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 taxation by the AO 6.1 Broad view of Essar Group Company forming part of Para 11 (page 24-27) ECL the existing arrangement Para 11 (page 23-25) ECOM 6.2 Moving of holding Essar Group in Indian Telecom Para 12 (page 27-33) ECL Business from Onshore to offshore Para 12 (page 26-31) ECOM 6.3 Acquisition

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

58 loss 9 1 1 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

TELETUBE ELECTRONICS LTD

The appeal of the Assessee is allowed

Section 45 of the Act. 2015:DHC:8039-DB ITA Nos. 38 of 2002 & 132 of 2002 Page 27 of 32 51. The ITAT has itself observed that the mere fact that the land and building may not have been used by the lessee or that after expiry of the lease the plant and machinery would have very little value

TELETUBE ELECTRONICS LTD

The appeal of the Assessee is allowed

Section 45 of the Act. 2015:DHC:8039-DB ITA Nos. 38 of 2002 & 132 of 2002 Page 27 of 32 51. The ITAT has itself observed that the mere fact that the land and building may not have been used by the lessee or that after expiry of the lease the plant and machinery would have very little value

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)

section 68 or not. In the case of NR Portfolio, it was held that the genuineness and credibility are deeper and obtrusive. Similarly, the bank statements provided by the assessee to prove the genuineness of the transactions cannot be considered in view of the judgment of Hon'ble court in the case of Pratham Telecom India Pvt. Ltd., wherein

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 45 is that the\nproperty transferred must be a capital asset on the date of\ntransfer and that it is not necessary that it should have been\ncapital asset also on the date of its acquisition by the\nassessee. Thus this decision directly answers the question\nraised and concluded. This has been followed in a subsequent\ndecision reported

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

58,00,000 x (497/426) 1,10,17,241 67,66,667 1,88,00,429 Long-term Capital Gain 2,83,99,571 6. It may be seen from the computation that the assessee computed the capital gains on the sale of land as long term capital gains and having invested the gains in REC Bonds which were eligible

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

capital gains taxation by the AO\n6.1 Broad view of Essar Group Company forming part of\nthe existing arrangement\nPara 11 (page 24-27) ECL\nPara 11 (page 23-25) ECOM\n6.2 Moving of holding Essar Group in Indian Telecom\nBusiness from Onshore to offshore\nPara 12 (page 27-33) ECL\nPara 12 (page 26-31) ECOM\n6.3 Acquisition

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

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:

58,071) (x) Long Term Capital gains as per A.O. = G) - (E) = Rs. 49,40,64,8001- (-) Rs. 11,20,12,407/- = Rs.38,20,52,393/- 12. Thus, the main issue for consideration is adoption of cost of acquisition of shares in computing the capital gains on sale thereof. The assessee has adopted indexed cost of acquisition with reference

VANEET AGGARWAL,NEW DELHI vs. ACIT, CIRCLE-14(2), NEW DELHI

In the result, appeal filed by the assessee is allowed

section 68 or not. In the case of NR\nPortfolio, it was held that the genuineness and credibility are deeper and\nobtrusive. Similarly, the bank statements provided by the assessee to prove\nthe genuineness of the transactions cannot be considered In view of the\nJudgment of Hon'ble court In the case of Pratham Telecom India Pvt. Ltd.,\nwherein

ACIT, CIRCLE- 26(2), DELHI vs. VIC ENTERPRISES PVT. LTD., NEW DELHI

In the result, appeal of the Revenue is dismissed

Bench: N.K. Billaiya & Ms. Astha Chandraasstt. Year: 2014-15

section 143(3) of the Act. 5. Aggrieved thereby, the assessee filed appeal before the Ld. CIT(A). During appellate proceedings also, the assessee filed written submission which has been incorporated by the Ld. CIT(A) in para 5.1 of his order. On consideration thereof, the Ld. CIT(A) held that the impugned income shown

ACIT, CIRCLE-24(1), NEW DELHI vs. SPRING INFRADEV LTD., NEW DELHI

Bench: Shri Yogesh Kumar Us & Shri Brajesh Kumar Singh[Assessment Year:2016-17]

Gains under section 45 of the Income Tax Act, 1961 does not apply on the transfer of capital assets to subsidiary or holding company. The transactions not regard as transfer duly covered under section 47 of the Act. The relevant portion of the section 47 of the Act is as reproduced below:- 47……. ……… (iv) any transfer of a capital asset

M/S MARUTI SUZUKI INDIA LTD.,,NEW DELHI vs. DCIT, NEW DELHI

58,57,202/- in respect of long term capital gain and\nRs.1587,10,65,228/- in respect of short term capital gain which is substantial\nby any standard. Hence, he treated the transaction as the business activity of\nthe assessee. Law is well settled now that intent is required to be examined\nwhether it is for investment or otherwise

HERSH VARDHAN KSHETRY,NOIDA vs. ACIT, CIRCLE INT. TAX. 2(1)(2), NEW DELHI

In the result, the appeal of the assesses in ITA 1876/Del/2023, ITA

Bench: Sh. C.N. Prasad & Sh. Naveen Chandraassessment Year: 2016-17

gains in case of depreciable assets is not applicable to the present proceedings as this section is applicable in cases where depreciable assets in the block of assets are transferred. Shares do not fall in the block of assets and are not depreciable assets and no depreciation is allowed on them. The shares are only investments and capital assets

NINA KSHETRY,NOIDA vs. ACIT, CIRCLE INT.TAX. 2(1)(2), NEW DELHI

In the result, the appeal of the assesses in ITA 1876/Del/2023, ITA

Bench: Sh. C.N. Prasad & Sh. Naveen Chandraassessment Year: 2016-17

gains in case of depreciable assets is not applicable to the present proceedings as this section is applicable in cases where depreciable assets in the block of assets are transferred. Shares do not fall in the block of assets and are not depreciable assets and no depreciation is allowed on them. The shares are only investments and capital assets

SANGITA KSHETRY,NOIDA vs. ACIT,CIRCLE INT.TAX. 2(1)(2), NEW DELHI

In the result, the appeal of the assesses in ITA 1876/Del/2023, ITA

Bench: Sh. C.N. Prasad & Sh. Naveen Chandraassessment Year: 2016-17

gains in case of depreciable assets is not applicable to the present proceedings as this section is applicable in cases where depreciable assets in the block of assets are transferred. Shares do not fall in the block of assets and are not depreciable assets and no depreciation is allowed on them. The shares are only investments and capital assets

DABUR INVEST CORP,NEW DELHI vs. JCIT, RANGE-46, NEW DELHI

In the result, appeals of the Revenue are dismissed and appeal

Bench: Shri Challa Nagendra Prasad & Shri Avdhesh Kumar Mishraिनधा"रणवष"/Assessment Year: 2017-18 बनाम Acit, Dabur Invest Corp., 4Th Floor, Punjab Bhawan, Circle-46(1), Room No.106, Vs. Drum Shape Building, I.P. Estate, New Delhi. New Delhi. Pan No.Aadfd2529D अपीलाथ" Appellant ""यथ"/Respondent िनधा"रणवष"/Assessment Year: 2018-19 बनाम Acit, Dabur Invest Corp., 4Th Floor, Punjab Bhawan, Circle-46(1), Room No.106, Vs. Drum Shape Building, I.P. Estate, New Delhi. New Delhi. Pan No.Aadfd2529D अपीलाथ" Appellant ""यथ"/Respondent िनधा"रणवष"/Assessment Year: 2017-18 बनाम Dabur Invest Corp., Jcit, 4Th Floor, Punjab Bhawan, Vs. Range-46, New Delhi. New Delhi. Pan No.Aadfd2529D अपीलाथ" Appellant ""यथ"/Respondent िनधा"रणवष"/Assessment Year: 2018-19 बनाम Dabur Invest Corp., Jcit, 4Th Floor, Punjab Bhawan, Vs. Range-46, New Delhi. New Delhi. Pan No.Aadfd2529D अपीलाथ" Appellant ""यथ"/Respondent

58. The revenue vehemently argued that assessee is receiving payments annually i.e. year to year, therefore it is an income of the assessee accruing year to year. On the basis of several judicial precedents, the principal emerges that the receipt of a periodic nature or a single receipt is immaterial for the purpose of determining its nature. There