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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

section 143 (1) of the act but there has to be a cogent reason which must exist and the borrowed reasons cannot be a basis for reopening of the assessment proceedings. He submitted that the facts in the case of the assessee are showing that assessee has disclosed long-term capital gain and particulars are shown in the return

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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

section 143 (1) of the act but there has to be a cogent reason which must exist and the borrowed reasons cannot be a basis for reopening of the assessment proceedings. He submitted that the facts in the case of the assessee are showing that assessee has disclosed long-term capital gain and particulars are shown in the return

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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

section 143 (1) of the act but there has to be a cogent reason which must exist and the borrowed reasons cannot be a basis for reopening of the assessment proceedings. He submitted that the facts in the case of the assessee are showing that assessee has disclosed long-term capital gain and particulars are shown in the return

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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

section 143 (1) of the act but there has to be a cogent reason which must exist and the borrowed reasons cannot be a basis for reopening of the assessment proceedings. He submitted that the facts in the case of the assessee are showing that assessee has disclosed long-term capital gain and particulars are shown in the return

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

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

section 143 (1) of the act but there has to be a cogent reason which must exist and the borrowed reasons cannot be a basis for reopening of the assessment proceedings. He submitted that the facts in the case of the assessee are showing that assessee has disclosed long-term capital gain and particulars are shown in the return

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

81 to 364 91 to 180 60 to 90 30 to 59 Less than 365 days days days days days 30 days Quantity of 1,33,65,009* 53,003 1,01,571 43,971 78,813 67,802 Shares Percentage to 97.48% 03.8% 0.74% 0.32% 0.57% 0.49% Total quantity Gain or loss

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

81 to 364 91 to 180 60 to 90 30 to 59 Less than 365 days days days days days 30 days Quantity of 1,33,65,009* 53,003 1,01,571 43,971 78,813 67,802 Shares Percentage to 97.48% 03.8% 0.74% 0.32% 0.57% 0.49% Total quantity Gain or loss

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

81 to 364 91 to 180 60 to 90 30 to 59 Less than 365 days days days days days 30 days Quantity of 1,33,65,009* 53,003 1,01,571 43,971 78,813 67,802 Shares Percentage to 97.48% 03.8% 0.74% 0.32% 0.57% 0.49% Total quantity Gain or loss

COMMISSIONER OF INCOME TAX vs. ECE INDUSTRIES LTD.

Bench: HON'BLE MR. JUSTICE A.K.SIKRI,HON'BLE MR. JUSTICE SURESH KUMAR KAIT

CAPITAL GAIN OF SALE OF LAMP DIVSIION AS PER SECTION 50[2] Sale consideration received on transfer of lamp division at Sonepat ` 42,50,00,000/- WDV of lamp division ` 5,15,75,131/- Less: Value of land ` 17,93,417/- ` 4,97,81

NEELU ANALJIT SINGH,NEW DELHI vs. ADDL.CIT, SPECIAL RANGE-9, NEW DELHI

In the result, appeal filed by the assessee is partly allowed with above directions

Bench: Shri H. S. Sidhu & Shri Prashant Maharishimrs. Neelu Analjit Singh, Vs. The Addl. Commissioner Of 15, Dr. Apj Abdul Kalam Road, Income Tax , New Delhi Special Range-9, Pan: Aatps06882D New Delhi (Appellant) (Respondent)

capital asset if it is held for not more than thirty-six months. However, in the case of share of an unlisted company or a unit of a Mutual Fund specified under clause (23D) of section 10 of the Income-tax Act, which is transferred during the period beginning on 1st April, 2014 and ending on 10th July

Commissioner of Income Tax vs. ECE Industries Limited

CAPITAL GAIN OF SALE OF LAMP DIVSIION AS PER SECTION 50[2] Sale consideration received on transfer of lamp division at Sonepat ` 42,50,00,000/- WDV of lamp division ` 5,15,75,131/- Less: Value of land ` 17,93,417/- ` 4,97,81

MR. SUNIL GOYAL,NOIDA vs. ITO, NEW DELHI

Appeal is disposed of in accordance with the aforesaid directions

Bench: Shri Amit Shukla & Shri Anadee Nath Misshra

Section 143(3) of Income Tax Act, 1961 (“I.T. Act”, for short) was passed on 31.12.2008. In this Assessment Order income amounting to Rs. 1,32,11,569/- offered by the assessee in the return of income as long term capital gain was split into two parts by the Assessing Officer (“AO”, for short). In respect of the first part

MONI KUMAR SUBBA,DELHI vs. ACIT, NEW DELHI

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

Bench: Smt. Diva Singh & Shri O.P. Kantassessment Year: 2006-07 Dcit, Vs. Sh. Moni Kumar Subba, Central Circle-4, New Delhi Subba Farm House, 118, Village Sultanpur, Mehrauli, Gurgaon Road, Delhi Pan :Aasps1484J (Appellant) (Respondent) & Assessment Year: 2006-07 Shri. Moni Kumar Subba, Vs. Acit, Subba Farm House, 118, Central Circle-4, E-2, Ara Village Sultanpur, Mehrauli, Centre, Jhandewalan Extn., Gurgaon Road, Delhi New Delhi Pan :Aasps1484J (Appellant) (Respondent)

section 45 of the Act. 5.22 The next question, which arises in the case, is the amount of sale consideration liable for capital gains. According to Assessing Officer, the amount of security deposit received of Rs. 35 crore is sale consideration received and he apportioned the sale consideration for computation of short-term capital gain and long-term capital gain

DCIT, NEW DELHI vs. SH. MONI KUMAR SUBBA, NEW DELHI

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

Bench: Smt. Diva Singh & Shri O.P. Kantassessment Year: 2006-07 Dcit, Vs. Sh. Moni Kumar Subba, Central Circle-4, New Delhi Subba Farm House, 118, Village Sultanpur, Mehrauli, Gurgaon Road, Delhi Pan :Aasps1484J (Appellant) (Respondent) & Assessment Year: 2006-07 Shri. Moni Kumar Subba, Vs. Acit, Subba Farm House, 118, Central Circle-4, E-2, Ara Village Sultanpur, Mehrauli, Centre, Jhandewalan Extn., Gurgaon Road, Delhi New Delhi Pan :Aasps1484J (Appellant) (Respondent)

section 45 of the Act. 5.22 The next question, which arises in the case, is the amount of sale consideration liable for capital gains. According to Assessing Officer, the amount of security deposit received of Rs. 35 crore is sale consideration received and he apportioned the sale consideration for computation of short-term capital gain and long-term capital gain

KAPIL KUMAR AGARWAL,GURGAON vs. DCIT, GURGAON

Appeal of the assessee is allowed

Bench: Shri Amit Shukla & Shri Prashant Maharishikapil Kumar Agarwal, Vs. Dcit, C/O. Ipsaa House Anm & Circle-1(1), Associates, J021A, Mayfiled Gurgaoon Gardens, Sector-51, Gurgaon Pan: Aacpa2412L (Appellant) (Respondent)

capital gain as exempt from tax under Section 54 of the said Act. 5. The Assessing Officer held that only that part of the construction expenditure incurred after the sale of the original asset would be eligible for exemption under Section 54 of the said Act and based on records held that cost of construction incurred after the sale

BHUPINDER SINGH JULKA,NEW DELHI vs. ACIT, CIRCLE-INT. TAX. 2(1)(2), DELHI

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

Bench: Shri Kul Bharat & Shri M. Balaganesh

Section 143(3)/ 144C(13) of the Act. 2. That the learned AO/ DRP has further erred both in law and on fact in making an addition of Rs. 3,37,202/- representing alleged short term capital gain as against claim of long term capital loss of Rs. 81

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)

81-87 ECL/ECOM in HEL/VEL - Facts showing that Applicant Companies have no decision making power 8 (VI) Various Put and Call Option Agreements with Vodafone 88-93 Group -showing lack of separate identity of the Applicant Companies 9 (VII) Ultimate beneficiary Factual Matrix 94-102 - Ruia Family to be the ultimate beneficiary and controlling and managing the affairs

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)

81,438. 3.4 Without prejudice above, the Ld. AO/DRP has erred in adopting incorrect the conversion rate (from INR to JPY) for sales consideration resulted into higher addition in capital gain. 3.5 Without prejudice above, the Ld. AO/DRP as provided under statute was required to adopt Telegraphic Transfer Buying Rate to convert the capital gain (from JPY to INR) whereas