INDIRA GIRI,JAIPUR vs. ASSESSING OFFICER, INCOME TAX DEPARMENT JAIPUR

The appeal of the assessee is allowed

Bench: The Due Date Of Furnishing Itr, Therefore Deposit In Capital Gain Account For Compliance U/S 54(2) Was Impossible On The Part Of The Assessee.

capital gain account scheme. The AO restricted the claim of investment in house property u/s 54F to Rs 28,00,000 only, as against claim made of Rs. 1,08,22,354/- and the deduction u/s 54F was recomputed proportionally as per provision of section 54F (1)b of the Income Tax Act. 5.1.1. In the computation of income

DCIT,C-7, JAIPUR vs. BHARAT MOHAN RATURI, JAIPUR

In the result, the appeal of the Department is dismissed and that of the C

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;djvihy la-@ITA No. 413/JP/2022 fu/kZkj.ko"kZ@AssessmentYear :2013-14 The DCIT Circle-7 Jaipur cuke Vs. Shri Bharat Mohan Raturi 161, Indira Colony, Bani Park Jaipur 302 015 (Raj) LFkk;hys[kk la-@thvkbZvkj la-@PAN/GIR No.: AANPR 7066G vihykFkhZ@Appellant izR;FkhZ@Respondent CO No. 2/JP/2023 (Arising out of vk;djvihy la-@ITA No. 413/JP/2022 ) fu/kZkj.ko"kZ@AssessmentYear :2013-14 Shri Bharat Mohan Raturi 161, Indira

Capital gains - Exemption of, in case of investment in residential house (Ownership of more than one house) - Assessment year 2013-14 - Whether where a residential property is jointly owned by two persons 20 DCIT, CIRCLE-7, JAIPUR VS BHARAT MOHAN RATURI that would not preclude an assessee from claiming exemption under section 54F, as assessee would

FEDERATION OF RAJASTHAN TRADE AND INDUSTRY,JAIPUR vs. ITO-EXEMPTION WARD-2, JAIPUR

In the result, the appeal filed by the assessee is allowed for statistical purposes

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

section 71 of the Act, where there is no income under the head capital gain, set off against his income is not allowed. Here, the capital gain was calculated by the AO to the tune of Rs.57,50

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

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

gain arising from transfer for a capital asset by a person to a firm by way of capital contribution would be treated to be a transfer for the purpose of sec. 48 of IT Act and the amount recorded in the books of accounts shall be deemed to the full value of consideration for such transfer of capital asset. However

PRADEEP VATRANA,ALWAR vs. DCIT, ALWAR

In the result, the appeal filed by the assessee is allowed for statistical purposes

50% of the same property by the Essorpe Holdings Pvt. Ltd., to an extent of 5.075 acres of land for the assessment year 2009-10, directing the Assessing Officer to apply the provisions of Section 45(2) of the Act and compute the capital gains

UDAI SINGH RATHORE,JAIPUR vs. ITO, JAIPUR

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

Bench: Or At The Time Of Hearing.”

capital gains. The Hon’ble Supreme Court has further observed that it is possible to say that the cost of acquisition as mentioned in section 48 implies a date of acquisition, and that inference is strengthened by the provisions of sub-section 49 and 50

BIRENDRA SINGH NIRBHAY,SIRSI ROAD JAIPUR RAJASTHAN vs. ITO WARD 3(1) JAIPUR, NCRB INCOME TAX DEPARTMENT STATUE CIRCLE JAIPUR RAJASTHAN

In the result, the appeal of the assessee is allowed

section 68 of the IT act by treating the Long Term Capital Gain on sale of\nshares as unexplained cash credit. The addition of Rs.1,51,869/- being the\ndeemed commission for taking the accommodation entry, is consequential to the\nmain issue. Hence, the same is also not sustainable”.\n4. Shri Vivek Agarwal vs. ITO (2017) 292/JP/2017 (ITAT Jaipur) Order

MAHAVEER YADAV,JAIPUR vs. ITO, JAIPUR

In the result, the appeal of the assessee is partly allowed for statistical purposes

50% of the same property by the Essorpe Holdings Pvt. Ltd., to an extent of 5.075 acres of land for the assessment year 2009-10, directing the Assessing Officer to apply the provisions of Section 45(2) of the Act and compute the capital gains

SHRI GULAB CHAND MEENA,JAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX (OSD) , JAIPUR

In the result, appeal of the assessee is allowed

Bench: Shri Sandeep Gosain, Jm & Shri Vikram Singh Yadav, Am Vk;Dj Vihy La-@Ita No. 49/Jp/2018 Fu/Kzkj.K O"Kz@Assessment Year :2011-12 Cuke Shri Gulab Chand Meena, A.C.I.T.(Osd), Vs. Village- Dantali, Tehsil- Range-7, Sanganer, Jaipur. Jaipur. Lfkk;H Ys[Kk La-@Thvkbzvkj La-@Pan/Gir No.: Abupm 2026 R Vihykfkhz@Appellant Izr;Fkhz@Respondent Fu/Kzkfjrh Dh Vksj Ls@ Assessee By : Shri Manish Agarwal (Ca) Jktlo Dh Vksj Ls@ Revenue By : Smt. Monisha Choudhary (Addl.Cit) Lquokbz Dh Rkjh[K@ Date Of Hearing : 11/01/2021 Mn?Kks"K.Kk Dh Rkjh[K@ Date Of Pronouncement : 28/01/2021 Vkns'K@ Order Per: Sandeep Gosain, J.M. This Is An Appeal Filed By The Assessee Against The Order Of Ld.Cit(A)- 3, Jaipur Dated 06/12/2017 For The A.Y. 2011-12 In The Matter Of Order Passed U/S 143(3) Read With Section 147 Of The Income Tax Act, 1961 (In Short, The Act), Wherein Following Grounds Have Been Taken. “1. On The Facts & The Circumstances Of The Case The Ld. Cit(A) Erred In Confirming The Disallowance Of Deduction U/S 54F Of Rs. 5,78,571/- Made By Ld.Ao Arbitrarily & Accordingly Treating It As A Long Term Capital Gain When All The Conditions Prescribed U/S 54F Were Fulfilled By Assessee. 1.1. That The Ld. Cit(A) Has Further Erred In Not Considering The Fact That Assessee Had Submitted The Valuation Report In Support Of His Claim Of 2

Section 147 of the Income Tax Act, 1961 (in short, the Act), wherein following grounds have been taken. “1. On the facts and the circumstances of the case the Ld. CIT(A) erred in confirming the disallowance of deduction u/s 54F of Rs. 5,78,571/- made by ld.AO arbitrarily and accordingly treating it as a long term capital gain

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

In the result, appeal of the assessee is allowed

section 50 provides for computation of income chargeable under the head "Capital gains" whereas, section 45 is the charging section

LAL CHAND MEENA,JAIPUR vs. ITO WD 5(2), JAIPUR

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

50,00,000/-, the stamp value of which was Rs. 85,99,470/-, and since return was not filed by the assessee, the taxability of capital gain could not be ascertained. The assessee then duly filed his ITR u/s 147 of the Act on 30/10/2015 declaring a capital gain of Rs. 3,17,448/- after claiming the cost of acquisition

SMT. RENU JAIN,NEW DELHI vs. ITO, WARD 5(2), JAIPUR

In the result, the matter is decided in favour of the assessee and against the Revenue and the sole ground of appeal is allowed

50,000/- under capital gain account scheme on 03.12.2011 after due date of filing of return of income i.e, 31.07.2011, therefore, the income of the assessee has escaped assessment within the meaning of section

SITA DEVI AGARWAL,JAIPUR vs. ITO, WD-4(1), JAIPUR

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

50% scripts prices does not based on their worth Therefore the high prices of any script in market cannot be deemed as involved in scam of penny stock scripts. 11 SMT SITA DEVI AGARWAL VS ITO, WARD 4(1), JAIPUR 6. That the assessee does regular working in share market for last 10 years and one of company script Sunrise

RAM LAL SHARMA,JAIPUR vs. ITO, JAIPUR

In the result, assessee’s appeals are partly allowed for statistical purposes

capital gains. The Hon’ble Supreme Court has further observed that it is possible to say that the cost of acquisition as mentioned in section 48 implies a date of acquisition, and that inference is 12 ITA 522 To 528/JP/17_ Ram Lal Sharma and others Vs. ITO strengthened by the provisions of sub-section 49 and 50

SHRI GOPI RAM SHARMA,JAIPUR vs. INCOME TAX OFFICER, WARD-7-4, JAIPUR

In the result, assessee’s appeals are partly allowed for statistical purposes

capital gains. The Hon’ble Supreme Court has further observed that it is possible to say that the cost of acquisition as mentioned in section 48 implies a date of acquisition, and that inference is strengthened by the provisions of sub-section 49 and 50

ACIT, KOTA vs. SMT. ZAHIDA BANO, KOTA

In the result, the Revenue appeal is dismissed

50% of the consideration during the year under consideration then, as per the provisions of Section 2(47) (v) of the Income Tax Act the transfer is completed and long term capital gain

SHRI ARNAV GOYAL,JAIPUR vs. ITO, WARD-2(4), JAIPUR

In the result, the appeal of the assessee is allowed

Bench: Hon’ble SHRI SANDEEP GOSAIN (Judicial Member)

section 10(38) for holding the profit from the sale of shares as exempt have duly been fulfilled by the assessee, thus in no circumstances it could be held as bogus or sham transaction more particularly when no corroborative evidence was brought on record by the department to hold that assessee had introduced his undisclosed income in the garb

SHRI VIJAY KUMAR,JAIPUR vs. INCOME TAX OFFICER, WARD-4-1, JAIPUR

In the result, the ground of appeal is allowed

sections 2(42A), 47(ii), 48, 49(1) and 55(2)(b)(ii) are cumulatively and harmoniously read, then in case of succession, the date of acquisition, cost of acquisition and period of holding is to be computed with reference to the acquisition of capital asset by the previous owner. If only for the purpose of computing indexed cost