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17 results for “capital gains”+ Section 48clear

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Key Topics

Section 143(3)15Section 50C15Addition to Income13Section 549Section 489Section 153A8Section 2637Section 54F7Section 69B7Capital Gains

SUNITA ADUKIA,RANCHI vs. DCIT CIR-2, RANCHI

In the result, appeal is partly allowed

ITA 15/RAN/2018[13-14]Status: DisposedITAT Ranchi30 Oct 2019

Bench: S/Shri Chandra Mohan Gargassessment Year: 2013-14

For Appellant: Shri Rajiv Ranjan Mittal, CAFor Respondent: Shri P.K.Mondal, Addl. CIT(DR)
Section 132Section 143(3)Section 153Section 153ASection 54

48 months. Thus flats had to be treated as Long Term Capital Asset. (vii) The learned Assessing Officer erred in law in applying stamp duty value to calculate the capital gain without referring the case to DVO. Even the assessee had objected that the stamp duty value was higher than the market value. (viii) For that the learned Assessing Officer

7
Long Term Capital Gains4
Short Term Capital Gains4

SRI NALIN RANJAN,JAMSHEDPUR vs. ITO WD-1(3), JSR

In the result, appeal of the assessee is dismissed

ITA 331/RAN/2017[14-15]Status: DisposedITAT Ranchi29 Aug 2019

Bench: S/Shri Chandra Mohan Garg & Laxmi Prasad Sahuassessment Year: 2014-15

For Appellant: Shri Devesh Poddar, AdvFor Respondent: Shri P.K.Mondal, Addl. CIT(DR)
Section 50C

48, the fair market value of the asset on the date of such conversion or treatment shall be deemed to be the full value of the consideration received or accruing as a result of the transfer of the capital asset.] From the plain reading of the section, it is clear that capital gain

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

Appeal are dismissed

ITA 318/RAN/2018[2014-15]Status: DisposedITAT Ranchi09 Apr 2019AY 2014-15

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)

For Appellant: Shri Hari Lal Patel, AdvocateFor Respondent: Shri Chandan Das, JCIT
Section 143(3)Section 45Section 48Section 50CSection 50C(1)Section 54

gains’ (section 45) on the transfer of a capital asset. Section 50C(1) only seeks to substitute the full value of the consideration received or accruing as a result of transfer (i.e. of the capital asset), which is the starting point for the computation under section 48

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

Appeal are dismissed

ITA 278/RAN/2018[2014-15]Status: DisposedITAT Ranchi09 Apr 2019AY 2014-15

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)

For Appellant: Shri Hari Lal Patel, AdvocateFor Respondent: Shri Chandan Das, JCIT
Section 143(3)Section 45Section 48Section 50CSection 50C(1)Section 54

gains’ (section 45) on the transfer of a capital asset. Section 50C(1) only seeks to substitute the full value of the consideration received or accruing as a result of transfer (i.e. of the capital asset), which is the starting point for the computation under section 48

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

In the result, appeal filed by the assessee is allowed

ITA 78/RAN/2019[2014-15]Status: DisposedITAT Ranchi10 Sept 2020AY 2014-15

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)

For Appellant: Shri D. Sannigarh, ARFor Respondent: Shri A. K. Mohanti, Addl. CIT, Sr. DR
Section 143(3)

48 and benefit of exemption u/s 54 of the Income Tax Act and filled his return of income which includes the long term capital gains of Rs. 8,02, 828/- for this transaction. We note that agreements to sale extinguishes the rights of the builder in the said property in favour of the assessee and by signing this agreement

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

In the result, the appeal of the revenue is dismissed

ITA 8/RAN/2017[2012-13]Status: DisposedITAT Ranchi22 Feb 2019AY 2012-13

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

For Appellant: None appearedFor Respondent: Shri Chandan Das, JCIT/ld.DR
Section 143(3)Section 48Section 50CSection 56(2)(vii)Section 69B

capital gain under section 48. It is applicable in the case of a seller of property and therefore cannot be invoked

ITO.WD-2(1), RANCHI vs. SHRI NAND BIHARI SHRIVASTAVA, RANCHI

In the result, the revenue’s appeal is dismissed

ITA 197/RAN/2018[2014-15]Status: DisposedITAT Ranchi05 Apr 2019AY 2014-15

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

For Respondent: Shri Chandan Das, JCIT/ld.DR
Section 144Section 54Section 56(2)(vii)

section 56(2)(vii) of the I.T Act, 1961. 5. Brief facts qua the issue are that the assesse is a retired bank employee. Since no notice could be served upon him, he was not able to adduce evidences on his behalf. The appellant stated before AO that the property at village Pandara consisting of a house and land appurtenant

TATA CUMMINS PRIVATE LIMITED,PUNE vs. THE DCIT CIRCLE-1-JAMSHEDPUR AND THE ASSESSMENT UNIT, INCOME-TAX DEPARTMENT, NFAC, DELHI, JAMSHEDPUR

In the result, appeal of the assessee is partly allowed for statistical purposes

ITA 430/RAN/2024[2021-22]Status: DisposedITAT Ranchi12 Jun 2025AY 2021-22

Bench: Shri George Mathan & Shri Ratnesh Nandan Sahaytata Cummins Private Limited, D.C.I.T., Cummins India Office, Tower-A, 7Th Circle-1, Vs. Floor, Survey No. 21, Balewadi, Pune, Jamshedpur. Maharashtra. Pan No. Aaact 6353 L Appellant/ Assessee Respondent/ Revenue

Capital gains' which is one of the heads of income. If by application of the provisions of Section 45 read with Section 48

NISHA SARAWGI,RANCHI vs. ACIT,CIRCLE-2, RANCHI

Appeal is partly allowed in above terms

ITA 137/RAN/2019[2015-16]Status: DisposedITAT Ranchi21 Feb 2020AY 2015-16

Bench: Shri S.S.Godara & Dr. A.L. Sainiassessment Year :2015-16

Section 143(3)Section 2(47)(iii)Section 45(2)Section 54ESection 54F

gains arising from the transfer by way of conversion by the owner of a capital asset into, or its treatment by him as stock-in-trade of a business carried on by him shall be chargeable to income tax as his income of the previous year in which such stock in trade is sold or otherwise transferred

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

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

ITA 289/RAN/2019[2012-13]Status: DisposedITAT Ranchi08 Jul 2020AY 2012-13

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)

For Appellant: Shri M.K. Chaudhury & Shri Devesh Poddar, AdvocateFor Respondent: Shri Inderjeet Singh, CIT (DR)
Section 132(4)Section 143(3)Section 153ASection 263

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

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

ITA 193/RAN/2018[08-09]Status: DisposedITAT Ranchi05 Apr 2019

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

For Appellant: Shri Navin Dorania, ld.ARFor Respondent: Shri P.K. Mondal, JCIT/ld.DR
Section 143(3)Section 2(48)

gains “. 6. On appeal, ld. CIT(A) deleted the addition observing the followings:- “During the year appellant has invested Rs.49,99,500/- on 01.02.2008 in NABARD Bhavishya Nirman Bond. These bonds are Deep Discount Bond maturing in 2018. As per terms of bond these are taxable only in the year of maturity. These zero coupon bonds are notified u/s.2(48

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

ITA 131/RAN/2015[2008-09]Status: DisposedITAT Ranchi08 Jul 2020AY 2008-09

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)

Section 143(3)Section 40

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

ITA 127/RAN/2015[2010-11]Status: DisposedITAT Ranchi08 Jul 2020AY 2010-11

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)

Section 143(3)Section 40

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

ITA 126/RAN/2015[2009-10]Status: DisposedITAT Ranchi08 Jul 2020AY 2009-10

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)

Section 143(3)Section 40

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

ITA 125/RAN/2015[2008-09]Status: DisposedITAT Ranchi08 Jul 2020AY 2008-09

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)

Section 143(3)Section 40

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

ITA 137/RAN/2015[2010-11]Status: DisposedITAT Ranchi08 Jul 2020AY 2010-11

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)

Section 143(3)Section 40

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

ITA 136/RAN/2015[2009-10]Status: DisposedITAT Ranchi08 Jul 2020AY 2009-10

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)

Section 143(3)Section 40

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