KIDS CLINIC INDIA PRIVATE LIMITED

Bench: KRISHNA S DIXIT

capital gains tax under Section 45 read with Section 47A of the Act on the successor company. Date of Order: 23-07-2018. ITA No.884/2007 c/w ITA No.60/2015 The Commissioner of Income Tax & Anr. Vs. M/s Prakash Electric Company 19/30 12

THE COMMR OF INCOME TAX vs. M/S DYNAMIC ENTERPRISE

The appeal stands dismissed

Bench: This Bench.

Section 45(4) of the Act, which is not the case on hand. 10. It is in this background we have to notice the conflicting judgments of this Court, which resulted in this reference and resolve the conflict. CONFLICTING JUDGMENTS 11. Before the Division Bench reliance was placed on the judgment of this Court in the case of Commissioner

THE COMMISSIONER OF INCOME TAX vs. M/S. ABB LTD

In the result, appeal stands dismissed

Bench: S.SUJATHA,RAVI V HOSMANI

12 - chargeable to capital gain nor under Section 41 of the Act. 12. Section 50B of the Act was inserted

THE COMMISSIONER OF INCOME TAX vs. LATE KHOOBCHAND M MAKHIJA

The appeals are dismissed

Bench: N.KUMAR,RATHNAKALA

section (2), where, m the case of an assesses being an individual or a Hindu undivided family, the capital gain arises - 12

ANTONY PARAKAL KURIAN vs. ASSISTANT COMMISSIONER OF INCOME TAX

Appeal is allowed in part

Bench: S.SUJATHA,S RACHAIAH

Capital gains amounting to Rs.2,23,47,434/- was claimed as an exemption under Section 54 of the Act and Rs.25 Lakhs is claimed as an exemption for making investment in REC bonds under Section 54EC of the Act. The contention of the appellant 6 was that out of the advance amount of Rs.50 lakhs received from M/s. Fashion Jewellery

THE COMMISSIONER OF INCOME TAX vs. MRS SHAKUNTALA DEVI

Appeal is hereby dismissed

Bench: ARAVIND KUMAR,JAYANT PATEL

section 45; and for the purpose of computing in respect of the new asset any capital gain arising from its transfer within a period of three years of its purchase or 12

THE PR COMMISSIONER OF INCOME TAX vs. SMT SAROJINI M KUSHE

Appeal stands dismissed

Bench: S.SUJATHA,HANCHATE SANJEEVKUMAR

Section 50D of the Act reads thus; - 11 - “Fair market value deemed to be full value of consideration in certain cases. 50D. Where the consideration received or accruing as a result of the transfer of a capital asset by an assessee is not ascertainable or cannot be determined, then, for the purpose of computing income chargeable to tax as capital

COMMISSIONER OF INCOME TAX vs. M/S.WINTAC LTD.,

The appeal is allowed in part

Bench: B.MANOHAR,DILIP B.BHOSALE

12,77,964/- and arrived at long term capital loss of Rs.3,10,22,946/-. The Assessing Officer on verification 26 of the records came to the conclusion that buying and selling of the shares of RAL were between the interested persons and family members as the assessee failed to adduce evidence that the valuation of the share was done

PR COMMISSIONER OF WEALTH TAX-6 vs. M R KODANDRAM

Appeals stand dismissed

Bench: RAVI MALIMATH,ASHOK S.KINAGI

section which is attributable to the capital asset being transferred by the specified entity, calculated in the prescribed manner: Provided…………….” 12. On combined reading of these provisions, any profits or gains

THE COMMISSIONER OF INCOME TAX vs. M/S ASSOCIATED ELECTRONIC AND ELCTRICAL

The appeal stands dismissed

Bench: S.SUJATHA,VINEET SARAN

sections 54, 54B, 54D, 54E, 54EA, 54EB, 54F, 54G and 54H be chargeable to income-tax under the head “Capital gains” and shall be deemed to be the income of the previous year in which the transfer took place.” 17 12

THE COMMISSIONER OF INCOME TAX vs. M/S SHASTHA PHARMA LABORATORIES

The appeal is dismissed

Bench: N.KUMAR,RATHNAKALA

capital gains and therefore, Section 45(4) of the Act is not at all attracted’. Lastly, he - 12 - contended that

SRI HARIRAM HOTELS P LTD vs. COMMISSIONER OF INCOME TAX (III)

Appeal is allowed

Bench: S.SUJATHA,VINEET SARAN

12(2),BANGALORE. …RESPONDENTS (BY SRI E R INDRAKUMAR, SENIOR COUNSEL & E I SANMATHI.ADV.) 2 THIS APPEAL IS FILED UNDER SECTION 260-A OF I.T. ACT, 1961 PRAYING TO SET ASIDE THE ORDER PASSED BY THE ITAT BANGALORE IN ITA NO.1012/BNG/2007, DATED 07/10/2008 CONFIRM THE ORDERS OF CIT (A) AND THE ASSESSING AUTHORITY IN THE INTEREST OF JUSTICE. THIS APPEAL

M/S NANDI STEELS LIMITED vs. THE ASSISTANT COMMISSIONER OF INCOME TAX

In the result, the findings

Bench: ALOK ARADHE,R. NATARAJ

capital gains. It is also argued that the business loss claimed to be set off by the assessee, was carried 12 forward business loss of the earlier years and the same can be set off only in terms of Section

THE PR. COMMISSIONER OF INCOME TAX vs. MRS. VANAJA MATTHEN

The appeal is dismissed

Bench: This Court, Questioning The Order Dated 25.01.2017 In

section 54F of the Act. The essence of the said provision is whether the assessee who received capital gains has invested in a residential ITA.No.456/2017 - 12

GOPAL S. PANDIT vs. THE COMMISSIONER OF INCOME TAX

Bench: S.SUJATHA,VINEET KOTHARI

12) of Section 144BA.” 7. Learned Counsel for the Revenue Mr. Jeevan J. Neeralgi, however, has submitted that there being no specific requirement in the provisions of Section 153D of the Act in giving any such opportunity of hearing to the Assessee before granting approval to the Draft Assessment Order to be passed by the lower Assessing Authority, namely, Deputy

M/S BHORUKA ENGINEERING INDS. LTD vs. THE DEPUTY COMMISSIONER OF INCOME TAX

Appeal is allowed

Bench: B.MANOHAR,N.KUMAR

Section 10 (38) of the Act. 6. The assessing authority proposed to bring to tax the gain arising on the sale of the shares as short term capital gain on sale of the immovable property by holding that the transaction was virtually for sale of the immovable property to DLFCDL and the sale of shares was only a devise

SRI N GOVINDARAJU vs. THE INCOME TAX OFFICER

Appeal stands disposed of

Bench: S.SUJATHA,VINEET SARAN

12,430 sq. ft. for a consideration of Rs.74,58,000/-. The property devolved upon the assessee in a family partition in the year 1972. Assessee treated it as a case of sale of long term capital asset, for which a fair market value was adopted at Rs.225/- per sq.ft. and offered the capital gains for taxation after availing

THE COMMISSIONER OF INCOME TAX vs. SMT PADMAVATHY

The appeal is dismissed

Bench: B.MANOHAR,K.SREEDHAR RAO

gain arises from the transfer of a long-term capital asset [before the 1st day of April, 2000] (the capital asset so transferred being hereafter in this section referred to as the original asset) and the assessee has, at any time within a period 12