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Income Tax Case Laws - Section: 54B

 
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Cases for Section: 54B
Showing 1 to 15 of 74 Records
 

2015 (5) TMI 580 - ITAT DELHI

ITO Versus Kanwar Pal Rajput

Disallowance of deduction u/s 54B - non utilization of capital gain before the due date of furnishing of the return - investment in the agricultural land - CIT(A) deleted the disallowance - assessee sold urban agricultural land and claimed the deduct.....

2014 (12) TMI 301 - ITAT HYDERABAD

Income Tax Officer Versus Shri G. Raghavendra Rao, Hyderabad

Assessment of capital gain on sale of land at Maqta Mehaboobpet Held that - AO came to the conclusion that there is transfer of capital asset i.e. land admeasuring acre 1.235 guntas by assessee to MDPL by solely relying upon the agreement of sale-cum.....

2015 (2) TMI 572 - ITAT PANAJI

Income Tax Officer Versus Mr. Tome Hilitor Silvester De Oliveira

Capital gain on transfer of land used for agricultural purposes not to be charged in certain cases - whether CIT(A) erred in allowing the deduction U/S 54B without considering the basic condition of the said section the assessee should have used the .....

2015 (3) TMI 186 - ITAT BANGALORE

Smt. Veena N Versus Income Tax Officer Bangalore

Exemption u/s 54B disallowed - Held that - The contention of the Assessing Officer is that the assessee failed to produce the evidence indicating the user of the land. On the other hand the assessee has submitted copy of the Revenue record maintained.....

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 allowed.....

2014 (5) TMI 1032 - ITAT CHANDIGARH

Shri Bant Singhv Versus The ITO, Ward-3(2), Ludhiana

Deduction u/s 54B - new land purchased by the assessee was in the name of Nirmal Singh that is the son of the assessee - Held that - assessee is basically an agriculturalist and is aged about 75 years. Further the land which was sold by the assessee .....

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 of .....

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 reopen.....

2014 (4) TMI 1044 - ITAT COCHIN

Shri TS. Vasudevan Elayath Versus Dy. CIT, Cir. 1 Aluva

Exemption under section 54B - Held that - Since the main issue with regard to exemption under section 54B is remitted back to the file of the Assessing Officer, this Tribunal is of the considered opinion that the fair market value also needs to be re.....

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 (10) TMI 775 - ITAT DELHI

ACIT, Circle-II, Faridabad Versus Sh. Dinesh Verma, House of Taxman, 1A/121 NIT

Admission of additional evidence Held that - There was no infirmity in the order of CIT(A) in admitting the additional evidence - Revenue has not raised any ground challenging the additional ground admitted by CIT(A) - After an additional ground is a.....

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 resi.....

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 ove.....

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 before.....

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 has t.....

 
   
 
 
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