 38, Emm Road-2, Chennimalai Coimbatore. Road, Erode – 638 001. [Pan:Biqpr-2991-L] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ"क"ओरसे/Appellant By : Shri. T. Vasudevan, Advocate ""यथ"क"ओरसे/Respondent By : Shri. V. Nandakumar, Cit सुनवाई क" तारीख/Date Of Hearing : 09.05.2024 घोषणा क" तारीख/Date Of Pronouncement : 10.07.2024 आदेश /O R D E R

54F of the Act amounting to Rs.45,15,560, but has allowed the claim of deduction u/s 54EC of the Act. As against the capital gain admitted in the return of income amounting to Rs.39,17,794, the AO adopted the sale consideration as per section SOC of the Act amounting to Rs.2,63,04,214 and from there, recomputed

SREEDHARAN VIJAYAKUMAR ,CHENNAI vs. ITO INTERNATIIONAL TAXATION 2(2) , CHENNAI

In the result the appeal of the assessee is allowed for statistical purpose as indicated herein above

Bench: Shri A.Mohan Alankamony & Shri Duvvuru Rl Reddy

gains either in purchasing the residential house or in constructing a residential house within the period stipulated in section 54F (1), if the assessee wants the benefit of section 54 F, then he should deposit the said capital

DR. PRATHIMA VENKATACHALAM,CHENNAI vs. ITO, CHENNAI

In the result, the appeal of the assessee is allowed

Bench: Shri Abraham P. George & Shri. G. Pavan Kumarआयकर अपील सं./ I.T.A. No. 2612/Mds/2016 "नधा"रण वष" /Assessment Year : 2009-10 Dr. Prathima Venkatachalam, The Income Tax Officer, C/O Revathi S. Raghunathan, Vs. International Taxation 2(1), Chartered Accountant, Flat No. 32, Chennai. G Block, Re Classic Apartments, 68, Baroda Street, West Mambalam, Chennai - 600 033. [ Pan: Aqkpp 4278K] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant By : Shri R. Vijayaraghavan, Advocate ""यथ" क" ओर से/Respondent By : Shri A.V. Sreekanth, Jcit

Capital Gain Account Scheme. The argument of ld. Departmental Representative was in respect of the period of construction and there is no dispute on investment of the net consideration in residential property and provision of Sec. 54F(1) of the Act are as under:- ‘’54F. (1) [Subject to the provisions of sub-section