DCIT, NEW DELHI vs. DR. PRANNOY ROY, NEW DELHI

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

capital gain on sale of shares of New Delhi television limited assessee has shown sale of 625000 shares @ Rs. 452.25 per share on 19/6/2008. From the above sale consideration, assessee has deducted

DCIT, NEW DELHI vs. MRS. RADHIKA ROY, NEW DELHI

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

capital gain on sale of shares of New Delhi television limited assessee has shown sale of 625000 shares @ Rs. 452.25 per share on 19/6/2008. From the above sale consideration, assessee has deducted

SMT. RADHIKA ROY,,NEW DELHI vs. DCIT, NEW DELHI

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

capital gain on sale of shares of New Delhi television limited assessee has shown sale of 625000 shares @ Rs. 452.25 per share on 19/6/2008. From the above sale consideration, assessee has deducted

DR. PRANNOY ROY,,NEW DELHI vs. DCIT, NEW DELHI

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

capital gain on sale of shares of New Delhi television limited assessee has shown sale of 625000 shares @ Rs. 452.25 per share on 19/6/2008. From the above sale consideration, assessee has deducted

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

In the result, appeal of the assessee is dismissed

Bench: Shri M. Balaganesh & Shri Vimal Kumarmr. Nikhil Sawhney, Vs. Dcit, 17, Sunder Nagar, Central Circle, New Delhi-11003 Noida (Appellant) (Respondent) Pan: Aaups0222Q

capital gain, which is arrived at after deducting cost of acquisition i.e. cost of any improvement and expenditure incurred in connection

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

capital gain by following the earlier decision of CIT(A)'s principle of consistency. 2) On the facts and under circumstances of the case, the Ld. CIT(A) erred in deleting the addition of Rs.25,57,020/- by ignoring the mandatory procedure prescribed under Rule 8D of the IT Rules r.w.s 14A of the IT Act. 3) On the facts

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

capital gain by following the earlier decision of CIT(A)'s principle of consistency. 2) On the facts and under circumstances of the case, the Ld. CIT(A) erred in deleting the addition of Rs.25,57,020/- by ignoring the mandatory procedure prescribed under Rule 8D of the IT Rules r.w.s 14A of the IT Act. 3) On the facts

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

capital gain by following the earlier decision of CIT(A)'s principle of consistency. 2) On the facts and under circumstances of the case, the Ld. CIT(A) erred in deleting the addition of Rs.25,57,020/- by ignoring the mandatory procedure prescribed under Rule 8D of the IT Rules r.w.s 14A of the IT Act. 3) On the facts

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)

capital gain, which is arrived at after deducting cost of acquisition i.e. cost of any improvement and expenditure incurred in connection

SUPERB MIND HOLDING LTD. ,NEW DELHI vs. ACIT CIRCLE INT TAX 3(1)(2), NEW DELHI

In the result, appeal of the assessee is allowed

Bench: Shri G.S. Pannu, Hon’Ble & Shri Challa Nagendra Prasadआ.अ.सं/.I.T.A No.1568/Del/2022 िनधा"रणवष"/Assessment Year: 2018-19

capital gain, is not liable to tax in India and thus, the amount of tax deducted by the buyer needs

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 :-

deducted under the head ‘capital gain’ are, which are incurred in connection with the transfer of capital assets, acquisition of cost

NEELU ANALJIT SINGH,NEW DELHI vs. ADDL.CIT, SPECIAL RANGE-9, NEW DELHI

In the result, appeal filed by the assessee is partly allowed with above directions

Bench: Shri H. S. Sidhu & Shri Prashant Maharishimrs. Neelu Analjit Singh, Vs. The Addl. Commissioner Of 15, Dr. Apj Abdul Kalam Road, Income Tax , New Delhi Special Range-9, Pan: Aatps06882D New Delhi (Appellant) (Respondent)

deducted the cost of acquisition as shown by the assessee of INR 3802352900/– and computed consequent short-term capital gain

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

capital gain after availing deduction / exemption u/s. 54EC on investment of Rs. 1,01,50,000/- has been shown at Rs. 30,61,732/-. The AO in his order

ESSAR COMMUNICATIONS LIMITED,MAURITIUS vs. ACIT, CIRCLE-1 (2)(2), NEW DELHI

Bench: SHRI SATBEER SINGH GODARA (Judicial Member), SHRI S. RIFAUR RAHMAN (Accountant Member)

deduction of tax at source @ 21.012% i.e., INR 28,21,21,70,693. a. The Assessee, in the return of income itclaimed that the capital gain

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

capital gain. The ground No.2 relates to disallowance of ₹ 53,16,568/- 3. under section 14A read with rule 8D of Income Tax Rules, 1962. The assessee disclosed income of ₹ 28.3 crores and made disallowance of ₹ 10,82,334/-, under section 14A of the Act as under: 16 ITA No. 3785/Del./2017 3.1 The action of the assessee of reducing

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

In the result, both the appeals of the assessee are allowed

Bench: Shri M. Balaganesh & Shri Sudhir Kumar

capital gain, which is arrived at after deducting cost of acquisition i.e. cost of any improvement and expenditure incurred in connection

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

In the result, both the appeals of the assessee are allowed

Bench: Shri M. Balaganesh & Shri Sudhir Kumar

capital gain, which is arrived at after deducting cost of acquisition i.e. cost of any improvement and expenditure incurred in connection

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

capital gain.” 4.4 Hence, respectfully following the finding of the Tribunal (supra) the Grounds 1 and 2 are accordingly allowed in favour of the assessee. 5. The Grounds No. 3 relates to disallowance under Section 14A read with Rule 8D of the Income Tax Rules, 1962 (in short ‘the Rules’) 5.1 The facts in brief qua the issue in dispute