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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

30,394/- representing alleged short term capital gain on sale of Rs. 6,25,000 shares of M/s. NDTV Ltd by the appellant in the year under consideration 2.1 That while upholding the addition the learned Commissioner of Income Tax (Appeals) has failed to appreciate the scope and ambit of provisions contained in section

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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

30,394/- representing alleged short term capital gain on sale of Rs. 6,25,000 shares of M/s. NDTV Ltd by the appellant in the year under consideration 2.1 That while upholding the addition the learned Commissioner of Income Tax (Appeals) has failed to appreciate the scope and ambit of provisions contained in section

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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

30,394/- representing alleged short term capital gain on sale of Rs. 6,25,000 shares of M/s. NDTV Ltd by the appellant in the year under consideration 2.1 That while upholding the addition the learned Commissioner of Income Tax (Appeals) has failed to appreciate the scope and ambit of provisions contained in section

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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

30,394/- representing alleged short term capital gain on sale of Rs. 6,25,000 shares of M/s. NDTV Ltd by the appellant in the year under consideration 2.1 That while upholding the addition the learned Commissioner of Income Tax (Appeals) has failed to appreciate the scope and ambit of provisions contained in section

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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

30,394/- representing alleged short term capital gain on sale of Rs. 6,25,000 shares of M/s. NDTV Ltd by the appellant in the year under consideration 2.1 That while upholding the addition the learned Commissioner of Income Tax (Appeals) has failed to appreciate the scope and ambit of provisions contained in section

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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

30,394/- representing alleged short term capital gain on sale of Rs. 6,25,000 shares of M/s. NDTV Ltd by the appellant in the year under consideration 2.1 That while upholding the addition the learned Commissioner of Income Tax (Appeals) has failed to appreciate the scope and ambit of provisions contained in section

DCIT, NEW DELHI vs. M/S. PURAN ASSOCIATES PVT. LTD., NEW DELHI

In the result, the appeal of the Revenue is partly allowed for statistical purposes

Bench: Shri Amit Shukla & Shri O.P. Kant

30 days Quantity of 1,33,65,009* 53,003 1,01,571 43,971 78,813 67,802 Shares Percentage to 97.48% 03.8% 0.74% 0.32% 0.57% 0.49% Total quantity Gain or loss 1,19,85,50,369 86,05,051 20,57,841 21,45,605 22,70,962 19,21,580 21 I.T.A. No.3078/Del/2011, 820/Del/2013 & 5054/Del/2015 Percentage

ACIT, NEW DELHI vs. M/S PURAN ASSOCIATES PVT. LTD., NEW DELHI

In the result, the appeal of the Revenue is partly allowed for statistical purposes

Bench: Shri Amit Shukla & Shri O.P. Kant

30 days Quantity of 1,33,65,009* 53,003 1,01,571 43,971 78,813 67,802 Shares Percentage to 97.48% 03.8% 0.74% 0.32% 0.57% 0.49% Total quantity Gain or loss 1,19,85,50,369 86,05,051 20,57,841 21,45,605 22,70,962 19,21,580 21 I.T.A. No.3078/Del/2011, 820/Del/2013 & 5054/Del/2015 Percentage

ACIT, NEW DELHI vs. M/S. PURAN ASSOCIATES PVT. LTD., NEW DELHI

In the result, the appeal of the Revenue is partly allowed for statistical purposes

Bench: Shri Amit Shukla & Shri O.P. Kant

30 days Quantity of 1,33,65,009* 53,003 1,01,571 43,971 78,813 67,802 Shares Percentage to 97.48% 03.8% 0.74% 0.32% 0.57% 0.49% Total quantity Gain or loss 1,19,85,50,369 86,05,051 20,57,841 21,45,605 22,70,962 19,21,580 21 I.T.A. No.3078/Del/2011, 820/Del/2013 & 5054/Del/2015 Percentage

NEELU ANALJIT SINGH,NEW DELHI vs. ADDL.CIT, SPECIAL RANGE-9, NEW DELHI

In the result, appeal filed by the assessee is partly allowed with above directions

Bench: Shri H. S. Sidhu & Shri Prashant Maharishimrs. Neelu Analjit Singh, Vs. The Addl. Commissioner Of 15, Dr. Apj Abdul Kalam Road, Income Tax , New Delhi Special Range-9, Pan: Aatps06882D New Delhi (Appellant) (Respondent)

section 56 is not applicable to items covered in part A to E in chapter 4 of the Act and as such excludes income in the nature of „capital gains‟ covered in part E of Chapter 4. Mrs. Neelu Analjit Singh, Vs The Additional CIT , New Delhi 19. That, without prejudice, the CIT(A) also failed to appreciate/failed to consider

SAT SAHIB SECURITIES PVT. LTD.,DELHI vs. DCIT, CIRCLE-7(1), NEW DELHI

In the result the appeal of the assessee is allowed

Bench: Sh. S. Rifaur Rahman & Sh. Sudhir Kumarassessment Year: 2006-07 M/S. Sat Sahib Securities Pvt. Vs Dcit Ltd. Pvt. Ltd., B-129, Anand Circle – 7 (1) Vihar, New Delhi-110092 New Delhi Pan No.Aabcs2456G (Appellant) (Respondent)

Capital Gains for the A.Y. 2004-05 and 2007-08 and order passed u/s. 143 (30 A.Y. and 2005-06 order passed u/s. 143 (1) and A.Y. 2008-09 by the order passed by CIT- Appeals. 4. Those provisions of section

SUPERB MIND HOLDING LTD. ,NEW DELHI vs. ACIT CIRCLE INT TAX 3(1)(2), NEW DELHI

In the result, appeal of the assessee is allowed

Bench: Shri G.S. Pannu, Hon’Ble & Shri Challa Nagendra Prasadआ.अ.सं/.I.T.A No.1568/Del/2022 िनधा"रणवष"/Assessment Year: 2018-19

30-3-1994” 37. It is clear from the aforesaid that capital gains derived by a resident of Mauritius by alienation of shares of companies shall be taxable in Mauritius only and will not have any capital gains tax liability in India. 38. Further, reliance was placed upon another Circular No.789 dated 13th April 2000 issued by the CBDT which

MILAN SAINI,GURGAON vs. DCIT, CIRCLE- 2 , GURGAON

In the result, the appeal of the assessee is allowed

Bench: Shri M Balaganesh & Shri Vimal Kumarassessment Year: 2014-15 Milan Saini, Vs. Dcit, 37, Centrum Plaza, Dlf Golf Circle-2. Course Road, Sector 53, Gurgaon Gurgaon (Haryana) Pan: Braps1366P (Appellant) (Respondent)

30,580/- on 31.07.2014. The return was processed under Section 143(1). The case was picked up for scrutiny through CASS. Notice under Section 143(2) was duly served upon the assessee by the assessee on 28.08.2015. After the change of jurisdiction the case was transferred to DCIT, Circle-2, Gurgaon. Notice under Section 142(1) along with questionnaire

MR. SUNIL GOYAL,NOIDA vs. ITO, NEW DELHI

Appeal is disposed of in accordance with the aforesaid directions

Bench: Shri Amit Shukla & Shri Anadee Nath Misshra

30% on assumed business income as against long term capital gain rightly shown by the assessee and tax paid @ 20% thereon.” (B) Assessment Order under Section

INCOME TAX OFFICER, WARD-11(1), DELHI vs. HKT CORPORATION PVT LTD, DELHI

The appeal are dismissed

Bench: Shri Satbeer Singh Godara & Shri S. Rifaur Rahman

Section 45 is that the property transferred must be a capital asset on the date of transfer and that it is not necessary that it should have been capital asset also on the date of its acquisition by the assessee. Thus this decision directly answers the question raised and concluded. This has been followed in a subsequent decision reported

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

M/S. GURU KRIPA AGRO FOODS,HARYANA vs. ITO, KARNAL

In the result, the appeal of the assessee stands partly

Bench: Shri S.V. Mehrotra & Shri Chandra Mohan Garg

section 45(4) of the Act when there is dissolution, reconstitution and continuity in business as a going concern, was not clear. It was only in the course of Assessment Proceedings u/s 143)(3) of the Act before the A.O for the AY 2009-10, an extensive study of the Capital Gain provisions was undertaken which suggested that Capital Gains

KAPIL KUMAR AGARWAL,GURGAON vs. DCIT, GURGAON

Appeal of the assessee is allowed

Bench: Shri Amit Shukla & Shri Prashant Maharishikapil Kumar Agarwal, Vs. Dcit, C/O. Ipsaa House Anm & Circle-1(1), Associates, J021A, Mayfiled Gurgaoon Gardens, Sector-51, Gurgaon Pan: Aacpa2412L (Appellant) (Respondent)

capital gain and they have also constructed residential houses. In order to establish the same, the assessees submitted before the Commissioner of Income-tax(Appeals) several material evidence, viz., invitation card printed for the house-warming ceremony to be held on July 12, 2003. The assessees have also produced the completion certificates from the municipal authority on January 30