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

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 50 of the Act to consider the ‘sale of shares’ as ‘sale of asset’ for calculating short term capita gain, is invalid and not supported by any legal provisions. We therefore direct the AO to delete the additions made as Short Term Capital Gain. The grounds of appeal at 12 to 18 are allowed. 43. As the ground

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 50 of the Act to consider the ‘sale of shares’ as ‘sale of asset’ for calculating short term capita gain, is invalid and not supported by any legal provisions. We therefore direct the AO to delete the additions made as Short Term Capital Gain. The grounds of appeal at 12 to 18 are allowed. 43. As the ground

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 50 of the Act to consider the ‘sale of shares’ as ‘sale of asset’ for calculating short term capita gain, is invalid and not supported by any legal provisions. We therefore direct the AO to delete the additions made as Short Term Capital Gain. The grounds of appeal at 12 to 18 are allowed. 43. As the ground

BIGSTAR HOTELS RESORTS PVT. LTD.,NEW DELHI vs. ITO WARD 5(1), NEW DELHI

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

sections": [ "250", "143(3)", "144B", "50CA", "11UA", "11UAA", "56(2)(viib)", "234A", "234B" ], "issues": "Whether the Assessing Officer correctly determined the Fair Market Value (FMV) of unquoted shares for capital gains

FR. SAUTER AG,NEW DELHI vs. ITO WARD INTERNATIONAL TAX 1(3)(2), NEW DELHI

In the result, the Appeal in ITA No

Bench: Shri Shamim Yahya & Shri Kul Bharat[Assessment Year : 2012-13]

capital gains at Rs. 4,16,27,166 as per first proviso of section 48 and section 112 of the Act read with Rule 115A. 4 Fr. Sauter AG. Vs. ITO 5- Ground No. 5: Credit of taxes deducted at source and self-assessment tax 5.1. On the facts and in the circumstances of the ease

SUMIT DANG,DELHI vs. ACIT, CENTRAL CIRCLE- 30, DELHI

In the result, all the five appeals of the respective assessees are

Bench: Shri Chandra Mohan Garg & Shri Girish Agrawalassessment Year: 2019-20

Section 143(3) of the Income-tax Act, 1961 (hereinafter referred to as the “Act”), dated 20.05.2021 passed by ACIT, Central Circle-30, Delhi for the common assessment year 2019-20. 2. Common issue is involved in all the five appeals on account of Long Term Capital Gain on sale of property which was a joint property of the five

RAJEEV KUMAR,NEW DELHI vs. ACIT, CENTRAL CIRCLE-30, NEW DELHI

In the result, all the five appeals of the respective assessees are

Bench: Shri Chandra Mohan Garg & Shri Girish Agrawalassessment Year: 2019-20

Section 143(3) of the Income-tax Act, 1961 (hereinafter referred to as the “Act”), dated 20.05.2021 passed by ACIT, Central Circle-30, Delhi for the common assessment year 2019-20. 2. Common issue is involved in all the five appeals on account of Long Term Capital Gain on sale of property which was a joint property of the five

ANIL KUMAR,NEW DELHI vs. ACIT, CENTRAL CIRCLE-30, NEW DELHI

In the result, all the five appeals of the respective assessees are

Bench: Shri Chandra Mohan Garg & Shri Girish Agrawalassessment Year: 2019-20

Section 143(3) of the Income-tax Act, 1961 (hereinafter referred to as the “Act”), dated 20.05.2021 passed by ACIT, Central Circle-30, Delhi for the common assessment year 2019-20. 2. Common issue is involved in all the five appeals on account of Long Term Capital Gain on sale of property which was a joint property of the five

RAMESH CHAND,DELHI vs. ACIT, CENTRAL CIRCLE-30, NEW DELHI

In the result, all the five appeals of the respective assessees are

Bench: Shri Chandra Mohan Garg & Shri Girish Agrawalassessment Year: 2019-20

Section 143(3) of the Income-tax Act, 1961 (hereinafter referred to as the “Act”), dated 20.05.2021 passed by ACIT, Central Circle-30, Delhi for the common assessment year 2019-20. 2. Common issue is involved in all the five appeals on account of Long Term Capital Gain on sale of property which was a joint property of the five

BHS INDIA HOLDINGS, INC.,NEW JERSEY, USA vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE INTERNATIONAL TAXATION 1(1)(2), DELHI

The appeal is allowed and the stay application which is tagged along is dismissed being infructous

Bench: Shri Gs Pannu & Shri Anubhav Sharma

capital gains by virtue of the CBDT Circular dated 02 May 2016 and based on the factual documents furnished by the Appellant during the course of assessment proceedings and the proceedings before the Hon'ble DRP, which was not held by the learned AD as ingenuine or spurious 9. The learned AO. In passing the final order under section

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

234A and\n234B of the Act.\"\nThe Revenue has taken following grounds of appeal:-\n1.\nWhether on the facts and in the circumstances of the case and in\nlaw, the Ld. CIT(A) has erred in law and facts, in deleting the\ndisallowances amounting to Rs.47,27,10,000/- made on account of\ndepreciation 'provisional capitalization without appreciating the fact

DY. COMMISSIONER OF INCOME TAX CIRCLE 10(1), DELHI, CR BUILDING vs. INDUS TOWERS LIMITED, GURGRAM

In the result, appeal of the Revenue is dismissed

234A and\n234B of the Act.”\n\nThe Revenue has taken following grounds of appeal:-\n\n1.\nWhether on the facts and in the circumstances of the case and in\nlaw, the Ld. CIT(A) has erred in law and facts, in deleting the\ndisallowances amounting to Rs.47,27,10,000/- made on account of\ndepreciation 'provisional capitalization without appreciating

BRANDIX MAURITIUS HOLDINGS LIMITED,MAURITIUS vs. DCIT INTERNATIONAL TAXATION CIRCLE-1(1)(2), NEW DELHI

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

Bench: Shri Saktijit Dey & Shri N.K. Billaiya

capital gains in India was taxable in the hands of the holding company i.e., Brandix International Limited (“BIL”). 5.2 That, on the facts and in the circumstances of the case and in law, the learned AO/ Hon’ble DRP erred in holding that the decision to buy-back shares by BAIPL was taken on January 19,2010 being prior

INDIA PROPERTY (MAURITIUS) COMPANY II,MAURITIUS vs. ACIT, CIRCLE INT. TAXATION 2(1)(1), NEW DELHI

Bench: Shri G.S. Pannu, Hon’Ble & Shri Anubhav Sharma

234A and section 234B of the Act. 5. The Learned AO has erred in initiating penalty proceedings under Section 270A of the Act for under reporting of income in consequence of misreporting of income under section 270A(8) of the Act. 5. We have heard and perused the record. Learned Sr. counsel has primarily relied on Circular

SEEMA GOEL,DELHI vs. CIT A, DELHI

The appeals of the assessee are allowed

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwal

capital gain computation. o The assessment was conducted in a faceless manner, and the appellant was unaware of the proceedings due to lack of physical delivery of notices. 4. Erroneous Levy of Interest Under Sections 234A

SEEMA GOEL,DELHI vs. CIT A, DELHI

The appeals of the assessee are allowed

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwal

capital gain computation. o The assessment was conducted in a faceless manner, and the appellant was unaware of the proceedings due to lack of physical delivery of notices. 4. Erroneous Levy of Interest Under Sections 234A

K K SPUN INDIA LIMITED,DELHI vs. DCIT CENTRAL CIRCLE-2 NEW DELHI, JHANDEWALAN DELHI

The appeals of the assessee are allowed

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwal

capital gain computation. o The assessment was conducted in a faceless manner, and the appellant was unaware of the proceedings due to lack of physical delivery of notices. 4. Erroneous Levy of Interest Under Sections 234A