TELETUBE ELECTRONICS LTD

The appeal of the Assessee is allowed

capital gain in accordance with law. The AO was also directed to re-adjudicate the consequential issues like depreciation, investment allowance, terminal allowance, etc. in accordance with law. ITAT's order on the Assessee's application under Section 254

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

capital Gain earned by the assessee on sale of scrip of M/s HPC Biosciences Ltd during FY2014-15 is genuine and eligible for benefit of section 10(38) of IT Act, 1961? 2. The company M/s HPC Biosciences Ltd, its promoter directors and other entities were investigated by SEBI for market manipulation and fraudulent trading in violation of Prevention

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

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

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

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

ACIT, CIRCLE-24(1), NEW DELHI vs. SPRING INFRADEV LTD., NEW DELHI

Bench: Shri Yogesh Kumar Us & Shri Brajesh Kumar Singh[Assessment Year:2016-17]

254 of the Act allows the Tribunal to entertain a fresh claim raised for the first time before the Tribunal and the power of the Tribunal is not curtailed in the manner as contested by the AO. As discussed above, all the facts relating to the claims made by the assessee that the capital gains of Rs.12

MODI RUBBER LTD.,NEW DELHI vs. ACIT, CIRCLE- 17(1), NEW DELHI

In the result, Ground no.2 is partly allowed

Bench: Shri Saktijit Dey- & Shri Pradip Kumar Kedia-

254,81,69,490/- (-) ₹ 1,91,91,928/-] from the full value of consideration received or accrued as a result of transfer of shares for the purposes of arriving at chargeable capital gain under Section

ASSISTANT COMMISSIONER OF INCOME TAX, DELHI vs. VIREET INVESTMENTS PRIVATE LIMITED, DELHI

In the result, the appeal of Revenue is partly allowed as boave for statistical purpose

Bench: Shri Yogesh Kumar U.S. & Shri Avdhesh Kumar Mishra

section 10(38) of the Income Tax Act, 1961 and contention of the appellant is found tenable. 5.4.7 The appellant has furnished following statement in the tabular form showing the details of Long term capital gain of Rs.8,90,66,254

ADDI CHARITABLE TRUST,NEW DELHI vs. CIT EXEMPTION, DELHI

In the result, the appeal of Revenue is partly allowed as boave for statistical purpose

Bench: Shri Yogesh Kumar U.S. & Shri Avdhesh Kumar Mishra

section 10(38) of the Income Tax Act, 1961 and contention of the appellant is found tenable. 5.4.7 The appellant has furnished following statement in the tabular form showing the details of Long term capital gain of Rs.8,90,66,254

SNEH GUPTA,NEW DELHI vs. ACIT, CIRCLE-32(1), DELHI, DELHI

In the result, the appeal filed by the assessee is allowed on both counts on merit as well as jurisdictional issue raised by the assessee in the additional ground of appeal

Bench: SHRI SATBEER SINGH GODARA (Judicial Member), SHRI S. RIFAUR RAHMAN (Accountant Member)

section 54F of the Act. Further, Ld. CIT(A) confirmed the addition in impugned order dated 09.08.2024. Hence the present appeal. The case of the assessee is that she sold shares on 20.12.2012 and deposited capital gain in bank account under capital gain scheme and further she started construction of a residential property. For this purpose, she purchased a residential

VINAY CHAUDHARY,PITAMPURA vs. ACIT INT TAX 1(2)(1), DELHI

In the result, the appeal of the assesse is allowed

Bench: “Shri Ramit Kochar & Shri Raj Kumar Chauhan

section 69A of the Act was not attracted as the investment in shares and subsequent sale of share are duly 6 Vinay Chaudhary explained; the AO erred in questioning the genuineness of purchase of shares done in A.Y. 2010-11 as it was never disputed during that assessment year and therefore, being statutory time barred in A.Y. 2021- 22; that

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)

254 ITR 608 observed that the said sub-section 13 only requires that for computing allowable deduction losses of one division be ignored. In that case, the assessee claimed deductions under Section 80HH and Section 80-I of the Act in respect of two divisions. The assessee earned profits from the chemical division and losses in the oil division during

ACIT (LTU), NEW DELHI vs. MAX NEW YORK LIFE INSURANCE COMPANY LTD., NEW DELHI

In the result, the appeal is allowed for statistical purposes

Bench: Shri R.S. Syal & Shri Sudhanshu Srivastavaassessment Year : 2002-03

254 250 VP 302 312.5 SVP 364 375 5. In the light of the above, it was claimed that its international transaction was at arm’s length. The TPO did not accept the application of CUP as the most appropriate method as the consulting firms whose rates were cited in the TP study report were only quotations

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

capital gain on sale of Punjab Khor land claimed it exempt u/s 54B of the Income Tax Act. 4.1 That the ld. CIT (A) has wrongly invoked the powers u/s 251 of the Act to enhance the assessment without appreciating the fact that the said section cannot be pressed to substitute the view/decision of the assessing officer. 4.2 That

ACIT, JAMMU vs. SH M.K. AJAT SHATRU, JAMMU

In the result, all the fours appeals filed by the Revenue are dismissed and the three Cross Objections as well as the ground as per Rule 27 are allowed

Bench: Shri R.K. Panda & Shri Sudhanshu Srivastava

Capital Gain. Thereafter, assessments of the remaining three shareholders were framed when the AO had proceeded to determine the fair market value of said shares on the basis of the breakup method i.e. by adopting the fair market value of the hotel building (as per the report of the approved valuer) to be divided by the number of shares held