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

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

(Now known as Sony India Limited)

37(1) of the Act. As noticed above and subsequently, provisions of Chapter X are applicable to international transactions between two related enterprises. The purpose of determination of arm‘s length price is to find out the fair and true market value of the transaction and accordingly the adjustment, if required, is made. The said exercise has its own object

CHANDER KALAN,DELHI vs. NEAC, DELHI

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

1) or S. 56(2)(viii) as it existed at the relevant time. ” (Complete Extract is enclosed as Enclosure B) g. The above has to be read considering the fact that despite the amendments to Section 56 and Section 145A (now Section 145B) of the Act, the provisions of Section 10 (37) and Section 45 were never 10 amended

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

gain of Rs.6,90,68,982/- as business income. 9.3 That the assessing officer erred on facts and in law in holding that investment in units of mutual funds and shares were made as a systematic business activity, without appreciating that such investments were made on capital account and not as “stock-in-trade”. 9.4 That the assessing officer erred

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

gain of Rs.6,90,68,982/- as business income. 9.3 That the assessing officer erred on facts and in law in holding that investment in units of mutual funds and shares were made as a systematic business activity, without appreciating that such investments were made on capital account and not as “stock-in-trade”. 9.4 That the assessing officer erred

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]

37(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

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

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

PTC INDIA FINANCIAL SERVICES LTD.,NEW DELHI vs. DCIT, CIRCLE- 19(2), NEW DELHI

In the result, the appeals of the assessee for AY 2013-14 and 2014-15

Bench: Shri N.K. Billaiya & Ms. Astha Chandraasstt. Year 2013-14 & Asstt. Year 2014-15

37(1) 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), lad out or expended wholly and exclusively for the purposes of the business or profession shall be allowed in computing the income chargeable under the head Profits and gains

ADDL. CIT, SPECIAL RANGE- 7, NEW DELHI vs. PTC INDIA FINANCIAL SERVICES LTD, NEW DELHI

In the result, the appeals of the assessee for AY 2013-14 and 2014-15

Bench: Shri N.K. Billaiya & Ms. Astha Chandraasstt. Year 2013-14 & Asstt. Year 2014-15

37(1) 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), lad out or expended wholly and exclusively for the purposes of the business or profession shall be allowed in computing the income chargeable under the head Profits and gains

ACIT, NEW DELHI vs. M/S. PTC INDIA FINANCIAL SERVICES LTD., NEW DELHI

In the result, the appeals of the assessee for AY 2013-14 and 2014-15

Bench: Shri N.K. Billaiya & Ms. Astha Chandraasstt. Year 2013-14 & Asstt. Year 2014-15

37(1) 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), lad out or expended wholly and exclusively for the purposes of the business or profession shall be allowed in computing the income chargeable under the head Profits and gains

M/S. PTC INDIA FINANCIAL SERVICES LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, the appeals of the assessee for AY 2013-14 and 2014-15

Bench: Shri N.K. Billaiya & Ms. Astha Chandraasstt. Year 2013-14 & Asstt. Year 2014-15

37(1) 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), lad out or expended wholly and exclusively for the purposes of the business or profession shall be allowed in computing the income chargeable under the head Profits and gains

RICHMOND EDUCATIONAL SOCIETY,NOIDA vs. DCIT/ACIT CENTRAL CIRCLE, GHAZIABAD, GHAZIABAD

In the result, the appeal of the Assessee is allowed

capital of that concern, the exemption under section\n11 or section 12 shall not be denied in relation to any income other than the income\narising to the trust or the institution from such investment, by reason only that the\nfunds of the trust or the institution have been invested in a concern in which such\nperson has a substantial

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

Appeal of the revenue is dismissed

1), New Delhi\n3.5. Thereafter, the AO prepared a tabular chart under the title 'Testing the\nconditions of section 54B', which is reproduced as under:-\nCondition\nTesting the conditions of Sec 54B\nWhether\nfulfilled\nRemarks\n1\ncapital gain arises from\nthe transfer of a capital Yes\nasset being land\nSale of Agricultural land of area 37

SAKET KANOI,GURGAON vs. DCIT INTL. TAXATION, GURGAON

In the result, the appeal of the assessee is allowed

Bench: Dr. B. R. R. Kumar, Sh. Yogesh Kumar Us

Section 32(3) of units of UTI for the purpose of holding that the unit is a share." 6.6 In view of the aforesaid reasoning and the judicial pronouncement cited supra, we are of the view that the CIT(A) is 37 Saket Kanoi justified in deleting the addition of Rs.1,34,99,407 as short term capital gain

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

capital gain and siphoning out the gains to tax heavens, cannot\nbe ruled out. There can be no rigging of the price or artificial appreciation of the\ncapital gains.\n\n17. Thus there is no doubt left that under the Indian Laws, the shares and\nmutual fund both are different forms of securities and investment in both of\nthem have

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

37,431 Net Compensation credit. 3.3 It is submitted that the aforesaid compensation is duly treated as capital receipt and considered as part of sale consideration for the purpose of computing capital gain, details tabulated as under: S.No. Particular Amount i) Sales Consideration Received 1,09,00,000 ii) Emaar MGF Land Ltd 24,86,030 Compensation Credit: iii) Total