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

ACIT, NEW DELHI vs. M/S. KCT PAPERS LTD., NEW DELHI

In the result, grounds raised by the revenue are dismissed

Bench: Shri S.Rifaur Rahman & Shri Anubhav Sharmaacit, Circle 5 (1) Vs. M/S. Kct Papers Limited, New Delhi. Thapar House, 124, Janpath, New Delhi – 110 001. (Pan : Aacck4937D) (Appellant) (Respondent) Assessee By : Shri Rohit Jain, Advocate Shri Deepesh Jain, Advocate Shri Tavish Verma, Advocate Revenue By : Shri Kailash Dan Ratnoo, Cit Dr Date Of Hearing : 10.09.2025 Date Of Order : 05.12.2025 O R D E R Per S.Rifaur Rahman: 1. This Appeal Is Filed By The Assessee Against The Order Of Ld. Commissioner Of Income-Tax (Appeals)-Viii, New Delhi [Hereinafter Referred To As ‘Ld. Cit (A)] Dated 21.03.2014For Assessment Year 2008-09. 2. Brief Facts Of The Case Are, The Assessee Company Belongs To The Thapar Group Established By Late Lala Karam Chand Thapar. There Was A Family Settlement Between The Various Constituents Of The Karam Chand Thapar Family As A Result Of Which Revenue-Organization/Restructuring Of The Group Dated 27Th April, 2001. The Re April, 2001. The Re-Organization Of The Group Companies & Trusts Organization Of The Group Companies & Trusts Was Made Into Four Groups, As Under, Each Headed By The Sons Of Late Lala Was Made Into Four Groups, As Under, Each Headed By The Sons Of Late Lala Was Made Into Four Groups, As Under, Each Headed By The Sons Of Late Lala K.C. Thapar. The Family Tree Of Karam Chand T K.C. Thapar. The Family Tree Of Karam Chand Thapar Family Is Explained As Hapar Family Is Explained As Under In The Form Of A Diagrammatic Chart: Under In The Form Of A Diagrammatic Chart:

1,83,39,832) indexed cost of Rs.7,33,59,328} Long term capital gains offered to tax 3,36,25,904 40. In this regard, it is respectfully submitted that aforesaid long-term capital gains were computed by the assessee by taking cost to MAL & KCTBL as its cost of acquisition as per section 49

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

The appeals are disposed of

sections 48 and 49 shall be subject to the following modifications:-- (1) where the full value of the consideration received or accruing as a result of the transfer of the asset together with the full value of such consideration received or accruing as a result of the transfer of any other capital asset falling within the block of assets during

ARYA SMAJ MODEL TOWN,DELHI vs. PCIT, CENTRAL -3, NEW DELHI

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

gains of\nbusiness which is not incidental to the attainment of its objectives or\nseparate books of account are not maintained by such trust or\ninstitution in respect of the business which is incidental to the\nattainment of its objectives; or\n\n(c) The trust or institution has applied any part of its income from\nthe property held under

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

1 of 2023 and\nHomble Supreme Court on Azadi Bachao andolan\nmandate that the residential status deciding the\ntaxability governed by findings of facts\nPara 49 (page 180-181) ECL\nPara 49 (page 176-177)\nECOM\n12. Testing of residential status by the CIT(A) through\nexamination of the concept of control and\nmanagement of affairs under the factual matrix

TELETUBE ELECTRONICS LTD

The appeal of the Assessee is allowed

1 to Section 2 (47) in order to arrive at the conclusion there was indeed a 'transfer' of a capital asset brought about by the lease agreement in question. 44. The AO, the CIT (A) and the ITAT have relied on the decisions in Traders and Miners Ltd. (supra), A.R. Krishnamurthy (supra) and CIT v. Narang Diary Products

TELETUBE ELECTRONICS LTD

The appeal of the Assessee is allowed

1 to Section 2 (47) in order to arrive at the conclusion there was indeed a 'transfer' of a capital asset brought about by the lease agreement in question. 44. The AO, the CIT (A) and the ITAT have relied on the decisions in Traders and Miners Ltd. (supra), A.R. Krishnamurthy (supra) and CIT v. Narang Diary Products

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

49(2AA) and section 17(2)(vi) of the Act is futile. 18. Learned Departmental Representative submitted, the date of acquisition of shares cannot be taken to be the Second Employment Agreement executed on 17.12.2014 as it is merely a draft agreement. He submitted, from the Third Employment Agreement executed on 20.05.2015 till the date of its transfer

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 90(1) of IT Act which is reproduced below: "90(1) The Central Government may enter into an agreement with the Government of any country outside India or specified territory outside India,- (a) for the granting of relief in respect of- (i) income on which have been paid both income-tax under this Act and income-tax in that

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

Capital Gain/Short Term Capital Loss or any other sham transactions. " Similarly, the clarification for unlisted shares states: "It is, however, clarified that the above would not be necessarily applied in the situation where: (i) the genuineness of the transaction in unlisted shares itself is questionable; or (ii) the transfer of unlisted shares is related to an issue pertaining to lifting

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

Capital Gain/Short Term Capital Loss or any other sham transactions. " Similarly, the clarification for unlisted shares states: "It is, however, clarified that the above would not be necessarily applied in the situation where: (i) the genuineness of the transaction in unlisted shares itself is questionable; or (ii) the transfer of unlisted shares is related to an issue pertaining to lifting

COMMISSIONER OF INCOME TAX-IV vs. M/S. I. K. INTERNATIONAL PVT. LTD

capital gains are exempt under Section 54EC of the Act. 17. We are fortified in our conclusion by the judgment of the Madras High Court in CIT v. Dr. D. L. Ramachandra Rao, (1999) 236 ITR 1 and that of the Bombay High Court in CIT v. Citibank N.A., (2003) 261 ITR 570. We may also notice the judgment

ARUN DWIVEDI,NEW DELHI vs. ACIT, CIRCLE-9(2), NEW DELHI

In the result, the appeal of the assessee is allowed

49 of the paper book.\nAs per the details available on record, the property at N-1 Kailash Colony,\nNew Delhi was owned by Shri Shyama Pada Banerjee who according to\nthe assessee was sold by Shri Shyama Pada Banerjee to the assessee vide\nagreement to sell / 'Receipt' dated 21.02.2005 for a total consideration of\nRs.68,00,000/-(placed

DCIT, CIRCLE 22(2), NEW DELHI, NEW DELHI vs. SAHIL VACHANI, DELHI

Appeal of the Revenue stands dismissed

Bench: Shri Mahavir Singh, Vice Presdient (), Shri Vikas Awasthy& Shriavdhesh Kumar Mishraआअसं.2604/िद"ी/2023(िन.व. 2016-17)

49 (SC); Jeevan Lal Sah 205 ITR 244 (SC) and K.P.Madhusudanan 251 ITR 99(SC), it is well established that whenever there is difference between the returned and assessed income, there is inference of concealment. The explanation 1 to section 271(1)(c) of the Act raises a presumption that can be rebutted by the assessee with reference to facts

CHANDER KALAN,DELHI vs. NEAC, DELHI

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

49. As discussed hereinabove, Section 23(1-A)provides for additional amount. It takes care of the increase in the value at the rate of 12% per annum. Similarly, under Section 23(2) of the 1894 Act there is a provision for solatium which also represents part of the enhanced compensation. Similarly, Section 28 empowers the court in its discretion

(Now known as Sony India Limited)

49 of 142 being: the price paid or charged for an international transaction has not been determined in accordance with sub-sections (1) and (2); information or documents relating to an international transaction has not been kept or maintained in accordance with the provisions of Section 92D(1) or the Rules; information or data used in computation

SMT. RITU SINGH,DELHI vs. ITO, NEW DELHI

In the result, appeal of the assessee is allowed

Bench: Shri Shamim Yahya & Ms. Astha Chandraasstt. Year: 2012-13

49,116/- (Rs. 33,21,868/- - 21,72,752/-) not deposited in capital gain account before the due date of filing return under section 139(1

DEEPAK KATHARI,KANPUR vs. ACIT, CC-5, NEW DELHI

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

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

1) The Ld. CIT(A) erred in deleting the addition of Rs.8,36,25,157/- made on account of Long Term Capital Gain. 2) The Ld. CIT(A) has ignored the fact that the assessee has not determined the capital gain per the Income Tax Act considering the handing over the possession of the property to the buyer