MR. TARUN SAWHNEY,NEW DELHI vs. ACIT, NOIDA

In the result, both the appeals of the assessee are allowed

Bench: Shri M. Balaganesh & Shri Sudhir Kumar

71 provides for set off of loss in respect of capital gain. 8. From the conjoint reading and plain understanding of all these sections it can be seen that, firstly, shares in the company are treated as capital asset and no ITA No. 1212 & 1213/Del/2017 Mr. Tarun Sawhney exception has been carved out in section 2

DCIT CENTRAL CIRCLE 05 , DELHI vs. DEEPAK KOTHARI , KANPUR

In the result, the appeal filed by the assessee is allowed

Bench: SHRI S. RIFAUR RAHMAN (Accountant Member), SHRI VIMAL KUMAR (Judicial Member)

71,48,678/- has been deducted to arrive at Long term capital gain of Rs.11,84,76,479/-. It is held that the appellant has rightly computed long term capital gain as per mode of computation prescribed in section 48 of Income Tax Act. 4.1.14 The Assessing Officer held that even though whole consideration was received

DEEPAK KATHARI,KANPUR vs. ACIT, CC-5, NEW DELHI

In the result, the appeal filed by the assessee is allowed

Bench: SHRI S. RIFAUR RAHMAN (Accountant Member), SHRI VIMAL KUMAR (Judicial Member)

71,48,678/- has been deducted to arrive at Long term capital gain of Rs.11,84,76,479/-. It is held that the appellant has rightly computed long term capital gain as per mode of computation prescribed in section 48 of Income Tax Act. 4.1.14 The Assessing Officer held that even though whole consideration was received

SUPERB MIND HOLDING LTD. ,NEW DELHI vs. ACIT CIRCLE INT TAX 3(1)(2), NEW DELHI

In the result, appeal of the assessee is allowed

Bench: Shri G.S. Pannu, Hon’Ble & Shri Challa Nagendra Prasadआ.अ.सं/.I.T.A No.1568/Del/2022 िनधा"रणवष"/Assessment Year: 2018-19

section 9(1)(i) of the Act, capital gain arising through or from the transfer of a capital asset situated in India would be deemed to accrue or arise in India in all cases irrespective of whether the capital asset is movable or immovable, tangible or intangible; the place of registration of the document of transfer etc. is in India

ASSISTANT COMMISSIONER OF INCOME TAX, DELHI vs. VIREET INVESTMENTS PRIVATE LIMITED, DELHI

In the result, the appeal filed by the revenue is partly allowed

Bench: Shri S.Rifaur Rahman & Shri Sudhir Kumaracit, Circle 17 (1) Vs. Vireet Investments Pvt. Ltd., Delhi. 21D, Friends Colony West, New Delhi – 110 065. (Pan : Aaacv2033M) (Appellant) (Respondent) Assessee By : Shri Manish Jain, Ca Revenue By : Ms. Sapna Bhatia, Cit Dr Date Of Hearing : 04.09.2024 Date Of Order : 06.11.2024 Order Per S.Rifaur Rahman,Am: 1. The Appeal Has Been Filed By The Assessee Against The Order Of The Learned Commissioner Of Income Tax (Appeals), Delhi/National Faceless Appeal Centre (Nfac) [“Ld. Cit(A)”, For Short] Dated 28.12.2023 For The Assessment Year 2004-05. 2. Brief Facts Of The Case Are, Assessee Filed Its Return Of Income For Assessment Year 2004-05 On 31.10.2004 Declaring Income Of Rs.34,80,69,911/-. The Same Was Processed Under Section 143 (1) Of The 2 Income-Tax Act, 1961 (For Short ‘The Act’) On 28.12.2004. The Case Was Selected For Scrutiny & Notices U/S 143(2) & 142(1) Of The Act Were Issued & Served On The Assessee. In Response, Ld. Ar For The Assessee Attended From Time To Time & Submitted Relevant Information As Called For. 3. The Assessee Was Incorporated On 03.10.1983 With The Main Objects, As Per Memorandum Of Association, To Acquire & Hold Shares, Stocks, Debentures, Debenture Stocks, Bonds, Obligations & Securities Issued Or Guaranteed By Any Company Constituted Or Carried On Business In The Republic Of India. After Considering The Submissions Of The Assessee, The Assessing Officer Proceeded To Make The Following Additions In The Assessment Completed U/S 143 (3) Of The Act :-

71 of the Act. Hence, the above said expenses cannot be claimed under the head Capital Gains under section 48 of the Act. Therefore we are inclined to decide the issue of claim of administration expenses in favour of the revenue. Ultimately, the assessee may get the benefit of claim of these 12 expenses as business expenditure under the head

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)

2. 36. In view of the above, the Assessee submits that the contention of the lower authorities that to decide the residential status, the events and documents relating to earlier years are required to be considered is unsustainable and bad in law. b. A company incorporated outside India is a resident of India only if the control and management

EMERGING INDIA FOCUS FUNDS,MAURITIUS vs. ACIT, CIRCLE INT. TAXATION 1(2)(2), DELHI

In the result, the appeal of the appeal of assessee is allowed

Capital gains derived on redemption of mutual fund units acquired\non or after 1 April 2017 is INR 282,67,71,265\n\n• As per section 2

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

Appeal of the revenue is dismissed

capital gain”.\n3.\nNotice under Section 143(2) of the Act dated 22.06.2016 was served on\nassessee. Subsequently, notices under Section 142(1) dated 10.07.2018 and\n06.09.2018 were served on assessee. In response to notices under Section 143(2)\nand 142(1) of the Act, Learned Authorised Representative of assessee made\nsubmissions through e-assessment module. On completion of assessment

HEIDELBERG CEMENT INDIA LTD.,GURGAON vs. DCIT, CIRCLE- 2 , GURGAON

In the result, appeal of the assessee is partly allowed

Bench: Shri M. Balaganesh & Shri Anubhav Sharmaheidelberg Cement India Ltd, Vs. Dcit, 9Th Floor, Tower-C, Infinity Circle-2, Towers, Dlf, Cybercity, Gurgaon Gurgaon (Appellant) (Respondent) Pan: Aabcm2359J

gain. However, as stated above, the provisions of section 71(2) are qualified by the expression -“subject to the provision of this chapter” which deals with aggregation of income and set off of losses. As stated earlier, the provisions of section 74 of the Act deals exclusively and specifically only with set off and brought forward of capital

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

2. Manpasand Beverages Limited; Listed equity shares Long Term Capital Loss on transfer - INR229,185,105 These shares were also held for more than 12 months and will qualify as LTCA. Any gains or loss arising on transfer of such asset will be taxable as Long Term Capital Gains or Long Term Capital Loss respectively. The Company incurred a loss

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

71,262/- declared by the appellant. 3. That the assessing officer erred on facts and in law in not reducing Rs.117,11,24,049/-, being amount offered to tax by the appellant in the return of income under section 43B of the Act consistent with the said amount being claimed as deduction on payment basis in the preceding assessment years

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

71,262/- declared by the appellant. 3. That the assessing officer erred on facts and in law in not reducing Rs.117,11,24,049/-, being amount offered to tax by the appellant in the return of income under section 43B of the Act consistent with the said amount being claimed as deduction on payment basis in the preceding assessment years

ACIT, CIRCLE- 26(2), DELHI vs. VIC ENTERPRISES PVT. LTD., NEW DELHI

In the result, appeal of the Revenue is dismissed

Bench: N.K. Billaiya & Ms. Astha Chandraasstt. Year: 2014-15

section 143(3) of the Act. 5. Aggrieved thereby, the assessee filed appeal before the Ld. CIT(A). During appellate proceedings also, the assessee filed written submission which has been incorporated by the Ld. CIT(A) in para 5.1 of his order. On consideration thereof, the Ld. CIT(A) held that the impugned income shown

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

71,470/-. The return was processed u/s 143(1) of the Act at returned income. The case was selected by CASS for limited scrutiny for verification of the claim of deduction under head capital gain. Notices u/s 143(2) and 142(1) were issued. On completion of proceedings ld. AO vide order dated 22.12.2017 held that an impugned of Rs.35

COMMISSIONER OF INCOME TAX

71,05,000/-. 20. As regards the alleged undisclosed capital gains on sale of land at Jaipur Highway in the amount of `19,35,769/-, the findings of the CIT (Appeals) can be 2012:DHC:5366-DB ITA Nos.713/2008, 948/2008, 892/2008, 707/2008 & 706/2008 Page 15 of 48 summarised as follows: the capital gains can arise only if property is sold

VIJAY SINGH CHAUHAN,NOIDA vs. ITO,WARD-2(5), NOIDA

The appeal of the assessee is hereby dismissed

Bench: Shri Sudhir Pareek & Shri Avdhesh Kumar Mishravijay Singh Chauhan, Income Tax Officer, House No.-193, Gali No.-3, Vs. Ward- 2(5), Noida, Village Chhalera, Sector-44, Uttar Pradesh, Noida, Uttar Pradesh India. India. Pan No: Aeipc4637E Appellant Respondent Assessee By : Sh. Naveen Kumar, Adv. Revenue By : Ms. Harpreet Kaur Hansra, Sr. Dr Date Of Hearing: 01.07.2025 Date Of Pronouncement: 26.09.2025 Order Per Sudhir Pareek, Jm: The Aforetitled Appeal Has Been Preferred Against The Order Of National Faceless Appeal Centre, Delhi [Hereinafter, In Short, ‘Cit(A)’] Dated 17.07.2023 For Ay 2015-16, By Which Appeal Of The Assessee Was Dismissed.

capital gains is exempt u/s 10(37) of the Act. In support of the claim, the appellant relied on the decision of CIT, Faridabad vs Ghanshyam (HUF) 315 ITR(1). The AO did not accept the objections of the appellant as he said that section 56(2)(viii) of the Act read with section 145A(b) is very clear that

COMMISSIONER OF INCOME TAX

gain and to or over which the employer of the persons employed therein has the right of access or control”. 2013:DHC:2955-DB ITR Nos. 49-50/1996, ITA Nos. 151/2002, 302/2002 & 480/2005 Page 30 of 45 55. The Shorter Oxford English Dictionary defines ‘article’ to mean “A particular material thing (of a specified class); a commodity; a piece

COMMISSIONER OF INCOME TAX

gain and to or over which the employer of the persons employed therein has the right of access or control”. 2013:DHC:2957-DB ITR Nos. 49-50/1996, ITA Nos. 151/2002, 302/2002 & 480/2005 Page 30 of 45 55. The Shorter Oxford English Dictionary defines ‘article’ to mean “A particular material thing (of a specified class); a commodity; a piece