SAT SAHIB SECURITIES PVT. LTD.,DELHI vs. DCIT, CIRCLE-7(1), NEW DELHI

In the result the appeal of the assessee is allowed

Bench: Sh. S. Rifaur Rahman & Sh. Sudhir Kumarassessment Year: 2006-07 M/S. Sat Sahib Securities Pvt. Vs Dcit Ltd. Pvt. Ltd., B-129, Anand Circle – 7 (1) Vihar, New Delhi-110092 New Delhi Pan No.Aabcs2456G (Appellant) (Respondent)

41,612/- and short term capital gain of Rs 67,87654/-. Apart from that, the assessee has also shown income from dividend which has been claimed as exempt income. 4. The assessee has filed return of income, declaring at Rs.72,16,819/-. The case of the assessee was selected for scrutiny and assessment under section

ITA Nos. 601/2011 & 602/2011 vs. ANSAL PROPERTIES & INFRASTRUCTURE LTD.

The appeals are disposed of

4 of 23 chargeable as short term capital gain. He held that the paper division was a separate unit for which accounts were being maintained separately and the profits were being worked out separately. Thus, the respondent-assessee was claiming depreciation for each unit/division separately and when the entire unit itself had been sold, no block of assets was left

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)

4( 1) of the Indo Mauritius Treaty read with Section 6(3) of the IT Act India read with Article 4(3) of the Treaty 26 (II) Judicial Dicta on tests for “control and management of affairs 223-239 situated wholly in India” 27 (III) Case of Dual Residence under the Treaty-Applicability of 235-239 Article 4

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 :-

4 Description Amount Salaries and other benefits 7,56,809 Entertainment 2,18,125.58 Professional charges (including 39,21,998.97 management fees paid to M/s. Kotak Securities of Rs.36,67,416.97) Vehicle running & maintenance 1,82,480.70 Donations 3,00,000 Loss on sale of assets 1,34,838.34 Security expenses 2,06,556 Travelling expenses 5,64,199 Membership

ESSAR COM LIMITED,MAURITIUS vs. ACIT, CIRCLE 1(2)(2), NEW DELHI

41 (page 157-\n161) ECOM\n8. Written submissions of the ECL/Ecom and analysis\nand rejection of arguments by the CIT(A)\nPara 43 (page 164-177) ECL\nPara 43 (page 161-173)\nECOM\n9. Non-applicability of paragraph 4 of Article 13 under\nIndia Mauritius Treaty- Application of Section 6(3)\nof the Indian Income Tax Act, Article 4

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

section 14A are mandatory provisions.” 3. When the matter was called for hearing, the ld. counsel for the assessee in the Revenue’s Appeal submitted at the outset that identical issue came up in Assessee’s own case for Assessment Years 2010-11, 2012-13, 2013-14 and 2014-15 wherein the benefit of Long Term Gains arising

TELETUBE ELECTRONICS LTD

The appeal of the Assessee is allowed

41. The case of the Assessee is that by virtue of Explanation (1) to Section 2 (47), Section 269UA (d) (i) is attracted. Section 269UA(f)(i) describes 'transfer' for the purposes of Section 269 UA (d) (i) to mean the transfer of property, including by way of lease, “for a term not less than twelve years.” Therefore

TELETUBE ELECTRONICS LTD

The appeal of the Assessee is allowed

41. The case of the Assessee is that by virtue of Explanation (1) to Section 2 (47), Section 269UA (d) (i) is attracted. Section 269UA(f)(i) describes 'transfer' for the purposes of Section 269 UA (d) (i) to mean the transfer of property, including by way of lease, “for a term not less than twelve years.” Therefore

SACHIN KANODIA,NEW DELHI vs. ITO WARD - 42(2), NEW DELHI

Appeal are dismissed

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

4. Thereafter, the Id. AO issued notice u/s 142(1) dated 19.04.2016 along with detailed questionnaire to the assessee wherein assessee was asked by the Id. AQ to submit details of shares purchased and sold during the year under consideration. 5. In response to the above mentioned notice and questionnaire, the assessee, vide its reply dated 26.09.2017 submitted

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

Appeal of the revenue is dismissed

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 Bighas 15 Biswas\nin village Asola, New Delhi 110074 on 07/12/2015 for\na value of Rs. 100 Crore by the assessee

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

4:\n\n\"1. That the Assessment Unit of Income Tax Department has\ngrossly erred both in law and on facts in making an\nassessment under section 143(3) r.w 1448 of the Act at an\nincome of Rs.6,11,19,987/-and short-term capital loss of (-\n) Rs.1,45,74,040/- as against returned income filed

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

4(1) provides for clubbing of wealth transferred directly or indirectly otherwise than for adequate consideration to the name of the spouse of the 28 | P a g e AY: 2017-18 individual, who is assessed to wealth tax. Thus, by operation of such specific provision permitting clubbing of wealth, the Hon’ble High Court allowed assessee’s claim

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

capital gain. It is ordered accordingly. 7. In the result, the appeal filed by the Revenue is dismissed.” 11. In the case of ADIT Vs. Green Emirate Shipping and Travels (286 ITR 60) (Mum.) vide order dated 30.11.2005, the Co-ordinate Bench of ITAT held as under: “1. The only grievance raised by the Revenue in this appeal

AZIZUL GHANI ,NEW DELHI vs. INCOME TAX OFFICER - ITO WARD 63(3) NEW DELHI, NEW DELHI

In the result, the appeal of the assessee is allowed

Bench: Shri S Rifaur Rahman & Shri Vimal Kumarazizul Ghani Vs. Ito, Ward 63(3) 1407 Pan Mandi E-2, Block, Civic Centre, Sadar Bazar, New Delhi – 110002 Delhi – 110006 "थायीलेखासं./जीआइआरसं./Pan/Gir No: Aajpg7737K Appellant .. Respondent

Capital Gain = 6,47,06,548 (against the assessed figure of 7,01,46,841 or the incorrect revised figure of 5,95,05,940) 5. That the Ld. CIT(A) erred in law and on facts in not appreciating that the proof of construction of the new property was duly submitted during the appellate proceedings in the form

COMMISSIONER OF INCOME TAX

4,71,05,000/-. 20. As regards the alleged undisclosed capital gains on sale of land at Jaipur Highway in the amount of `19,35,769/-, the findings of the CIT (Appeals) can be 2012:DHC:5366-DB ITA Nos.713/2008, 948/2008, 892/2008, 707/2008 & 706/2008 Page 15 of 48 summarised as follows: the capital gains can arise only if property

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

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

PHILLIP KOSHY,DELHI vs. DCIT CENTRAL CIRCLE-29, DELHI

In the result, appeal of the assessee is allowed

Bench: Shri Challa Nagendra Prasad & Dr. B.R.R. Kumarआ.अ.सं/.I.T.A No.415/Del/2022 िनधा"रणवष"/Assessment Year: 2012-13 बनाम Phillip Koshy, Dcit, C/O K B Chandna & Co., E-27, Vs. Central Circle-29, Ndse-Ii, Delhi. Delhi. Pan No. Armpk8500C अपीलाथ" Appellant ""यथ"/Respondent

4 of Assessment Order). ii. The Assessee Purchased plot in 2007 and the Construction agreement was also made in 2007 (At Para 1 of page 1 of Assessment order). iii. Payment for construction was made from 2007 to 2012. iv. Offer of possession was made vide letter dated 20.01.2012 stating that possession of the Villa will be handed over