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

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

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

COMMISSIONER OF INCOME TAX

capital gain has been declared or not by Mani Kakkar and it was only for this purpose that notice was being issued under Section 158BD. The contention was that the satisfaction note did not record that the Assessing Officer assessing Kedarnath Gupta was satisfied, even prima facie, that the undisclosed income thrown up during the search belonged to the assessee

HERO MOTOCORP LTD (AS SUCCESSOR OF HERO INVESTMENT P.LTD),NEW DELHI vs. DCIT, CIRCLE 11(1), NEW DELHI

The appeal is allowed

Bench: Shri G.S. Pannu & Shri Anubhav Sharmaassessment Year: 2011-12

section 28 of the Act. In this context he submitted that the 49 nature of income arising from shares depends upon the nature of asset, viz., whether the shares were held as "capital asset" or as "stock-in-trade". The nature of asset, whether 'stock in trade' or 'capital asset depends upon the intention with which investment is made

SANJAY SAWHNEY vs. PRINCIPAL COMMISSIONER OF INCOME TAX

The appeal is allowed in the above terms

capital gains etc. The assessee [Respondent before ITAT], admittedly did not file a cross appeal or cross objections under section 253

SARIKA BINDAL,NEW DELHI vs. ITO WARD - 5(4), NEW DELHI

In the result, appeal of assessee is allowed

Bench: Shri Challa Nagendra Prasad & Shri Pradip Kumar Kediasarika Bindal Vs. Ito 20/60, West Punjabi Bagh Ward – 5(4) New Delhi – 110 006 New Delhi Pan No. Aagpb 3973 P (Appellant) (Respondent)

Capital Gains claimed as exempt under section 10(38) of the Act is fully supportable by the documentary evidences placed before the lower authorities and the Revenue authorities have blindly relied upon the investigation report which primarily narrates general modus operandi. The learned Counsel pointed out that CCL International ltd. is a genuine company which is engaged in large scale

DHARAMENDRA BHANDARI (HUF),GURGAON vs. ASSISTANT COMMISSIONER OF INCOME TAX, DELHI

In the result, the appeal of the assessee is allowed

Bench: Shri M. Balaganesh & Ms Madhumita Roydharamendra Bhandari (Huf), Vs. Cit(A), A-126, Sushant Lok-1, National Faceless Appeal Gurgaon, Haryana Centre, Delhi (Appellant) (Respondent) Pan:Aadhd2238J Assessee By : Shri R. S. Ahuja, Ca Shri Pushpdeep Singh, Adv Revenue By: Shri T James Singson, Cit Dr Date Of Hearing 02/08/2024 Date Of Pronouncement 28/10/2024

Capital Gains. However, the ld. AO, based on the information received by him from Calcutta Stock Exchange found that the transactions were not recorded there. He therefore held that the transactions were bogus. The Hon’ble High Court, affirmed the decision of the Tribunal wherein it was found that the chain of transactions entered into by the assessee have been

RADIALS INTERNATIONAL vs. ASSTT. COMMISSIONER OF INCOME TAX

Bench: The Court Is: “Whether, The Shares Invested Through A Portfolio Management 2014:Dhc:2173-Db

section 111A on short term capital gains were both denied. 7. Counsel for the Appellant argued that the transactions must be considered by themselves, while applying the tests to determine whether they are investments or adventure in the nature of trade. It is urged that the PMS agreement, by its terms alone or by the fact of agency being handed

DIRECTOR OF INCOME TAX vs. INFRASOFT LTD

capital gains in the other country. 2013:DHC:6018 ======================================================================= ITA 1034/2009 Page 71 of 174 48. The Supreme Court further referred to the commentary of Klaus Vogel that Double Taxation Convention establishes an independent mechanism to avoid double taxation through restriction of tax claims in areas where overlapping tax claims are expected, or at least theoretically possible. In other words

ACIT, CIRCLE- 30(1), NEW DELHI vs. UMESH KUMAR ARORA, NEW DELHI

In the result, the appeal of the Revenue is dismissed

Bench: Shri Shamim Yahya & Ms. Astha Chandraassessment Year: 2014-15 Vs. Acit, M/S. Umesh Kumar Arora, Circle-30(1), C-15, Greater Kailash Enclave-1, New Delhi Delhi-1100 48 Pan Aaapa4832A Pan :Aaapa4832A (Appellant) (Respondent)

capital gain. Since you have claimed an LTCG of Rs.53,83,045/-, an amount of Rs.1,61,491/- i.e. 3% of Rs.53,83,045/- is being added u/s. 69C as unexplained expenditure. Further, purchase value of Rs.1,50,000/- is added back to your income as unexplained expenditure u/s. 69C. From the above portion of the impugned order

GYAN PRAKASH GUPTA,NEW DELHI vs. ITO WARD-10(4), NEW DELHI

In the result, the Assessee’s appeal is dismissed

Bench: Shri Shamim Yahya & Shri Yogesh Kumar Usa.Yr. : 2015-16 Gyan Prakash Gupta, Vs. Ito, Ward 10(4), B-189, Yojna Vihar, New Delhi – 2 New Delhi – 92 (Pan: Adupg2697N) (Appellant) (Respondent)

Section 68 suggests that there has to be credit of amounts in the books maintained by an assessee; such credit has to be of a sum during the previous year; and the assessee offers no explanation about the nature and source of such credit found in the books; or the explanation offered by the assessee in the opinion

NAZ SHAZIA,MORADABAD vs. ITO WARD 1(1), MORADABAD

In the result, the appeal of the assessee is allowed

Bench: Shri M. Balaganeshnaz Shazia, Vs. Ito, Anwar House, Ground Ward-1(1), Floor, Pandit Nagla Mini Moradabad Bye Pass Road, Moradabad Pan: Bbwps217R Assessee By : Shri V. K. Tulsian, Ca Revenue By: Shri Om Parkash, Sr. Dr Date Of Hearing 15/01/2024 Date Of Pronouncement 18/01/2024

Capital Gains. However, the ld. AO, based on the information received by him from Calcutta Stock Exchange found that the transactions were not recorded there. He therefore held that the transactions were bogus. The Hon‟ble High Court, affirmed the decision of the Tribunal wherein it was found that the chain of transactions entered into by the assessee have been

SHANTI BANERJEE (deceased) by LRs vs. DY. COMMISSIONER OF INCOME TAX

The appeal is allowed but in the circumstances with

Section 54 F (3) of the Act. It is not in dispute that she paid the long term capital gains tax computed on the above basis. 7. The return was picked up for scrutiny and on 18th March, 1996 the 2015:DHC:9363-DB ITA No. 299/2003 Page 3 of 5 Assessing Officer (AO) passed an assessment order in which

SATISH KUMAR DHINGRA ,HARYANA vs. ACIT CIRCLE-4(1), GURGAON

The appeals are dismissed

Bench: Shri Shamim Yahya & Shri Anubhav Sharmasubhash Chand Dhingra, Vs. Acit, House No. 1/43, Shivaji Nagar, Central Circle-3(1), Gurgaon Gurgaon (Appellant) (Respondent) Pan: Aarpd8652J Satish Kumar Dhingra, Vs. Acit, House No. 1/43, Shivaji Nagar, Circle-4(1), Gurgaon Gurgaon (Appellant) (Respondent) Pan: Aanpd1971A Ashok Kumar Dhingra, Vs. Acit, House No. 1/43, Shivaji Nagar, Circle-1(1), Gurgaon Gurgaon (Appellant) (Respondent) Pan: Abupd6730B Giriraj Dhingra, Vs. Acit, House No. 1/43, Shivaji Nagar, Circle-1(1), Gurgaon Gurgaon (Appellant) (Respondent) Pan: Achpd9434E

capital gains' arising from the transfer of agricultural land. It is, therefore, clear that once the Hon‟ble Supreme Court directed the Assessing Officer in the case of UOI vs. Hari Singh: 254 Taxman 126 (SC) that after examining the facts to apply the provisions contained in the Act with a specific reference to the agricultural land stating that

ASHOK KUMAR DHINGRA ,GURGAON vs. ACIT CIRCLE-1(1), GURGAON

The appeals are dismissed

Bench: Shri Shamim Yahya & Shri Anubhav Sharmasubhash Chand Dhingra, Vs. Acit, House No. 1/43, Shivaji Nagar, Central Circle-3(1), Gurgaon Gurgaon (Appellant) (Respondent) Pan: Aarpd8652J Satish Kumar Dhingra, Vs. Acit, House No. 1/43, Shivaji Nagar, Circle-4(1), Gurgaon Gurgaon (Appellant) (Respondent) Pan: Aanpd1971A Ashok Kumar Dhingra, Vs. Acit, House No. 1/43, Shivaji Nagar, Circle-1(1), Gurgaon Gurgaon (Appellant) (Respondent) Pan: Abupd6730B Giriraj Dhingra, Vs. Acit, House No. 1/43, Shivaji Nagar, Circle-1(1), Gurgaon Gurgaon (Appellant) (Respondent) Pan: Achpd9434E

capital gains' arising from the transfer of agricultural land. It is, therefore, clear that once the Hon‟ble Supreme Court directed the Assessing Officer in the case of UOI vs. Hari Singh: 254 Taxman 126 (SC) that after examining the facts to apply the provisions contained in the Act with a specific reference to the agricultural land stating that