Commissioner of Income Tax vs. ECE Industries Limited

gain. Second proviso to Section 48 is as under: 2010:DHC:6300-DB shares in, or debentures of, an Indian company referred to in the first proviso, the provisions of Clause (ii) shall have effect as if for the words "cost of acquisition" and "cost of any improvement", the words "indexed cost of acquisition" and "indexed cost of any improvement

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)

gains and was in essence a capital receipt. j. The New Delhi Bench of AAR in the case of Lead Counsel of Qualified Settlement Fund (QSF), In re: [2016] 381 ITR 1 held that Settlement amount received for surrender of capital asset of 'right to sue' has to be treated as 'capital receipt' not liable

SUMITOMO CORPORATION,NEW DELHI vs. DCIT (INTERNATIONAL TAXATION), NEW DELHI

Appeal of the assessee is partly allowed for statistical purpose

Bench: Shri R. K. Panda & Ms Suchitra Kamble(Through Video Conferencing) Sumitomo Corporation Vs Dcit (International Taxation) G-195, Circle-3(1)(2) Sarita Vihar New Delhi New Delhi Aabcs6011P (Appellant) (Respondent)

164. 3. That the Ld. AO/DRP has grossly erred in adopting the amount of capital gain accrued to the appellant at Rs. 7,31,67,675 as against declared capital gain of Rs. 90,93,355 as declared in return of income, thus, enhancing the income by Rs. 6,40,74,320. 3.1 That the Ld. AO though computed

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

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

RAMESH CHANDER BHASIN,NEW DELHI vs. ITO WARD - 53(5), NEW DELHI

Bench: Shri Bhavnesh Saini & Shri Prashant Maharishi

capital gains which have been accepted by the A.O. Wife of the assessee also sold her share in the property in reference which have been accepted by the Department under section 143(1) of the I.T. Act, 1961 and till date no action under section 147/148 have been taken. He has submitted that in the similar circumstances when claim

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

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

Section 271(1)(c) of the Act. The Assessee craves leave to add to, alter, amend and/or withdraw any ground or grounds appeal either before or during the course of hearing appeal. Synopsis 3. The representatives of both the sides were heard at length, the case records carefully perused and we have duly considered the documentary evidences brought on record

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

Section 271(1)(c) of the Act. The Assessee craves leave to add to, alter, amend and/or withdraw any ground or grounds appeal either before or during the course of hearing appeal. Synopsis 3. The representatives of both the sides were heard at length, the case records carefully perused and we have duly considered the documentary evidences brought on record

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

Section 271(1)(c) of the Act. The Assessee craves leave to add to, alter, amend and/or withdraw any ground or grounds appeal either before or during the course of hearing appeal. Synopsis 3. The representatives of both the sides were heard at length, the case records carefully perused and we have duly considered the documentary evidences brought on record

COMMISSIONER OF INCOME TAX DELHI IV vs. EASTMAN INDUSTRIES LTD.

The appeal is dismissed

capital gain arose as, during the course of previous year relevant to the assessment year under consideration, the assessee had purchased two more properties and hence, block of assets did not cease to exist at the end of the year - held that the issue was covered by the decision of Delhi Bench of the Tribunal in the case of Oswal

INCOME TAX vs. LIMITED

The appeal is dismissed

capital gain arose as, during the course of previous year relevant to the assessment year under consideration, the assessee had purchased two more properties and hence, block of assets did not cease to exist at the end of the year - held that the issue was covered by the decision of Delhi Bench of the Tribunal in the case of Oswal

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)

capital gains in GBP/ Euro was NIL, the resultant gain in Indian Rupees is NIL. The Ld. AR submitted that gain arose to the assessee on account of repatriation of foreign currency to India, which is an event separate and distinct from the event of transfer of shares of the subsidiary company. The exchange gain of Rs.2

CONTINENTAL CONSTRUCTION LTD.,NEW DELHI vs. ACIT, NEW DELHI

Appeal is dismissed

Bench: Ms Suchitra Kamble & Shri P. Maharishi & Vs Continental Construction Acit, Ltd, 28, Nehru Place, Circle – 3(1), New Delhi – 110019. Room No.390, C.R. Building, (Pan: Aaacc 2309 R) Indraprastha Estate, New Delhi (Appellant) (Respondent) & Vs Acit, Continental Construction Ltd, Circle – 3(1), 28, Nehru Place, New Delhi – 110019. Room No.390, C.R. (Pan: Aaacc 2309 R) Building, Indraprastha Estate, New Delhi (Appellant) (Respondent) Appellant By Shri Subodh Gupta, Fca Respondent By Ms. Nidhi Srivastava, Cit-D.R. Date Of Hearing 14.08.2020 Date Of Pronouncement 23.09.2020

section 45, capital gains is chargeable to tax in the previous year in which transfer took place. 29.3 The Ld. AR submitted that impugned receipt of compensation is a capital receipt not exigible to tax under the provisions of the Act. Compensation is gratuitous on compassionate ground for loss sustained by the assessee due to UN led war against Iraq

ASHOK KUMAR BANSAL,GURGAON vs. PR, CIT CENTRAL DELHI-1, DELHI

Bench: Ms. Madhumita Roy & Shri Naveen Chandra

Section 112 of the Income Tax Act, 1961, against which appellant filed an appeal P a g e | 13 ITA Nos. 1819 to 1821/Del/2025 Shri Ashok Kumar Bansal (AYs: 2017-18 to 2019-20) before CIT(A) - 24 on 07.07.2023, which is still pending adjudication. Copy of Form 35 and written submission filed before the Learned Commissioner of Income

ASHOK KUMAR BANSAL,GURGAON vs. PR, CIT CENTRAL DELHI-1, DELHI

Bench: Ms. Madhumita Roy & Shri Naveen Chandra

Section 112 of the Income Tax Act, 1961, against which appellant filed an appeal P a g e | 13 ITA Nos. 1819 to 1821/Del/2025 Shri Ashok Kumar Bansal (AYs: 2017-18 to 2019-20) before CIT(A) - 24 on 07.07.2023, which is still pending adjudication. Copy of Form 35 and written submission filed before the Learned Commissioner of Income