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)

section 48 of the Act. The Ld. AR submitted that the Assessing Officer had committed two errors while computing capital gain at Rs. 7,31,67,674/-, the first one being he had adopted conversion rate percentage TTBR i.e. telegraphic transfer buying rate on the date of transfer @ 1.62. The submission of the Ld. AR is that the agreement

SURESH KUMAR AGGARWAL,NEW DELHI vs. ACIT, CENTRAL CIRCLE-25, NEW DELHI

In the result, appeal of the assessee is partly allowed

Bench: Shri Sudhanshu Srivastava & Shri Prashant Maharishia Y 2011-12 Appellant Respondent Shri Suresh Kumar Agarwal The Assistant Commissioner Of 154, Deepali Enclave Vs. Income Tax Pitampura Central Circle -25 New Delhi New Delhi Pan :- Abvpk1318H ( Appellant ) ( Respondent ) Date Of Hearing 17-06-2020 Date Of Order 29.06.2020 Present For Assessee Shri Gautam Jain , Advocate Present For Income Tax Department :- Shri Saras Kumar Senior Departmental Representative O R D E R

capital gain. Details of Transactions entered in to by the assessee were also available on ITD. Thus, the ld AO obtained the details of transactions entered in to by assessee. These details were verified with the Income tax Return filed by the assessee, he has „reason to believe‟ that assessee has introduced his unaccounted income in the form of LTCG

AZIZUL GHANI ,NEW DELHI vs. INCOME TAX OFFICER - ITO WARD 63(3) NEW DELHI, NEW DELHI

In the result, the appeal of the assessee is allowed

Bench: Shri S Rifaur Rahman & Shri Vimal Kumarazizul Ghani Vs. Ito, Ward 63(3) 1407 Pan Mandi E-2, Block, Civic Centre, Sadar Bazar, New Delhi – 110002 Delhi – 110006 "थायीलेखासं./जीआइआरसं./Pan/Gir No: Aajpg7737K Appellant .. Respondent

Capital Gain Account Scheme: • Narayan Ravi Prakash Vs. ITO, WP No. 8936 of 2022, Karnataka HC • Venkata Dilip Kumar Vs. CIT, [2019] 419 ITR 298 (Mad), Madras HC • CIT Vs. K Ramachandra Rao, ITA No. 494 & 495 of 2013 & 46 & 47 of 2014, Karnataka HC • Shri Krishnamoorthy Vijayaraghavan Vs. ITO, ITAT Chennai, ITA No. 1976/CHNY/2025, ITAT Chennai • Sarita Gupta

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

gain of Rs.6,90,68,982/- as business income. 9.3 That the assessing officer erred on facts and in law in holding that investment in units of mutual funds and shares were made as a systematic business activity, without appreciating that such investments were made on capital account and not as “stock-in-trade”. 9.4 That the assessing officer erred

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

gain of Rs.6,90,68,982/- as business income. 9.3 That the assessing officer erred on facts and in law in holding that investment in units of mutual funds and shares were made as a systematic business activity, without appreciating that such investments were made on capital account and not as “stock-in-trade”. 9.4 That the assessing officer erred

M/S. ASHWANI KUMAR & SONS (HUF),MEERUT vs. ITO, MEERUT

In the result appeal of the assessee is dismissed

Bench: Shri I. C. Sudhir & Shri Prashant Maharishiashwani Kumar & Sons (Huf) Ito, C/0. Vinod Kumar Goel, Vs. Ward-1(1), 282, Boundary Road, Civil Lines, Meerut Meerut Pan:Aahha7564A (Appellant) (Respondent)

capital gains is reinvested in the purchase of agricultural land in the next two years was extended to a Hindu undivided family, by substitution of the words in sub-section (1), “the assessee or a parent of his”, by the words “the assessee being an individual or his parent, or a Hindu undivided family” with effect from April

COMMISSIONER OF INCOME TAX DEL vs. M/S MANSAROVAR INVESTMENTS LTD

Appeals are allowed

Bench: HON'BLE MR. JUSTICE MANMOHAN,HON'BLE MR. JUSTICE SANJEEV NARULA

section 2(47) defines 'transfer' to include 'the extinguishment of any rights' in a capital asset. 12. In this regard, our attention was drawn by the learned counsel for the assessees to the decision of a Bench of two learned judges of this Court in Vania Silk Mills (P.) Ltd. v. CIT [1991] 191 ITR 647. This was a case

THE COMMISSIONER OF INCOME TAX vs. M/S NALWA INVESTMENT LTD.

Appeals are allowed

Bench: HON'BLE MR. JUSTICE MANMOHAN,HON'BLE MR. JUSTICE SANJEEV NARULA

section 2(47) defines 'transfer' to include 'the extinguishment of any rights' in a capital asset. 12. In this regard, our attention was drawn by the learned counsel for the assessees to the decision of a Bench of two learned judges of this Court in Vania Silk Mills (P.) Ltd. v. CIT [1991] 191 ITR 647. This was a case

COMMISSIONER OF INCOME TAX DEL vs. M/S MANSAROVAR INVESTMENTS LTD

Appeals are allowed

section 2(47) defines 'transfer' to include 'the extinguishment of any rights' in a capital asset. 12. In this regard, our attention was drawn by the learned counsel for the assessees to the decision of a Bench of two learned judges of this Court in Vania Silk Mills (P.) Ltd. v. CIT [1991] 191 ITR 647. This was a case

COMMISSIONER OF INCOME TAX DEL vs. M/S M/S JINDAL EQUIPMENT LEASI

Appeals are allowed

section 2(47) defines 'transfer' to include 'the extinguishment of any rights' in a capital asset. 12. In this regard, our attention was drawn by the learned counsel for the assessees to the decision of a Bench of two learned judges of this Court in Vania Silk Mills (P.) Ltd. v. CIT [1991] 191 ITR 647. This was a case

COMMISSIONER OF INCOME TAX DEL vs. M/S ABHUINANDAN INVESTMENTS LT

Appeals are allowed

section 2(47) defines 'transfer' to include 'the extinguishment of any rights' in a capital asset. 12. In this regard, our attention was drawn by the learned counsel for the assessees to the decision of a Bench of two learned judges of this Court in Vania Silk Mills (P.) Ltd. v. CIT [1991] 191 ITR 647. This was a case

SUNITA KHEMKA,NEW DELHI vs. ACIT, CENTRAL CIRCLE- 15, JHANDEWALAN EXTN., NEW DELHI

In the result, Appeal of assessee is allowed

Bench: Shri Bhavnesh Saini

capital gain thereby claiming concessional tax rate. 27 ITA.No.389/Del./2018 Smt. Sunita Khemka, New Delhi. (vii) The scrip invested is an obscure one in most cases. It is merely Shell Company with no activities whatsoever. (viii) The buyer himself is normally unaware of the financial performance of the company in which he has invested. (ix) The shares are purchased

SNEH GUPTA,NEW DELHI vs. ACIT, CIRCLE-32(1), DELHI, DELHI

In the result, the appeal filed by the assessee is allowed on both counts on merit as well as jurisdictional issue raised by the assessee in the additional ground of appeal

Bench: SHRI SATBEER SINGH GODARA (Judicial Member), SHRI S. RIFAUR RAHMAN (Accountant Member)

section 54F of the Act. Further, Ld. CIT(A) confirmed the addition in impugned order dated 09.08.2024. Hence the present appeal. The case of the assessee is that she sold shares on 20.12.2012 and deposited capital gain in bank account under capital gain scheme and further she started construction of a residential property. For this purpose, she purchased a residential

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

SHIKHA DHAWAN,GURGAON vs. ITO, WARD- 4(2), GURGAON

In the result, the appeal of the assessee is allowed

Bench: Sh.Bhavnesh Saini[Assessment Year: 2014-15] Vs Smt. Shikha Dhawan, Ito, C-101, Centre Park, Ward-4(2), Sector-42, Gurgaon. Gurgaon. Pan-Ccbps1718L (Appellant) (Respondent) Appellant By Sh. Gautam Jain & Sh. Peeyush Kamal, Advocate Respondent By Sh. S.L.Anuragi, Sr.Dr Date Of Hearing 11.06.2018 Date Of Pronouncement 27.06.2018

capital gain thereby claiming concessional tax rate. (vii) The scrip invested is an obscure one in most cases. It is merely Shell Company with no activities whatsoever. (viii) The buyer himself is normally unaware of the financial performance of the company in which he has invested. (ix) The shares are purchased at lower rates and sold at higher rates through

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 provides that any profit & gains from transfer of a capital asset effected in the previous year shall, save as otherwise provided in the Act be chargeable to income tax under the head Capital Gains and shall be deemed to be the income of the previous year in which the transfer took place. As mentioned earlier that

ORIENT CRAFT LTD.,NEW DELHI vs. DCIT CENTRAL CIRCLE -II, GURGAON

Bench: Shri Amit Shukla & Dr. B.R.R. Kumar

capital gain and Rs.39,96,76,340/- as business income in terms of section 45(2) and section 28, is bad in law and against the facts and circumstances of the case. 5. That having regard to the facts and circumstances of the case, Ld. CIT(A) has erred in law and on facts in confirming the action

DCIT CENTRAL CIRCLE -II, GURGAON vs. ORIENT CRAFT LTD., NEW DELHI

Bench: Shri Amit Shukla & Dr. B.R.R. Kumar

capital gain and Rs.39,96,76,340/- as business income in terms of section 45(2) and section 28, is bad in law and against the facts and circumstances of the case. 5. That having regard to the facts and circumstances of the case, Ld. CIT(A) has erred in law and on facts in confirming the action