DEEPAK KATHARI,KANPUR vs. ACIT, CC-5, NEW DELHI

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

Bench: SHRI S. RIFAUR RAHMAN (Accountant Member), SHRI VIMAL KUMAR (Judicial Member)

section 56(2)(vii) of the Act contemplates two contingencies firstly, where the property is received without consideration and secondly, where it is received for consideration less than the fair market value. The issue of bonus shares by capitalization of reserves is merely a reallocation of the companies funds. There is no inflow of fresh funds or increase

ACIT CIRCLE 16(1), DELHI vs. KUL PRAKASH CHANDOK , DELHI

In the result, we do not\nfind any merit in this appeal, the same fails and is hereby\ndismissed

Section 56(2)(vii) of the Act contemplates two\ncontingencies firstly, where the property is received without\nconsideration and secondly, where it is received for consideration\nless than the fair market value. The issue of bonus shares by\ncapitalization of reserves is merely a reallocation of the\ncompanies funds. There is no inflow of fresh funds or increase in\nthe

POTENT FOODS PRIVATE LIMTED,FARIDABAD vs. ITO WARD-2(1), FARIDABAD

In the result, appeal of the Assessee is allowed

Bench: Shri R.K. Panda

vii)(b) of 37 ITA.No.104/Del./2021 M/s. Potent Foods Pvt. Ltd., Sector 20-B, Faridabad, Haryana. the I.T. Act, 1961 on protective basis. It is the submission of the Learned Counsel for the Assessee that for the purpose of section 56(2)(viib) of the Act the valuation of the shares has to be done in accordance with

DCIT, CC-31, NEW DELHI vs. REALTIME MARKETING PVT. LTD., DELHI

In the result, the addition made u/s 68 and u/s 56(2)(viib) in the case of M/s Realtime Marketing Pvt

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

depreciation and for A.Y. 2018-19, the assessment u/s 143(3) has been completed by making addition of Rs.5,34,609/- by the Assessing Officer and addition of Rs.2,79,50,000/- by the CPC. Realtime Marketing & ENN VEE Holdings Pvt. Ltd. ITA No. 1195/Del/2023 : Asstt. Year: 2016-17 M/s ENN VEE Holdings Pvt. Ltd. 18. In this case

ENN VEE HOLDINGS PVT LTD,NEW DELHI vs. DCIT CENTRAL CIRCLE 31, NEW DELHI

In the result, the addition made u/s 68 and u/s 56(2)(viib) in the case of M/s Realtime Marketing Pvt

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

depreciation and for A.Y. 2018-19, the assessment u/s 143(3) has been completed by making addition of Rs.5,34,609/- by the Assessing Officer and addition of Rs.2,79,50,000/- by the CPC. Realtime Marketing & ENN VEE Holdings Pvt. Ltd. ITA No. 1195/Del/2023 : Asstt. Year: 2016-17 M/s ENN VEE Holdings Pvt. Ltd. 18. In this case

STRYTON EXIM INDIA P.LTD,NEW DELHI vs. ITO, WARD-24(2), NEW DELHI

In the result appeal filed by the assessee is allowed for statistical purposes

Bench: Shri Kuldip Singh & Shri Prashant Maharishisa No. 665/Del/2018 (In Ita No. 5982/Del/2018) (Assessment Year: 2014-15) Stryton Exim India Pvt Ltd, Vs. Ito, C/O. R Khare & Associates, Ward-24(2), 7/6, Sarvapriya Vihar, New Delhi New Delhi Pan: Aaics0797B (Appellant) (Respondent) Stryton Exim India Pvt Ltd, Vs. Ito, C/O. R Khare & Associates, Ward-24(2), 7/6, Sarvapriya Vihar, New Delhi New Delhi Pan: Aaics0797B (Appellant) (Respondent)

depreciation; iv. any amount representing provision for taxation, other that amount of TDS or TCS or as advance tax payment. The quantum of TDS or TCS or advance tax needs to be reduced by the amount of tax claimed as refund under the IT A; v. any amount representing provisions made for meeting liabilities, other than ascertained liabilities

DCIT CIRCLE - 16(1), NEW DELHI vs. ARUNA CHANDHOK, NEW DELHI

In the result, we do not find any merit in this appeal, the same fails and is hereby dismissed

Bench: Shri M. Balaganesh & Shri Anubhav Sharmadcit, Vs. Smt Aruna Chandhok, Circle-16(1), H-30, Sainik Farms, New Delhi Delhi-110062 (Appellant) (Respondent) Pan: Aaepc7861R

Section 56(2)(vii) of the Act contemplates two contingencies firstly, where the property is received without consideration and secondly, where it is received for consideration less than the fair market value. The issue of bonus shares by capitalization of reserves is merely a reallocation of the companies funds. There is no inflow of fresh funds or increase

PINGASH MARKETING PRIVATE LIMITED,BALLABHGARH vs. ITO WARD-2(1), FARIDABAD

In the result, Appeals in ITA No

Bench: Dr. B.R.R. Kumar & Shri Yogesh Kumar U.S.Ita No.84/Del/2021, A.Y.2016-17)

vii) could have determined the fair market value of the premium on shares issued at Nil after rejecting the valuation report given by the Chartered Accountant on one of the prescribed methods under the rules adopted by the Valuer. Before us, learned counsel, Mr. Dinodia, first of all had harped upon the spirit and intention of the Legislature in introducing

GOPESH FABRICS PVT. LTD.,BALLABHGARH vs. ITO WARD-1(3) , FARIDABAD

In the result, Appeals in ITA No

Bench: Dr. B.R.R. Kumar & Shri Yogesh Kumar U.S.Ita No.84/Del/2021, A.Y.2016-17)

vii) could have determined the fair market value of the premium on shares issued at Nil after rejecting the valuation report given by the Chartered Accountant on one of the prescribed methods under the rules adopted by the Valuer. Before us, learned counsel, Mr. Dinodia, first of all had harped upon the spirit and intention of the Legislature in introducing

VIDHI CINEMAS PVT.LTD.,HARYANA vs. ITO WARD-2(5), FARIDABAD

In the result, Appeals in ITA No

Bench: Dr. B.R.R. Kumar & Shri Yogesh Kumar U.S.Ita No.84/Del/2021, A.Y.2016-17)

vii) could have determined the fair market value of the premium on shares issued at Nil after rejecting the valuation report given by the Chartered Accountant on one of the prescribed methods under the rules adopted by the Valuer. Before us, learned counsel, Mr. Dinodia, first of all had harped upon the spirit and intention of the Legislature in introducing

ZHILMIL ELECTRONICS PVT. LTD.,HARYANA vs. ITO WARD-2(5), FARIDABAD

In the result, Appeals in ITA No

Bench: Dr. B.R.R. Kumar & Shri Yogesh Kumar U.S.Ita No.84/Del/2021, A.Y.2016-17)

vii) could have determined the fair market value of the premium on shares issued at Nil after rejecting the valuation report given by the Chartered Accountant on one of the prescribed methods under the rules adopted by the Valuer. Before us, learned counsel, Mr. Dinodia, first of all had harped upon the spirit and intention of the Legislature in introducing

SHANTA BLANKETS PVT. LTD.,HARYANA vs. ITO WARD-2(3) , FARIDABAD

In the result, Appeals in ITA No

Bench: Dr. B.R.R. Kumar & Shri Yogesh Kumar U.S.Ita No.84/Del/2021, A.Y.2016-17)

vii) could have determined the fair market value of the premium on shares issued at Nil after rejecting the valuation report given by the Chartered Accountant on one of the prescribed methods under the rules adopted by the Valuer. Before us, learned counsel, Mr. Dinodia, first of all had harped upon the spirit and intention of the Legislature in introducing

DCIT, NEW DELHI vs. M/S JAY METAL INDUSTRIES PVT. LTD.,, NEW DELHI

In the result, the appeal of the revenue is allowed

Bench: Shri N.K. Saini & Shri Chandra Mohan Garg

VII, had held as under:- “3.1 I have considered the written submission on behalf of the appellant, the findings of the Assessing Officer and the facts on record. In the present case, the assessee made a lease agreement for letting out of the property and for providing amenities and there is a doubt in the mind of the Assessing Officer

DIRECTOR OF INCOME TAX DELHI vs. M/S LUFTHANSA CARGO INDIA P .

Bench: HON'BLE MR. JUSTICE S. RAVINDRA BHAT,HON'BLE MR. JUSTICE R.K.GAUBA

2. MATERIAL PROVISIONING 2.1 Repairable and consumables required for the work to be performed on the Customer's components shall be supplied by Lufthansa Technik on the basis of sale provided Lufthansa Technik's stock permits such supply. 2.2 Modification material and, if required serialized subassemblies shall be provided by the Customer. 2.3 If specially requested by the Customer

DIRECTOR OF INCOME TAX DELHI vs. M/S LUFTHANSA CARGO INDIA P .

2. MATERIAL PROVISIONING 2.1 Repairable and consumables required for the work to be performed on the Customer's components shall be supplied by Lufthansa Technik on the basis of sale provided Lufthansa Technik's stock permits such supply. 2.2 Modification material and, if required serialized subassemblies shall be provided by the Customer. 2.3 If specially requested by the Customer

MANTRAM COMMODITIES PVT. LTD.,FARIDABAD vs. ITO WARD-1(5), FARIDABAD

In the result, appeal of the Assessee is allowed

Bench: Shri R.K. Panda

vii)(b) of the I.T. Act, 1961 on protective basis. It is the submission of the Learned Counsel for the Assessee that for the purpose of section 56(2)(viib) of the Act the valuation of the shares has to be done in accordance with the Rule 11UA of IT Rules, 1962. As per the said Rule, the fair market

THINKSTATIONS LEARNING PRIVATE LIMITED,NEW DELHI vs. ACIT CIRCLE-25(1), NEW DELHI

In the result, both the appeals of the assessee are allowed

Bench: Shri Narendra Kumar Billaiya & Shri Challa Nagendra Prasad

section 56 shall be the value, on the valuation date, of such unquoted equity shares as determined in the following manner under clause (a) or clause (b), at the option of the assessee, namely:- a) the fair market value of unquoted equity shares = (A-L) _x (PV), (PE) A = book value of the assets in the balance-sheet as reduced

THINKSTATIONS LEARNING PRIVATE LIMITED,NEW DELHI vs. ACIT CIRCLE-8(1), NEW DELHI

In the result, both the appeals of the assessee are allowed

Bench: Shri Narendra Kumar Billaiya & Shri Challa Nagendra Prasad

section 56 shall be the value, on the valuation date, of such unquoted equity shares as determined in the following manner under clause (a) or clause (b), at the option of the assessee, namely:- a) the fair market value of unquoted equity shares = (A-L) _x (PV), (PE) A = book value of the assets in the balance-sheet as reduced