2014 (6) TMI 13 - CALCUTTA HIGH COURT
Sunil Kumar Agarwal Versus Commissioner of Income Tax, Siliguri
Reference made to valuation officer u/s 50C(2) of the Act Claim of exemption u/s 54EC of the Act - Sale consideration received is fully invested in bonds notified - Held that:- The valuation by the departmental valuation officer, contemplated u/s 5 ......
2014 (5) TMI 236 - ALLAHABAD HIGH COURT
The Commissioner of Income Tax And Another Versus Late Bhakt Mohan L/H Smt. Urmila Mohan C/o. Smt. Nishi Gupta
Power to invoke section 263 of the Act Valuation of property Compliance of section 50C of the Act - Held that:- The Tribunal is right in saying that the CIT in its order has referred the contents of the notice and details relating to the valuatio ......
2014 (5) TMI 71 - ITAT AGRA
Income-tax Officer, Versus Shri Haresh Chand Agarwal, HUF, Agra
Validity of re-assessment proceedings u/s 147/148 of the Act - full value of consideration u/s 50C of the Act - Held that:- There is no material available with the AO to form his opinion that income has escaped assessment - All material evidences wer ......
2014 (5) TMI 46 - ITAT MUMBAI
ITO 18(1) (3), Mumbai Versus M/s. D. Chetan Kumar & Co.
Deletion of STCG - Valuation of asset Held that:- The decision in M/s Lalbhai Kalidas & Co. Versus Income Tax Officer 16(3) (2), Mumbai [2013 (11) TMI 682 - ITAT MUMBAI] followed - FAA was of the view that a reading of section 43 clause (c) indicate ......
2014 (4) TMI 1017 - DELHI HIGH COURT
Commissioner of Income Tax -Delhi -I Versus Agile Properties Pvt. Ltd.
Discrepancies in valuation of investment Investment in agricultural property Fair market value - stamp value u/s 50C - Held that:- Following Commissioner of Income-tax Versus Dinesh Jain HUF [2012 (10) TMI 158 - DELHI HIGH COURT] - the error comm ......
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 ......