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

Appeal stands dismissed

Bench: S.SUJATHA,HANCHATE SANJEEVKUMAR

30% of the total saleable super built up area. In the supplementary JDA dated 26.5.2011 the sharing ratio was revised to 26.89% and 73.11% between the assessee and the developer. The assessing officer had brought to tax Rs.5,68,19,443/- as capital gains by adopting cost of construction as sale consideration based on JDA between the assessee

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

30,850/-. The case of the assessee was taken up for scrutiny. The assessee made available necessary information and details to the Assessing Officer. The assessee had shown capital gains for sale of property at Rs.10,13,45,711/- and income from other sources at Rs.3,85,142/-. The assessee ITA.No.456/2017 - 3 - acquired the property under the Will dated

SRI N GOVINDARAJU vs. THE INCOME TAX OFFICER

Appeal stands disposed of

Bench: S.SUJATHA,VINEET SARAN

capital gains] and section 55(2)(b) [relating to cost of acquisition]. 30 Section 45 of the Act provides for how profit

PR COMMISSIONER OF INCOME TAX vs. M/S IND SING DEVELOPERS P LTD

The appeal is dismissed

Bench: B.V.NAGARATHNA,JAYANT PATEL

30. No doubt, asseessee itself had returned capital gains in the impugned assessment year, considering the land to have been transferred by it, in the relevant previous year. In our opinion, however this cannot help the case of revenue. Just because an erroneous admission of income had been made it would not make the asseessee liable

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

Appeal is allowed

Bench: B.MANOHAR,N.KUMAR

capital gain tax for the lands sold during 2005. 3 2. Bhoruka Steel Limited (BSL) was incorporated in the year 1969. It had a mini steel plant for the manufacture of billets and rolled products at Bangalore. It commenced its commercial production in 1972 and set up a refractory plant at Bangalore. They also set up a stevedoring division

L. VENKATARAMANA RAJU vs. UNION OF INDIA

Bench: The Hon'Ble Mr.Justice S.R.Krishna Kumar

capital gains arising to an Individual or a HUF from compulsory acquisition of an agricultural land situated in specified urban-limit subject 33 to fulfillment of certain conditions for specified urban land) 2. The RFCTLARR Act which came into effect from 1st January, 2014. in section 96, inter-alia provides that income-tax shall not be levied on any Award

M/S SRI BALAJI CORPORATE SERVICES vs. UNION OF INDIA MINISTRY OF FINANCE

Bench: The Hon'Ble Mr.Justice S.R.Krishna Kumar

capital gains arising to an Individual or a HUF from compulsory acquisition of an agricultural land situated in specified urban-limit subject 33 to fulfillment of certain conditions for specified urban land) 2. The RFCTLARR Act which came into effect from 1st January, 2014. in section 96, inter-alia provides that income-tax shall not be levied on any Award

COMMISSIONER OF INCOME TAX vs. M/S GMR HOLDINGS PVT LTD.,

The appeal is dismissed

Bench: S.SUJATHA,VINEET KOTHARI

gains” (whether relating to short-term Date of Judgment 31-07-2018 I.T.A.No.58/2012 Commissioner of Income-tax & Anr. vs. M/s. GMR Holdings Pvt. Ltd. 7/16 capital assets or any other capital assets).” In view of the above, we are of the considered view that the second objection of the AO in the reasons recorded for reopening the assessment

CHITTHARANJAN A DASANNACHARYA vs. THE COMMISSIONER OF INCOME TAX-V

In the result, the appeal is allowed

Bench: ALOK ARADHE,H.T. NARENDRA PRASAD

gains' as claimed by the Appellant? ii. The Hon'ble Tribunal was correct in holding that stock options did not constitute a 'capital asset' under Section 2(14) of the Act? iii. The Hon'ble Tribunal was right in concluding that cashless exercise of stock options does not constitute transfer of a long term capital asset under Section

M/S KEMFIN SERVICES PVT LTD vs. THE ASSISTANT COMMISSIONER OF INCOME TAX

In the result, the appeal is allowed

Bench: ALOK ARADHE,HEMANT CHANDANGOUDAR

capital gains? 2. For the facility of reference, facts from I.T.A.No.70/2011 are being referred to. The assessee is a non banking financial corporation engaged in the 4 activity of investment in shares. The Board of the assessee passed a resolution to stop its trading activities in shares and securities under the portfolio management scheme and to convert the stock

THE COMMISSIONER OF INCOME TAX vs. M/S KHIVRAJ MOTORS

Appeal is hereby dismissed;

Bench: ARAVIND KUMAR,VINEET SARAN

Section 263 of the Act with a direction to the Assessing Officer to redo the same and consequently the appeal before the Tribunal has become infructuous? b) Whether the Appellate Authorities were correct in holding that the addition of Rs.53,26,567/- made by the Assessing Officer on the basis of the 18% of the project cost of Rs.19.43 crores

THE COMMISSIONER OF INCOME TAX vs. M/S KHIVRAJ MOTORS

Appeal stands dismissed and second

Bench: ARAVIND KUMAR,VINEET SARAN

capital gains at ` 2,30,14,568/- plus ` 20 lakhs. Challenging the said order, respondent – assessee filed an appeal which was allowed by appellate Commissioner vide order dated 11.06.2008. The revenue challenged the order of appellate Commissioner in an appeal before the Tribunal which was dismissed on 31.03.2009. Said order of the Tribunal is the subject matter of appeal

THE PR COMMISSIONER OF vs. M/S MPHASIS LIMITED

Bench: The Hon'Ble Mr. Justice M. Nagaprasanna

gains or short term capital loss. Therefore, the tax stood cleared in the year 2016 through revised returns. This fact is not in dispute. After the petitioners filed their revised returns complaints come to be registered against all these petitioners invoking Section 200 of the CrPC before the learned Magistrate for offences punishable under Section

COMMISSIONER OF INCOME TAX vs. M.R.KODANDARAM

Appeals are dismissed

Bench: P.S.DINESH KUMAR,C.M. POONACHA

gains. 7. Opposing the appeals, Shri. A. Shankar, learned Senior Advocate submitted that: • though the lands were converted in 2004, assessees have not diverted the use of land but continued their agricultural operation. 4 Bangalore International Area Plan Approval Authority I.T.A Nos.176/2015, 520/2014, 175/2015, 177/2015, 178/2015, 179/2015, 298/2015 14 They have offered huge sums of income as 'agricultural income

COMMISSIONER OF INCOME-TAX vs. M.R.PRABHAVATHY

Appeals are dismissed

Bench: P.S.DINESH KUMAR,C.M. POONACHA

gains. 7. Opposing the appeals, Shri. A. Shankar, learned Senior Advocate submitted that: • though the lands were converted in 2004, assessees have not diverted the use of land but continued their agricultural operation. 4 Bangalore International Area Plan Approval Authority I.T.A Nos.176/2015, 520/2014, 175/2015, 177/2015, 178/2015, 179/2015, 298/2015 14 They have offered huge sums of income as 'agricultural income

COMMISSIONER OF INCOME vs. M.R.PADMAVATHY TRUST

Appeals are dismissed

Bench: P.S.DINESH KUMAR,C.M. POONACHA

gains. 7. Opposing the appeals, Shri. A. Shankar, learned Senior Advocate submitted that: • though the lands were converted in 2004, assessees have not diverted the use of land but continued their agricultural operation. 4 Bangalore International Area Plan Approval Authority I.T.A Nos.176/2015, 520/2014, 175/2015, 177/2015, 178/2015, 179/2015, 298/2015 14 They have offered huge sums of income as 'agricultural income

COMMISSIONER OF INCOME vs. SHRI. M.R. SEETHARAM

Appeals are dismissed

Bench: P.S.DINESH KUMAR,C.M. POONACHA

gains. 7. Opposing the appeals, Shri. A. Shankar, learned Senior Advocate submitted that: • though the lands were converted in 2004, assessees have not diverted the use of land but continued their agricultural operation. 4 Bangalore International Area Plan Approval Authority I.T.A Nos.176/2015, 520/2014, 175/2015, 177/2015, 178/2015, 179/2015, 298/2015 14 They have offered huge sums of income as 'agricultural income

COMMISSIONER OF INCOME-TAX vs. M.R.PATTABHIRAM

Appeals are dismissed

Bench: P.S.DINESH KUMAR,C.M. POONACHA

gains. 7. Opposing the appeals, Shri. A. Shankar, learned Senior Advocate submitted that: • though the lands were converted in 2004, assessees have not diverted the use of land but continued their agricultural operation. 4 Bangalore International Area Plan Approval Authority I.T.A Nos.176/2015, 520/2014, 175/2015, 177/2015, 178/2015, 179/2015, 298/2015 14 They have offered huge sums of income as 'agricultural income