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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

capital gain of RS. 12,700,000/- in each case and to take further applicable actions such as levy of interest and penalty

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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

capital gain of RS. 12,700,000/- in each case and to take further applicable actions such as levy of interest and penalty

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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

capital gain of RS. 12,700,000/- in each case and to take further applicable actions such as levy of interest and penalty

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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

capital gain of RS. 12,700,000/- in each case and to take further applicable actions such as levy of interest and penalty

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 gains, and under the Indian Income-tax Act, 1922 (pages 124, 125) : "From the charging provisions of the Act, it is discernible that the words 'income' or 'profits and gains' should be understood as including losses also, so that, in one sense 'profits and gains' represent 'plus income' whereas losses represent 'minus income'*. In * CIT v. Karamchand Premchand

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 gains', on which no securities transaction tax is paid and accordingly, confirmed levy of penalty under section 271(1)(c) of the Act. In that

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 rightly shown by the assessee and tax paid @ 20% thereon. 10. The entire disputed illegal demand of tax and interest as well as penalty

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 :-

capital gains, has furnished inaccurate particulars of its income and for that penalty proceedings us 271(1)(c) of the Income

SUMITOMO CORPORATION,NEW DELHI vs. DCIT (INTERNATIONAL TAXATION), NEW DELHI

Appeal of the assessee is partly allowed for statistical purpose

Bench: Shri R. K. Panda & Ms Suchitra Kamble(Through Video Conferencing) Sumitomo Corporation Vs Dcit (International Taxation) G-195, Circle-3(1)(2) Sarita Vihar New Delhi New Delhi Aabcs6011P (Appellant) (Respondent)

capital gain referred in para 3.2 to 3.5. 5. That the learned AO has erroneously stated that the reasons mentioned in the order may be treated as satisfactory for initiating penalty

EMERGING INDIA FOCUS FUNDS,MAURITIUS vs. ACIT, CIRCLE INT. TAXATION 1(2)(2), DELHI

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

Capital Gain as per Income Tax Act 1961 as\nper Article 13(A) of DTAA, the same is added back to the income of the\nassessee. The penalty

GAURAV AGGARWAL,DELHI vs. ITO WARD 60 (5 ), NEW DELHI

The appeal is dismissed

Bench: Shri Sudhanshu Srivastava & Shri Prashant Maharishishri Gaurav Aggarwal, Income Tax Officer, Flat No. 12, 2Nd Floor, Vs. Ward 60 (5) Sheel Tara House, New Delhi. 4866/24,Ansari Road, Daryaganj New Delhi – 110 002. Pan : Agepa3001F (Appellant) (Respondent)

capital gain. Accordingly Rs.74,487/- (3% of sale value i.e. Rs.24,82,890/- is being added under Section 69C as unexplained expenditure. Accordingly, I am satisfied that the assessee has furnished inaccurate particulars of his income, therefore, penalty

UDAY KUMAR VAISH,NEW DELHI vs. CIT, NEW DELHI

In the result, the appeal of the assessee is allowed

Bench: Sh. N. K. Saini, Am & Sh. Lalit Kumar, Jm Ita No. 5700/Del/2014 : Asstt. Years : 2009-10 Uday Kumar Vaish, Vs Commissioner Of Income Tax, 52/79, Ramjas Road, Karol Bagh, Central-Ii, New Delhi-110005 New Delhi (Appellant) (Respondent) Pan No. Aaipv1716G Assessee By : Dr. Rakesh Gupta & Somil Agarwal, Adv. Revenue By : Sh. Kartar Singh, Cit Dr Date Of Hearing : 29.11.2016 Date Of Pronouncement : 30.11.2016 Order Per N. K. Saini, Am: This Is An Appeal By The Assessee Against The Order Dated 06.03.2014 Of Ld. Cit, Central-Ii, New Delhi U/S 263 Of The Income Tax Act, 1961 (Hereinafter Referred To As The Act).

capital gain tax on this amount subject 14 Uday Kumar Vaish to no penalty proceedings just to buy peace. From

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

capital gains of the assessee firm as income from business and accordingly assess the same at Rs.5,27,93,412/-. 7. Consequently, I am satisfied that the assessee has willfully furnished inaccurate particulars of its income within the meaning of section 271 (1 )(c) of the Income Tax Act, 1961 and thereby has suppressed its taxable income. Therefore, penalty

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

capital gains of the assessee firm as income from business and accordingly assess the same at Rs.5,27,93,412/-. 7. Consequently, I am satisfied that the assessee has willfully furnished inaccurate particulars of its income within the meaning of section 271 (1 )(c) of the Income Tax Act, 1961 and thereby has suppressed its taxable income. Therefore, penalty

DCIT, NEW DELHI vs. SH. MAHESH KUMAR, NEW DELHI

In the result, the appeal of the department is dismissed

Bench: Sh. N. K. Saini, Am & Smt. Beena Pillai, Jm Ita No. 173/Del/2012 : Asstt. Year : 2008-09 Dcit, Vs Sh. Mahesh Kumar, Circle-21(1), C-13/170, Sector-3, Rohini, New Delhi Delhi-110085 (Appellant) (Respondent) Pan No. Aalpk4117B Assessee By : Sh. Ved Jain, Adv. Revenue By : Sh. P. Dum Kanunjna, Cit Dr Date Of Hearing : 16.09.2016 Date Of Pronouncement : 13.12.2016 Order Per N. K. Saini, Am: This Is An Appeal By The Department Against The Order Dated 17.10.2011 Of Ld. Cit(A)-Xxii, New Delhi.

capital gains as against business income treated by the assessing officer. 2. Whether on the facts and circumstances of the case the ld. CIT(A) has erred in giving relief to the assessee by not recognizing the fact that this is a case where the shares have been sold with an intention to earn profits without any investment

ARUN DWIVEDI,NEW DELHI vs. ACIT, CIRCLE-9(2), NEW DELHI

In the result, the appeal of the assessee is allowed

capital gain for Rs.17,13,015/- is\nadded to the income of the assessee has not declared in its return. In\nview of the facts and circumstances of the case, I am satisfied that\nthe assessee company has furnished inaccurate particulars of its\nincome, therefore, penalty

BRIJ BHUSHAN SINGAL,NEW DELHI vs. ACIT, CENTRAL CIRCLE- 3, NEW DELHI

Bench: Sh. N. K. Saini, Hon’Ble & Sh. K. N. Charyita No. 1412/Del/2018 : Asstt. Year : 2010-11 Ita No. 1413/Del/2018 : Asstt. Year : 2011-12 Ita No. 1414/Del/2018 : Asstt. Year : 2012-13 Sh. Brij Bhushan Singal, Vs Acit, W-29, Greater Kailash, Part-Ii, Central Circle-3, New Delhi-110048 New Delhi (Appellant) (Respondent) Pan No. Aefps6298M

Capital Gains on sheer presumptive basis. (4) That the order dated 29-12-2017 passed u/s 250 of the Act by the Ld. Commissioner of Income-tax (Appeals) 23, New Delhi is against law and facts on the file in as much as he was not justified to partly uphold the action of the Ld Assessing Officer in restricting

BRIJ BHUSHAN SINGAL,NEW DELHI vs. ACIT, CENTRAL CIRCLE- 3, NEW DELHI

Bench: Sh. N. K. Saini, Hon’Ble & Sh. K. N. Charyita No. 1412/Del/2018 : Asstt. Year : 2010-11 Ita No. 1413/Del/2018 : Asstt. Year : 2011-12 Ita No. 1414/Del/2018 : Asstt. Year : 2012-13 Sh. Brij Bhushan Singal, Vs Acit, W-29, Greater Kailash, Part-Ii, Central Circle-3, New Delhi-110048 New Delhi (Appellant) (Respondent) Pan No. Aefps6298M

Capital Gains on sheer presumptive basis. (4) That the order dated 29-12-2017 passed u/s 250 of the Act by the Ld. Commissioner of Income-tax (Appeals) 23, New Delhi is against law and facts on the file in as much as he was not justified to partly uphold the action of the Ld Assessing Officer in restricting