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3 results for “house property”+ Section 194clear

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Key Topics

Section 143(3)3Section 54F2Section 143(2)2Section 45(2)2Section 2(14)2Addition to Income2Capital Gains2Long Term Capital Gains2Business Income

MANISH UMED DOSHI,MUMBAI vs. ACIT - VAPI CIRCLE, VAPI

In the result, appeal filed by the assessee is allowed

ITA 245/SRT/2022[2017-18]Status: DisposedITAT Surat17 Apr 2023AY 2017-18

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita No.245/Srt/2022 "नधा"रण वष"/Assessment Year: (2017-18) (Virtual Court Hearing) Manish Umed Doshi, Vs. The Cit(Exemption), 403, Dalamal House, Jamnalal Bajaj Ahmedabad. Road, Nariman Point, Mumbai – 400021. (Appellant) (Respondent) "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aabpd3578R

Section 143(3)Section 194Section 23

section 194-I) was significantly more as compared to income shown in return of income of the assessee. On perusal of Form 26AS, the AO noted that assessee had received rent of Rs.25,92,000/- from ICICI Bank Limited, however the same was not shown in house property

GIRDHARBHAI HARIBHAI GAJERA,SURAT vs. ITO(INTERNATIONAL TAXATION), SURAT

In the result, additional grounds raised by the assessee is allowed

2
ITA 143/SRT/2019[2015-16]Status: DisposedITAT Surat22 Feb 2023AY 2015-16

Bench: Shri Pawan Singh, Jm &Dr. A.L.Saini, Am आयकर अपील सं./Ita No.143/Srt/2019 (िनधा"रणवष" / Assessment Year: (2015-16) (Physical Court Hearing) Girdharbhai Haribhai Gajera Income Tax Officer 1,Vrushal Nagar, Opp. (International Taxation), 107, 1St Vs. Ktargam Police Station, Floor, Anavil Business Centre, Katargam Road, Surat-35004 Adajan-Hazira Road, Opp. Star Bazar, Adajan, Surat-395009 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Abepg 7339 M (Assessee ) (Respondent)

For Appellant: Shri Hiren R.Vepari, C.AFor Respondent: Shri Vinod Kumar, Sr-D.R
Section 142(1)Section 143(2)Section 143(3)Section 2(14)Section 271Section 45(2)

property was changed from agriculture land to stock-in-trade. The above string of events and evidence are sufficient to prove that the assessee converted his agriculture land into stock-in-trade before 11-8-2011 when the land came to be converted into non- agriculture land. 9. About additional ground raised by the assessee, Learned Counsel submitted that such

KALUBHAI DULABHAI GOLAVIYA,SURAT vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-2, , SURAT

In the result, ground raised by the assessee is allowed

ITA 619/SRT/2018[2014-15]Status: DisposedITAT Surat30 Mar 2023AY 2014-15

Bench: Shri Pawan Singh, Jm &Dr. A.L.Saini, Am आयकर अपीलसं./It(Ss)A No.15 & Ita No.619/Srt/2018 (िनधा"रणवष" / Assessment Years: (2011-12 &2014-15) (Virtual Court Hearing) Shri Kalubhai Dulabhai Golaviya Deputy Commissioner Of Income-Tax, B/1-2, Jalaram Society, B/H. Central Circle-2, Aaykar Bhavan, Vs. Gurunagar Society, Varachha Majura Gate, Surat-395001 Road, Surat "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Ablpp 5116 A (अपीलाथ" /Appellant) (""थ" /Respondent)

For Appellant: Shri Ashwin K Parekh, C.AFor Respondent: Shri Ashok B.Koli, CIT-DR &
Section 132Section 143(2)Section 143(3)Section 153ASection 45(3)Section 54F

Properties (supra) wherein the hon'ble High Court has held that all attendant circumstances has to be seen before one can draw a conclusion whether the gain was assessable as "business income" or "capital gain". Merely because the Assessee had shown the asset as "stock in trade", it cannot be said that the gain was taxable under the head "Income