ASHOK BEHL,RANCHI vs. ITO,WARD-1(1), RANCHI

In the result, appeal filed by the assessee is allowed

Bench: Shri S.S, Godara, Jm & Dr. A.L. Saini, Am Ashok Behl Vs. Ito, Ward-1(1), Ranchi 1St Floor, Samridhi Complex, South Office Para, Doranda, Ranchi – 834001. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Adwpb2438E (अपीलाथ" /Appellant) .. (""थ" / Respondent)

20,21,200/-. The assessee had paid a sum of Rs.1,08,000/- as stamp duty and Rs.81,301/- as registration fee. The computation of capital gain is as under: Sale consideration (2013-14) Rs. 66, 00,000 Less:Cost of Acquisition (2011-12] Purchase Cost Rs.20, 21,200 Stamp duty paid Rs. 1,08,000 Registration

NAMITA PANDEY,PALAMAU vs. DCIT,CIRCLE-3,, RANCHI

Appeal are dismissed

Bench: Hon’Ble Shri S.S. Godara, Jm] I.T.A No. 318/Ran/2018 Assessment Year : 2014-15 Dilip Kumar –Vs- Dcit, Circle-1, Ranchi [Pan: Adlpk 4085 H] (Appellant) (Respondent)

section 50C of the Act. The CIT(A)’s detailed discussion to this effect read as under: “5. The appellant, with regard to grounds 1-3 has stated that the calculation of capital gains at Rs. 27,20,000/- was unjustified. The appellant stated that he had also purchased a flat for a consideration

DILIP KUMAR,RANCHI vs. DCIT,CIRCLE-1, RANCHI

Appeal are dismissed

Bench: Hon’Ble Shri S.S. Godara, Jm] I.T.A No. 318/Ran/2018 Assessment Year : 2014-15 Dilip Kumar –Vs- Dcit, Circle-1, Ranchi [Pan: Adlpk 4085 H] (Appellant) (Respondent)

section 50C of the Act. The CIT(A)’s detailed discussion to this effect read as under: “5. The appellant, with regard to grounds 1-3 has stated that the calculation of capital gains at Rs. 27,20,000/- was unjustified. The appellant stated that he had also purchased a flat for a consideration

DCIT CIRCLE-1, RANCHI vs. SHRI ANUP CHAWLA, RANCHI

In the result, the appeal of the revenue is dismissed

Bench: Shri S. S. Godara, J.M. & Dr.A.L.Saini, A.M.)

10. It is true that merely on the basis of fair market value no addition can be made u/s.69B of the Act, 1961, but on the basis of sufficient material on record some reasonable inference can be drawn that petitioner has invested more amount than the shown in account books, then only the addition u/s. 69B can be made

ASHOK KUMAR MALHOTRA,DHANBAD vs. ITO, WARD-1(1), DHANBAD

Bench: Sri J. Sudhakar Reddy)

gain arising from the said land was claimed to be exempt on the ground that the said land being an agricultural land was not a capital asset within the meaning of section 2(14). As defined in section 2(14) "capital asset" means property of any kind held by an assessee, whether or not connected with his business or profession

M/S ADITYA BIRLA CHEMICALS INDIA LTD.,PALAMAU vs. ACIT, RANCHI

In the result, Assessee`s appeals are allowed and Revenue`s appeals are dismissed and cross objections filed by the assessee are allowed to the extent indicated above

Bench: Shri S.S.Godara, Jm & Dr. A. L. Saini, Am I.T.A Nos. 125 To 127/Ran/2015 Assessment Years: 2008-09 To 2010-11 M/S. Aditya Birla Chemicals India Vs. Acit, Circle – 1, Ltd. (Formerly Known As Bihar Ranchi Caustic & Chemicals Ltd.) Rehla, Palamau – 822124. Pan/Gir No. : Aaacb 7747 A (Appellant) .. (Respondent)

gains of the eligible business in terms of Section 80-IA(8) of the Act." In this regard it is noted that the Hon'ble Mumbai Tribunal in the case of the West Coast Paper Mills Ltd. Vs. Asstt. Commissioner of Income Tax [2006] 103 ITD 19 MUM [2006] 286 ITR 252 MUM has noted that the rate

M/S ADITYA BIRLA CHEMICALS INDIA LTD.,PALAMAU vs. ACIT, RANCHI

In the result, Assessee`s appeals are allowed and Revenue`s appeals are dismissed and cross objections filed by the assessee are allowed to the extent indicated above

Bench: Shri S.S.Godara, Jm & Dr. A. L. Saini, Am I.T.A Nos. 125 To 127/Ran/2015 Assessment Years: 2008-09 To 2010-11 M/S. Aditya Birla Chemicals India Vs. Acit, Circle – 1, Ltd. (Formerly Known As Bihar Ranchi Caustic & Chemicals Ltd.) Rehla, Palamau – 822124. Pan/Gir No. : Aaacb 7747 A (Appellant) .. (Respondent)

gains of the eligible business in terms of Section 80-IA(8) of the Act." In this regard it is noted that the Hon'ble Mumbai Tribunal in the case of the West Coast Paper Mills Ltd. Vs. Asstt. Commissioner of Income Tax [2006] 103 ITD 19 MUM [2006] 286 ITR 252 MUM has noted that the rate

M/S ADITYA BIRLA CHEMICALS INDIA LTD.,PALAMAU vs. ACIT, RANCHI

In the result, Assessee`s appeals are allowed and Revenue`s appeals are dismissed and cross objections filed by the assessee are allowed to the extent indicated above

Bench: Shri S.S.Godara, Jm & Dr. A. L. Saini, Am I.T.A Nos. 125 To 127/Ran/2015 Assessment Years: 2008-09 To 2010-11 M/S. Aditya Birla Chemicals India Vs. Acit, Circle – 1, Ltd. (Formerly Known As Bihar Ranchi Caustic & Chemicals Ltd.) Rehla, Palamau – 822124. Pan/Gir No. : Aaacb 7747 A (Appellant) .. (Respondent)

gains of the eligible business in terms of Section 80-IA(8) of the Act." In this regard it is noted that the Hon'ble Mumbai Tribunal in the case of the West Coast Paper Mills Ltd. Vs. Asstt. Commissioner of Income Tax [2006] 103 ITD 19 MUM [2006] 286 ITR 252 MUM has noted that the rate

ACIT, RANCHI vs. M/S M/S ADITYA BIRLA CHEMICALS INDIA LTD., PALAMAU

In the result, Assessee`s appeals are allowed and Revenue`s appeals are dismissed and cross objections filed by the assessee are allowed to the extent indicated above

Bench: Shri S.S.Godara, Jm & Dr. A. L. Saini, Am I.T.A Nos. 125 To 127/Ran/2015 Assessment Years: 2008-09 To 2010-11 M/S. Aditya Birla Chemicals India Vs. Acit, Circle – 1, Ltd. (Formerly Known As Bihar Ranchi Caustic & Chemicals Ltd.) Rehla, Palamau – 822124. Pan/Gir No. : Aaacb 7747 A (Appellant) .. (Respondent)

gains of the eligible business in terms of Section 80-IA(8) of the Act." In this regard it is noted that the Hon'ble Mumbai Tribunal in the case of the West Coast Paper Mills Ltd. Vs. Asstt. Commissioner of Income Tax [2006] 103 ITD 19 MUM [2006] 286 ITR 252 MUM has noted that the rate

ACIT, RANCHI vs. M/S M/S ADITYA BIRLA CHEMICALS INDIA LTD., PALAMAU

In the result, Assessee`s appeals are allowed and Revenue`s appeals are dismissed and cross objections filed by the assessee are allowed to the extent indicated above

Bench: Shri S.S.Godara, Jm & Dr. A. L. Saini, Am I.T.A Nos. 125 To 127/Ran/2015 Assessment Years: 2008-09 To 2010-11 M/S. Aditya Birla Chemicals India Vs. Acit, Circle – 1, Ltd. (Formerly Known As Bihar Ranchi Caustic & Chemicals Ltd.) Rehla, Palamau – 822124. Pan/Gir No. : Aaacb 7747 A (Appellant) .. (Respondent)

gains of the eligible business in terms of Section 80-IA(8) of the Act." In this regard it is noted that the Hon'ble Mumbai Tribunal in the case of the West Coast Paper Mills Ltd. Vs. Asstt. Commissioner of Income Tax [2006] 103 ITD 19 MUM [2006] 286 ITR 252 MUM has noted that the rate

ACIT, RANCHI vs. M/S ADITYA BIRLA CHEMICALS INDIA LTD., PALAMAU

In the result, Assessee`s appeals are allowed and Revenue`s appeals are dismissed and cross objections filed by the assessee are allowed to the extent indicated above

Bench: Shri S.S.Godara, Jm & Dr. A. L. Saini, Am I.T.A Nos. 125 To 127/Ran/2015 Assessment Years: 2008-09 To 2010-11 M/S. Aditya Birla Chemicals India Vs. Acit, Circle – 1, Ltd. (Formerly Known As Bihar Ranchi Caustic & Chemicals Ltd.) Rehla, Palamau – 822124. Pan/Gir No. : Aaacb 7747 A (Appellant) .. (Respondent)

gains of the eligible business in terms of Section 80-IA(8) of the Act." In this regard it is noted that the Hon'ble Mumbai Tribunal in the case of the West Coast Paper Mills Ltd. Vs. Asstt. Commissioner of Income Tax [2006] 103 ITD 19 MUM [2006] 286 ITR 252 MUM has noted that the rate

SHRI AJAY KUMARS/O SHRI KISAN BHAGWAT,HAZARIBAGH vs. ITO WARD-2(5), HAZARIBAGH

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

Bench: Shri S.S. Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.243/Ran/2016 आयकरअपीलसं./Ita No.207/Ran/2017 ("नधा"रणवष" / Assessment Year:2009-10)

gain instead of profit earned from business. Total profit earned by the assessee through business of sale and purchase of land Rs. 3,94,145/--. Section 50C of Income Tax Act, 1961 is not applicable if income is taxable under Section 28, in this regard, we are also refer case Inderlok Hotels

SRI AJAY KUMAR ,HAZARIBAGH vs. ITO WARD-1(1), HAZARIBAGH

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

Bench: Shri S.S. Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.243/Ran/2016 आयकरअपीलसं./Ita No.207/Ran/2017 ("नधा"रणवष" / Assessment Year:2009-10)

gain instead of profit earned from business. Total profit earned by the assessee through business of sale and purchase of land Rs. 3,94,145/--. Section 50C of Income Tax Act, 1961 is not applicable if income is taxable under Section 28, in this regard, we are also refer case Inderlok Hotels

ASHUTOSH JHA,RANCHI vs. ITO, WARD -2(5), RANCHI

The appeal of the assessee stands allowed

Bench: Shri Sanjay Gargआयकर अपील सं.य/

10,53,240/- in the income of the assessee for the A.Y 2014-15 on the grounds of stamp duty value is more than the sale consideration of property. This addition is confirmed by the Learned CIT Appeals, Ranchi. ITA No. 188/Ran/19 A.Y 2014-15 Ashutosh Jha Page 2 The Assessing Officer contended that the value of property will

PADAM KUMAE JAIN,RANCHI vs. CIT, CENTRAL, PATNA

In the result, the appeal filed by the assessee is allowed

Bench: Shri S.S. Godara, Jm & Dr. A.L. Saini, Am आयकरअपीलसं./Ita No.289/Ran/2019 (िनधा"रणवष" / Assessment Year: 2012-13) Padam Kumar Jain Vs. Cit, Central, Cr Building, Beer Chand Patel Marg, Patna – 800001. Ratanlalsurajmal Compound, Main Road, Ranchi – 834001, Jharkhand "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Abrpj 0001 E (Assessee) .. (Revenue)

capital gain. (xvii) Balance sheet, profit and loss account, bank statement etc. The assessee submitted the documents and details, as mentioned above, during the original assessment proceedings u/s 153A/143(3) of the Act in response to notice under section 142(1) of the Act. During the original assessment proceedings(before first 263 order), the Padam Kumar Jain Assessment Year

M/S NANDLAL KESHARDEO,RANCHI vs. ACIT, CENTRAL CIRCLE (1), RANCHI

In the result, this appeal filed by the assessee is allowed

Bench: Shri George Mathan & Shri Ratnesh Nandan Sahay

capital gains to buy peace and the return of income was also accepted by the AO. Subsequently, notice u/s 274 of the Act was issued for initiation of penalty u/s 271AAB of the Act. The AO finally imposed the penalty which was upheld by the ld. CIT(A). 5. Before the ld.CIT(A),the assessee claimed that

ACIT CIR-3 (1), DEVGHAR vs. M/S DEOGHAR JAMTARA CENTRAL CO-OPERATIVE BANK LTD , DEOGHAR

In the result, both the revenue’s appeals are dismissed

Bench: Shri S. S. Godara, J.M. & Dr.A.L.Saini, A.M.)

20 18. As per the norms of bond these are taxable only in year of maturity. Hence the addition is deleted, but it is a fact confirmed by the 'A', that maintains its accounts on mercantile system. Therefore, interest should have been brought purview on accrual basis. The Ld. CIT(A) has granted relief the addition

PADAM KUMAR JAIN,RANCHI vs. DCIT, CENTRAL CIRCLE-1, RANCHI

In the result, all the appeals filed by the assessee are allowed and copy of common order passed is to be placed on respective case files

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

10] In view of above, impugned penalty order passed by the High Court deserved to be confirmed.[Para 11] 3.3.6. Further, the Hon'ble Bombay High Court in the case of Mahesh N Thakkar Vs ACIT reported in 59 taxmann.com 272 held that -Where assessee had declared correct amount of capital gain only after an explanation sought by Assessing Officer