2014 (10) TMI 710 - ITAT KOLKATA
Income-tax Officer Versus M/s. Onkarmal Kajaria Family Trust
Reference made u/s 55A - Transaction of immovable property against the actual deed of conveyance Adoption of FMV as on 01.04.1981 - Computation of LTCG Held that:- The long term capital gains arising out of transaction of this property will be as ......
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 ......
2014 (10) TMI 542 - MADRAS HIGH COURT
A. Jesu Rajendran Versus The Commissioner of Income Tax
Maintainability of writ petition - AO rejected the request of assessee to refer the matter to DVO u/s 50C - alternative remedy - Held that:- As the purchaser, which was a Government concern, has not taken any steps u/s 47A of the Indian Stamp Act and ......
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 (10) TMI 783 - BOMBAY HIGH COURT
Commissioner of Income Tax Versus M/s. Fortune Hotels And Estates Pvt. Ltd.
Penalty u/s 271(1)(c) Addition of deemed income u/s 50C - Whether the Tribunal was right in holding that the penalty cannot be imposed with reference to addition of deemed income u/s 50C Held that:- The Tribunal was rightly of the view that this ......
2015 (2) TMI 548 - ITAT MUMBAI
PRAKASH SHANTILAL PAREKH Versus THE INCOME TAX OFFICER - 19(2) (4) 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 ......
2014 (9) TMI 497 - ITAT AMRITSAR
Nitco Logistics Pvt. Ltd. Versus Joint Commissioner of Income Tax
Nature of receipts - Dharmarth Receipts OR not Whether the provisions of Section 50C of the Act are applicable to the case of a purchaser also - Held that:- The income under the head "capital gains" is applicable to the sale of immovable property, ......
2014 (10) TMI 747 - PUNJAB & HARYANA HIGH COURT
The Commissioner of Income Tax Versus Shri Gurdip Singh Sidhu
Applicability of section 50C - Cases of transfer of land or building where the transaction was not registered with the stamp duty valuation authority within the purview of section 50C or not - Valuation of agricultural land as on 1.1.1981 Held that ......
2014 (10) TMI 608 - ITAT HYDERABAD
K. Rama Swamy, K. Amarnath, K. Ashok Kumar Versus Income Tax Officer
Computation of capital gain u/s 50C(1) Adoption of FMV determined by the Stamp Valuation Authority for the purpose of stamp duty - Capital gains on sale of agriculture - land Held that:- Land sold is a capital asset as defined u/s 2(14) of the Act ......
2014 (8) TMI 719 - ITAT MUMBAI
Asstt. Commissioner of Income Tax Versus M/s. Manubhai A. Sheth Larger (HUF)
Computation of LTCG on sale of two plots of land Valuation of stamp duty Held that:- Following the decision in Asst. Commissioner of IT. 12(1), Mumbai Versus M/s Manubhai A Sheth Larger HUF [2012 (9) TMI 682 - ITAT MUMBAI] - The property had alr ......
2014 (9) TMI 13 - MADRAS HIGH COURT
Appadurai Vijayaraghavan Versus The Joint Commissioner of Income Tax (OSD), Income Tax Department
Applicability of section 50C Adoption of valuation made by DVO - Evidentiary value of registered document LTCG on transfer of capital asset - Held that:- Relying upon S.Muthuraja V. CIT [2013 (8) TMI 40 - MADRAS HIGH COURT] -when an objection is ......
2014 (9) TMI 3 - MADRAS HIGH COURT
Mrs. Sakunthala Vedachalam, Mrs. Vanitha Manickavasagam Versus The Assistant Commissioner of Income Tax
Nature of land sold Agricultural or not Invocation of section 50C Exemption of LTCG - Whether the lands sold by the assessees are agricultural lands and whether they are entitled to the benefit of exemption from capital gains tax Held that:- ......
2014 (8) TMI 600 - DELHI HIGH COURT
CIT XI Versus Mr. Lajpat Rai Taneja
Invocation of section 50C Circle rate referred at starting point Addition u/s 69 Held that:- The difference between the circle rate and the amount paid was brought to tax as unexplained investment - Revenue has not relied upon Section 50C of th ......
2014 (8) TMI 61 - ITAT DELHI
Income Tax Offier Versus Shri Laxman Giri
Penalty u/s 271(1)(c) Capital gains liability u/s 50C Held that:- The calculation of capital gains was nil and on this belief transaction was not disclosed in assessees return of income - the assessee became liable for capital gain and he offe ......
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 ......