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

Appeals are allowed

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

section 53A.” Therefore, the, agreement to sale in question cannot be relied upon for the transfer u/s 53A of the Transfer of Property Act for the simple reason that the said document, having being executed after 24.09.2001 was not registered under the Registration Act, 1908. The appellant had already transferred the immovable property i.e. plot and had also given vacant

M/S ASHOKA HI-TECH BUILDERS P. LTD.,INDORE vs. THE DCIT (CENTRAL)-1, INDORE

In the result Ground No.1 and 2 of the assessee’s appeal for A

Bench: Shri Kul Bharat & Shri Manish Borad

53A of Transfer of Property Act, 1882 and since, there is no transfer, there is no reason for recognize revenue. In order to examine the argument of the assessee, it would be imperative to examine Sec. 2(47) which reads as under: "(47) "transfer", in relation to a capital asset, includes,- The s a I e exchange or relinquishment

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

53A of the 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

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

53A of the 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

M/S. VAISHALI DEVELOPERS & BUILDERS,BHOPAL vs. THE ITO 1(2), BHOPAL

In the result, the appeal of the assessee is allowed for statistical purpose

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

price for the executing work. A work contract will be awarded on a fixed consideration for doing his work. Thus, the learned Counsel contended that the assessee has not only done construction of houses but also done the construction of roads, took electricity connection , took help of architect , obtained water connection and carry out all the activities of projects. Therefore

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

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

section 53A of the 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

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

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

section 53A of the 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 ACIT, -2(1), BHOPAL vs. M/S. D.K. CONSTRUCTION, BHOPAL

The appeal of the assesse is disposed off in terms of

Bench: Shri Vijay Pal Rao & Shrib.M. Biyani

transfer was made for houses/bungalows. Therefore, the assessee was a mere 'contractor' and not a 'builder/developer'. He submitted that as per provisions of section 80-IB(10), the entirety of project including development of infrastructure must be undertaken by assessee. According to Ld. DR, 'entire project' would mean development as a cohesive unit which includes the construction of houses with

THE ACIT, 2(1), BHOPAL vs. M/S. D.K. CONSTRUCTION, BHOPAL

Bench: Shri Vijay Pal Rao & Shrib.M. Biyani

transfer was made for houses/bungalows. Therefore, the assessee was a mere ‘contractor’ and not a ‘builder/developer’. He submitted that as per provisions of section 80-IB(10), the entirety of project including development of infrastructure must be undertaken by assessee. According to Ld. DR, ‘entire project’ would mean development as a cohesive unit which includes the construction of houses with

THE ACIT, 2(1), BHOPAL vs. M/S. D.K. CONSTRUCTION, BHOPAL

Bench: Shri Vijay Pal Rao & Shrib.M. Biyani

transfer was made for houses/bungalows. Therefore, the assessee was a mere ‘contractor’ and not a ‘builder/developer’. He submitted that as per provisions of section 80-IB(10), the entirety of project including development of infrastructure must be undertaken by assessee. According to Ld. DR, ‘entire project’ would mean development as a cohesive unit which includes the construction of houses with