MDLR ESTATES PVT. LTD.,NEW DELHI vs. DCIT, CENTRAL CIRCLE-14, NEW DELHI

In the result, both the appeals filed by the respective assessees are partly allowed for statistical purpose

Bench: Sh. R. K. Panda & Sh. Kuldip Singhassessment Year: 2008-09

section 45 (4) do not apply to partner and applies to a firm. He submitted that Ld. CIT(A) incorrectly came to the conclusion that the amount of Rs.43,49,47,500/- represent the capital gain arising on sum received by the assessee as partner on retirement from the partnership firm, though the same is exempt

UDAY KUMAR VAISH,NEW DELHI vs. CIT, NEW DELHI

In the result, the appeal of the assessee is allowed

Bench: Sh. N. K. Saini, Am & Sh. Lalit Kumar, Jm Ita No. 5700/Del/2014 : Asstt. Years : 2009-10 Uday Kumar Vaish, Vs Commissioner Of Income Tax, 52/79, Ramjas Road, Karol Bagh, Central-Ii, New Delhi-110005 New Delhi (Appellant) (Respondent) Pan No. Aaipv1716G Assessee By : Dr. Rakesh Gupta & Somil Agarwal, Adv. Revenue By : Sh. Kartar Singh, Cit Dr Date Of Hearing : 29.11.2016 Date Of Pronouncement : 30.11.2016 Order Per N. K. Saini, Am: This Is An Appeal By The Assessee Against The Order Dated 06.03.2014 Of Ld. Cit, Central-Ii, New Delhi U/S 263 Of The Income Tax Act, 1961 (Hereinafter Referred To As The Act).

section 24(b) of the Act, the assessee is required to submit a certificate for making claim of interest under this provision and there is no prescribed form of certificate. During the assessment proceedings on the specific query of the AO, the assessee furnished detailed explanation supported by repayment schedule, copy of the bank statement to substantiate its claim

BRIJ BHUSHAN SINGAL,NEW DELHI vs. ACIT, CENTRAL CIRCLE- 3, NEW DELHI

Bench: Sh. N. K. Saini, Hon’Ble & Sh. K. N. Charyita No. 1412/Del/2018 : Asstt. Year : 2010-11 Ita No. 1413/Del/2018 : Asstt. Year : 2011-12 Ita No. 1414/Del/2018 : Asstt. Year : 2012-13 Sh. Brij Bhushan Singal, Vs Acit, W-29, Greater Kailash, Part-Ii, Central Circle-3, New Delhi-110048 New Delhi (Appellant) (Respondent) Pan No. Aefps6298M

Section 10(38) of the Act and that ITA Nos. 1476 to 1478/Del/2018 ITA Nos. 1482, 1485 to 1487/Del/2018 the provisions of Section 10(38) of the Act also need to be viewed in conjunction with the manner of securities market in particular stock exchanges and that the entire dealing in securities takes place electronically whereby there is no physical

BRIJ BHUSHAN SINGAL,NEW DELHI vs. ACIT, CENTRAL CIRCLE- 3, NEW DELHI

Bench: Sh. N. K. Saini, Hon’Ble & Sh. K. N. Charyita No. 1412/Del/2018 : Asstt. Year : 2010-11 Ita No. 1413/Del/2018 : Asstt. Year : 2011-12 Ita No. 1414/Del/2018 : Asstt. Year : 2012-13 Sh. Brij Bhushan Singal, Vs Acit, W-29, Greater Kailash, Part-Ii, Central Circle-3, New Delhi-110048 New Delhi (Appellant) (Respondent) Pan No. Aefps6298M

Section 10(38) of the Act and that ITA Nos. 1476 to 1478/Del/2018 ITA Nos. 1482, 1485 to 1487/Del/2018 the provisions of Section 10(38) of the Act also need to be viewed in conjunction with the manner of securities market in particular stock exchanges and that the entire dealing in securities takes place electronically whereby there is no physical

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

Bench: Sh. N. K. Saini, Hon’Ble & Sh. K. N. Charyita No. 1412/Del/2018 : Asstt. Year : 2010-11 Ita No. 1413/Del/2018 : Asstt. Year : 2011-12 Ita No. 1414/Del/2018 : Asstt. Year : 2012-13 Sh. Brij Bhushan Singal, Vs Acit, W-29, Greater Kailash, Part-Ii, Central Circle-3, New Delhi-110048 New Delhi (Appellant) (Respondent) Pan No. Aefps6298M

Section 10(38) of the Act and that ITA Nos. 1476 to 1478/Del/2018 ITA Nos. 1482, 1485 to 1487/Del/2018 the provisions of Section 10(38) of the Act also need to be viewed in conjunction with the manner of securities market in particular stock exchanges and that the entire dealing in securities takes place electronically whereby there is no physical

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

Bench: Sh. N. K. Saini, Hon’Ble & Sh. K. N. Charyita No. 1412/Del/2018 : Asstt. Year : 2010-11 Ita No. 1413/Del/2018 : Asstt. Year : 2011-12 Ita No. 1414/Del/2018 : Asstt. Year : 2012-13 Sh. Brij Bhushan Singal, Vs Acit, W-29, Greater Kailash, Part-Ii, Central Circle-3, New Delhi-110048 New Delhi (Appellant) (Respondent) Pan No. Aefps6298M

Section 10(38) of the Act and that ITA Nos. 1476 to 1478/Del/2018 ITA Nos. 1482, 1485 to 1487/Del/2018 the provisions of Section 10(38) of the Act also need to be viewed in conjunction with the manner of securities market in particular stock exchanges and that the entire dealing in securities takes place electronically whereby there is no physical

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

Bench: Sh. N. K. Saini, Hon’Ble & Sh. K. N. Charyita No. 1412/Del/2018 : Asstt. Year : 2010-11 Ita No. 1413/Del/2018 : Asstt. Year : 2011-12 Ita No. 1414/Del/2018 : Asstt. Year : 2012-13 Sh. Brij Bhushan Singal, Vs Acit, W-29, Greater Kailash, Part-Ii, Central Circle-3, New Delhi-110048 New Delhi (Appellant) (Respondent) Pan No. Aefps6298M

Section 10(38) of the Act and that ITA Nos. 1476 to 1478/Del/2018 ITA Nos. 1482, 1485 to 1487/Del/2018 the provisions of Section 10(38) of the Act also need to be viewed in conjunction with the manner of securities market in particular stock exchanges and that the entire dealing in securities takes place electronically whereby there is no physical

BRIJ BHUSHAN SINGAL,NEW DELHI vs. ACIT, CENTRAL CIRCLE- 3, NEW DELHI

Bench: Sh. N. K. Saini, Hon’Ble & Sh. K. N. Charyita No. 1412/Del/2018 : Asstt. Year : 2010-11 Ita No. 1413/Del/2018 : Asstt. Year : 2011-12 Ita No. 1414/Del/2018 : Asstt. Year : 2012-13 Sh. Brij Bhushan Singal, Vs Acit, W-29, Greater Kailash, Part-Ii, Central Circle-3, New Delhi-110048 New Delhi (Appellant) (Respondent) Pan No. Aefps6298M

Section 10(38) of the Act and that ITA Nos. 1476 to 1478/Del/2018 ITA Nos. 1482, 1485 to 1487/Del/2018 the provisions of Section 10(38) of the Act also need to be viewed in conjunction with the manner of securities market in particular stock exchanges and that the entire dealing in securities takes place electronically whereby there is no physical

SH. PRAVEEN KUMAR MALHOTRA,DELHI vs. PR. CIT- 16, NEW DELHI

In the result appeal of the assessee is allowed

Bench: Shri Amit Shukla & Shri Prashant Maharishiasstt. Year: 2012-13

section 54F. It is not in dispute that sale of shares of M/s. Sundial Infotech Pvt. Ltd. is subject to long term capital gain which is chargeable u/s 45. The assessee had sold shares of M/s.Sundial Infotech Pvt. Ltd. for a sum of Rs. 6,89,88,159/- and the net sale consideration shown was Rs. 6,74,30,171

SMT. NEELAM MALHOTRA,DELHI vs. PR. CIT- 16, NEW DELHI

In the result appeal of the assessee is allowed

Bench: Shri Amit Shukla & Shri Prashant Maharishiasstt. Year: 2012-13

section 54F. It is not in dispute that sale of shares of M/s. Sundial Infotech Pvt. Ltd. is subject to long term capital gain which is chargeable u/s 45. The assessee had sold shares of M/s.Sundial Infotech Pvt. Ltd. for a sum of Rs. 6,89,88,159/- and the net sale consideration shown was Rs. 6,74,30,171

COMMISSIONER OF INCOME TAX DELHI vs. MS. SUMAN DHAMIJA

capital gains tax; (ii) the Assessee was not the owner of the land and was not at all liable to tax in respect of the 2015:DHC:10010-DB ITA Nos.20, 21 & 24 of 2003 and WTA Nos.3, 4, 5 & 6 of 2003 Page 17 of 39 enhanced compensation and (iii) since the enhanced compensation was not finally settled

COMMISSIONER OF INCOME TAX DELHI vs. MS. SUMAN DHAMIJA

Bench: HON'BLE DR. JUSTICE S.MURALIDHAR,HON'BLE MR. JUSTICE VIBHU BAKHRU

capital gains tax; (ii) the Assessee was not the owner of the land and was not at all liable to tax in respect of the ITA Nos.20, 21 & 24 of 2003 and WTA Nos.3, 4, 5 & 6 of 2003 Page 17 of 39 enhanced compensation and (iii) since the enhanced compensation was not finally settled, the right to receive

COMMISSIONER OF INCOME TAX DELHI vs. MS SUMAN DHAMIJA

Bench: HON'BLE DR. JUSTICE S.MURALIDHAR,HON'BLE MR. JUSTICE VIBHU BAKHRU

capital gains tax; (ii) the Assessee was not the owner of the land and was not at all liable to tax in respect of the ITA Nos.20, 21 & 24 of 2003 and WTA Nos.3, 4, 5 & 6 of 2003 Page 17 of 39 enhanced compensation and (iii) since the enhanced compensation was not finally settled, the right to receive

COMMISSIONER OF INCOME TAX DELHI vs. MS SUMAN DHAMIJA

capital gains tax; (ii) the Assessee was not the owner of the land and was not at all liable to tax in respect of the 2015:DHC:10010-DB ITA Nos.20, 21 & 24 of 2003 and WTA Nos.3, 4, 5 & 6 of 2003 Page 17 of 39 enhanced compensation and (iii) since the enhanced compensation was not finally settled

DCIT, NEW DELHI vs. M/S. R.J. CORP LTD., NEW DELHI

In the result, the appeal of the assessee on this ground is allowed

Bench: Dr. B. R. R. Kumarsh. Yogesh Kumar Us

capital gain on sale of shares I am partly confirming the AO’s action. The additional income resulting from part confirmation of those grounds would also be telescoped into the above stated Rs. 8,24,33,171/- as the same is covered by the narration of the surrendered income.” 25. We find that this is an ad-hoc enhancement made

DCIT, NEW DELHI vs. M/S. R.J. CORP LTD., NEW DELHI

In the result, the appeal of the assessee on this ground is allowed

Bench: Dr. B. R. R. Kumarsh. Yogesh Kumar Us

capital gain on sale of shares I am partly confirming the AO’s action. The additional income resulting from part confirmation of those grounds would also be telescoped into the above stated Rs. 8,24,33,171/- as the same is covered by the narration of the surrendered income.” 25. We find that this is an ad-hoc enhancement made

M/S. RJ CORP LTD.,NEW DELHI vs. ACIT, NEW DELHI

In the result, the appeal of the assessee on this ground is allowed

Bench: Dr. B. R. R. Kumarsh. Yogesh Kumar Us

capital gain on sale of shares I am partly confirming the AO’s action. The additional income resulting from part confirmation of those grounds would also be telescoped into the above stated Rs. 8,24,33,171/- as the same is covered by the narration of the surrendered income.” 25. We find that this is an ad-hoc enhancement made

M/S. RJ CORP LTD.,NEW DELHI vs. ACIT, NEW DELHI

In the result, the appeal of the assessee on this ground is allowed

Bench: Dr. B. R. R. Kumarsh. Yogesh Kumar Us

capital gain on sale of shares I am partly confirming the AO’s action. The additional income resulting from part confirmation of those grounds would also be telescoped into the above stated Rs. 8,24,33,171/- as the same is covered by the narration of the surrendered income.” 25. We find that this is an ad-hoc enhancement made