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

12. On 10th February, 2012, Petitioner filed an application under section 245Q(1) before Respondent no.1 to determine the correctness of its belief that the capital gains

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

section 70(3). 10. Coming to the decision of the ITAT Mumbai Bench in the case of Schrader Duncan Ltd. (supra), the issue involved there was, whether the loss on transfer of capital asset being units US 64 Scheme of Unit Trust of India can be allowed and entitled to carry forward the same for set off of in subsequent

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

section 70(3). 10. Coming to the decision of the ITAT Mumbai Bench in the case of Schrader Duncan Ltd. (supra), the issue involved there was, whether the loss on transfer of capital asset being units US 64 Scheme of Unit Trust of India can be allowed and entitled to carry forward the same for set off of in subsequent

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)

12,980 received by the appellant from Thymelicus Holding B.V [shareholder of Cinepolis India Pvt Ltd. ('CIPL')] is taxable as 'salary' under section 17 of the Act, as against long-term capital gains

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

The appeals are disposed of

capital gain would be payable. The block of assets will mean the 2012:DHC:2611-DB ITA Nos. 601/2011 & 602/2011 Page 12 of 23 assets carrying the same rate of depreciation. 18. Section

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 under 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

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)

capital gains taxation by the AO 6.1 Broad view of Essar Group Company forming part of Para 11 (page 24-27) ECL the existing arrangement Para 11 (page 23-25) ECOM 6.2 Moving of holding Essar Group in Indian Telecom Para 12 (page 27-33) ECL Business from Onshore to offshore Para 12 (page 26-31) ECOM 6.3 Acquisition

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

12 months as capital gains, there is no reason to dispute it by Assessing Officer. 8. In view of this ground No. 2 of the appeal of the assessee is allowed holding that long term gain from listed securities of Rs.25,13,359 is chargeable to tax under the head capital gain and not business income. Ground

ARUN SHUNGLOO TRUST

12. Learned counsel for the Revenue has emphasized and submitted that in Clause (iii) of Explanation to Section 48, indexed cost of acquisition has to be computed from the first year in which the capital asset was held by the assessee. He states and submits that the scope of the term “income” has been widened to bring capital gains

TELETUBE ELECTRONICS LTD

The appeal of the Assessee is allowed

Section 254(2) of the Act before the ITAT praying for some directions to the AO while computing capital gains as directed in the judgement of the ITAT. In the application, 2015:DHC:8039-DB ITA Nos. 38 of 2002 & 132 of 2002 Page 12

TELETUBE ELECTRONICS LTD

The appeal of the Assessee is allowed

Section 254(2) of the Act before the ITAT praying for some directions to the AO while computing capital gains as directed in the judgement of the ITAT. In the application, 2015:DHC:8039-DB ITA Nos. 38 of 2002 & 132 of 2002 Page 12

COMMISSIONER OF INCOME TAX-IV vs. M/S. I. K. INTERNATIONAL PVT. LTD

gains on sale of land as it was held for more than 36 months and consequently directed the Assessing Officer to allow deduction under Section 54EC. 12. It is against the aforesaid decision of the Tribunal that the Revenue is in appeal before this Court. Section 50 of the Act makes “special provision for computation of capital

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 u/s 10(38) of the Act leading to escapement of income from taxation, and the said findings of the AO with respect to bogus and sham purchases have become conclusive and final as the assessee has not challenged the findings of the learned AO made in the assessment order dated 24.12.2009 passed

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

section 10(38) of the Act. It is an admitted position that during assessment proceedings the Ld. AO brought to the notice of the assessee that AIR data, ITS query (ITD) revealed that she had the impugned long term capital gain from penny stock company i.e. M/s. HPC Biosciences Limited and that as per Investigation Report

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 gains derived on redemption of mutual fund units acquired\non or after 1 April 2017 is INR 282,67,71,265\n\n• As per section 2(42A) of the Act, units of equity oriented mutual\nfund shall be long-term in nature inhere the units are held for more than 12

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

Section 12B(2)(ii) of the Indian\nI.T. Act, 1922, for the purpose of determining the capital gain\nderived from the sale of the land. The basic principle, in cases\nof this kind, is to ascertain the actual cost of acquisition to the\nassessee and in arriving at the figure of actual cost of\nacquisition the interest which has been

DCIT, CIRCLE 52(1), NEW DELHI vs. BHUPINDER SINGH BHALLA, NEW DELHI

Appeal of the revenue is dismissed

capital gains\namounting to Rs.19,59,57,813/- for taxation as per the above computation.\nI. From Latika Dutt: Purchase of land property on 03/10/2016 from Latika Dutt\nof 12 Bigha 14 Biswa bearing Khasra Nos. 298/1 (7-0) 298 MIN (2-09),\n1820/297 MIN EAST (2-11) and 1819/297 MIN WEST (0-14) in Asola Tehsil\nSaket, New Delhi

NIKESH ARORA,GURGAON vs. DCIT, INTERNATIONAL TAXATION, GURGON

In the result, appeal is allowed in the terms indicated above

Bench: We Proceed To Deal With The Substantive Issues Arising

gain in view of the provisions contained under section 49(2AA) read with section 17(2)(vi) of the Act. According to the Assessing Officer, the salary compensation received by the assessee amounting to USD 40,009,677 from SIMI US was offered to tax in the tax return in US, whereas, no tax has been offered in India. Thus