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)

56(2)(viib), The New Notification is made applicable from the date of publication of the Rule in official Gazette. The Notification was also gazette on 29 November 2012. The valuation rule 11 UA of income tax rule is described as under:- ITA No 5982 Del 2018 AY 2014 15 Strton Exim P Ltd Alongwith stay

ABHIRVEY PROJECTS PRIVATE LIMITED,NEW DELHI vs. ACIT CIRCLE-1(2), NEW DELHI

In the result, the appeal of the assessee is allowed

Bench: Shri Challa Nagendra Prasad & Shri Pradip Kumar Kedia

section 56(2)(viib) read with Rule 11UA whose fair market value of the share i.e. Rs. 50/- was done on the basis of Discounted Cash Flow Method which was work out by one of the know Merchant Banker i.e. M/s SPA Capital Advisors Ltd. 3. For the assessment year 2014-15, the assessee filed Its return of income

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

2) of 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

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

2) of 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

PATANJALI YOGPEETH (NYAS),DELHI vs. ADIT(EXEMPTION), NEW DELHI

Appeal is allowed

Bench: Shri I.C. Sudhir & Shri L. P. Sahu

x) DIT (E) Vs. Charanjiv Charitable Trust (2014) 43 Taxman.com 300 (Del.); (xi) Mundakapadam Mandirams Society Vs. CIT (2002) 125 Taxman 515 (Ker.); (xii) Kamma Sangham Vs. DIT (E) (2014) 43 Taxman.com 192 (AP); (xiii) Shri Dhakad Samaj Dharamshala Bhawan Trust Vs. CIT (2008) 302 ITR 321 (MP); (xiv) Radhasoami Satsang Vs. CIT (1992) 193 ITR 321 (SC); (xv) Distributors

BRASH STEELS PVT LTD,FARIDABAD vs. ITO WARD - 1(2), FARIDABAD

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

Bench: Shri R.K. Pandaassessment Year : 2015-16 M/S Brash Steels Pvt. Ltd. Vs. Ito, Ff-9, Vishnu Place, Near Ward-1(2), Neelam Flyover, Sector-20B, Faridabad, Faridabad, Haryana-121002 Haryana-121002 Pan-Aafcb0204R

x 10 17,55,000 = Rs.81.57/- Book Value of assets as on 31.03.2014: Cash and cash equivalent- Rs. 3,62,445/- Short term loans and advances- Rs. 1,85,20,998/- Total Rs. 1,88,83,443/- Book value of liability as on 31.03.2014: Trade Payables- Rs. 46,90,000/- Other current liabilities- Rs. 1,655/- Short term provisions

RAJ SHEELA GROWTH FUND (P) LTD.,NEW DELHI vs. ITO, WARD- 21(1), NEW DELHI

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

Bench: Shri Amit Shukla & Shri L. P. Sahu

section 224 of the Companies Act, 1956 (1 of 1956)” 52 I.T.A. No.881/DEL/2019 Thus, the aforesaid definition provides that for the purpose of determination of FMV of unquoted shares under sub Rule 2 of Rule 11UA, the balance sheet of the company includes notes annexed thereto forming part of the accounts as drawn on the valuation date which has been

HIGH WINGS CONSTRUCTION PVT. LTD.,GURGAON vs. ITO, WARD- 11(3), NEW DELHI

In the result, the appeal filed by the assessee is

Bench: Shri R.K. Panda & Shri Sudhanshu Srivastava[Assessment Year: 2014-15]

x 110) is chargeable to income tax under the head ‘Income from other sources’ and the Assessing Officer’s order on this issue is upheld. Appeal on ground nos. 1 to 6 are dismissed.” 5. Aggrieved with such order of the learned CIT(A), the assessee is in appeal before this Tribunal by raising following grounds:- 1. That

DCIT, NEW DELHI vs. M/S. JAYPEE CAPITAL SERVICES LTD., NEW DELHI

In the result, ITA.No.3559/Del

Bench: Shri R.K. Panda & Shri Sudhanshu Srivastava

2)(viia), was prescribed by notification no. 23/10 dated 8.4.2010, came into effect from 1.10.2009, same is as under : "11UA. For the purposes of section 56 of the Act, the fair market value of a property, other than immovable property, shall be determined in the following manner, namely - (c) valuation of shares and securities, (a) the fair market value

DCIT, NEW DELHI vs. M/S. JAYPEE CAPITAL SERVICES LTD., NEW DELHI

In the result, ITA.No.3559/Del

Bench: Shri R.K. Panda & Shri Sudhanshu Srivastava

2)(viia), was prescribed by notification no. 23/10 dated 8.4.2010, came into effect from 1.10.2009, same is as under : "11UA. For the purposes of section 56 of the Act, the fair market value of a property, other than immovable property, shall be determined in the following manner, namely - (c) valuation of shares and securities, (a) the fair market value

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

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

Bench: Shri R.K. Pandaassessment Year: 2015-16 Mantram Commodities Pvt. Ltd., Vs Ito, Ff-9, Vishnu Place, Ward 1(5), Near Neelam Flyover, Faridabad. Sector-20B, Faridabad. Pan: Aahcm9517C (Appellant) (Respondent) Assessee By : Shri Rajiv Saxena, Advocate Revenue By : Shri Rovin Rawal, Addl.Cit Date Of Hearing : 21.01.2021 Date Of Pronouncement : 12.02.2021 Order Per R.K. Panda, Am: This Appeal Filed By The Assessee Is Directed Against The Orders Dated 29Th March, 2019 Of The Cit(A), Faridabad, Relating To Assessment Year 2015-16. 2. Facts Of The Case, In Brief, Are That The Assessee Is A Private Limited Company & Has Not Conducted Any Business Activity During The Relevant Assessment Year. It Filed Its Return Of Income On 10Th September, 2015 Declaring The Total Income At Rs.1,64,750/-. The Ao, During The Course Of Assessment Proceedings, Noted That The Assessee Company Has Received Rs.42 Lakhs As Share Premium During The Year On Issue Of 60000 Shares At A Premium Of Rs.70/-. He Noticed That The Shares Have Been Allotted On 31St March, 2015 To The Following Companies/Persons:- Name Of Person, No. Of Nominal Premium Amount Of Total Amt. Paid Shares Value Per Per Premium(Rs.) Including Share(Rs.) Share(Rs.) Premium(Rs.) Gangashiv 33125 10 70 2318750 2650000 Contractors Pvt. Ltd. 26875 10 70 1881250 2150000 Amar Shree Industries Pvt. Ltd. Total 60000 4200000 4800000

x 10 17,80,000 = Rs.82.07/- Book Value of assets as on 31.03.2014: Cash and cash equivalent- Rs. 6,18,035/- Short term loans and advances- Rs. 2,38,07,381/- Other current assets- Rs. 1,16.534/- Total Rs. 2,45,41,950 5 Book value of liability as on 31.03.2014: Trade Payables- Rs. 98,89,950/- Other current liabilities

THE COMMISSIONER OF INCOME TX-IV vs. INDRAPRASTHA GAS LTD.

Bench: HON'BLE DR. JUSTICE S.MURALIDHAR,HON'BLE MR. JUSTICE VIBHU BAKHRU

depreciated value of the building on the property which had been demolished to construct the hotel under the Collaboration Agreement dated December 18, 1976. 5. Clause (ii) of this Supplemental Agreement provided that the IHCL would pay the NDMC a sum of `12 lakhs per annum in lieu of house tax payable in respect of the hotel building. The Supplemental

ACIT CIRCLE-10(1), NEW DELHI vs. GAMMA PIZZAKRAFT (OVERSEAS) PVT LTD, NEW DELHI

In the result, the appeal of the Revenue is dismissed

Bench: Sh. C. M. Gargdr. B. R. R. Kumar

2) of 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) where, A = book value of the assets in the balance

CAIRN UK HOLDING LTD.,AHMEDABAD vs. DCIT (INTERNATIONAL TAXATION), NEW DELHI

In the result ground No. 5 of the appeal of the assessee is allowed

Bench: Shri H. S. Sidhu & Shri Prashant Maharishi

Depreciation 2393 3 749 3145 Cairn U K Holdings Limited V DCIT ( International Taxation) New Delhi A Y 2007-08 P a g e | 34 Amortization 2242 -- 1620 3862 The segment assets and liabilities as at 31 December 2006 and capital expenditure for the year then ended are follows: Cairn India Capricorn Other Group 2006 Limited Energy Group Limited Group

RIVET ELECTRICAL PVT LTD,FARIDABAD vs. PR. CIT, FARIDABAD

In the result, the appeal of the assessee is allowed

Bench: Shri Kul Bharat & Shri Pradip Kumar Kedia[Assessment Year : 2014-15] Rivet Electrical Pvt.Ltd., Vs Pr.Cit, Ff-9, Vishnu Place, Faridabad, Near Neelam Flyover, Sec-20B, Haryana. Faridabad, Haryana-121002. Pan-Aafcr8803C Appellant Respondent Appellant By Shri Rajeev Saxena, Adv., Ms. Sumangl Saxena, Adv. & Shri Sahyamsunder, Adv. Respondent By Shri Anuj Garg, Sr.Dr Date Of Hearing 12.10.2022 Date Of Pronouncement 15.11.2022

2) of 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 assessor, namely: (a) the fair market value of unquoted equity shares (A-L) x (PV) (PE) Where, A. book value of the assets in the balance

INDIAN NATIONAL CONG. (I) AICC vs. C.I.T.- XI

Bench: HON'BLE DR. JUSTICE S.MURALIDHAR,HON'BLE MR. JUSTICE VIBHU BAKHRU

x) In view of the overall excess of expenditure over income and the decision of the Supreme Court in Ranchi Club Ltd. v. Commissioner of Income Tax (2001) 247 ITR 209 (SC), the interest charged under Section 234A and 234B of the Act was required to be deleted. (xi) The Revenue’s appeal was dismissed by observing that the allowance

COMMISSIONER OF INCOME TAX DELHI-XI vs. INDIAN NATIONAL CONGRESS/ALL INDIA CONGRESS COMMITTEE

Bench: HON'BLE DR. JUSTICE S.MURALIDHAR,HON'BLE MR. JUSTICE VIBHU BAKHRU

x) In view of the overall excess of expenditure over income and the decision of the Supreme Court in Ranchi Club Ltd. v. Commissioner of Income Tax (2001) 247 ITR 209 (SC), the interest charged under Section 234A and 234B of the Act was required to be deleted. (xi) The Revenue’s appeal was dismissed by observing that the allowance

ANALJIT SINGH,DELHI vs. DCIT, CIRCLE- 16(2), DELHI

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

Bench: Shri Amit Shukla & Shri O.P.Kant

2 of Consolidated FDI Policy (effective from April 5, 2013), which was applicable during the period in question, price of shares of an unlisted Indian company, transferred by resident to a non-resident, shall not be less than fair value determined by a SEBI registered Category I Merchant Banker or Chartered Accountant as per the discounted free cash