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

DCIT, NEW DELHI vs. MRS. RADHIKA 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

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

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

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)

249 ITR 266 elucidated the principle relating to taxation of income in the following words: "...... It is well-settled that all receipts are not taxable under the Income-tax Act. Section 2(24) defines "income". It is no doubt an inclusive definition. However, a capital receipt 'is not income under section 2(24) unless it is chargeable

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)

Section 6(3) of the IT Act India read with Article 4(3) of the Treaty 26 (II) Judicial Dicta on tests for “control and management of affairs 223-239 situated wholly in India” 27 (III) Case of Dual Residence under the Treaty-Applicability of 235-239 Article 4(3) of Indo Mauritius DTAA Part-B-VI - Rebuttal of objections

ANALJIT SINGH,DELHI vs. DCIT, CIRCLE- 16(2), DELHI

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

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

249 was offered to tax under section 45 read with section 48 of the Act. 20. After narrating the entire facts and background of the case as above, Mr. Vohra submitted that the AO as well as the Ld. CIT(A) cannot substitute the actual sale consideration with notional consideration or fair market value for computing the capital gains

GIRISH BANSAL vs. UOI & ORS.

The appeals are allowed but in the circumstances with order as to costs

Bench: HON'BLE DR. JUSTICE S.MURALIDHAR,HON'BLE MR. JUSTICE VIBHU BAKHRU

249 ITR 266 (Bom) , it was held that the sum received by the Assessees was neither a business income nor a salary, nor an income ITA Nos. 136 & 138/2004 Page 8 of 23 attracting capital gains. Therefore, the AO justified in bringing the amount to tax under Section

GYANENDRA BANSAL vs. UOI & ORS.

The appeals are allowed but in the circumstances with order as to costs

Bench: HON'BLE DR. JUSTICE S.MURALIDHAR,HON'BLE MR. JUSTICE VIBHU BAKHRU

249 ITR 266 (Bom) , it was held that the sum received by the Assessees was neither a business income nor a salary, nor an income ITA Nos. 136 & 138/2004 Page 8 of 23 attracting capital gains. Therefore, the AO justified in bringing the amount to tax under Section

ACIT, NEW DELHI vs. M/S. KCT PAPERS LTD., NEW DELHI

In the result, grounds raised by the revenue are dismissed

Bench: Shri S.Rifaur Rahman & Shri Anubhav Sharmaacit, Circle 5 (1) Vs. M/S. Kct Papers Limited, New Delhi. Thapar House, 124, Janpath, New Delhi – 110 001. (Pan : Aacck4937D) (Appellant) (Respondent) Assessee By : Shri Rohit Jain, Advocate Shri Deepesh Jain, Advocate Shri Tavish Verma, Advocate Revenue By : Shri Kailash Dan Ratnoo, Cit Dr Date Of Hearing : 10.09.2025 Date Of Order : 05.12.2025 O R D E R Per S.Rifaur Rahman: 1. This Appeal Is Filed By The Assessee Against The Order Of Ld. Commissioner Of Income-Tax (Appeals)-Viii, New Delhi [Hereinafter Referred To As ‘Ld. Cit (A)] Dated 21.03.2014For Assessment Year 2008-09. 2. Brief Facts Of The Case Are, The Assessee Company Belongs To The Thapar Group Established By Late Lala Karam Chand Thapar. There Was A Family Settlement Between The Various Constituents Of The Karam Chand Thapar Family As A Result Of Which Revenue-Organization/Restructuring Of The Group Dated 27Th April, 2001. The Re April, 2001. The Re-Organization Of The Group Companies & Trusts Organization Of The Group Companies & Trusts Was Made Into Four Groups, As Under, Each Headed By The Sons Of Late Lala Was Made Into Four Groups, As Under, Each Headed By The Sons Of Late Lala Was Made Into Four Groups, As Under, Each Headed By The Sons Of Late Lala K.C. Thapar. The Family Tree Of Karam Chand T K.C. Thapar. The Family Tree Of Karam Chand Thapar Family Is Explained As Hapar Family Is Explained As Under In The Form Of A Diagrammatic Chart: Under In The Form Of A Diagrammatic Chart:

capital gains at the time of amalgamation and subsequent demerger in the present case. Thus, the shares of BIL received by the assessee from KCTBL at the time of tax neutral demerger was also exempt from tax and the said transaction was not considered as ‘transfer’. 33. It is submitted that section 49(1)(e)of the Act specifically provides

COMMISSIONER OF INCOME TAX DELHI vs. MS SUMAN DHAMIJA

Bench: HON'BLE DR. JUSTICE S.MURALIDHAR,HON'BLE MR. JUSTICE VIBHU BAKHRU

gains in regard to enhancement of compensation received in respect of land that has been acquired, the following conditions must be fulfilled: (i) There must be a transfer of a capital asset (ii) the compensation or consideration for such transfer has to be enhanced by a court, Tribunal or other authority 42. Two questions that have arisen in the past

COMMISSIONER OF INCOME TAX DELHI vs. MS. SUMAN DHAMIJA

gains in regard to enhancement of compensation received in respect of land that has been acquired, the following conditions must be fulfilled: (i) There must be a transfer of a capital asset (ii) the compensation or consideration for such transfer has to be enhanced by a court, Tribunal or other authority 42. Two questions that have arisen in the past

COMMISSIONER OF INCOME TAX DELHI vs. MS. SUMAN DHAMIJA

Bench: HON'BLE DR. JUSTICE S.MURALIDHAR,HON'BLE MR. JUSTICE VIBHU BAKHRU

gains in regard to enhancement of compensation received in respect of land that has been acquired, the following conditions must be fulfilled: (i) There must be a transfer of a capital asset (ii) the compensation or consideration for such transfer has to be enhanced by a court, Tribunal or other authority 42. Two questions that have arisen in the past

COMMISSIONER OF INCOME TAX DELHI vs. MS SUMAN DHAMIJA

gains in regard to enhancement of compensation received in respect of land that has been acquired, the following conditions must be fulfilled: (i) There must be a transfer of a capital asset (ii) the compensation or consideration for such transfer has to be enhanced by a court, Tribunal or other authority 42. Two questions that have arisen in the past

COMMISSIONER OF INCOME TAX vs. SHARDA KOCHHAR

The appeal is disposed of,

Section 54H, which was enacted retrospectively with effect from 1st April, 1988 to provide relief to assessees in cases where they had utilised the compensation for purchase of another specified asset to save capital gains tax. Provisions of the Land Acquisition Act, 1894 were explained and the earlier decision of the Supreme Court in the case of Hindustan Housing

RAJ KUMAR,NEW DELHI vs. ITO,WARD-58(4), DELHI

In the result, the appeal of the assessee is allowed

Bench: Shri Satbeer Singh Godara & Shri Amitabh Shukla

249 (1st Floor), Preet Vihar, Delhi purchased vide registered sale deed dated 13/10/2017 against sale of old residential house B – 131, sector – 5, Noida on 06/02/2017 for Rs.1,60,00,000/-. The Ld. Counsel invited reference to para 6 of the assessment order are reproduced below: “As evident from above, assessee’s share in the property purchased on 13/10/2017 comes