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

In the result, both the appeals of the assessee are allowed

Bench: Shri M. Balaganesh & Shri Sudhir Kumar

capital gains as an independent source is not exempt from tax automatically. The carry forward of LTCL is governed by the provisions of section 74 of the Act, wherein, there is no embargo provided in the said section with respect to subject mentioned transactions. Hence the LTCL on sale of equity shares and equity oriented mutual funds, per se, would

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

In the result, both the appeals of the assessee are allowed

Bench: Shri M. Balaganesh & Shri Sudhir Kumar

capital gains as an independent source is not exempt from tax automatically. The carry forward of LTCL is governed by the provisions of section 74 of the Act, wherein, there is no embargo provided in the said section with respect to subject mentioned transactions. Hence the LTCL on sale of equity shares and equity oriented mutual funds, per se, would

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)

Capital Gains for the A.Y. 2004-05 and 2007-08 and order passed u/s. 143 (30 A.Y. and 2005-06 order passed u/s. 143 (1) and A.Y. 2008-09 by the order passed by CIT- Appeals. 4. Those provisions of section 234B are not applicable in the case of the appellant. 5

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)

5: Compensation taxable as long-term capital gains is a capital receipt not liable to tax in the hands of the appellant. The amount of Rs.33.55 crores received as compensation could partake the character of long term capital gains since the compensation so received could at 14 best, be attributed to the right/ entitlement of the appellant to the carry

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

The appeals are disposed of

5. After setting off short term capital loss of Rs.89, 459/-on the sale of furniture and fixtures, the short term capital gains was 2012:DHC:2611-DB ITA Nos. 601/2011 & 602/2011 Page 3 of 23 shown as Rs.1,32,32,609/- chargeable under Section

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 :-

5 “I have carefully considered the appellant submissions, judicial pronouncement quoted by the Appellant and Assessment Order. It is a fact on the record that the Ld. Assessing Officer has contended that various expenses like Salary, Administrative, Depreciation etc. shall not be permissible under the head Capital gain as per the provision of Section

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)

5 TC 198) (HL) have held that the word “control and management of affairs wholly situated in India” used in section 6(3) of the Act is equivalent to “central control and management” and would satisfy the requirements of section 6(3) even if a part of the control and management is situated outside India. The contention of the lower

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

5 2 0 Percentag 98.34% 0.70% 0.16% 017% 0.18% 0.15% e of Capital gain to Total capital gain *inclusive of shares of Dabur India Ltd., Punjab Tractors Ltd. and ABN Amro Securities Pvt. Ltd. Total Capital Rs. Long Term Capital Gain claimed exempt u/s. 10(38) 1,06,78,21,147 Long Term Capital Gain on sale of shares

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)

capital gains) as genuine. 9. That on the facts and in the circumstances of the case and in law, Id CIT-A erred in sustaining the action of ld AO in making addition of Rs 64,90,468/- without appreciating spirit of law contained in section 10(38) and section 43(5

ARUN SHUNGLOO TRUST

sections relate to the same subject matter of computation of capital gains on the sale of a capital asset, description of the previous owner and the period of holding of the asset by the assessee.” 2. We have heard the counsel for the parties and thus, proceed to pronounce our decision on the aforesaid substantial question of law. 3. Facts

TELETUBE ELECTRONICS LTD

The appeal of the Assessee is allowed

5) Whether on the facts and circumstances of the case, the ITAT erred in holding that the transaction is chargeable to capital gains under Section

TELETUBE ELECTRONICS LTD

The appeal of the Assessee is allowed

5) Whether on the facts and circumstances of the case, the ITAT erred in holding that the transaction is chargeable to capital gains under Section

SANGEETA DEVI JHUNJHUNWALA,NEW DELHI vs. ITO, WARD-70(1), NEW DELHI

In the result, the appeal of the assessee is partly allowed

Bench: Dr. Brr Kumar & Ms. Astha Chandraasstt. Year: 2015-16

capital gain of Rs. 1,17,14,346/- on sale of shares of M/s. HPC Biosciences Limited which the assessee claimed as exempt under section 10(38) of the Act. She had purchased 20,000 shares on 03.01.2013 at the rate Rs. 5

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

5,75,00,000/- under the bifurcation Land ` 4,72,00,000/- and Building ` 1,03,00,000/-. The capital Gain raised from sale of assets was invested in the Bonds ‘Rural Electrification Corporation Limited’ under section

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

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

capital gain and resultant tax liability in accordance with section 112(1)(c)(iii) of the Act read with Rule 115. 5

CHANDER KALAN,DELHI vs. NEAC, DELHI

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

capital gains tax under section 45 of the I.T. Act, the interest received under section 28 of the Act of 1894 being an accretion to the value, would 8 form part of the compensation and would be exigible to tax under section 45(5

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

section\n28(Via) from A.Y. 2019-20. Prior to it was not taxable. Action\nof learned AO is bad in law and illegal.\n\n4. That the learned AO has also erred in law and on facts in\ndisallowing short term capital loss of Rs.1,45,74,040/- which\nwas set off against long term Capital Gain. Above grounds\nbeing