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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

reopened the case on the dictating of the higher authorities. As per para number 6.7 of the order, he dealt with the argument of the assessee that AO is factually incorrect that assessee has not disclosed long-term capital gain or short-term capital gain in her return of income. He held that assessing

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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

reopened the case on the dictating of the higher authorities. As per para number 6.7 of the order, he dealt with the argument of the assessee that AO is factually incorrect that assessee has not disclosed long-term capital gain or short-term capital gain in her return of income. He held that assessing

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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

reopened the case on the dictating of the higher authorities. As per para number 6.7 of the order, he dealt with the argument of the assessee that AO is factually incorrect that assessee has not disclosed long-term capital gain or short-term capital gain in her return of income. He held that assessing

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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

reopened the case on the dictating of the higher authorities. As per para number 6.7 of the order, he dealt with the argument of the assessee that AO is factually incorrect that assessee has not disclosed long-term capital gain or short-term capital gain in her return of income. He held that assessing

SH. VALMIK THAPAR,NEW DELHI vs. ACIT, NEW DELHI

Appeals are disposed of by this common order as indicated above

Bench: Hon’Ble Justice P.P. Bhatt & Shri Prashant Maharishi(Through Video Conferencing) Shri Valmik Thapar, Vs. Acit, 19, Kautilya Marg, Circle-53(1), New Delhi New Delhi (Appellant) (Respondent) Shri Valmik Thapar, Vs. Dcit, M/S. R. N. Khanna & Company, Ca, Circle-32(1), 14-15F, Shivam House, Connaught New Delhi Place, New Delhi Pan: Aacpt7098K (Appellant) (Respondent) Acit, Vs. Shri Valmik Thapar, Circle-53(1), 19, Kautilya Marg, New Delhi New Delhi Pan: Aacpt7098K (Appellant) (Respondent) Assessee By : Shri Salil Agarwal, Senior Advocate Along With Shri Shailesh Gupta, Shri Mahur Agarwal, Advocates Revenue By: Shri H. K. Choudhary, Cit Dr Date Of Hearing 11/06/2021 (Last Hearing) Date Of Pronouncement 11/06/2021. O R D E R Per Prashant Maharishi, A. M. 1. These Are Three Appeals For Two Assessment Years Pertaining To One Assessee, Mr. Valmik Thapar, A Resident, Individual [Assessee]. Assessee Filed Ita Number

capital gain on RS 25,036,358/- was taxed at Rs 5,007,272/–. Reassessment proceedings before AO Page 5 of 53 15. The case of the assessee was reopened by issue of notice u/s 148 of The Income Tax Act by the learned assessing

SHRI VALMIK THAPAR,NEW DELHI vs. DCIT, NEW DELHI

Appeals are disposed of by this common order as indicated above

Bench: Hon’Ble Justice P.P. Bhatt & Shri Prashant Maharishi(Through Video Conferencing) Shri Valmik Thapar, Vs. Acit, 19, Kautilya Marg, Circle-53(1), New Delhi New Delhi (Appellant) (Respondent) Shri Valmik Thapar, Vs. Dcit, M/S. R. N. Khanna & Company, Ca, Circle-32(1), 14-15F, Shivam House, Connaught New Delhi Place, New Delhi Pan: Aacpt7098K (Appellant) (Respondent) Acit, Vs. Shri Valmik Thapar, Circle-53(1), 19, Kautilya Marg, New Delhi New Delhi Pan: Aacpt7098K (Appellant) (Respondent) Assessee By : Shri Salil Agarwal, Senior Advocate Along With Shri Shailesh Gupta, Shri Mahur Agarwal, Advocates Revenue By: Shri H. K. Choudhary, Cit Dr Date Of Hearing 11/06/2021 (Last Hearing) Date Of Pronouncement 11/06/2021. O R D E R Per Prashant Maharishi, A. M. 1. These Are Three Appeals For Two Assessment Years Pertaining To One Assessee, Mr. Valmik Thapar, A Resident, Individual [Assessee]. Assessee Filed Ita Number

capital gain on RS 25,036,358/- was taxed at Rs 5,007,272/–. Reassessment proceedings before AO Page 5 of 53 15. The case of the assessee was reopened by issue of notice u/s 148 of The Income Tax Act by the learned assessing

ACIT, NEW DELHI vs. SH. VALMIK THAPAR, NEW DELHI

Appeals are disposed of by this common order as indicated above

Bench: Hon’Ble Justice P.P. Bhatt & Shri Prashant Maharishi(Through Video Conferencing) Shri Valmik Thapar, Vs. Acit, 19, Kautilya Marg, Circle-53(1), New Delhi New Delhi (Appellant) (Respondent) Shri Valmik Thapar, Vs. Dcit, M/S. R. N. Khanna & Company, Ca, Circle-32(1), 14-15F, Shivam House, Connaught New Delhi Place, New Delhi Pan: Aacpt7098K (Appellant) (Respondent) Acit, Vs. Shri Valmik Thapar, Circle-53(1), 19, Kautilya Marg, New Delhi New Delhi Pan: Aacpt7098K (Appellant) (Respondent) Assessee By : Shri Salil Agarwal, Senior Advocate Along With Shri Shailesh Gupta, Shri Mahur Agarwal, Advocates Revenue By: Shri H. K. Choudhary, Cit Dr Date Of Hearing 11/06/2021 (Last Hearing) Date Of Pronouncement 11/06/2021. O R D E R Per Prashant Maharishi, A. M. 1. These Are Three Appeals For Two Assessment Years Pertaining To One Assessee, Mr. Valmik Thapar, A Resident, Individual [Assessee]. Assessee Filed Ita Number

capital gain on RS 25,036,358/- was taxed at Rs 5,007,272/–. Reassessment proceedings before AO Page 5 of 53 15. The case of the assessee was reopened by issue of notice u/s 148 of The Income Tax Act by the learned assessing

SURESH KUMAR AGGARWAL,NEW DELHI vs. ACIT, CENTRAL CIRCLE-25, NEW DELHI

In the result, appeal of the assessee is partly allowed

Bench: Shri Sudhanshu Srivastava & Shri Prashant Maharishia Y 2011-12 Appellant Respondent Shri Suresh Kumar Agarwal The Assistant Commissioner Of 154, Deepali Enclave Vs. Income Tax Pitampura Central Circle -25 New Delhi New Delhi Pan :- Abvpk1318H ( Appellant ) ( Respondent ) Date Of Hearing 17-06-2020 Date Of Order 29.06.2020 Present For Assessee Shri Gautam Jain , Advocate Present For Income Tax Department :- Shri Saras Kumar Senior Departmental Representative O R D E R

capital gain by manipulating the stocks to the tune of ₹ 56,43,084/–. Accordingly, case of the assessee was reopened and notice u/s 148 of the Act was issued on 31/3/2016. 05. For reopening of the assessment

DCIT, CIRCLE-2(2), NEW DELHI vs. ANANT RAJ LTD., NEW DELHI

The appeal is allowed partly as indicated above

Bench: Shri Amit Shukla & Shri Prashant Maharishi

capital gain was declared in AY 2009-10 was included in the block of assets on which depreciation was claimed and thus, the case was reopened by the AO by issuing notice u/s 148 of the Act by recording reasons to believe that income has escaped assessment

DCIT, CIRCLE-2(2), NEW DELHI vs. ANANT RAJ LTD., NEW DELHI

The appeal is allowed partly as indicated above

Bench: Shri Amit Shukla & Shri Prashant Maharishi

capital gain was declared in AY 2009-10 was included in the block of assets on which depreciation was claimed and thus, the case was reopened by the AO by issuing notice u/s 148 of the Act by recording reasons to believe that income has escaped assessment

ANANT RAJ LTD.,NEW DELHI vs. DCIT, CIRCLE-2(2), NEW DELHI

The appeal is allowed partly as indicated above

Bench: Shri Amit Shukla & Shri Prashant Maharishi

capital gain was declared in AY 2009-10 was included in the block of assets on which depreciation was claimed and thus, the case was reopened by the AO by issuing notice u/s 148 of the Act by recording reasons to believe that income has escaped assessment

MAHESHWARI ROLLER FLOUR MILLS PVT LTD,NEW DELHI vs. ITO WARD - 16(1), NEW DELHI

In the result, appeal of the Assessee allowed

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

reopening of the assessment at Page-15 of the Paper Book which reads as under : “M/s. Ganesh Ganga Investments Pvt. Ltd., PAN AAACG2710J A.Y. 2010-11 The assessee filed return of income for the A.Y. 2010-11 on 04.02.2011 declaring loss of Rs.(-) 14,162/-. The return was processed u/s 143(1). Information was forwarded to this office through

MADHU APARTMENT PVT. LTD.,DELHI vs. ITO, WARD- 16(1), NEW DELHI

In the result, appeal of the Assessee allowed

Bench: Shri Bhavnesh Saini & Shri B.R.R. Kumar

reopening of the assessment at Page-15 of the Paper Book which reads as under : “M/s. Ganesh Ganga Investments Pvt. Ltd., PAN AAACG2710J A.Y. 2010-11 The assessee filed return of income for the A.Y. 2010-11 on 04.02.2011 declaring loss of Rs.(-) 14,162/-. The return was processed u/s 143(1). Information was forwarded to this office through

MADHU APARTMENT PVT. LTD.,DELHI vs. ITO, WARD- 16(1), NEW DELHI

In the result, appeal of the Assessee allowed

Bench: Shri Bhavnesh Saini & Shri B.R.R. Kumar

reopening of the assessment at Page-15 of the Paper Book which reads as under : “M/s. Ganesh Ganga Investments Pvt. Ltd., PAN AAACG2710J A.Y. 2010-11 The assessee filed return of income for the A.Y. 2010-11 on 04.02.2011 declaring loss of Rs.(-) 14,162/-. The return was processed u/s 143(1). Information was forwarded to this office through

VRC TOWNSHIP P LTD.,DELHI vs. ITO, NEW DELHI

In the result, appeal of the Assessee allowed

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

reopening of the assessment at Page-15 of the Paper Book which reads as under : “M/s. Ganesh Ganga Investments Pvt. Ltd., PAN AAACG2710J A.Y. 2010-11 The assessee filed return of income for the A.Y. 2010-11 on 04.02.2011 declaring loss of Rs.(-) 14,162/-. The return was processed u/s 143(1). Information was forwarded to this office through

MOHD. YAMEEN MUNNA,GHAZIABAD vs. ITO, WARD- 2(1), GHAZIABAD

In the result, appeal of Assessee allowed

Bench: Shri Bhavnesh Saini

capital gains of Rs.18,01,265/-. 2.1. The assessee challenged the reopening of the assessment as well as addition on merit

RAMOTAR SINGH HUF,REWARI vs. ITO, WARD- 2, REWARI

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

Bench: Shri R.K. Panda & Ms Suchitra Kambleassessment Year: 2012-13 Ramotar Singh, Huf, Vs Ito, Rewari Ward-2, C/O Naresh Singh Chauhan, Advocate, Rewari. 1035-P, Sector-3, Part Ii, Near Ganeshi Lal Dharmshala, Rewari, Haryana. Pan: Aashr5279J (Appellant) (Respondent) Assessee By : Shri Gautam Jain, Advocate. Revenue By : Ms Rakhi Vimal, Sr. Dr Date Of Hearing : 16.07.2020 Date Of Pronouncement : 21.08.2020 Order Per R.K. Panda, Am:

capital gains have been taxed in the hands of the HUF or not and assessment order dated 26,03,2014 clearly shows that assessment has been completed in the hands of the HUF. 8. In our considered opinion, once assessment has been reopened

M/S. R.C. NARULA & SONS HUF,NEW DELHI vs. ACIT, NEW DELHI

In the result, the appeal for A

Bench: : Shri H.S. Sidhu & Shri L.P. Sahu

gain Rs.56,55,405/- As per above findings, after recording the reasons for reopening u/s.147, the case was reopened for the assessment year 2008-09 and after considering the submissions of the assessee, the Assessing Officer assessed the short term capital