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)

195/- being TDS deducted by EPSL was kept in abeyance on account of AAR proceedings in the second round. In this return it was claimed that the capital gains arising from transfer of shares in VEL was not chargeable to tax in India as per Article 13 (4) of the tax treaty. The case was taken up for scrutiny. Similarly

ESSAR COM LIMITED,MAURITIUS vs. ACIT, CIRCLE 1(2)(2), NEW DELHI

195/- being TDS deducted by EPSL was kept in\nabeyance on account of AAR proceedings in the second round. In\nthis return it was claimed that the capital gains arising from transfer\nof shares in VEL was not chargeable to tax in India as per Article\n13 (4) of the tax treaty. The case was taken up for scrutiny.\nSimilarly

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 filed by the assessee is allowed

section 10(38) on\nlong-term capital gain on sale of shares on basis of statement of entry\noperators recorded on various dates in some other proceedings not\nconnect with assessee and no opportunity to cross-examine so-called entry\nproviders was given to assessee thereby violating principles of natural\njustice, Tribunal was justified in deleting addition made by Assessing

SAIF PARTNERS INDIA IV LIMITED ,DELHI vs. ACIT INT. TAXATION-3(1)(2), DELHI

In the result, the appeal of the assessee in ITA No

Bench: Shri N.K. Billaiya & Shri Anubhav Sharma

capital gain taxation as provided in the Act. Please find enclosed the notes to computation (also furnished earlier) as Annexure 3 for detailed description in relation to transactions undertaken during the year under consideration. Further, the Company is a non-resident as per the provisions of the Act and does not create a permanent establishment in India for the relevant

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

ACIT, NEW DELHI vs. M/S. KCT PAPERS LTD., NEW DELHI

In the result, grounds raised by the revenue are dismissed

Bench: Shri S.Rifaur Rahman & Shri Anubhav Sharmaacit, Circle 5 (1) Vs. M/S. Kct Papers Limited, New Delhi. Thapar House, 124, Janpath, New Delhi – 110 001. (Pan : Aacck4937D) (Appellant) (Respondent) Assessee By : Shri Rohit Jain, Advocate Shri Deepesh Jain, Advocate Shri Tavish Verma, Advocate Revenue By : Shri Kailash Dan Ratnoo, Cit Dr Date Of Hearing : 10.09.2025 Date Of Order : 05.12.2025 O R D E R Per S.Rifaur Rahman: 1. This Appeal Is Filed By The Assessee Against The Order Of Ld. Commissioner Of Income-Tax (Appeals)-Viii, New Delhi [Hereinafter Referred To As ‘Ld. Cit (A)] Dated 21.03.2014For Assessment Year 2008-09. 2. Brief Facts Of The Case Are, The Assessee Company Belongs To The Thapar Group Established By Late Lala Karam Chand Thapar. There Was A Family Settlement Between The Various Constituents Of The Karam Chand Thapar Family As A Result Of Which Revenue-Organization/Restructuring Of The Group Dated 27Th April, 2001. The Re April, 2001. The Re-Organization Of The Group Companies & Trusts Organization Of The Group Companies & Trusts Was Made Into Four Groups, As Under, Each Headed By The Sons Of Late Lala Was Made Into Four Groups, As Under, Each Headed By The Sons Of Late Lala Was Made Into Four Groups, As Under, Each Headed By The Sons Of Late Lala K.C. Thapar. The Family Tree Of Karam Chand T K.C. Thapar. The Family Tree Of Karam Chand Thapar Family Is Explained As Hapar Family Is Explained As Under In The Form Of A Diagrammatic Chart: Under In The Form Of A Diagrammatic Chart:

section 55(2)(1), cost inflation index was to be applied with effect from 1-4-1981 instead of the year of acquisition by the assessee. 46. The Punjab & Haryana High Court in the case of DCIT v. Sushil Kumar: 231 Taxman 788 held that where capital asset was property of HUF prior to 1.4.1981 and assessee acquired absolute ownership

M/S MARUTI SUZUKI INDIA LTD.,,NEW DELHI vs. DCIT, NEW DELHI

capital gains not under the head income from\nBusiness.\n36. The next issue is whether the CBDT circular be applied prospectively or\nretrospectively, we observed that this issue was already addressed by the Hon’ble\nCalcutta High Court in the case of Century Plyboards I Ltd (supra), wherein it was\nheld that CBDT Circular 6/2016 dated 29/2/2016 would be applicable

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 151 is mechanical in law. c. Reassessment is in violation of Circular/Instruction dated 04.03.2021 as modified on 12.03.2021. 10. The ld AR elaborating on its argument that the reassessment is merely based on 'Change of Opinion', stated that the issue of sale of shares and capital gains arising therefrom has already been examined in detail during the original scrutiny

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 151 is mechanical in law. c. Reassessment is in violation of Circular/Instruction dated 04.03.2021 as modified on 12.03.2021. 10. The ld AR elaborating on its argument that the reassessment is merely based on 'Change of Opinion', stated that the issue of sale of shares and capital gains arising therefrom has already been examined in detail during the original scrutiny

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 151 is mechanical in law. c. Reassessment is in violation of Circular/Instruction dated 04.03.2021 as modified on 12.03.2021. 10. The ld AR elaborating on its argument that the reassessment is merely based on 'Change of Opinion', stated that the issue of sale of shares and capital gains arising therefrom has already been examined in detail during the original scrutiny

DABUR INVEST CORP,NEW DELHI vs. JCIT, RANGE-46, NEW DELHI

In the result, appeals of the Revenue are dismissed and appeal

Bench: Shri Challa Nagendra Prasad & Shri Avdhesh Kumar Mishraिनधा"रणवष"/Assessment Year: 2017-18 बनाम Acit, Dabur Invest Corp., 4Th Floor, Punjab Bhawan, Circle-46(1), Room No.106, Vs. Drum Shape Building, I.P. Estate, New Delhi. New Delhi. Pan No.Aadfd2529D अपीलाथ" Appellant ""यथ"/Respondent िनधा"रणवष"/Assessment Year: 2018-19 बनाम Acit, Dabur Invest Corp., 4Th Floor, Punjab Bhawan, Circle-46(1), Room No.106, Vs. Drum Shape Building, I.P. Estate, New Delhi. New Delhi. Pan No.Aadfd2529D अपीलाथ" Appellant ""यथ"/Respondent िनधा"रणवष"/Assessment Year: 2017-18 बनाम Dabur Invest Corp., Jcit, 4Th Floor, Punjab Bhawan, Vs. Range-46, New Delhi. New Delhi. Pan No.Aadfd2529D अपीलाथ" Appellant ""यथ"/Respondent िनधा"रणवष"/Assessment Year: 2018-19 बनाम Dabur Invest Corp., Jcit, 4Th Floor, Punjab Bhawan, Vs. Range-46, New Delhi. New Delhi. Pan No.Aadfd2529D अपीलाथ" Appellant ""यथ"/Respondent

195 ITR 66/61 Taxman 79 (Kar.). In view of the Revenue, the income being defined to arise on the basis of time, i.e., as a linear function of and by elapse of time, accrues to the assessee on time basis and, accordingly, working out that accrued for the current year, reflected by an increase in the option price during

ACIT, CIRCLE-46(1), NEW DELHI vs. DABUR INVEST CORP., DELHI

In the result, appeals of the Revenue are dismissed and appeal

Bench: Shri Challa Nagendra Prasad & Shri Avdhesh Kumar Mishraिनधा"रणवष"/Assessment Year: 2017-18 बनाम Acit, Dabur Invest Corp., 4Th Floor, Punjab Bhawan, Circle-46(1), Room No.106, Vs. Drum Shape Building, I.P. Estate, New Delhi. New Delhi. Pan No.Aadfd2529D अपीलाथ" Appellant ""यथ"/Respondent िनधा"रणवष"/Assessment Year: 2018-19 बनाम Acit, Dabur Invest Corp., 4Th Floor, Punjab Bhawan, Circle-46(1), Room No.106, Vs. Drum Shape Building, I.P. Estate, New Delhi. New Delhi. Pan No.Aadfd2529D अपीलाथ" Appellant ""यथ"/Respondent िनधा"रणवष"/Assessment Year: 2017-18 बनाम Dabur Invest Corp., Jcit, 4Th Floor, Punjab Bhawan, Vs. Range-46, New Delhi. New Delhi. Pan No.Aadfd2529D अपीलाथ" Appellant ""यथ"/Respondent िनधा"रणवष"/Assessment Year: 2018-19 बनाम Dabur Invest Corp., Jcit, 4Th Floor, Punjab Bhawan, Vs. Range-46, New Delhi. New Delhi. Pan No.Aadfd2529D अपीलाथ" Appellant ""यथ"/Respondent

195 ITR 66/61 Taxman 79 (Kar.). In view of the Revenue, the income being defined to arise on the basis of time, i.e., as a linear function of and by elapse of time, accrues to the assessee on time basis and, accordingly, working out that accrued for the current year, reflected by an increase in the option price during

ACIT, CIRCLE-46(1), NEW DELHI vs. DABUR INVEST CORP , DELHI

In the result, appeals of the Revenue are dismissed and appeal\nof the assessee for the AY 2017-18 is partly allowed as indicated\nabove and appeal of the assessee for the AY 2018-19 is dismissed

195 ITR 66/61 Taxman 79 (Kar.). In view\nof the Revenue, the income being defined to arise on\nthe basis of time, i.e., as a linear function of and by\nelapse of time, accrues to the assessee on time basis\nand, accordingly, working out that accrued for the\ncurrent year, reflected by an increase in the option\nprice during

DABUR INVEST CORP,NEW DELHI vs. JCIT, RANGE-46, NEW DELHI

In the result, appeals of the Revenue are dismissed and appeal\nof the assessee for the AY 2017-18 is partly allowed as indicated\nabove and appeal of the assessee for the AY 2018-19 is dismissed

195 ITR 66/61 Taxman 79 (Kar.). In view\nof the Revenue, the income being defined to arise on\nthe basis of time, i.e., as a linear function of and by\nelapse of time, accrues to the assessee on time basis\nand, accordingly, working out that accrued for the\ncurrent year, reflected by an increase in the option\nprice during

HERO MOTOCORP LTD (AS SUCCESSOR OF HERO INVESTMENT P.LTD),NEW DELHI vs. DCIT, CIRCLE 11(1), NEW DELHI

The appeal is allowed

Bench: Shri G.S. Pannu & Shri Anubhav Sharmaassessment Year: 2011-12

capital gains tax in the hands of Honda and accordingly, in terms of section 195 of the Act; (b) FEMA

INDUS TOWERS LTD.,GURUGRAM, HARYANA vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE 12(1), NEW DELHI, NEW DELHI

In the result, appeal of the Revenue is dismissed

195 but under section 192.\n12. That the appellant craves leave to add, amend, vary, omit or\nsubstitute any of the aforesaid ground/(s) of appeal either before or at the\ntime of hearing of the appeal.”\n7. First we take the assessee's appeal in ITA No.\n2607/Del/2023 [Assessment Year 2011-12].\n8. In Grounds of appeal Nos.1