VIRENDRA SINGH BHADAURIA,JAIPUR vs. PR. CIT-3, , JAIPUR

In the result, this appeal of the assessee is allowed

Bench: Shri Sandeep Gosain, Jm & Shri Vikram Singh Yadav, Am Vk;Dj Vihy La-@Ita No. 255/Jp/2020 Assessment Year: 2015-16 Virendra Singh Bhadauriya, Cuke Pr.Cit-3, Vs. 71, Mansa Nagar, Shirsi Road, Jaipur. Jaipur-302012. Pan No.: Aaepb 0767 F Vihykfkhz@Appellant Izr;Fkhz@Respondent Fu/Kzkfjrh Dh Vksj Ls@ Assessee By : Ms. Datyani Pandey (Adv) & Shri Rajiv Pandey (Ca) Jktlo Dh Vksj Ls@ Revenue By : Shri B.K. Gupta (Cit-Dr) Lquokbz Dh Rkjh[K@ Date Of Hearing : 10/02/2021 Mn?Kks"K.Kk Dh Rkjh[K@ Date Of Pronouncement : 25/03/2021 Vkns'K@ Order Per: Sandeep Gosain, J.M. The Present Appeal Has Been Filed By The Assessee Against The Order Of The Ld. Pr.Cit-3, Jaipur Dated 16/03/2020 Passed U/S 263 Of The Income Tax Act, 1961 (In Short, The Act) For The A.Y. 2015-16. The Assessee Has Raised Following Grounds Of Appeal: “1. On The Facts & Circumstances Of The Case Ld. Pr. Commissioner Of Income Tax-3, Jaipur Erred In:- Ground No.1:- In Holding That The Assessment Order Dt.26.12.2017 Passed U/S 143(3) By Assessing Officer To Be Erroneous In So Far As Is Prejudicial To Interest Of Revenue On Issues Of 2

Section 54 of Income Tax Act, 1961 and the proceeds 3 ITA 255/JP/2020_ Virendra Singh Bhadauriya Vs Pr.CIT invested in "a house" was to be made exempt and without prejudice u/s 54 "one residential house" was to be made exempt fully (i.e. even with investment in name of self and spouse - Ref: Laxmi Narayan

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.

house property on 26.7.2012, which is prior to the date of furnishing of the return of income of the instant year. Accordingly, we are of the view that there is no requirement to comply with the provisions of section 54

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

house in India, then exemption u/s 54 shall be available in respect of capital gain in accordance with clause (i) and (ii) thereof. Further, provisions of section 54(2) provide as under: Profit on sale of property

SHRI MANOHAR LAL CHOUDHARY,JAIPUR vs. ACIT, CIRCLE-6, JAIPUR

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

property”. There could be actual usage of the house for residential purposes either in terms of let out or being self-occupied and there could be potential usage of house for residential house, thus bringing in complete flexibility for the purposes of section 54

KULDEEP SINGH SHEKHAWAT,KOTA vs. ITO W-2(1), KOTA, KOTA

In the result, the appeal of the assessee is allowed

Bench: Shri Sandeep Gosain & Shri Gagan Goyalkuldeep Singh Shekhawat, 11, Samridhi Traders, Police Line, Gopal Vihar, Baran Road-324001 Pan No. Araps0973M ...... Appellant Vs. Income Tax Officer, Ward-2(1), Kota …... Respondent

property of the assessee is sold and when exactly the amounts were invested, whether it was invested in a residential house or otherwise. All these facts have to be considered with reference to provisions of section 54F (4) along with section 139 (1) of the Act, as the due time would be under section 139(1) only not under section

KAUSHLENDRA SINGH,JAIPUR vs. ITO WARD-5(3) JAIPUR, JAIPUR

In the result, the appeal of the assessee is allowed

section 54 and 54EC of the Act, in respect of a residential house property purchased in the name of assessee

AJOY SHARMA,JAIPUR vs. DCIT CENTRAL CIRCLE-1, JAIPUR, JAIPUR

sections 80C, 80CCF, 80D,\n80DD and 80G to the tune of Rs. 1,00,000/-, 20,000, Rs 15,000/-, Rs\n1,00,000/- and Rs. 24,000/- respectively and further claiming loss under the\nhead \" Income from House Property\" at Rs 70,000/- thereby declaring net\ntaxable income of Rs. 10,58,800/- and refund of Rs 54

AJOY SHARMA ,JAIPUR vs. DCIT CENTRAL CIRCLE-1, JAIPUR, JAIPUR

sections 80C, 80CCF, 80D,\n80DD and 80G to the tune of Rs. 1,00,000/-, 20,000, Rs 15,000/-, Rs\n1,00,000/- and Rs. 24,000/- respectively and further claiming loss under the\nhead \" Income from House Property\" at Rs 70,000/- thereby declaring net\ntaxable income of Rs. 10,58,800/- and refund of Rs 54

AJOY SHARMA ,JAIPUR vs. DCIT CENTRAL CIRCLE-1, JAIPUR, JAIPUR

sections 80C, 80CCF, 80D,\n80DD and 80G to the tune of Rs. 1,00,000/-, 20,000, Rs 15,000/-, Rs\n1,00,000/- and Rs. 24,000/- respectively and further claiming loss under the\nhead \" Income from House Property\" at Rs 70,000/- thereby declaring net\ntaxable income of Rs. 10,58,800/- and refund of Rs 54

AJOY SHARMA ,JAIPUR vs. DCIT CENTRAL CIRCLE-1, JAIPUR, JAIPUR

sections 80C, 80CCF, 80D,\n80DD and 80G to the tune of Rs. 1,00,000/-, 20,000, Rs 15,000/-, Rs\n1,00,000/- and Rs. 24,000/- respectively and further claiming loss under the\nhead \" Income from House Property\" at Rs 70,000/- thereby declaring net\ntaxable income of Rs. 10,58,800/- and refund of Rs 54

AJOY SHARMA ,JAIPUR vs. DCIT CENTRAL CIRCLE-1, JAIPUR, JAIPUR

sections 80C, 80CCF, 80D,\n80DD and 80G to the tune of Rs. 1,00,000/-, 20,000, Rs 15,000/-, Rs\n1,00,000/- and Rs. 24,000/- respectively and further claiming loss under the\nhead \" Income from House Property\" at Rs 70,000/- thereby declaring net\ntaxable income of Rs. 10,58,800/- and refund of Rs 54

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

In the result, the appeal of the assessee is allowed

section 54 is available to an individual who has transferred a long term capital asset being a ‘residential House Property

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

section 54 is available to an individual who has transferred a long term capital asset being a ‘residential House Property

SAJJAD ALI,CHITTORGARH vs. DCIT(INTL)- JAIPUR, JAIPUR

Bench: SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member), SHRI NARINDER KUMAR (Judicial Member)

54 and section 2(14) of the Income Tax Act, 1961. The AO should also verify the genuineness of expenses incurred on account of interior, house hold expenses and furniture expenses mostly paid in cash. 8. Needless, to say that the AO should provide sufficient opportunity before passing the consequent order as per direction given.” 5. Assessee, feeling aggrieved

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

In the result the appeal of the assessee is allowed

house plot no 269, Gali No 04, Raja Park Jaipur and the cost for the same was Rs. 4,66,97,360.00 therefore assessee has rightly claim the deduction u/s 54 of Rs. 1,89,79,851.00. Your good self has mentioned that deduction w/s 54 F was available to assessee for Rs.11493250.00 is perhaps because of treating the assessee

PARVINDER KAUR,JAIPUR vs. PCIT-1, JAIPUR

In the result, the appeal of the assessee is allowed

house property on the date of sale. 9. Point by point rebuttal is as under: A. Amount not deposited in capital Gain Account Scheme A1. Section 54F provides that if the amount of net consideration received on sale of asset is not appropriated towards purchase of new asset before the date of furnishing of return of income u/s 139 then

YOGESH MUTHA,JAIPUR vs. ITO WARD 6(1), JAIPUR, NCRB, STATUE CIRCLE, JAIPUR

house on it.\n6. Assessee is said to have claimed deduction of the abovesaid amount\nof LTCG of Rs.1,55,98,431/-, under section 54 of the Act, on the ground\nthat he invested said entire amount in purchase of new property

SAVITRI LEASING FINANCE LTD,JAIPUR vs. INCOME TAX OFFICER, WARD - 4(2), JAIPUR, JAIPUR

In the result, the appeal of the assesee is allowed

Bench: SHRI SANDEEP GOSAIN (Judicial Member), DR MITHA LAL MEENA (Accountant Member)

section 275(1A) of the Act. Before parting it is stated that even though the claimed modified ground of appeal number 1 of the appellant has not been admitted, without prejudice, it is stated that the ground raised by the appellant stands covered by the above detailed discussion and the ground of appeal number 1 raised by the appellant stands