ITA Nos. 601/2011 & 602/2011 vs. ANSAL PROPERTIES & INFRASTRUCTURE LTD.

The appeals are disposed of

depreciation, short term capital gain would not be payable. However, if there is surplus, then short term capital gain would

MARUTI SUZUKI INDIA LTD.,NEW DELHI vs. DCIT, 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

depreciation under section 32 of the Act, consistent with his finding that the aforesaid expenditure is capital in nature. 9. That the assessing officer /DRP erred on facts and in law in treating gains

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

depreciation under section 32 of the Act, consistent with his finding that the aforesaid expenditure is capital in nature. 9. That the assessing officer /DRP erred on facts and in law in treating gains

NINA KSHETRY,NOIDA vs. ACIT, CIRCLE INT.TAX. 2(1)(2), NEW DELHI

In the result, the appeal of the assesses in ITA 1876/Del/2023, ITA

Bench: Sh. C.N. Prasad & Sh. Naveen Chandraassessment Year: 2016-17

gains in case of depreciable assets is not applicable to the present proceedings as this section is applicable in cases where depreciable assets in the block of assets are transferred. Shares do not fall in the block of assets and are not depreciable assets and no depreciation is allowed on them. The shares are only investments and capital

HERSH VARDHAN KSHETRY,NOIDA vs. ACIT, CIRCLE INT. TAX. 2(1)(2), NEW DELHI

In the result, the appeal of the assesses in ITA 1876/Del/2023, ITA

Bench: Sh. C.N. Prasad & Sh. Naveen Chandraassessment Year: 2016-17

gains in case of depreciable assets is not applicable to the present proceedings as this section is applicable in cases where depreciable assets in the block of assets are transferred. Shares do not fall in the block of assets and are not depreciable assets and no depreciation is allowed on them. The shares are only investments and capital

SANGITA KSHETRY,NOIDA vs. ACIT,CIRCLE INT.TAX. 2(1)(2), NEW DELHI

In the result, the appeal of the assesses in ITA 1876/Del/2023, ITA

Bench: Sh. C.N. Prasad & Sh. Naveen Chandraassessment Year: 2016-17

gains in case of depreciable assets is not applicable to the present proceedings as this section is applicable in cases where depreciable assets in the block of assets are transferred. Shares do not fall in the block of assets and are not depreciable assets and no depreciation is allowed on them. The shares are only investments and capital

DCIT CENTRAL CIRCLE 05 , DELHI vs. DEEPAK KOTHARI , KANPUR

In the result, the appeal filed by the assessee is allowed

Bench: SHRI S. RIFAUR RAHMAN (Accountant Member), SHRI VIMAL KUMAR (Judicial Member)

gains derived in any manner. To our mind, therefore, the provisions/s, though no doubt a charging provision, is an extension of the deeming provisions of Chapter VI of the Act, laying down the statutory rules of evidence, incorporating the principles of common law jurisprudence. In sum, as also in fine, the provision, brought as an anti-abuse measure, only seeks

DEEPAK KATHARI,KANPUR vs. ACIT, CC-5, NEW DELHI

In the result, the appeal filed by the assessee is allowed

Bench: SHRI S. RIFAUR RAHMAN (Accountant Member), SHRI VIMAL KUMAR (Judicial Member)

gains derived in any manner. To our mind, therefore, the provisions/s, though no doubt a charging provision, is an extension of the deeming provisions of Chapter VI of the Act, laying down the statutory rules of evidence, incorporating the principles of common law jurisprudence. In sum, as also in fine, the provision, brought as an anti-abuse measure, only seeks

SAIF PARTNERS INDIA IV LIMITED ,DELHI vs. ACIT INT. TAXATION-3(1)(2), DELHI

In the result, the appeal of the assessee in ITA No

Bench: Shri N.K. Billaiya & Shri Anubhav Sharma

gain in India. The ld. CIT has clearly ignored the fact the assessee has neither claimed nor carried forward such capital loss in its return of income filed in India. 17. The Hon'ble Supreme Court in Malabar Industrial Co. Ltd., 243 ITR 83, has laid down the following ratio: "A bare reading of section 263 of the Income

COMMISSIONER OF INCOME TAX-IV vs. M/S. I. K. INTERNATIONAL PVT. LTD

depreciation was allowable and, therefore, took the view that the capital gains can only be treated as short term capital

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

depreciation under section 32 of the Act, consistent with his finding\nthat the aforesaid expenditure is capital in nature.\n9. That the assessing officer /DRP erred on facts and in law in treating\ngains from sale and purchase of mutual funds as \"business income” as against\nthe same being declared under the head capital gains

INCOME TAX vs. LIMITED

The appeal is dismissed

CAPITAL GAINS IN CASE OF DEPRECIABLE ASSETS. Notwithstanding anything contained in clause (42A) of section 2, where the capital asset

BIGSTAR HOTELS RESORTS PVT. LTD.,NEW DELHI vs. ITO WARD 5(1), NEW DELHI

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

gain in accordance with the provisions of section 50CA of the Act, one has to follow the provision of Rule 11UA of I.T. Rules.\n14. In the present case, the assessee has obtained the valuation report from the merchant banker where the FMV was determined at net asset value as provided in Rule 11UA(1)(c)(d) of the Rules

PRAVEEN RANJAN SINHA,GURGAON vs. DCIT, CIRCLE-3(1), GURGAON, GURGAON

In the result, the appeal of the assessee is allowed and Stay Application of the assessee is dismissed as infructuous

Bench: Shri Kul Bharat & Shri M. Balaganeshpraveen Ranjan Sinha, Vs. Dcit, Icb 141, The Icon, Dlf Circle-3(1), City, Phase-V, Gurgaon, Gurgaon Haryana (Appellant) (Respondent) Pan: Ardps3000N Sa No. 57/Del/2024 (In Ita No. 399/Del/2024) (Assessment Year: 2015-16) Praveen Ranjan Sinha, Vs. Dcit, Icb 141, The Icon, Dlf Circle-3(1), City, Phase-V, Gurgaon, Gurgaon Haryana (Appellant) (Respondent) Pan: Ardps3000N Assessee By : Shri Sudesh Garg, Adv Ms. Bhavya Garg, Adv Revenue By: Shri Dharambir Singh, Cit Dr Date Of Hearing 08/04/2024 Date Of Pronouncement 08/07/2024

gains disclosed by the assessee have been accepted and assessed as such to the tune of Rs. SA No. 57/Del/2024 Praveen Ranjan Sinha 29,99,49,097/- on sale of shares of Quicktel Logistics Pvt. Ltd. Hence, for the investment made in Quickdel Pvt. Ltd, the assessee has been treated by the revenue as an investor. But for investments made

TELETUBE ELECTRONICS LTD

The appeal of the Assessee is allowed

capital gain in accordance with law. The AO was also directed to re-adjudicate the consequential issues like depreciation, investment

TELETUBE ELECTRONICS LTD

The appeal of the Assessee is allowed

capital gain in accordance with law. The AO was also directed to re-adjudicate the consequential issues like depreciation, investment

JAGATPAL GUPTA,DELHI vs. ACIT, NEW DELHI

In the result, the appeal of the Assessee in ITA No

Bench: Shri S. Rifaur Rahman & Shri Yogesh Kumar U.S.

capital gain of Rs 5868776/- has been taxed @ flat 30%. The Assessee filed an application for rectification u/s 154 as there were certain mistakes in the assessment order. The mistakes included non-adjustment of brought forward losses; non-adjustment of unabsorbed depreciation

JAGAT PAL GUPTA,DELHI vs. ACIT, NEW DELHI

In the result, the appeal of the Assessee in ITA No

Bench: Shri S. Rifaur Rahman & Shri Yogesh Kumar U.S.

capital gain of Rs 5868776/- has been taxed @ flat 30%. The Assessee filed an application for rectification u/s 154 as there were certain mistakes in the assessment order. The mistakes included non-adjustment of brought forward losses; non-adjustment of unabsorbed depreciation

MUKUL ROHATGI,NEW DELHI vs. ACIT CIRCLE 61(1), NEW DELHI

In the result, the appeal of the assessee is allowed

Bench: Shri Mahavir Singh & Shri Manish Agarwal

capital gain was offered to tax in assessment year 2019-20, which is verified from the computation of income filed along with return of income for the assessment year 2019-20. Hence, there is no question of declaration of ALV in the relevant assessment year. 10. Coming to the next Apartment No.20, Hirst Court, London, the ALV of the same