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

house propery. 5. The assessing offrcer by arr order d,ated 21.O2.2OO2 inter atia held that the clevelopment agreement dated 04.05.1,196 is a transfer within the meaning of Section 2$7) of the Act. The assessing officer firrther held that the assessee is not eetitled to benefit of Section 54F of the Act. The assessing officer, therefore, determined

The Commissioner of Income TAx-IV, vs. M/s. Mahaveer Enterprises (India) Limited

The Appeal is dismissed

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

53A of the TP Act. Such transactions cannot be relied upon or made the basis for mutations in Municipal or Revenue Records. What is stated above will apply not only to deeds of conveyance in regard to freehold property but also to transfer of leasehold property. A lease can be validly transferred only under a registered Assignment of Lease

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

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

house, was made within the period of six months and two years, of the sale of the shares, as prescribed under Sections 54EC and 54F respectively of the Act. The Commissioner has however, disagreed with the stand of the assessee and, accordingly, set aside the order of the AO, with a direction to him to disallow the claim of exemption