NIIT FOUNDATION,NEW DELHI vs. CIT(E), NEW DELHI

In the result, the appeal of the assessee is allowed

Bench: Shri Prashant Maharishi & Shri K.N.Charyniit Foundation, Vs. Cit(E), Plot No. 8, Balaji Estate, New Delhi Sudarshan Munjal Marg, Kalkaji, New Delhi Pan: Aacan3951E (Appellant) (Respondent)

capital expenditure which is allowable to an exempt institution only. 11. In the last point the assessee has argued that the order is not erroneous in as much as prejudicial to the interest of revenue because, the AO had taken one of the possible stands. When two views are possible, and the AO has taken one of the possible views

NEELU ANALJIT SINGH,NEW DELHI vs. ADDL.CIT, SPECIAL RANGE-9, NEW DELHI

In the result, appeal filed by the assessee is partly allowed with above directions

Bench: Shri H. S. Sidhu & Shri Prashant Maharishimrs. Neelu Analjit Singh, Vs. The Addl. Commissioner Of 15, Dr. Apj Abdul Kalam Road, Income Tax , New Delhi Special Range-9, Pan: Aatps06882D New Delhi (Appellant) (Respondent)

capital gain in light of holding period of 23 months, which is less than 36 months. 5. The assessee submitted her reply on 22/12/2016. She stated that provisions of section 2 (29A) read with provisions of section 2 (42A) of The Income Tax Act as applicable for assessment year 2014 – 15

DR. PRANNOY ROY,,NEW DELHI vs. DCIT, NEW DELHI

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

2 of the reasons are merely the copy paste of the information received from the investigation wing and further in para number 3 it is indicated that no short-term capital gain or long-term capital is disclosed by the assessee whereas the revenue itself has accepted part A of the calculation of the capital gain placed at page number

DR. PRANNOY ROY,,NEW DELHI vs. DCIT, NEW DELHI

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

2 of the reasons are merely the copy paste of the information received from the investigation wing and further in para number 3 it is indicated that no short-term capital gain or long-term capital is disclosed by the assessee whereas the revenue itself has accepted part A of the calculation of the capital gain placed at page number

SMT. RADHIKA ROY,,NEW DELHI vs. DCIT, NEW DELHI

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

2 of the reasons are merely the copy paste of the information received from the investigation wing and further in para number 3 it is indicated that no short-term capital gain or long-term capital is disclosed by the assessee whereas the revenue itself has accepted part A of the calculation of the capital gain placed at page number

DCIT, NEW DELHI vs. MRS. RADHIKA ROY, NEW DELHI

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

2 of the reasons are merely the copy paste of the information received from the investigation wing and further in para number 3 it is indicated that no short-term capital gain or long-term capital is disclosed by the assessee whereas the revenue itself has accepted part A of the calculation of the capital gain placed at page number

SMT. RADHIKA ROY,,NEW DELHI vs. DCIT, NEW DELHI

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

2 of the reasons are merely the copy paste of the information received from the investigation wing and further in para number 3 it is indicated that no short-term capital gain or long-term capital is disclosed by the assessee whereas the revenue itself has accepted part A of the calculation of the capital gain placed at page number

DCIT, NEW DELHI vs. DR. PRANNOY ROY, NEW DELHI

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

2 of the reasons are merely the copy paste of the information received from the investigation wing and further in para number 3 it is indicated that no short-term capital gain or long-term capital is disclosed by the assessee whereas the revenue itself has accepted part A of the calculation of the capital gain placed at page number

PATANJALI YOGPEETH (NYAS),DELHI vs. ADIT(EXEMPTION), NEW DELHI

Appeal is allowed

Bench: Shri I.C. Sudhir & Shri L. P. Sahu

section 142(2A) while confirming the order of the Assessing Officer in denying exemption under sections 11/12 of the Act. 8.2 The ld. AR on queries raised by the Bench responded that assessee trust is not running shops or distribution of products and for those shoppings and distribution and selling of products, as on commercial basis different entity is there

COMMISSIONER OF INCOME TAX vs. ECE INDUSTRIES LTD.

Bench: HON'BLE MR. JUSTICE A.K.SIKRI,HON'BLE MR. JUSTICE SURESH KUMAR KAIT

capital asset. Explanation. - For the purposes of this sub-section, the expression "insurer" shall have the meaning assigned to it in clause (9) of section 2 of the Insurance Act, 1938 (4 of 1938).” 15. Thus broadly speaking when profits or gains

ACIT, NEW DELHI vs. M/S. PURAN ASSOCIATES PVT. LTD., NEW DELHI

In the result, the appeal of the Revenue is partly allowed for statistical purposes

Bench: Shri Amit Shukla & Shri O.P. Kant

15,41,96,869/- by treating long term capital gain and short-term capital gain as business income. 2. That on the facts and circumstances of the case and in law, the Ld. CIT (A) erred in restricting the addition made u/s. 14A from Rs. 57.64 lacs to Rs. 32.14 lacs. Ld. CIT (A) erred in giving relief

DCIT, NEW DELHI vs. M/S. PURAN ASSOCIATES PVT. LTD., NEW DELHI

In the result, the appeal of the Revenue is partly allowed for statistical purposes

Bench: Shri Amit Shukla & Shri O.P. Kant

15,41,96,869/- by treating long term capital gain and short-term capital gain as business income. 2. That on the facts and circumstances of the case and in law, the Ld. CIT (A) erred in restricting the addition made u/s. 14A from Rs. 57.64 lacs to Rs. 32.14 lacs. Ld. CIT (A) erred in giving relief

ACIT, NEW DELHI vs. M/S PURAN ASSOCIATES PVT. LTD., NEW DELHI

In the result, the appeal of the Revenue is partly allowed for statistical purposes

Bench: Shri Amit Shukla & Shri O.P. Kant

15,41,96,869/- by treating long term capital gain and short-term capital gain as business income. 2. That on the facts and circumstances of the case and in law, the Ld. CIT (A) erred in restricting the addition made u/s. 14A from Rs. 57.64 lacs to Rs. 32.14 lacs. Ld. CIT (A) erred in giving relief

Commissioner of Income Tax vs. ECE Industries Limited

capital asset. Explanation. - For the purposes of this sub-section, the expression "insurer" shall have the meaning assigned to it in clause (9) of section 2 of the Insurance Act, 1938 (4 of 1938).” 15. Thus broadly speaking when profits or gains

M/S. MUSSOORIE DEHRADUN DEVELOPMENT AUTHORITY,DEHRADUN vs. CIT, DEHRADUN

In the result we dismiss the appeal of the assessee

Bench: Shri S.K. Yadav & Shri Prashant Maharishiassessment Year:

15), trade is sufficient, therefore, this aspect is not required to be examined in detail. The word 'business' is the broadest term and is encompasses trade, commerce and other activities. Section 2(13) of the Income- tax Act defines the term 'business' as under : '2. Definitions.—. . . (13) "business"' includes any trade, commerce or manufacture or any adventure or concern

THE PR. COMMISSIONER OF INCOME TAX-4 vs. GE MONEY FINANCIAL SERVICES PVT. LTD.

Bench: HON'BLE DR. JUSTICE S.MURALIDHAR,HON'BLE MR. JUSTICE NAJMI WAZIRI

15 of 118 order dated 10th January, 2017, in the present writ petition, had observed that the cut off date shall not come in the way of reconsideration of the application of the petitioner for FC, a decision may be taken by the MoEFCC accordingly. 3.36 Subsequently on 04th October, 2021, the MoEFCC granted prior approval (Stage - I) under Section

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 effect a capital receipt. The relevant extracts of the judgement are reproduced hereunder: "7. We are, therefore, left with the question as to whether the right to claim damages in the instant case is a 'property of any kind and thus, a 'capital asset' under section 2(14)of the Act. The further question

COMMISSIONER OF INCOME TAX vs. ANSAL PROPERTIES & INFRASTRUCTURE LTD

The appeals are disposed of

Bench: HON'BLE MR. JUSTICE SANJIV KHANNA,HON'BLE MR. JUSTICE R.V.EASWAR

15. Section 50 of the Act, which has been quoted above, states that notwithstanding anything contained in Section 2(42A) where capital asset is an asset forming part of the block of assets on which depreciation has been allowed, then provisions of Sections 48 and 49 of the Act will be applicable, subject to the modification made by the section