SRI. P S SESHADRI. vs. THE CHIEF COMMISSIONER OF INCOME TAX

In the result, this petition is allowed in part

Bench: The Hon'Ble Mr.Justice Ram Mohan Reddy

54 EC of the Act as it stood before insertion of the Proviso by Finance Act 2007 w.e.f. 01.04.2007, provides that if the cost of the long-term specified asset is less than the capital gain arising from the transfer of the original asset, so much of the capital gain as bears to the whole of the capital gain

THE COMMISSIONER OF INCOME TAX vs. MRS SHAKUNTALA DEVI

Appeal is hereby dismissed

Bench: ARAVIND KUMAR,JAYANT PATEL

gain to tax. Section 54 of the Act which provides for claiming exemption reads as under: “54. (1) Subject to the provision of sub- section (2), where, in the case of an assessee being an individual or a Hindu undivided family, the capital

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

The appeal stands dismissed

Bench: This Bench.

gains arising from the transfer of a capital asset effected in the previous year shall, save as otherwise provided in sections [***] [54

THE COMMISSIONER OF INCOME TAX vs. M/S PRAKASH ELECTRIC COMPANY

Bench: S.SUJATHA,VINEET KOTHARI

capital assets not charged u/s 45 shall be deemed to be the profit and gains chargeable to tax of the successor company. Section 47A(3) has used the word ‘any’ clause (d) of proviso to section 47(xiii) specifies that the aggregate of the share holding of the partners of the firm in the company should not be less than

KIDS CLINIC INDIA PRIVATE LIMITED

Bench: KRISHNA S DIXIT

capital assets not charged u/s 45 shall be deemed to be the profit and gains chargeable to tax of the successor company. Section 47A(3) has used the word ‘any’ clause (d) of proviso to section 47(xiii) specifies that the aggregate of the share holding of the partners of the firm in the company should not be less than

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

Appeal stands dismissed

Bench: S.SUJATHA,HANCHATE SANJEEVKUMAR

gains arising from the transfer of a capital asset effected in the previous year shall, save as otherwise - 8 - provided in sections 54

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

Appeals stand dismissed

Bench: RAVI MALIMATH,ASHOK S.KINAGI

gains arising from the transfer of a capital asset effected in the previous year shall, save as otherwise provided in sections 54

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

The appeal stands dismissed

Bench: S.SUJATHA,VINEET SARAN

gains arising from the transfer of a capital asset effected in the previous year shall, save as otherwise provided in sections 54

ARUN K THIAGARAJAN vs. COMMISSIONER OF INCOME TAX

In the result, the order passed by the assessing officer and

Bench: ALOK ARADHE,M.NAGAPRASANNA

capital gain arising out of the sale of the above property of Rs.15,44,009/- after claiming deduction towards incidental charges for transfer of property, the cost of acquisition and the deduction admissible under Section 54

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

capital gains’ and shall be deemed to be income of the previous year in which the transfer took place. The aforesaid sections which form part of section 54

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

In the result, the findings

Bench: ALOK ARADHE,R. NATARAJ

gains arising from the transfer of a capital asset effected in the previous year shall, save as otherwise provided in sections 54

THE COMMISSIONER OF INCOME TAX vs. SMT PADMAVATHY

The appeal is dismissed

Bench: B.MANOHAR,K.SREEDHAR RAO

54 and allowed the appeal insofar as exemption under Section 54EA is concerned. Even though the assessee has not received the sale consideration in cash pursuant to the agreement, she has received six flats as consideration. The sale consideration of three flats was invested in the long 6 term capital gain

MR.M.GEORGE JOSEPH vs. DY.COMMISSIONER OF INCOMET TAX OFFICER

In the result, order of the

Bench: ALOK ARADHE,HEMANT CHANDANGOUDAR

Capital Gain of Rs.26,88,34,949/- under Section 54 of the Act in respect of an investment made in acquiring

LAHAR SINGH SIROYA vs. THE ASSISTANT COMMISSIONER OF INCOME TAX

The appeal stands allowed

Bench: S.SUJATHA,VINEET SARAN

section 54 of the Act, in respect of the long-term capital gain which they had earned in pursuance of transfer

DR(SMT) SUJATHA RAMESH vs. CENTRAL BOARD OF DIRECT TAXES

Bench: The Hon'Ble Dr.Justice Vineet Kothari

Section 54 EC of the Act, to claim exemption from Capital Gain Tax in respect of immovable property sold by her during

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

The appeal is dismissed

Bench: B.V.NAGARATHNA,JAYANT PATEL

section 48, the 34 fair market value of the asset on the date of such transfer shall be deemed to be the full value of the consideration received or accruing as a result of the transfer. The capital asset here, which was the land, could be considered as transferred to the AOP in the year in which assessee entered

SRI ABDUL GAFFAR S/O SRI ABDUL RAHIM vs. THE INCOME-TAX OFFICER

The appeal is dismissed

Bench: B.MANOHAR,K.SREEDHAR RAO

54-F : 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

FABSUN ENGINEERING vs. THE INCOME TAX OFFICER

Appeal is allowed

Bench: P.S.DINESH KUMAR,UMESH M ADIGA

Capital Gains were applicable. Assessee's challenge to the Assessment Order dated 25.08.1996 before CIT(A) in Appeal No.113/ITO-11(2)/A-I/12-13 failed. On further appeal in ITA No.948/Bang/2006, the ITAT remanded the matter to the Assessment Officer vide order dated 26.10.2007. 4. After remand, the Assessing Officer by order dated 31.12.2008, reiterated the earlier stand. The CIT(A) vide order