THE ACIT, COCHIN vs. M/S.PVR TOURIST HOME, COCHIN

Bench: Shri Inturi Rama Rao, Am & Shri Soundararajan K., Jm Assessment Year: 2012-13 Acit, Circle-1, Non-Corporate .......... Appellant Iind Floor, C.R. Building, I.S. Press Road Ernakulam 682018 Vs. Pvr Tourist Home .......... Respondent Palarivattom, Kochi 682025 [Pan: Aadfp3442Q] Appellant By: Shri Suresh Sivanandan, Cit-Dr Respondent By: Shri Mohan Pulickal, Advocate Date Of Hearing: 10.03.2025 Date Of Pronouncement: 21.03.2025

capital gains. The reference of the asset for valuation under section 55A was within the powers of the officer. Matter remanded to decide the valuation issue" 7

SRI.ESSA ISMAIL SAIT,ERNAKULAM vs. THE ACIT,CIR-2(1),, ERNAKULAM

In the result, the appeal of the assessee is partly allowed and the appeals

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

7,60,321 Capital gains chargeable Rs.20,27,017 7.3 In view of the above, it was submitted that profits and gains from transfer of a capital asset to the firm as share capital by a partner on admission can only I.T.A. Nos.605/Coch/2005 & others be charged as capital gains in the hands of partner under the provisions of section

THE ACIT, CIRCLE-1(1), ERNAKULAM, ERNAKULAM vs. SRI.E.M.PAUL, EDAKATTUKUDIYIL, KOTHAMANGALAM

In the result, the appeal of the assessee is partly allowed and the appeals

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

7,60,321 Capital gains chargeable Rs.20,27,017 7.3 In view of the above, it was submitted that profits and gains from transfer of a capital asset to the firm as share capital by a partner on admission can only I.T.A. Nos.605/Coch/2005 & others be charged as capital gains in the hands of partner under the provisions of section

THE ITO, WD-2, THODUPUZHA, THODUPUZHA vs. SRI.E.J.SONY, KOTHAMANGALAM

In the result, the appeal of the assessee is partly allowed and the appeals

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

7,60,321 Capital gains chargeable Rs.20,27,017 7.3 In view of the above, it was submitted that profits and gains from transfer of a capital asset to the firm as share capital by a partner on admission can only I.T.A. Nos.605/Coch/2005 & others be charged as capital gains in the hands of partner under the provisions of section

THE ITO, WARD-2, THODUPUZHA, THODUPUZHA vs. SRI.MARTIN JOHNY, KOTHAMANGALAM

In the result, the appeal of the assessee is partly allowed and the appeals

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

7,60,321 Capital gains chargeable Rs.20,27,017 7.3 In view of the above, it was submitted that profits and gains from transfer of a capital asset to the firm as share capital by a partner on admission can only I.T.A. Nos.605/Coch/2005 & others be charged as capital gains in the hands of partner under the provisions of section

THEACIT, CIR-1(1),EKM, ERNAKULAM vs. SRI.E.M.JOHNY, KOTHAMANGALAM

In the result, the appeal of the assessee is partly allowed and the appeals

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

7,60,321 Capital gains chargeable Rs.20,27,017 7.3 In view of the above, it was submitted that profits and gains from transfer of a capital asset to the firm as share capital by a partner on admission can only I.T.A. Nos.605/Coch/2005 & others be charged as capital gains in the hands of partner under the provisions of section

THE ACIT, CIRCLE-1(1), ERNAKULAM, ERNAKULAM vs. SRI.MATHAI XAVIER, KOTHAMANGALAM

In the result, the appeal of the assessee is partly allowed and the appeals

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

7,60,321 Capital gains chargeable Rs.20,27,017 7.3 In view of the above, it was submitted that profits and gains from transfer of a capital asset to the firm as share capital by a partner on admission can only I.T.A. Nos.605/Coch/2005 & others be charged as capital gains in the hands of partner under the provisions of section

THE ITO, WD-2, THODUPUZHA, THODUPUZHA vs. SRI.TOMY MATHEW PARTNER OF MATHAI SONS, KOTHAMANGALAM

In the result, the appeal of the assessee is partly allowed and the appeals

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

7,60,321 Capital gains chargeable Rs.20,27,017 7.3 In view of the above, it was submitted that profits and gains from transfer of a capital asset to the firm as share capital by a partner on admission can only I.T.A. Nos.605/Coch/2005 & others be charged as capital gains in the hands of partner under the provisions of section

THE ACIT, CIR-1(1), ERNAKULAM, ERNAKULAM vs. SRI.JOSE MATHEW, M/S.E.V.MTHAI & SONS, KOTHAMANGALAM

In the result, the appeal of the assessee is partly allowed and the appeals

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

7,60,321 Capital gains chargeable Rs.20,27,017 7.3 In view of the above, it was submitted that profits and gains from transfer of a capital asset to the firm as share capital by a partner on admission can only I.T.A. Nos.605/Coch/2005 & others be charged as capital gains in the hands of partner under the provisions of section

SRI.JOSE THOMAS,ADOOR vs. THE DCIT, CEN-CIRCLE, KOTTAYAM

In the result, the appeals of the assessesin ITA no

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

gains. Accordingly, we hold that capital receipt accrued to the assessee in AY 2009-10 and in that assessment year on relinquishment of trusteeship, which being a capital asset was acquired without any cost of acquisition, the same cannot be brought to tax as held by the Supreme Court in the case of B.C. Srinivasa Shetty (supra). This ground

CARMEL EDUCATIONAL TRUST,PATHANAMTHITTA vs. DCIT,CEN- CIRCLE,, KOTTAYAM

In the result, the appeals of the assesses in ITA no

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

gains. Accordingly, we hold that capital receipt accrued to the assessee in AY 2009-10 and in that assessment year on relinquishment of trusteeship, which being a capital asset was acquired without any cost of acquisition, the same cannot be brought to tax as held by the Supreme Court in the case of B.C. Srinivasa Shetty (supra). This ground

SMT.GRACY BABU,ADOOR P.O. vs. THE DCIT CEN-CIRCLE, KOTTAYAM

In the result, the appeals of the assessesin ITA no

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

gains. Accordingly, we hold that capital receipt accrued to the assessee in AY 2009-10 and in that assessment year on relinquishment of trusteeship, which being a capital asset was acquired without any cost of acquisition, the same cannot be brought to tax as held by the Supreme Court in the case of B.C. Srinivasa Shetty (supra). This ground

THE DCIT, CEN-CIRCLE, KOTTAYAM vs. SRI.JOSE THOMAS, ADOOR

In the result, the appeals of the assesses in ITA no

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

gains. Accordingly, we hold that capital receipt accrued to the assessee in AY 2009-10 and in that assessment year on relinquishment of trusteeship, which being a capital asset was acquired without any cost of acquisition, the same cannot be brought to tax as held by the Supreme Court in the case of B.C. Srinivasa Shetty (supra). This ground

CARMEL EDUCATIONAL TRUST,PATHANAMTHITTA vs. DCIT,CEN- CIRCLE,, KOTTAYAM

In the result, the appeals of the assesses in ITA no

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

gains. Accordingly, we hold that capital receipt accrued to the assessee in AY 2009-10 and in that assessment year on relinquishment of trusteeship, which being a capital asset was acquired without any cost of acquisition, the same cannot be brought to tax as held by the Supreme Court in the case of B.C. Srinivasa Shetty (supra). This ground

THE DCIT CEN-CIRCLE, KOTTAYAM vs. SMT.GRACY BABU, ADOOR P.O.

In the result, the appeals of the assesses in ITA no

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

gains. Accordingly, we hold that capital receipt accrued to the assessee in AY 2009-10 and in that assessment year on relinquishment of trusteeship, which being a capital asset was acquired without any cost of acquisition, the same cannot be brought to tax as held by the Supreme Court in the case of B.C. Srinivasa Shetty (supra). This ground

CARMEL EDUCATIONAL TRUST,PATHANAMTHITTA vs. DCIT,CEN- CIRCLE,, KOTTAYAM

In the result, the appeals of the assesses in ITA no

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

gains. Accordingly, we hold that capital receipt accrued to the assessee in AY 2009-10 and in that assessment year on relinquishment of trusteeship, which being a capital asset was acquired without any cost of acquisition, the same cannot be brought to tax as held by the Supreme Court in the case of B.C. Srinivasa Shetty (supra). This ground

SRI.JOSE THOMAS,ADOOR vs. THE DCIT, CEN-CIRCLE, KOTTAYAM

In the result, the appeals of the assessesin ITA no

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

gains. Accordingly, we hold that capital receipt accrued to the assessee in AY 2009-10 and in that assessment year on relinquishment of trusteeship, which being a capital asset was acquired without any cost of acquisition, the same cannot be brought to tax as held by the Supreme Court in the case of B.C. Srinivasa Shetty (supra). This ground

SRI.JOSE THOMAS,ADOOR vs. THE DCIT, CEN-CIRCLE, KOTTAYAM

In the result, the appeals of the assessesin ITA no

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

gains. Accordingly, we hold that capital receipt accrued to the assessee in AY 2009-10 and in that assessment year on relinquishment of trusteeship, which being a capital asset was acquired without any cost of acquisition, the same cannot be brought to tax as held by the Supreme Court in the case of B.C. Srinivasa Shetty (supra). This ground