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

Capital Gain/Short Term Capital Loss or any other sham transactions. " Similarly, the clarification for unlisted shares states: "It is, however, clarified that the above would not be necessarily applied in the situation where: (i) the genuineness of the transaction in unlisted shares itself is questionable; or (ii) the transfer of unlisted shares is related to an issue pertaining to lifting

CHANDER KALAN,DELHI vs. NEAC, DELHI

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

capital gains in terms of Section 45 of the Act and such income would be exempt from tax in terms of Section 10 (37) of the Act. This Hon’ble Tribunal in Baldev Singh vs. ITO, [2019] 104

DCIT, CIRCLE- 4(1), NEW DELHI vs. KANWAL MOHAN SINGH SEHGAL, NEW DELHI

In the result, the appeal of the Revenue is dismissed

Bench: Shri N.K. Billaiya & Ms. Astha Chandraassessment Year: 2015-16

capital gains are computed under section 48 of the Act.” 6.2 On the issue of denial of exemption of assessee’s claim under section 54, the Ld. CIT(A) held in para 12.4 of his appellate order as under: “12.4 On careful consideration of the facts of the case, it is clear that the assessee has made the investment

KUSUM SAHGAL,GURUGRAM vs. ACIT,CIRCLE-19(2), DELHI

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

Bench: Shri S Rifaur Rahman & Shri Vimal Kumarassessment Year: 2016-17 Kusum Sahgal, Through Lr Shri Vs. Acit, Circle-19(2), Viney Sagar Sahgal, New Delhi Mg-2002, The Magnolias, Golf Course Road Dlf Phase-V, Gurugram, 122 002 Haryana Pan :Aatps3766J (Appellant) (Respondent)

capital gain is invested in purchasing a residential house or constructing the residential house within the time stipulated therein. Proviso to sub section (1) states that the exemption contemplated under sub section (1) would not be available where 8 an assessee owns a residential house as on the date of the transfer and that the income from the residential house

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.

section 80G of the Act. The application for rectification has been disposed off vide order u/s 154/143(3) of the Act, on 03.09.2013, after the filing of appeal, and the demand created was reduced to Rs. 36,310/-.The Assessee preferred an Appeal challenging the assessment order dated 22/03/2013 before the CIT(A) which came to be dismissed vide impugned

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.

section 80G of the Act. The application for rectification has been disposed off vide order u/s 154/143(3) of the Act, on 03.09.2013, after the filing of appeal, and the demand created was reduced to Rs. 36,310/-.The Assessee preferred an Appeal challenging the assessment order dated 22/03/2013 before the CIT(A) which came to be dismissed vide impugned

ACIT CIRCLE-36(1), NEW DELHI vs. HIMANSHU GARG, NEW DELHI

Bench: Sh. Kul Bharatdr. B. R. R. Kumar

capital gain Rs.1,84,23,729/- Less: Exemption u/s 54F (-) Rs.1,84,23,729/- Analysis of Claim of exemption u/s 54F of the Act: 10.4 The assessee in support of his claim u/s 54F has furnished a copy of registered deed dated 11.7.2013 purchased by assessee jointly in the name of Smt. Meenu Gupta, Smt. Nirmal Garg and Shri Himanshu

DCIT, CENTRAL CIRCLE-2, NOIDA vs. AJAY GOEL, HARYANA

In the result, the appeal of the Revenue is dismissed

capital gain on sale of shares of M/s.\nTirupati Medicare Ltd.\n6.19 In the light of above discussion, disallowance of Rs 1,54,28 619/-, which was\nclaimed on account of indexed cost of acquisition, is hereby deleted and relief is\nallowed to the appellant. All the grounds of appeal relating to this disallowance are\nadiudicated accordingly.\n8. Aggrieved with

SAC FINANCE COMANY LTD,HONG KONG vs. ACIT, CIRCLE INTERNATIONAL TAXATION 3(1)(2), NEW DELHI

In the result appeal of the assessee in ITA no

Bench: Shri Shamim Yahya & Shri Kul Bharatassessment Year: 2017-18

capital gain of INR 16,69,27,557. OUR CONTENTIONS Ld. AO exceeded its jurisdiction by not following the order of Ld. TPO [Ground 3(a) of our appeal] TPO order-refer para 3.1 to para 5 on page 138 of Paper-book 1. As per the provision of section 92CA(4), that the order passed

INDUS TOWERS LIMITED (FORMERLY KNOWN AS BHARTI INFRATEL LTD AND AS SUCCESSOR IN INTEREST OF ERSTWHILE INDUS TOWER LTD) ,GURUGRAM, HARYANA vs. DCIT, CIRCLE 12(1), NEW DELHI

In the result, the appeal of the revenue is dismissed

Bench: Shri M. Balaganesh & Shri Vimal Kumarindus Towers Ltd (Formerly Vs. Dcit, Known As Bharti Infratel Ltd), Circle-12(1), 4Th Floor, Dlf Cybercity, New Delhi Building No. 10, Tower A, Dlf Qe, So Gurgaon, Haryana (Appellant) (Respondent) Pan: Aadcv0274F Acit, Vs. Indus Towers Ltd, 4Th Floor, Dlf Cybercity, Central Circle-10, New Delhi Gurgaon, Haryana (Appellant) (Respondent) Pan: Aadcv0274F Indus Towers Ltd (Formerly Vs. Dcit, Known As Bharti Infratel Ltd), Circle-12(1), 4Th Floor, Dlf Cybercity, New Delhi Building No. 10, Tower A, Dlf Qe, So Gurgaon, Haryana (Appellant) (Respondent) Pan: Aadcv0274F Assessee By : Shri Ajay Vohra, Sr. Adv Shri Rohit Jain, Adv Shri Deepesh Jain, Adv Ms. Shaurya Jain, Ca Revenue By: Shri Mukesh Kumar Jain, Cit Dr Date Of Hearing 12/09/2024 Date Of Pronouncement 10/12/2024

Section 36(1)(iii) of the Act holding that interest expenditure relates to acquisition/ construction of tower sites and is therefore a capital expenditure. The said amount was computed by the ld AO by applying 12% interest on total borrowed capital utilized for capital expenditure for the period of 150 days (alleged to be average days for construction/ acquisition

ACIT , CIRCLE 10, NEW DELHI vs. INDUS TOWER LIMITED, GURGAON

In the result, the appeal of the revenue is dismissed

Bench: Shri M. Balaganesh & Shri Vimal Kumarindus Towers Ltd (Formerly Vs. Dcit, Known As Bharti Infratel Ltd), Circle-12(1), 4Th Floor, Dlf Cybercity, New Delhi Building No. 10, Tower A, Dlf Qe, So Gurgaon, Haryana (Appellant) (Respondent) Pan: Aadcv0274F Acit, Vs. Indus Towers Ltd, 4Th Floor, Dlf Cybercity, Central Circle-10, New Delhi Gurgaon, Haryana (Appellant) (Respondent) Pan: Aadcv0274F Indus Towers Ltd (Formerly Vs. Dcit, Known As Bharti Infratel Ltd), Circle-12(1), 4Th Floor, Dlf Cybercity, New Delhi Building No. 10, Tower A, Dlf Qe, So Gurgaon, Haryana (Appellant) (Respondent) Pan: Aadcv0274F Assessee By : Shri Ajay Vohra, Sr. Adv Shri Rohit Jain, Adv Shri Deepesh Jain, Adv Ms. Shaurya Jain, Ca Revenue By: Shri Mukesh Kumar Jain, Cit Dr Date Of Hearing 12/09/2024 Date Of Pronouncement 10/12/2024

Section 36(1)(iii) of the Act holding that interest expenditure relates to acquisition/ construction of tower sites and is therefore a capital expenditure. The said amount was computed by the ld AO by applying 12% interest on total borrowed capital utilized for capital expenditure for the period of 150 days (alleged to be average days for construction/ acquisition

INDUS TOWERS LTD.,GURGAON vs. DCIT CIRCLE 12(1), NEW DELHI

In the result, the appeal of the revenue is dismissed

Bench: Shri M. Balaganesh & Shri Vimal Kumarindus Towers Ltd (Formerly Vs. Dcit, Known As Bharti Infratel Ltd), Circle-12(1), 4Th Floor, Dlf Cybercity, New Delhi Building No. 10, Tower A, Dlf Qe, So Gurgaon, Haryana (Appellant) (Respondent) Pan: Aadcv0274F Acit, Vs. Indus Towers Ltd, 4Th Floor, Dlf Cybercity, Central Circle-10, New Delhi Gurgaon, Haryana (Appellant) (Respondent) Pan: Aadcv0274F Indus Towers Ltd (Formerly Vs. Dcit, Known As Bharti Infratel Ltd), Circle-12(1), 4Th Floor, Dlf Cybercity, New Delhi Building No. 10, Tower A, Dlf Qe, So Gurgaon, Haryana (Appellant) (Respondent) Pan: Aadcv0274F Assessee By : Shri Ajay Vohra, Sr. Adv Shri Rohit Jain, Adv Shri Deepesh Jain, Adv Ms. Shaurya Jain, Ca Revenue By: Shri Mukesh Kumar Jain, Cit Dr Date Of Hearing 12/09/2024 Date Of Pronouncement 10/12/2024

Section 36(1)(iii) of the Act holding that interest expenditure relates to acquisition/ construction of tower sites and is therefore a capital expenditure. The said amount was computed by the ld AO by applying 12% interest on total borrowed capital utilized for capital expenditure for the period of 150 days (alleged to be average days for construction/ acquisition

M/S. MADURA BIOTECH (P) LTD.,HARIDWAR vs. DCIT, NEW DELHI

In the result, the appeal filed by the assessee is allowed partly with consequences to follow as per determination of grounds above

Bench: Shri G.S. Pannu, Hon’Ble & Shri Anubhav Sharmaassessment Year: 2010-11 Madura Biotech (P) Ltd., Vs Dcit, Plot No.146-149, Sector I.I.D.C., Circle-6(1), Sidcul Ranipur, New Delhi. Haridwar. Pan: Aafcm8070L (Appellant) (Respondent) Assessee By : Shri Tanpreet Kohli, Ca Revenue By : Shri Kanav Bali & Shri Vivek Vardhan, Sr. Drs Date Of Hearing : 07.06.2024 Date Of Pronouncement : 23.07.2024 Order Per Anubhav Sharma, Jm:

capital gain. Accordingly, findings of CIT(A) sustained and this ground is decided against the assessee. 9. Ground no. 3 of appeal is directed against denying deduction u/s 80-IC of the Act, for business income. Assessee has shown income from business at Rs.85,33,519/- and has claimed deduction u/s 80-IC of the entire amount. AO 11 observed

THR INFRASTRUCTURE PTE LTD,GURGAON vs. DCIT, CIR.-3(1)(1), INTL TAX, NEW DELHI

In the result, the appeal of the assessee is allowed

Bench: Sh. Saktijit Deydr. B. R. R. Kumar

section 112 of the Act denying the benefit of the Tax Treaty but accepting the valuation adopted by the Assessee. 11. The grievance of the Assessee raised by grounds of appeal Nos. 2 to 6 is thus limited to the denial of the exemption under Article 13(4) of the Tax Treaty qua capital gains earned on sale of CCDs

INDUS TOWERS LTD.,GURUGRAM, HARYANA vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE 12(1), NEW DELHI, NEW DELHI

In the result, appeal of the Revenue is dismissed

Capital Gain on the transfer of assets\nand hence the Ground 1 to 1.7 are allowed in favour of the\nappellant and the addition made for Rs.505,72,00,000/- is\ndirected to be deleted.\"\n10. The above finding on fact is not rebutted by the Revenue by\nplacing any contrary material before us. We find that Ld.CIT

KRISHNA DEVI,GHAZIABAD vs. ITO, WARD- 1(3), GHAZIABAD

Bench: SHRI SHAMIM YAHYA (Accountant Member), SHRI YOGESH KUMAR U.S. (Judicial Member)

104/- and stamp duty was paid on the value of Rs. 67,55,498/- as per sale deed dated 16.06.2008. Since the land sold falls within 8 KM from the municipal limits of Ghaziabad, the land covers with the definition of Section 2(14) of the Income Tax Act, 1961. You are therefore required to furnish computation of capital gains

DY. COMMISSIONER OF INCOME TAX CIRCLE 10(1), DELHI, CR BUILDING vs. INDUS TOWERS LIMITED, GURGRAM

In the result, appeal of the Revenue is dismissed

Capital Gain on the transfer of assets\nand hence the Ground 1 to 1.7 are allowed in favour of the\nappellant and the addition made for Rs.505,72,00,000/- is\ndirected to be deleted.\"\n\n10. The above finding on fact is not rebutted by the Revenue by\nplacing any contrary material before us. We find that Ld.CIT

DCIT, CENTRAL CIRCLE-28, NEW DELHI vs. MANISH UPPAL, DELHI

In the result, assessee’s appeal in ITA No

Bench: Ms. Madhumita Roy & Shri Naveen Chandraassessment Year: 2013-14

capital gain at a sum of Rs. 7,13,63,040/-. Further, learned AO has also not mentioned about the fact of earlier assessment under section 153A of the Act in reasons recorded, this all shows that learned AO has initiated reassessment proceedings on wrong edifice and on total non application of mind: i) CIT vs Rainee Singh (Delhi High