KAPIL KUMAR AGARWAL,GURGAON vs. DCIT, GURGAON

Appeal of the assessee is allowed

Bench: Shri Amit Shukla & Shri Prashant Maharishikapil Kumar Agarwal, Vs. Dcit, C/O. Ipsaa House Anm & Circle-1(1), Associates, J021A, Mayfiled Gurgaoon Gardens, Sector-51, Gurgaon Pan: Aacpa2412L (Appellant) (Respondent)

property and provisions of Section 54F were/are applicable to all other assets, not being a residential house. Kapil Kumar Agarwal Vs DCIT In J.R. Subramanya Bhat (supra), Karnataka High Court noticed language of Section 54 which stipulated that the assessee should within one year from the date of transfer purchase, or within a period of two years thereafter, construct

ACIT, NEW DELHI vs. SHRI AKSHAY SOBTI, NEW DELHI

In the result, both the 02 appeals filed by the Revenue stand

Bench: Sh. H.S. Sidhu & Shri Prashant Maharishiassessment Year: 2012-13

house property, income from capital gain and income from other sources. During the course of hearing the AR of the assessee submitted necessary details which have been examined and placed on records. Books of accounts have been verified on test check basis and returned back. Thereafter, the AO after seeking various explanations, framed the assessment

ACIT, NEW DELHI vs. SHRI PRADEEP SOBTI, NEW DELHI

In the result, both the 02 appeals filed by the Revenue stand

Bench: Sh. H.S. Sidhu & Shri Prashant Maharishiassessment Year: 2012-13

house property, income from capital gain and income from other sources. During the course of hearing the AR of the assessee submitted necessary details which have been examined and placed on records. Books of accounts have been verified on test check basis and returned back. Thereafter, the AO after seeking various explanations, framed the assessment

DCIT, CENTRAL CIRCLE-2, NOIDA vs. AJAY GOEL, HARYANA

In the result, the appeal of the Revenue is dismissed

302 (Lahore), wherein it was held that shared interest in\nthe property does not amount to ownership of the property.\n8.3 Now the only question remains as to whether assessee can be said to be\nthe owner of residential house/flat at Goa. The legislature has used the word\n\"a\" before the words \"residential house\". In our opinion, it must

ACIT (LTU), NEW DELHI vs. MAX NEW YORK LIFE INSURANCE COMPANY LTD., NEW DELHI

In the result, the appeal is allowed for statistical purposes

Bench: Shri R.S. Syal & Shri Sudhanshu Srivastavaassessment Year : 2002-03

302 312.5 SVP 364 375 5. In the light of the above, it was claimed that its international transaction was at arm’s length. The TPO did not accept the application of CUP as the most appropriate method as the consulting firms whose rates were cited in the TP study report were only quotations and not 4 actual rates. Such

COMMISSIONER OF INCOME TAX - XV vs. BHARTI MISHRA

property and provisions of Section 54F were/are applicable to all other assets, not being a residential house. In J.R. Subramanya Bhat (supra), Karnataka High Court noticed language of Section 54 which stipulated that the assessee should within one year from the date of transfer purchase, or within a period of two years thereafter, construct a residential house to avail

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(1), MEERUT, MEERUT vs. PREM SAPRA, NEW DELHI

The appeal of the revenue is dismissed

Bench: Smt. Annapurna Gupta & Ms. Madhumita Royassessment Year: 2021-22

house". ➤ 417 ITR 547, KishorbhaiHarjibhai Patel vs. ITO (Gujarat H.C.) in which the above cited SC judgment in Sanjeev Lal has been followed. ➤ 254 ITR 22, Balraj vs. CIT (Delhi HC). Relevant findings of the High Court are reproduced at page 16 of PB and also reproduced below: "The Assessing Officer, the appellate authority as well as the Tribunal rejected

RAJNI KUMAR WIFE OF SHRI BRIG. NARENDER KUMAR H.NO.394, SECTOR-21, GURGAONN,GURGAON vs. THE INCOME TAX OFFICER WARD-3(1), GURGAON, GURGAON

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

Bench: Shri S.Rifaur Rahman & Shri Vimal Kumarrajni Kumar, Vs. Ito, Ward 3 (1), W/O Shri Brig. Narender Kumar, Gurgaon. House No.394, Sector 21, Gurgaon – 122 001 (Haryana). (Pan : Ayypk1781A) (Appellant) (Respondent) Assessee By : Shri Sudhir Sehgal, Advocate Revenue By : Shri Rajesh Kumar Dhanesta, Sr. Sr Date Of Hearing : 19.08.2025 Date Of Order : 17.09.2025 O R D E R Per S.Rifaur Rahman,Am: 1. The Assessee Has Filed Appeal Against The Order Of The Learned Commissioner Of Income-Tax (Appeals)/National Faceless Appeal Centre (Nfac), Delhi [“Ld. Cit(A)”, For Short] Dated 27.09.2023 For The Assessment Year 2017-18 & The Assessment Order Was Passed Under Section 143(3) R.W.S. 263 Of The Income-Tax Act, 1961 (For Short ‘The Act’).

302 ITR 286 (Mad.) the Madras High court held that Section 54F of Income tax Act is a beneficial provision for promoting the construction of residential house and requires to be construed liberally for achieving that purpose. The intention of the Legislature was to encourage investments in the acquisition of a residential house and completion of construction or occupation

SAAMAG DEVELOPERS PVT. LTD.,NEW DELHI vs. ACIT, NEW DELHI

Bench: Shri Bhavnesh Saini & Shri L.P. Sahu

Housing & Land Development Trust Ltd., 161 ITR 524 (SC). The assessee-company, therefore, submitted that when a sum of money is received with certain restrictions, obligations and duties to be performed, then it is only when these acts are duly complied with, income will accrue/arise to be taxable under sections 4 and 5 of the Income

SAGA DEVELOPERS PVT. LTD.,NEW DELHI vs. ACIT, NEW DELHI

Bench: Shri Bhavnesh Saini & Shri L.P. Sahu

Housing & Land Development Trust Ltd., 161 ITR 524 (SC). The assessee-company, therefore, submitted that when a sum of money is received with certain restrictions, obligations and duties to be performed, then it is only when these acts are duly complied with, income will accrue/arise to be taxable under sections 4 and 5 of the Income

SAAMAG CONSTRUCTION LTD.,NEW DELHI vs. ACIT, NEW DELHI

Bench: Shri Bhavnesh Saini & Shri L.P. Sahu

Housing & Land Development Trust Ltd., 161 ITR 524 (SC). The assessee-company, therefore, submitted that when a sum of money is received with certain restrictions, obligations and duties to be performed, then it is only when these acts are duly complied with, income will accrue/arise to be taxable under sections 4 and 5 of the Income

PYRAMID REALTORS PVT. LTD.,NEW DELHI vs. ACIT, NEW DELHI

Bench: Shri Bhavnesh Saini & Shri L.P. Sahu

Housing & Land Development Trust Ltd., 161 ITR 524 (SC). The assessee-company, therefore, submitted that when a sum of money is received with certain restrictions, obligations and duties to be performed, then it is only when these acts are duly complied with, income will accrue/arise to be taxable under sections 4 and 5 of the Income

COMMISSSIONER OF INCOME TAX-TDS vs. THE INDIAN NEWS PAPERS SOCIETY

Bench: HON'BLE DR. JUSTICE S.MURALIDHAR,HON'BLE MR. JUSTICE VIBHU BAKHRU

302 read with 34 IPC. 9. A separate charge was framed against A-4 of being found on 5th February 1996 at around 5.50 pm in possession of desi katta containing a live cartridge which was used in the murder of Omi Devi and Chander Shekhar thus committing an offence under Section 27 of the Arms Act. The incident

SNEH GUPTA,NEW DELHI vs. ACIT, CIRCLE-32(1), DELHI, DELHI

In the result, the appeal filed by the assessee is allowed on both counts on merit as well as jurisdictional issue raised by the assessee in the additional ground of appeal

Bench: SHRI SATBEER SINGH GODARA (Judicial Member), SHRI S. RIFAUR RAHMAN (Accountant Member)

property stating that it is in response of assessee's letter dated 16.09.2015. Reliance can be placed on following judicial decisions: - • CIT v. Sambandam Udaykumar, HC (Kamataka), [2012] 19 taxmann.com 17 18 "Section 54F is a beneficial provision for promoting construction of residential house, and, therefore, it has to be construed liberally for achieving purpose for which it was incorporated

M/S. UNITECH LIMITED,NEW DELHI vs. DCIT, NEW DELHI

In the result this issue is allowed in favour of the assessee

Bench: Shri Amit Shukla & Shri L.P. Sahu

house property as business income (ground 7 to 7.2); vi) Disallowance of expenditure of Rs. 5,27,339/- being expenditure (8 to 8.1); vii) Ground no. 9 and 10 relates to disallowance u/s 40A (3) and u/s 41, which has not been pressed before us. viii) Disallowance of Rs. 12,37,07,018/- u/s 14A. 11. The facts in brief

DCIT, NEW DELHI vs. M/S. UNITECH LTD., NEW DELHI

In the result this issue is allowed in favour of the assessee

Bench: Shri Amit Shukla & Shri L.P. Sahu

house property as business income (ground 7 to 7.2); vi) Disallowance of expenditure of Rs. 5,27,339/- being expenditure (8 to 8.1); vii) Ground no. 9 and 10 relates to disallowance u/s 40A (3) and u/s 41, which has not been pressed before us. viii) Disallowance of Rs. 12,37,07,018/- u/s 14A. 11. The facts in brief

RAJESH SALUJA ,MUMBAI vs. DCIT CIRCLE-70(1), NEW DELHI

In the result, the Appeal filed by the assessee is dismissed

Bench: Shri N.K.Billaiya & Shri Yogesh Kumar U.S.

Section of the Income Tax Act as the assessee obtained the possession of the property only on 29/12/2011. The benefit of interest u/s 24 of the Act has not been availed in Assessment Year 2012-13 & 2013-14 as the assessee was having the intention to disposing off Page 3 of 16 the property and the deal of sale could

MANISH TYAGI,GHAZIABAD vs. ITO, GHAZIABAD

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

Bench: Shri Amit Shukla & Shri Prashant Maharishi(Through Video Conferencing) Manish Tyagi, Vs. Ito, House No. 131, Sector-6, Ward-1(4), Chiranjeev Vihar, Ghaziabad Ghaziabad Pan: Acgpt1413J (Appellant) (Respondent)

house property, business income and interest income. Assessee did not maintain any books of account. AIR information was received showing that the assessee has deposited cash aggregating to Rs. 66,41,000/- in his two bank accounts with Bank of India and Syndicate Bank during the financial year. Therefore, the case of the assessee was selected for scrutiny. The assessee