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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 241 Records

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 ......

2014 (12) TMI 71 - ITAT PUNE

Income Tax Officer, Ward- 4 Versus Shri Manohar Shridhar Patil

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 – Whether the income arising as a result of the Development Agreement dated 30.12.2003 executed by assessee a ......

2014 (11) TMI 525 - ITAT MUMBAI

The Asst. Commissioner of Income tax Versus M/s. Dilip Nabera (HUF)

Application of section 50C and addition to be made u/s 69C – Held that:- Both the sections operate independently i.e. to say that section 50C shall bet attracted where there is a transfer of property by the assessee and receives sales consideration - ......

2014 (11) TMI 395 - ITAT LUCKNOW

Asstt. CIT-1, Kanpur Versus M/s The Upper India Chamber of Commerce

Capital gain on sale of property in the hands of charitable society – Application of provisions of section 50C – Held that:- The assessee is a charitable society and is registered u/s 12A of the Act – CIT(A) was rightly of the view that section 11(1 ......

2014 (11) TMI 340 - ITAT HYDERABAD

Smt. Bhavya Anant Udeshi Versus Income-tax Officer (International Taxation)

Miscellaneous Application – Rectification of mistake apparent from record or not - Applicability of section 50C – Speaking order passed by Tribunal or not – Held that:- A plain reading of section 50C as a whole makes it clear that filing of an appeal ......

2014 (11) TMI 88 - ITAT AHMEDABAD

Smt. Sandhyaben A. Purohit Versus The ITO Ward-7(2) Ahmedabad

Validity of reopening of assessment u/s 148 – Notice issued within prescribed limit - Held that:- On receiving of an information the AO had proceeded u/s.148 of the Act by issuing a notice dated 6.12.2006 relevant for A.Y. 2004-05 - The time limit pr ......

2014 (11) TMI 4 - ITAT DELHI

DCIT, Circle 32(1), New Delhi Versus Sh. Ganga Singh C/o. Ms. Seema Sahai

Benefit of indexation not given – Computation of capital gain for sale of two plots – No evidence for ascertainment of date - Held that:- As decided in ARUN SHUNGLOO TRUST Versus CIT [2012 (2) TMI 259 - DELHI HIGH COURT] - the cost of acquisition as ......



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