2014 (7) TMI 1003 - DELHI HIGH COURT
Commissioner of Income Tax-IV Versus Hotz Industries Ltd.
Revision u/s 263 - Disallowance u/s 14A – Held that:- Without pronouncing whether the figures given by the assessee were incorrect, the Commissioner recorded that this required verification from the records - This is impermissible and cannot be allow ......
2014 (6) TMI 494 - ITAT HYDERABAD
Sri Potla Nageswara Rao, Khammam Versus The DCIT, CC-4, Hyd.
Addition of LTCG – transfer / extinguishment of right - Joint property development agreement - Held that:- The land is a capital asset was transferred by the assessee to the developer during the AY 2003-04, for construction and it is enough if the as ......
2014 (6) TMI 376 - GUJARAT HIGH COURT
Deepakbhai Ramjibhai Patel Versus Income Tax Officer
Validity of notice u/s 148 of the Act - Mere change of opinion - Claim of exemption u/s 54B of the Act - Held that:- In the return filed by the assessee, the main claim was for exemption u/s 54B of the Act on sale of land – the proceeds of the sale o ......
2014 (4) TMI 707 - ITAT HYDERABAD
Sagi Kodanda Rama Raju, Hyderabad Versus ACIT, Circle 6(1), Hyderabad
Validity of re-opening of assessment u/s 147 of the Act – Held that:- CIT(A) rightly held that the AO has tangible material before initiating proceedings u/s 147 – AO obtained information u/s 133(6) and thereafter, he has initiated proceedings for re ......
2014 (4) TMI 470 - ITAT COCHIN
Assistant Commissioner of Income-tax Versus TG. Chandrakumar
Grant of deduction u/s 54B - CIT(A) granted deduction u/s 54B by holding that transfer took place on 17-03-2007 – Held that:- CIT(A) found that under Income-tax Act, there was a transfer on 17-03-2007 when physical possession of property was handed o ......
2014 (3) TMI 466 - ITAT AHMEDABAD
Income Tax Officer Versus Shri Arjundbhai Dolat Desai, (HUF)
Deletion of disallowance u/s 54B of the Act – Sale of non-agricultural plots - Held that:- The Revenue contended that the CIT(A) has erred in accepting the additional evidences furnished during the appellate stage without remanding the same to the AO ......
2014 (2) TMI 788 - ITAT AHMEDABAD
Haresh Kumar Govindbhai Patel, Prop. Memaganbhai Motiram Sons Versus The Income Tax Officer
Addition on account of Long Term Capital Gain on sale of immovable property – Held that:- CIT(A) was of the view that the facts namely that against the deduction u/s 54B, Assessee had only shown new purchase of land - the new asset purchased was a re ......
2014 (2) TMI 733 - ITAT INDORE
Income Tax Officer 5(1) Indore Versus Jaspal Singh Chadha
Deletion made under the head LTCG – Income from sale of land - agriculture land – Exemption u/s 10(37) of the Act allowed – Held that:- The Tribunal was therefore justified in holding that distance of 2 kms from the municipal limits of city of Khanna ......
2014 (1) TMI 1271 - ITAT VISAKHAPATNAM
GANTA VIJAYA LAKSHMI Versus INCOME TAX OFFICER
Entitlement for deduction u/s 54B and 54F of the Act – Investments made in the name of daughters – Capital gains - Held that:- The benefit of exemption u/s 54B and 54F could be given to an assessee only if the new property is purchased in his own nam ......
2014 (1) TMI 492 - PUNJAB & HARYANA HIGH COURT
Kewal Krishan Jain Versus Commissioner of Income Tax, Jalandhar and another
Power of CIT u/s 264 - Revision in favor of assessee - Held that:- Following Parekh Brothers v. Commissioner of Income Tax, Kerala-II Ernakulam and others, [1983 (8) TMI 17 - KERALA High Court] - Mere fact that the assessee had not raised a plea befo ......
2013 (12) TMI 1050 - ITAT HYDERABAD
Syed Nawab Hussain Versus Assistant Commissioner of Income-tax
Overriding title on property – Held that:- There is no material to show that the brothers and sisters of the forefathers having any title over the property - The assessees have not placed any document to show that the payments to whom the assessees h ......
2013 (12) TMI 194 - ITAT HYDERABAD
The ACIT, Circle-6(1), Hyderabad Versus N. Raghu Varma
Deduction u/s 54B – The land was continuously used by the assessee for agricultural purposes - The agricultural income from the said property has been declared by the assessee in his return of income - Held that:- The land was entered in the revenue ......
2013 (9) TMI 559 - ITAT HYDERABAD
Smt. Gousia Begum And Others Versus Dy. Commissioner of Income-tax And Others
Agricultural income or not - AO denied the exemption and treated the same as income from other sources - Held that:- finding of the lower authorities goes against the revenue records which show that the land was under cultivation during the financia ......
2013 (9) TMI 237 - ITAT COCHIN
Shri Anwar Sadath and others Versus The Assistant Commissioner of Income-tax and others
Computation of capital gain - Capital asset or agricultural land - Sale of land - Difference between sale consideration shown in agreement to sell and conveyance deed - Held that:- certificates issued by village officer and the revenue authority - t ......
2013 (8) TMI 737 - ITAT COCHIN
Tony J Pulikal Pulickal House, Dr Xavier J Pulikkal Versus The Dy. CIT Cent. Cir. 1, Kochi
Disallowance of exemption u/s 54F - investment in residential house - The dispute is with regard to the area of the land which is required for convenient enjoyment of 254.94 sq.mts of residential house. - Deposit in capital gain deposit scheme - date ......