SAT SAHIB SECURITIES PVT. LTD.,DELHI vs. DCIT, CIRCLE-7(1), NEW DELHI

In the result the appeal of the assessee is allowed

Bench: Sh. S. Rifaur Rahman & Sh. Sudhir Kumarassessment Year: 2006-07 M/S. Sat Sahib Securities Pvt. Vs Dcit Ltd. Pvt. Ltd., B-129, Anand Circle – 7 (1) Vihar, New Delhi-110092 New Delhi Pan No.Aabcs2456G (Appellant) (Respondent)

1) No Capital 51-53 Gain Gain Gain Appeal 20006-07 Capital Business 143(3) Capital Capital 57-66 Gain Gain income Gain 2007-08 Capital Capital 143(3) No Capital 54-56 Gain Gain Gain appeal 2008-09 Capital Business 143(3) Capital Capital 67-75 Gain Gain income Gain 2010-11 Capital Business 143(3) Capital Capital

DCIT, NEW DELHI vs. M/S. TECHNIP FRANCE SAS, GURGAON

In the result, appeal is dismissed

Bench: Shri G.S. Pannu, Hon’Ble & Shri Saktijit Dey, Judicialmember Assessment Year: 2011-12

9(1) of the Act would cover rendering of service like imparting of training and carrying out drilling operations for exploration of and extraction of oil and natural gas and hence payments made under such agreement to a non-resident/foreign company would be chargeable to tax under the provisions of Section 44BB and not Section

SUPERB MIND HOLDING LTD. ,NEW DELHI vs. ACIT CIRCLE INT TAX 3(1)(2), NEW DELHI

In the result, appeal of the assessee is allowed

Bench: Shri G.S. Pannu, Hon’Ble & Shri Challa Nagendra Prasadआ.अ.सं/.I.T.A No.1568/Del/2022 िनधा"रणवष"/Assessment Year: 2018-19

section 9(1)(i) of the Act, capital gain arising through or from the transfer of a capital asset situated

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)

1. erred in holding that the capital gains earned by the Appellant on the sale of Vodafone Essar Limited (VEL') shares by the Appellant to Euro Pacific Securities Limited ('EPSL') are taxable in India; Holding that the Appellant was tax resident of India and that its control and management is situated wholly in India 2. erred in treating the Appellant

ARUN SHUNGLOO TRUST

9 of 15 “indexed cost of acquisition” and “indexed cost of improvement” in the case of capital assets where Section 49 applies. This cannot be the intention behind the enactment of Section 49 and its Explanation to Section 48. There is no reason or ground why the legislative would want to deny or deprive an assessee benefit/advantage of the previous

ITO,WARD-30(1), NEW DELHI vs. VINOD GUGNANI, NEW DELHI

In the result, grounds of Appeal of the Revenue fails, consequently the Appeal filed by the Revenue is dismissed

Bench: Shri B. R. R. Kumar & Sh. Yogesh Kumar U.S.

capital gain account deposit was delayed by 31 days. Therefore not eligible for deduction under Section 54(1) of the Act. 9

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)

gains and was in effect a capital receipt. The relevant extracts of the judgement are reproduced hereunder: "7. We are, therefore, left with the question as to whether the right to claim damages in the instant case is a 'property of any kind and thus, a 'capital asset' under section 2(14)of the Act. The further question

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 which is a loss, the assessee shall be entitled to have the amount of such loss set off against his income from any other source under the same head. We have noticed that in the instant case the exclusion has been conceded in computing the business income or the source of income from the head of business

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 which is a loss, the assessee shall be entitled to have the amount of such loss set off against his income from any other source under the same head. We have noticed that in the instant case the exclusion has been conceded in computing the business income or the source of income from the head of business

ARYA SMAJ MODEL TOWN,DELHI vs. PCIT, CENTRAL -3, NEW DELHI

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

gains of\nbusiness which is not incidental to the attainment of its objectives or\nseparate books of account are not maintained by such trust or\ninstitution in respect of the business which is incidental to the\nattainment of its objectives; or\n\n(c) The trust or institution has applied any part of its income from\nthe property held under

ITA Nos. 601/2011 & 602/2011 vs. ANSAL PROPERTIES & INFRASTRUCTURE LTD.

The appeals are disposed of

9 of 23 actual cost of any asset falling within that block of assets, acquired by the assessee during the previous year and the income received or accruing as a result of such transfer or transfers shall be deemed to be the capital gains arising from the transfer of short-term capital assets. 13. The expression ―block of assets‖ means

NIKESH ARORA,GURGAON vs. DCIT, INTERNATIONAL TAXATION, GURGON

In the result, appeal is allowed in the terms indicated above

Bench: We Proceed To Deal With The Substantive Issues Arising

section 9(1) of the Act, capital gain through the transfer of a capital asset situated in India is deemed

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 Income Tax Act, 1961 and only following expenses are eligible to be deducted from the Income Tax Act, 1961 under the head capital gains: 1. Which are incurred wholly and exclusively in connection with the transfer of the Capital assets and 2. The cost of acquisition of the asset and the cost of any improvement thereto

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

9\n(page 21-23) ECOM\n6.\nFacts and circumstances leading to the conclusion of 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

SANGEETA DEVI JHUNJHUNWALA,NEW DELHI vs. ITO, WARD-70(1), NEW DELHI

In the result, the appeal of the assessee is partly allowed

Bench: Dr. Brr Kumar & Ms. Astha Chandraasstt. Year: 2015-16

1,17,14,346/- which the assessee claimed as exempt under section 10(38) of the Act. 11. It is in the backdrop of the above factual matrix that we have to consider the assessee’s claim of earning the impugned long term capital gain and exemption thereof under section 10(38) of the Act. It is an admitted position

TELETUBE ELECTRONICS LTD

The appeal of the Assessee is allowed

1) Whether on the facts and circumstances of the case, the Tribunal was right in law in holding that lease for a period of ten years of plant and machinery along with land and building was a capital asset within the meaning of section 2 (14) of the Act? (2) Whether on the facts and circumstances of the case

TELETUBE ELECTRONICS LTD

The appeal of the Assessee is allowed

1) Whether on the facts and circumstances of the case, the Tribunal was right in law in holding that lease for a period of ten years of plant and machinery along with land and building was a capital asset within the meaning of section 2 (14) of the Act? (2) Whether on the facts and circumstances of the case

RICHMOND EDUCATIONAL SOCIETY,NOIDA vs. DCIT/ACIT CENTRAL CIRCLE, GHAZIABAD, GHAZIABAD

In the result, the appeal of the Assessee is allowed

section 10 of the Act that where a reference,\nunder the first proviso to sub-section (3) of section 143, has been made on or before\nthe 31st March, 2022 by the Assessing Officer for the contravention of certain\nprovisions of clause (23C) of section 10 of the Act, such references shall be dealt with\nin the manner provided under