SANGEETA DEVI JHUNJHUNWALA,NEW DELHI vs. ITO, WARD-70(1), NEW DELHI

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

Bench: Dr. Brr Kumar & Ms. Astha Chandraasstt. Year: 2015-16

capital gain under section 10(38) of the Act in the return for which reason the assessee’s return was selected for complete scrutiny. 14.2 During assessment proceedings, statutory notice under section 143(2) of the Act was served upon the assessee to produce evidence in support of the return. Again notice under section 142(1

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

section 195 r.w.s. 112(1)(c)(iii) M/s LEI Singapore Holdings Pte Ltd. has withheld tax @10% + SC + EC. It was, however, submitted that as per provisions of Article 13(4) of India – Mauritius treaty the capital gain

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 a loss, the assessee shall be entitled to have the amount of such loss set off against his income from any other source under the same head. We have noticed that in the instant case the exclusion has been conceded in computing the business income or the source of income from the head of business

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 a loss, the assessee shall be entitled to have the amount of such loss set off against his income from any other source under the same head. We have noticed that in the instant case the exclusion has been conceded in computing the business income or the source of income from the head of business

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)

1) No Capital 51-53 Gain Gain Gain Appeal 20006-07 Capital Business 143(3) Capital Capital 57-66 Gain Gain income Gain 2007-08 Capital Capital 143(3) No Capital 54-56 Gain Gain Gain appeal 2008-09 Capital Business 143(3) Capital Capital 67-75 Gain Gain income Gain 2010-11 Capital Business 143(3) Capital Capital

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)

10 May 2016 and 29 August 2016 further clarify that the amendments made to the India-Mauritius DTAA will be applicable only from A.Y. 2018-19 that too on capital gains arising on the securities purchased after 1 April 2017. 25. Without prejudice to the fact that the said Article 27A does not apply

ARYA SMAJ MODEL TOWN,DELHI vs. PCIT, CENTRAL -3, NEW DELHI

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

10 or clause (ii) or clause\n(iii) of sub-section (4) of section 12AB:\n\nTherefore, the reference made by the AO after the completion of assessment is\ncontrary to the provisions of law and, therefore, the said reference and the\nconsequent impugned order passed by the PCIT – Central is totally erroneous\nand without jurisdiction.\nCentral is totally

RICHMOND EDUCATIONAL SOCIETY,NOIDA vs. DCIT/ACIT CENTRAL CIRCLE, GHAZIABAD, GHAZIABAD

In the result, the appeal of the Assessee is allowed

section 10 of the Act that where a reference,\nunder the first proviso to sub-section (3) of section 143, has been made on or before\nthe 31st March, 2022 by the Assessing Officer for the contravention of certain\nprovisions of clause (23C) of section 10 of the Act, such references shall be dealt with\nin the manner provided under

ARUN SHUNGLOO TRUST

10 of 15 16. Benefit of indexed cost of inflation is given to ensure that the taxpayer pays capital gain tax on the “real” or actual „gain‟ and not on the increase in the capital value of the property due to inflation. This is the object or purpose in allowing benefit of indexed cost of improvement, even if the improvement

ITO,WARD-30(1), NEW DELHI vs. VINOD GUGNANI, NEW DELHI

In the result, grounds of Appeal of the Revenue fails, consequently the Appeal filed by the Revenue is dismissed

Bench: Shri B. R. R. Kumar & Sh. Yogesh Kumar U.S.

capital gain deposit to the parties for expenses relating to construction for new house between 02.11.2017 to 03.02.2018 within three years, in compliance with Section 54(1) of the Act. 4 ITO Vs. Vinod Gugnani 10

MILAN SAINI,GURGAON vs. DCIT, CIRCLE- 2 , GURGAON

In the result, the appeal of the assessee is allowed

Bench: Shri M Balaganesh & Shri Vimal Kumarassessment Year: 2014-15 Milan Saini, Vs. Dcit, 37, Centrum Plaza, Dlf Golf Circle-2. Course Road, Sector 53, Gurgaon Gurgaon (Haryana) Pan: Braps1366P (Appellant) (Respondent)

section 28(iv) of the Act as 'profits and gains of business and profession', alleging the same to be in lieu of professional/ entrepreneurial services. 4. That the CIT(A) erred on facts and in law in holding (in alternate) that compensation arising for alleged transfer of rights is taxable as short-term capital gains and not long-term capital

CHANDER KALAN,DELHI vs. NEAC, DELHI

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

1) or S. 56(2)(viii) as it existed at the relevant time. ” (Complete Extract is enclosed as Enclosure B) g. The above has to be read considering the fact that despite the amendments to Section 56 and Section 145A (now Section 145B) of the Act, the provisions of Section 10 (37) and Section 45 were never 10 amended

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

The appeals are disposed of

1) where the full value of the consideration received or accruing as a result of the transfer of the asset together with the full value of such consideration received or accruing as a result of the transfer of any other capital asset falling within the block of assets during the previous year, exceeds the aggregate of the following amounts, namely

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 :-

Section 48 of the Income Tax Act, 1961 and only following expenses are eligible to be deducted from the Income Tax Act, 1961 under the head capital gains: 1. Which are incurred wholly and exclusively in connection with the transfer of the Capital assets and 2. The cost of acquisition of the asset and the cost of any improvement thereto

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

10,13,29,232 Ltd. Long Term Capital Gain on sale of shares of ABN Amro 2,93,99,990 Securities Pvt. Ltd. Short Term Capital Gain 2,02,28,140 Total 1,21,87,78,509 17. Now, it has been well settled that if the shares which has been acquired and treated as investment from

SACHIN KANODIA,NEW DELHI vs. ITO WARD - 42(2), NEW DELHI

Appeal are dismissed

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

capital gains) as genuine. 9. That on the facts and in the circumstances of the case and in law, Id CIT-A erred in sustaining the action of ld AO in making addition of Rs 64,90,468/- without appreciating spirit of law contained in section 10(38) and section 43(5)(d) where statutory status is provided to evidences

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

In the result, the appeal of Revenue is partly allowed as boave for statistical purpose

Bench: Shri Yogesh Kumar U.S. & Shri Avdhesh Kumar Mishra

Capital Gain (STT) i. Mutual Funds Rs. 64,67,213/- ii. Shares (Rs. 11,73,187/-) iii. PMS Shares Rs. 7,14,85,406/- iv. PMS Mutual Funds Rs. 1,22,86,820/- Rs. 8,90,66,252/- 6.2 Provisions of Section 10

ADDI CHARITABLE TRUST,NEW DELHI vs. CIT EXEMPTION, DELHI

In the result, the appeal of Revenue is partly allowed as boave for statistical purpose

Bench: Shri Yogesh Kumar U.S. & Shri Avdhesh Kumar Mishra

Capital Gain (STT) i. Mutual Funds Rs. 64,67,213/- ii. Shares (Rs. 11,73,187/-) iii. PMS Shares Rs. 7,14,85,406/- iv. PMS Mutual Funds Rs. 1,22,86,820/- Rs. 8,90,66,252/- 6.2 Provisions of Section 10