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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

3 of reasons recorded shows that the assessee has failed to disclose the long-term capital gain/short-term capital gain in the return of income. The learned authorised representative stating the above facts submitted that the reasons recorded are factually incorrect and are having inherent contradictions and lack of application of mind by the learned assessing officer. He further submitted that

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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

3 of reasons recorded shows that the assessee has failed to disclose the long-term capital gain/short-term capital gain in the return of income. The learned authorised representative stating the above facts submitted that the reasons recorded are factually incorrect and are having inherent contradictions and lack of application of mind by the learned assessing officer. He further submitted that

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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

3 of reasons recorded shows that the assessee has failed to disclose the long-term capital gain/short-term capital gain in the return of income. The learned authorised representative stating the above facts submitted that the reasons recorded are factually incorrect and are having inherent contradictions and lack of application of mind by the learned assessing officer. He further submitted that

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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

3 of reasons recorded shows that the assessee has failed to disclose the long-term capital gain/short-term capital gain in the return of income. The learned authorised representative stating the above facts submitted that the reasons recorded are factually incorrect and are having inherent contradictions and lack of application of mind by the learned assessing officer. He further submitted that

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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

3 of reasons recorded shows that the assessee has failed to disclose the long-term capital gain/short-term capital gain in the return of income. The learned authorised representative stating the above facts submitted that the reasons recorded are factually incorrect and are having inherent contradictions and lack of application of mind by the learned assessing officer. He further submitted that

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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

3 of reasons recorded shows that the assessee has failed to disclose the long-term capital gain/short-term capital gain in the return of income. The learned authorised representative stating the above facts submitted that the reasons recorded are factually incorrect and are having inherent contradictions and lack of application of mind by the learned assessing officer. He further submitted that

DCIT, NEW DELHI vs. M/S. PURAN ASSOCIATES PVT. LTD., NEW DELHI

In the result, the appeal of the Revenue is partly allowed for statistical purposes

Bench: Shri Amit Shukla & Shri O.P. Kant

70,962 19,21,580 21 I.T.A. No.3078/Del/2011, 820/Del/2013 & 5054/Del/2015 Percentage of Capital gain to Total capital gain 98.34% 0.70% 0.16% 0.17% 0.18% 0.15% *inclusive of shares of Dabur India Ltd., Punjab Tractors Ltd. and ABN Amro Securities Pvt. Ltd. Total Capital Gain Rs. Long Term Capital Gain claimed exempt u/s.10(38) 1,06,78,21,147 Long Term Capital

ACIT, NEW DELHI vs. M/S. PURAN ASSOCIATES PVT. LTD., NEW DELHI

In the result, the appeal of the Revenue is partly allowed for statistical purposes

Bench: Shri Amit Shukla & Shri O.P. Kant

70,962 19,21,580 21 I.T.A. No.3078/Del/2011, 820/Del/2013 & 5054/Del/2015 Percentage of Capital gain to Total capital gain 98.34% 0.70% 0.16% 0.17% 0.18% 0.15% *inclusive of shares of Dabur India Ltd., Punjab Tractors Ltd. and ABN Amro Securities Pvt. Ltd. Total Capital Gain Rs. Long Term Capital Gain claimed exempt u/s.10(38) 1,06,78,21,147 Long Term Capital

ACIT, NEW DELHI vs. M/S PURAN ASSOCIATES PVT. LTD., NEW DELHI

In the result, the appeal of the Revenue is partly allowed for statistical purposes

Bench: Shri Amit Shukla & Shri O.P. Kant

70,962 19,21,580 21 I.T.A. No.3078/Del/2011, 820/Del/2013 & 5054/Del/2015 Percentage of Capital gain to Total capital gain 98.34% 0.70% 0.16% 0.17% 0.18% 0.15% *inclusive of shares of Dabur India Ltd., Punjab Tractors Ltd. and ABN Amro Securities Pvt. Ltd. Total Capital Gain Rs. Long Term Capital Gain claimed exempt u/s.10(38) 1,06,78,21,147 Long Term Capital

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 gain or loss has been enumerated from sections 48 to 55. Further sub-section (3) of section 70 and section

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 gain or loss has been enumerated from sections 48 to 55. Further sub-section (3) of section 70 and 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)

3,02,05,21,511. The gross consideration was received by the Assessee after deduction of tax at source @ 21.012% i.e., INR 28,21,21,70,693. a. The Assessee, in the return of income itclaimed that the capital gain arising on the sale of aforesaid shares was not chargeable to tax in India by virtue of Article

Commissioner of Income Tax vs. ECE Industries Limited

70,40,396. During the assessment proceedings, the Assessing Officer (AO) noticed that the assessee had sold its Lamp Division at Sonepat to M/s. Osram India (P) Ltd. for `42.50 crores on 09.11.1998. In the computation of capital gain, the assessee showed cost of Lamp Division at `59.33 crores and declared the long term capital loss at `16.83 Crores

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)

section 28(iv) of the Act as 'profits and gains of business and profession', alleging the same to be in lieu of professional/ entrepreneurial services. 4. That the CIT(A) erred on facts and in law in holding (in alternate) that compensation arising for alleged transfer of rights is taxable as short-term capital gains and not long-term capital

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

3) of the tax treaty to hold that treaty benefits\nare not available to the Appellant\n10. erred in holding that the capital gains earned by the Appellant on the\nsale of VEL shares were related to assets located in India in\ntelecommunication sector which derived its value based on the\neconomic activity and value creation in India, without appreciating

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 :-

section 48 of the Act. Therefore we are inclined to decide the issue of claim of administration expenses in favour of the revenue. Ultimately, the assessee may get the benefit of claim of these 12 expenses as business expenditure under the head business income. As such there is no impact for the same in this AY. 14. With regard

SUMITOMO CORPORATION,NEW DELHI vs. DCIT (INTERNATIONAL TAXATION), NEW DELHI

Appeal of the assessee is partly allowed for statistical purpose

Bench: Shri R. K. Panda & Ms Suchitra Kamble(Through Video Conferencing) Sumitomo Corporation Vs Dcit (International Taxation) G-195, Circle-3(1)(2) Sarita Vihar New Delhi New Delhi Aabcs6011P (Appellant) (Respondent)

Section 144C of the Income Tax Act thereby proposing to make following variation to the return income of the assessee:- Particulars Amount (in Rs.) as Amount (in Rs.) as per revised return assessed of income A Business Income Income from -1,27,500 1,27,500 6 various projects as per return of income Add: Income from Nil 3

PURAN ASSOCIATES PVT. LTD.,NEW DELHI vs. ACIT, NEW DELHI

In the result, appeal of the assessee is partly allowed

Bench: Shri Bhavnesh Saini & Shri O.P. Kant, Accountantmember

70,962 19,21,580 loss Percentage 98.34% 0.70% 0.16% 017% 0.18% 0.15% of Capital gain to 11 ITA No. 3785/Del./2017 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