ARUN SHUNGLOO TRUST

gains arising from the transfer of a capital asset effected in the previous year shall, save as otherwise provided in sections 54, 54B, 54D, 54E

ARUN SHUNGLOO TRUST

gains arising from the transfer of a capital asset effected in the previous year shall, save as otherwise provided in sections 54, 54B, 54D, 54E

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

In the result, the appeal of the assessee is allowed

section 45 of the Act during the relevant period is\nreproduced as under:-\nCapital gains.\n8945. [(1)] Any profits or gains arising from the transfer of a capital\nasset effected in the previous year shall, save as otherwise provided in\nsections 2[***] [54, 54B, 4[***] 95[%[54D, 2\n7[54E

THE COMMISSIONER OF INCOME TAX vs. M/S NALWA INVESTMENT LTD.

Appeals are allowed

Bench: HON'BLE MR. JUSTICE MANMOHAN,HON'BLE MR. JUSTICE SANJEEV NARULA

gains arising from the transfer of a capital asset effected in the previous year shall, save as otherwise provided in sections 54, 54B, 54D, 54E

COMMISSIONER OF INCOME TAX DEL vs. M/S MANSAROVAR INVESTMENTS LTD

Appeals are allowed

Bench: HON'BLE MR. JUSTICE MANMOHAN,HON'BLE MR. JUSTICE SANJEEV NARULA

gains arising from the transfer of a capital asset effected in the previous year shall, save as otherwise provided in sections 54, 54B, 54D, 54E

COMMISSIONER OF INCOME TAX DEL vs. M/S M/S JINDAL EQUIPMENT LEASI

Appeals are allowed

gains arising from the transfer of a capital asset effected in the previous year shall, save as otherwise provided in sections 54, 54B, 54D, 54E

COMMISSIONER OF INCOME TAX DEL vs. M/S ABHUINANDAN INVESTMENTS LT

Appeals are allowed

gains arising from the transfer of a capital asset effected in the previous year shall, save as otherwise provided in sections 54, 54B, 54D, 54E

COMMISSIONER OF INCOME TAX DEL vs. M/S MANSAROVAR INVESTMENTS LTD

Appeals are allowed

gains arising from the transfer of a capital asset effected in the previous year shall, save as otherwise provided in sections 54, 54B, 54D, 54E

SH. DEVENDER KUMAR AGGARWAL,NEW DELHI vs. CIT, NEW DELHI

In the result appeal of the assessee is allowed

Bench: Shri C.M.Garg & Shri Prashant Maharishidevender Kumar Aggarwal, Cit 1533, Ranu Bagh, New Delhi Delhi-Ix, New Delhi Vs. Pan:Aaapa1974F (Appellant) (Respondent)

Section 54E provides for exemption of long term capital gains if the net consideration is invested by the assessee in specified

SANJIV AHUJA,DELHI vs. ITO (INTERNATIONAL TAXATION), DELHI

In the result, the appeal is allowed

Bench: Shri R.K. Pandaasstt. Year 2012-13

capital gains arising on sale of old house, then it would be a hardship on him. Section 54 gives relief from such a hardship. Section 54 gives relief to a taxpayer who sells his residential house and from the sale proceeds he acquires another residential house. The controversy raised by different interpretations by certain 6.5 courts has been

M/S. ONKARESHWAR PROPERTIES (P) LTD.,NEW DELHI vs. ADDL. CIT, NEW DELHI

Bench: Shri Amit Shukla & Shri L.P. Sahu

54E, 54EA, 54EB, 54F, 54G and 54H, be chargeable to income-tax under 'the head "Capital gains", and shall be deemed to be the income of the previous year in which the transfer took place. " 24. As per the above provision, gain arising from transfet of a capital asset is to be taxed under the head capital gain. Further section

RAM MOHAN RAI,NEW DELHI vs. ACIT, NEW DELHI

In the result ground No. 2 and 3 of the appeal of the assessee is allowed

Bench: Shri H.S.Sidhu & Shri Prashant Maharishiram Mohan Rai, Vs. Acit, A-8/25, Vansant Vihar, Circle-33(1), New Delhi New Delhi Pan:Aaapr0728C (Appellant) (Respondent)

gain on transfer of certain capital assets not to be charged in case of investment in residential house'. The common condition both under Section 54E

M/S. SHOURIE DUPLICATORS PVT. LTD.,NEW DELHI vs. ITO, NEW DELHI

In the result, appeal of the assessee is allowed

Bench: Sh. H.S. Sidhu & Sh. O.P. Kantassessment Year: 2006-07 M/S. Shourie Duplicators Vs. Income Tax Officer, Ward- Pvt. Ltd., 16A, Palam Marg, 8(2), New Delhi F-1, Vasant Vihar, New Delhi Gir/Pan :Aaacs0541B (Appellant) (Respondent) Appellant By Sh. K.V.S.R. Krishna, Advocate Respondent By Smt. Anima Barnwal, Sr. Dr Date Of Hearing 28.06.2016 Date Of Pronouncement 29.07.2016 Order Per O.P. Kant, A.M.: This Appeal By The Assessee Is Directed Against The Order Dated 19/12/2011 Of Learned Commissioner Of Income-Tax (Appeals)-Xi, New Delhi For Assessment Year 2006-07. In The Impugned Order, Learned Commissioner Of Income-Tax (Appeals) Has Sustained The Penalty Levied Under Section 271(1)(C) Of The Act By The Assessing Officer. The Grounds Of Appeal Raised By The Assessee Are As Under: “1. The Ld. Cit(A) Ought To Hrave Deleted The Penalty Imposed By The Ao U/S 271(1)(C) Of Rs.28,46,000/- As There Is No Concealment Of Income Or Furnishing Of Inaccurate Particulars Of Income. 2. The Cit(A) Has Failed To Appreciate That The Appellant Has Disclosed The Complete Transaction In The Audited

section 271(1)(c) were clearly attracted in case of the assessee. However, from the facts and circumstances of the case, we find that there was a complete disclosure by the assessee in respect of both the claim of exemption from the capital gain tax and interest income under the head income from other sources. In the computation of income

DCIT, NEW DELHI vs. M/S. ONKARESHWAR PROPERTIES PVT. LTD., NEW DELHI

Bench: Ms. Sushma Chowla & Shri Anadee Nath Misshra

54E, 54EA, 54EB, 54F, 54G and 54H, be chargeable to income-tax under 'the head "Capital gains", and shall be deemed to be the income of the previous year in which the transfer took place. " 24. As per the above provision, gain arising from transfet of a capital asset is to be taxed under the head capital gain. Further section

NILANJAN CHAUDHARI,GURGAON vs. ITO, CIRCLE- 3, GURGAON

In the result, the appeal of the assessee stands allowed

Bench: BEFORE, SHRI M. BALAGANESH (Accountant Member), SHRI ANUBHAV SHARMA (Judicial Member)

54E of the Act in respect of Long Term Capital Gain derived by him when the entire sale consideration has been reinvested by him in the new house property. 3. We have heard the rival submissions and perused the materials available on record. The assessee is a geophysicist and was employed with Cairn Energy Ltd. deriving income from salary, house

M/S RATNA COMMERCIAL ENTERPRISES PVT. LTD.,,NEW DELHI vs. DCIT, NEW DELHI

In the result, appeal of the assessee is allowed

Bench: Shri O.P. Kant & Shri K. Narasimha Chary

section 54E of the Act, the item in question is saved from that deeming provision; (iii) that the legislative history shows that the tax u/s 115J was with reference to the business profit and there is sufficient indication that the provisions was not intended to withdraw the concession granted in respect of computation of capital gains

SMT. NEELAM HANDA,DELHI vs. ITO, NEW DELHI

In the result, appeal of the assessee is allowed

Bench: Smt Diva Singh & Shri Prashant Maharishineelam Handa, Ito, C-7/7, Ground Floor, Ward-20(4), Vs. Model Town-Iii, Delhi New Delhi Pan: Abgph5388D (Appellant) (Respondent)

54E and 54F or section 54, cannot be construed in the same manner. Similar is the position with regard to section 80C or 88 in which for claiming benefit under section 80C or 88 the assessee is required to make certain investment up to a particular limit in certain schemes, as these sections does not talk about the investment

SANJEEV JAIN,SAHARANPUR vs. ITO, SAHARANPUR

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

Bench: Sh. R.K. Pand & Ms. Suchitra Kambleassessment Year: 2013-14

54E of the Income Tax Act, 1961 was claimed. 4 The Assessing Officer has held that neither the purchase nor sale of shares were genuine and that the amount of Rs.1,41,08,484/- stated to have been received by Assessee on sale of shares was undisclosed income and accordingly made addition under section 69 of the Income