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Income Tax Case Laws - Section: 50C


Income Tax

Cases for Section: 50C

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Showing 1 to 15 of 247 Records

2015 (3) TMI 672 - ITAT MUMBAI

Bhawanishankar H. Sharma Versus Asst. CIT, Central Circle- Mumbai

Computation of capital gain - CIT(A) replacing the sale consideration to the stamp duty valuation invoking provisions of section 50C - Reference to DVO - CIT(A) considering the Cost of Acquisition of the Land as on 01.04.1981 and treating the Cost of ......

2015 (3) TMI 606 - ITAT JAIPUR

Kailash Chand Garg Thru: Legal Heir Smt Manju W/O Deceased Assessee Prop. Garg Sari Centre, Kota Versus Income Tax Officer

Computation of Long term capital gain - dis-allowance of expenditure u/s 48 which was found as unexplained u/s 69C - assessee contends that once section 50C is to be held applicable and the asset and sale thereof is held to be long term capital gains ......

2015 (3) TMI 316 - ITAT LUCKNOW

Smt. Savitri Devi Versus ACIT Smt. Surinder Kaur, Shri Kunwar Pal Singh, Shri Paramjeet Singh, Dadarian Purwa, Kanpur, Shri Paramjeet Singh, Shri Ramandeep Singh Versus Dy. CIT

Penalty u/s 158BFA(2) - undisclosed peak investment in business and undisclosed interest earned on pawing items given to others - Tribunal allowed part relief - Held that:- Since the addition was made on estimate basis, penalty u/s 158BFA(2) is not j ......

2015 (3) TMI 52 - ITAT AHMEDABAD

M/s. Diamdell Intermediates Pvt. Ltd. C/o. Hemanshu M. Parikh Versus The Dy. CIT (OSD), Range-I, Ahmedabad

Short-Term capital gain u/s 50 - sale of factory building and structure constructed on the lease hold land - payment of additional stamp duty - non application of section 50C as the depreciating asset was transferred contented by assessee - Held that ......

2015 (3) TMI 48 - ITAT MUMBAI

Income-tax Officer-15(3) (3) Versus Iqbal Gulam Hussain Qureshi

Unexplained investments in a residential flat - gap of eight years for transfer of title - CIT(A) deleted the addition - Held that:- It is surprising that one would wait for nearly eight years for transfer of title. The parties generally, to ensure p ......

2015 (3) TMI 47 - ITAT MUMBAI

Maanraj Trading P. Ltd. (Now under Liquidation) Versus ITO CIR 6(3) (3), Mumbai

Income from sale of investment - business income v/s capital gain - Held that:- So far as sale of shares/investment and the income arising from such sales have been treated as business income by the department which has been upheld by the Tribunal ri ......

2015 (2) TMI 663 - ITAT MUMBAI

Seksaria Industries Pvt. Ltd. Versus Income Tax Officer, Ward 2(3) (2), Mumbai

Adoption of the sale consideration for the purpose of computation of capital gain - transfer of reversionary rights in land - as per assessee sale consideration cannot be taken more than the actual sale consideration shown in the transfer deed, i.e., ......

2015 (2) TMI 548 - ITAT MUMBAI


Validity of reopening of assessment - assessee has offered capital gain from the sale of immovable property in the assessment year 2008-09 - Held that:- Since the assessee has not filed any return of income for the assessment year under consideration ......

2015 (2) TMI 248 - ITAT PUNE

Asstt. Commissioner of Income Tax Versus M/s. The Gujarat Tea Traders Pvt. Ltd.

Addition u/s 50C - CIT(A) deleted the addition - Held that:- While holding that the transaction was sale of a capital asset, the Assessing Officer did not apply the relevant provisions to calculate the assessable capital gains income. Instead, he pic ......

2015 (2) TMI 197 - ITAT MUMBAI

ACIT 12(1), Mumbai Versus M/s. Asian Marble Industries

Conversion of capital asset to stock in trade - date of conversion - admission of additional evidence - market value adopted by AO for the purpose of calculation of capital gains by invoking the provisions of section 50C - Held that:- Ld. CIT(A) had ......

2015 (1) TMI 609 - ITAT DELHI

ITO Ward-5(1) New Delhi Versus M/s. Modipon Ltd.

Determination of capital gain on transfer of plot of land at Ghaziabad - Held that:- By executing the sale deed in June, 2005, the assessee has only completed the contractual obligation imposed upon it by virtue of the sale agreement, Since the proce ......

2015 (1) TMI 50 - ITAT PUNE

The Income Tax Officer Versus Shri Balkawade Sadanand Dhanaji Kumbharwadi

Assessability of profit on sale of development rights in land - Business income or capital gain – Applicability of section 50C - Whether while assessing the income under the head ‘income from short term capital gain’, the provisions of section 50C of ......

2014 (12) TMI 1069 - BOMBAY HIGH COURT

Commissioner of Income Tax-18 Versus Sambhaji Nagar Co-Op- Hsg. Society Ltd.

Transfer of Development Rights (TDR) - Chargeability to capital gain - Invocation of section 50C - Addition under the head LTCG – computation of the sale of TDR – Held that:- The Tribunal was rightly of the view that while it is true that the AO invo ......

2014 (12) TMI 89 - ITAT DELHI

ACIT, Circle 25(1), New Delhi Versus Mr. Satya Parkash Shokeen

Deletion of unexplained investment – Penalty u/s 271(1)(c) - Whether the CIT(A) erred in accepting self-serving documents not corroborated by cross examination or produced before the AO - Held that:- Following the decision in THE COMMISSIONER OF INCO ......

2014 (12) TMI 88 - ITAT PUNE

Income Tax Officer Versus Shri Bharat Vadilal Shah

Assessability of transaction in respect of sale of lands – Co-owner of the land – Assessee or M/s Viraj Estates Pvt. Ltd. liable to be taxed – Held that:- Following the decision in Income Tax Officer, Ward- 4 Versus Shri Manohar Shridhar Patil [2014 ......



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