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)

section 28(iv) of the Act as 'profits and gains of business and profession', alleging the same to be in lieu of professional/ entrepreneurial services. 4. That the CIT(A) erred on facts and in law in holding (in alternate) that compensation arising for alleged transfer of rights is taxable as short-term capital gains and not long-term capital

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)

163-174 2010- 11 &FY 2011-12 21 (IX) Board minutes of FY 2010-12 and FY 2011-12 are of doubtful 175-179 authenticity [submissions on without prejudice basis] 22 (X) ITD Profile of residential status of key management personnel 180-181 (XI) Control and management in India during FY 2011-12 - based 182-195 on Board minutes provided

MANISH TYAGI,GHAZIABAD vs. ITO, GHAZIABAD

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

Bench: Shri Amit Shukla & Shri Prashant Maharishi(Through Video Conferencing) Manish Tyagi, Vs. Ito, House No. 131, Sector-6, Ward-1(4), Chiranjeev Vihar, Ghaziabad Ghaziabad Pan: Acgpt1413J (Appellant) (Respondent)

capital gain of ^56,55,874/- belonging to Shri Ashok Kumar Tyagi, as his personal income. CIT(A) confirmed the order of Assessing Officer. CONTENTIONS Representative assessee cannot be assessed in his individual capacity in respect of income of the person represented by him a) Section 160(1) defines 05 categories of representative assessees in respect of the particular incomes

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

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

VANEET AGGARWAL,NEW DELHI vs. ACIT, CIRCLE-14(2), NEW DELHI

In the result, appeal of the Assessee is dismissed

Bench: Shri S. Rifaur Rahman & Shri Vimal Kumar

capital gains as unexplained cash credit under section 68. Pr. CIT v. Indravadan Jain, HUF (2024) 463 ITR 711 (Bom). 2) Where assessee purchased shares of a company when trading of said company was suspended and sold same and claimed exemption under section 10(38), in absence of any material brought on record to suggest that purchase and sale

ITO,WARD-30(1), NEW DELHI vs. VINOD GUGNANI, NEW DELHI

In the result, grounds of Appeal of the Revenue fails, consequently the Appeal filed by the Revenue is dismissed

Bench: Shri B. R. R. Kumar & Sh. Yogesh Kumar U.S.

capital gain account he cannot be denied with the benefit of section 54(1) of the Act. 11. The above view has been fortified by the judgment of Hon’ble High Court of Karnataka in the case of CIT Vs. Ramachandra Rao 56 taxmann.com 163

UMA SINGAL,NEW DELHI vs. ACIT, CENTRL CIRCLE-3, NEW DELHI

Bench: Shri Bhavnesh Saini & Shri Prashant Maharishi

Section 132 (4A) on the basis of these two statements. It is a matter of the record - duly noted by the CIT (A) as well as ITAT that the three companies or business concerns whose monies were supposed to have been reflected in the handwritten ledgers (Bondwell Insurance Brokers, E-Synergy Infosystems Pvt. Ltd. and Paradigm Advertising) were all concerns

RITU SINGAL,NEW DELHI vs. ACIT, CENTRAL CIRCLE- 3, NEW DELHI

Bench: Shri Bhavnesh Saini & Shri Prashant Maharishi

Section 132 (4A) on the basis of these two statements. It is a matter of the record - duly noted by the CIT (A) as well as ITAT that the three companies or business concerns whose monies were supposed to have been reflected in the handwritten ledgers (Bondwell Insurance Brokers, E-Synergy Infosystems Pvt. Ltd. and Paradigm Advertising) were all concerns

THE COMMISSIONER OF INCOME TAX DELHI vs. MANI KAKKAR

Bench: HON'BLE MR. JUSTICE S. RAVINDRA BHAT,HON'BLE MR. JUSTICE R.V.EASWAR

capital gains or loss, if any. The bank accounts of Kedarnath Gupta were also called for. In addition, he was required to produce Rajinder Gupta on 15.03.2002 in connection with the sworn statement recorded from him on the date of search where he had referred to the purchase of farm houses by his brother Kedarnath Gupta. There was no response

COMMISSIONER OF INCOME TAX vs. ASHA KEDAR NATH GUPTA

Bench: HON'BLE MR. JUSTICE S. RAVINDRA BHAT,HON'BLE MR. JUSTICE R.V.EASWAR

capital gains or loss, if any. The bank accounts of Kedarnath Gupta were also called for. In addition, he was required to produce Rajinder Gupta on 15.03.2002 in connection with the sworn statement recorded from him on the date of search where he had referred to the purchase of farm houses by his brother Kedarnath Gupta. There was no response

COMMISSIONER OF INCOME TAX vs. ROHIT KEDAR NATH GUPTA

Bench: HON'BLE MR. JUSTICE S. RAVINDRA BHAT,HON'BLE MR. JUSTICE R.V.EASWAR

capital gains or loss, if any. The bank accounts of Kedarnath Gupta were also called for. In addition, he was required to produce Rajinder Gupta on 15.03.2002 in connection with the sworn statement recorded from him on the date of search where he had referred to the purchase of farm houses by his brother Kedarnath Gupta. There was no response

COMMISSIONER OF INCOME TAX vs. NITIN KEDAR NATH GUPTA

Bench: HON'BLE MR. JUSTICE S. RAVINDRA BHAT,HON'BLE MR. JUSTICE R.V.EASWAR

capital gains or loss, if any. The bank accounts of Kedarnath Gupta were also called for. In addition, he was required to produce Rajinder Gupta on 15.03.2002 in connection with the sworn statement recorded from him on the date of search where he had referred to the purchase of farm houses by his brother Kedarnath Gupta. There was no response

COMMISSIONER OF INCOME TAX vs. KEDAR NATH GUPTA

capital gains or loss, if any. The bank accounts of Kedarnath Gupta were also called for. In addition, he was required to produce Rajinder Gupta on 15.03.2002 in connection with the sworn statement recorded from him on the date of search where he had referred to the purchase of farm houses by his brother Kedarnath Gupta. There was no response

COMMISSIONER OF INCOME TAX

capital gains or loss, if any. The bank accounts of Kedarnath Gupta were also called for. In addition, he was required to produce Rajinder Gupta on 15.03.2002 in connection with the sworn statement recorded from him on the date of search where he had referred to the purchase of farm houses by his brother Kedarnath Gupta. There was no response

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

capital gain of Rs. 163,26,34,468/- u/s 112 of the Act @ 10%, in pursuance to directions of DRP as against the returned income of Rs. 16,94,79,930/- 2. That on the facts and circumstances of the case and in law, the La. AO has erred in assuming jurisdiction under section

M/S. HAVELLS INDIA LTD.,NEW DELHI vs. ACIT, NEW DELHI

The appeal of the assessee is partly allowed for statistical purpose

Bench: Shri Anil Chaturvedi & Ms Suchitra Kamble(Through Video Conferencing) Vs Havells India Ltd. Acit 1, Raj Narian Marg, Ltu Civil Lines New Delhi New Delhi Aaach0351E (Respondent) (Appellant)

section is only gains accruing as a result of transfer of the asset and nothing more. In the present case, as stated above, there was no “gain” on transfer/redemption of the shares in so far as the shares were redeemed at par value. Thus, there was no gain which accrued to the assessee as a result of redemption of such

TRIPLE ESS INFRASTRUCTURE P.LTD,NEW DELHI vs. ADDL.CIT, RANGE-27, NEW DELHI

In the result appeal of the assessee is partly allowed

Bench: Shri Amit Shukla & Shri L.P. Sahuasstt. Year: 2015-16

163 ITD 451 g. Hon’ble Mumbai Tribunal in the case of DCIT vs. Deepak Shashi Bhusan Roy (2018) 96 taxmann.com 648 h. Jindas Panchand Gandhi (2005) 279 ITR 552 (Gujarat) i. CIT vs. Anilaben Upendra Shah (2003) 262 ITR 657 (Guj) j. Hon’ble Kolkata Tribunal in the case of ACIT vs. Mrs. Sheela Chopra in ITA No. 169/Kol/2014