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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

capital gain in the hands of the assessee as under:- Amount ( In Rs) Sale consideration on 19/6/2008 (STT) 56,35,46,732/- 1 12,50,000 shares (excluding STT as per proviso to section

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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

capital gain in the hands of the assessee as under:- Amount ( In Rs) Sale consideration on 19/6/2008 (STT) 56,35,46,732/- 1 12,50,000 shares (excluding STT as per proviso to section

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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

capital gain in the hands of the assessee as under:- Amount ( In Rs) Sale consideration on 19/6/2008 (STT) 56,35,46,732/- 1 12,50,000 shares (excluding STT as per proviso to section

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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

capital gain in the hands of the assessee as under:- Amount ( In Rs) Sale consideration on 19/6/2008 (STT) 56,35,46,732/- 1 12,50,000 shares (excluding STT as per proviso to section

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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

capital gain in the hands of the assessee as under:- Amount ( In Rs) Sale consideration on 19/6/2008 (STT) 56,35,46,732/- 1 12,50,000 shares (excluding STT as per proviso to section

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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

capital gain in the hands of the assessee as under:- Amount ( In Rs) Sale consideration on 19/6/2008 (STT) 56,35,46,732/- 1 12,50,000 shares (excluding STT as per proviso to section

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

35,49,508 iv) Short-term capital gain u/s 111A 1,85,41,338 v) Short-term capital gain Others 29,95,242 Profit and gains of Business or profession Trading in mutual funds 3,60,77,965 Income from other sources Dividend income 8,19,14,172 5. The Assessing Officer to understand the different nature of transaction undertaken

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

35,49,508 iv) Short-term capital gain u/s 111A 1,85,41,338 v) Short-term capital gain Others 29,95,242 Profit and gains of Business or profession Trading in mutual funds 3,60,77,965 Income from other sources Dividend income 8,19,14,172 5. The Assessing Officer to understand the different nature of transaction undertaken

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

35,49,508 iv) Short-term capital gain u/s 111A 1,85,41,338 v) Short-term capital gain Others 29,95,242 Profit and gains of Business or profession Trading in mutual funds 3,60,77,965 Income from other sources Dividend income 8,19,14,172 5. The Assessing Officer to understand the different nature of transaction undertaken

COMMISSIONER OF INCOME TAX vs. ECE INDUSTRIES LTD.

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

Section 45 and 48 shall be applied. Accordingly, the Tribunal directed the AO to recomputed the capital gain in the light of observations made by the Tribunal after providing full opportunity to the assessee in accordance with law. 5. In support of its view, the Tribunal in Para 35

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 48 of the act , capital gain has to be computed in respect of the ‗full value of the consideration received or accrued‘. The coordinate bench accepted that only consideration agreed between the parties and not any hypothetical fair market value would be taken into consideration for computing capital gains. However, tribunal held that on reading of the agreement

Commissioner of Income Tax vs. ECE Industries Limited

Section 45 and 48 shall be applied. Accordingly, the Tribunal directed the AO to recomputed the capital gain in the light of observations made by the Tribunal after providing full opportunity to the assessee in accordance with law. 5. In support of its view, the Tribunal in Para 35

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

35. We note from Article 13 with respect to capital gains that gains derived by a resident of a contracting State from the alienation of any property other than those mentioned in paragraphs 1, 2 and 3 of the Article shall be taxable only in that State i.e. in the present case in Mauritius and not in India

EMERGING INDIA FOCUS FUNDS,MAURITIUS vs. ACIT, CIRCLE INT. TAXATION 1(2)(2), DELHI

Bench: Shri Anubhav Sharma & Shri Manish Agarwal

section also exempts capital gains arising from a unit of an equity-oriented fund. This treatment of capital gain to both equity shares and units of equity oriented funds logically establish that units of equity funds are analogous/have semblance with the equity shares. • Thus, the intent of Income Tax Law is very clear to treat the units of equity- oriented

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

capital gains". 4. The assessment order does not mention the date on which the shares in question were purchased. We also note that the assessment order records that the assessee had converted and transferred the shares in question under the head "investment" on 1st April, 2004. This factual position was not disputed or questioned. The shares in question were sold

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

Section 28 (va) of the Income Tax Act to assume that the consideration for sale of shares could be taxed as business profit of the assessee ignoring the fact that u/s. 28 (va) there is specific exclusion of capital gains from the scope of tax liability under the head ‘business’ or ‘profession’. The terms of the contract between the assesses

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 143 (1) of the 2 Income-tax Act, 1961 (for short ‘the Act’) on 28.12.2004. The case was selected for scrutiny and notices u/s 143(2) and 142(1) of the Act were issued and served on the assessee. In response, ld. AR for the assessee attended from time to time and submitted relevant information as called

MONI KUMAR SUBBA,DELHI vs. ACIT, NEW DELHI

In the result ground No. 2 of the appeal of the assessee is allowed

Bench: Smt. Diva Singh & Shri O.P. Kantassessment Year: 2006-07 Dcit, Vs. Sh. Moni Kumar Subba, Central Circle-4, New Delhi Subba Farm House, 118, Village Sultanpur, Mehrauli, Gurgaon Road, Delhi Pan :Aasps1484J (Appellant) (Respondent) & Assessment Year: 2006-07 Shri. Moni Kumar Subba, Vs. Acit, Subba Farm House, 118, Central Circle-4, E-2, Ara Village Sultanpur, Mehrauli, Centre, Jhandewalan Extn., Gurgaon Road, Delhi New Delhi Pan :Aasps1484J (Appellant) (Respondent)

section 45 as capital gain. the Assessing Officer to take refundable deposit of Rs. 35 crores as consideration. As per the terms