NEELU ANALJIT SINGH,NEW DELHI vs. ADDL.CIT, SPECIAL RANGE-9, NEW DELHI

In the result, appeal filed by the assessee is partly allowed with above directions

Bench: Shri H. S. Sidhu & Shri Prashant Maharishimrs. Neelu Analjit Singh, Vs. The Addl. Commissioner Of 15, Dr. Apj Abdul Kalam Road, Income Tax , New Delhi Special Range-9, Pan: Aatps06882D New Delhi (Appellant) (Respondent)

capital asset if it is held for not more than thirty-six months. However, in the case of share of an unlisted company or a unit of a Mutual Fund specified under clause (23D) of section 10 of the Income-tax Act, which is transferred during the period beginning on 1st April, 2014 and ending on 10th July

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

MR. SUNIL GOYAL,NOIDA vs. ITO, NEW DELHI

Appeal is disposed of in accordance with the aforesaid directions

Bench: Shri Amit Shukla & Shri Anadee Nath Misshra

section 28(va) the IT Act, there remains no doubt that the stipulations/restrictions placed on the appellant in terms of purchase agreement dated 21-10-2004 are identifiable with the items covered by the aforesaid clauses. Since an elaborate discussion has already been made with reference to the various undertakings, warranties and restrictions undertaken/ placed on the appellant

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

MDLR BUILDERS P.LTD,NEW DELHI vs. DCIT, CENTRAL CIRCLE-14, NEW DELHI

In the result, both the appeals filed by the respective assessees are partly allowed for statistical purpose

Bench: Sh. R. K. Panda & Sh. Kuldip Singhassessment Year: 2008-09

capital asset and, therefore, no profits or gains is chargeable to tax under section 45 (4). 20. So far as the grounds of appeal No. 1 to 1.4 are concerned wherein the CIT(A) has directed the Assessing Officer to enhance the income by Rs.13,04,50,800/-, he submitted that the CIT(A) has no power to enhance

MDLR ESTATES PVT. LTD.,NEW DELHI vs. DCIT, CENTRAL CIRCLE-14, NEW DELHI

In the result, both the appeals filed by the respective assessees are partly allowed for statistical purpose

Bench: Sh. R. K. Panda & Sh. Kuldip Singhassessment Year: 2008-09

capital asset and, therefore, no profits or gains is chargeable to tax under section 45 (4). 20. So far as the grounds of appeal No. 1 to 1.4 are concerned wherein the CIT(A) has directed the Assessing Officer to enhance the income by Rs.13,04,50,800/-, he submitted that the CIT(A) has no power to enhance

DEEPAK KATHARI,KANPUR vs. ACIT, CC-5, NEW DELHI

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

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

144 (SC) c) Hon'ble Supreme Court in the case of Excel Industries (SC) 358 ITR 0295 4.1.17 In view of above discussion, it is held that-the appellant has rightly computed long term capital gain as per mode of computation prescribed in section

DCIT CENTRAL CIRCLE 05 , DELHI vs. DEEPAK KOTHARI , KANPUR

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

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

144 (SC) c) Hon'ble Supreme Court in the case of Excel Industries (SC) 358 ITR 0295 4.1.17 In view of above discussion, it is held that-the appellant has rightly computed long term capital gain as per mode of computation prescribed in section

ESSAR COM LIMITED,MAURITIUS vs. ACIT, CIRCLE 1(2)(2), NEW DELHI

capital gains taxation by the AO\n6.1 Broad view of Essar Group Company forming part of\nthe existing arrangement\nPara 11 (page 24-27) ECL\nPara 11 (page 23-25) ECOM\n6.2 Moving of holding Essar Group in Indian Telecom\nBusiness from Onshore to offshore\nPara 12 (page 27-33) ECL\nPara 12 (page 26-31) ECOM\n6.3 Acquisition

ANANT RAJ LTD.,NEW DELHI vs. DCIT, CIRCLE-2(2), NEW DELHI

The appeal is allowed partly as indicated above

Bench: Shri Amit Shukla & Shri Prashant Maharishi

section 4 it was provided that no who owned any vacant land, shall, on or after the appointed day, alienate such land by way of sale, gift, exchange, mortgage other than simple mortgage lease or otherwise or effect a partition or create a trust of such land and any alienation made or partition effected or trust created in contravention

DCIT, CIRCLE-2(2), NEW DELHI vs. ANANT RAJ LTD., NEW DELHI

The appeal is allowed partly as indicated above

Bench: Shri Amit Shukla & Shri Prashant Maharishi

section 4 it was provided that no who owned any vacant land, shall, on or after the appointed day, alienate such land by way of sale, gift, exchange, mortgage other than simple mortgage lease or otherwise or effect a partition or create a trust of such land and any alienation made or partition effected or trust created in contravention

DCIT, CIRCLE-2(2), NEW DELHI vs. ANANT RAJ LTD., NEW DELHI

The appeal is allowed partly as indicated above

Bench: Shri Amit Shukla & Shri Prashant Maharishi

section 4 it was provided that no who owned any vacant land, shall, on or after the appointed day, alienate such land by way of sale, gift, exchange, mortgage other than simple mortgage lease or otherwise or effect a partition or create a trust of such land and any alienation made or partition effected or trust created in contravention

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

gain of Rs.6,90,68,982/- as business income. 9.3 That the assessing officer erred on facts and in law in holding that investment in units of mutual funds and shares were made as a systematic business activity, without appreciating that such investments were made on capital account and not as “stock-in-trade”. 9.4 That the assessing officer erred

MARUTI SUZUKI INDIA LTD.,NEW DELHI vs. DCIT, 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

gain of Rs.6,90,68,982/- as business income. 9.3 That the assessing officer erred on facts and in law in holding that investment in units of mutual funds and shares were made as a systematic business activity, without appreciating that such investments were made on capital account and not as “stock-in-trade”. 9.4 That the assessing officer erred

ANALJIT SINGH,DELHI vs. DCIT, CIRCLE- 16(2), DELHI

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

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

gains” u/s 45(1) of the Act has to be computed by deducting from the full value of consideration “received” or “accruing” as a result of transfer of the capital assets. The terms used in section 48 are the full value of consideration 39 | P a g e I.T.A .No.-4737/Del/2017 “received” or “accruing”, which connotes to the actual

SAKET KANOI,GURGAON vs. DCIT INTL. TAXATION, GURGAON

In the result, the appeal of the assessee is allowed

Bench: Dr. B. R. R. Kumar, Sh. Yogesh Kumar Us

section 90(1) of IT Act which is reproduced below: "90(1) The Central Government may enter into an agreement with the Government of any country outside India or specified territory outside India,- (a) for the granting of relief in respect of- (i) income on which have been paid both income-tax under this Act and income-tax in that

MODI RUBBER LTD.,NEW DELHI vs. ACIT, CIRCLE- 17(1), NEW DELHI

In the result, Ground no.2 is partly allowed

Bench: Shri Saktijit Dey- & Shri Pradip Kumar Kedia-

144, where the Supreme Court had held that income or gain is chargeable to tax on the basis of the real income earned by an assessee, unless specific provisions provide to the contrary. The Bombay High Court noted that in the case before it, the real income (capital gain) would be computed only by taking into account the real sale