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5 results for “depreciation”+ Section 54Fclear

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Key Topics

Section 26310Addition to Income5House Property3Unexplained Investment3Section 143(3)2Section 54F2Revision u/s 2632

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

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

ITA 426/IND/2018[2013-14]Status: DisposedITAT Indore28 Dec 2020AY 2013-14

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

Section 143(3)Section 154oSection 2Section 263Section 54F

54F of the IT Act.” a. Assessee submits that the valuation is done by taking the current guideline rate from the office of collector. Fair market value is arrived at after applying the rate of depreciation. [PB 18] b. The Government Approved Valuer personally inspected the property on 15.01.2016 and made the valuation on 15.01.2016 as noted in his valuation

THE ACIT, CENTRAL-2, INDORE vs. SHRI MOHANLAL CHUGH, INDORE

In the result, the appeals of the Revenue for the A

ITA 239/IND/2017[2013-14]Status: DisposedITAT Indore23 Aug 2021AY 2013-14

Bench: Shri Rajpal Yadav Hon'Ble & Shri Manish Borad(Virtual Hearing)

depreciation as the assessee carried out the activities of development of project as an investor and not as a builder. The Ld. CIT(A) further stated that 31 Mohanlal Chugh & others without bringing any corroborative evidence on record the profit of the project cannot be estimated @30%. The Ld. CIT(A) relied upon the decision of Hon’ble Supreme Court

THE ACIT, CENTRAL-2, INDORE vs. SHRI NITESH CHUGH, INDORE

In the result, the appeals of the Revenue for the A

ITA 122/IND/2017[2013-14]Status: DisposedITAT Indore23 Aug 2021AY 2013-14

Bench: Shri Rajpal Yadav Hon'Ble & Shri Manish Borad(Virtual Hearing)

depreciation as the assessee carried out the activities of development of project as an investor and not as a builder. The Ld. CIT(A) further stated that 31 Mohanlal Chugh & others without bringing any corroborative evidence on record the profit of the project cannot be estimated @30%. The Ld. CIT(A) relied upon the decision of Hon’ble Supreme Court

THE ACIT, CENTRAL-2, INDORE vs. M/S. CHUGH REALTY, INDORE

In the result, the appeals of the Revenue for the A

ITA 238/IND/2017[2013-14]Status: DisposedITAT Indore23 Aug 2021AY 2013-14

Bench: Shri Rajpal Yadav Hon'Ble & Shri Manish Borad(Virtual Hearing)

depreciation as the assessee carried out the activities of development of project as an investor and not as a builder. The Ld. CIT(A) further stated that 31 Mohanlal Chugh & others without bringing any corroborative evidence on record the profit of the project cannot be estimated @30%. The Ld. CIT(A) relied upon the decision of Hon’ble Supreme Court

M/S. S.R. FERRO ALLOYS,JHABUA vs. THE PCIT, BHOPAL

In the result, the appeal of assessee is allowed

ITA 148/IND/2021[2015-16]Status: DisposedITAT Indore09 Nov 2023AY 2015-16

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanis.R. Ferro Alloys Pr. Cit, Central 9, Siddheswar Colony Bhopal Vs. Jhabua (Appellant / Assessee) (Revenue) Pan: Abhfs7377Q Appellant By Shri Sumit Nema, Sr. Adv. & Gagan Tiwari, Ar Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 12.10.2023 Date Of Pronouncement 09.11.2023

Section 263

depreciation by the AO in the scrutiny assessment of the lender company would not epso facto lead to the conclusion that the transactions of loan between the lender company and assesse is not genuine. The Pr. CIT has not even verified the balance sheet and bank account statement of the lender company to come to prima facie conclusion that