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)

201-208 Part B-V - Legal submissions on Control and management in view of the facts of the case 25 (I) Prima Case of Tax Avoidance as the control and management of 209-222 affairs of the Applicants vests wholly in India-Article 4( 1) of the Indo Mauritius Treaty read with Section 6(3) of the IT Act India

USHA SHARMA,NEW DELHI vs. ITO (INTERNATIONAL TAXATION), NEW DELHI

In the result, the appeal and stay application of the assessee are dismissed

Bench: : Shri Bhavnesh Saini & Shri L.P. Sahu

Capital Gain tax payable by the Rs. 12,80,000/- vendee as per section 1 95 of the IT Act 1% deducted on account of TDS as per Government of Rs. 1,20,000/- India notification (The sale consideration has been paid by the Vendees after tax deduction at source (TDS) @ 1% as per Govt. of India notification, amounting

MR. SANJEEV GUPTA,NEW DELHI vs. ADDL.CIT, NEW DELHI

In the result, ground No. 3 and 4 With respect to the disallowance of export commission of the appeal of the assessee are allowed

Bench: Shri Amit Shukla & Shri Prashant Maharishisanjeev Gupta, Vs. Addl. Cit, E-31, Kamla Nagar, Range-20, New Delhi New Delhi Pan:Ahcpg7326A (Appellant) (Respondent)

201, then, for the purpose of this sub-clause, it shall be deemed that the assessee has deducted and paid the tax on such sum on the date of furnishing of return of income by the resident payee referred to in the said proviso.' (ii) Explanation 2 to Section 195(1) of the Act :— 'Section 195 - Other sums: (1

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

Bench: Shri Anubhav Sharma & Shri Manish Agarwal

201. • Further, where the intention of the legislature urns to cover underlying assets directly or indirectly, the same has been expressly mentioned in relevant Articles. For eg. Article 13(3) of India-UAE DTAA provides for taxability in India on gains from the alienation of shares of the capital stock of a company the property of which, consists directly

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

Bench: Shri Satbeer Singh Godara & Shri S.Rifaur Rahman

section 6(3) of the Act, what is required to be seen is de facto control, i.e., where the control and management is actually exercised. In the instant case, it is very clear that the control and management was exercised by the board of directors in Mauritius since all the 11 meeting during the previous year relevant

M/S. BHARTI AIRTEL LTD.,NEW DELHI vs. ADDL. CIT, NEW DELHI

In the result appeal of the assessee with respect to ground No

Bench: Shri I.C.Sudhir & Shri Prashant Maharishibharti Airtel Ltd, Addl Cit, Bharti Crescent, 1, Vs. Range-2, Cr Building, Ip Nelson Mandela Road, Vasant Estate, New Delhi Kunj, New Delhi Pan:Aaacb2894G (Appellant) (Respondent) Bharti Airtel Ltd, Addl Cit, Bharti Crescent, 1, Vs. Range-2, Cr Building, Ip Nelson Mandela Road, Vaxant Estate, New Delhi Kunj, New Delhi Pan:Aaacb2894G (Appellant) (Respondent)

Capital Markets (India) (P.) Ltd: 379 ITR 146 wherein, again, it has been reiterated that where assessee was under bona fide belief that tax was not deductible at source, disallowance made under section 40(a)(ia) of the Act could not be sustained for non-deduction of tax at source. v. Further, the Delhi Bench of the Tribunal

MANISH TYAGI,GHAZIABAD vs. ITO, GHAZIABAD

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

Bench: Shri Amit Shukla & Shri Prashant Maharishi(Through Video Conferencing) Manish Tyagi, Vs. Ito, House No. 131, Sector-6, Ward-1(4), Chiranjeev Vihar, Ghaziabad Ghaziabad Pan: Acgpt1413J (Appellant) (Respondent)

1 )(d), there could be no manner of doubt that, before an Assessing Officer proceeds to assess the income in the hands of the agent, he has to pass an order u/s 163. The determination of a question of agency can not be postponed to be taken-up alongwith the assessment, as was the case under 1922 Act. f) Bangalore

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

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

ACIT, DELHI vs. M/S. THE INDIAN NEWS PAPER SOCIETY, NEW DELHI

Bench: Shri Sudhanshu Srivastava & Shri Anadee Nath Misshra

201 and on clause (ii) of the Explanation to section 1.53 is of no avail of and cannot, assist the Assessing Officer to save the impugned order from the taint of crossing the period of limitation. In the result, I allow the plea of limitation raised by the appellant and therefore, ground Nos. 2 and 3 are allowed”' 9. After

CAIRN UK HOLDING LTD.,AHMEDABAD vs. DCIT (INTERNATIONAL TAXATION), NEW DELHI

In the result ground No. 5 of the appeal of the assessee is allowed

Bench: Shri H. S. Sidhu & Shri Prashant Maharishi

Section 148, the reassessment had been initiated without any basis and information and as such the same is liable to be quashed. Furthermore, as noted above, no new documents were discovered by the survey proceedings in January 2014 - all of the documents in question had been in the hands of the government in 2006. The reason that

(Now known as Sony India Limited)

capital, transportation, level of the market, i.e. retail or wholesale and so forth. The Rules and the analytical steps. 71. Sub-Sections (1) and (2) to Section 92C are applicable to the assessed, as well as the Assessing Officer invoking power under Sub-Section (3) to Section 92C of the Act. As noted above, sub-section (2) to Section

SHIV KUMAR JATIA,NEW DELHI vs. ITO, WARD- 10(2), NEW DELHI

The appeals of the assessee are allowed

Bench: Sh. Bhavnesh Sainidr. B. R. R. Kumar(Through Video Conferencing) Ita No. 7256/Del/2019 : Asstt. Year : 2011-12 Ita No. 241/Del/2019 : Asstt. Year : 2013-14 Sh. Shiv Kumar Jatia, Vs Income Tax Officer, B-50, Gulmohar Park, Ward-10(2), New Delhi-110049 New Delhi-110002 (Appellant) (Respondent) Pan No. Aabpj7582K Assessee By : Sh. C. S. Aggarwal, Sr. Adv. Revenue By : Sh. Prakash Dubey, Sr. Dr Date Of Hearing: 10.03.2021 Date Of Pronouncement: 26.04.2021

gains under clause (38) of section 10 will be available for transfer made between 1st February, 2018 and 31st March, 2018, the long-term capital loss arising during this period will not be allowed to be set-off or carried forward.” 4. Aggrieved the assessee filed appeal before us. 5. The ld. AR mainly argued referring to the provisions

SHIV KUMAR JATIA,NEW DELHI vs. ITO, WARD- 10(2), NEW DELHI

The appeals of the assessee are allowed

Bench: Sh. Bhavnesh Sainidr. B. R. R. Kumar(Through Video Conferencing) Ita No. 7256/Del/2019 : Asstt. Year : 2011-12 Ita No. 241/Del/2019 : Asstt. Year : 2013-14 Sh. Shiv Kumar Jatia, Vs Income Tax Officer, B-50, Gulmohar Park, Ward-10(2), New Delhi-110049 New Delhi-110002 (Appellant) (Respondent) Pan No. Aabpj7582K Assessee By : Sh. C. S. Aggarwal, Sr. Adv. Revenue By : Sh. Prakash Dubey, Sr. Dr Date Of Hearing: 10.03.2021 Date Of Pronouncement: 26.04.2021

gains under clause (38) of section 10 will be available for transfer made between 1st February, 2018 and 31st March, 2018, the long-term capital loss arising during this period will not be allowed to be set-off or carried forward.” 4. Aggrieved the assessee filed appeal before us. 5. The ld. AR mainly argued referring to the provisions

M/S CONTINENTAL DEVICE INDIA LTD.,NEW DELHI vs. ADDL. CIT, NEW DELHI

In the result, all the appeals are partly allowed

Bench: Shri N.K. Saini & Shri A.T. Varkey

201/-. However, the AO further observed that by way of increasing the sale consideration of transfer of assets to any limits, there was not going to be any tax incidence on M/s Deltron Ltd. as any short term capital gain would get absorbed in the current s well as brought forward losses and deprecation. The AO further observed that

M/S. CONTINENTAL DEVICE INDIA LTD.,,NEW DELHI vs. ADDL. CIT, NEW DELHI

In the result, all the appeals are partly allowed

Bench: Shri N.K. Saini & Shri A.T. Varkey

201/-. However, the AO further observed that by way of increasing the sale consideration of transfer of assets to any limits, there was not going to be any tax incidence on M/s Deltron Ltd. as any short term capital gain would get absorbed in the current s well as brought forward losses and deprecation. The AO further observed that

M/S CONTINENTAL DEVICE INDIA LTD.,NEW DELHI vs. ACIT, NEW DELHI

In the result, all the appeals are partly allowed

Bench: Shri N.K. Saini & Shri A.T. Varkey

201/-. However, the AO further observed that by way of increasing the sale consideration of transfer of assets to any limits, there was not going to be any tax incidence on M/s Deltron Ltd. as any short term capital gain would get absorbed in the current s well as brought forward losses and deprecation. The AO further observed that

M/S CONTINENTAL DEVICE INDIA LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, all the appeals are partly allowed

Bench: Shri N.K. Saini & Shri A.T. Varkey

201/-. However, the AO further observed that by way of increasing the sale consideration of transfer of assets to any limits, there was not going to be any tax incidence on M/s Deltron Ltd. as any short term capital gain would get absorbed in the current s well as brought forward losses and deprecation. The AO further observed that