施工実績

S. 50C: Resource Gain – full-value away from planning – the importance observed because of the stamp valuation expert towards the date from agreement you need to take since the full-value out-of purchases consideration

New Assessee possessed dos plots which have been bought toward twenty-four-08-2007. The Assessee next inserted into the a sale agreement old 12-03-2008 into income from both the plots of land to a different organization. Appropriately, the new Assessee declared a preliminary-title capital gain only in the year in question relating to your product sales off plots.

New AO learned that there clearly was a search in case there are the consumer got marketed this type of plots once changing with the small plots and you may exhibited grand profits in individual courses that has been set out of up against losses available for sale away from products.

It actually was subsequent held that according to the specifications away from part 50C of your own Act, in which go out away from arrangement and you can big date out of registration varies (such as the present case) the stamp responsibility well worth would be pulled however, merely however if where consideration or region thereof could have been gotten up until the time from agreement.

Tribunal upheld the seeking from CIT(A) click reference one zero addition will be manufactured in the present case within the lack of people incriminating question and appropriately erased the newest inclusion produced because of the AO. But not, for the merits of the case, Tribunal kept the Assessee had received a tiny consideration within the amount of time from agreement and this CIT(A) interested in to your the amount you to definitely Assessee would rating advantage of proviso away from section 50C of the Work are wrong.

About influence, the fresh inclusion produced was removed because of the Tribunal although to your deserves of the situation, Tribunal influenced against the Assessee.

not, in the current instance, whilst position placed down because of the section 50C was not came across, CIT(A) held that Assessee’s circumstances is included by the part 50C and therefore deleted brand new introduction made by this new AO

S. 54B : Difference – Allowability to HUF – Exemption available even in advance of modification of the Finance Operate, 2013 – Amendment try clarificatory in general – People is sold with individual also HUF – HUF eligible to advantage of sec 54B.

Assessee had stated exception to this rule u/s 54B and you may you/s 54F that has been rejected according to Order you/s 143(3). CIT(A) enjoy provided limited recovery and you may invited exemption you/s 54F, but confirmed denial out-of exemption u/s 54B.

Toward attention brand new Tribunal kept one assessee HUF is eligible to advantageous asset of sec 54B of your own Operate for following the factors :

The expression assessee found in s 54B, got constantly incorporated HUF, and further this new modification earned by Finance Act, 2013 of the keeping “the new assessee becoming just one or their mother or father otherwise an (HUF)” is actually clarificatory in general.

O [I Income tax Statutes, 1962 r 11UA]

Keyword ‘person’ as outlined for the s 2(31) is sold with private along with HUF and that HUF try named to benefit you/s 54B.

Advantage of question according regarding taxability regarding difference would be to be given to help you assessee in lieu of to help you funds. (AY. 2012-13)

S. 54F: Resource development – Exemptions – financial support internally possessions during the label out of assessee’s widowed daughter is deductible – head nexus between deals believe obtained and financing internally property.

Stored you to definitely, nothing is in the s.54F showing that home should be bought in term away from assessee only. Since there was a primary nexus between purchases attention gotten and you can utilized investing residential household in title from married widowed dount purchased purchase of domestic family inside d -17)

S. 56(2)(viib): Income from other source – Issue of offers within a made – Determination of fair market price – Well worth getting then followed sometimes depending on method prescribed in the roentgen. 11UA or FMV showed up from the assessee properly corroborated to help you pleasure off A.