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

section 14A read with Rule 8D, takes into account only the interest component which can be attributed towards the income and not forming part of total income. It has nothing to do with the earning of interest income. 4. The Appellant craves to the allowed to amend, delete or add any other grounds of appeal during the course of hearing

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)

149 ITR 215 (Del) [Revenue's Special Leave Petition dismissed @ 189 ITR (St.) 122] wherein it was held that amounts received by the assessee in pursuance of an arbitral award, whereby the assessee gave up on his claim/right to sue was not assessable as capital gains and was in effect a capital receipt. i. Similar view has been adopted

SHIVANI TAYAL,NEW DELHI vs. INCOME TAX OFFICER, WARD 49(1), NEW DELHI, DELHI

In the result, Appeal of the Assessee is allowed

Bench: Shri M. Balaganesh & Sh. Yogesh Kumar U.S.Shivani Tayal Vs. Income Tax Officer, C-27, Shop No.9-10, Ward 49(1), Mansarovar Garden, New New Delhi Delhi Pan: Andpt8647E Appellant Respondent Assessee By Advocate Ragini Handa Revenue By Sh. Sahil Kumar Bansal, Sr. Dr Date Of Hearing 06/05/2025 Date Of Pronouncement 13/06/2025 Order Per Yogesh Kumar, U.S. Jm: The Present Appeal Is Filed By The Assessee Against The Order Of The Cit(A)/National Faceless Appeal Centre (‘Nfac’ For Short) Dated

capital gain claimed u/s 10(38) of the Act on sale of scripts during the impugned AY and also that the amount of Rs. 1,35,21,188 represents bogus purchases. 7. That on the facts and circumstances of the case and in law, the Ld. CIT(A) has erred in sustaining the addition despite the fact that notice

THE COMMISSIONER OF INCOME TAX -INTERNATIONAL TAXATION-1 vs. REEMA CHAWLA

Appeals are dismissed

Bench: HON'BLE MR. JUSTICE PURUSHAINDRA KUMAR KAURAV,HON'BLE MR. JUSTICE YASHWANT VARMA

b) if the cost of the long-term specified asset is less than the capital gain arising from the transfer of the original asset, so much of the capital gain as bears to the whole of the capital gain the same proportion as the cost of acquisition of the long- term specified asset bears to the whole of the capital

THE COMMISSIONER OF INCOME TAX -INTERNATIONAL TAXATION-1 vs. REEMA CHAWLA

Appeals are dismissed

b) if the cost of the long-term specified asset is less than the capital gain arising from the transfer of the original asset, so much of the capital gain as bears to the whole of the capital gain the same proportion as the cost of acquisition of the long- term specified asset bears to the whole of the capital

SEEMA GOEL,DELHI vs. CIT A, DELHI

The appeals of the assessee are allowed

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwal

capital gain be deleted.  The interest levied under Sections 234A, 234B, and 234C be recalculated or deleted.  The penalty proceedings under Section 271(1)(c) be quashed.  Any other relief deemed fit by the Hon’ble Tribunal be granted. 15. Thereafter, the assessee has also taken additional grounds of appeal, wherein assessee has challenged the reassessment proceedings initiated

SEEMA GOEL,DELHI vs. CIT A, DELHI

The appeals of the assessee are allowed

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwal

capital gain be deleted.  The interest levied under Sections 234A, 234B, and 234C be recalculated or deleted.  The penalty proceedings under Section 271(1)(c) be quashed.  Any other relief deemed fit by the Hon’ble Tribunal be granted. 15. Thereafter, the assessee has also taken additional grounds of appeal, wherein assessee has challenged the reassessment proceedings initiated

K K SPUN INDIA LIMITED,DELHI vs. DCIT, JHANDEWALAN DELHI

The appeals of the assessee are allowed

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwal

capital gain be deleted.  The interest levied under Sections 234A, 234B, and 234C be recalculated or deleted.  The penalty proceedings under Section 271(1)(c) be quashed.  Any other relief deemed fit by the Hon’ble Tribunal be granted. 15. Thereafter, the assessee has also taken additional grounds of appeal, wherein assessee has challenged the reassessment proceedings initiated

K K SPUN INDIA LIMITED,DELHI vs. DCIT CENTRAL CIRCLE-2 NEW DELHI, JHANDEWALAN DELHI

The appeals of the assessee are allowed

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwal

capital gain be deleted.  The interest levied under Sections 234A, 234B, and 234C be recalculated or deleted.  The penalty proceedings under Section 271(1)(c) be quashed.  Any other relief deemed fit by the Hon’ble Tribunal be granted. 15. Thereafter, the assessee has also taken additional grounds of appeal, wherein assessee has challenged the reassessment proceedings initiated

SAJAN KUMAR JAIN,DELHI vs. DCIT,CENTRAL CIRCLE-25, NEW DELHI

In the result, the appeal of the assessee is allowed

Bench: Shri H.S. Sidhu & Shri B.R.R. Kumar

capital gain claimed u/s. 10(38) of the I.T. Act and disallowed the same by adding back to the total income of the assessee vide order dated 29.12.2017 and also added the commission amounting to Rs. 9,30,406/- on account of unexplained expenditure u/s. 69C of the Act, on bogus LTCG received through accommodation entries at the income

ANAND KUMAR JAIN,FARIDABAD vs. DCIT, CENTRAL CIRCLE-25, NEW DELHI

In the result, the appeal of the assessee is allowed

Bench: Shri H.S. Sidhu & Shri B.R.R. Kumar

capital gain claimed u/s. 10(38) of the I.T. Act and disallowed the same by adding back to the total income of the assessee vide order dated 29.12.2017 and also added the commission amounting to Rs. 9,30,406/- on account of unexplained expenditure u/s. 69C of the Act, on bogus LTCG received through accommodation entries at the income

SATISH DEV JAIN,DELHI vs. DCIT, CENTRAL CIRCLE-25, NEW DELHI

In the result, the appeal of the assessee is allowed

Bench: Shri H.S. Sidhu & Shri B.R.R. Kumar

capital gain claimed u/s. 10(38) of the I.T. Act and disallowed the same by adding back to the total income of the assessee vide order dated 29.12.2017 and also added the commission amounting to Rs. 9,30,406/- on account of unexplained expenditure u/s. 69C of the Act, on bogus LTCG received through accommodation entries at the income

ANAND JAIN HUF,NEW DELHI vs. DCIT, CENTRAL CIRCLE- 25, NEW DELHI

In the result, the appeal of the assessee is allowed

Bench: Shri H.S. Sidhu & Shri B.R.R. Kumar

capital gain claimed u/s. 10(38) of the I.T. Act and disallowed the same by adding back to the total income of the assessee vide order dated 29.12.2017 and also added the commission amounting to Rs. 9,30,406/- on account of unexplained expenditure u/s. 69C of the Act, on bogus LTCG received through accommodation entries at the income

ANAND KUMAR JAIN,NEW DELHI vs. DCIT, CENTRAL CIRCLE- 25, NEW DELHI

In the result, the appeal of the assessee is allowed

Bench: Shri H.S. Sidhu & Shri B.R.R. Kumar

capital gain claimed u/s. 10(38) of the I.T. Act and disallowed the same by adding back to the total income of the assessee vide order dated 29.12.2017 and also added the commission amounting to Rs. 9,30,406/- on account of unexplained expenditure u/s. 69C of the Act, on bogus LTCG received through accommodation entries at the income

ANAND KUMAR JAIN,NEW DELHI vs. DCIT, CENTRAL CIRCLE- 25, NEW DELHI

In the result, the appeal of the assessee is allowed

Bench: Shri H.S. Sidhu & Shri B.R.R. Kumar

capital gain claimed u/s. 10(38) of the I.T. Act and disallowed the same by adding back to the total income of the assessee vide order dated 29.12.2017 and also added the commission amounting to Rs. 9,30,406/- on account of unexplained expenditure u/s. 69C of the Act, on bogus LTCG received through accommodation entries at the income

ANAND JAIN HUF,NEW DELHI vs. DCIT, CENTRAL CIRCLE- 25, NEW DELHI

In the result, the appeal of the assessee is allowed

Bench: Shri H.S. Sidhu & Shri B.R.R. Kumar

capital gain claimed u/s. 10(38) of the I.T. Act and disallowed the same by adding back to the total income of the assessee vide order dated 29.12.2017 and also added the commission amounting to Rs. 9,30,406/- on account of unexplained expenditure u/s. 69C of the Act, on bogus LTCG received through accommodation entries at the income

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

149 (Mad)  Arjun Kapur vs. DCIT: 70 ITD 161 (Del.)  Slocum Investment (P) Ltd. v. DCIT: 106 ITD 1 (Del.)  Gomti Credits (P) Limited v. DCIT: 100 TTJ 1132 (Del).  Ashish Chaudhary v. ITO : ITA No. 5227/Del./2014 (Del. ITAT) In the light of the aforesaid legal position, it is clear that the nature of gain arising on transfer

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

149 (Mad)  Arjun Kapur vs. DCIT: 70 ITD 161 (Del.)  Slocum Investment (P) Ltd. v. DCIT: 106 ITD 1 (Del.)  Gomti Credits (P) Limited v. DCIT: 100 TTJ 1132 (Del).  Ashish Chaudhary v. ITO : ITA No. 5227/Del./2014 (Del. ITAT) In the light of the aforesaid legal position, it is clear that the nature of gain arising on transfer