GURUVENDRA SINGH ,KOTA vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-1, KOTA, KOTA

In the result, appeal of the assessee is allowed

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

55,935 Nil 14784290 41,987 1,47,42,303 NIL 1.7. Against the amount of Capital Gain, assessee claimed benefit of Section

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 as well as sub-section (2) of section 55

RAM LAL SHARMA,JAIPUR vs. ITO, JAIPUR

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

section 55(3) are applicable in this case and the fair market value of the asset as on 01.04.1981 would be the cost of acquisition of land for the purpose of computing capital gain

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)

55 of the Income-tax Act, 1961-Capital gains Cost of acquisition (Valuation report) - Assessment year 2009-10-Assessee's mother-in-law gifted a flat to assessee which she had purchased in year 1970 - During relevant assessment year, assessee sold said flat For purpose of computation of capital gains, assessee relied on provision of section

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)

55,905 by disallowing the above expenses of the development cost is factually and legally incorrect and the same deserves to be deleted summarily, (4) On the facts and in the circumstances of the case, the Id. CIT (A) has factually and legally erred in not appreciating the honest and bona-fide reasons as explained at page no.16

PRADEEP VATRANA,ALWAR vs. DCIT, ALWAR

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

section 45(2). Therefore, FMV of the asset on the date of conversion as reduced by the indexed cost of acquisition and cost of improvement will be assessed under the head capital gain and excess over such FMV can only be brought to tax as business income. 3. The ld DR has vehemently argued the matter and relied upon

MAHAVEER YADAV,JAIPUR vs. ITO, JAIPUR

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

capital gain and excess over such FMV is required to be assessed as business income. The Ld. CIT(A) has not considered the provision of this section and also not allowed the deduction on account of 21 Shri Mahaveer Yadav, Alwar vs. ITO, Ward-1(5) Alwar indexed cost of acquisition and therefore, the entire income assessed

SHRI NARESH JAIN,JAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-3, JAIPUR

In the result, the appeal of the assessee is allowed

gain separately which should be calculated after giving deduction under section 48 to 55 of the Act. 2.4 The relevant provisions of Sections 45(1), 54F and 70 of the Income-tax Act, relevant to the assessment years read as follows:- "45(1) Capital

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

In the result, the ground of appeal is allowed

capital gains in case of inherited assets. It was submitted that where the provisions of sections 2(42A), 47(ii), 48, 49(1) and 55

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)

capital asset within the meaning of section 2(14) of the I.T. Act, 1961. Accordingly capital gain tax is leviable on compulsory acquisition of the land. In this connection it is submitted that the above said finding of the ld. AO was based on the enquiries made from the Tehsildar, Sanganer vide his letter dated 14.11.2019 and 15.11.2019 and also

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)

capital asset within the meaning of section 2(14) of the I.T. Act, 1961. Accordingly capital gain tax is leviable on compulsory acquisition of the land. In this connection it is submitted that the above said finding of the ld. AO was based on the enquiries made from the Tehsildar, Sanganer vide his letter dated 14.11.2019 and 15.11.2019 and also

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)

capital asset within the meaning of section 2(14) of the I.T. Act, 1961. Accordingly capital gain tax is leviable on compulsory acquisition of the land. In this connection it is submitted that the above said finding of the ld. AO was based on the enquiries made from the Tehsildar, Sanganer vide his letter dated 14.11.2019 and 15.11.2019 and also

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)

capital asset within the meaning of section 2(14) of the I.T. Act, 1961. Accordingly capital gain tax is leviable on compulsory acquisition of the land. In this connection it is submitted that the above said finding of the ld. AO was based on the enquiries made from the Tehsildar, Sanganer vide his letter dated 14.11.2019 and 15.11.2019 and also

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3, JAIPUR vs. SMT. SAROJ PARWAL, JAIPUR

capital gain in a short period does not mean that the transaction is bogus as all the documents and evidences have been produced. So unless the assessing officer list out all traders, buyers sellers and their share brokers of the mentioned shares and further links them with the assessee or his share broker or the person who bought the shares

DCIT, C.C. -03, JAIPUR vs. SHRI TEJENDER KUMAR FALOR, JAIPUR

capital gain in a short period does not mean that the transaction is bogus as all the documents and evidences have been produced. So unless the assessing officer list out all traders, buyers sellers and their share brokers of the mentioned shares and further links them with the assessee or his share broker or the person who bought the shares

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3, JAIPUR vs. M/S HARI NARAIN PARWAL, HUF, JAIPUR

capital gain in a short period does not mean that the transaction is bogus as all the documents and evidences have been produced. So unless the assessing officer list out all traders, buyers sellers and their share brokers of the mentioned shares and further links them with the assessee or his share broker or the person who bought the shares

DCIT, CC-3, JAIPUR vs. SMT. JYOTI FALOR, JAIPUR

capital gain in a short period does not mean that the transaction is bogus as all the documents and evidences have been produced. So unless the assessing officer list out all traders, buyers sellers and their share brokers of the mentioned shares and further links them with the assessee or his share broker or the person who bought the shares

ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3, JAIPUR vs. M/S BITTHAL DAS PARWAL, HUF, JAIPUR

capital gain in a short period does not mean that the transaction is bogus as all the documents and evidences have been produced. So unless the assessing officer list out all traders, buyers sellers and their share brokers of the mentioned shares and further links them with the assessee or his share broker or the person who bought the shares