SUMITOMO CORPORATION,NEW DELHI vs. DCIT (INTERNATIONAL TAXATION), NEW DELHI

Appeal of the assessee is partly allowed for statistical purpose

Bench: Shri R. K. Panda & Ms Suchitra Kamble(Through Video Conferencing) Sumitomo Corporation Vs Dcit (International Taxation) G-195, Circle-3(1)(2) Sarita Vihar New Delhi New Delhi Aabcs6011P (Appellant) (Respondent)

Section 144C of the Income Tax Act thereby proposing to make following variation to the return income of the assessee:- Particulars Amount (in Rs.) as Amount (in Rs.) as per revised return assessed of income A Business Income Income from -1,27,500 1,27,500 6 various projects as per return of income Add: Income from

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

Capital Gain/Short Term Capital Loss or any other sham transactions. " Similarly, the clarification for unlisted shares states: "It is, however, clarified that the above would not be necessarily applied in the situation where: (i) the genuineness of the transaction in unlisted shares itself is questionable; or (ii) the transfer of unlisted shares is related to an issue pertaining to lifting

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

Capital Gain/Short Term Capital Loss or any other sham transactions. " Similarly, the clarification for unlisted shares states: "It is, however, clarified that the above would not be necessarily applied in the situation where: (i) the genuineness of the transaction in unlisted shares itself is questionable; or (ii) the transfer of unlisted shares is related to an issue pertaining to lifting

VANEET AGGARWAL,NEW DELHI vs. ACIT, CIRCLE-14(2), NEW DELHI

In the result, appeal filed by the assessee is allowed

capital gains through shares of M/s CCL\nInternational Ltd. had also admitted that they were also Involved in trading\nof these Jamakharchi Companies through which manipulative transactions\nin securities to either artificially raise or lower the market rate of the shares\nare being done.\n\n10. Abhimanyu Soin Vs ACIT 2018-TIOL-733-ITAT-CHD\n\nwhere Hon'ble ITAT

SAKET KANOI,GURGAON vs. DCIT INTL. TAXATION, GURGAON

In the result, the appeal of the assessee is allowed

Bench: Dr. B. R. R. Kumar, Sh. Yogesh Kumar Us

section 90(1) of IT Act which is reproduced below: "90(1) The Central Government may enter into an agreement with the Government of any country outside India or specified territory outside India,- (a) for the granting of relief in respect of- (i) income on which have been paid both income-tax under this Act and income-tax in that

COMMISSIONER OF INCOME TAX DELHI vs. MS SUMAN DHAMIJA

Bench: HON'BLE DR. JUSTICE S.MURALIDHAR,HON'BLE MR. JUSTICE VIBHU BAKHRU

gains in regard to enhancement of compensation received in respect of land that has been acquired, the following conditions must be fulfilled: (i) There must be a transfer of a capital asset (ii) the compensation or consideration for such transfer has to be enhanced by a court, Tribunal or other authority 42. Two questions that have arisen in the past

COMMISSIONER OF INCOME TAX DELHI vs. MS. SUMAN DHAMIJA

gains in regard to enhancement of compensation received in respect of land that has been acquired, the following conditions must be fulfilled: (i) There must be a transfer of a capital asset (ii) the compensation or consideration for such transfer has to be enhanced by a court, Tribunal or other authority 42. Two questions that have arisen in the past

COMMISSIONER OF INCOME TAX DELHI vs. MS. SUMAN DHAMIJA

Bench: HON'BLE DR. JUSTICE S.MURALIDHAR,HON'BLE MR. JUSTICE VIBHU BAKHRU

gains in regard to enhancement of compensation received in respect of land that has been acquired, the following conditions must be fulfilled: (i) There must be a transfer of a capital asset (ii) the compensation or consideration for such transfer has to be enhanced by a court, Tribunal or other authority 42. Two questions that have arisen in the past

COMMISSIONER OF INCOME TAX DELHI vs. MS SUMAN DHAMIJA

gains in regard to enhancement of compensation received in respect of land that has been acquired, the following conditions must be fulfilled: (i) There must be a transfer of a capital asset (ii) the compensation or consideration for such transfer has to be enhanced by a court, Tribunal or other authority 42. Two questions that have arisen in the past

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

capital gains not under the head income from\nBusiness.\n36. The next issue is whether the CBDT circular be applied prospectively or\nretrospectively, we observed that this issue was already addressed by the Hon’ble\nCalcutta High Court in the case of Century Plyboards I Ltd (supra), wherein it was\nheld that CBDT Circular 6/2016 dated 29/2/2016 would be applicable

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

Bench: Shri Bhavnesh Saini & Shri Prashant Maharishi

Section 132 (4A) on the basis of these two statements. It is a matter of the record - duly noted by the CIT (A) as well as ITAT that the three companies or business concerns whose monies were supposed to have been reflected in the handwritten ledgers (Bondwell Insurance Brokers, E-Synergy Infosystems Pvt. Ltd. and Paradigm Advertising) were all concerns

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

Bench: Shri Bhavnesh Saini & Shri Prashant Maharishi

Section 132 (4A) on the basis of these two statements. It is a matter of the record - duly noted by the CIT (A) as well as ITAT that the three companies or business concerns whose monies were supposed to have been reflected in the handwritten ledgers (Bondwell Insurance Brokers, E-Synergy Infosystems Pvt. Ltd. and Paradigm Advertising) were all concerns

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)

section is only gains accruing as a result of transfer of the asset and nothing more. In the present case, as stated above, there was no “gain” on transfer/redemption of the shares in so far as the shares were redeemed at par value. Thus, there was no gain which accrued to the assessee as a result of redemption of such

SANJAY KAUL,NEW DELHI vs. ITO, WARD-24(4), NEW DELHI

In the result, the appeal of the assessee is dismissed

Bench: Shri H.S. Sidhu & Shri O.P. Kantassessment Year: 2015-16

section 68 is completely perverse and in it logical manner without applying the mind inasmuch as the cash credit was introduced by the assessee and on the contrary, the capital of the assessee has got depleted due to shorten capital loss. According to the assessee, it was a case of “cash debit” instead of “cash credit

SAURABH ARVIND DESAI,AHMEDABAD vs. ACIT, NOIDA

Appeal of the assessee is allowed

Bench: Shri G. D. Agrawal & Ms Suchitra Kamblesaurabh Arvind Desai Vs Acit 11, Rushil Bunglows, B/H Pride Circle-1 Hotel Noida Near Auda Fire Station, Bodakdev Ahmedabad Agmpd2427J (Respondent) (Appellant)

capital gain is a matter of opinion. Thus, the Assessing Officer himself admits that there is a difference of opinion and there is no case for furnishing of inaccurate particulars. As regards additions of Rs.5,376/- & 4 8,276/- & 11,035/-, the Ld. AR submitted that the assessee is a regular tax payer and inadvertently the same was escaped while

ASHOK KUMAR BANSAL,GURGAON vs. PR, CIT CENTRAL DELHI-1, DELHI

Bench: Ms. Madhumita Roy & Shri Naveen Chandra

276 1,20,26,993 Quantity Sold (in 83.17 894.68 276.82 carats) FMV as on 5,923 5,742 5,754 01.04.2001 Cost of 4,92,606 51,37,247 15,92,703 Acquisition for the purpose of computation of capital gains (COA) Indexed Cost of 13,64,979 1,39,73,311 44,59,568 Acquisition (ICOA) Taxable Capital

ASHOK KUMAR BANSAL,GURGAON vs. PR, CIT CENTRAL DELHI-1, DELHI

Bench: Ms. Madhumita Roy & Shri Naveen Chandra

276 1,20,26,993 Quantity Sold (in 83.17 894.68 276.82 carats) FMV as on 5,923 5,742 5,754 01.04.2001 Cost of 4,92,606 51,37,247 15,92,703 Acquisition for the purpose of computation of capital gains (COA) Indexed Cost of 13,64,979 1,39,73,311 44,59,568 Acquisition (ICOA) Taxable Capital

ASHOK KUMAR BANSAL,GURGAON vs. PR, CIT CENTRAL, DELHI-1, DELHI

Bench: Ms. Madhumita Roy & Shri Naveen Chandra

276 1,20,26,993 Quantity Sold (in 83.17 894.68 276.82 carats) FMV as on 5,923 5,742 5,754 01.04.2001 Cost of 4,92,606 51,37,247 15,92,703 Acquisition for the purpose of computation of capital gains (COA) Indexed Cost of 13,64,979 1,39,73,311 44,59,568 Acquisition (ICOA) Taxable Capital