SMT SUNANDA ANIL SALVE,NIPANI, BELGAVI vs. INCOME TAX OFFICER, WARD - 1, NIPANI

In the result, this appeal by the assessee stands allowed for statistical purpose

Bench: Shri Shamim Yahya, Am & Shri Ram Lal Negi, Jm

80,000 6 Kalpana Ajit Salve 3,00,000 3,40,000 6,40,000 TOTAL Rs. 64,00,000 As per registered sale deed, the property was sold by all above said assessee's for Rs.64,00,000/- on 10/03/2008. As such the capital gains were to be offered for taxation in the assessment year 2008-09. The assessee

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE - (1), PANAJI vs. M/S GOA STATE INFRASTRUCTURE DEVELOPMENT CORPORATION LIMITED , PANAJI

In the result, both the appeal of assessee and the revenue are dismissed

Shri Chandra Mohan Garg & Shri Girish Agrawalassessment Year: 2014-15 Goa State Infrastructure Income Tax Officer, Ward- Development Corporation 1(1), Panaji – Goa 403 001. Ltd. Vs. 7Th Floor, Edc House, Dr. A. B. Road, Panaji, Goa 403001 (Pan: Blrgo3663C) (Appellant) (Respondent) & Assessment Year: 2014-15 Deputy Commissioner Of Goa State Infrastructure Income-Tax, Circle-1(1), Vs. Development Corporation Panaji, Goa Ltd., Panaji . (Appellant) (Respondent) Present For: Assessee By : Shri Jitendra Jain, Ar Department By : Shri Mayur Kamble, Sr. Dr Date Of Hearing : 15.06.2022 Date Of Pronouncement : 02.09.2022 O R D E R Per Girish Agrawal: Both These Cross Appeals Preferred By The Assessee & The Revenue Are Directed Against The Order Of Ld. Cit(A)-2, Panaji Vide Ita No. 143/Cit(A)-2/Pnj/2017-18 & Ita No. 42/Cit(A)-1/Pnj/2017-18 Dated 27.09.2018 For A.Y. 2014-15 Passed Against The Assessment Order U/S 143(3) Of The Income-Tax Act, 1961 (Hereinafter Referred To As ‘The Act’) By Ito, Ward-1(1), Panaji-Goa Dated 19.12.2016. 2. Shri Jitendra Jain, Ar Appeared On Behalf Of The Assessee & Shri Mayur Kamble, Sr. Dr Appeared On Behalf Of The Revenue. M/S. Goa State Infrastructure Development Corporation Ltd. A.Y: 2015-16 3. The Only Issue Involved In These Two Cross Appeals Is In Relation To Disallowance Of Deduction Of Rs.3,37,35,560/- Claimed By The Assessee U/S. 80Ia Of The Act. The Assessee Is In Appeal In Respect Of Disallowance Of An Amount Of Rs.23,97,310/- & The Department Is In Appeal In Respect Of Relief Granted By The Ld. Cit(A) For Allowance Of Rs.3,13,38,250/-, Both Comprising The Total Claim Of Rs.3,37,35,560/-.