SHRI SHALIGRAM BAROD, ,INDORE vs. PR. CIT-1, INDORE

Bench: Hon'Ble Manish Borad & Hon'Ble’ Madhumita Royassessment Year:2014-15 Shri Shaligram Barod, Pr. Cit-I, Ah/29, Hig, Sukhliya Indore बनाम/ Indore Vs. (Appellant) (Respondent ) P.A. No. Ahfpp4068H Appellant By Shri S.N. Agrawal, Ca Revenue By Shri S.B. Prasad, Cit-Dr

1,30,20, OOO/~ through a, registered deed dated 26th March 2014. In this registered deed you are shown as seller number I & Daksha as seller number 2.You have calculated and declared capital gain on the consideration of Rs.97,60,OOO/~ for assessment Year 20,14.15, against which deduction under section 54F

KESHAV KANUNGO,BHOPAL vs. ACIT2(1) BHOPAL, BHOPAL

Appeal is allowed in terms mentioned above

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaniassessment Year: 2015-16 Keshav Kanungo, Acit, Flat No. A-603, Circle-2(1), Virasha Heights, Bhopal बनाम/ Near Danish Bridge, Vs. Bhopal (Appellant/Assessee) (Respondent/Revenue) Pan: Abvpk 2942 F Assessee By Ms. Nisha Lahoti, Ar Revenue By Shri Ashish Porwal, Sr Dr Date Of Hearing 12.02.2024 Date Of Pronouncement 26.02.2024

capital gain account within Page 3 of 10 Keshav Kanungo, Bhopal ITA No. 263/Ind/2023 – AY 2015-16 the prescribed time limit but he could invest only Rs. 49,18,500/- in purchase of new flat hence, he offered Rs. 26,48,811/- in A.Y. 2018-19 as per the proviso to section 54F(1

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

Appeal is dismissed

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

capital gain 1,86,107 32,32,461 Page 3 of 11 Shri Ramkunwar Patidar, Bhopal vs. ITO, 2(4), Bhopal ITA No. 208/Ind/2022 – AY 2009-10 Aggrieved, the assessee carried mater in first appeal but did not get any relief. Now, the assessee has come in next appeal before us. 3. Ld. AR for assessee drew our attention

BHARAT SHAH,INDORE vs. THE ITO3(4), INDORE

In the result, Assessee’s appeal ITANo

Bench: Shri Mahavir Prasad & Shri Manish Boradvirtual Hearing Assessment Year: 2013-14

54F. (1) Subject to the provisions of sub-section (4), where, in the case of an assessee being an individual or a Hindu undivided family, the capital gain

IMRAN KHAN,BHOPAL vs. THE ITO2 (2), BHYOPAL

In the result the issue No

Bench: Shri Vijay Pal Rao & Shri Manish Boradimran Khan Ito 2(2) S/O Sh. Gulab Khan H. No.35 Bhopal Village-Inayatpura Kolar Board, Vs. Bhopal (Appellant / Assessee) (Respondent/ Revenue) Pan: Ckqpk5708M Assessee By Shri Niranjan Purandar Ar Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 02.01.2023 Date Of Pronouncement 11.01.2024

capital gains are concerned. The word "assessee"- must be given wide and liberal interpretation so as to include his legal heirs also. There is no warrant for giving too strict an interpretation to the word "assessee" as that would frustrate the object of granting exemption. I1. We also find judgments of other. High Courts giving benefit of Section 54F

ACIT CENTRAL-2 INDORE, INDORE vs. SHRI .GAURAV TEKRIWAL, INDORE

In the result, this appeal of Revenue is dismissed

Bench: Ms. Madhumita Roy & Shri B.M. Biyani(Conducted Through Virtual Court) Assessment Year: 2015-16 Acit, Central -2 Shri Gaurav Tekriwal Indore बनाम/ 204, Princess Valley, South Tukoganj, Indore Vs. (Appellant / Revenue) (Respondent / Revenue) Pan: Acppt 1628 Q Assessee By Shri Anil Kamal Garg, Arpit Gaur, Ars Revenue By Shri P.K. Mitra, Cit-Dr Date Of Hearing 21.09.2022 Date Of Pronouncement 21.11.2022

capital gain under Section 54F of the Act. It was, rejected by the ITO as also by the Tribunal. This Court observed that substantial investment was made in construction of the house. In view of the requirement of Section 54F of the Act, the Tribunal, in the facts and circumstances of the case, was not justified. We are fortified

SATYANARAYAN SHARMA,INDORE vs. PRINCIPAL COMMISSIONER OF INCOME TAX-I, INDORE

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

Bench: Shri Kul Bharat & Shri Manish Boradassessment Year:2013-14

section 54F, which was not correct. AO was only to allow proportionate amount of money actually invested Rs.63,79,000/-) to the long term capital gain i.e. Rs.1,22,28,892/-. The allowable deduction would be {1

SHRI KAILASH BHAGWAN CHOUDHARY,INDORE vs. THE ITO 2(3), INDORE

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

Bench: Shri Kul Bharat & Shri Manish Boradassessment Year: 2011-12

capital gains are concerned. The word "assessee"- must be given wide and liberal interpretation so as to include his legal heirs also. There is no warrant for giving too strict an interpretation to the word "assessee" as that would frustrate the object of granting exemption. I1. We also find judgments of other. High Courts giving benefit of Section 54F

SMT SHILPA DESAI ,INDORE vs. THE PR CIT -1, INDORE

In the result, the assessee’s appeal i

Bench: Shri Mahavir Prasad & Shri Manish Borad(Virtual Hearing) Assessment Year: 2015-16 Smt. Shilpa Desai, Indore Pan – Abzpd 4926 A … Appellant Vs. Pcit-I, Indore … Respondent

54F Rs. 19695000 10113792 Restricted to Net Capital Gain from Shares (B) 35750372 Total Capital Gain Offered for Tax 35750372 4 Shilpa Desai ITA 112 of 2021 (A +B) 3. The case of the assessee for the year under consideration was selected for limited scrutiny for following reason: S. No Reason for selection of case in scrutiny 1 Large Long

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

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

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

capital gain scheme account before filing return of income and as such not fulfilled the condition as provided 54F(4) of the Act. (b) Allowing deduction u/s 54F as the assessee has already own two houses as such the assessee is not eligible for deduction as per proviso (a)(i) of section 54F(1

SHRI SURESH AGRAWAL,INDORE vs. THE ITO -5(3), INDORE

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

Bench: Shri D.T. Garasia & Shri O.P. Meena

capital gain on the sale of land used for agriculture purpose should be deposited before the date of furnishing the return of the income u/s 139. Section 139 cannot mean only section 139(1) but it means all sub-sections of section 139. In support of this proposition the Ld. AR placed reliance in the case of Ashok Kapasiawala

SHRI DINESH NIGAM,INDORE vs. INCOME TAX OFFICER 2 (3), INDORE, INDORE

In the result, the appeal of the assessee is partly

Bench: Shri Kul Bharat & Shri Manish Boradassessment Year: 2013-14

54F of the Act, even if the investments have been made jointly with other brothers? Alternatively, whether the assessee would be entitled for deduction u/s 54B of the Act in respect of the entire sale proceeds invested jointly with [ITA No.457/Ind/2017] [Mr. Dinesh Nigam, Indore] other brothers? For the sake of clarity, section 54B of the Act is reproduced

SHRI BHAWANI SHANKAR PARASHAR,INDORE vs. THE DCIT/ACIT 1 (2), INDORE

In the result, appeal of assessee is allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanishri Bhawani Shankar Pr. Cit-1 Prashar Indore 28, Lasudia Mori, Vijay Vs. Nagar, Indore (Appellant / Assessee) (Respondent/ Revenue) Pan: Bgbpp 2475 G Assessee By Shri S.N. Agrawal, Ar Revenue By Shri P.K. Mishra, Cit-Dr Date Of Hearing 02.05.2023 Date Of Pronouncement 21.06.2023

capital gain in one year only more so when the amount was actually received by the appellant in five years. 6. That on the facts and in the circumstances of the case and in law the Ld Assessing officer erred in not allowing proper deduction under section 548 and 54F of the Act on the basis of investment as made

SHRI SUKHRAM MUKATI,INDORE vs. THE ITO WD-3(3), INDORE

In the result, the appeal of Shri Sukhram Mukati and

Bench: Shri C.M.Garg & Shri O.P.Meenaआ.अ.सं./I.T.A No.409&410/Ind/2014 "नधा"रण वष"/Assessment Year : 2008-09

1,16,500. There was an AIR information received by the AO showing that the assessee had made cash deposits of Rs.68,30,000 in his bank account with SBI Indore. Hence, case was selected under scrutiny. During the assessment year under consideration, the assessee has sold his ancestral agricultural land (held for more than 30 years) admeasuring 0.506 hectares

SEWA SAHKARI SAMMITTEE MARYADIT,BEED, MUNDI KHANDWA vs. PCIT-1, INDORE

In the result, appeal by the assesse is allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanisewa Sahkari Sammittee Pr. Cit-2 Maryadit Beed Indore Vs. Beed Mundi Khandwa (Appellant / Assessee) (Revenue) Pan: Aaufs0703N Assessee By Shri Gagan Tiwari, Ar Revenue By Ms. Simran Bhullar, Cit-Dr Date Of Hearing 05.10.2023 Date Of Pronouncement 30.10.2023

Capital Gains. Both these issues are inter-connected as the deduction under section 54F was claimed by the assessee in respect of purchase of property and construction of residential house on the said land. The AO, thereafter issued notice under section 142(1

SHRI VINOD CHOUDHARY,INDORE vs. ITO1 3), INDORE

The appeal of the assessee is allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanishri Vinod Choudhary, Ito 1(3) 12, Niranjanpur, Indore Vs. Lasudia, Indore (Appellant / Assessee) (Respondent/ Revenue) Pan: Akrpv 4892 Q Assessee By Shri Pankaj Shah & Soumya Bomb, Ars Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 27.02.2023 Date Of Pronouncement 28.02.2023

1,07,93,900/- was made resulting into a tax demand of Rs. 39,86,910/-. The Ld. A.R. submitted that the Assessing Officer erred in determining the Long Term Capital Gain from sale of urban agricultural land in A.Y. 2012-13 without appreciating the fact that the Long Term Capital Gain had accrued to the assessee

M/S ROCKBED RENOVATORS LTD.,BHOPAL vs. THE PCIT-1, BHOPAL

In the result, the appeal of the assessee is allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanirockbed Renovators Ltd. Pr. Cit-1 7-A, Panjabi Bagh Raisen Road Bhopal Govindpura Vs. Bhopal (Appellant / Assessee) (Respondent/ Revenue) Pan: Aaacr7151G Assessee By Shri Gagan Tiwari Ar Revenue By Ms. Ila Parmar, Cit- Dr Date Of Hearing 10.06.2024 Date Of Pronouncement 12.06.2024

Capital Gains. Both these issues are inter-connected as the deduction under section 54F was claimed by the assessee in respect of purchase of property and construction of residential house on the said land. The AO, thereafter issued notice under section 142(1

MAA NARMADA AGROTECH AND INFRASTURES LTD,INDORE vs. THE PCIT-1 , INDORE

In the result, appeal of assessee is allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanimaa Narmada Agrotech & Pcit Infrastructures Limited Indore -1 Ug-47, Trade Centre, Vs. Kanchan Bagh Main Road, Indore (Appellant / Assessee) (Respondent/ Revenue) Pan: Aafcm6285 P Assessee By Shri S.N. Goyal & Shri Pranay Goyal, Ars Revenue By Shri P.K. Mishra, Cit-Dr Date Of Hearing 31.05.2023 Date Of Pronouncement 11.07.2023

Capital Gains. Both these issues are inter-connected as the deduction under section 54F was claimed by the assessee in respect of purchase of property and construction of residential house on the said land. The AO, thereafter issued notice under section 142(1