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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

253,00,000 4 Short-term capital gain to be allocated RS. 12,700,000 to individual’s i.e. Dr Prannoy Roy and Mrs Radhika Roy for assessment year 2009 – 10 in equal ratio Therefore the report show that the long-term/short-term capital gain accrued to Mrs. Radhika Roy for FY 2008 – 09 would be modified as under:- serial

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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

253,00,000 4 Short-term capital gain to be allocated RS. 12,700,000 to individual’s i.e. Dr Prannoy Roy and Mrs Radhika Roy for assessment year 2009 – 10 in equal ratio Therefore the report show that the long-term/short-term capital gain accrued to Mrs. Radhika Roy for FY 2008 – 09 would be modified as under:- serial

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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

253,00,000 4 Short-term capital gain to be allocated RS. 12,700,000 to individual’s i.e. Dr Prannoy Roy and Mrs Radhika Roy for assessment year 2009 – 10 in equal ratio Therefore the report show that the long-term/short-term capital gain accrued to Mrs. Radhika Roy for FY 2008 – 09 would be modified as under:- serial

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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

253,00,000 4 Short-term capital gain to be allocated RS. 12,700,000 to individual’s i.e. Dr Prannoy Roy and Mrs Radhika Roy for assessment year 2009 – 10 in equal ratio Therefore the report show that the long-term/short-term capital gain accrued to Mrs. Radhika Roy for FY 2008 – 09 would be modified as under:- serial

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)

253 of the Income- tax Act, 1961 (the Act') against the order dated 23 December 2021 passed by Commissioner of Income (Appeals) - 42, New Delhi [CIT(A)] under 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

SACHIN KANODIA,NEW DELHI vs. ITO WARD - 42(2), NEW DELHI

Appeal are dismissed

Bench: SHRI S. RIFAUR RAHMAN (Accountant Member), SHRI YOGESH KUMAR U.S. (Judicial Member)

section 142 and 143 clearly suggests that the assessing officer may also act on the material gathered by him. The word 'material' clearly shows that the assessing officer is not fettered by the technical rules of evidence and the like, and that he may act on material which may not strictly speaking be accepted evidence in a court

EMERGING INDIA FOCUS FUNDS,MAURITIUS vs. ACIT, CIRCLE INT. TAXATION 1(2)(2), DELHI

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

gains of Rs.593,48,24,274/-, capital\ngains aggregating to Rs.310,80,53,009/- were arising on account of sale of\nmutual funds acquired prior to 01/04/2017 and thus, the same was not\nliable to be taxed as per Article 13(3A) of the India Mauritius DTAA. In\nthis regards, the Panel considers it appropriate to direct

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

253 of the Income\ntax Act, 1961 (the Act') against the order dated 23 December 2021 passed by\nCommissioner of Income (Appeals) - 42, New Delhi [CIT(A)] under section\n250 of the Act, on the following grounds:\nOn the facts, in law and in circumstances of the case, the learned CIT(A):\nGeneral\n1. erred in holding that the capital

DCIT, NEW DELHI vs. SH. ARJUN PURI, NEW DELHI

In the result, ITA.No.2310/Del

Bench: Shri Bhavnesh Saini & Shri L.P. Sahu

section 54F of the I.T. Act. The assessee challenged the assessment order before Ld. CIT(A). The Ld. CIT(A) reproduced the written submissions of the assessee in the appellate order which is as under: (i) “One of the earliestenunciation on the subject finds place in the case of Californian Copper Syndicate Vs Harris

DCIT, NEW DELHI vs. SH. MOHINDER PURI, NEW DELHI

In the result, ITA.No.2310/Del

Bench: Shri Bhavnesh Saini & Shri L.P. Sahu

section 54F of the I.T. Act. The assessee challenged the assessment order before Ld. CIT(A). The Ld. CIT(A) reproduced the written submissions of the assessee in the appellate order which is as under: (i) “One of the earliestenunciation on the subject finds place in the case of Californian Copper Syndicate Vs Harris

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. SH. MAHESH KUMAR, NEW DELHI

In the result, the appeal of the department is dismissed

Bench: Sh. N. K. Saini, Am & Smt. Beena Pillai, Jm Ita No. 173/Del/2012 : Asstt. Year : 2008-09 Dcit, Vs Sh. Mahesh Kumar, Circle-21(1), C-13/170, Sector-3, Rohini, New Delhi Delhi-110085 (Appellant) (Respondent) Pan No. Aalpk4117B Assessee By : Sh. Ved Jain, Adv. Revenue By : Sh. P. Dum Kanunjna, Cit Dr Date Of Hearing : 16.09.2016 Date Of Pronouncement : 13.12.2016 Order Per N. K. Saini, Am: This Is An Appeal By The Department Against The Order Dated 17.10.2011 Of Ld. Cit(A)-Xxii, New Delhi.

section 111A of the Act. The appellant has claimed that he has held the said shares as investment. The appellant has claimed that whether a particular holding of shares is by way of investment or forms part of stock-in-trade is a matter which is within the knowledge of the person who holds the same. The appellant has claimed

ACIT, CIRCLE- 26(2), DELHI vs. VIC ENTERPRISES PVT. LTD., NEW DELHI

In the result, appeal of the Revenue is dismissed

Bench: N.K. Billaiya & Ms. Astha Chandraasstt. Year: 2014-15

section 143(3) of the Act. 5. Aggrieved thereby, the assessee filed appeal before the Ld. CIT(A). During appellate proceedings also, the assessee filed written submission which has been incorporated by the Ld. CIT(A) in para 5.1 of his order. On consideration thereof, the Ld. CIT(A) held that the impugned income shown

ITO, WARD-5(4) vs. MODERN HOME CARE PRODUCTS LTD.,,

In the result, appeal of the revenue is dismissed

Bench: Shri Amit Shukla & Shri Prashant Maharishiito, Vs. M/S. Modern Home Care Ward-5(4), Products Ltd, New Delhi 4, Community Centre, New Friends Colony, New Delhi (Appellant) (Respondent)

section 253 (4) of the act, therefore , assessee cannot agitate the taxability of non compete fees for the 1st time before the tribunal as in no part of the order of Commissioner of appeals has considered and decided the issue of taxability of non compete fees. 28. Accordingly, the cross objection filed by the assessee is dismissed

MANISHA JUNEJA SAWHNEY,NEW DELHI vs. CIT,INTERNATIONAL TAXATION-3, NEW DELHI

Accordingly, appeal of assessee is allowed

Bench: Shri H. S. Sidhu & Shri Prashant Maharishimanisha Juneja Sawhney, Vs. The Cit, W-31, Greater Kailash-I, New Delhi International Taxation-3, Pan: Bjgps5452N New Delhi (Appellant) (Respondent)

capital gain and there are many other issues, which were pointed out by learned CIT, which has come to his notice on examination of records. She therefore stated that order of learned assessing officer has been proved erroneous and prejudicial to interest of revenue on so many counts. It was further stated by her that issues on which learned principal

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 liability. 19. Key judicial precedents settling the said view are as under:  Ramcharan Das v. Girijanandini Devi: AIR 1966 SC 323 (SC) [Pg.43-53@52/ CLPB] 29  Kale v. Deputy Director of Consolidation: 3 SCC 119 (SC) [Pg.54-77@60-63/ CLPB]  Ziauddin Ahmed v. CGT: 102 ITR 253 (Gauhati) 20. It is reiterated that legal position has been explained

ZILE SINGH,FARIDABAD vs. PR. CIT, FARIDABAD

Appeal of the assessee is dismissed

Bench: Shri Prashant Maharishi & Shri K.N.Charyzile Singh, Vs. Pr. Cit, H. No. 263, Sector-8, Faridabad Faridabad, Haryana Pan: Ajeps1883J (Appellant) (Respondent)

253/- became Rs. 11,74,41,790/- as per the various items which increase the capital. Assessee has earned a long-term capital gain from sale of shares of a private limited company of Rs. 87.48 lakhs and another private limited company of Rs. 39.60 lakhs. He has also earned short-term capital gain on sale of shares of private