ADIT, NEW DELHI vs. MS. ASHA KUMAR AGGARWAL, NEW DELHI

In the result, the appeal filed the Revenue is dismissed

Bench: Shri H.S. Sidhu & Shri O.P. Kantassessment Year: 2008-09 Adit, Vs. Ms. Asha Kumar Aggarwal, Circle-1(1) (Intl. Taxation), E-335, East Of Kailash, New New Delhi Delhi Pan :Adcpa4605J (Appellant) (Respondent) Appellant By Shri C.P. Singh, Sr. Dr Respondent By Shri R.S. Ahuja, Ca

section 143(2) of the income tax act, 1961 (in short ‘the Act’) was issued and complied with. During the course of assessment proceeding, the Ld. Assessing Officer noticed that the assessee had entered into frequent sale and purchase of shares and therefore he drew a presumption that the assessee was engaged in the business of trading of shares/securities

ACIT, MEERUT vs. M/S. K.S. GUPTA & SONS, MEERUT

In the result, appeal of the revenue is dismissed

Bench: Shri Chandra Mohan Garg & Shri L.P. Sahu

Section 48 of the Act and he will grant statutory deductions/exemptions and re compute the income under the head “Capital Gains as per law. Since I have held that the Income was assessable under the Head “Capital Gains “and not as “Profit and gains of business” the assessee will not be entitled to claim rebate u/s 88E

RADIALS INTERNATIONAL vs. ASSTT. COMMISSIONER OF INCOME TAX

Bench: The Court Is: “Whether, The Shares Invested Through A Portfolio Management 2014:Dhc:2173-Db

capital gains. The assessee also attempted to produce evidence to show that the intention had not been to earn trading profit: first, the investment was undertaken by the assessee with its own surplus funds, and not borrowed funds, and second, that the holding period for a majority of the transactions was substantial. Moreover, the assessee sought to show that

DCIT, NEW DELHI vs. M/S. VICTORY PORTFOLIO LTD., NEW DELHI

The appeal of the assessee is allowed with above direction

Bench: Shri Kuldip Singh & Shri Prashant Maharishivictory Portfolio Ltd, Vs. Dcit, 209, Gupta Towers, Azardpur Circle-17(1), Commercial Complex, New Delhi New Delhi Pan: Aaafv9634K (Appellant) (Respondent) Dcit, Vs. Victory Portfolio Ltd, Circle-17(1), 209, Gupta Towers, Azardpur New Delhi Commercial Complex, New Delhi Pan: Aaafv9634K (Appellant) (Respondent)

Capital Limited as under :- 6. Section 115JB provides that if the tax payable on the total income is less than 7.5% of the book profit, the tax payable under this provision shall be the amount of income tax at the rate of 7.5% of book profit. In other words, if computation of income is done under the provisions

M/S. VICTORY PORTFOLIO LTD.,NEW DELHI vs. DCIT, NEW DELHI

The appeal of the assessee is allowed with above direction

Bench: Shri Kuldip Singh & Shri Prashant Maharishivictory Portfolio Ltd, Vs. Dcit, 209, Gupta Towers, Azardpur Circle-17(1), Commercial Complex, New Delhi New Delhi Pan: Aaafv9634K (Appellant) (Respondent) Dcit, Vs. Victory Portfolio Ltd, Circle-17(1), 209, Gupta Towers, Azardpur New Delhi Commercial Complex, New Delhi Pan: Aaafv9634K (Appellant) (Respondent)

Capital Limited as under :- 6. Section 115JB provides that if the tax payable on the total income is less than 7.5% of the book profit, the tax payable under this provision shall be the amount of income tax at the rate of 7.5% of book profit. In other words, if computation of income is done under the provisions

M/S BLB LTD.,NEW DELHI vs. ACIT, NEW DELHI

The appeal of the assessee is allowed and the appeal

Bench: Shri G.D. Agrawal & Shri Sudhanshu Srivastavam/S Blb Ltd. Vs Acit 4764/23A, Ansari Road, Circle 3(1) Darya Ganj, C.R. Building, I.P. Estate, New Delhi. New Delhi. Aaacb0184H & Acit Vs M/S Blb Ltd. Circle 3(1) 4764/23A, Ansari Road, C.R. Building, I.P. Estate, Darya Ganj, New Delhi. New Delhi. Aaacb0184H

Capital Ltd. 204 Taxman 59 (Kar)(Mag) 6.2.6 The Ld. AR also drew attention to a chart and submitted that on perusal of the chart it would be seen that the book profit is far less than the total income and thus, the provisions of section 115JB do not get triggered and as such, the tax on book profit levied

ACIT, NEW DELHI vs. BLB LTD, NEW DELHI

The appeal of the assessee is allowed and the appeal

Bench: Shri G.D. Agrawal & Shri Sudhanshu Srivastavam/S Blb Ltd. Vs Acit 4764/23A, Ansari Road, Circle 3(1) Darya Ganj, C.R. Building, I.P. Estate, New Delhi. New Delhi. Aaacb0184H & Acit Vs M/S Blb Ltd. Circle 3(1) 4764/23A, Ansari Road, C.R. Building, I.P. Estate, Darya Ganj, New Delhi. New Delhi. Aaacb0184H

Capital Ltd. 204 Taxman 59 (Kar)(Mag) 6.2.6 The Ld. AR also drew attention to a chart and submitted that on perusal of the chart it would be seen that the book profit is far less than the total income and thus, the provisions of section 115JB do not get triggered and as such, the tax on book profit levied

AMBIENCE DEVELOPERS AND INFRASTRUCTURE PRIVATE LIMITED,DELHI vs. PCIT (CENTRAL), DELHI-2 JHANDEWALAN, NEW DELHI, DELHI

capital gains of Respondent\nbut the fact is AO had raised queries and Respondent has\ngiven detailed reply means the AO has passed this order\nafter making necessary inquiries. We agree with the view of\nthe ITAT that the order of the AO cannot be branded as\nerroneous merely because the order does not contain the\ndetails which Principal Commissioner

AMBIENCE DEVELOPERS AND INFRASTRUCTURE PRIVATE LIMITED,DELHI vs. PCIT (CENTRAL) DELHI-2, JHANDEWALAN NEW DELHI, DELHI

capital gains of Respondent\nbut the fact is AO had raised queries and Respondent has\ngiven detailed reply means the AO has passed this order\nafter making necessary inquiries. We agree with the view of\nthe ITAT that the order of the AO cannot be branded as\nerroneous merely because the order does not contain the\ndetails which Principal Commissioner