Section 49 Archives - taxcaselaw.com

Bombay H.C : The Hon ble Income Tax Appellate Tribunal was justified in reckoning the period for long term capital gains from the date of purchase of convertible debentures instead of actual date of allotment of shares on conversion from debentures

High Court Of Bombay Kingfisher Capital Clo Ltd. vs. CIT (International Taxation) & Anr. Section 111, 49(2A), 47(xa) S. C. Dharmadhikari & B. P. Colabawalla, JJ. Writ Petition (St) No. 19262 OF 2018 27th March, 2019 Counsel Appeared: Porus F. Kaka, senior advocate with Divesh Chawala i/b Atul K. Jasani for the Petitioner.: Abhay Ahuja with …

Calcutta H.C : if the mortgage had been created by the previous owner and the assessee after inheriting the same had discharged the mortgage debt, the amount paid by the assessee for the purpose of clearing off the mortgage could be claimed as a part of cost of acquisition under Section 48 and Section 49 read with Section 55(2)

High Court Of Calcutta CIT vs. Aditya Kumar Jajodia Section 55(1)(b)(2)(ii), 45, 47, 49 Sanjib Banerjee & Abhijit Gangopadhyay, JJ. ITAT No. 114 of 2014 GA No. 2277 of 2014 20th July, 2018 Counsel appeared: Md. Nizamuddin, Adv. J. P. Khaitan, Sr. Adv. for the Petitioner THE COURT Two questions have been raised by the Revenue …

Bombay H.C : The life interest held by the assessee in Neville Wadia Trust No. 2 was an asset coming within the purview of Sec. 49(1)(ii) as it was acquired on the release executed by the previous life interest holder which amounted to a gift and therefore, the cost of the acquisition of asset would be deemed to be the cost of the original settlor

High Court Of Bombay Nusli N. Wadia vs. CIT, Central II, Bombay Section : 49 Assessment year : 1984-85 M.S. Sanklecha And A.K. Menon, JJ. IT Reference No. 55 Of 2000 March 10, 2017 JUDGMENT A.K. Menon, J. – This Reference under Section 256(1) of the Income-tax Act, 1961 (the Act) by the Income Tax Appellate …

Punjab & Haryana H.C : where the cost of acquisition of capital asset cannot be ascertained but the asset has a market value, capital gain will be attracted

High Court Of Punjab And Haryana (Fb) CIT Vs. Raja Malwinder Singh Assessment Year : 1977-78 & 1979-80 Section : 49 Adarsh Kumar Goel, Rajesh Bindal And Alok Singh, JJ. IT Reference Nos. 578 And 579 Of 1995 January 28, 2011 JUDGMENT Adarsh Kumar Goel, J.-This matter has been placed before this Bench in pursuance of …

Delhi H.C : Capital gains arises in hand of owner only

High Court Of Delhi CIT Vs. Shashi Charla Block period : 1-4-1996 to 24-9-2002 Section : 49 Badar Durrez Ahmed And V.K. Jain, JJ. IT Appeal Nos. 1322, 1323, 1326 And 1328 Of 2009 May 6, 2010 JUDGMENT Badar Durrez Ahmed, J. – CM 17469/2009, CM 17471/2009, CM 17474/2009 & CM 17478/2009 The delay in re-filing …

Gujarat H.C : Whether on the facts and in the circumstances of the case, the assessee was entitled to claim Rs. 14,33,000 as additional cost of acquisition of the interest in property for purposes of computation of capital gains ?

High Court Of Gujarat Lalitaben Hariprasad vs. CIT Section 48, 49, 171 Asst. Year 1988-89 D.A. Mehta & S.R. Brahmbhatt, JJ. IT Ref. No. 19 of 1998 18th March, 2009 Counsel Appeared : K.H. Kaji, for the Applicant : B.B. Naik, for the Respondent JUDGMENT D.A. MEHTA, J. : Both the reference and tax appeal are …

Kerala H.C : This appeal filed by the assessee is whether the assets sold by him viz., the hospital building and land on 18th April, 2001 is a short-term capital gain or a long-term capital gain as claimed by him

High Court Of Kerala P.P. Menon vs. CIT Section 2(42A), 49(1)(iii)(b) C.N. Ramachandran Nair & Harun-Ul-Rashid, JJ. IT Appeal No. 148 of 2008 1st December, 2008 Counsel Appeared : T.M. Sreedharan & V.P. Narayanan, for the Appellant : P.K.R. Menon & Jose Joseph, for the Respondent JUDGMENT C.N. ramachandran nair, J. : The question raised in …

Gujarat H.C : Whether, the Tribunal is right in law and on facts in holding in view of s. 49(1)(iii)(e) capital gain should be computed by taking the cost in the hands of the previous owner, namely, KPPL ?

High Court Of Gujarat CIT vs. Brahmi Investments (P) Ltd. Sections 46(2), 47(v), 48, 49(1)(iii)(e), 55(2)(b)(ii) Asst. Year 1988-89 D.A. Mehta & Ms. H.N. Devani, JJ. IT Ref. No. 102 of 1995 7th/10th February, 2006 Counsel Appeared B.B. Naik, for the Revenue : R.K. Patel, for the Assessee JUDGMENT D.A. Mehta, J. : The Tribunal, Ahmedabad …

Gujarat H.C : Whether, on the facts and in the circumstances of the case, the Tribunal is right in law in holding that the IT authorities were not justified in working out capital gains of Rs. 41,11,414 and including the same in the total income of the assessee ?

High Court Of Gujarat CIT vs. Mandharsinhji P. Jadeja Sections 45, 48, 49, 55 Asst. Year 1983-84 D.A. Mehta & Ms. H.N. Devani, JJ. IT Ref. No. 225 of 1991 9th/10th December, 2004 Counsel Appeared D.D. Vyas, for the Petitioner : Kamal Trivedi with R.K. Patel & Tejas Bardi, for the Respondent JUDGMENT D.A. Mehta, J. …

Delhi H.C : Whether, on the facts and in the circumstances of the case, the assets recovered by virtue of the decree of the High Court dt. 29th June, 1967, was in satisfaction of the loan of Rs. 5,00,000 inclusive of interest allegedly due to the assessee from the partnership and it became a part of the stock-in-trade of the assessee?

High Court Of Delhi Delhi Safe Deposits Co. vs. CIT Sections 48, 49 Asst. Year 1968-69, 1970-71 B.C. Patel, C.J. & Badar Durrez Ahmed, J. IT Ref. Nos. 101 to 103 of 1979 19th February, 2004 Counsel Appeared P.N. Chawla, for the Applicant : Ajay Jha & R.C. Pandey, for the Respondent JUDGMENT B.C. Patel, C.J. …

Category: Section 49