HASSANAND KHEMLANI,INDORE vs. THE PCIT-1 ,INDORE, INDORE

Bench: Ms. Madhumita Roy & Shri Bhagirath Mal Biyani

transfer and acquisition of house property alongwith land pertinent thereto. Further that, the property was exchanged at Rs.7,64,60,000/-, the value adopted by the Stamp Duty Authority taking full value of consideration for both the cases. As the property was not exchanged below the value adopted by the Stamp Valuation Authority, the question of taxation in respect

COMPUTER SCIENCES CORPORATION INDIA PRIVATE LIMITED,CHENNAI vs. ACIT, CHENNAI

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaniassessment Year: 2007-08 Computer Sciences Acit, Corporation India Private Company Circle 1(3), Limited, Chennai [Formerly Covansys (India) Private Limited], बनाम/ Unit 13, Block 2, Sdf Buildings, Vs. Madras Export Processing Zone, Tambaram, Chennai (Assessee / Appellant) (Revenue / Respondent) Pan: Aaacc1351M Assessee By Shri Neeraj Jain, Adv. Shri Abhishek Agrawal, Ca Revenue By Shri P.K. Mishra, Cit Dr Date Of Hearing 12.07.2023 Date Of Pronouncement

Transfer Pricing Regulations talk of individual transactions to be benchmarked. He submitted that the assessee made claim of ‘entity-level’ comparison before DRP also, but the DRP has over-ruled assessee’s claim with reasoning. Referring to Page 10 and 11 of DRP order, Ld. DR emphasized the reasoning given by DRP, Page 19 of 47 Computer Sciences Corporation India

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

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

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

property is to be purchased out of the consideration received on account of transfer of the capital asset. The ld. CIT(A) noted that undoubtedly, the receipt of on-money is on account of sale of land which is a capital asset and as the appellant has invested in a residential house within a period of one year before

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

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

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

property is to be purchased out of the consideration received on account of transfer of the capital asset. The ld. CIT(A) noted that undoubtedly, the receipt of on-money is on account of sale of land which is a capital asset and as the appellant has invested in a residential house within a period of one year before

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

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

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

property is to be purchased out of the consideration received on account of transfer of the capital asset. The ld. CIT(A) noted that undoubtedly, the receipt of on-money is on account of sale of land which is a capital asset and as the appellant has invested in a residential house within a period of one year before

VAISHALI DEVELOPERS AND BUILDERS ,BHOPAL vs. INCOME TAX OFFICER -1(2), BHOPAL

Appeals are allowed

Bench: Shri B.M. Biyani & Shri Udayan Das Gupta

transferred the immovable property i.e. plot and had also given vacant possession of the same to the customer as mentioned in sale-deed registered. Thereafter, the appellant had acted only as a contractor for the work of construction of the residential units. Thus, the appellant was not eligible for deduction u/s 80-IB(10). In this regard, reference

VAISHALI DEVELOPERS ANDBUILDERS,BHOPAL vs. INCOME TAX OFFICER 1 (2), BHOPAL

Appeals are allowed

Property Act for the simple reason that the said\ndocument, having being executed after 24.09.2001 was not registered under the\nRegistration Act, 1908. The appellant had already transferred the immovable\nproperty i.e. plot and had also given vacant possession of the same to the\ncustomer as mentioned in sale-deed registered. Thereafter, the appellant had\nacted only as a contractor

HARPREET KAUR,BHOPAL vs. INCOME-TAX OFFICER, 5(2), BHOPAL, BHOPAL

Appeal is allowed in terms mentioned above

house\nproperty to one Shri V.D. Maru for a price of Rs.5,00,000. Out of this, the sale\ndeed was signed for a consideration of Rs.1,00,000 on December 17, 1984,\nbetween the assessee and Shri Maru in the presence of one Shri L. P. Patil.\nOut of the sale price of Rs.1,00,000, an amount

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

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 in the above view by the decision of the Delhi High Court in Balmj v. CIT to the effect that for the purpose of attracting the provision, it was not necessary that

SHRI RAM BABU SINGH,INDORE vs. DCIT 1(1), BHOPAL

In the result appeal of the assessee is dismissed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanishri Ram Babu Singh, Dcit-1(1) C/O Sv Agrawal & Associates, Bhopal Dadi Dham, 24, Joy Builders Colony, Vs. Near Rafael Tower, Old Palasia, Indore (Appellant / Assessee) (Respondent/ Revenue) Pan: Aelps9945K Assessee By S/Shri Ashish Goyal & N.D. Patwa, Ars Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 15.05.2024 & 03.07.2024 Date Of Pronouncement 23 .07.2024

Transfer of Property act. It is also admitted fact that the appellant had not got any document registered for the sale of a residential unit. Thus, the appellant had not earned income on account of sale of residential unit as envisaged in section 801B(10) because the Page 8 of 14 ITANo.328/Ind/2023 Ram Babu Singh appellant after selling the plots

M/S. BRIDGESTONE INDIA PVT. LTD.,PUNE vs. THE ACIT NFAC, DELHI

In the result, appeal of assessee is partly allowed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyanibridgestone India Pvt. Ltd. Acit (Nfac) Plot No.A-43, Phase-Ii, Delhi Midc Chakan, Village Vs. Sawardari, Taluka Khed, Pune (Appellant / Assessee) (Respondent/ Revenue) Pan: Aabcb 2304 E Assessee By Shri Sukhsagar Syal, Ar Revenue By Shri P.K. Mishra, Cit-Dr Date Of Hearing 23.05.2023 Date Of Pronouncement 17.07.2023

transfer pricing documentation and economic analysis has passed an order dated 30.10.2018 under Section 92CA(3) of the Act determining the "Arm's Length Price" difference of Rs. 41,57,14,9471- in respect of royalty payment of its AE and Rs. 39,63,921/- in respect of international transactions relating to trading activities of the assessee. Thus, total upward

AG-8 VENTURES LTD.,BHOPAL vs. ACIT, CENTRAL-1, BHOPAL

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Borad

Transfer of Property Act, 1882. 29.6 In view of the discussion, it is clear that the assessee has not derived profit from development and construction of housing project. Hon’ble ITAT, Indore Bench, Indore in the case of Sky Builders and Developers vs ITO 1(1), Bhopal (2011) 14 taxmann.com 78 has decided that where the assessee has sold plots

AG-8 VENTURES LTD.,BHOPAL vs. ACIT, CENTRAL-1, BHOPAL

Bench: Hon'Ble Kul Bharat & Hon'Ble Manish Borad

Transfer of Property Act, 1882. 29.6 In view of the discussion, it is clear that the assessee has not derived profit from development and construction of housing project. Hon’ble ITAT, Indore Bench, Indore in the case of Sky Builders and Developers vs ITO 1(1), Bhopal (2011) 14 taxmann.com 78 has decided that where the assessee has sold plots

M/S. COMPUTER SCIENCE CORPORATION INDIA PVT. LTD.,CHENNAI vs. DEPUTY COMMISSIONER OF INCOME TAX-CIRCLE 2(1) , INDORE

In the result, all the three appeals are partly allowed for statistical purpose and the Stay Application is also disposed of

Bench: Ms. Suchitra Kamble & Shri Bhagirath Mal Biyani

Transfer Pricing Officer has followed the well searched formula and the data that simple year should have been taken into account. The Ld. DR submitted that the TPO has taken cognisance of the depreciation adjustment and relied upon the order of the TPO and the Assessing Officer. 11. We have heard both the parties and perused all the relevant material

M/S. COMPUTER SCIENCES CORPORATION INDIA PRIVATE LIMITED,INDORE vs. THE ASST. COMMISSIONER OF INCOME TAX-2(1), INDORE

In the result, all the three appeals are partly allowed for statistical purpose and the Stay Application is also disposed of

Bench: Ms. Suchitra Kamble & Shri Bhagirath Mal Biyani

Transfer Pricing Officer has followed the well searched formula and the data that simple year should have been taken into account. The Ld. DR submitted that the TPO has taken cognisance of the depreciation adjustment and relied upon the order of the TPO and the Assessing Officer. 11. We have heard both the parties and perused all the relevant material

M/S. COMPUTER SCIENCE CORPORATION INDIA PVT. LTD.,CHENNAI vs. THE ACIT-CIRCLE 2(1), INDORE

In the result, all the three appeals are partly allowed for statistical purpose and the Stay Application is also disposed of

Bench: Ms. Suchitra Kamble & Shri Bhagirath Mal Biyani

Transfer Pricing Officer has followed the well searched formula and the data that simple year should have been taken into account. The Ld. DR submitted that the TPO has taken cognisance of the depreciation adjustment and relied upon the order of the TPO and the Assessing Officer. 11. We have heard both the parties and perused all the relevant material

DILIP CHANDRASENRO MAHADIK,INDORE vs. THE PR CIT -2 INDORE, INDORE

Appeal is dismissed

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaniassessment Year: 2015-16 Shri Dilip Chandrasenrao Pr.Cit-2, Mahadik, Indore. बनाम/ 479, Kalani Nagar, Vs. Indore (Assessee / Appellant) (Revenue / Respondent) Pan: Abwpm3141M Assessee By S/Shri Rajnish Vohra, Chetan Khandelwal & Nitesh Dawira, Ld. Ars Revenue By Shri P.K. Mishra, Cit Dr Date Of Hearing 24.05.2023 Date Of Pronouncement 17.08.2023

House property u/s 54 Rs. 84,21,000/- (65,00,000/- plus 19,21,000) 7,00,000/- (Round off) cost of Repair” [Emphasis added] 5. However, the PCIT was not satisfied with the reply of assessee for the reasons mentioned by him in revision-order as under: “4. I have carefully considered the facts of the case, the assessment

M/S BALAJEE STERLING BUILDER,BHOPAL vs. THE DCIT-1(1), BHOPAL

In the result, both of the appeals of assessee are allowed

Bench: Ms. Madhumita Roy & Shri B.M. Biyani

Transfer of Property Act, the appellant firm was clearly the owner of the land. Hence the assessing officer erred in her belief that the appellant firm was not the owner of the land. (Copy of the agreement dated 30.11.2006 is enclosed as Annexure 1). Be that as it may, it is submitted that the provisions of section 80IB