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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

capital gain ii. according to provisions of section 45 (2A) of the act, cost of acquisition and the period of holding of the security shall be determined on the basis of First- in – First- out method (FIFO) when beneficial interest on securities is held by the assessee. iii. Assessee submitted that at the time of transfer of shares from individual

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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

capital gain ii. according to provisions of section 45 (2A) of the act, cost of acquisition and the period of holding of the security shall be determined on the basis of First- in – First- out method (FIFO) when beneficial interest on securities is held by the assessee. iii. Assessee submitted that at the time of transfer of shares from individual

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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

capital gain ii. according to provisions of section 45 (2A) of the act, cost of acquisition and the period of holding of the security shall be determined on the basis of First- in – First- out method (FIFO) when beneficial interest on securities is held by the assessee. iii. Assessee submitted that at the time of transfer of shares from individual

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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

capital gain ii. according to provisions of section 45 (2A) of the act, cost of acquisition and the period of holding of the security shall be determined on the basis of First- in – First- out method (FIFO) when beneficial interest on securities is held by the assessee. iii. Assessee submitted that at the time of transfer of shares from individual

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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

capital gain ii. according to provisions of section 45 (2A) of the act, cost of acquisition and the period of holding of the security shall be determined on the basis of First- in – First- out method (FIFO) when beneficial interest on securities is held by the assessee. iii. Assessee submitted that at the time of transfer of shares from individual

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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

capital gain ii. according to provisions of section 45 (2A) of the act, cost of acquisition and the period of holding of the security shall be determined on the basis of First- in – First- out method (FIFO) when beneficial interest on securities is held by the assessee. iii. Assessee submitted that at the time of transfer of shares from individual

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 2 (42A) of the act, and submitted that in its plain meaning the equity shares of a unlisted company can only become long term assets if held for more than 36 months. c. He further referred to the decision of the honourable Supreme Court in case of CIT vs Asoka Chimanbhai 56 ITR 42 wherein in para number

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

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 clarified that companies

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)

37, Centrum Plaza, DLF Golf Circle-2. Course Road, Sector 53, Gurgaon Gurgaon (Haryana) PAN: BRAPS1366P (Appellant) (Respondent) Assessee by: Shri Ajay Vohra, Sr. Adv. Shri Deepesh Garg, Adv. & Ms. Shaurya Jain, CA Department by: Ms. Harpreet Kaur Hansra, Sr. DR Date of Hearing: 11.08.2025 Date of pronouncement: 28.10.2025 O R D E R PER VIMAL KUMAR, JUDICIAL MEMBER

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) in the context of sale of shares and held that the long term capital gain on sale of those assets cannot be disregarded and the income there from cannot be brought to tax as business income u/s.28(va) - Para 10 &11. 10. The Delhi Bench of IT AT in the case of Hulas Rahul Gupta

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

37 & 38 of the assessee’s paper book [APB for short] and vehemently contended that the assessee fairly admitted that ITR for A.Y 2008-09 does not have any inclusion of capital gain in the computation of income. The ld. DR further contended that the assessee neither offered capital gain for A.Y 2008-09 in its return of income

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)

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 is not situated wholly in India: a. Residential status of an assessee is required to be determined every year

SUMITOMO CORPORATION,NEW DELHI vs. DCIT (INTERNATIONAL TAXATION), NEW DELHI

Appeal of the assessee is partly allowed for statistical purpose

Bench: Shri R. K. Panda & Ms Suchitra Kamble(Through Video Conferencing) Sumitomo Corporation Vs Dcit (International Taxation) G-195, Circle-3(1)(2) Sarita Vihar New Delhi New Delhi Aabcs6011P (Appellant) (Respondent)

section 48 of the Act. The Ld. AR submitted that the Assessing Officer had committed two errors while computing capital gain at Rs. 7,31,67,674/-, the first one being he had adopted conversion rate percentage TTBR i.e. telegraphic transfer buying rate on the date of transfer @ 1.62. The submission of the Ld. AR is that the agreement

ACIT, NEW DELHI vs. AJAY KAILA, NEW DELHI

In the result, the appeal of the Revenue is dismissed

Bench: Shri B.P. Jain & Shri Kuldip Singh.

37,22,500/- and has shown long-term capital gain on the same at Rs.99,53,675/-. The assessee has claimed deduction under section

BHUPINDER SINGH JULKA,NEW DELHI vs. ACIT, CIRCLE-INT. TAX. 2(1)(2), DELHI

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

Bench: Shri Kul Bharat & Shri M. Balaganesh

Section 143(3)/ 144C(13) of the Act. 2. That the learned AO/ DRP has further erred both in law and on fact in making an addition of Rs. 3,37,202/- representing alleged short term capital gain

PURAN ASSOCIATES PVT. LTD.,NEW DELHI vs. ACIT, NEW DELHI

In the result, appeal of the assessee is partly allowed

Bench: Shri Bhavnesh Saini & Shri O.P. Kant, Accountantmember

capital gain. The ground No.2 relates to disallowance of ₹ 53,16,568/- 3. under section 14A read with rule 8D of Income Tax Rules, 1962. The assessee disclosed income of ₹ 28.3 crores and made disallowance of ₹ 10,82,334/-, under section 14A of the Act as under: 16 ITA No. 3785/Del./2017 3.1 The action of the assessee of reducing

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

Bench: Shri Anubhav Sharma & Shri Manish Agarwal

37 taxmann.com 296, wherein it has been held that mutual fund units (including equity oriented mutual funds) could not be considered as shares of companies and hence, gains arising on mutual fund units shall not be liable to tax in India under the relevant DTAA. • Accordingly, since gain on redemption of mutual fund units shall be covered by Article

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