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

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

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

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

capital gains tax liability in India. This circular was a clear enunciation of the provisions contained in the DTAC, which would have overriding effect over the provisions of sections 4 and 5 of the Income- tax Act, 1961 by virtue of section 90

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)

gains by the Revenue authorities. At this stage, it would be quite relevant to refer to the relevant provisions under the Act. First of all, Sub-section (29A) of Section 2, defines 'long term capital asset' to mean a capital assets which is not a short term capital assets. The expression "short term capital asset has been defined

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

COMMISSIONER OF INCOME TAX vs. ANSAL PROPERTIES & INFRASTRUCTURE LTD

The appeals are disposed of

Bench: HON'BLE MR. JUSTICE SANJIV KHANNA,HON'BLE MR. JUSTICE R.V.EASWAR

capital gains tax is not payable as per Section 50 of the Income Tax Act, 1961?‖ 2. As we have heard learned counsel for the parties on the aforesaid question, we proceed to dictate our decision. 3. These appeals under Section 260A of the Income Tax Act, ITA Nos. 601/2011 & 602/2011 Page 2 of 23 1961 (Act, for short) have

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

The appeals are disposed of

capital gains tax is not payable as per Section 50 of the Income Tax Act, 1961?‖ 2. As we have heard learned counsel for the parties on the aforesaid question, we proceed to dictate our decision. 3. These appeals under Section 260A of the Income Tax Act, 2012:DHC:2611-DB ITA Nos. 601/2011 & 602/2011 Page

CIT vs. ANSAL PROPERTIES & INFRASTRUCTURE LTD

The appeals are disposed of

capital gains tax is not payable as per Section 50 of the Income Tax Act, 1961?‖ 2. As we have heard learned counsel for the parties on the aforesaid question, we proceed to dictate our decision. 3. These appeals under Section 260A of the Income Tax Act, 2012:DHC:2611-DB ITA Nos. 601/2011 & 602/2011 Page

COMMISSIONER OF INCOME TAX vs. ANSAL PROPERTIES & INFRASTRUCTURE LTD

The appeals are disposed of

capital gains tax is not payable as per Section 50 of the Income Tax Act, 1961?‖ 2. As we have heard learned counsel for the parties on the aforesaid question, we proceed to dictate our decision. 3. These appeals under Section 260A of the Income Tax Act, 2012:DHC:2611-DB ITA Nos. 601/2011 & 602/2011 Page

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 :-

90,871/- business income Short term Capital Gain treated as Rs. 16,14,264/- business income 2. Disallowance of Capital loss on transfer Rs. 40,60,000/- 73 of shares of PDK Shenaj Hotels Pvt. Ltd 3. Disallowance of all Expenses debited to Rs. 86,04,017/- 58 profit and loss account 4. Disallowance of Donation paid

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

90% of shares in the preceding years as capital gains only and therefore, he was not permitted to treat part of the sale consideration, as capital gains and part of it as business income. (viii) The AO has failed to appreciate that the higher purchase price in the year under consideration was fixed keeping in view the high future earning

M/S. GURU KRIPA AGRO FOODS,HARYANA vs. ITO, KARNAL

In the result, the appeal of the assessee stands partly

Bench: Shri S.V. Mehrotra & Shri Chandra Mohan Garg

90,856/- respectively to first part on account of balance payment payable by them after adjusting their capital account against properties to be given/assigned to them within a period of four months from the date of dissolution and these obligations and accounting entries and transfer of immovable assets took place during F.Y. 2008-09 starting w.e.f 1.4.2008. Therefore, capital gains

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)

90,94,58,648 as agreed in Share Purchase Agreement (SPA) dated 25.11.2011. However, the Assessing Officer had adopted the sale consideration thereof at Rs. 62,56,09,233/-. The Ld. AR demonstrated from the comparative chart placed at page 182 of the paer book and pointed out that while computing capital gain the Assessing Officer had adopted sale consideration

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 earned by Mauritian residents was contrary to the provisions of Article 13(4) of India-Mauritius DTAA. Therefore, the Supreme Court held that the CBDT was correct in issuing the aforesaid circular directing the Assessing Officers that wherever the TRC is issued by the MRA, the benefit of India-Mauritius DTAA is available to the taxpayer

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)

gains from transfer of any long-term capital not being a residential house could claim benefit under the said Section provided, any one of the following three conditions were satisfied; (i) the assessee had within a period of one year before the sale, purchased a residential house; (ii) within two years after the date of transfer of the original capital

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

90 30 to 59 Less than Holding 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 97.48% 03.8% 0.74% 0.32% 0.57% 0.49% to Total Quality Gain

ACIT, NEW DELHI vs. M/S. PURAN ASSOCIATES (P) LTD., NEW DELHI

In the result appeal of the revenue is dismissed

Bench: Shri Amit Shukla & Prashant Maharishi

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

SAKET KANOI,GURGAON vs. DCIT INTL. TAXATION, GURGAON

In the result, the appeal of the assessee is allowed

Bench: Dr. B. R. R. Kumar, Sh. Yogesh Kumar Us

Section 90 of the Act provides as under: 90. (1) The Central Government may enter into an agreement with the Government of any country outside India or specified territory outside India,— (a) for the granting of relief in respect of— (i) income on which have been paid both income- tax under this Act and income-tax in that country