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1 - 10 of 11 (2.52 seconds)Section 52 in The Finance Act, 2018 [Entire Act]
The Finance Act, 2018
Section 54F in The Income Tax Act, 1961 [Entire Act]
Acit, New Delhi vs M/S Gtm Builders & Promoters Pvt. Ltd., ... on 10 February, 2021
In support of his submissions, the
ld.AR relied upon Co-ordinate Bench's decision in the case of DCIT
Vs. Shri Shantilal Prabhudas Patel in ITA No.267/Ahd/2018;
decision of the ITAT, Visakhapatnam Bench in the case of Lahiri
Promoters Vs. ACIT, in ITA No.12/Vizag/2009 dated 22.6.2010 and
another decision of the same Bench in the case of Moole Rami Reddy
Vs. ITO, in ITA No.311/Vizag/2010 dated 10.12.2010. The
ld.counsel for the assessee has filed some supporting evidences for
claiming exemption under section 54F of the Act and the
expenditure incurred for the construction of new house in the Paper
Book from page no.61 to 110. Affidavit of the contractor in support
of the claim of land improvement expenditure from page nos.111 to
113 of the Paper Book was filed by the assessee. Thus, the ld.AR
pleaded that the claim of the assessee is to be allowed.
Section 48 in The Income Tax Act, 1961 [Entire Act]
Section 43CA in The Income Tax Act, 1961 [Entire Act]
K.P. Varghese vs The Income Tax Officer,Ernakulam, And ... on 4 September, 1981
8.8. The Hon'ble Apex court in the case of K.P. Verghese, supra has
held that the provisions of section 52(2) that was existing at the
relevant point of time was not applicable to a honest and bona fide
transaction where the consideration received by the assessee was
correctly declared or disclosed by him and there was no concealment
or suppression of the consideration.
Section 144 in The Income Tax Act, 1961 [Entire Act]
A. Rami Reddy, Hyd., Hyderabad vs Ito,Ward-11(3), Hyd, Hyderabad on 4 August, 2017
In support of his submissions, the
ld.AR relied upon Co-ordinate Bench's decision in the case of DCIT
Vs. Shri Shantilal Prabhudas Patel in ITA No.267/Ahd/2018;
decision of the ITAT, Visakhapatnam Bench in the case of Lahiri
Promoters Vs. ACIT, in ITA No.12/Vizag/2009 dated 22.6.2010 and
another decision of the same Bench in the case of Moole Rami Reddy
Vs. ITO, in ITA No.311/Vizag/2010 dated 10.12.2010. The
ld.counsel for the assessee has filed some supporting evidences for
claiming exemption under section 54F of the Act and the
expenditure incurred for the construction of new house in the Paper
Book from page no.61 to 110. Affidavit of the contractor in support
of the claim of land improvement expenditure from page nos.111 to
113 of the Paper Book was filed by the assessee. Thus, the ld.AR
pleaded that the claim of the assessee is to be allowed.