VARANASI DEVELOPMENT AUTHORITY,VARANASEE vs. ASSISTANT COMMISSIONER OF INCOME TAX (EXEMPTION), LUCKNOW

In the result appeal filed by assessee in ITA no

Bench: Shri Vijay Pal Rao & Shri Ramit Kochar

1; Fifth Edition): “Trade or Commerce- The definition of 'trade' does not find its place in the Act. The dictionary meaning of 'trade' as per dictionary of Webster's New Twentieth Century Dictionary, (Second edition), means amongst others, 'A means of earning one's living, occupation or work'. In Black's Law Dictionary also ‘trade' means a business which

M/S. VARANASI DEVELOPMENT AUTHORITY,VARANASI vs. DEPUTY COMMISSIONER OF INCOME TAX (EXEMPTION), VARANASI

In the result appeal filed by assessee in ITA no

Bench: Shri Vijay Pal Rao & Shri Ramit Kochar

1; Fifth Edition): “Trade or Commerce- The definition of 'trade' does not find its place in the Act. The dictionary meaning of 'trade' as per dictionary of Webster's New Twentieth Century Dictionary, (Second edition), means amongst others, 'A means of earning one's living, occupation or work'. In Black's Law Dictionary also ‘trade' means a business which

INDRA NARAYAN TRIPATHI,GORAKHPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, RANGE - 02,, GORAKHPUR

In the result, appeal filed by the assessee in ITA

Bench: Shri Vijay Pal Rao & Shri Ramit Kochar

1) of Section 50- C exceeds the fair market value of the property on the date of transfer, the AO has to apply his mind on the validity of the objection of the assessee. He may either accept the valuation of the property on the basis of the report of the approved valuer filed by the assessee, or invite objection

VINOD KUMAR SARAF HUF,GORAKHPUR vs. PCIT,, GORAKHPUR

In the result, appeal of the assessee is allowed

section 10(38) is that the consideration should be realized on transfer of long term capital asset in the form of shares and STT must have been paid on the same. In the instant case the said condition has been fully satisfied. Further the case laws as quoted by the assessee also fully support the case of the assessee

GOPI KRISHNA VINOD KUMAR HUF,GORAKHPUR vs. PCIT,, GORAKHPUR

In the result, appeal of the assessee is allowed

section 10(38) is that the consideration should be realized on transfer of long term capital asset in the form of shares and STT must have been paid on the same. In the instant case the said condition has been fully satisfied. Further the case laws as quoted by the assessee also fully support the case of the assessee

VISHAL KANODIA,VARANASI vs. PCIT,, VARANASI

In the result, appeal of the assessee is allowed

section 10(38) is that the consideration should be realized on transfer of long term capital asset in the form of shares and STT must have been paid on the same. In the instant case the said condition has been fully satisfied. Further the case laws as quoted by the assessee also fully support the case of the assessee

SARVESH KUMAR AGARWAL HUF,VARANASI vs. PCIT,, VARANASI

In the result, appeal of the assessee is allowed

section 10(38) is that the consideration should be realized on transfer of long term capital asset in the form of shares and STT must have been paid on the same. In the instant case the said condition has been fully satisfied. Further the case laws as quoted by the assessee also fully support the case of the assessee

ANJU JHUNJHUNWALA,VARANASI vs. PCIT, VARANASI

In the result, appeal of the assessee is allowed

section 10(38) is that the consideration should be realized on transfer of long term capital asset in the form of shares and STT must have been paid on the same. In the instant case the said condition has been fully satisfied. Further the case laws as quoted by the assessee also fully support the case of the assessee