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

20. before Respondent no.1, whereas, the Petitioner reiterated the submissions made by the Petitioner regarding the non-taxability of the gain arising from the transaction of sale of the shares, effected pursuant to I.T.A.No.1568/Del/2022 the SPA dated 1st March, 2011 held by the Petitioner in MIAL having regard to the provisions of Article 13(4) of the Mauritius DTAA

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

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 Act. Therefore we are inclined to decide the issue of claim of administration expenses in favour of the revenue. Ultimately, the assessee may get the benefit of claim of these 12 expenses as business expenditure under the head business income. As such there is no impact for the same in this AY. 14. With regard

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)

Section 10(38) of the Act. (iv) For facilitating such bogus entries, the brokers were paid commission in cash generally around 6% of the value of the transaction or Rs.0.50 to Rs.1/- for every Rs.100/-transacted. (v) But for the price rigging and manipulative actions of the brokers the assessee would not have earned such Long Term Capital Gain

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

The appeals are disposed of

10 of 23 (Rules, for short) prescribes and states the table of rates at which depreciation is admissible and is divided into different parts and sub headings. Rates of depreciation have been prescribed. Assets of different types which have been prescribed same rate of depreciation have been clubbed and put together. Appendix does not stipulate and provide that each unit

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 Gains (‘LTCG’) of Rs.50,44,027/- and the exempted LTCG of Rs.8,90,66,252/-. However, it offered a sum of Rs.8,21,45,406/- as income under section 115JB of the Income Tax Act, 1961 (‘the Act’). The case was picked up for scrutiny and consequential assessment was completed at income of Rs.11,75,90,926/- by making

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 Gains (‘LTCG’) of Rs.50,44,027/- and the exempted LTCG of Rs.8,90,66,252/-. However, it offered a sum of Rs.8,21,45,406/- as income under section 115JB of the Income Tax Act, 1961 (‘the Act’). The case was picked up for scrutiny and consequential assessment was completed at income of Rs.11,75,90,926/- by making

ACIT, CIRCLE-24(1), NEW DELHI vs. SPRING INFRADEV LTD., NEW DELHI

Bench: Shri Yogesh Kumar Us & Shri Brajesh Kumar Singh[Assessment Year:2016-17]

section 143(3) has disallowed the indexedcost of acquisition/ improvement to the tune of Rs.15,46,46,953/- and recomputed the long term capital gain at Rs. 28,43,67,705/- as against the long term capital gain of Rs. 12,97,20,752/- declared by the assessee. 7. That aggrieved by the order passed by the AO, the applicant

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)

20 10 filed by Euro Pacific Securities Ltd ("EPSL", in short) in the second round of applications filed by the Essar Group before the AAR and the effect of the said applications. Part-B of such submissions deal with the contention of the revenue with regard to the bar contained under item (iii) of the proviso to section 245R

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

20,57,84 21,45,60 22,70,96 19,21,58 loss 9 1 1 5 2 0 Percentag 98.34% 0.70% 0.16% 017% 0.18% 0.15% e of Capital gain to Total capital gain *inclusive of shares of Dabur India Ltd., Punjab Tractors Ltd. and ABN Amro Securities Pvt. Ltd. Total Capital Rs. Long Term Capital Gain claimed exempt

M/S THE ORIENTAL INSSURANCE CO.LTD.,,NEW DELHI vs. DCIT, NEW DELHI

Bench: Shri Anil Chaturvedi & Shri Anubhav Sharmam/S. The Oriental Insurance Co. Ltd, Vs. The Dcit, A 25/27, Asaf Ali Road, Ltu, New Delhi New Delhi-110002 (Appellant) (Respondent) Pan: Aaact0627R

Capital gains" or "Income from other sources", do not apply in the case of computation of income from insurance business. The effect of the non-obstante clause so far as the earlier part of section 44 is concerned, therefore, is that the provisions of section 44 will prevail notwithstanding the fact that there are contrary provisions in the Act relating

VANEET AGGARWAL,NEW DELHI vs. ACIT, CIRCLE-14(2), NEW DELHI

In the result, appeal filed by the assessee is allowed

section 10(38) of the Act on long term\ncapital gain of Rs.1,17,34,753/- is hereby rejected.\"\n\n4. Hemil Subhashbhal Shah Vs DCIT (ITAT) ITA No 1121/Ahd/2018 &\nΙΤΑ No 961/Ahd/2019\n\nIn Para 8 of Its order Hon'ble ITAT Ahmedabad has discussed as under:-\n\n\"We have gone through the judgement

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

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

20,96,074\nTotal\n593,48,24,274\n385,76,35,779\n\n8.6 From the above table, the assessee's capital gain from HDFC\nMf Mutual fund wherein the investment is made in Equity/shares by the\nassessee is computed. Given as under is the screenshot of mutual fund asset\nallocation.\n8.7 Accordingly, as per the submission of the assessee

INCOME TAX OFFICER, WARD-11(1), DELHI vs. HKT CORPORATION PVT LTD, DELHI

Appeal is dismissed

Bench: SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER\nAND\nSHRI S. RIFAUR RAHMAN, ACCOUNTANT MEMBER\n\nITA No.1036/Del/2024\nAssessment Year: 2020-21\n\nIncome Tax Officer,\nWard-11(1),\nDelhi\nVs.\nM/s. HKT Corporation Pvt.\nLtd.,\n7, South Patel Nagar,\nNew Delhi\nPAN: AACCH0308M\n\n(Appellant)\n\n(Respondent)\n\nAssessee by\nSh. Tarandeep Singh, Adv.\n\nDepartment by\nSh. Rajesh Kumar Dhanesta, Sr. DR\n\nDate of hearing\n23.06.2025\n\nDate of pronouncement\n09.07.2025\n\nORDER\n\nPER SATBEER SINGH

20 Jhandewalan Extension, New Delhi.\n\n7. 2. Ground no. 2:\n\n2 Page\n\nITA No. 1036/Del/2024\n\n2. That on facts and in the circumstances of the case and in\nlaw, the Assessment Unit has erred in law and on facts in\nrejecting claim of transfer expenses of Rs.23,40,000/-in\nregard to Capital Gains on sale

THE ORIENTAL INSURANCE CO. LTD.,NEW DELHI vs. DCIT, CIRCLE- 1, LTU, NEW DELHI

Bench: Sh. Anil Chaturvedi & Sh.Anubhav Sharmaita No. 1952/Del/2018, A.Y. 2013-14 M/S. The Oriental Insurance Co. Vs. Dcit, Ltd. Circle-1, Ltu, A-25/27, Asaf Ali Road, New Delhi New Delhi- 110002 Pan :Aaact0627R

Capital gains" or "Income from other sources", do not apply in the case of computation of income from insurance business. The effect of the non-obstante clause so far as the earlier part of section 44 is concerned, therefore, is that the provisions of section 44 will prevail notwithstanding the fact that there are contrary provisions in the Act relating

DCIT, CIRCLE- 1, LTU, NEW DELHI vs. THE ORIENTAL INSURANCE CO. LTD., NEW DELHI

Bench: Sh. Anil Chaturvedi & Sh.Anubhav Sharmaita No. 1952/Del/2018, A.Y. 2013-14 M/S. The Oriental Insurance Co. Vs. Dcit, Ltd. Circle-1, Ltu, A-25/27, Asaf Ali Road, New Delhi New Delhi- 110002 Pan :Aaact0627R

Capital gains" or "Income from other sources", do not apply in the case of computation of income from insurance business. The effect of the non-obstante clause so far as the earlier part of section 44 is concerned, therefore, is that the provisions of section 44 will prevail notwithstanding the fact that there are contrary provisions in the Act relating

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

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 from sale and purchase of mutual funds as "business income” as against the same being declared under the head capital gains" by the appellant. 9.1 That the assessing