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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

31,08,438 93,60,086 market 09/03/10 Purchased Off 34,78,925 1,39,15,700 4.00 1,28,39,011 from RRPR Market 09/03/10 Sold to RRPR Off 23,14,762 7,577 140.00 32,40,66,680 32,40,59,103 1,05,24,249 market Jointly held by Dr. Pronnoy Roy & Dr. Radhika Roy Date Particulars

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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

31,08,438 93,60,086 market 09/03/10 Purchased Off 34,78,925 1,39,15,700 4.00 1,28,39,011 from RRPR Market 09/03/10 Sold to RRPR Off 23,14,762 7,577 140.00 32,40,66,680 32,40,59,103 1,05,24,249 market Jointly held by Dr. Pronnoy Roy & Dr. Radhika Roy Date Particulars

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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

31,08,438 93,60,086 market 09/03/10 Purchased Off 34,78,925 1,39,15,700 4.00 1,28,39,011 from RRPR Market 09/03/10 Sold to RRPR Off 23,14,762 7,577 140.00 32,40,66,680 32,40,59,103 1,05,24,249 market Jointly held by Dr. Pronnoy Roy & Dr. Radhika Roy Date Particulars

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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

31,08,438 93,60,086 market 09/03/10 Purchased Off 34,78,925 1,39,15,700 4.00 1,28,39,011 from RRPR Market 09/03/10 Sold to RRPR Off 23,14,762 7,577 140.00 32,40,66,680 32,40,59,103 1,05,24,249 market Jointly held by Dr. Pronnoy Roy & Dr. Radhika Roy Date Particulars

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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

31,08,438 93,60,086 market 09/03/10 Purchased Off 34,78,925 1,39,15,700 4.00 1,28,39,011 from RRPR Market 09/03/10 Sold to RRPR Off 23,14,762 7,577 140.00 32,40,66,680 32,40,59,103 1,05,24,249 market Jointly held by Dr. Pronnoy Roy & Dr. Radhika Roy Date Particulars

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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

31,08,438 93,60,086 market 09/03/10 Purchased Off 34,78,925 1,39,15,700 4.00 1,28,39,011 from RRPR Market 09/03/10 Sold to RRPR Off 23,14,762 7,577 140.00 32,40,66,680 32,40,59,103 1,05,24,249 market Jointly held by Dr. Pronnoy Roy & Dr. Radhika Roy Date Particulars

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

1,21,87,78,509 17. Now, it has been well settled that if the shares which has been acquired and treated as investment from day one and held for more than a year, then sale of such shares has to be taxed under the head ‘Long Term Capital Gain’. This has been clarified by the CBDT in its following

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

1,21,87,78,509 17. Now, it has been well settled that if the shares which has been acquired and treated as investment from day one and held for more than a year, then sale of such shares has to be taxed under the head ‘Long Term Capital Gain’. This has been clarified by the CBDT in its following

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

1,21,87,78,509 17. Now, it has been well settled that if the shares which has been acquired and treated as investment from day one and held for more than a year, then sale of such shares has to be taxed under the head ‘Long Term Capital Gain’. This has been clarified by the CBDT in its following

ACIT, NEW DELHI vs. SH. VALMIK THAPAR, NEW DELHI

Appeals are disposed of by this common order as indicated above

Bench: Hon’Ble Justice P.P. Bhatt & Shri Prashant Maharishi(Through Video Conferencing) Shri Valmik Thapar, Vs. Acit, 19, Kautilya Marg, Circle-53(1), New Delhi New Delhi (Appellant) (Respondent) Shri Valmik Thapar, Vs. Dcit, M/S. R. N. Khanna & Company, Ca, Circle-32(1), 14-15F, Shivam House, Connaught New Delhi Place, New Delhi Pan: Aacpt7098K (Appellant) (Respondent) Acit, Vs. Shri Valmik Thapar, Circle-53(1), 19, Kautilya Marg, New Delhi New Delhi Pan: Aacpt7098K (Appellant) (Respondent) Assessee By : Shri Salil Agarwal, Senior Advocate Along With Shri Shailesh Gupta, Shri Mahur Agarwal, Advocates Revenue By: Shri H. K. Choudhary, Cit Dr Date Of Hearing 11/06/2021 (Last Hearing) Date Of Pronouncement 11/06/2021. O R D E R Per Prashant Maharishi, A. M. 1. These Are Three Appeals For Two Assessment Years Pertaining To One Assessee, Mr. Valmik Thapar, A Resident, Individual [Assessee]. Assessee Filed Ita Number

Capital Gain ('STCG') as claimed by the Assessee in the return filed by it. The AO was of the view that the earlier intimation under Section 143 (1) did not involve the application of mind by the AO and the new information had resulted from the scrutiny assessment for AY 2007-08. The Court relied on its decision in Orient

SHRI VALMIK THAPAR,NEW DELHI vs. DCIT, NEW DELHI

Appeals are disposed of by this common order as indicated above

Bench: Hon’Ble Justice P.P. Bhatt & Shri Prashant Maharishi(Through Video Conferencing) Shri Valmik Thapar, Vs. Acit, 19, Kautilya Marg, Circle-53(1), New Delhi New Delhi (Appellant) (Respondent) Shri Valmik Thapar, Vs. Dcit, M/S. R. N. Khanna & Company, Ca, Circle-32(1), 14-15F, Shivam House, Connaught New Delhi Place, New Delhi Pan: Aacpt7098K (Appellant) (Respondent) Acit, Vs. Shri Valmik Thapar, Circle-53(1), 19, Kautilya Marg, New Delhi New Delhi Pan: Aacpt7098K (Appellant) (Respondent) Assessee By : Shri Salil Agarwal, Senior Advocate Along With Shri Shailesh Gupta, Shri Mahur Agarwal, Advocates Revenue By: Shri H. K. Choudhary, Cit Dr Date Of Hearing 11/06/2021 (Last Hearing) Date Of Pronouncement 11/06/2021. O R D E R Per Prashant Maharishi, A. M. 1. These Are Three Appeals For Two Assessment Years Pertaining To One Assessee, Mr. Valmik Thapar, A Resident, Individual [Assessee]. Assessee Filed Ita Number

Capital Gain ('STCG') as claimed by the Assessee in the return filed by it. The AO was of the view that the earlier intimation under Section 143 (1) did not involve the application of mind by the AO and the new information had resulted from the scrutiny assessment for AY 2007-08. The Court relied on its decision in Orient

SH. VALMIK THAPAR,NEW DELHI vs. ACIT, NEW DELHI

Appeals are disposed of by this common order as indicated above

Bench: Hon’Ble Justice P.P. Bhatt & Shri Prashant Maharishi(Through Video Conferencing) Shri Valmik Thapar, Vs. Acit, 19, Kautilya Marg, Circle-53(1), New Delhi New Delhi (Appellant) (Respondent) Shri Valmik Thapar, Vs. Dcit, M/S. R. N. Khanna & Company, Ca, Circle-32(1), 14-15F, Shivam House, Connaught New Delhi Place, New Delhi Pan: Aacpt7098K (Appellant) (Respondent) Acit, Vs. Shri Valmik Thapar, Circle-53(1), 19, Kautilya Marg, New Delhi New Delhi Pan: Aacpt7098K (Appellant) (Respondent) Assessee By : Shri Salil Agarwal, Senior Advocate Along With Shri Shailesh Gupta, Shri Mahur Agarwal, Advocates Revenue By: Shri H. K. Choudhary, Cit Dr Date Of Hearing 11/06/2021 (Last Hearing) Date Of Pronouncement 11/06/2021. O R D E R Per Prashant Maharishi, A. M. 1. These Are Three Appeals For Two Assessment Years Pertaining To One Assessee, Mr. Valmik Thapar, A Resident, Individual [Assessee]. Assessee Filed Ita Number

Capital Gain ('STCG') as claimed by the Assessee in the return filed by it. The AO was of the view that the earlier intimation under Section 143 (1) did not involve the application of mind by the AO and the new information had resulted from the scrutiny assessment for AY 2007-08. The Court relied on its decision in Orient

COMMISSIONER OF INCOME TAX vs. ECE INDUSTRIES LTD.

Bench: HON'BLE MR. JUSTICE A.K.SIKRI,HON'BLE MR. JUSTICE SURESH KUMAR KAIT

gain arising to a non-resident from the transfer of ITA Nos.417 of 2007 & 1069 of 2007 Page 14 of 22 shares in, or debentures of, an Indian company referred to in the first proviso, the provisions of Clause (ii) shall have effect as if for the words "cost of acquisition" and "cost of any improvement", the words "indexed cost

Commissioner of Income Tax vs. ECE Industries Limited

gain. Second proviso to Section 48 is as under: 2010:DHC:6300-DB shares in, or debentures of, an Indian company referred to in the first proviso, the provisions of Clause (ii) shall have effect as if for the words "cost of acquisition" and "cost of any improvement", the words "indexed cost of acquisition" and "indexed cost of any improvement

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)

31. In view of the above, the Assessee submits that the orders passed by the lower authorities taxing the capital gains on the shares which were acquired in 2008 and sold in 2011, which is much before 1 April 2017, is unsustainable and bad in law. V. The Assessee is not a resident of India as its control & management

DCIT, NEW DELHI vs. M/S. BHARAT SANCHAR NIGAM LTD., NEW DELHI

In the result, assessee’s appeal is allowed to the extent as mentioned above on the preliminary issue and the departmental appeal is dismissed

Bench: Smt Diva Singh & Sh.J.S.Reddyi.T.A .No.-3304/Del/2010 (Assessment Year-2004-05) Bharat Sanchar Nigam Ltd., Vs Dcit, Corporate Office, Taxation Section, Circle-2(1), Room No.-398, First Floor, Bharat Sanchar Bhawan, C.R.Building, I.P.Estate, Janpath, New Delhi-1110001. New Delhi Pan-Aabcb5576G (Appellant) (Respondent)

Capital Services [2000] 5 SCC 515; and Padman Sundra Rao vs State of Tamil Page 12 of 44 I.T.A .No.-3304 & 3386/Del/2010 Nadu [2002] 255 ITR 147 (SC), for the proposition that it is one of the fundamental principles of interpretation of statute that omissions in statute as a general Rule cannot be supplied by construction. It was submitted that

BHARAT SANCHAR NIGAM LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, assessee’s appeal is allowed to the extent as mentioned above on the preliminary issue and the departmental appeal is dismissed

Bench: Smt Diva Singh & Sh.J.S.Reddyi.T.A .No.-3304/Del/2010 (Assessment Year-2004-05) Bharat Sanchar Nigam Ltd., Vs Dcit, Corporate Office, Taxation Section, Circle-2(1), Room No.-398, First Floor, Bharat Sanchar Bhawan, C.R.Building, I.P.Estate, Janpath, New Delhi-1110001. New Delhi Pan-Aabcb5576G (Appellant) (Respondent)

Capital Services [2000] 5 SCC 515; and Padman Sundra Rao vs State of Tamil Page 12 of 44 I.T.A .No.-3304 & 3386/Del/2010 Nadu [2002] 255 ITR 147 (SC), for the proposition that it is one of the fundamental principles of interpretation of statute that omissions in statute as a general Rule cannot be supplied by construction. It was submitted that

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

31 st March, 2019 shall not exceed 50% of the tax rate applicable on such gains in the State of residence of the company whose shares are being alienated; 4. Gains from the alienation of any property other than that referred to in paragraphs 1, 2, 3 and 3A shall be taxable only in the Contracting State of which