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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

capital gain on sale of shares of New Delhi television limited of RS. 1,36,67,68,704.42 as exempt under section

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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

capital gain on sale of shares of New Delhi television limited of RS. 1,36,67,68,704.42 as exempt under section

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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

capital gain on sale of shares of New Delhi television limited of RS. 1,36,67,68,704.42 as exempt under section

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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

capital gain on sale of shares of New Delhi television limited of RS. 1,36,67,68,704.42 as exempt under section

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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

capital gain on sale of shares of New Delhi television limited of RS. 1,36,67,68,704.42 as exempt under section

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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

capital gain on sale of shares of New Delhi television limited of RS. 1,36,67,68,704.42 as exempt under section

ACIT, MORADABAD vs. M/S. PRATHMA BANK, MORADABAD

In the result, appeal of the department is dismissed

Bench: Sh. N. K. Saini, Am & Smt. Beena Pillai, Jm Ita No. 4090/Del/2013 : Asstt. Year : 2010-11 Asstt. Commissioner Of Income Vs M/S Prathma Bank, Tax, Circle-1, Ramganga Vihar, Moradabad Moradabad (U.P.) (Appellant) (Respondent) Pan No. Aaajp0988Q Assessee By : Sh. Piyush Kaushik, Adv. Revenue By : Smt. Paramita Tripathy, Cit Dr Date Of Hearing : 20.06.2017 Date Of Pronouncement : 14.07.2017 Order Per N. K. Saini, Am: This Is An Appeal By The Department Against The Order Dated 17.04.2013 Of Ld. Cit(A), Bareilly.

capital gain had been disclosed at Rs.24,95,386/- and finally in column No. 14 losses of current year carried forward had been claimed at Rs.28,62,39,159/-. The AO noticed that the assessee vide revised return filed on 11.10.2010 had claimed deduction u/s 36(1)(viia) of the Act at Rs.105,69,80,000/- which

NATIONAL HOUSING BANK,NEW DELHI vs. ADDL. CIT, NEW DELHI

In the result ground No. 8 of the appeal of the assessee is allowed with above direction

Bench: Shri Kuldip Singh & Shri Prashant Maharishinational Housing Bank, Addl Cit, Core-5A, India Habitat Centre, Range-31(1), Vs. Lodhi Road, New Delhi New Delhi (Appellant) (Respondent) National Housing Bank, Addl Cit, Core-5A, India Habitat Centre, Range-31(1), Lodhi Road, New Delhi Vs. New Delhi (Appellant) (Respondent) National Housing Bank, Addl Cit, Core-5A, India Habitat Centre, Range-31(1), Vs. Lodhi Road, New Delhi New Delhi (Appellant) (Respondent) National Housing Bank, Addl Cit, Core-5A, India Habitat Centre, Range-31(1), Vs. Lodhi Road, New Delhi New Delhi (Appellant) (Respondent) Page 2 Of 50 National Housing Bank, Addl Cit, Core-5A, India Habitat Centre, Range-31(1), Vs. Lodhi Road, New Delhi New Delhi (Appellant) (Respondent) National Housing Bank, Addl Cit, Core-5A, India Habitat Centre, Range-31(1), Vs. Lodhi Road, New Delhi New Delhi (Appellant) (Respondent)

36(1)(viii) for AY 2007-08 provides as under:- “(1) The deductions provided for in the following clauses shall be allowed in respect of the matters dealt with therein, in computing the income referred to in section 28-- (viii) in respect of any special reserve and maintained created by a financial corporation which is engaged in providing long-term

SUDHAKAR ARORA,DELHI vs. ADIT, CPC, BENGALURU

In the result, the appeal of the assessee is dismissed

Bench: Shri Sunil Kumar Singh & Shri Brajesh Kumar Singh[Assessment Year: 2018-19]

1) of the Act being a 'General' section provides that Any expenditure (not being expenditure of the nature described in sections 30 to 36 and not being in the nature of capital expenditure or personal expenses of the assessee), laid out or expended wholly and exclusively for the purposes of the business or profession shall be allowed in computing

M/S. AT & T GLOBAL NETWORK SERVICES (INDIA) PVT. LTD.,GURGAON vs. DCIT, NEW DELHI

In the result, appeal of the assessee is partly allowed and appeal of the revenue is dismissed

Bench: Shri I.C.Sudhir & Shri Prashant Maharishiat & T Global Network Services Dcit, (India) Pvt Ltd., Circle-2(1), Vs. Vatika Lok-1, Block-A, Gurgaon New Delhi Pan:Aafca8810L (Appellant) (Respondent) Dcit, At & T Global Network Services Circle-2(1), (India) Pvt Ltd., Vs. New Delhi Vatika Lok-1, Block-A, Gurgaon Pan:Aafca8810L (Appellant) (Respondent)

gainfully refer the provision of section 36(1) (iii) in this regard. The said section read as under:- ―(iii) the amount of the interest paid in respect of capital

DCIT, NEW DELHI vs. M/S. DEWAN SUGAR LTD., NEW DELHI

In the result, the appeal of the Revenue is dismissed

Bench: Sh. H.S. Sidhu & Sh. O.P. Kantassessment Year: 2008-09 Dcit, Vs. M/S. Dewan Sugar Ltd., Circle-10(1), New Delhi Surya Plaza, 1St Floor, K- 185, Sarai Jullena, New Friends Colony, New Delhi Pan :Aaacd3465H (Appellant) (Respondent)

capital expenditure of personal expenses of the taxpayers, laid out or expended wholly and exclusively for the purposes of his business, is to be allowed as deduction in computing the income chargeable under the head "Profits and gains of business or profession". Hence, any expenditure incurred by a sugar factory on cane development programmes would be eligible for deduction

JCIT(OSD), RANGE-10, NEW DELHI , ITO C.R. BUILDING vs. RURAL ELECTRIFICATION CORPORATION LTD. , KASTURBA NAGAR

In the result, appeals filed by the revenue in the AY 2020-21 and AY\n2021-22 are dismissed

gains of business or profession\" (before making any\ndeduction under this clause) carried to such reserve account\"\n2.4 That the Income Tax Department has drawn any adverse inference on\nthe said issue in the preceding years but has drawn favourable\ninference in the subsequent years. The details are as under:\nAY\nAmount of\nupfront fees,\nprocessing etc\n(Rs.)\nAmount

COMMISSIONER OF INCOME TAX vs. ECE INDUSTRIES LTD.

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

36 months immediately preceding the date of transfer and hence, profits arising therefrom is long-term capital gain or loss and not short-term capital gain. (xiii) Section 48 of IT Act provides mode and method of computation of capital gain. Second proviso to Section 48 is as under: Provided further that where long-term capital gain arises from

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 gains arising out of the sale of the premises should not be taxed in the AY 1991-92. On this basis notice was issued on 4th December 1996 under Section 143 read with Section 147 of the Act seeking to reopen the assessment for AY 1991-92. 32.4 The Bombay High Court allowed the writ petition challenging the reopening

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 gains arising out of the sale of the premises should not be taxed in the AY 1991-92. On this basis notice was issued on 4th December 1996 under Section 143 read with Section 147 of the Act seeking to reopen the assessment for AY 1991-92. 32.4 The Bombay High Court allowed the writ petition challenging the reopening

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 gains arising out of the sale of the premises should not be taxed in the AY 1991-92. On this basis notice was issued on 4th December 1996 under Section 143 read with Section 147 of the Act seeking to reopen the assessment for AY 1991-92. 32.4 The Bombay High Court allowed the writ petition challenging the reopening

ACIT, CIRCLE- 19(1), NEW DELHI vs. ORIENTAL BANK OF COMMERCE, GURGAON

In the result, the appeals of the assessee are allowed and the appeals of the Revenue are dismissed

Bench: Sh. A. D. Jain, Vice-Dr. B. R. R. Kumarita No. 1581/Del/2017 : Asstt. Year : 2012-13 Ita No. 1582/Del/2017 : Asstt. Year : 2013-14 Ita No. 1583/Del/2017 : Asstt. Year : 2014-15 Ita No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank Of Commerce, Vs Addl. Cit, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 Dcit/Acit, Circle-19(1), New Delhi (Appellant) (Respondent) Pan No. Aaaco0191M

36, New Delhi dated 31.01.2017 and in ITA Nos.1199 & 1812/Del/2018 filed by the assessee and the Revenue against the orders of ld. CIT(A)-20, New Delhi dated 29.12.2017. ITA No. 1581/Del/2017 (G.No.1) (Assessee) ITA No. 1582/Del/2017 (G.No.1) (Assessee) ITA No. 1583/Del/2017 (G.No.1) (Assessee) ITA No. 1199/Del/2018 (G.No.1) (Assessee) ITA No. 2173/Del/2017 (G.No.1) (Department

ORIENTAL BANK OF COMMERCE,GURGAON vs. ACIT, CIRCLE- 19(1), NEW DELHI

In the result, the appeals of the assessee are allowed and the appeals of the Revenue are dismissed

Bench: Sh. A. D. Jain, Vice-Dr. B. R. R. Kumarita No. 1581/Del/2017 : Asstt. Year : 2012-13 Ita No. 1582/Del/2017 : Asstt. Year : 2013-14 Ita No. 1583/Del/2017 : Asstt. Year : 2014-15 Ita No. 1199/Del/2018 : Asstt. Year : 2015-16 Oriental Bank Of Commerce, Vs Addl. Cit, Central Accounts Office, Plot No. 5, Range-13 (Present Range-19) Sector-32, Institutional Area, New Delhi Gurgaon-122001 Dcit/Acit, Circle-19(1), New Delhi (Appellant) (Respondent) Pan No. Aaaco0191M

36, New Delhi dated 31.01.2017 and in ITA Nos.1199 & 1812/Del/2018 filed by the assessee and the Revenue against the orders of ld. CIT(A)-20, New Delhi dated 29.12.2017. ITA No. 1581/Del/2017 (G.No.1) (Assessee) ITA No. 1582/Del/2017 (G.No.1) (Assessee) ITA No. 1583/Del/2017 (G.No.1) (Assessee) ITA No. 1199/Del/2018 (G.No.1) (Assessee) ITA No. 2173/Del/2017 (G.No.1) (Department