ADDI CHARITABLE TRUST,NEW DELHI vs. CIT EXEMPTION, DELHI

In the result, the appeal of Revenue is partly allowed as boave for statistical purpose

Bench: Shri Yogesh Kumar U.S. & Shri Avdhesh Kumar Mishra

Section 94(7) can only be applicable on the short term capital loss. However, the issue we are dealing is of long term capital gains

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)

7 (V) Loan availed by Group based on the security of ownership of 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

COMMISSIONER OF INCOME TAX-IV vs. M/S. I. K. INTERNATIONAL PVT. LTD

7,25,00,000/- Less: WDV of the assets sold: ` 2,94,59,400/- ` 4,30,40,600/-” 10. The aforesaid amount of ` 4,30,40,600/- was brought to tax as short term capital gains computed under Section

PRAVEEN RANJAN SINHA,GURGAON vs. DCIT, CIRCLE-3(1), GURGAON, GURGAON

In the result, the appeal of the assessee is allowed and Stay Application of the assessee is dismissed as infructuous

Bench: Shri Kul Bharat & Shri M. Balaganeshpraveen Ranjan Sinha, Vs. Dcit, Icb 141, The Icon, Dlf Circle-3(1), City, Phase-V, Gurgaon, Gurgaon Haryana (Appellant) (Respondent) Pan: Ardps3000N Sa No. 57/Del/2024 (In Ita No. 399/Del/2024) (Assessment Year: 2015-16) Praveen Ranjan Sinha, Vs. Dcit, Icb 141, The Icon, Dlf Circle-3(1), City, Phase-V, Gurgaon, Gurgaon Haryana (Appellant) (Respondent) Pan: Ardps3000N Assessee By : Shri Sudesh Garg, Adv Ms. Bhavya Garg, Adv Revenue By: Shri Dharambir Singh, Cit Dr Date Of Hearing 08/04/2024 Date Of Pronouncement 08/07/2024

capital gains income is an "abuse of law" cannot be affirmed. 32. We may also refer to section 94(8) of the Act, which has been inserted by the Finance (No.2) w.e.f. 01.04.2005, and it provides that loss arising on bonus stripping of units is to be ignored after 01.04.2005. The phraseology of section 94(8) of the Act itself

MARUTI SUZUKI INDIA LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, all the three appeals of the assessee are allowed as indicated above and the appeal of Revenue is partly allowed

Bench: Shris.Rifaur Rahman & Shri Vimal Kumar

Capital Gain/Short Term Capital Loss or any other sham transactions. " Similarly, the clarification for unlisted shares states: "It is, however, clarified that the above would not be necessarily applied in the situation where: (i) the genuineness of the transaction in unlisted shares itself is questionable; or (ii) the transfer of unlisted shares is related to an issue pertaining to lifting

DCIT, NEW DELHI vs. M/S. MARUTI SUZUKI INDIA LTD., NEW DELHI

In the result, all the three appeals of the assessee are allowed as indicated above and the appeal of Revenue is partly allowed

Bench: Shris.Rifaur Rahman & Shri Vimal Kumar

Capital Gain/Short Term Capital Loss or any other sham transactions. " Similarly, the clarification for unlisted shares states: "It is, however, clarified that the above would not be necessarily applied in the situation where: (i) the genuineness of the transaction in unlisted shares itself is questionable; or (ii) the transfer of unlisted shares is related to an issue pertaining to lifting

VANEET AGGARWAL,NEW DELHI vs. ACIT, CIRCLE-14(2), NEW DELHI

In the result, appeal filed by the assessee is allowed

94 taxmann.com\n324 (Guj.)\n\nSeveral other decisions of different High Courts on the same point are as\nunder:-\n\n1) Where shares were purchased by assessee on floor of stock exchange\nand not from broker, payment was made through banking channel,\ndeliveries were taken in DEMAT account where shares remained for more\nthan one year, contract notes were issued

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.

94,441/- for construction of new house. Ld. AO denied the claim under section 54(1) of the Act made by the assessee on the ground that the amount remained uninvested till 05.08.2016 which was due date of filing the ITR under section 139(1) of the Act. The capital gain account deposit was delayed by 31 days. Therefore

MODI RUBBER LTD.,NEW DELHI vs. ACIT, CIRCLE- 17(1), NEW DELHI

In the result, Ground no.2 is partly allowed

Bench: Shri Saktijit Dey- & Shri Pradip Kumar Kedia-

7 expression full value of consideration received or accruing under Section 48 of the Act and thus could not be subjected to tax as income for the year under consideration. The ld. counsel asserted that the Escrow amount was kept and earmarked for the appropriation against the claim to be raised by the Continental Group. Such Escrow amount could

SAIF PARTNERS INDIA IV LIMITED ,DELHI vs. ACIT INT. TAXATION-3(1)(2), DELHI

In the result, the appeal of the assessee in ITA No

Bench: Shri N.K. Billaiya & Shri Anubhav Sharma

7. As stated above, the Company has no business operations in India and holds no bank account in India. During the relevant AY, the Company received (i) payment with respect to share transfer and (ii) dividend income from India. Since the Company has no bank account in India, the aforesaid payments were remitted to foreign bank account of the Company

ACIT, NEW DELHI vs. M/S. KCT PAPERS LTD., NEW DELHI

In the result, grounds raised by the revenue are dismissed

Bench: Shri S.Rifaur Rahman & Shri Anubhav Sharmaacit, Circle 5 (1) Vs. M/S. Kct Papers Limited, New Delhi. Thapar House, 124, Janpath, New Delhi – 110 001. (Pan : Aacck4937D) (Appellant) (Respondent) Assessee By : Shri Rohit Jain, Advocate Shri Deepesh Jain, Advocate Shri Tavish Verma, Advocate Revenue By : Shri Kailash Dan Ratnoo, Cit Dr Date Of Hearing : 10.09.2025 Date Of Order : 05.12.2025 O R D E R Per S.Rifaur Rahman: 1. This Appeal Is Filed By The Assessee Against The Order Of Ld. Commissioner Of Income-Tax (Appeals)-Viii, New Delhi [Hereinafter Referred To As ‘Ld. Cit (A)] Dated 21.03.2014For Assessment Year 2008-09. 2. Brief Facts Of The Case Are, The Assessee Company Belongs To The Thapar Group Established By Late Lala Karam Chand Thapar. There Was A Family Settlement Between The Various Constituents Of The Karam Chand Thapar Family As A Result Of Which Revenue-Organization/Restructuring Of The Group Dated 27Th April, 2001. The Re April, 2001. The Re-Organization Of The Group Companies & Trusts Organization Of The Group Companies & Trusts Was Made Into Four Groups, As Under, Each Headed By The Sons Of Late Lala Was Made Into Four Groups, As Under, Each Headed By The Sons Of Late Lala Was Made Into Four Groups, As Under, Each Headed By The Sons Of Late Lala K.C. Thapar. The Family Tree Of Karam Chand T K.C. Thapar. The Family Tree Of Karam Chand Thapar Family Is Explained As Hapar Family Is Explained As Under In The Form Of A Diagrammatic Chart: Under In The Form Of A Diagrammatic Chart:

94,06,480/- (vii) F represents the Indexed cost of acquisition of shares of Billarpur Industries Ltd. with reference to the period of holding of previous owners = Rs.72,79,22,871/- (viii) G represents the full value consideration received on buy back of shares of Billarpur Industries Ltd. = Rs.49,40,64,800/- (ix) Long Term Capital gains as per assessee

SUMEET DHIMAN,PUNJAB vs. ACIT, CIRCLE-4(1), GURGAON

In the result, the Appeal filed by the assessee is dismissed

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

94,64,206/- was filed on 31/07/2014. The Assessing Officer noted that during the under consideration, the appellant had sold a residential property for an amount of Rs. 1,10,00,000/- on which the assessee had earned capital gain amounting to Rs. 76,64,058/-. The Assessing Officer further noted that the assessee had claimed deduction

BIGSTAR HOTELS RESORTS PVT. LTD.,NEW DELHI vs. ITO WARD 5(1), NEW DELHI

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

gain in accordance with the provisions of section 50CA of the Act, one has to follow the provision of Rule 11UA of I.T. Rules.\n14. In the present case, the assessee has obtained the valuation report from the merchant banker where the FMV was determined at net asset value as provided in Rule 11UA(1)(c)(d) of the Rules

DCIT, CC, GZBD , GZBD vs. ANJALI MITTAL , GZBD

In the result, appeal of the Revenue is dismissed

Bench: Shri Shamim Yahya & Ms. Astha Chandraasstt. Year: 2018-19 Dy. Commissioner Of Vs. Smt. Anjali Mittal, Income Tax, B-7, Ashok Nagar, Central Circle, Ghaziabad-201 001. Ghaziabad. Pan Aigpm4257R (Appellant) (Respondent)

section 54F(1)(b) of IT Act shall apply and thus the exempt value of capital gain shall be computed as under: Capital Gain * Cost of new asset / Net sale consideration of old asset = 28,94,757 * 28,31,600 / 58,50,000 = 14,01,161/- Therefore the taxable amount of capital gain

SARVA CAPITAL LLC,NEW DELHI vs. ACIT CIRCLE INTERNATIONAL TAX 3(1)(2), NEW DELHI

In the result, appeal is partly allowed

Bench: Shri Kul Bharat & Dr. B. R. R. Kumar

94,79,930/- 2. That on the facts and circumstances of the case and in law, the La. AO has erred in assuming jurisdiction under section 143(3) of the Act in absence of valid notice being issued under section 143(2) of the Income-tax Act, 1961 (the Act') to the Assessee in terms of Central Board of Direct

DCIT, CC-29, NEW DELHI vs. DHARAMPAL SATYALPAL LTD., NEW DELHI

Bench: Shri G. S. Pannu & Shri Yogesh Kumar U.S.I.T.A. No. 1977/Del/2020 (A.Y 2014-15)

gains on such reasonable basis as he may deem fit. Explanation - 43[For purposes of this sub-section, "market value", in relation to any goods or services, means- price that such goods or services would ordinarily fetch in (i) open market; or arm's length price as defined in clause (ii) of section 92F, where (ii) transfer of such goods

DCIT, CC-29, NEW DELHI vs. DHARAMPAL SATYAPAL LTD., NEW DELHI

Bench: Shri G. S. Pannu & Shri Yogesh Kumar U.S.I.T.A. No. 1976/Del/2020 (A.Y 2013-14)

gains on such reasonable basis as he may deem fit. Explanation - 43[For purposes of this sub-section, "market value", in relation to any goods or services, means- price that such goods or services would ordinarily fetch in (i) open market; or arm's length price as defined in clause (ii) of section 92F, where (ii) transfer of such goods

M/S THE ORIENTAL INSSURANCE CO.LTD.,,NEW DELHI vs. DCIT, NEW DELHI

Bench: Shri Anil Chaturvedi & Shri Anubhav Sharmam/S. The Oriental Insurance Co. Ltd, Vs. The Dcit, A 25/27, Asaf Ali Road, Ltu, New Delhi New Delhi-110002 (Appellant) (Respondent) Pan: Aaact0627R

Capital Gains”. 2.1 Without prejudice, that on facts and in law the CIT(A) erred in upholding the action of AO in denying benefit of exemption u/s 10(38) of the Income Tax Act. 2.2 Without prejudice, on facts and in law the CIT(A) erred in upholding the action of AO in denying benefit of concessional rate