TELETUBE ELECTRONICS LTD

The appeal of the Assessee is allowed

gains arising from the transfer of short-term capital assets. If it was the case of the Revenue that there was in fact any such slump sale the treatment itself would be very different and the question of any disallowance as a revenue expenditure would not even arise. He pointed out that the Revenue was unclear whether the transaction

ACIT, NEW DELHI vs. M/S. KCT PAPERS LTD., NEW DELHI

In the result, grounds raised by the revenue are dismissed

Bench: Shri S.Rifaur Rahman & Shri Anubhav Sharmaacit, Circle 5 (1) Vs. M/S. Kct Papers Limited, New Delhi. Thapar House, 124, Janpath, New Delhi – 110 001. (Pan : Aacck4937D) (Appellant) (Respondent) Assessee By : Shri Rohit Jain, Advocate Shri Deepesh Jain, Advocate Shri Tavish Verma, Advocate Revenue By : Shri Kailash Dan Ratnoo, Cit Dr Date Of Hearing : 10.09.2025 Date Of Order : 05.12.2025 O R D E R Per S.Rifaur Rahman: 1. This Appeal Is Filed By The Assessee Against The Order Of Ld. Commissioner Of Income-Tax (Appeals)-Viii, New Delhi [Hereinafter Referred To As ‘Ld. Cit (A)] Dated 21.03.2014For Assessment Year 2008-09. 2. Brief Facts Of The Case Are, The Assessee Company Belongs To The Thapar Group Established By Late Lala Karam Chand Thapar. There Was A Family Settlement Between The Various Constituents Of The Karam Chand Thapar Family As A Result Of Which Revenue-Organization/Restructuring Of The Group Dated 27Th April, 2001. The Re April, 2001. The Re-Organization Of The Group Companies & Trusts Organization Of The Group Companies & Trusts Was Made Into Four Groups, As Under, Each Headed By The Sons Of Late Lala Was Made Into Four Groups, As Under, Each Headed By The Sons Of Late Lala Was Made Into Four Groups, As Under, Each Headed By The Sons Of Late Lala K.C. Thapar. The Family Tree Of Karam Chand T K.C. Thapar. The Family Tree Of Karam Chand Thapar Family Is Explained As Hapar Family Is Explained As Under In The Form Of A Diagrammatic Chart: Under In The Form Of A Diagrammatic Chart:

capital gains at the time of amalgamation and subsequent demerger in the present case. Thus, the shares of BIL received by the assessee from KCTBL at the time of tax neutral demerger was also exempt from tax and the said transaction was not considered as ‘transfer’. 33. It is submitted that section 49(1)(e)of the Act specifically provides

DCIT CENTRAL CIRCLE 05 , DELHI vs. DEEPAK KOTHARI , KANPUR

In the result, the appeal filed by the assessee is allowed

Bench: SHRI S. RIFAUR RAHMAN (Accountant Member), SHRI VIMAL KUMAR (Judicial Member)

Gain (STCG) on sale of shares, namely, Hindustan Petroleum Corporation Limited (HPCL) and Gas Authority of India Limited (GAIL). It was observed that loss on sale of the shares was due to issue of bonus shares of these companies. He observed that assessee had sold shares after receiving the bonus shares and claimed the Short Term Capital Loss, claimed

DEEPAK KATHARI,KANPUR vs. ACIT, CC-5, NEW DELHI

In the result, the appeal filed by the assessee is allowed

Bench: SHRI S. RIFAUR RAHMAN (Accountant Member), SHRI VIMAL KUMAR (Judicial Member)

Gain (STCG) on sale of shares, namely, Hindustan Petroleum Corporation Limited (HPCL) and Gas Authority of India Limited (GAIL). It was observed that loss on sale of the shares was due to issue of bonus shares of these companies. He observed that assessee had sold shares after receiving the bonus shares and claimed the Short Term Capital Loss, claimed

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

In the result, the appeal of the appeal of assessee is allowed

35,779/- earned by the assessee from transactions in\nshares is taxable in India as Capital Gain as per Income Tax Act 1961 as\nper Article 13(A) of DTAA, the same is added back to the income of the\nassessee. The penalty u/s 270A for underreporting of income is being\ninitiated.\n\n4. Aggrieved with the order

KUSUM DUBE,NEW DELHI vs. ITO, WARD- 2(3), GURGAON

The appeal of the assessee is allowed

Bench: Shri Mahavir Singh(), Ms. Madhumita Roy & Shri Avdhesh Kumar Mishrakusum Dube Vs. Ito Ward 2(3) C/O Kapil Goel Adv. Gurgaon, Income Tax F-26/124 Sector 7, Rohini Department, Phase V, Delhi - 110085 Udyog Vihar, Sector 19, Gurugram, Haryana 122016 Haryana "थायीलेखासं./जीआइआरसं./Pan/Gir No: Aewpd9787R Appellant .. Respondent

capital gain rejecting the claim under Section 54F of the Act. The Ld.CIT(A) restricted the said addition to the tune of Rs.15,63,566/-. 3. The case of the assessee before us is this that the order passed by the Ld. AO being ITO, Ward -2(3), Gurgaon under Section 143(3) is without appreciating the fact that

ACIT CIRCLE-1(2), NEW DELHI vs. ASSOCIATED TECHNO PLASTICS PVT LTD, NEW DELHI

The appeal of the assessee is allowed

Bench: Shri Mahavir Singh(), Ms. Madhumita Roy & Shri Avdhesh Kumar Mishrakusum Dube Vs. Ito Ward 2(3) C/O Kapil Goel Adv. Gurgaon, Income Tax F-26/124 Sector 7, Rohini Department, Phase V, Delhi - 110085 Udyog Vihar, Sector 19, Gurugram, Haryana 122016 Haryana "थायीलेखासं./जीआइआरसं./Pan/Gir No: Aewpd9787R Appellant .. Respondent

capital gain rejecting the claim under Section 54F of the Act. The Ld.CIT(A) restricted the said addition to the tune of Rs.15,63,566/-. 3. The case of the assessee before us is this that the order passed by the Ld. AO being ITO, Ward -2(3), Gurgaon under Section 143(3) is without appreciating the fact that

INCOME TAX vs. LIMITED

The appeal is dismissed

Section 50 (2) of the Act, the entire surplus amount received by the Assessee on the sale of the aforesaid office premises would be liable to „short term capital gains‟. Accordingly, capital gain was calculated by the Assessing Officer by deducting the written down value of the „block of assets‟ as on 01.04.1997 which appeared in the books

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

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

Appeal is dismissed

Bench: SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER\nAND\nSHRI S. RIFAUR RAHMAN, ACCOUNTANT MEMBER\n\nITA No.1036/Del/2024\nAssessment Year: 2020-21\n\nIncome Tax Officer,\nWard-11(1),\nDelhi\nVs.\nM/s. HKT Corporation Pvt.\nLtd.,\n7, South Patel Nagar,\nNew Delhi\nPAN: AACCH0308M\n\n(Appellant)\n\n(Respondent)\n\nAssessee by\nSh. Tarandeep Singh, Adv.\n\nDepartment by\nSh. Rajesh Kumar Dhanesta, Sr. DR\n\nDate of hearing\n23.06.2025\n\nDate of pronouncement\n09.07.2025\n\nORDER\n\nPER SATBEER SINGH

2 years after the date of conversion of stock in trade into\ninvestment with a specific declaration. Mere fact that Section\n10(38) was introduced in the statute by Finance Act 2004 with effect\nfrom 1st April, 2005, does not mean that the said conversion was\nimproper or illegal. After the said Section was inserted, the assessee\non noticing

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)

2) (Capital gain on movable property of Permanent Establishment), 13(3) (Capital gain on ships and aircrafts), 13(3A) (Capital gain on shares acquired after 1 April 2017), 13(3B) (Capital gain on shares between 1 April 2017 to 31 March 2019), will be taxable only in the country in which alienator is a resident. Therefore, the amended Article

NIKESH ARORA,GURGAON vs. DCIT, INTERNATIONAL TAXATION, GURGON

In the result, appeal is allowed in the terms indicated above

Bench: We Proceed To Deal With The Substantive Issues Arising

capital gain from sale of shares. 33. Be that as it may, it is a proved fact on record that assessee never became the legal owner of the shares as the shares were never transferred in assessee’s name. The assessee also accepts 26 | P a g e AY: 2017-18 the fact that he could not have instituted

ADDL. CIT, SPECIAL RANGE-7, NEW DELHI vs. PURAN ASSOCIATES PVT. LTD., NEW DELHI

In the result, the appeal of the Revenue is partly allowed

Bench: Shri Challa Nagendra Prasad & Shri Pradip Kumar Kedia

35,294/- should be assessed under the head capital gains not under the head income from business and profession. 2. Whether on the facts and in the circumstances of the case, I.T.A. No.5656/Del/2019 2 the Ld. CIT(A) was right in deleting the addition made by the AO under section

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

2) (3) of section 14A of the Act were not satisfied. 4.2 That the assessing officer erred on facts and in law in holding that suo- motu disallowance of Ra.2,09,65,159/- by the appellant in the return of income under section 14A of the Act was incorrect and not backed by the documentary evidence. 4.3 Without prejudice

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

2) (3) of section 14A of the Act were not satisfied. 4.2 That the assessing officer erred on facts and in law in holding that suo- motu disallowance of Ra.2,09,65,159/- by the appellant in the return of income under section 14A of the Act was incorrect and not backed by the documentary evidence. 4.3 Without prejudice

DCIT, CIRCLE 52(1), NEW DELHI vs. BHUPINDER SINGH BHALLA, NEW DELHI

Appeal of the revenue is dismissed

2), where the capital gain\narises from the transfer of a capital asset being land which, in the two years\nimmediately preceding the date on which the transfer took place, was being\nused by the assessee being an individual or his parent, or a Hindu undivided\nfamily for agricultural purposes (hereinafter referred to as the original asset),\nand the assessee

M/S EICHER GOODEARTH LTD

The appeals stand disposed of as above

Capital Management (P) Ltd. The Special Bench of the Tribunal held that the expenditure claimed was hit by the provisions of section 14A of the said Act. Pursuant to the majority decision of the Special Bench of the Tribunal, the issue of quantum of expenditure to be disallowed was restored to the assessing officer to be recomputed in terms