SRI BIJAY SHANKAR HALWASIYA,KOLKATA vs. ITO, WARD - 44(4), KOLKATA, KOLKATA

In the result, the appeal of the assessee in ITA No

Bench: Hon’Ble Shri S.S.Godara, Jm & Hon’Ble Shri M.Balaganesh, Am] I.T.A No. 2353/Kol/2016 & I.T.A. No. 910/Kol/2018 Assessment Years : 2007-08 & 2009-10 Shri Bijay Shankar Halwasiya -Vs- Ito, Ward-44(4) , Kolkata [Pan: Aaqph 4752 A] (Appellant) (Respondent)

53A of Transfer of Property Act, 1882. Hence at the first instance, there cannot be any capital gains in Asst Year 2007-08 and consequently there cannot be any income escaping assessment for the Asst Year 2007-08. The assessee further submitted that balance land out of total land around 5500 sq.yard as per development agreement dated

SRI BIJAY SHANKAR HALWASIYA,KOLKATA vs. ITO, WARD 44(4)/ KOLKATA, KOLKATA

In the result, the appeal of the assessee in ITA No

Bench: Hon’Ble Shri S.S.Godara, Jm & Hon’Ble Shri M.Balaganesh, Am] I.T.A No. 2353/Kol/2016 & I.T.A. No. 910/Kol/2018 Assessment Years : 2007-08 & 2009-10 Shri Bijay Shankar Halwasiya -Vs- Ito, Ward-44(4) , Kolkata [Pan: Aaqph 4752 A] (Appellant) (Respondent)

53A of Transfer of Property Act, 1882. Hence at the first instance, there cannot be any capital gains in Asst Year 2007-08 and consequently there cannot be any income escaping assessment for the Asst Year 2007-08. The assessee further submitted that balance land out of total land around 5500 sq.yard as per development agreement dated

ITO, WARD 35(2), KOLKATA, KOLKATA vs. SMT. NALINI BOTHRA, KOLKATA

In the result, the appeal of the revenue is dismissed

Bench: Hon’Ble Shri S.S. Godara, Jm & Shri M.Balaganesh, Am ] I.T.A No. 1405/Kol/2017 Assessment Year : 2014-15 Ito, Ward-35(2), Kolkata -Vs- Smt. Nalini Bothra. [Pan: Adrpb 5103 F] (Appellant) (Respondent)

53A of the Transfer of Property Act’. So in terms of provisions of section 2(47) of the Act, he held that property was acquired by the assessee only on 13.5.2013 and the said property was transferred on 10.9.2013. Since the property was an immovable property which was held by the assessee only for 4 months under her possession

STEWARTS & LLOYDS OF INDIA LIMITED,KOLKATA vs. COMMISSIONER OF INCOME TAX, KOL - I, KOLKATA

In the result the appeal by the Assessee is partly allowed

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Shri Waseem Ahmed, Am] Assessment Year : 2004-05 Stewarts & Lloyds Of India Ltd. -Versus- C.I.T., Circle-1, Kolkata Kolkata (Pan:Aaecs 0445G) (Appellant ) (Respondent)

53A of the Transfer of Property Act, 1882 (4 of 1882) ; or (vi) any transaction (whether by way of becoming a member of, or acquiring shares in, a co-operative society, company or other association of persons or by way of any agreement or any arrangement or in any other manner whatsoever) which has the effect of transferring, or enabling

BOMBAY PLAZA PVT. LTD.,KOLKATA vs. ACIT, CIR-5, KOLKATA, KOLKATA

In the result the appeals of the assessee are allowed

Bench: Hon’Ble Shri P.M.Jagtap, Am & Sri N.V.Vasudevan, Jm ]

53A of the Transfer of property act 1882. Therefore mere occupation ITA. Nos.1641&1203/Kol/2014-Bombay Plaza Pvt.Ltd A.Y.2006-07 & 2007-08 4 of the property for a term of not less than 12 years does not make an assessee owner of the property. According to section 27(iiib) the transaction should be the one referred to in section 269UA(f). Then only

M.M. EXPORTS,KOLKATA vs. ITO, WARD - 42(1), KOLKATA [MERGED WITH WARD - 43(1)], KOLKATA

In the result the appeal by the assessee is dismissed

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Shri Waseem Ahmed, Am ] Assessment Year : 2007-08

price of RS.32,00,000/- and Capital Gain of Rs.30,71,522/- got accrued in F.Y 2005-06 however, this remains a fact that no capital gain was even shown In A.Y 2006-07 and the Asset continued to appear in the Balance Sheet upto subsequent Assessment Years. Therefore, the argument lacks factual basis. The assessee has further claimed that

DCIT, CIRCLE - 11, KOLKATA, KOLKATA vs. M/S. EVEREADY INDUSTRIES INDIA LTD., KOLKATA

In the result appeal by the revenue is dismissed

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Shri M.Balaganesh, Am] Assessment Year : 2005-06

transferred in F.Y.2003-04 and the gain arising there from was reported in the return for A.Y.2004-05 under the head "Capital Gains" in terms of Section 53A of the Transfer of Property Act, 1882 read with Section 2(47)(iv) of the Income-tax Act, 1961. ITA No.94/Kol/2012-M/s.Eveready Inds.India Ltd.-A.Y.2005-06 38 (v) In respect of the remaining area

ACIT, CIR-22, KOLKATA, KOLKATA vs. MRS SHEELA CHOPRA, KOLKATA

Bench: Shri Aby.T Varkey & Shri Waseem Ahmedassessment Year :2006-07 Acit, Circle-22, 169 V/S. Mrs. Sheela Chopra, A.J.C. Bose Road, 8Th R-604, The Residency, Floor, Kolkata-14 City Centre, Block Dc, Sector-1, Salt Lake City, Kolkata-700 064 [Pan No.Abwpc 6131 D] .. अपीलाथ" /Appellant ""यथ"/Respondent

53A of ‘Transfer of Property Act’ and the provisions of section 2(47)(v) on Income Tax Act recognizes such transaction for the purpose of taxation. Therefore, the same should be treated as Long Term Capital Gain (LTCG for short). The assessee further submitted that the possession of the property was first owned by the assessee dated 14th March

PRADEEP KUMAR SONTHALIA,KOLKATA vs. D.C.I.T.,CC-1(4), KOLKATA

In the result appeal of the assessee is dismissed”

Bench: Shri Rajpal Yadav, Vice-(Kz) & Shri Girish Agrawal

53A of the T.P. Act the date of possession is the date when the assessee is to be treated as “deemed owner” and accordingly it should be treated as “date of purchase.” The Ld. A/R has accordingly argued that since Long Term Capital Gain arose within one year before the date of possession, hence the appellant is entitled to exemption