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.

4), New property and just because builder could not complete construction of residential Delhi ITA No:- house, claim of exemption under 2692/Del/2018 section 54F

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

properties. According to the ld. Pr.CIT, as per the proviso (ii) of Section 54F(1) of the Act, no deduction is allowable to the assessee if he purchases any residential house, other than the new asset, within a period of one year after the date of transfer of the original asset. Consequently, after issuing show cause notice and seeking reply

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

54F(4) which refers to the due date of Section 139(1) and not Section 139(4) of the Act?"” 11 Renu Jain vs. ITO And the Hon’ble High Court referred to the decisions of other High Courts as under: “15. He has relied upon the following decisions: CIT v. Shri Jagtar Singh Chawla, [2013] 33 taxmann.com 38/215 Taxman

SMT. LATA PHULWANI,JAIPUR vs. PR. CIT-2, JAIPUR

In the result, appeal of the assessee is allowed

4 Smt. Lata Phulwani, Jaipur. respect of purchase of agricultural land and construction of house which is not admissible. Accordingly, the ld. PCIT has issued a show cause notice dated 4th February, 2019 under section 263 of the IT Act whereby proposed to modify the order of the AO on the issue of allowing the deduction under section 54F

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

In the result, the appeal of the assessee is allowed

house property in the name of his wife namely, Smt. Garima Singh, within the prescribed time limit as prescribed under the provisions of section 54F of the Act. Accordingly, the assessee claimed exemption u/s 54F of the Income tax Act. Consequently, no capital gain was chargeable under the head Long term capital gain on sale of above immovable property. Despite

GIRIRAJ PRASAD,KOTA vs. INCOME TAX OFFICER, BUNDI

In the result, the appeal of the assessee is allowed

house will be made registered in the name of the assessee. Further. the\nassessee did not produce any further document such as Registry till the date of passing the\nassessment order to establish his claim that full payment had been made and the New\nHouse Property was purchased by the assessee.\n2.4 Furthermore, the assessee did not produce any documentary

INCOME TAX OFFICER, JAIPUR vs. VINOD KUMAR JHARCHUR HUF, JAIPUR

In the result, the ground raised by the assessee in the application filed under rule 27

54F to calculate deduction in cases of mix house property as the section itself speaks of deduction on the basis of the house property either being residential or other than residential. The ld. AO on his own tried to apply a new mechanism i.e. to take proportionate exemption on the basis of cost of property, which do not find

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 was constructed by the assessee, rather she renovated the existing one and the construction started on 12.09.2013, i.e. before the sale of capital asset under consideration, i.e. 20.08.2014. 4. For better understanding of the issue, we are reproducing herein below the provisions of section 54F

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

54F of the Act was claimed by the assessee towards cost of construction of house property and in support of claim of expenditure being incurred, the assessee had furnished valuation report from the registered valuer and according to which the value of construction was shown at Rs. 4,03,920/-. Undoubtedly, according to the said report, it was clearly mentioned

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

section 54F (4) and it depends upon when the property of the assessee is sold and when exactly the amounts were invested, whether it was invested in a residential house

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

In the result the appeal of the assessee is allowed

house property. 1.3. The assessee was fulfilling all the conditions as contained in section 54F. 1.4. The assessee was eligible to claim deduction u/s 54F. 2. The only issue raised by ld. PCIT is with regards to the amount of deduction u/s 54F for which the assessee was eligible. 3. It is submitted that the case of the assessee

PARVINDER KAUR,JAIPUR vs. PCIT-1, JAIPUR

In the result, the appeal of the assessee is allowed

4) 7 I.T.(I.T.)A. No. 64/JP/2021 Parvinder Kaur v. PCIT 5. Investment in Residential House 99,51,879 41 Property till 31st March, 2017 30th June, 2017 31-42 Completion of Investment in 6. Residential House Property 7. Amount of total Investment in 1,00,52,076 42 Residential House Property till 30th June, 2017 A9. Hon’ble Supreme

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

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

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 which in this case will be\nRs.27

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)

54F. (1) Subject to the provisions of sub-section (4), where, in the case of an assessee being an individual or a Hindu undivided family, the capital gain arises from the transfer of any long-term capital asset, not being a residential house (hereafter in this section referred to as the original asset), and the assessee has, within a period

SHRI LALIT KUMAR KALWAR,SARWAR vs. INCOME TAX OFFICER, AJMER

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

property and if such investment is made within the period stipulated therein, than section 54F(4) is not at all attracted. We may clarify here that provisions of section 54(2) are almost identically worded as in invested the amount for the purchase/ construction of the house

PREM JAIN,JAIPUR vs. PR.CIT-1, JAIPUR

In the result, appeal of the assessee is disposed off in light of aforesaid directions

section 54F of the Act. For claiming exemption u/s 54F of the Act, the assessee has to construct a residential house one year before or two years after the date on which the capital asset was transferred. In this case, after transfer of the capital asset, the assessee has purchased 196.144 cents of land and constructed a house admeasuring

SHRI LALIT KUMAR KALWAR,SARWAR vs. INCOME TAX OFFICER, AJMER

Bench: HON’BLE SHRI SANDEEP GOSAIN (Judicial Member)

property and if such investment is made within the period stipulated therein, than section 54F(4) is not at all attracted. We may clarify here that provisions of section 54(2) are almost identically worded as in invested the amount for the purchase/ construction of the house

SH. NARENDAR KUMAR AGARWAL,JAWALI BHAWAN, STATION ROAD, ALWAR vs. PCIT, JAIPUR-1, JAIPUR

In the result the appeal of the assessee is allowed

house property which was made after due date of filing of return u/s 139 and the applicability of section 50C ignoring that all these 3 issues has been explained by the assessee to the AO in reply dt. 19.11.2019, 20.11.2019 & 21.11.2019 and considering the same AO has accepted the calculation of long term capital gain worked out by the assessee

SHRI UMESH CHAND GUPTA,JAIPUR vs. INCOME TAX OFFICER, WARD-7-2, JAIPUR

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

4. On the other hand, ld. DR has submitted that the assessee has not produced any evidence regarding any expenditure incurred for construction of boundary wall. The assessee has also not produced any documents to show as to when the boundary wall was constructed therefore, in the absence of any supporting evidence the claim of the assessee cannot be accepted