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

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

THE PR. COMMISSIONER OF INCOME TAX-4 vs. GE MONEY FINANCIAL SERVICES PVT. LTD.

Bench: HON'BLE DR. JUSTICE S.MURALIDHAR,HON'BLE MR. JUSTICE NAJMI WAZIRI

Capital Hill Main Road Ranchi Sir, Sub: application for lease of area of 500 acres by m/s. Arcellormitallindian limited mining lease of iron and, manganese ore in West Singhbhum, Meghaburum Karampada RF) Ref: letter no. 737 dated 9.06.2009 of director, mining, Jharkhand In reference to the above letter no. 737 dated 9.06.2009 of the Director Mining Jharkhand it is informed

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

MR. RANJEET SINGH,GURGAON vs. DCIT, NEW DELHI

Bench: Shri G.S. Pannu & Shri Amit Shukla(Through Video Conferencing) Assessment Year 2005-06

gain. In the appeal proceedings addition was deleted considering appellants arguments that there was no provision in the Income Tax Act to substitute sale consideration with fair market value of a capital asset other than immovable property referred to in section 50C. However it was observed by the Ld. CIT(A) that the real value of shares of Eltek

MR. SANJIV NARAYAN,NEW DELHI vs. DCIT, NEW DELHI

Bench: Shri G.S. Pannu & Shri Amit Shukla(Through Video Conferencing) Assessment Year 2005-06

gain. In the appeal proceedings addition was deleted considering appellants arguments that there was no provision in the Income Tax Act to substitute sale consideration with fair market value of a capital asset other than immovable property referred to in section 50C. However it was observed by the Ld. CIT(A) that the real value of shares of Eltek

MR. J.S. GUJRAL,GURGAON vs. DCIT, NEW DELHI

Bench: Shri G.S. Pannu & Shri Amit Shukla(Through Video Conferencing) Assessment Year 2005-06

gain. In the appeal proceedings addition was deleted considering appellants arguments that there was no provision in the Income Tax Act to substitute sale consideration with fair market value of a capital asset other than immovable property referred to in section 50C. However it was observed by the Ld. CIT(A) that the real value of shares of Eltek

MR. KRISHNA KUMAR PANT,NEW DELHI vs. DCIT, NEW DELHI

Bench: Shri G.S. Pannu & Shri Amit Shukla(Through Video Conferencing) Assessment Year 2005-06

gain. In the appeal proceedings addition was deleted considering appellants arguments that there was no provision in the Income Tax Act to substitute sale consideration with fair market value of a capital asset other than immovable property referred to in section 50C. However it was observed by the Ld. CIT(A) that the real value of shares of Eltek

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

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

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

253 of the Income-tax\nAct, 1961 (‘the Act') against the final order dated 23 January 2025 passed\nby the Assistant Commissioner of Income Tax, Circle 1 (2)(2), Delhi ('Ld.\nAO') under section 143(3) of the Income-tax Act, 1961 (‘the Act') as per\nthe directions issued by the Dispute Resolution Panel (‘DRP') under\nsection 144C

CAIRN UK HOLDING LTD.,AHMEDABAD vs. DCIT (INTERNATIONAL TAXATION), NEW DELHI

In the result ground No. 5 of the appeal of the assessee is allowed

Bench: Shri H. S. Sidhu & Shri Prashant Maharishi

capital gain chargeable to tax in the hands of appellant taxable at the rate of 40%. Subject to chargeability of surcharge and cess as applicable. Further, Cairn U K Holdings Limited V DCIT ( International Taxation) New Delhi A Y 2007-08 P a g e | 47 with respect to chargeability of interest under section 234B of the Income

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)

2) only consideration received against the transfer of goodwill, tenancy right et cetera are chargeable to tax whose cst of acquisition is Nil. However, trademarks, know-how etc have not been included in that section, therefore if they do not have any cost of acquisition, the provisions of charging capital gain on sale of thee assets fails. Thus, according

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

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