MAHAVEER YADAV,JAIPUR vs. ITO, JAIPUR

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

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 upto to the date of conversion into stock in trade, and thereafter on actual sale of the land

PRADEEP VATRANA,ALWAR vs. DCIT, ALWAR

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

house over a part of the said land was constructed in the year 2003 for the assessee’s own use as well as let out purpose. From the year 1996 to 2005, assessee used the said land for agricultural purpose. Thereafter, he let out the land to a contractor to use for marriage and social functions under the name

SMT RAMA BAJAJ,JAIPUR vs. INCOME TAX OFFICER, WARD-4-2, JAIPUR

In the result, appeal of the assessee is allowed

section 10B.” In view of the above submissions, entire interest expense of Rs. 5,06,678/- may please be allowed under income from house property as well under income from other sources as above.” 4. Regarding Ground No. 3, the ld. AR submitted that during the year, the appellant had deposited cash of Rs. 40,000/- in Bank

DR. ASHA MATHUR,GUJRAT vs. ASSISTANT COMMISSIONR OF INCOME TAX, CIRCLE-1, JAIPUR

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

Bench: The Itat By Taking Following

45 of the Act. The benefit was intended for investment in one residential house within India. Accordingly, it is proposed to amend the aforesaid sub-section (I) of section 54 so as to provide that the rollover relief under the said section is available if the investment is made in one residential house situated in India." (xi) Thus

M/S PRAMOD SAHAI BHATNAGAR HUF,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX, JAIPUR

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

property" (hereafter in this section referred to as the original asset), and the assessee has within a period of 30[one year before or two years after the date on which the transfer took place purchased 31], or has within a period of three years after that date 31a[constructed, a residential house], then], instead of the capital gain being

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.

section 54F (1)b of the Income Tax Act. 5.1.1. In the computation of income, the appellant had claimed Rs.1,20,380/- as cost of acquisition, which was supported by a purchase deed of both the property. The AO noted that that the total cost of both the property amounted to Rs.1,02,225/- (Rs. 87,725/- Rs.14

SHREYA SINGHVI,JAIPUR vs. INCOME TAX OFFICER WARD 2(2) JAIPUR, JAIPUR

In the result, the appeal of the assessee is allowed

Bench: Dr. S. Seethalakshmi & Shri Gagan Goyalshreya Singhvi, 80, Kiran Marg, Suraj Nagar Jaipur 302 006 Pan No.: Agmps 2639D ...... Appellant Vs.

house property", other than the new asset, the amount of capital gain arising from the transfer of the original asset not charged under section 45

RENU PODDAR,JAIPUR vs. PRINCIPAL COMMISSIONER OF INCOME TAX-2, JAIPUR

In the result the appeal of the assessee is allowed

Housing Finance Ltd [PB 93- 104] 5.3. Details of payments made to seller and source thereof [PB 81] Details of payments made to seller and source thereof [PB 81] Details of payments made to seller and source thereof [PB 81] 5.4. Bank Statements of all the joint owners evidencing direct payments to Bank Statements of all the joint owners evidencing

ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-2, JAIPUR vs. SMT. KULWANT KAUR, ALWAR

In the result, appeal of the revenue is dismissed

Bench: The Itat By Taking Following

property" (hereafter in this section referred to as the original asset), and the assessee has within a period of one year before or two years after the date on which the transfer took place purchased, or has within a period of three years after that date constructed, one residential house in India, then, instead of the capital gain being charged

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

In the result, appeal of the assessee is allowed

property as required u/s 54 and thus, assessee is entitled to claim deduction under section 54 on the sale value of the residential house constructed on such agricultural land. The ld. A/R submitted that without prejudice to above, in case even it is assumed that the residential house sold by the assessee on the agricultural land is not eligible

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

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

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 in the new house property

DAULAT SINGH HALDEA,JAIPUR vs. ITO WD 3(3), JAIPUR

The appeal is partly allowed as regards

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

45: Provided that nothing contained in this sub-section shall apply where— (a) the assessee,— (i) owns more than one residential house, other than the new asset, on the date of transfer of the original asset; or (ii) purchases any residential house, other than the new asset, within a period of one year after the date of transfer

PRAKASH PANDHARINATH BAKRE,INDORE vs. PR.CIT-1, JAIPUR

In the result, the appeal of the assessee is allowed

property” (hereafter in this section referred to as the original asset), and the assessee has within a period of one year before or two years after the date on which the transfer took place purchased or has within a period of three years after that date constructed, one residential house in India, then, instead of the capital gain being charged

PINKCITY JEWELHOUSE PVT LTD. 76, DHULESHWAR GARDEN, JAIPUR,JAIPUR vs. DCIT, CIRCLE-2, JAIPUR, CIRCLE-2, JAIPUR

In the result, the appeal of the assessee is allowed

property” (hereafter in this section referred to as the original asset), and the assessee has within a period of one year before or two years after the date on which the transfer took place purchased or has within a period of three years after that date constructed, one residential house in India, then, instead of the capital gain being charged

SMT. BIRMA DEVI,JAIPUR vs. INCOME TAX OFFICER, WARD-6-2, JAIPUR

In the result, appeal of the assessee is allowed in terms indicated

Bench: The Hearing Of This Appeal.”

House) before the due date of filing of return of income. The assessee simultaneously claims that another Rs.5 lakhs (50% of Rs.10 lakhs similarly invested) has been invested in the residential property before the actual filing of the return on 25/08/2011 i.e. within the time limit provided under s.139(4) of the Act. 9.2 Section 54(2) enjoins that

MUSTAFA KATTHAWALA,KOTA vs. DCIT ACIT, CIRCLE-2, KOTA, KOTA

In the result, the appeal of the assessee is allowed for\nstatistical purposes

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI, AM\nआयकर अपील सं./ITA. No. 1156/JPR/2024\nनिर्धारण वर्ष / Assessment Years : 2015-16\nMustafa Katthawala\nProp. Shakti Steels, Near Reliance\nPetrol Pump Jhalawar Road, IPIA\nKota.-324005.\nबनाम | The DCIT/ACIT,\nVs.\nCircle-2,\nKota.\nस्थायी लेखा सं./ जीआईआर सं./PAN/GIR No.: AGPPK5043C\nअपीलार्थी / Appellant\nप्रत्यर्थी / Respondent\nनिर्धारिती की ओर से / Assessee by :Shri Devang Gargieya, Adv.\nराजस्व की ओर से / Reven

property of partners was\ntransferred to the Firm in FY 2014-15 relevant to AY 2015-16 of Rs.\n13,75,00,000/-(25 bigha X 55 lacs). Therefore, assessee was liable\nto pay tax on capital gain of Rs.1,71,87,500/- (12.50% of\n13,75,00,000/-) as per provision of section 45(3) of the Income

DEPUTY COMMISISONER OF INCOME TAX , JAIPUR vs. M/S. MAN PRAKSH TALKIES PVT. LTD, JAIPUR

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI, vk;dj vihy la-@ITA. Nos.406 & 407/JP/2018 fu/kZkj.k o"kZ@Assessment Years : 2008-09 & 2009-10 Dy. Commissioner of Income Tax, Circle-02, Jaipur cuke Vs. M/s Man Prakash Talkies Pvt Ltd. Near Yadgar, M. I. Road, Jaipur LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: AABCM 6231 F vihykFkhZ@Appellant izR;FkhZ@Respondent vk;dj vihy la-@C.O. Nos.11 & 12/JP/2018 (Arising out of ITA Nos.406 & 407/JP/2018) fu/kZkj.k o"kZ@Assessment

section 48. Thus, the income u/s 45(2) on this issue comes to Rs. 2,43,62,217/- which is added back to live assessee's income under the head business and profession. As against capital gain of Rs. 2,01,69,487/- shown by the assessee. 11. Ld. AO further observed that the assessee sold a shop

DEPUTY COMMISSIONER OF INCOME TAX, JAIPUR vs. M/S MAN PRAKASH TALKIES PVT. LTD., JAIPUR

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI, vk;dj vihy la-@ITA. Nos.406 & 407/JP/2018 fu/kZkj.k o"kZ@Assessment Years : 2008-09 & 2009-10 Dy. Commissioner of Income Tax, Circle-02, Jaipur cuke Vs. M/s Man Prakash Talkies Pvt Ltd. Near Yadgar, M. I. Road, Jaipur LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: AABCM 6231 F vihykFkhZ@Appellant izR;FkhZ@Respondent vk;dj vihy la-@C.O. Nos.11 & 12/JP/2018 (Arising out of ITA Nos.406 & 407/JP/2018) fu/kZkj.k o"kZ@Assessment

section 48. Thus, the income u/s 45(2) on this issue comes to Rs. 2,43,62,217/- which is added back to live assessee's income under the head business and profession. As against capital gain of Rs. 2,01,69,487/- shown by the assessee. 11. Ld. AO further observed that the assessee sold a shop