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

The appeals are disposed of

capital gains and not in accordance with the provisions of Chapter IV-D relating to profit and gains of business or profession. Reference was made to Section 32, which provides for deduction of depreciation in respect of block of assets at such percentage as is prescribed provided the asset is owned by the assessee and was used for the purpose

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 :-

Section 48 of the Income Tax Act, 1961 and only following expenses are eligible to be deducted from the Income Tax Act, 1961 under the head capital gains: 1. Which are incurred wholly and exclusively in connection with the transfer of the Capital assets and 2. The cost of acquisition of the asset and the cost of any improvement thereto

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 250 of the Act, on the following grounds: On the facts, in law and in circumstances of the case, the learned CIT(A): General 1. erred in holding that the capital gains

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

Appeal of the revenue is dismissed

250 of the Income-Tax Act, 1961", "Section 143(3) of the Act", "Section 142(3) of the Act", "Section 54B of the Act", "Section 45 of the Income Tax Act, 1961", "Section 81 of Delhi Land Reform Act, 1954", "Section 47(viii) of the Act", "Section 54EC of the Act", "Section 255(4) of the Act" ], "issues": "Whether

SANGEETA DEVI JHUNJHUNWALA,NEW DELHI vs. ITO, WARD-70(1), NEW DELHI

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

Bench: Dr. Brr Kumar & Ms. Astha Chandraasstt. Year: 2015-16

gain. 20. Suman Poddar vs. ITO (2019) 112 taxmann.com 330 (SC): In this case the Hon’ble Supreme Court reproduced the relevant part of the order of CIT (Appeals) wherein he observed that in the assessment order the AO referred to the general modus operandi of bogus accommodation entry and thereafter, he has further referred to statement of parties

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)

section, as construed, would apply uniformly for all capital assets, i.e., drawing no exception for any particular class or category of the specified assets, as the 'right' shares. No addition u/s. 56(2)(vii)(c) would thus arise in the undisputed facts of the instant case, and the assessee succeeds. Conclusion 4.6 We may finally discuss the issue from

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)

section, as construed, would apply uniformly for all capital assets, i.e., drawing no exception for any particular class or category of the specified assets, as the 'right' shares. No addition u/s. 56(2)(vii)(c) would thus arise in the undisputed facts of the instant case, and the assessee succeeds. Conclusion 4.6 We may finally discuss the issue from

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

capital gains not taxable in India.", "result": "Allowed", "sections": [ "13(4)", "6(3)", "13(3A)", "13(36)", "250", "90(2)", "90(4)", "90(5)", "Article

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

250 of the Income Tax Act, 1961 (hereinafter P a g e | 2 Azizul Ghani (AY: 2015-16) referred to as ‘the Act’) arising out of assessment order dated 22.12.2017 of Ld. AO/ITO, Ward 63(3), Delhi, u/s 143(3) of the Act for AY: 2015-16. 2. Brief facts of the case are that assessee filed return of income

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

250/- on 27/03/2018 was filed by claiming exemption of Rs.96,00,000/- u/s 54 of I.T. Act. Admittedly, the appellant had not invested in specified Capital Gain Scheme, however, it is evident that the Appellant purchased a residential apartment on 13/10/2017 i.e. within two years from the date of sale of his old residential house which was sold on 06/02/2017

INCOME TAX vs. LIMITED

The appeal is dismissed

Section 50 (2) of the Act, the entire surplus amount received by the Assessee on the sale of the aforesaid office premises would be liable to „short term capital gains‟. Accordingly, capital gain was calculated by the Assessing Officer by deducting the written down value of the „block of assets‟ as on 01.04.1997 which appeared in the books

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 271(1)(c) of the Act. The Assessee craves leave to add to, alter, amend and/or withdraw any ground or grounds appeal either before or during the course of hearing appeal. Synopsis 3. The representatives of both the sides were heard at length, the case records carefully perused and we have duly considered the documentary evidences brought on record

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 271(1)(c) of the Act. The Assessee craves leave to add to, alter, amend and/or withdraw any ground or grounds appeal either before or during the course of hearing appeal. Synopsis 3. The representatives of both the sides were heard at length, the case records carefully perused and we have duly considered the documentary evidences brought on record

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 271(1)(c) of the Act. The Assessee craves leave to add to, alter, amend and/or withdraw any ground or grounds appeal either before or during the course of hearing appeal. Synopsis 3. The representatives of both the sides were heard at length, the case records carefully perused and we have duly considered the documentary evidences brought on record

SUMEET DHIMAN,PUNJAB vs. ACIT, CIRCLE-4(1), GURGAON

In the result, the Appeal filed by the assessee is dismissed

Bench: Dr. B. R. R. Kumar & Sh. Yogesh Kumar Us

capital gain amounting to rs. 27,49,611/- was held to be taxable in the hands of the assessee. 3 As against the assessment order dated 22/12/2016, the assessee has filed the appeal before the Ld. CIT(A). The Ld. CIT(A) has dismissed the appeal by confirming the addition made by the assessee vide order dated 13/02/2018. 4. Aggrieved

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

PRAVEEN RANJAN SINHA,GURGAON vs. DCIT, CIRCLE-3(1), GURGAON, GURGAON

In the result, the appeal of the assessee is allowed and Stay Application of the assessee is dismissed as infructuous

Bench: Shri Kul Bharat & Shri M. Balaganeshpraveen Ranjan Sinha, Vs. Dcit, Icb 141, The Icon, Dlf Circle-3(1), City, Phase-V, Gurgaon, Gurgaon Haryana (Appellant) (Respondent) Pan: Ardps3000N Sa No. 57/Del/2024 (In Ita No. 399/Del/2024) (Assessment Year: 2015-16) Praveen Ranjan Sinha, Vs. Dcit, Icb 141, The Icon, Dlf Circle-3(1), City, Phase-V, Gurgaon, Gurgaon Haryana (Appellant) (Respondent) Pan: Ardps3000N Assessee By : Shri Sudesh Garg, Adv Ms. Bhavya Garg, Adv Revenue By: Shri Dharambir Singh, Cit Dr Date Of Hearing 08/04/2024 Date Of Pronouncement 08/07/2024

250 of the Income Tax Act, 1961 and holding that "the disallowance of the AO on account of short-term capital gain worth Rs. 22.67,18,541/- is confirmed" with a pre-mediated mind solely to dismiss the appeal of the appellant. 2. The Ld. CIT(A) has grossly erred on facts and in law in cryptically holding that Adar

ARUNA CHAUDHARY,NEW DELHI vs. ACIT, CENTRAL CIRCLE-26, NEW DELHI

In the result, the appeal of the assessee is allowed

Bench: Dr. B. R. R. Kumarsh. Yogesh Kumar Us

250 (5) of the 1. T Act. 2.1 That the Ld. CIT (A) failed to appreciate that the additional grounds taken were the legal grounds which according to Hon'ble Apex court in case of NTPC 229 ITR 383 can be raised at any stage of the proceedings. 2.2 That the Ld. CIT(A) has erred in ignoring the judgement

ALOK KUMAR KAPOOR ,GHAZIABAD vs. DCIT, CIRCLE- 1, GZAZIABAD

In the result, appeal filed by the Assessee is allowed

Bench: Shri R.K.Panda & Shri N. K. Choudhry(Through Video Conferencing) Shrialok Kumar Kapoor, Vs. Deputy Commissioner Of Village & Post Adhyatmik Income Tax, Nagar, Ghaziabad Circle-1, Ghaziabad Pan: Aqlpk5020B (Appellant) (Respondent)

250(6) of the Income Tax Act, 1961 (in short “the Act”) for the assessment year 2009-10. 2. In this case the Assessee had filed his return of income on dated 15.02.2011 by declaring total income of Rs. 2,18,99,694/-, which was processed u/s 143(1) of the Act. Thereafter, the case of the Assesseewas selected