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)

5 paras as under :- PART A - Background and the proceedings before the AAR and other Income Tax Authorities This part comprises of - Background of the case; The AAR Ruling; Order of the Assessing Officer; Order of the CIT(A); Present proceedings before the Hon'ble ITAT 1. 1. Background of the case: Facts in brief are that the assessees, Essar

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

144C(13) of the Act on following grounds:\n\n1. On the facts and in the circumstances of the case and in law, the Ld.\nAO and the DRP erred in considering the capital gains on sale of mutual\nfund units as taxable in India and making an addition of INR 297,13,00,571\nin the final assessment order

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

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

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

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

section 144C(13) of the Income-tax Act, 1961 (in short ‘the Act’), pertaining to assessment year 2017-18, AY: 2017-18 in pursuance to directions of learned Dispute Resolution Panel (DRP). 2. Before we proceed to deal with the substantive issues arising in the appeal, it is necessary to observe, a complaint dated 07.04.2023 addressed to the President, Income

BHUPINDER SINGH JULKA,NEW DELHI vs. ACIT, CIRCLE-INT. TAX. 2(1)(2), DELHI

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

Bench: Shri Kul Bharat & Shri M. Balaganesh

5,37,371/- in an order of assessment dated 26.6.2022 under Section 143(3)/ 144C(13) of the Act. 2. That the learned AO/ DRP has further erred both in law and on fact in making an addition of Rs. 3,37,202/- representing alleged short term capital gain

HOME CREDIT INTERNATIONAL A.S.,CZECH REPUBLIC vs. ASSISTANT. DEPUTY COMMISSIONER OF INCOME TAX, INTERNATIONAL TAXATION, GURGAON

In the result, appeal is partly allowed, as indicated above

Bench: Shri Saktijit Dey, Vice- & Shri Pradip Kumar Kediaassessment Year: 2020-21

Capital gains") for- (i) the transfer of all or any rights (including the granting of a licence) in respect of a patent, invention, model, design, secret formula or process or trade mark or similar property; ………. (iva) the use or right to use any industrial, commercial or scientific equipment but not including the amounts referred to in section 4413B

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

5 paras as under :-\nPART A - Background and the proceedings before the AAR\nand other Income Tax Authorities\nThis part comprises of - Background of the case; The AAR Ruling;\nOrder of the Assessing Officer; Order of the CIT(A); Present\nproceedings before the Hon'ble ITAT 1.\n1. Background of the case:\nFacts in brief are that the assessees, Essar

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

144C(13) of the Income Tax Act, 1961. 2. Following grounds have been raised by the assessee: “1. In the facts and circumstances of the case and in law, the Ld. Assessing Officer (AO) and consequently the Dispute Resolution Panel (DRP) have grossly erred by denying the appellant, the benefit of Article 13(5) and any other benefits under

BHS INDIA HOLDINGS, INC.,NEW JERSEY, USA vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE INTERNATIONAL TAXATION 1(1)(2), DELHI

The appeal is allowed and the stay application which is tagged along is dismissed being infructous

Bench: Shri Gs Pannu & Shri Anubhav Sharma

section 144C(5) and 144C(8) of the Act. 5. The Hon'ble DRP has failed to issue any specific directions to the learned Ad on the treatment of the income earned by the Appellant during the subject AY after verification of the documents produced on record by the Appellant Treatment of the capital gains

M/S MARUTI SUZUKI INDIA LTD.,,NEW DELHI vs. DCIT, NEW DELHI

5) of the Act.\n2. Since the issues are common and the appeals are connected, hence the same are heard\ntogether and being disposed off by this common order. We take up the assessee’s\nappeal being ITA No.287/Del/2016 for AY 2011-12 as lead case to adjudicate the\nissues under consideration wherein the assessee has raised the following grounds

HERSH VARDHAN KSHETRY,NOIDA vs. ACIT, CIRCLE INT. TAX. 2(1)(2), NEW DELHI

In the result, the appeal of the assesses in ITA 1876/Del/2023, ITA

Bench: Sh. C.N. Prasad & Sh. Naveen Chandraassessment Year: 2016-17

144C of the Act concluding that the Assessee under the garb of share transaction, has transacted the underlying assets of the company UEM and determined the capital gains by substituting the full value of consideration received by the Assessee (i.e., Rs. 14,25,24,594.16/) with the total capitalized value of tangible assets of the Company

NINA KSHETRY,NOIDA vs. ACIT, CIRCLE INT.TAX. 2(1)(2), NEW DELHI

In the result, the appeal of the assesses in ITA 1876/Del/2023, ITA

Bench: Sh. C.N. Prasad & Sh. Naveen Chandraassessment Year: 2016-17

144C of the Act concluding that the Assessee under the garb of share transaction, has transacted the underlying assets of the company UEM and determined the capital gains by substituting the full value of consideration received by the Assessee (i.e., Rs. 14,25,24,594.16/) with the total capitalized value of tangible assets of the Company

SANGITA KSHETRY,NOIDA vs. ACIT,CIRCLE INT.TAX. 2(1)(2), NEW DELHI

In the result, the appeal of the assesses in ITA 1876/Del/2023, ITA

Bench: Sh. C.N. Prasad & Sh. Naveen Chandraassessment Year: 2016-17

144C of the Act concluding that the Assessee under the garb of share transaction, has transacted the underlying assets of the company UEM and determined the capital gains by substituting the full value of consideration received by the Assessee (i.e., Rs. 14,25,24,594.16/) with the total capitalized value of tangible assets of the Company

HAREON SOLAR SINGAPORE PRIVATE LIMITED,SINGAPORE vs. DCIT INT. TAXATION CIRCLE-2(1)(1), NEW DELHI

In the result, the appeal of the assessee in ITA no

144C(13) of the Act.\n\n7.Still aggrieved, the assessee has now filed an appeal with the Income-tax\nAppellate Tribunal, New Delhi Benches, New Delhi, and the assessee has raised\ngrounds of appeal which are reproduced by us in the preceding paragraph of this\norder.\n\n8. The Ld. counsel for the assessee submitted before the Bench that

SARVA CAPITAL LLC,NEW DELHI vs. ACIT CIRCLE INTERNATIONAL TAX 3(1)(2), NEW DELHI

In the result, appeal is partly allowed

Bench: Shri Kul Bharat & Dr. B. R. R. Kumar

gains of Rs. 163,26,34,468 on sale of shares of Suryoday Small Finance Bank, Disha Medical Services, Rural Shores Business Services, Veritas under section 112 of the Act, as against under Article 13(4) of the India-Mauritius DTAA. b. Taxing interest income of Rs.30,00,000/- as per provisions of the Act as against under Article

SUNIL KAPOOR,NEW DELHI vs. ACIT CIRCLE INTL. TAXATION 2(1)(2), NEW DELHI

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

Bench: Shri G.S. Pannu, Hon’Ble & Ms. Astha Chandraasstt. Year: 2021-22 Shri Sunil Kapoor, Vs. Acit K-77, Lajpat Nagar-Ii, Circle Intt. New Delhi-110 024 Taxation 2(1)(2) Pan Aoips5698J New Delhi. (Appellant) (Respondent)

Capital Gain Account Scheme for the reason given in para 3.11. Accordingly, the total income was proposed to be assessed at Rs. 13,50,54,860/- vide draft assessment order dated 27.12.2022 under section 144C(1) of the Act. 7. The assessee objected to the proposed aforesaid disallowances before the Ld. DRP. The written objection filed before

SARVA CAPITAL LLC,NEW DELHI vs. ACIT, CIRCLE-3(1)(2), INTERNATIONAL TAXATION, NEW DELHI

In the result, appeal is partly allowed

Bench: Shri G.S. Pannu & Shri Saktijit Dey, Vice-Assessment Year: 2019-20 Sarva Capital Llc, Versus Acit, Circle 3(1)(2), C/O Dinesh Mehta & Co., Cas, International Taxation, 21, Dayanand Road, Darya Ganj, New Delhi. New Delhi Pan: Aaccl0102B (Appellant) (Respondent) Assessee By : Sh. Hiren Mehta, Ca & Sh. Nirbhay Mehta, Adv. Revenue By : Sh. Vizay B. Vasanta, Cit(Dr)

section 144C(13) of the Income-tax Act, 1961 pertaining to assessment year 2019-20, in pursuance to the directions of learned Dispute Resolution Penal (DRP). 2 2. Grounds Nos. 1, 3 and 7, being general grounds, do not require adjudication. 3. At the time of hearing, learned counsel appearing for the assessee, on instructions, did not press ground