MR. NIKHIL SAWHNEY,NEW DELHI vs. ACIT, NOIDA

In the result, appeal of the assessee is dismissed

Bench: Shri Bhavnesh Saini & Shri Prashant Maharishimr. Nikhil Sawhney Acit, 17 – Sunder Nagar, Central Circle, Vs. New Delhi – 110 003. Noida. Pan: Aaups0222Q (Appellant) (Respondent)

3 ITR 10 (Bom)[FB]— "forms an integral part of the definition of 'total income'" was not satisfied. Thus, in the relevant previous year and the assessment year, or even in the subsequent year, capital gains or "capital losses" did not form part of the "total income" of the assessee which could be brought to charge, and were, therefore

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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

13. Accordingly the learned assessing officer computed the short-term capital gain and the long-term capital gain in the hands of the assessee as under:- Amount ( In Rs) Sale consideration on 19/6/2008 (STT) 56,35,46,732/- 1 12,50,000 shares (excluding STT as per proviso to section 48) Less cost of acquisition dated 26/12/2007

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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

13. Accordingly the learned assessing officer computed the short-term capital gain and the long-term capital gain in the hands of the assessee as under:- Amount ( In Rs) Sale consideration on 19/6/2008 (STT) 56,35,46,732/- 1 12,50,000 shares (excluding STT as per proviso to section 48) Less cost of acquisition dated 26/12/2007

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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

13. Accordingly the learned assessing officer computed the short-term capital gain and the long-term capital gain in the hands of the assessee as under:- Amount ( In Rs) Sale consideration on 19/6/2008 (STT) 56,35,46,732/- 1 12,50,000 shares (excluding STT as per proviso to section 48) Less cost of acquisition dated 26/12/2007

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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

13. Accordingly the learned assessing officer computed the short-term capital gain and the long-term capital gain in the hands of the assessee as under:- Amount ( In Rs) Sale consideration on 19/6/2008 (STT) 56,35,46,732/- 1 12,50,000 shares (excluding STT as per proviso to section 48) Less cost of acquisition dated 26/12/2007

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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

13. Accordingly the learned assessing officer computed the short-term capital gain and the long-term capital gain in the hands of the assessee as under:- Amount ( In Rs) Sale consideration on 19/6/2008 (STT) 56,35,46,732/- 1 12,50,000 shares (excluding STT as per proviso to section 48) Less cost of acquisition dated 26/12/2007

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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

13. Accordingly the learned assessing officer computed the short-term capital gain and the long-term capital gain in the hands of the assessee as under:- Amount ( In Rs) Sale consideration on 19/6/2008 (STT) 56,35,46,732/- 1 12,50,000 shares (excluding STT as per proviso to section 48) Less cost of acquisition dated 26/12/2007

DIRECTOR OF INCOME TAX (EXEMPTION) vs. CHARANJIV CHARITABLE TRUST

In the result both aspects of the first substantial question of law

Bench: It, Two By The Assessee Relating To The Assessment Years 2006-07 & 2007-08 & One By The Revenue Relating To The Assessment Year 2006-07. In Other Words, In Respect Of The Assessment Year 2006-07, There Were Cross- 2014:Dhc:1467-Db

13(3) of the Act are not followed, the trust would lose its exemption entirely, with the result 2014:DHC:1467-DB ITA Nos.321/2013, 322/2013 & 323/2013 Page 23 of 40 that the assessment of its income will be made according to the provisions of the Act. 23. With the above prefatory observations we may examine the facts of the case

ADIT(E), NEW DELHI vs. M/S. IILM FOUNDATION, NEW DELHI

In the result, the appeal of the assessee is partly allowed and appeals of the Revenue are dismissed

Bench: Shri G.S. Pannu & Shri Amit Shukla(Through Video Conferencing) Assessment Year: 2007-08

capital expenditure incurred during the year as application of income towards charitable purposes while computing income under section 11 of the Act. Ground no.21 is accordingly allowed.” (emphasis supplied) ITA No. 1142/DEL/2011, 2675/DEL/2013, 2871, 2872/DEL/2014 & 1131/DEL/2016 23 26. Accordingly, he submitted that in the earlier assessment year, i.e., 2006-07, there has been over application of income and in this

ADIT (E), NEW DELHI vs. IILM FOUNDATION, NEW DELHI

In the result, the appeal of the assessee is partly allowed and appeals of the Revenue are dismissed

Bench: Shri G.S. Pannu & Shri Amit Shukla(Through Video Conferencing) Assessment Year: 2007-08

capital expenditure incurred during the year as application of income towards charitable purposes while computing income under section 11 of the Act. Ground no.21 is accordingly allowed.” (emphasis supplied) ITA No. 1142/DEL/2011, 2675/DEL/2013, 2871, 2872/DEL/2014 & 1131/DEL/2016 23 26. Accordingly, he submitted that in the earlier assessment year, i.e., 2006-07, there has been over application of income and in this

ADIT(E), NEW DELHI vs. M/S. IILM FOUNDATION, NEW DELHI

In the result, the appeal of the assessee is partly allowed and appeals of the Revenue are dismissed

Bench: Shri G.S. Pannu & Shri Amit Shukla(Through Video Conferencing) Assessment Year: 2007-08

capital expenditure incurred during the year as application of income towards charitable purposes while computing income under section 11 of the Act. Ground no.21 is accordingly allowed.” (emphasis supplied) ITA No. 1142/DEL/2011, 2675/DEL/2013, 2871, 2872/DEL/2014 & 1131/DEL/2016 23 26. Accordingly, he submitted that in the earlier assessment year, i.e., 2006-07, there has been over application of income and in this

IILM FOUNDAION,NEW DELHI vs. ADIT (EXEMPTION), NEW DELHI

In the result, the appeal of the assessee is partly allowed and appeals of the Revenue are dismissed

Bench: Shri G.S. Pannu & Shri Amit Shukla(Through Video Conferencing) Assessment Year: 2007-08

capital expenditure incurred during the year as application of income towards charitable purposes while computing income under section 11 of the Act. Ground no.21 is accordingly allowed.” (emphasis supplied) ITA No. 1142/DEL/2011, 2675/DEL/2013, 2871, 2872/DEL/2014 & 1131/DEL/2016 23 26. Accordingly, he submitted that in the earlier assessment year, i.e., 2006-07, there has been over application of income and in this

ITO (E), NEW DELHI vs. M/S. IILM FOUNDATION, NEW DELHI

In the result, the appeal of the assessee is partly allowed and appeals of the Revenue are dismissed

Bench: Shri G.S. Pannu & Shri Amit Shukla(Through Video Conferencing) Assessment Year: 2007-08

capital expenditure incurred during the year as application of income towards charitable purposes while computing income under section 11 of the Act. Ground no.21 is accordingly allowed.” (emphasis supplied) ITA No. 1142/DEL/2011, 2675/DEL/2013, 2871, 2872/DEL/2014 & 1131/DEL/2016 23 26. Accordingly, he submitted that in the earlier assessment year, i.e., 2006-07, there has been over application of income and in this

ACIT, NEW DELHI vs. M/S. PURAN ASSOCIATES PVT. LTD., NEW DELHI

In the result, the appeal of the Revenue is partly allowed for statistical purposes

Bench: Shri Amit Shukla & Shri O.P. Kant

13,29,232 Long Term Capital Gain on sale of shares of ABN Amro Securities Pvt. Ltd. 2,93,99,990 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 day one and held

ACIT, NEW DELHI vs. M/S PURAN ASSOCIATES PVT. LTD., NEW DELHI

In the result, the appeal of the Revenue is partly allowed for statistical purposes

Bench: Shri Amit Shukla & Shri O.P. Kant

13,29,232 Long Term Capital Gain on sale of shares of ABN Amro Securities Pvt. Ltd. 2,93,99,990 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 day one and held

DCIT, NEW DELHI vs. M/S. PURAN ASSOCIATES PVT. LTD., NEW DELHI

In the result, the appeal of the Revenue is partly allowed for statistical purposes

Bench: Shri Amit Shukla & Shri O.P. Kant

13,29,232 Long Term Capital Gain on sale of shares of ABN Amro Securities Pvt. Ltd. 2,93,99,990 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 day one and held

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)

capital gain of Rs 67,87654/-. Apart from that, the assessee has also shown income from dividend which has been claimed as exempt income. 4. The assessee has filed return of income, declaring at Rs.72,16,819/-. The case of the assessee was selected for scrutiny and assessment under section 143(3) has been framed on 24-12-2008 assessing

ACIT, MEERUT vs. M/S. SPACE AGE RESEARCH & TECHNOLOGY FOUNDATION CHARITABLE TRUST, MEERUT

In the result Ground No. 1 and 3 of the appeal of the revenue is allowed and ground No

Bench: Shri H.S.Sidhu & Shri Prashant Maharishiacit, Space Age Research & Vs. Circle-2, Meerut Technology Foundation, Charitable Trust, Railway Road, Meerut Pan: Aabts7321M (Appellant) (Respondent)

capital loan were underutilized, it could not entitle the AO to draw any adverse inference. I have already held that the onus to prove that such creditors/depositors were name lenders and the Trust was diverting the Trust fund for the benefit of persons specified u/s 13(3) of the I.T. Act was on the AO which