Commissioner of Income Tax vs. ECE Industries Limited

gains arising from the transfer 737 of a capital asset effected in the previous year shall, save as otherwise provided in sections 54, 54B

M/S. ASHWANI KUMAR & SONS (HUF),MEERUT vs. ITO, MEERUT

In the result appeal of the assessee is dismissed

Bench: Shri I. C. Sudhir & Shri Prashant Maharishiashwani Kumar & Sons (Huf) Ito, C/0. Vinod Kumar Goel, Vs. Ward-1(1), 282, Boundary Road, Civil Lines, Meerut Meerut Pan:Aahha7564A (Appellant) (Respondent)

section 54B of the income tax act amounting to Rs. 6233100/-. This deduction was denied to the assessee holding that deduction u/s 54B of the act is available only to the individual assessee and not to HUFs. Assessee preferred an appeal before CIT appeal who in turn confirmed the action of the assessing officer on taxation of capital gains

ARUN SHUNGLOO TRUST

gains arising from the transfer of a capital asset effected in the previous year shall, save as otherwise provided in sections 54, 54B

ARUN SHUNGLOO TRUST

gains arising from the transfer of a capital asset effected in the previous year shall, save as otherwise provided in sections 54, 54B

ARUN DWIVEDI,NEW DELHI vs. ACIT, CIRCLE-9(2), NEW DELHI

In the result, the appeal of the assessee is allowed

section 45 of the Act during the relevant period is\nreproduced as under:-\nCapital gains.\n8945. [(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 2[***] [54, 54B

BRAHAM PRAKASH,GURGAON vs. ITO WARD - 1(3), GURGAON

In the result, appeal of the assessee is dismissed

Bench: Shri Kul Bharat[Assessment Year: 2011-12

54B(1) Subject to the provisions of sub-section (2), where the capital gain arises from the transfer of a capital

LALIT MOHAN GUPTA,DELHI vs. ITO, NEW DELHI

In the result, the Appeal filed by the Assessee stand allowed

Bench: Shri H.S. Sidhua.Y. : 2009-10 Lalit Mohan Gupta Vs. Ito, Ward 20(4), D-125, Mahendru New Delhi Enclave, Delhi – 110009 (Pan: Ahtpg3030A) (Appellant) (Respondent)

54B. (1) Subject to the provisions of sub-section (2), where the capital gain arises from the transfer of a capital

COMMISSIONER OF INCOME TAX DEL vs. M/S MANSAROVAR INVESTMENTS LTD

Appeals are allowed

Bench: HON'BLE MR. JUSTICE MANMOHAN,HON'BLE MR. JUSTICE SANJEEV NARULA

gains arising from the transfer of a capital asset effected in the previous year shall, save as otherwise provided in sections 54, 54B

THE COMMISSIONER OF INCOME TAX vs. M/S NALWA INVESTMENT LTD.

Appeals are allowed

Bench: HON'BLE MR. JUSTICE MANMOHAN,HON'BLE MR. JUSTICE SANJEEV NARULA

gains arising from the transfer of a capital asset effected in the previous year shall, save as otherwise provided in sections 54, 54B

COMMISSIONER OF INCOME TAX DEL vs. M/S M/S JINDAL EQUIPMENT LEASI

Appeals are allowed

gains arising from the transfer of a capital asset effected in the previous year shall, save as otherwise provided in sections 54, 54B

COMMISSIONER OF INCOME TAX DEL vs. M/S ABHUINANDAN INVESTMENTS LT

Appeals are allowed

gains arising from the transfer of a capital asset effected in the previous year shall, save as otherwise provided in sections 54, 54B

COMMISSIONER OF INCOME TAX DEL vs. M/S MANSAROVAR INVESTMENTS LTD

Appeals are allowed

gains arising from the transfer of a capital asset effected in the previous year shall, save as otherwise provided in sections 54, 54B

ROHTASH SINGH,GURGAON vs. DCIT, GURGAON

In the result, the appeal of the assessee is allowed for statistical purposes

Bench: Shri Bhavnesh Saini & Shri O.P. Kant

section 54B of the Act against the long-term capital gain for following investments made for purchase of agriculture land

ARUNA CHAUDHARY,NEW DELHI vs. ACIT, CENTRAL CIRCLE-26, NEW DELHI

In the result, the appeal of the assessee is allowed

Bench: Dr. B. R. R. Kumarsh. Yogesh Kumar Us

gains arising on of the sale of an agricultural land which is invested in another land which is used for agricultural purposes. The relevant portion of section 54B is reproduced as under: "54B (1) [Subject to the provisions of sub-section (2), where the capital

MOHD. YAMEEN MUNNA,GHAZIABAD vs. ITO, WARD- 2(1), GHAZIABAD

In the result, appeal of Assessee allowed

Bench: Shri Bhavnesh Saini

capital gain has been offered for taxation. As per Purchase Deed of the agricultural land, it was purchased on 09.01.2009 for Rs.40,20,000/- + Other Expenses, in which, assessee share was worked to Rs.20,24,070/-. Since, assessee has purchased agricultural land within the prescribed period, he was entitled for deduction under section 54B

RANDHIR SINGH,KARNAL vs. ITO, KARNAL

In the result, the appeal of the assessee is dismissed

Bench: Shri H.S. Sidhu & Shri O.P. Kantassessment Year: 2007-08

54B. "[Subject to the provisions of sub-section (2), where the capital gain arises] from the transfer of a capital

JAGJIT SINGH,PANIPAT vs. PR.CIT, KARNAL

In the result, appeal of Assessee allowed

Bench: Shri Bhavnesh Saini & Shri Prashant Maharishi

section 54B says “----- and the assessed has, within a period of two years after the date, purchased any other land for being used for agricultural purpose -- -----.” The requirement is that the assessee invest the capital gain

PREET SINGH,NEW DELHI vs. ACIT, CIRCLE- 32(1), NEW DELHI

In the result, the appeal of the assessee is dismissed

Bench: Shri Chandra Mohan Garg & Shri Pradip Kumar Kedia

gain of Rs.46,51,412/- was worked out. In the return, the assessee had claimed deduction u/s 54B of the Act and thus reported ‘Nil’ LTCG. 2.2 In terms of section 54B, the assessee is required to utilize the capital