KIRAN YADAV,JAIPUR vs. INCOME TAX OFFICER, WARD-1(3), JAIPUR, JAIPUR

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

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

section 50C to his notice. Further in the show cause notice proposed computation of capital gain was given. The assessee has requested for personal hearing on VC. However in the show cause notice it was clearly mentioned asunder: If required, after filing written reply you may request for personal hearing so as to make oral submissions or present your case

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-6, JAIPUR vs. SHRI RAVINDRA MITTAL, JAIPUR

In the result, appeal of the Revenue is dismissed and the cross objection of the assessee is allowed for statistical purposes

Bench: Shri Sandeep Gosain, Jm & Shri Vikram Singh Yadav, Am Vk;Dj Vihy La-@Ita No. 823/Jp/2019 Fu/Kzkj.K O"Kz@Assessment Year :2012-13 D.C.I.T., Cuke Shri Ravindra Mittal, Vs. Circle-6, 804, Akshat Niley Apartment, Jaipur. Hawa Sarak, Civil Lines, Jaipur. Lfkk;H Ys[Kk La-@Thvkbzvkj La-@Pan/Gir No.: Aexpm 9057 N Vihykfkhz@Appellant Izr;Fkhz@Respondent

2,38,996/-. He claimed deduction of Rs. 14,00,000/- under section 54EC on account of investment in bonds. 7 ITA 823/JP/2019 & CO 29/JP/2019_ DCIT Vs Ravindra Mittal Thereafter, the assessee revised the return of income and offered long term capital gain of Rs. 5,23,66,528/- and short term capital gain of Rs. 13,11,857/- arising

RAM SHRAN KATTA, 257, KATTA STREET, JAIN MANDIR WALI GALI, DURGAPURA, JAIPUR,JAIPUR vs. ITO WARD-6(4), JAIPUR

In the result, the appeals of the assessee are allowed

Capital gains - Special\nprovision for full value of consideration in certain cases (Conditions precedent)\n Assessment year 2006-07 - Whether where an assessee has claimed before Assessing\nOfficer that value of land and building assessed by stamp valuation authority exceeded\nfair market value of property, then in terms of section 50C(2

SHRI BANWARI LAL SHARMA,JAIPUR vs. INCOME TAX OFFICER, WARD-1-5, JAIPUR

In the result, both the appeals filed by the assessee and Revenue are disposed off in light of aforesaid directions

capital gains tax evasion on account of understatement of the consideration. Of course, the law provides, under section 50C(2

INCOME TAX OFFICER, WARD-1-5, JAIPUR vs. SHRI BANWARI LAL SHARMA, JAIPUR

In the result, both the appeals filed by the assessee and Revenue are disposed off in light of aforesaid directions

capital gains tax evasion on account of understatement of the consideration. Of course, the law provides, under section 50C(2

SHRI SATISH CHANDRA KATTA,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, JAIPUR

gains -\nSpecial provision for computation of full value consideration (Reference to\nValuation Officer) - Assessment year 2007-08 - Whether where assessee made\nan objection with regard to adoption of market value under section 50C(1),\nAssessing Officer should have referred valuation of capital asset to Valuation\nOfficer under section 50C(2

RAM SHARAN KATTA, 257, KATTA STREET, JAIN MANDIR WALI GALI, DURGAPURA, JAIPUR,JAIPUR vs. ITO WARD-6(4), JAIPUR, WARD-6(4), JAIPUR

In the result, the appeals of the assessee are allowed

2) - Held, yes..\"\nRaj Kumari Agarwal Vs DCIT [2014] 47 taxmann.com 88 (Agra - Trib.)\n“...Head Notes Section 50C of the Income-tax Act, 1961 - Capital gains

SIYARAM EXPORTS INDIA PVT. LTD.,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, JAIPUR

gains\nSpecial provision for computation of full value consideration (Reference to\nValuation Officer) - Assessment year 2007-08 - Whether where assessee made\nan objection with regard to adoption of market value under section 50C(1),\nAssessing Officer should have referred valuation of capital asset to Valuation\nOfficer under section 50C(2

SIYARAM EXPORTS INDIA PRIVATE LIMITED,JAIPUR vs. ITO WARD 6(4), JAIPUR, JAIPUR

gains\nSpecial provision for computation of full value consideration (Reference to\nValuation Officer) - Assessment year 2007-08 - Whether where assessee made\nan objection with regard to adoption of market value under section 50C(1),\nAssessing Officer should have referred valuation of capital asset to Valuation\nOfficer under section 50C(2

SHRI SATISH CHANDRA KATTA,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, JAIPUR

gains\nSpecial provision for computation of full value consideration (Reference to\nValuation Officer) - Assessment year 2007-08 - Whether where assessee made\nan objection with regard to adoption of market value under section 50C(1),\nAssessing Officer should have referred valuation of capital asset to Valuation\nOfficer under section 50C(2

SHRI SATISH CHANDRA KATTA,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, JAIPUR

gains\nSpecial provision for computation of full value consideration (Reference to\nValuation Officer) - Assessment year 2007-08 - Whether where assessee made\nan objection with regard to adoption of market value under section 50C(1),\nAssessing Officer should have referred valuation of capital asset to Valuation\nOfficer under section 50C(2

SIYARAM EXPORTS INDIA PRIVATE LIMITED,JAIPUR vs. ITO WARD 6(4), JAIPUR, JAIPUR

gains\nSpecial provision for computation of full value consideration (Reference to\nValuation Officer) - Assessment year 2007-08 - Whether where assessee made\nan objection with regard to adoption of market value under section 50C(1),\nAssessing Officer should have referred valuation of capital asset to Valuation\nOfficer under section 50C(2

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

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

2, 3 & 4:- The appellant has claimed that the deeming of provision of section 50C has a limited scope only to the extent of and for the purpose of section 48. It is further claimed that the process of arriving at Capital Gains

NARAIN LAL AGRAWAL,JAIPUR vs. DCIT CIRCLE 1 JAIPUR, JAIPUR

In the result the appeal of the assessee is allowed

section 50C.\nGist of the decision is as under:\n11\nITA No. 744/JP/2023\nNarain Lal Agrawal vs. DCIT\nS. 50C: Capital gains-Full value of consideration-Stamp valuation Amendment\nwith effect from 1-4-2017-Statutory amendment is made to remove an undue\nhardship-Amendment retrospective. [S. 45]\nThe assessee entered into an agreement for sale on August

BHARATPUR ROYAL FAMILY RELIGIOUS & CEREMONIAL TRUST,BHARATPUR vs. CIT(E), JAIPUR

In the result, we upheld the order of the ld PCIT in exercise of his powers u/s 263 in setting aside the order so passed by the AO and the grounds of appeal taken by the assessee are hereby dismissed

50C are applicable in respect of the capital gain assessable in the hands of a trust. So far as the exemption available to the Trust in respect of the Capital gain arising from sale of capital asset being property held under Trust, section 11(1A) of the IT Act contemplates the treatment of such income is applicable which reads

NANAG RAM MEENA,JAIPUR vs. ITO WARD 6(4), JAIPUR

In the result, the appeal of the assesee is partly allowed as indicated\nhereinabove

capital gains so computed under\nsection 45 read with section 48 and section 50C of the Act. The decisions\nof the Coordinate Benches as referred supra support the case of the\nassessee. Respectfully following the orders of jurisdictional ITAT, it is held\nthat the appellant shall be eligible for deduction u/s 54F in respect of the\nfull amount invested

SHRI MANOJ KUMAR,JAIPUR vs. INCOME TAX OFFICER, JAIPUR

In the result, the ground of appeal is allowed for statistical purposes

50C, if the value ascertained as mentioned in sub-section (2) exceeds the value adopted, assessed or assessable by the stamp valuation authority, such valuation of the authority would prevail, in other words, for the purpose of capital gains

SHRI SATISH CHANDRA KATTA,JAIPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, JAIPUR

gains\nSpecial provision for computation of full value consideration (Reference to\nValuation Officer) - Assessment year 2007-08 - Whether where assessee made\nan objection with regard to adoption of market value under section 50C(1),\nAssessing Officer should have referred valuation of capital asset to Valuation\nOfficer under section 50C(2