LAHAR SINGH SIROYA vs. THE ASSISTANT COMMISSIONER OF INCOME TAX

The appeal stands allowed

Bench: S.SUJATHA,VINEET SARAN

long-term capital gain which they had earned in pursuance of transfer of their residential property being house no.267, sector

THE COMMISSIONER OF INCOME TAX vs. MRS SHAKUNTALA DEVI

Appeal is hereby dismissed

Bench: ARAVIND KUMAR,JAYANT PATEL

gain arises from the transfer of a long-term capital asset, being buildings or lands appurtenant thereto, and being a residential house, the income of which is chargeable under the head “Income from house property

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

Appeal is allowed

Bench: B.MANOHAR,N.KUMAR

long term capital asset, since the land was sold during August 2005, the gains arising to the assessee-company would be short terms capital gain. 13. The Appellate Authority affirmed the said findings of the Assessing Authority. However, the Tribunal was of the view the transaction in question was a colorable device to avoid payment of short term capital gain

THE COMMISSIONER OF INCOME TAX vs. LATE KHOOBCHAND M MAKHIJA

The appeals are dismissed

Bench: N.KUMAR,RATHNAKALA

property used for residence - (1) Subject to the provisions of sub-section (2), where, m the case of an assesses being an individual or a Hindu undivided family, the capital gain arises - 12 - from the transfer of a long-term capital asset, being buildings or lands appurtenant thereto, and being a residential house

THE COMMISSIONER OF INCOME TAX vs. SMT PADMAVATHY

The appeal is dismissed

Bench: B.MANOHAR,K.SREEDHAR RAO

long term capital gains arising from the transfer of a residential house are exempt from Income Tax subject to reinvestment in acquiring a residential house within two years. The records disclose that the joint development agreement was entered into between the parties in the year 1994, the property

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

property. Otherwise, if the date of inheritance is taken into consideration, then the cost of acquisition of the asset on that date corresponding to the market value is to be taken into consideration. Otherwise, take the cost of acquisition on the day the previous owner acquired it and apply the “Indexed Cost of Acquisition” and then calculate the capital gains

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

In the result, order of the

Bench: ALOK ARADHE,HEMANT CHANDANGOUDAR

Long Term Capital Gains. The assessee filed return of income on 31.07.2009 for the Assessment Year 2009-10 and declared total income of Rs.28,39,63,455/- and claimed exemption under Section 54F of the Act to the extent of Rs.88,98,970/- on account of acquisition of a new residential house property

THE COMMISSIONER OF INCOME TAX vs. SHRI. HOSAGRAHAR

Appeal stands dismissed

Bench: SATISH CHANDRA SHARMA,SURAJ GOVINDARAJ

long term capital gains, the assessee has claimed exemption under Section 54F by investment in residential property at New York. The assessee filed his submissions supporting the investments made outside the country. The assessing officer has disallowed the claim and I.T.A. NO.601 OF 2019 4 determined the taxable capital gains of Rs.6,76,02,248/-, against which, an appeal

PR. COMMISSIONER OF INCOME TAX-4 vs. M/S MINITECHS

Bench: B.V.NAGARATHNA,JAYANT PATEL

long term capital gain by disallowing part of cost of acquisition, in our view, cannot lead to concealment and it, at best, could be an error in computation. The primary facts with regard to the computation of capital gain filed by the Assessee are true and there was no concealment or furnishing of inaccurate particulars therein. Even with regard

THE PR.COMMISSIONER OF INCOME TAX,CIT (A) vs. SHRI J KRISHNA PALEMAR

Appeal is allowed;

Bench: P.S.DINESH KUMAR,RAMACHANDRA D. HUDDAR

house property”, other than the new asset. - 11 - ITA No. 546/2018 Explanation.- For the purpose of this section,- (i) “long-term capital asset” means a capital asset which is not a short-term capital asset; (ii) “net consideration”, in relation to the transfer of a capital asset, means the full value of the consideration received or accruing as a result

SHRI. NAVIN JOLLY vs. THE INCOME-TAX OFFICER

In the result, appeal is allowed

Bench: ALOK ARADHE,M.NAGAPRASANNA

long term capital gain of Rs.1,55,47,315/-. The appellant further declared that he had constructed a residential property during the year situate at 808/7 and 808/8 Kaikondanahalli, Sarjapur, Bangalore. The appellant claimed exemption under Section 54F of the Act to the extent of Rs.1,55,47,315/-. Before the assessing officer, the assessee agreed voluntarily to offer

ARUN K THIAGARAJAN vs. COMMISSIONER OF INCOME TAX

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

Bench: ALOK ARADHE,M.NAGAPRASANNA

gain arises from the transfer of a long-term capital asset, being buildings or lands appurtenant thereto, and being a residential house, the income of which is chargeable under the head “Income from house property

THE COMMISSIONER OF INCOME TAX vs. SHRI DINESH D RANKA

The appeal is allowed

Bench: ARAVIND KUMAR,MOHAN M. SHANTANAGOUDAR

house. In respect of the assessment year 1999-2000, the assessee filed return of income on 14.2.2000 declaring total income of Rs.4,90,000/-. The assessment under Section 143(3) of the Income Tax Act (‘the Act’ for short) came to be concluded determining the total income at Rs.5,20,000/-. A search came to be conducted in the premises

PRINCIPLE COMMISSIONER OF INCOME TAX vs. SRI T V VENUGOPAL

Bench: JAYANT PATEL,B.SREENIVASE GOWDA

house property income meaning thereby part of the investment has been accepted by the Assessing Officer as an investment. The assessee had retained the asset i.e., plot of land for more than 15 years. It indicate that he has the intention to keep the asset for earning long term capital gain

PRINCIPLE COMMISSIONER OF INCOME TAX vs. SRI T V VENUGOPAL

Bench: JAYANT PATEL,B.SREENIVASE GOWDA

house property income meaning thereby part of the investment has been accepted by the Assessing Officer as an investment. The assessee had retained the asset i.e., plot of land for more than 15 years. It indicate that he has the intention to keep the asset for earning long term capital gain

PRINCIPLE COMMISSIONER OF INCOME TAX vs. SRI T V VENUGOPAL

Bench: JAYANT PATEL,B.SREENIVASE GOWDA

house property income meaning thereby part of the investment has been accepted by the Assessing Officer as an investment. The assessee had retained the asset i.e., plot of land for more than 15 years. It indicate that he has the intention to keep the asset for earning long term capital gain

COMMISSIONER OF vs. MR VINAY MISHRA

In the result, the appeal fails and the same is

Bench: ALOK ARADHE,H.T. NARENDRA PRASAD

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 of one year 9 before or two years after the date on which the transfer took place purchased, or has within a period of three years after that date constructed, one residential house

SRI N GOVINDARAJU vs. THE INCOME TAX OFFICER

Appeal stands disposed of

Bench: S.SUJATHA,VINEET SARAN

house property, transport business, capital gains and other sources. For the assessment year 2004-05, he 3 filed his Income Tax return on 16.12.2004 declaring an income of Rs.4,82,330/- and agriculture income of Rs.1,62,470/-. Such return was first processed under section 143(1) of the Act and accepted on 2.3.2005. Thereafter, notice under Section