LAL CHAND MEENA ,JAIPUR vs. ITO, WARD 7-3, JAIPUR

In the result, the appeal of the assessee is partly allowed

capital gain liability can be fastened on the partners in AY 2008-09. If the date of execution of sale deed is considered as date of transfer, section 2(47)(v)/(vi

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2, KOTA, KOTA vs. CHAMBAL FERTILIZERS AND CHEMICALS LTD, KOTA

Bench: SHRI GAGAN GOYAL (Accountant Member), SHRI NARINDER KUMAR (Judicial Member)

vi) of the Act, any transfer of a capital asset, upon merger, by the amalgamating company to the amalgamated company is not taxable in the hands of amalgamating company, if the amalgamated company is an Indian company Exemption from capital gains tax in the hands of the shareholders of amalgamating company  Further, per Section 47

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2, KOTA, KOTA vs. CHAMBAL FERTILIZERS AND CHEMICALS LTD., KOTA

Bench: SHRI GAGAN GOYAL (Accountant Member), SHRI NARINDER KUMAR (Judicial Member)

vi) of the Act, any transfer of a capital asset, upon merger, by the amalgamating company to the amalgamated company is not taxable in the hands of amalgamating company, if the amalgamated company is an Indian company Exemption from capital gains tax in the hands of the shareholders of amalgamating company  Further, per Section 47

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2, KOTA, KOTA vs. CHAMBAL FERTILIZERS AND CHEMICALS LTD, KOTA

Bench: SHRI GAGAN GOYAL (Accountant Member), SHRI NARINDER KUMAR (Judicial Member)

vi) of the Act, any transfer of a capital asset, upon merger, by the amalgamating company to the amalgamated company is not taxable in the hands of amalgamating company, if the amalgamated company is an Indian company Exemption from capital gains tax in the hands of the shareholders of amalgamating company  Further, per Section 47

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2, KOTA, KOTA vs. CHAMBAL FERTILIZERS AND CHEMICALS LTD, KOTA

2(47) \"transfer, in relation to a capital asset,\nincludes,-\n1. The sale, exchange or relinquishment of the asset; or\n2. The extinguishment of any rights therein, or\n3. The compulsory acquisition thereof under any law; or (iv)....\nThus, upon merger of CFCL Technologies into CFCL Ventures, CFCL's\ninvestment in shares of CFCL Technologies will be extinguished and\nsimultaneously

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2, KOTA, KOTA vs. CHAMBAL FERTILIZERS AND CHEMICALS LTD., KOTA

2(47) \"transfer, in relation to a capital asset,\nincludes,-\n1. The sale, exchange or relinquishment of the asset; or\n2. The extinguishment of any rights therein, or\n3. The compulsory acquisition thereof under any law; or (iv)...\".\nThus, upon merger of CFCL Technologies into CFCL Ventures, CFCL's\ninvestment in shares of CFCL Technologies will be extinguished and\nsimultaneously

DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-3, JAIPUR vs. M/S RIGID CONDUCTORS (RAJ.) PVT. LTD., JAIPUR

In the result, the appeals of the revenue stands dismissed

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLEH JAYANTBHAI (Accountant Member)

47) makes it amply clear that compulsory land acquisition is one of the forms of land transfer. Hence, the case is squarely covered under the definition of transfer of capital asset. Also section 45(5) of the I.T.Act, 1961 is related to capital gain in case of compulsory acquisition of land which is applicable in this case. Hence, the assessee

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3, JAIPUR vs. M/S VISION ESTATES PVT. LTD., JAIPUR

In the result, the appeals of the revenue stands dismissed

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLEH JAYANTBHAI (Accountant Member)

47) makes it amply clear that compulsory land acquisition is one of the forms of land transfer. Hence, the case is squarely covered under the definition of transfer of capital asset. Also section 45(5) of the I.T.Act, 1961 is related to capital gain in case of compulsory acquisition of land which is applicable in this case. Hence, the assessee

DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-3, JAIPUR vs. M/S CHOKHI DHANI DEVELOPERS PVT. LTD., JAIPUR

In the result, the appeals of the revenue stands dismissed

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLEH JAYANTBHAI (Accountant Member)

47) makes it amply clear that compulsory land acquisition is one of the forms of land transfer. Hence, the case is squarely covered under the definition of transfer of capital asset. Also section 45(5) of the I.T.Act, 1961 is related to capital gain in case of compulsory acquisition of land which is applicable in this case. Hence, the assessee

DEPUTY COMMISSINER OF INCOME TAX, LIC BUILDING vs. M/S GEE VEE DEVELOPERS PVT. LTD., JAIPUR

In the result, the appeals of the revenue stands dismissed

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLEH JAYANTBHAI (Accountant Member)

47) makes it amply clear that compulsory land acquisition is one of the forms of land transfer. Hence, the case is squarely covered under the definition of transfer of capital asset. Also section 45(5) of the I.T.Act, 1961 is related to capital gain in case of compulsory acquisition of land which is applicable in this case. Hence, the assessee

ACIT(EXEMPTION), JAIPUR vs. MAHIMA SHIKSHA SAMITI, JAIPUR

In the result, all the grounds taken by the Revenue are dismissed and ground taken by the assessee society is allowed

gains of business, unless the business is incidental to the attainment of the objectives of the trust or, as the case may be, institution, and separate books of account are maintained by such trust or institution in respect of such business. (5) The forms and modes of investing or depositing the money referred to in clause (b) of sub-section

SHRI DHARMENDRA KUMAR PAREEK,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-2, JAIPUR

In the result, appeal of the assessee is allowed

47,789/-. This has been accepted by the AO. Since assessee has purchased the residential land for Rs.23,41,728/- and Rs.45,00,000/- is deposited in capital gain account scheme, totaling to Rs.68,41,728/-, 5 Shri Dharmendra Kumar Pareek, Jaipur. assessee has rightly claimed deduction u/s 54 to work out capital gain separately on sale of house

THE BANK OF RAJASTHAN EMPLOYEES CREDIT & THIRFT COOPERATIVE SOCIETY LIMITED,JAIPUR vs. ACIT, CIRCLE-1, JAIPUR

In the results appeal of the assessee in ITA No

vi), or sub-\nclause (vii), the rules and bye-laws of the society restrict the voting rights to the following\nclasses of its members, namely:-\n(1) The individuals who contribute their labour or, as the case may be, carry on the\nfishing or allied activities,\n(2) The co-operative credit societies which provide financial assistance to the society

M/S. RAJASTHAN CRICKET ASSOCIATION,JAIPUR vs. ADD.CIT. RANGE-2, JAIPUR

In the result, the matter is decided in favour of the assessee and against the Revenue and the ground of appeal so taken by the assessee society is thus allowed

gains of business, unless the business is incidental to the attainment of the objectives of the trust or, as the case may be institutions and separate Books of accounts are maintained by such trust or institution in respect of such business.Now, coming to the allegation of the Assessing Officer that the major source of income are TV subsidy, sale

INCOME TAX OFFICER (EXEMPTION), WARD-1, JAIPUR vs. RAJASTHAN CRICKET ASSOCIATION, JAIPUR

In the result, the matter is decided in favour of the assessee and against the Revenue and the ground of appeal so taken by the assessee society is thus allowed

gains of business, unless the business is incidental to the attainment of the objectives of the trust or, as the case may be institutions and separate Books of accounts are maintained by such trust or institution in respect of such business.Now, coming to the allegation of the Assessing Officer that the major source of income are TV subsidy, sale

INCOME TAX OFFICER (EXEMPTION), WARD-1, JAIPUR vs. M/S RAJASTHAN CRICEKT ASSOCIATION, JAIPUR

In the result, the matter is decided in favour of the assessee and against the Revenue and the ground of appeal so taken by the assessee society is thus allowed

gains of business, unless the business is incidental to the attainment of the objectives of the trust or, as the case may be institutions and separate Books of accounts are maintained by such trust or institution in respect of such business.Now, coming to the allegation of the Assessing Officer that the major source of income are TV subsidy, sale

INCOME TAX OFFICER (EXEMPTION),WARD, JAIPUR, JAIPUR vs. RAJASTHAN CRICKET ASSOCIATION, JAIPUR

In the result, appeal of the Department is dismissed

Bench: The Hon’Ble Tribunal In The Interest Of Justice.

gains of business, unless the business is incidental to the attainment of the objectives of the trust or, as the case may be institutions and separate Books of accounts are maintained by such trust or institution in respect of such business.Now, coming to the allegation of the Assessing Officer that the major source of income are TV subsidy, sale

INCOME TAX OFFICER, JAIPUR vs. RAJASTHAN CRICKET ASSOCIATION, JAIPUR

In the result, appeal of the Department is dismissed

Bench: The Hon’Ble Tribunal In The Interest Of Justice.

gains of business, unless the business is incidental to the attainment of the objectives of the trust or, as the case may be institutions and separate Books of accounts are maintained by such trust or institution in respect of such business.Now, coming to the allegation of the Assessing Officer that the major source of income are TV subsidy, sale