MR. NIKHIL SAWHNEY,NEW DELHI vs. ACIT, NOIDA

In the result, appeal of the assessee is dismissed

Bench: Shri M. Balaganesh & Shri Vimal Kumarmr. Nikhil Sawhney, Vs. Dcit, 17, Sunder Nagar, Central Circle, New Delhi-11003 Noida (Appellant) (Respondent) Pan: Aaups0222Q

gains arising from transfer of a Long term capital asset. Section 2(14) defines "Capital asset" and various exceptions and exclusions have been provided which are not treated as capital asset. Section 45

MR. NIKHIL SAWHNEY,NEW DELHI vs. ACIT, NOIDA

In the result, appeal of the assessee is dismissed

Bench: Shri Bhavnesh Saini & Shri Prashant Maharishimr. Nikhil Sawhney Acit, 17 – Sunder Nagar, Central Circle, Vs. New Delhi – 110 003. Noida. Pan: Aaups0222Q (Appellant) (Respondent)

gains arising from transfer of a Long-term capital asset. Section 2(14) defines "Capital asset" and various exceptions and exclusions have been provided which are not 20 | P a g e treated as capital asset. Section 45

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)

45 read with section 48 of the act , capital gain has to be computed in respect of the ‗full value of the consideration received or accrued‘. The coordinate bench accepted that only consideration agreed between the parties and not any hypothetical fair market value would be taken into consideration for computing capital gains. However, tribunal held that on reading

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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

45 to provide for the computation of 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

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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

45 to provide for the computation of 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

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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

45 to provide for the computation of 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

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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

45 to provide for the computation of 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

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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

45 to provide for the computation of 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

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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

45 to provide for the computation of 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

AMRIT CORP LTD.,GHAZIABAD vs. ADDL. CIT, GHAZIABAD

Appeal stand allowed for statistical purposes

Bench: Shri S.V. Mehrotra & Shri Sudhanshu Srivastavaay: 2007-08 Ay: 2008-09

capital gain’ of Rs. 1,68,93,649/- and ‘business income’ of Rs. 1,32,84,593/- on account of sale of industrial land measuring 7681.458 sq. yards, which was converted into stock in trade during the relevant previous year 2006-07, by applying the provisions of section 45(2

ADDL. CIT, GHAZIABAD vs. M/S AMRIT CORP LTD., GHAZIABAD

Appeal stand allowed for statistical purposes

Bench: Shri S.V. Mehrotra & Shri Sudhanshu Srivastavaay: 2007-08 Ay: 2008-09

capital gain’ of Rs. 1,68,93,649/- and ‘business income’ of Rs. 1,32,84,593/- on account of sale of industrial land measuring 7681.458 sq. yards, which was converted into stock in trade during the relevant previous year 2006-07, by applying the provisions of section 45(2

ADDL. CIT, GHAZIABAD vs. M/S. AMRIT CORP LTD., GHAZIABAD

Appeal stand allowed for statistical purposes

Bench: Shri S.V. Mehrotra & Shri Sudhanshu Srivastavaay: 2007-08 Ay: 2008-09

capital gain’ of Rs. 1,68,93,649/- and ‘business income’ of Rs. 1,32,84,593/- on account of sale of industrial land measuring 7681.458 sq. yards, which was converted into stock in trade during the relevant previous year 2006-07, by applying the provisions of section 45(2

AMRIT CORP LTD.,GHAZIABAD vs. ADDL. CIT, GHAZIABAD

Appeal stand allowed for statistical purposes

Bench: Shri S.V. Mehrotra & Shri Sudhanshu Srivastavaay: 2007-08 Ay: 2008-09

capital gain’ of Rs. 1,68,93,649/- and ‘business income’ of Rs. 1,32,84,593/- on account of sale of industrial land measuring 7681.458 sq. yards, which was converted into stock in trade during the relevant previous year 2006-07, by applying the provisions of section 45(2

TELETUBE ELECTRONICS LTD

The appeal of the Assessee is allowed

45(1) 'capital gains' are any profits or gains arising from the transfer of a capital asset effected in the previous year. When the word „transfer‟ itself has been defined under Section 2

CIT vs. M/S TELETUBE ELECTRONICS LTD

The appeal of the Assessee is allowed

45(1) 'capital gains' are any profits or gains arising from the transfer of a capital asset effected in the previous year. When the word „transfer‟ itself has been defined under Section 2

TELETUBE ELECTRONICS LTD

The appeal of the Assessee is allowed

45(1) 'capital gains' are any profits or gains arising from the transfer of a capital asset effected in the previous year. When the word „transfer‟ itself has been defined under Section 2

Commissioner of Income Tax vs. ECE Industries Limited

2(14) of the Act, the profit arose on transfer of such capital asset is to be treated as long term capital gain. Neither the provisions of Section 50 nor the provisions of Section 50B shall be attracted in the present matter. Rather provisions of Section 45

COMMISSIONER OF INCOME TAX vs. ECE INDUSTRIES LTD.

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

2(14) of the Act, the profit arose on transfer of such capital asset is to be treated as long term capital gain. Neither the provisions of Section 50 nor the provisions of Section 50B shall be attracted in the present matter. Rather provisions of Section 45

MDLR BUILDERS P.LTD,NEW DELHI vs. DCIT, CENTRAL CIRCLE-14, NEW DELHI

In the result, both the appeals filed by the respective assessees are partly allowed for statistical purpose

Bench: Sh. R. K. Panda & Sh. Kuldip Singhassessment Year: 2008-09

gains, then that, income is chargeable at the hands of the firm under this provision. In order to attract sub-section (4) of Section 45, the condition precedent is (1) There should be a distribution of capital assets of a firm; (2