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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

capital gains in respect of securities held in dematerialized form. This sub-section provides that for the purposes of section 48 and proviso to clause (42A) of Section 2 of the act, the cost of acquisition and period of holding of any securities shall be determined on the basis of the FIFO method. 7.6 It may be relevant to reproduce

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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

capital gains in respect of securities held in dematerialized form. This sub-section provides that for the purposes of section 48 and proviso to clause (42A) of Section 2 of the act, the cost of acquisition and period of holding of any securities shall be determined on the basis of the FIFO method. 7.6 It may be relevant to reproduce

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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

capital gains in respect of securities held in dematerialized form. This sub-section provides that for the purposes of section 48 and proviso to clause (42A) of Section 2 of the act, the cost of acquisition and period of holding of any securities shall be determined on the basis of the FIFO method. 7.6 It may be relevant to reproduce

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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

capital gains in respect of securities held in dematerialized form. This sub-section provides that for the purposes of section 48 and proviso to clause (42A) of Section 2 of the act, the cost of acquisition and period of holding of any securities shall be determined on the basis of the FIFO method. 7.6 It may be relevant to reproduce

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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

capital gains in respect of securities held in dematerialized form. This sub-section provides that for the purposes of section 48 and proviso to clause (42A) of Section 2 of the act, the cost of acquisition and period of holding of any securities shall be determined on the basis of the FIFO method. 7.6 It may be relevant to reproduce

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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

capital gains in respect of securities held in dematerialized form. This sub-section provides that for the purposes of section 48 and proviso to clause (42A) of Section 2 of the act, the cost of acquisition and period of holding of any securities shall be determined on the basis of the FIFO method. 7.6 It may be relevant to reproduce

ACIT, NEW DELHI vs. M/S PURAN ASSOCIATES PVT. LTD., NEW DELHI

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

Bench: Shri Amit Shukla & Shri O.P. Kant

Section 2 of the Income-tax Act, 1961 (Act') defines the term "capital asset" to include property of any kind held by an assessee, whether or not connected with his business or profession, but does not include any stock-in-trade or personal assets subject to certain exceptions. As regards shares and other securities, the same can be held either

ACIT, NEW DELHI vs. M/S. PURAN ASSOCIATES PVT. LTD., NEW DELHI

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

Bench: Shri Amit Shukla & Shri O.P. Kant

Section 2 of the Income-tax Act, 1961 (Act') defines the term "capital asset" to include property of any kind held by an assessee, whether or not connected with his business or profession, but does not include any stock-in-trade or personal assets subject to certain exceptions. As regards shares and other securities, the same can be held either

DCIT, NEW DELHI vs. M/S. PURAN ASSOCIATES PVT. LTD., NEW DELHI

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

Bench: Shri Amit Shukla & Shri O.P. Kant

Section 2 of the Income-tax Act, 1961 (Act') defines the term "capital asset" to include property of any kind held by an assessee, whether or not connected with his business or profession, but does not include any stock-in-trade or personal assets subject to certain exceptions. As regards shares and other securities, the same can be held either

COMMISSIONER OF INCOME TAX vs. ECE INDUSTRIES LTD.

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

CAPITAL GAIN OF SALE OF LAMP DIVSIION AS PER SECTION 50[2] Sale consideration received on transfer of lamp division at Sonepat ` 42

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

Commissioner of Income Tax vs. ECE Industries Limited

CAPITAL GAIN OF SALE OF LAMP DIVSIION AS PER SECTION 50[2] Sale consideration received on transfer of lamp division at Sonepat ` 42

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

capital gains arising from sale of shares would not be taxable in India. It is not in dispute that Circular No.789 dated 13th April 2000 continued to be in force between India and Mauritius at the relevant time. 40. A press release dated 1st March 2013 from the Finance Ministry which is quoted as under also unequivocally declares that

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

capital gains which is not so. 6. In any case section 28 (va) deals with entirely different subject Page 14 of 42

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

The appeal are dismissed

Bench: Shri Satbeer Singh Godara & Shri S. Rifaur Rahman

capital assets and the same is evident from the note no. 10 of audited financial statement for the year ended 31st March 2019 as can be seen from Copy of audited financial statement is enclosed at page no. 42 to 62 5 Page ITA No. 1036/Del/2024 of paper book. These facts along with explanation were put forth before

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 48 of the Income Tax Act, 1961 and only following expenses are eligible to be deducted from the Income Tax Act, 1961 under the head capital gains: 1. Which are incurred wholly and exclusively in connection with the transfer of the Capital assets and 2. The cost of acquisition of the asset and the cost of any improvement thereto

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

section 142A of the Income Tax Act, and as such the addition of Rs. 46,74,280/- on account of capital gain u/s 45(4) made by the LD AO and confirmed by CIT(A) is not acceptable and may please be deleted. 3 5. That the Ld CIT(A) has erred in law while confirming the adhoc addition

KAPIL KUMAR AGARWAL,GURGAON vs. DCIT, GURGAON

Appeal of the assessee is allowed

Bench: Shri Amit Shukla & Shri Prashant Maharishikapil Kumar Agarwal, Vs. Dcit, C/O. Ipsaa House Anm & Circle-1(1), Associates, J021A, Mayfiled Gurgaoon Gardens, Sector-51, Gurgaon Pan: Aacpa2412L (Appellant) (Respondent)

gains from transfer of any long-term capital not being a residential house could claim benefit under the said Section provided, any one of the following three conditions were satisfied; (i) the assessee had within a period of one year before the sale, purchased a residential house; (ii) within two years after the date of transfer of the original capital