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

DCIT, CIRCLE 52(1), NEW DELHI vs. BHUPINDER SINGH BHALLA, NEW DELHI

Appeal of the revenue is dismissed

capital gain arising from sale of agricultural land on ground\nthat purchaser of land was a builder and thus, sald piece of land was not\nagricultural land, since view taken by Assessing Officer while rejecting\nassessee's claim was not in consonance with requirements made under\nsection 54B, Impugned order passed by him was to be set aside.\"\nHence, once

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

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

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

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

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

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

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

ACIT, CIRCLE- 27(1), NEW DELHI vs. U K PAINTS INDIA PVT. LTD., NEW DELHI

In the result, appeal of Revenue for A

Bench: Sh. Anil Chaturvedi & Sh. Anubhav Sharmaacit Vs. M/S. U. K. Paints (India) Pvt. Central Circle – 10 Ltd., 19, Dda Commercial New Delhi Complex, Kailash Colony Extn., Zamrudpur, New Delhi - 48 Pan No. Aaacu 0057 C (Appellant) (Respondent) & Co No. 244/Del/2013 (Arising Out Of Ita No.4115/Del/2013) (For Assessment Year : 2008-09) M/S. U. K. Paints (India) Vs. Acit Pvt. Ltd., 19, Dda Central Circle – 10 Commercial Complex, New Delhi Kailash Colony Extn., Zamrudpur, New Delhi-48 Pan No. Aaacu 0057 C (Appellant) (Respondent) & Acit Vs. U. K. Paints (India) Pvt. Ltd. Circle – 27(1) 19, Dda Commercial New Delhi Complex, Kailash Colony Extn., Zamrudpur, New Delhi-48 Pan No. Aaacu 0057 C (Appellant) (Respondent)

gains being capital receipt for transfer of bundle of rights with cost indeterminate, same cannot be taxed under the head “other sources” treating it as return on investment where investment was Rs.64,00,000 only as explained by Supreme Court in D. P. Sandhu case 273 ITR Page 1 Since this compensation in substance is akin to liquidated damages

ACIT, NEW DELHI vs. M/S U.K. PAINTS (INDIA) PVT. LTD.,, NEW DELHI

In the result, appeal of Revenue for A

Bench: Sh. Anil Chaturvedi & Sh. Anubhav Sharmaacit Vs. M/S. U. K. Paints (India) Pvt. Central Circle – 10 Ltd., 19, Dda Commercial New Delhi Complex, Kailash Colony Extn., Zamrudpur, New Delhi - 48 Pan No. Aaacu 0057 C (Appellant) (Respondent) & Co No. 244/Del/2013 (Arising Out Of Ita No.4115/Del/2013) (For Assessment Year : 2008-09) M/S. U. K. Paints (India) Vs. Acit Pvt. Ltd., 19, Dda Central Circle – 10 Commercial Complex, New Delhi Kailash Colony Extn., Zamrudpur, New Delhi-48 Pan No. Aaacu 0057 C (Appellant) (Respondent) & Acit Vs. U. K. Paints (India) Pvt. Ltd. Circle – 27(1) 19, Dda Commercial New Delhi Complex, Kailash Colony Extn., Zamrudpur, New Delhi-48 Pan No. Aaacu 0057 C (Appellant) (Respondent)

gains being capital receipt for transfer of bundle of rights with cost indeterminate, same cannot be taxed under the head “other sources” treating it as return on investment where investment was Rs.64,00,000 only as explained by Supreme Court in D. P. Sandhu case 273 ITR Page 1 Since this compensation in substance is akin to liquidated damages

ASHUTOSH GUPTA,GHAZIABAD vs. DCIT, CIRCLE-1, GHAIZABAD

In the result, the appeal of the assessee is allowed

Bench: Shri G.S. Pannu, Vice- & Shri Challa Nagendra Prasadassessment Year: 2013-14

Section 57 of the Act, namely, car insurance, interest on car loans and depreciation. The assessee also provided copies of agreements, entered into for lease of the vehicles, however, we noticed that the Assessing Officer restricted the depreciation to 15% only. The appendix where the rate of depreciation to be allowed on vehicles given on hire suggests that motor lorries

ACE CABS LIMITED,DELHI vs. ACIT, CIRCLE-1(2), DELHI, C R BUILDING

In the result, appeal filed by the assessee is allowed

Bench: Shri Saktijit Dey, Hon’Ble & Shri S.Rifaur Rahmanace Cabs Limited, Vs. Acit, Circle 1 (2), 562, Silver Oak Lane, Delhi. M.G. Road, Ghitorni, Delhi – 110 030. (Pan : Aaica4494R) (Appellant) (Respondent) Assessee By : Shri Gaurav Jain, Advocate Ms. Bharti Sharma, Advocate Revenue By : Shri Kanv Bali, Sr. Dr Date Of Hearing : 23.07.2024 Date Of Order : 04.10.2024 Order Per S.Rifaur Rahman,Am: 1. This Appeal Has Been Filed By The Assessee Against The Order Of Ld. Commissioner Of Income Tax (Appeals), New Delhi [“Ld. Cit(A)”, For Short]/ National Faceless Appeal Centre (Nfac) Dated 12.12.2023 For The Assessment Year 2017-18. 2. The Assessee Submitted An Application Under Rule 29 Of The Itat Rules For Admitting The Additional Evidences & The Contents Thereof Are Reproduced Below:-

164/-. It was submitted before us that the assessee company had a long-term objective of giving form and structure to the un-organized transportation industry in India. It wanted to create a similar business model as adopted by “Ola” and “Uber” to book cabs with the help of a mobile app. In order to raise funds to execute

ACIT, CIRCLE-18(2), NOIDA vs. NOIDA TOLL BRIDGE CO. LTD., NOIDA

In the result, appeal of the assessee is allowed

Bench: Shri N.K. Billaiya & Ms. Astha Chandra

164 (INR 2,955 crores) as at 31 March 2013. 3. The Statement is to be read in conjunction with Notes 3, 4 and 5, which form part of the Statement These notes provide the break-up of various heads comprised in the Statement and explain the management rationale for including or excluding certain items, which we have been informed

ACIT, CIRCLE-18(2), NOIDA vs. NOIDA TOLL BRIDGE CO. LTD., NOIDA

In the result, appeal of the assessee is allowed

Bench: Shri N.K. Billaiya & Ms. Astha Chandra

164 (INR 2,955 crores) as at 31 March 2013. 3. The Statement is to be read in conjunction with Notes 3, 4 and 5, which form part of the Statement These notes provide the break-up of various heads comprised in the Statement and explain the management rationale for including or excluding certain items, which we have been informed

ACIT, CIRCLE-18(2), NOIDA vs. NOIDA TOLL BRIDGE CO. LTD., NOIDA

In the result, appeal of the assessee is allowed

Bench: Shri N.K. Billaiya & Ms. Astha Chandra

164 (INR 2,955 crores) as at 31 March 2013. 3. The Statement is to be read in conjunction with Notes 3, 4 and 5, which form part of the Statement These notes provide the break-up of various heads comprised in the Statement and explain the management rationale for including or excluding certain items, which we have been informed