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Income Tax Case Laws - Section: 50C


Income Tax

Cases for Section: 50C
Showing 16 to 30 of 215 Records

2014 (4) TMI 399 - ITAT HYDERABAD

Income Tax Officer ward 8(1), Hyderabad Versus Shri Harinath Choudary, Hyderabad

Assessability of capital gains of property Development agreement - Whether it is assessable in the year in which the development agreement was entered into or in the relevant subsequent year in which the area duly developed and constructed coming t ......

2014 (4) TMI 349 - ITAT HYDERABAD

Smt. Bhavya Anant Udeshi, Hyderabad Versus The Income Tax Officer (International taxation)

Taxability of capital gain on transfer of property u/s 50C of the Act Computation of LTCG Held that:- There is no evidence regarding payment of consideration by the transferee and also taking possession of the immovable property immediately after ......

2014 (3) TMI 506 - ITAT HYDERABAD

The Income Tax Officer Versus Smt. Chitti Parvatha Vardhanamma, Hyderabad

Valuation of property - Addition made on the basis of the value of the property adopted by the SR for stamp duty purposes Held that:- The factors cannot be acted upon by the authorities for the reason that section 50C is a deeming section - Any rel ......

2014 (3) TMI 356 - ITAT CHENNAI

Shri. C. Sugumaran Versus The Assistant Commissioner of Income Tax

Sale of property Power of Attorney (POA) was cancelled - assessment in the hands of assessee as an agent or as property owner - Assessment of capital gain u/s 50C of the Act Fair market value of the property for the purpose of indexation whethe ......

2014 (3) TMI 294 - ITAT DELHI

Deputy Commissioner of Income Tax Versus M/s Mani Capital Limited

Deletion of disallowance of interest Interest free advance given Held that:- The CIT(A) has recorded the finding that the advances were for the purpose of business because the assessee is in the business of real estate, share trading etc. and the ......

2014 (3) TMI 288 - ITAT MUMBAI

Asha Khatiwala Jayshree Versus ITO-2(3) (2), Mumbai

Nature of Asset - Whether the development arrangement entered into by the owners is in furtherance of their business activity of real estate development or is only toward realizing a capital asset - No capital gains arises to the assessee prior to A. ......

2014 (3) TMI 263 - ITAT HYDERABAD

Lt. Col. PRS. Rao (Retd) Versus Income Tax Officer

Determination of fair market value of the property for the purpose of computation of capital gains Held that:- The assessee has not been able to submit any evidence or any material to show that the FMV adopted by him, is the actual market value of ......

2014 (3) TMI 255 - ITAT KOLKATA

M/s. Cellica Developers Pvt. Ltd. Versus Deputy Commissioner of Income Tax

Deletion made u/s 14A of the Act Held that:- Rule 8D(1) specifically states that determination of disallowance under Sub-Rule (2) can be done only when Assessing Officer is not satisfied with the correctness of the claim of expenditure made by the ......

2014 (3) TMI 179 - ITAT AGRA

Dy. Commissioner of Income Tax-1 Versus Smt. Urmila Bansal

Deletion of Penalty u/s 271(1)(c) of the Act Valuation u/s 50C of the Act Inaccurate particulars furnished for income of LTCG Held that:- The assessee has duly disclosed not only the consideration actually received by her but also the fact of a ......

2014 (3) TMI 62 - ITAT DELHI

Nexus Clothing Company Versus ITO, Ward-33(1), New Delhi

Addition made on account of profit on sale of property - Application of section 50C - stamp valuation - Held that:- The decision in CIT Allahabad and Anr vs. Chandra Narain Chaudhri [2013 (9) TMI 646 - ALLAHABAD HIGH COURT] followed - CIT (A) has cor ......

2014 (2) TMI 1106 - ITAT CHENNAI

Mr. Bhawarlal Jawantraj Marlecha Versus The Deputy Commissioner of Income Tax

Valuation of the property - Property sold by the assessee Held that:- There is lot of variation on the guideline value furnished by the Sub-Registrar and adopted by the Assessing Officer to that of the value adopted by the assessee of registered va ......

2014 (2) TMI 1028 - ITAT MUMBAI

The Income Tax Officer Versus Smt. Champaben C. Patel

Applicability of Section 50C of the Act - Whether the provisions of section 50C of the Act are applicable or not to the sale of development rights Held that:- The decision in The decision in ITO Versus SHRI CHANDULAL P PATEL [2013 (12) TMI 946 - IT ......

2014 (2) TMI 897 - DELHI HIGH COURT

Commissioner of Income Tax-X Versus Shri Kishan Dass

Valuation u/s 50C of the Act application of circle rate on leasehold rights - Held that:- The contrast in language, given that Section 50C is a specific provision, which seeks to enact a presumption is significant - The valuation of the concerned S ......

2014 (2) TMI 834 - ITAT JODHPUR

Income-tax Versus Shiv Kumar Rangwani

Adoption of amount as valuation of the second property Valuation of property u/s 50C(2) of the Act - The AO has not considered and appreciated the provisions of section 50C of the Act in its correct perspective - the value adopted or assessed by an ......

2014 (2) TMI 744 - ITAT AHMEDABAD

Assistant Commissioner of Income-tax Versus Mohanbhai N. Turakhiya & Others

Nature of Profit - Whether the profit on sale of this property is business profit or capital gain Held that:- The basis adopted by the CIT(A) for holding that the profit on sale of land in question is assessable as business profit is not proper - S ......



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