DCIT, CIRCLE-2(2), NEW DELHI vs. ANANT RAJ LTD., NEW DELHI

The appeal is allowed partly as indicated above

Bench: Shri Amit Shukla & Shri Prashant Maharishi

section 147 of the Act, the assessment can be reopened after four years in case of the assessment completed u/s 143(3) of the Act when there was a failure on the part of the assessee to fully and truly disclose the particulars of income. 26. On perusal of the computation of assessable income for the AY 2009-10 placed

DCIT, CIRCLE-2(2), NEW DELHI vs. ANANT RAJ LTD., NEW DELHI

The appeal is allowed partly as indicated above

Bench: Shri Amit Shukla & Shri Prashant Maharishi

section 147 of the Act, the assessment can be reopened after four years in case of the assessment completed u/s 143(3) of the Act when there was a failure on the part of the assessee to fully and truly disclose the particulars of income. 26. On perusal of the computation of assessable income for the AY 2009-10 placed

ANANT RAJ LTD.,NEW DELHI vs. DCIT, CIRCLE-2(2), NEW DELHI

The appeal is allowed partly as indicated above

Bench: Shri Amit Shukla & Shri Prashant Maharishi

section 147 of the Act, the assessment can be reopened after four years in case of the assessment completed u/s 143(3) of the Act when there was a failure on the part of the assessee to fully and truly disclose the particulars of income. 26. On perusal of the computation of assessable income for the AY 2009-10 placed

SH. RAKESH KUMAR GUPTA,NEW DELHI vs. ITO, NEW DELHI

In the result, the appeal is dismissed

Bench: : Shri H.S. Sidhu & Shri L.P. Sahu

Section 2(14) (i) of the Act defines a capital asset as not including stock in trade. If the assessee held the shares as "stock in trade", and not as investment, then such shares would stand excluded from the definition of "short term capital asset", and the profit earned on the sale of such shares would not be exigible

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

gain of Rs.6,90,68,982/- as business income. 9.3 That the assessing officer erred on facts and in law in holding that investment in units of mutual funds and shares were made as a systematic business activity, without appreciating that such investments were made on capital account and not as “stock-in-trade”. 9.4 That the assessing officer erred

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

gain of Rs.6,90,68,982/- as business income. 9.3 That the assessing officer erred on facts and in law in holding that investment in units of mutual funds and shares were made as a systematic business activity, without appreciating that such investments were made on capital account and not as “stock-in-trade”. 9.4 That the assessing officer erred

NEERAJ SINGAL,NEW DELHI vs. ACIT, CENTRAL CIRCLE- 3, NEW DELHI

Bench: Sh. N. K. Saini, Hon’Ble & Sh. K. N. Charyita No. 1412/Del/2018 : Asstt. Year : 2010-11 Ita No. 1413/Del/2018 : Asstt. Year : 2011-12 Ita No. 1414/Del/2018 : Asstt. Year : 2012-13 Sh. Brij Bhushan Singal, Vs Acit, W-29, Greater Kailash, Part-Ii, Central Circle-3, New Delhi-110048 New Delhi (Appellant) (Respondent) Pan No. Aefps6298M

251(1)(a) of the Income-tax Act, 1961 (the 'Act') by assessing new sources of income beyond the record (i.e. the return of income and assessment order) and outside the subject matter of assessments appealed against. 2. That without prejudice to the above, the Ld. CIT(A) exceeded the jurisdiction conferred u/s 153A of the Act by enhancing income

BRIJ BHUSHAN SINGAL,NEW DELHI vs. ACIT, CENTRAL CIRCLE- 3, NEW DELHI

Bench: Sh. N. K. Saini, Hon’Ble & Sh. K. N. Charyita No. 1412/Del/2018 : Asstt. Year : 2010-11 Ita No. 1413/Del/2018 : Asstt. Year : 2011-12 Ita No. 1414/Del/2018 : Asstt. Year : 2012-13 Sh. Brij Bhushan Singal, Vs Acit, W-29, Greater Kailash, Part-Ii, Central Circle-3, New Delhi-110048 New Delhi (Appellant) (Respondent) Pan No. Aefps6298M

251(1)(a) of the Income-tax Act, 1961 (the 'Act') by assessing new sources of income beyond the record (i.e. the return of income and assessment order) and outside the subject matter of assessments appealed against. 2. That without prejudice to the above, the Ld. CIT(A) exceeded the jurisdiction conferred u/s 153A of the Act by enhancing income

RITU SINGAL,NEW DELHI vs. ACIT, CENTRAL CIRCLE- 3, NEW DELHI

Bench: Sh. N. K. Saini, Hon’Ble & Sh. K. N. Charyita No. 1412/Del/2018 : Asstt. Year : 2010-11 Ita No. 1413/Del/2018 : Asstt. Year : 2011-12 Ita No. 1414/Del/2018 : Asstt. Year : 2012-13 Sh. Brij Bhushan Singal, Vs Acit, W-29, Greater Kailash, Part-Ii, Central Circle-3, New Delhi-110048 New Delhi (Appellant) (Respondent) Pan No. Aefps6298M

251(1)(a) of the Income-tax Act, 1961 (the 'Act') by assessing new sources of income beyond the record (i.e. the return of income and assessment order) and outside the subject matter of assessments appealed against. 2. That without prejudice to the above, the Ld. CIT(A) exceeded the jurisdiction conferred u/s 153A of the Act by enhancing income

BRIJ BHUSHAN SINGAL,NEW DELHI vs. ACIT, CENTRAL CIRCLE- 3, NEW DELHI

Bench: Sh. N. K. Saini, Hon’Ble & Sh. K. N. Charyita No. 1412/Del/2018 : Asstt. Year : 2010-11 Ita No. 1413/Del/2018 : Asstt. Year : 2011-12 Ita No. 1414/Del/2018 : Asstt. Year : 2012-13 Sh. Brij Bhushan Singal, Vs Acit, W-29, Greater Kailash, Part-Ii, Central Circle-3, New Delhi-110048 New Delhi (Appellant) (Respondent) Pan No. Aefps6298M

251(1)(a) of the Income-tax Act, 1961 (the 'Act') by assessing new sources of income beyond the record (i.e. the return of income and assessment order) and outside the subject matter of assessments appealed against. 2. That without prejudice to the above, the Ld. CIT(A) exceeded the jurisdiction conferred u/s 153A of the Act by enhancing income

UMA SINGAL,NEW DELHI vs. ACIT, CENTRL CIRCLE-3, NEW DELHI

Bench: Sh. N. K. Saini, Hon’Ble & Sh. K. N. Charyita No. 1412/Del/2018 : Asstt. Year : 2010-11 Ita No. 1413/Del/2018 : Asstt. Year : 2011-12 Ita No. 1414/Del/2018 : Asstt. Year : 2012-13 Sh. Brij Bhushan Singal, Vs Acit, W-29, Greater Kailash, Part-Ii, Central Circle-3, New Delhi-110048 New Delhi (Appellant) (Respondent) Pan No. Aefps6298M

251(1)(a) of the Income-tax Act, 1961 (the 'Act') by assessing new sources of income beyond the record (i.e. the return of income and assessment order) and outside the subject matter of assessments appealed against. 2. That without prejudice to the above, the Ld. CIT(A) exceeded the jurisdiction conferred u/s 153A of the Act by enhancing income

BRIJ BHUSHAN SINGAL,NEW DELHI vs. ACIT, CENTRAL CIRCLE- 3, NEW DELHI

Bench: Sh. N. K. Saini, Hon’Ble & Sh. K. N. Charyita No. 1412/Del/2018 : Asstt. Year : 2010-11 Ita No. 1413/Del/2018 : Asstt. Year : 2011-12 Ita No. 1414/Del/2018 : Asstt. Year : 2012-13 Sh. Brij Bhushan Singal, Vs Acit, W-29, Greater Kailash, Part-Ii, Central Circle-3, New Delhi-110048 New Delhi (Appellant) (Respondent) Pan No. Aefps6298M

251(1)(a) of the Income-tax Act, 1961 (the 'Act') by assessing new sources of income beyond the record (i.e. the return of income and assessment order) and outside the subject matter of assessments appealed against. 2. That without prejudice to the above, the Ld. CIT(A) exceeded the jurisdiction conferred u/s 153A of the Act by enhancing income

RAMESH CHANDER BHASIN,NEW DELHI vs. ITO WARD - 53(5), NEW DELHI

Bench: Shri Bhavnesh Saini & Shri Prashant Maharishi

capital gains which have been accepted by the A.O. Wife of the assessee also sold her share in the property in reference which have been accepted by the Department under section 143(1) of the I.T. Act, 1961 and till date no action under section 147/148 have been taken. He has submitted that in the similar circumstances when claim

SUNITA KHEMKA,NEW DELHI vs. ACIT, CENTRAL CIRCLE- 15, JHANDEWALAN EXTN., NEW DELHI

In the result, Appeal of assessee is allowed

Bench: Shri Bhavnesh Saini

Section 40A(3), it was held that- "In interpreting a taxing statute, the court cannot be oblivious of the proliferation of black money which is under. circulation in our country." 3.7. It may now be relevant to refer to the various facts which emerge from the assessment order-and the submission of the appellant which are as under

RAMOTAR SINGH HUF,REWARI vs. ITO, WARD- 2, REWARI

In the result, the appeal filed by the assesee is allowed

Bench: Shri R.K. Panda & Ms Suchitra Kambleassessment Year: 2012-13 Ramotar Singh, Huf, Vs Ito, Rewari Ward-2, C/O Naresh Singh Chauhan, Advocate, Rewari. 1035-P, Sector-3, Part Ii, Near Ganeshi Lal Dharmshala, Rewari, Haryana. Pan: Aashr5279J (Appellant) (Respondent) Assessee By : Shri Gautam Jain, Advocate. Revenue By : Ms Rakhi Vimal, Sr. Dr Date Of Hearing : 16.07.2020 Date Of Pronouncement : 21.08.2020 Order Per R.K. Panda, Am:

section 147 of the Act, i.e., reasons must indicate why and how the assessee had failed to make full and true disclosure of the material facts. Mere repetition or quoting any of the proviso is not sufficient. 9.3 Referring to various decisions, he submitted that in a case where the primary facts have been truly disclosed and the issue

M/S MARUTI SUZUKI INDIA LTD.,,NEW DELHI vs. DCIT, NEW DELHI

capital gain of Rs.6,90,68,982/- as business income.\n9.3 That the assessing officer erred on facts and in law in holding that\ninvestment in units of mutual funds and shares were made as a systematic\nbusiness activity, without appreciating that such investments were made on\ncapital account and not as “stock-in-trade”.\n9.4 That the assessing officer

M/S. HAVELLS INDIA LTD.,NEW DELHI vs. ACIT, NEW DELHI

The appeal of the assessee is partly allowed for statistical purpose

Bench: Shri Anil Chaturvedi & Ms Suchitra Kamble(Through Video Conferencing) Vs Havells India Ltd. Acit 1, Raj Narian Marg, Ltu Civil Lines New Delhi New Delhi Aaach0351E (Respondent) (Appellant)

251 of the Act. 2.4 That the Commissioner of Income-tax (Appeals) erred on facts and in law in not following the binding decisions of the CIT(A) in the appellant’s own case for the earlier assessment years 2006-07 and 2007-08, in gross violation of principles of judicial discipline. 2.5 Without prejudice, that the assessing officer

M/S. CHANDRA PRAKASH GOEL,NEW DELHI vs. ITO, HAPUR

In the result, the appeal is allowed partly for statistical purpose

Bench: Sh. Amit Shukla & Sh. O.P. Kantassessment Year: 2010-11 Vs. Income Tax Officer, Ward-1, Sh. Chandra Prakash Goel, C/O- M/S. Rra Taxindia, D-28, South Hapur Extension, Part-I, New Delhi Pan : Aatpg4288R (Appellant) (Respondent) Appellant By Dr. Rakesh Gupta & Sh. Somil Agarwal, Advocates Respondent By Sh. Anil Kumar Sharma, Sr.Dr Date Of Hearing 02.03.2017 Date Of Pronouncement 20.03.2017 Order Per O.P. Kant, A.M.: This Appeal By The Assessee Is Directed Against Order Dated 17/02/2014 Of Learned Commissioner Of Income-Tax (Appeals), Ghaziabad For Assessment Year 2010-11, Raising Following Grounds:

251,840 2012-13 604 142 746 1,274,000 25,480 Total 11,304 2,665 13,969 18,102,500 677,620 3.1 The assessee computed capital gain on sale consideration of Rs.66,50,000/- and claimed exemption for the amount deposited in capital gain account. 3.2 According to the Assessing Officer, the entire activity of converting