DCIT, NEW DELHI vs. M/S. MARUTI SUZUKI INDIA LTD., NEW DELHI

In the result, all the three appeals of the assessee are allowed as indicated above and the appeal of Revenue is partly allowed

Bench: Shris.Rifaur Rahman & Shri Vimal Kumar

income, the appellant claimed long-term capital loss of Rs.220 crores and net short term capital gain of Rs.6.91 crores. The assessing officer however, simply following the assessment order for AY 2010-11 treated the aforesaid “capital gains” as “business

ASSISTANT COMMISSIONER OF INCOME TAX, DELHI vs. VIREET INVESTMENTS PRIVATE LIMITED, DELHI

In the result, the appeal filed by the revenue is partly allowed

Bench: Shri S.Rifaur Rahman & Shri Sudhir Kumaracit, Circle 17 (1) Vs. Vireet Investments Pvt. Ltd., Delhi. 21D, Friends Colony West, New Delhi – 110 065. (Pan : Aaacv2033M) (Appellant) (Respondent) Assessee By : Shri Manish Jain, Ca Revenue By : Ms. Sapna Bhatia, Cit Dr Date Of Hearing : 04.09.2024 Date Of Order : 06.11.2024 Order Per S.Rifaur Rahman,Am: 1. The Appeal Has Been Filed By The Assessee Against The Order Of The Learned Commissioner Of Income Tax (Appeals), Delhi/National Faceless Appeal Centre (Nfac) [“Ld. Cit(A)”, For Short] Dated 28.12.2023 For The Assessment Year 2004-05. 2. Brief Facts Of The Case Are, Assessee Filed Its Return Of Income For Assessment Year 2004-05 On 31.10.2004 Declaring Income Of Rs.34,80,69,911/-. The Same Was Processed Under Section 143 (1) Of The 2 Income-Tax Act, 1961 (For Short ‘The Act’) On 28.12.2004. The Case Was Selected For Scrutiny & Notices U/S 143(2) & 142(1) Of The Act Were Issued & Served On The Assessee. In Response, Ld. Ar For The Assessee Attended From Time To Time & Submitted Relevant Information As Called For. 3. The Assessee Was Incorporated On 03.10.1983 With The Main Objects, As Per Memorandum Of Association, To Acquire & Hold Shares, Stocks, Debentures, Debenture Stocks, Bonds, Obligations & Securities Issued Or Guaranteed By Any Company Constituted Or Carried On Business In The Republic Of India. After Considering The Submissions Of The Assessee, The Assessing Officer Proceeded To Make The Following Additions In The Assessment Completed U/S 143 (3) Of The Act :-

gain as declared by the assessee. The undersigned is also satisfied that the assessee by claiming business income of Rs.367,965,338/- [368782299 (assessed business income) - 816961 (declared business income)) as income from capital

SAT SAHIB SECURITIES PVT. LTD.,DELHI vs. DCIT, CIRCLE-7(1), NEW DELHI

In the result the appeal of the assessee is allowed

Bench: Sh. S. Rifaur Rahman & Sh. Sudhir Kumarassessment Year: 2006-07 M/S. Sat Sahib Securities Pvt. Vs Dcit Ltd. Pvt. Ltd., B-129, Anand Circle – 7 (1) Vihar, New Delhi-110092 New Delhi Pan No.Aabcs2456G (Appellant) (Respondent)

Business 143(3) Capital Capital 67-75 Gain Gain income Gain 2010-11 Capital Business 143(3) Capital Capital 76-89 Gain

ADDL. CIT, SPECIAL RANGE-7, NEW DELHI vs. PURAN ASSOCIATES PVT. LTD., NEW DELHI

In the result, the appeal of the Revenue is partly allowed

Bench: Shri Challa Nagendra Prasad & Shri Pradip Kumar Kedia

Gain as per the details incorporated above. The income earned by the assessee from various sources was as under: - Particular Asset Type Amount s Income a)Trading in units of 360,77,965 from Mutual Funds; Business b) Income from Interest; (A) c)Incentive and Miscellaneous Income Income Income from Capital

PURAN ASSOCIATES PVT. LTD.,NEW DELHI vs. DCIT, CIRCLE-20(1), NEW DELHI

In the result, the appeal of the assessee is allowed partly

Bench: Shri Kul Bharat & Shri O.P. Kant[Through Video Conferencing] Assessment Year: 2014-15

Gain as per the details incorporated above. The income earned by the assessee from various sources was as under: - Particulars Asset Type Amount Income from a)Trading in units of Mutual 360,77,965 Business (A) Funds; b) Income from Interest; c)Incentive and Miscellaneous Income Income from Income from Capital

MR. NIKHIL SAWHNEY,NEW DELHI vs. ACIT, NOIDA

In the result, appeal of the assessee is dismissed

Bench: Shri Bhavnesh Saini & Shri Prashant Maharishimr. Nikhil Sawhney Acit, 17 – Sunder Nagar, Central Circle, Vs. New Delhi – 110 003. Noida. Pan: Aaups0222Q (Appellant) (Respondent)

income from house property, profits and gains of business or profession, capital gains, income from other sources. Chapter V then

PURAN ASSOCIATES PVT. LTD.,NEW DELHI vs. ACIT, NEW DELHI

In the result, appeal of the assessee is partly allowed

Bench: Shri Bhavnesh Saini & Shri O.P. Kant, Accountantmember

Gain as per the details incorporated above. The income earned by the assessee from various sources was as under: - Particulars Asset Type Amount Income from a)Trading in units of Mutual 360,77,965 Business (A) Funds; b) Income from Interest; c)Incentive and Miscellaneous Income Income from Income from Capital

ACIT, NEW DELHI vs. M/S. VIC ENTERPRISES PVT. LTD., NEW DELHI

In the result, the appeal of the revenue is dismissed

Bench: Sh. N. K. Choudharydr. B. R. R. Kumarita No. 1893/Del/2017 : Asstt. Year : 2011-12 Assistant Commissioner Of Vs M/S Vic Enterprises Pvt. Ltd., 4Th Floor, Punjabi Bhawan, 10, Income Tax, Circle-26(1), New Delhi-110002 Rouse Avenue, New Delhi (Appellant) (Respondent) Pan No. Aaacv0132B Assessee By : Sh. M. P. Rastogi, Adv. Revenue By : Sh. H. K. Choudhary, Cit Dr Date Of Hearing: 06.02.2020 Date Of Pronouncement: 07.02.2020

income against capital gain offered by the assessee either under long term capital gain or short term capital gain depending upon the period of holding of shares. 37. The assessee claimed Rs.25,59,09,101 as long term capital gain which has been treated by the assessee as business

MR. SUNIL GOYAL,NOIDA vs. ITO, NEW DELHI

Appeal is disposed of in accordance with the aforesaid directions

Bench: Shri Amit Shukla & Shri Anadee Nath Misshra

income filed with the return by Sunil Goyal for A.Y. 2006-07 clearly shows long term capital gain worked out at Rs. 1,32,11,569/- from the sale of shares and the capital gain at 20% thereon has been worked out and paid. However, the AO split the capital gain to treat a substantial part thereof as business

ACIT, NEW DELHI vs. M/S. PURAN ASSOCIATES (P) LTD., NEW DELHI

In the result appeal of the revenue is dismissed

Bench: Shri Amit Shukla & Prashant Maharishi

business income or capital gain. The Assessing Officer has summarized the following income shown under the head ‘Capital Gain’ as business

ACIT, NEW DELHI vs. M/S. PURAN ASSOCIATES PVT. LTD., NEW DELHI

In the result, the appeal of the Revenue is partly allowed for statistical purposes

Bench: Shri Amit Shukla & Shri O.P. Kant

business income or capital gain. The Assessing Officer has summarized the following income shown under the head ‘Capital Gain’ as business

DCIT, NEW DELHI vs. M/S. PURAN ASSOCIATES PVT. LTD., NEW DELHI

In the result, the appeal of the Revenue is partly allowed for statistical purposes

Bench: Shri Amit Shukla & Shri O.P. Kant

business income or capital gain. The Assessing Officer has summarized the following income shown under the head ‘Capital Gain’ as business

ACIT, NEW DELHI vs. M/S PURAN ASSOCIATES PVT. LTD., NEW DELHI

In the result, the appeal of the Revenue is partly allowed for statistical purposes

Bench: Shri Amit Shukla & Shri O.P. Kant

business income or capital gain. The Assessing Officer has summarized the following income shown under the head ‘Capital Gain’ as business

ACIT, NEW DELHI vs. M/S. SHRI HARI INVESTMENT, NEW DELHI

In the result appeal of the revenue for both the assessment years are dismissed

Bench: Shri Amit Shukla & Shri Prashant Maharishi

gain as against business income treated by AO when the sole intention of the assessee was to earn profit?" 2. The brief facts of the case are that the assessee firm is engaged in the business of shares, securities and mutual funds and apart from business income, the assessee had also declared income from capital

ACIT, NEW DELHI vs. M/S. SHRI HARI INVESTMENT, NEW DELHI

In the result appeal of the revenue for both the assessment years are dismissed

Bench: Shri Amit Shukla & Shri Prashant Maharishi

gain as against business income treated by AO when the sole intention of the assessee was to earn profit?" 2. The brief facts of the case are that the assessee firm is engaged in the business of shares, securities and mutual funds and apart from business income, the assessee had also declared income from capital

ACIT, NEW DELHI vs. M/S DATAVISION SYSTEMS (P) LTD., NEW DELHI

In the result ground No. 1 of the appeal of the Revenue is dismissed

Bench: Shri I.C.Sudhir & Shri Prashant Maharishi & Acit, Vs. Datavision Systems P Ltd, Circle-10(1), 203, Pragati House, New Delhi 47-48, Nehru Place, New Delhi Pan:Aaacd3381N (Appellant) (Respondent)

Gain” instead of business income as assessed by the Assessing Officer?” 13. The assessee filed its return of income on 23.09.2008 showing income of Rs. 120213170/-. During the year the assessee is engaged in the business of providing consultancy services and has earned income of Rs. 1735580/- from house property, business income of Rs. 109826094/-, and short term capital

ACIT, NEW DELHI vs. M/S ASCOT INVESTMENTS, NEW DELHI

In the result this ground is dismissed

Bench: Shri S.V. Mehrotra : & Shri Sudhanshu Srivastava:

business and profession, income from capital gains and dividend income and interest income. The AO, after examining the assessee’s sales

DCIT, NEW DELHI vs. M/S VIC ENTERPRISES PVT. LTD., NEW DELHI

Bench: Shri I.C. Sudhir & Shri L.P. Sahu Assessment Year: 2006-07 Deputy Cit, Vs. Vic Enterprises Pvt. Ltd., 4Th Floor, Punjabi Bhawan, Circle-17(1), New Delhi. 10-Rouse Avenue, New Delhi. (Pan: Aaacv0132B) (Appellant) (Respondent) Assessment Year: 2008-09 Asstt. Cit, Vs. Vic Enterprises Pvt. Ltd., 4Th Floor, Punjabi Bhawan, Circle-17(1), New Delhi. 10-Rouse Avenue, New Delhi. (Pan: Aaacv0132B) (Appellant) (Respondent)

income against capital gain offered by the assessee either under long term capital gain or short term capital gain depending upon the period of holding of shares. 37. The assessee claimed Rs.25,59,09,101 as long term capital gain which has been treated by the assessee as business