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236 results for “capital gains”+ Section 148(2)clear

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Key Topics

Section 14897Section 14778Section 143(3)61Addition to Income58Section 26337Section 6830Long Term Capital Gains23Section 142(1)21Section 14420

SHRI SHARAD AGRAWAL,INDORE vs. THE JCIT RANGE-4, INDORE

In the result, all these three appeals of the Assessees are partly allowed

ITA 153/IND/2013[2009-10]Status: DisposedITAT Indore31 May 2018AY 2009-10

Bench: Shri Kul Bharat & Shri Manish Boradassessment Year : 2009-10

Section 111ASection 143(3)Section 147Section 148

Capital Gain earned of Rs.5,65,161/- on Redemption of Mutual Funds as business income and consequently taxed the above profit at usual rate of tax instead of 15% as per provided under section 111A of the Income Tax Act. 3. That on the facts and in the circumstances of the case the Ld. CIT(A) erred in confirming

SHRI KRISHNA MOHAN CHOURSIYA, RAJGARH vs. ITO, RAJGARH

In the result, the assessee’s appeal i

Showing 1–20 of 236 · Page 1 of 12

...
Disallowance19
Section 153A18
Reopening of Assessment17
ITA 853/IND/2017[2014-15]Status: Disposed
ITAT Indore
30 Sept 2021
AY 2014-15

Bench: Hon’Ble Rajpal Yadav & Shri Manish Boradvirtual Hearing Assessment Year: 2014-15

Section 143(3)Section 2(14)Section 68

section 2(47) of the Act at the time of demolition of part of the house of the assessee and accordingly, no capital gain is taxable in the hands of the assessee in respect of demolition of part of his house. So far as the compulsory acquisition of plot area of 250 Sq Fts is concerned, we find that

NILIMA KOTHARI,INDORE vs. THE INCOME TAX OFFICER, NATIONAL FACELESS ASSTT. CENTRE, INDORE

In the result appeal of the assessee is allowed as per terms indicated above

ITA 259/IND/2024[2016-17]Status: DisposedITAT Indore20 Sept 2024AY 2016-17

Bench: Shri Manish Boradsmt. Neelima Kothari, Income Tax Officer, 601, N.R.K. Villas, Delhi Vs. 22/2 Manoramaganj, Indore (Appellant / Assessee) (Respondent/ Revenue) Pan: Adnpk7832J Assessee By Shri S.S. Deshpande, Ar Revenue By Shri Ashish Porwal, Sr.Dr Date Of Hearing 08.08.2024 Date Of Pronouncement 20.09.2024

Section 10(38)Section 147Section 148Section 151Section 68

capital gain earned on sale of shares was Rs.24,46,824/- only hence notice issued on 19.04.2021 was barred by time and order passed based on such notice deserves to be quashed. 03) Issue: Validity of approval of Notice under section 148 of the Act: That the Commissioner of Income tax (A) erred in law in not appreciating the fact

M/S. MADHYA PRADESH CRICKET ASSOCIATION,INDORE vs. THE DCIT 1(1), INDORE

In the result, the appeal filed by the Assessee is dismissed and consequently the order of the Ld

ITA 782/IND/2014[2012-13]Status: DisposedITAT Indore14 Jun 2017AY 2012-13

Bench: Shri Chandra Mohan Garg & Shri O.P.Meenaassessment Year: 2012-13 Madhya Pradesh Cricket Dcit, 1(1), Association Indore बनाम/ Holkar Stadium, Vs. 7, Race Course Road, Indore (Appellant) (Revenue ) P.A. No.Aaatg3527C Appellant By Shri Anil Kamal Garg & Shri Arpit Gaur (Ar) Revenue By Shri Lal Chand (Cit-Dr) Date Of Hearing: 21.03.2017 Date Of Pronouncement: 14.06.2017

Section 13Section 2Section 2(15)

capitalism in society. The act of auction and allocation of teams & players to highest bidder highlights importance of financial muscle over sports which put game in backburner & converted it into a glamour event & commercial venture. 11.3. Competition commission of India recently slapped a penalty of Rs.52.24 crore on BCCI for abusing its dominant position and directed it to “cease

SHRI PRADEEP MAHESHWARI HUF,INDORE vs. THE ACIT 3(1), INDORE

In the result I.T.A.No.315/Ind/2012& I

ITA 53/IND/2014[2008-09]Status: DisposedITAT Indore30 Oct 2018AY 2008-09

Bench: Shri Kul Bharat & Shri Manish Borad

Section 10(38)Section 143(3)Section 68

2) of the Act duly served upon the assessee. While scrutinizing the details the learned Assessing Officer (In short `Ld.A.O’) observed that Short Term Capital Gain of Rs.41,29,512/- has been shown from purchase and sale of equity shares of IFCI Ltd. Contract note for purchase of shares, details of payments made for the purchase, necessary documents evidencing sale

SMT. ANNAPURNA MAHESHWARI,INDORE vs. THE ITO-4(1), INDORE

In the result I.T.A.No.315/Ind/2012& I

ITA 252/IND/2016[2010-11]Status: DisposedITAT Indore30 Oct 2018AY 2010-11

Bench: Shri Kul Bharat & Shri Manish Borad

Section 10(38)Section 143(3)Section 68

2) of the Act duly served upon the assessee. While scrutinizing the details the learned Assessing Officer (In short `Ld.A.O’) observed that Short Term Capital Gain of Rs.41,29,512/- has been shown from purchase and sale of equity shares of IFCI Ltd. Contract note for purchase of shares, details of payments made for the purchase, necessary documents evidencing sale

SMT. ANNAPURNA MAHESHWARI,INDORE vs. THE ACIT, 4(1), INDORE

In the result I.T.A.No.315/Ind/2012& I

ITA 315/IND/2012[2008-09]Status: DisposedITAT Indore30 Oct 2018AY 2008-09

Bench: Shri Kul Bharat & Shri Manish Borad

Section 10(38)Section 143(3)Section 68

2) of the Act duly served upon the assessee. While scrutinizing the details the learned Assessing Officer (In short `Ld.A.O’) observed that Short Term Capital Gain of Rs.41,29,512/- has been shown from purchase and sale of equity shares of IFCI Ltd. Contract note for purchase of shares, details of payments made for the purchase, necessary documents evidencing sale

DCIT-1(1), BHOPAL vs. SHRI PRAKASH BHOJWANI, BHOPAL

Appeal is dismissed

ITA 172/IND/2019[2010-11]Status: DisposedITAT Indore02 Jan 2024AY 2010-11

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaniassessment Year: 2010-11 Dy. Cit, Shri Prakash Bhojwani, 1(1), H.No. 7, Parika Phase-I, Bhopal Walmi Road, बनाम/ Chuna Bhatti, Vs. Bhopal (Revenue / Respondent) (Assessee / Appellant) Pan: Abvpb 8825 E Assessee By Shri Ashish Goyal & Shri N.D. Patwa, Ars Revenue By Shri Harshit Bari, Sr. Dr Date Of Hearing 02.11.2023 Date Of Pronouncement 02.01.2024

Section 111ASection 111USection 143(3)Section 147Section 148Section 28

148 which was completed vide order dated 07.10.2015 u/s 147 after making following modifications/ adjustments: (i) Income of Rs. 57,28,867/- originally assessed as short-term capital gain u/s 111A is re-characterized as Business income. (ii) Income of Rs. 86,88,960/- originally assessed as long-term capital gain is re-characterised as Income from Other Source

SHRI SUNIL SHASRMA,BHOPAL vs. THE ITO, 3(2), BHOPAL

In the result, Assessee’s appeal ITANo

ITA 209/IND/2020[2010-11]Status: DisposedITAT Indore30 Nov 2021AY 2010-11

Bench: Shri Mahavir Prasad & Shri Manish Boradvirtual Hearing Assessment Year: 2010-11

Section 142(1)Section 147Section 148Section 2(47)Section 2(47)(i)Section 47Section 50CSection 80C

148 of the Act assessee also filed objections to the reason recorded for reopening and the same were duly dealt by the ld. AO. Necessary notice u/s 142(1) of the Act was also served upon the assessee. During the course of assessment proceedings qua the reason for which the assessee’s case was reopened. Ld. AO observed that there

RUPESH VYAS,INDORE vs. THE ACIT3(1), INDORE, INDORE

In the result, this appeal of assessee is dismissed

ITA 50/IND/2020[150-16]Status: DisposedITAT Indore06 Dec 2022

Bench: Shri T.R. Senthil Kumar & Shri B.M. Biyani

Section 10(38)Section 143(3)Section 68Section 69C

2 J.1 JTH 801 (S C); (ii) Durga Prasad More - 82ITR 540 (SC) (iii) Mc. Dowell & Co. Ltd. - 154 ITR 148 (SC), (iv) Asst. CIT u. Sam Nath Mani . (2006) 100 TTJ 917 (Chd) (v) Gooinda Rajulu Mudal.iar a. CIT· (1958) 34 ITR 807 (SC) Sreelekha Banerjee & othrs. o. CIT (1963) 49 ITR 112 (SC) . (vi) (vii) Kalekhan Mohammed Hanif

THE ACIT,CENTRAL CIRCLE-1, BHOPAL, BHOPAL vs. DB POWER LTD, BHOPAL

Appeal is dismissed

ITA 73/IND/2023[2015-16]Status: DisposedITAT Indore24 Jan 2024AY 2015-16

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanim/S Db Power Limited, Acit, Central Circle-1, बनाम/ Office Block, 1A, Bhopal Vs. Db City Park, 5Th Floor, Corporate Block, Opp. M.P. Nagar Zone-1, Arera Hills, Bhopal (Pan:Aaccd5475F) (Assessee/Appellant) (Revenue/Respondent) Acit, Central Circle-1, M/S Db Power Limited, बनाम/ Bhopal Office Block, 1A, Vs. Db City Park, 5Th Floor, Corporate Block, Opp. M.P. Nagar Zone-1, Arera Hills, Bhopal (Pan:Aaccd5475F) (Revenue/Appellant) (Assessee/Respondent)

Section 139(1)Section 143(1)Section 143(2)Section 147Section 148Section 151Section 56(2)(viib)Section 69C

capital expenditure by the appellant.” Page 6 of 26 M/s DB Power Limited, Bhopal ITA Nos. 68/Ind/2023 and 73/Ind/2023- A.Y. 2015-16 4. Ld. AR for assessee started pleadings qua Ground No. 1(a), 1(c) and 1(d). In these grounds, the assessee assails the AO’s action of issuance of notice u/s 148 as well as passing

DB POWER LTD,BHOPAL vs. THE ACIT,CENTRAL CIRCLE-1, BHOPAL, BHOPAL

Appeal is dismissed

ITA 68/IND/2023[2015-16]Status: DisposedITAT Indore24 Jan 2024AY 2015-16

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanim/S Db Power Limited, Acit, Central Circle-1, बनाम/ Office Block, 1A, Bhopal Vs. Db City Park, 5Th Floor, Corporate Block, Opp. M.P. Nagar Zone-1, Arera Hills, Bhopal (Pan:Aaccd5475F) (Assessee/Appellant) (Revenue/Respondent) Acit, Central Circle-1, M/S Db Power Limited, बनाम/ Bhopal Office Block, 1A, Vs. Db City Park, 5Th Floor, Corporate Block, Opp. M.P. Nagar Zone-1, Arera Hills, Bhopal (Pan:Aaccd5475F) (Revenue/Appellant) (Assessee/Respondent)

Section 139(1)Section 143(1)Section 143(2)Section 147Section 148Section 151Section 56(2)(viib)Section 69C

capital expenditure by the appellant.” Page 6 of 26 M/s DB Power Limited, Bhopal ITA Nos. 68/Ind/2023 and 73/Ind/2023- A.Y. 2015-16 4. Ld. AR for assessee started pleadings qua Ground No. 1(a), 1(c) and 1(d). In these grounds, the assessee assails the AO’s action of issuance of notice u/s 148 as well as passing

SARITA BAGDI ,INDORE vs. THE ITO WARD-4(1), INDORE

In the result appeal of the assessee is allowed

ITA 6/IND/2019[2011-12]Status: DisposedITAT Indore25 May 2021AY 2011-12

Bench: Hon’Ble Manish Borad & Hon’Ble Madhumita Royassessment Year 2011-12

Section 10(38)Section 131Section 143(3)

2. Assessee has raised following grounds of appeal:- On the facts and in the circumstances of the cases:- 1.That, on the facts and in the circumstances of the case, Ld. Commissioner of Income Tax (Appeals) - Il, Indore has erred in conforming addition to the extent of Rs. 48,85,547/- to the total income of the appellant by disallowing

M/S MALVIKA AGROTECH PVT. LTD.,DHAR vs. THE ITO-2(2), INDORE

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

ITA 358/IND/2016[2009-10]Status: DisposedITAT Indore19 Sept 2018AY 2009-10

Bench: Shri Kul Bharat & Shri Manish Boradassessment Year: 2009-10 M/S Malvika Agrotech Ito, 2(2), Pvt. Ltd, Indore Plot No.185, Sector-1, Pithampur, Dhar (Appellant) (Respondent ) Pan No.Aaccm6451G Revenue By Shri P.K. Mitra, Sr. Dr Assessee By Shri C.P. Rawka,Ca Date Of Hearing 10.09.2018 Date Of 19.9.2018 Pronouncement

Section 143(3)Section 148Section 50CSection 68

148 of the Act on 4.5.2012 duly served upon the assessee. Necessary details as called for were filed. Apart from the additions for low gross profit as well as addition u/s 68 of the Act, addition was also made for Short Term Capital Gain computed after applying provision of Section 50C of the act at Rs.78

RAMKUNWAR PATIDAR,BHOPAL vs. THE ITO 2 (4), BHOPAL

Appeal is dismissed

ITA 208/IND/2022[2009-10]Status: DisposedITAT Indore22 Feb 2024AY 2009-10

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaniassessment Year : 2009-10 Shri Ramkunwar Patidar, Income-Tax Officer, Village Salliya, 2(4), बनाम/ Post Bawadia Kalan, Bhopal Vs. Bhopal (Appellant/Assessee) (Respondent/Revenue) Pan: Blxpp4909C Assessee By Shri S.S.Solanki, Ca & Ar Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 15.01.2024 Date Of Pronouncement 22.02.2024

Section 143(3)Section 147Section 148Section 54F

148 on 22.03.2016 to re- open the assessment of assessee. Ultimately, the AO completed assessment determining taxable capital gain at Rs. 32,32,461/- and thereby making an addition of Rs. 30,46,354/-, being the differential of capital gain Rs. 32,32,461/- determined by AO and the capital gain of Rs. 1,86,107/- already declared by assessee

RUPESH VYAS,INDORE vs. THE ACIT3(1), INDORE, INDORE

In the result, this appeal of assessee is dismissed

ITA 909/IND/2018[2014-15]Status: DisposedITAT Indore07 Dec 2022AY 2014-15

Bench: Ms. Suchitra Kamble & Shri B.M. Biyani

Section 10(38)Section 143(3)Section 68Section 69C

2 J.1 JTH 801 (S C); (ii) Durga Prasad More - 82ITR 540 (SC) (iii) Mc. Dowell & Co. Ltd. - 154 ITR 148 (SC), (iv) Asst. CIT u. Sam Nath Mani . (2006) 100 TTJ 917 (Chd) (v) Gooinda Rajulu Mudal.iar a. CIT· (1958) 34 ITR 807 (SC) Sreelekha Banerjee & othrs. o. CIT (1963) 49 ITR 112 (SC) . (vi) (vii) Kalekhan Mohammed Hanif

THE DCIT,, RATLAM vs. SHRI ANIL JHALANI, RATLAM

In the result, the appeal of the revenue as well as the cross

ITA 246/IND/2015[2008-09]Status: DisposedITAT Indore30 Mar 2017AY 2008-09

Bench: Shri C.M. Garg & Shri O.P. Meena

Section 148Section 2(47)(V)Section 54Section 54FSection 54F(1)

section 2(47)(V) on the taking over of possession by the transferee from the transferer. The capital gain is chargeable in the year in which the possession was handed over by the appellant Shri Anil Jhalani to M/s Shubham Construction. The A.O. has worked out the chargeable long term capital gain at Rs.75,55,894/-. The appellant

ACIT(CENTRAL)-1,, INDORE vs. SHRI RAJUL BHARGAVA, INDORE

The appeals of the Revenue are dismissed

ITA 26/IND/2021[2013-14]Status: DisposedITAT Indore15 Mar 2022AY 2013-14

Bench: Shri Mahavir Prasad & Shri Manish Borad

Section 132Section 143(3)Section 148Section 153A

capital gains. The Honourable Bombay High Court in the case of Prashant S. Joshi (Supra) has categorically stated that the amounts received by the retiring partner are neither chargeable to tax under section 28(iv) nor under section 28(v). Therefore, the findings 16 Shri Rajul Bhargava, Indore & otr. rendered by the ITSC in the assessees’ own case on this

ACIT(CENTRAL)-1, INDORE, INDORE vs. SHRI RAUNAK MARU, INDORE

The appeals of the Revenue are dismissed

ITA 27/IND/2021[2013-14]Status: DisposedITAT Indore15 Mar 2022AY 2013-14

Bench: Shri Mahavir Prasad & Shri Manish Borad

Section 132Section 143(3)Section 148Section 153A

capital gains. The Honourable Bombay High Court in the case of Prashant S. Joshi (Supra) has categorically stated that the amounts received by the retiring partner are neither chargeable to tax under section 28(iv) nor under section 28(v). Therefore, the findings 16 Shri Rajul Bhargava, Indore & otr. rendered by the ITSC in the assessees’ own case on this

THE DCIT-3(1), INDORE vs. KUMARI SHEETAL GARG, INDORE

In the result Ground No. 1& 2 of the

ITA 254/IND/2017[2008-09]Status: DisposedITAT Indore10 Jan 2019AY 2008-09

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Boradassessment Year 2008-09 Dcit-3(1), Kumari Sheetal Garg, Indore Vs. 8/2, New Palasia, Indore (Appellant) (Respondent ) Pan No.Afhpg9179G Revenue By Shri K.C. Selvamani, Sr.Dr Assessee By Shri S.S. Solanki, Ca Date Of Hearing 07.01.2019 Date Of Pronouncement 10.01.2019 O R D E R

Section 143(3)Section 147Section 2Section 53ASection 54F

148 has been issued on 12/03/2015 i.e after 4 years from the end of Asst year which is 2008-09 in the present case. As per proviso to Section 147 where an assessment u/s 143(3) or under this section has been made for the relevant assessment year, no action shall be taken under this section after the expiry