The Commissioner of Income Tax-IV vs. M/s Pokarna Limited

The appeals are dismissed

Bench: P.SAM KOSHY,NARSING RAO NANDIKONDA

Capital gains. F.—Income from other sources. 10. Section 22 of the Act deals with income from House property which reads as under: Income from house property. 22. The annual value of property consisting of any buildings or lands appurtenant thereto of which the assessee is the owner, other than such portions of such property as he may occupy

Commissioner of Income Tax, Rajahmundry vs. M/s. Kakinada Coop. Town Bank LTd., Kakinada

Bench: The Court Is: “Whether, The Shares Invested Through A Portfolio Management

gains were taxable as business income, the exemption of section 10(38) for long term capital gains for shares held

PRINCIPAL COMMISSIONER OF INCOME TAX-I vs. A.V. V. VARAPRASAD

Bench: C.V.NAGARJUNA REDDY,T.AMARNATH GOUD

exemption from capital gains under Sections 54EC and 54F of the Income Tax Act, 1961,(for short ‘the Act’). The case

The Commissioner of Income Tax vs. Srimantha Granites

Appeals are dismissed

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

gains. 7. Opposing the appeals, Shri. A. Shankar, learned Senior Advocate submitted that: • though the lands were converted in 2004, assessees have not diverted the use of land but continued their agricultural operation. 4 Bangalore International Area Plan Approval Authority I.T.A Nos.176/2015, 520/2014, 175/2015, 177/2015, 178/2015, 179/2015, 298/2015 14 They have offered huge sums of income as 'agricultural income

The Commissioner of Income Tax- I vs. Harmahendar Singh Bagga

Appeals are dismissed

Bench: CHALLA KODANDA RAM,G.CHANDRAIAH

gains. 7. Opposing the appeals, Shri. A. Shankar, learned Senior Advocate submitted that: • though the lands were converted in 2004, assessees have not diverted the use of land but continued their agricultural operation. 4 Bangalore International Area Plan Approval Authority I.T.A Nos.176/2015, 520/2014, 175/2015, 177/2015, 178/2015, 179/2015, 298/2015 14 They have offered huge sums of income as 'agricultural income

The Commissioner of Income-tax-I, vs. Derco Cooling Coils Ltd,

Appeals are dismissed

Bench: CHALLA KODANDA RAM,G.CHANDRAIAH

gains. 7. Opposing the appeals, Shri. A. Shankar, learned Senior Advocate submitted that: • though the lands were converted in 2004, assessees have not diverted the use of land but continued their agricultural operation. 4 Bangalore International Area Plan Approval Authority I.T.A Nos.176/2015, 520/2014, 175/2015, 177/2015, 178/2015, 179/2015, 298/2015 14 They have offered huge sums of income as 'agricultural income

Sri Natakari Gopal vs. Income Tax Appellate Tribunal and 2 Others

Bench: : The Hon’Ble Justice T.S. Sivagnanam & The Hon’Ble Justice Hiranmay Bhattacharyya Date : 3Rd January, 2023. Appearance : Mr. Tilak Mita, Adv. ..For Appellant Mr. Pranit Bag , Adv. Mr. A. K. Mishra, Adv. Mr. Debdatta Saha, Adv. …For Respondent Re: Ga/1/2022 The Court:- Heard Mr. Tilak Mitra, Learned Advocate For The Appellant & Mr. Pranit Bag, Learned Advocate For The Respondent. There Is A Delay Of 1126 Days In Filing The Appeal. Though The Reasons Given In The Affidavit Are Not Convincing The Issues Involved In The Appeal Had Been Decided By This Court In Earlier Matters, This Court Exercises Discretion & Condone The Delay In Filing The Appeal. Accordingly, The Application Is Allowed.

Capital gain of Rs.1,12,13,010/- and claim the same as exempted from income tax u/s 10(38) of the Income

The Commissioner of Income Tax(Central) vs. M/s.Madhu Enterprises

Bench: The Learned

gain on transfer of certain capital assets not to be charged in case of investment in residential house. *** *** *** Provided that nothing contained in this sub-section shall apply where.– (a) the assessee,– (i) owns more than one residential house, other than the new asset, on the date of the transfer of the original asset; or” 14. The AO held that

The Commissioner of Income Tax vs. M/s.Sri Jayalakshmi Power Corporation Limited

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

capital gains exempt under section 10(38) of the Income Tax Act, 1961 and the purported findings of the Tribunal

SMT. SHANTHA VIDYASAGAR ANNAM vs. INCOME TAX OFFICER, WARD-4(2) HYDERABAD

In the result, the orders dated 09

Bench: J SREENIVAS RAO,ALOK ARADHE

capital gain arose was l99g_99, relevarrt for the assessment year J ggg_2OOO. It was also stated that the assessee received 6560 squ are feet of residential built_up area on surrender of her land meas;uring 570 squa_re yards. According to the assessee, she is eligrbl: to claim exemption

Principal Commissioner of Income Tax vs. Sri Nama Nageshwar Rao

Bench: P.SAM KOSHY,LAXMI NARAYANA ALISHETTY

exempt income on account of being long term capital gain. 3. A search was conducted u/s. 132 on 18th November

The Commissioner of Income Tax-III, vs. Sri Prem Chand

capital gain. The intention of the Legislature or the purpose with which the said provision has been incorporated in the Act, is also very clear that the assessee should be given some relief. Though it has been very often said that common sense is a stranger and an incompatible partner to the Income Tax Act and it is also said

The Commissioner of Income Tax IV vs. M/s Matrix Power Pvt Ltd.,

capital gains). Under section 72, a provision has been made for carry forward and setting off of a loss sustained against the head of profits and gains of business or profession. Under section 72, where a loss which has been sustained under the head of profits and gains of business or profession cannot be set-off against income under

Commissioner of Income Tax, vs. Agricultural Market Committee,

Bench: V.V.S.RAO,RAMESH RANGANATHAN

exemption from paying income tax. Section 10(29) was omitted with effect from 01.04.2003 by reason of the amendment. By the same amendment, an Explanation was inserted below Section 10(20) and, thereafter, Section 10(20) reads as under. 10(20) the income of a local authority which is chargeable under the head ‘Income from house property”, “Capital gains

Commissioner of Income Tax, Guntur. vs. Agricultural Market Committee, Kangiri.

Bench: V.V.S.RAO,RAMESH RANGANATHAN

exemption from paying income tax. Section 10(29) was omitted with effect from 01.04.2003 by reason of the amendment. By the same amendment, an Explanation was inserted below Section 10(20) and, thereafter, Section 10(20) reads as under. 10(20) the income of a local authority which is chargeable under the head ‘Income from house property”, “Capital gains

Commissioner of Income Tax vs. Sri P.Sarveswara Rao

Appeals are partly allowed, in view of the

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

exemption from or reduction in the rate of tax is admissible 1 2 3 4 5 ITA 315/2003 & connected cases Page 17 of 27 A B C (iii) The Taj Trapezium Area 1. The district of Agra (excluding Taj Trapezium Area) Aligarh (excluding Taj Trapezium area) Allahabad (excluding the area in south of Rivers Jamuna & Confluent Ganga but including

The Commissioner of Income Tax [Central] vs. Smt P Sujana

The appeal stands disposed of as indicated above

Bench: CHALLA KODANDA RAM,G.CHANDRAIAH

exemption, deduction, after the expiry of the period prescribed by or under the Act, in any case or class of cases. Accordingly, the CIT (Appeals) rejected the claim of carry forward of the loss, further observing that the assessee had not moved any application to CBDT for condonation of delay in filing the loss return. 4. Being aggrieved

Commissioner of Income Tax, Guntur vs. Agricultural Market Committee, Sattenapalli

In the result, the order of the income tax appellate tribunal

Bench: GODA RAGHURAM,M.S.RAMACHANDRA RAO

gains”, is a loss, the assessee shall be entitled to have the amount of such loss set off against his income from any other source under the same head. (2) Where the result of the computation made for any assessment year under Sections 48 to 55 in respect of any short-term capital asset is a loss, the assessee shall