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2 results for “capital gains”+ Section 143(3)clear

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Key Topics

Section 1544Section 143(3)4Section 542Capital Gains2Long Term Capital Gains2

PR COMMISSIONER OF INCOME TAX vs. KESHAV DUTT SHREEDHAR

ITA/11/2020HC Himachal Pradesh27 Dec 2021

Bench: Hon’Ble Ms. Justice Sabina & Hon’Ble Mr. Justice Satyen Vaidya Income Tax Appeal No. 11 Of 2020 Between:- Pr. Commissioner Of Income Tax, Shimla. ….Appellant (By Sh. Vinay Kuthiala, Senior Advocate With Ms. Vandana Kuthiala, Advocate)

Section 143(3)Section 260Section 54

capital gain of Rs.38,61,259/- (on sale of flat at Delhi for a consideration of Rs.54,00,000/-). An 2 exemption under Section 54 of the Income Tax Act (for short ‘the Act’) was claimed. On 29.11.2010 assessment under Section 143(3

PRINCIPAL COMMISSIONER OF INCOME TAX vs. M/S H.P. AGRO INDUSTRIAL CORPORATION LTD THROUGH ITS MANAGING DIRECTOR

In the result, the appeal filed by the Revenue

ITA/6/2020HC Himachal Pradesh
17 Nov 2022

Bench: HON'BLE MRS. JUSTICE SABINA,HON'BLE MR. JUSTICE SUSHIL KUKREJA

For Appellant: Ms. Vandana Kuthiala, AdvocateFor Respondent: Mr. Vishal Mohan, Advocate
Section 143(3)Section 154

3 - during the appeal proceedings, clearly shows that the Long Term Capital Gains of Rs.12710334 has been set off against the b/f depreciation. The appellant has however wrongly computed the c/f of unabsorbed losses and unabsorbed depreciation in Sch CFL and UD by reducing this amount in Sch CFL from the brought forward losses as against the correct