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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

capital gains related to transactions in securities. He submitted that the circular applies to a person but cannot be made applicable to each account of the person. According to him, circular is not to be construed account basis but a person basis. He further referred to circular number 768 dated 24 – 6 – 1998 with respect to the ‘date of transfer

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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

capital gains related to transactions in securities. He submitted that the circular applies to a person but cannot be made applicable to each account of the person. According to him, circular is not to be construed account basis but a person basis. He further referred to circular number 768 dated 24 – 6 – 1998 with respect to the ‘date of transfer

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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

capital gains related to transactions in securities. He submitted that the circular applies to a person but cannot be made applicable to each account of the person. According to him, circular is not to be construed account basis but a person basis. He further referred to circular number 768 dated 24 – 6 – 1998 with respect to the ‘date of transfer

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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

capital gains related to transactions in securities. He submitted that the circular applies to a person but cannot be made applicable to each account of the person. According to him, circular is not to be construed account basis but a person basis. He further referred to circular number 768 dated 24 – 6 – 1998 with respect to the ‘date of transfer

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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

capital gains related to transactions in securities. He submitted that the circular applies to a person but cannot be made applicable to each account of the person. According to him, circular is not to be construed account basis but a person basis. He further referred to circular number 768 dated 24 – 6 – 1998 with respect to the ‘date of transfer

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

21,87,78,509 17. Now, it has been well settled that if the shares which has been acquired and treated as investment from day one and held for more than a year, then sale of such shares has to be taxed under the head ‘Long Term Capital Gain’. This has been clarified by the CBDT in its following

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

21,87,78,509 17. Now, it has been well settled that if the shares which has been acquired and treated as investment from day one and held for more than a year, then sale of such shares has to be taxed under the head ‘Long Term Capital Gain’. This has been clarified by the CBDT in its following

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

21,87,78,509 17. Now, it has been well settled that if the shares which has been acquired and treated as investment from day one and held for more than a year, then sale of such shares has to be taxed under the head ‘Long Term Capital Gain’. This has been clarified by the CBDT in its following

COMMISSIONER OF INCOME TAX vs. ECE INDUSTRIES LTD.

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

21 of 22 17. As regards applicability of Section 45 is concerned, three tests are required to be applied. In this case, Section 45 applies. There is no dispute on that point. The first test is that the charging section and the computation provisions are inextricably linked. The charging section and the computation provisions together constituted an integrated Code. Therefore

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)

section 48 of the act , capital gain has to be computed in respect of the ‗full value of the consideration received or accrued‘. The coordinate bench accepted that only consideration agreed between the parties and not any hypothetical fair market value would be taken into consideration for computing capital gains. However, tribunal held that on reading of the agreement

Commissioner of Income Tax vs. ECE Industries Limited

gain. Second proviso to Section 48 is as under: 2010:DHC:6300-DB shares in, or debentures of, an Indian company referred to in the first proviso, the provisions of Clause (ii) shall have effect as if for the words "cost of acquisition" and "cost of any improvement", the words "indexed cost of acquisition" and "indexed cost of any improvement

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 245Q(1) before Respondent no.1 to determine the correctness of its belief that the capital gains that arose in the hands of the Petitioner by virtue of the sale of shares held by it in MIAL having regard to the provisions of the India-Mauritius DTAA would not be taxable in India. The Petitioner raised the following question

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

21 of 23 oriented unit and the assets purchased come for the same percentage of depreciation as prescribed in the table, the assessee would be justified in seeking adjustment in the matter of working out the capital gains.‖ 26. Learned counsel for the Revenue has relied upon Section

ITA Nos. 601/2011 & 602/2011 vs. ANSAL PROPERTIES & INFRASTRUCTURE LTD.

The appeals are disposed of

21 of 23 oriented unit and the assets purchased come for the same percentage of depreciation as prescribed in the table, the assessee would be justified in seeking adjustment in the matter of working out the capital gains.‖ 26. Learned counsel for the Revenue has relied upon Section

COMMISSIONER OF INCOME TAX vs. ANSAL PROPERTIES & INFRASTRUCTURE LTD

The appeals are disposed of

21 of 23 oriented unit and the assets purchased come for the same percentage of depreciation as prescribed in the table, the assessee would be justified in seeking adjustment in the matter of working out the capital gains.‖ 26. Learned counsel for the Revenue has relied upon Section

CIT vs. ANSAL PROPERTIES & INFRASTRUCTURE LTD

The appeals are disposed of

21 of 23 oriented unit and the assets purchased come for the same percentage of depreciation as prescribed in the table, the assessee would be justified in seeking adjustment in the matter of working out the capital gains.‖ 26. Learned counsel for the Revenue has relied upon Section

MR. SUNIL GOYAL,NOIDA vs. ITO, NEW DELHI

Appeal is disposed of in accordance with the aforesaid directions

Bench: Shri Amit Shukla & Shri Anadee Nath Misshra

section 28. It is submitted that no power is vested in the AO to increase or decrease the actual consideration for transfer of capital asset subjected to capital gains tax as held by the Supreme Court in CIT Vs Shivakani Co. Pvt Ltd (1986) 159 ITR 71 SC and K.P.Varghese Vs.ITO cannot tinker with or enhance the liability to capital