ARUN DWIVEDI,NEW DELHI vs. ACIT, CIRCLE-9(2), NEW DELHI

Bench: Shri Vimal Kumar & Shri Brajesh Kumar Singh

Long Term Capital Gain ofRs.51,52,564/-, which was not contested by the assessee before the ld. CIT(A). 5. The Assessing Officer regarding the sale and purchase of residential immovable property by the assessee being House

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

house property at Rs.1,35,800/- and Long-Term Capital Gains (‘LTCG’) of Rs.50,44,027/- and the exempted LTCG

BHUPINDER SINGH JULKA,NEW DELHI vs. ACIT, CIRCLE-INT. TAX. 2(1)(2), DELHI

In the result, the appeal of the assessee is partly allowed for statistical purposes

Bench: Shri Kul Bharat & Shri M. Balaganesh

long-term capital asset shall not be charged to tax to the extent specified therein, where the amount of capital gain is invested in a residential house. In the case of purchase of a house, the benefits available if the investment is made within a period of one year before or after the date on which the transfer took place

ANU GERA,NEW DELHI vs. ITO, NEW DELHI

Accordingly Ground No. 3 of the Assessee is allowed

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

house property purchased against long term capital gain on sale of a long term capital asset being a residential property

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

long term capital gains of INR 4,00,56,781 and short term capital loss of INR 17,94,89,735! However, the AO has not verified the veracity of such claim by calling for the basis of valuation of shares and verification thereof. It also disposed of shares of Manpasand Beverages Ltd with capital loss

ADDL. CIT, SPECIAL RANGE-7, NEW DELHI vs. PURAN ASSOCIATES PVT. LTD., NEW DELHI

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

Bench: Shri Challa Nagendra Prasad & Shri Pradip Kumar Kedia

property of any kind held by an assessee, whether or not connected with his business or profession, but does not include any stock-in-trade or personal assets subject to certain exceptions. As regards shares and other securities, the same can be held either as capital assets or stock-in- trade/ trading assets or both. Determination of the character

CHANAN LAL DHINGRA,GHAZIABAD vs. DCIT, CIRCLE- 1, GHAZIABAD

In the result, appeal of the assessee is partly allowed

Bench: Shri Amit Shukla & Shri Prashant Maharishi(Through Video Conferencing)

long term capital gain on the sale of property at Rs. 1,02,38,300/- considering the deemed sale consideration under Section 50C of the Act of Rs. 1,05,20,000/- and granting index cost of acquisition to the assessee of cost of acquisition of Rs. 30,000/- which is indexed to Rs. 2,81,700/-. Before

ACIT, CIRCLE-8(1), NEW DELHI vs. ARIHANT KUMAR JAIN, NEW DELHI

Bench: Shri Kuldip Singh & Shri Prashant Maharishi

house property, capital gains & income from other sources. Assessee filed return of income declaring total income of Rs.50,36,026/-. During scrutiny proceedings, Assessing Officer (AO) noticed that the assessee has claimed “capital gains” of Rs.2,72,85,500/- as exempt under section 10(38) of the Income-tax Act, 1961 (for short ‘the Act’) from the sale of scrip

PURAN ASSOCIATES PVT. LTD.,NEW DELHI vs. DCIT, CIRCLE-20(1), NEW DELHI

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

Bench: Shri Kul Bharat & Shri O.P. Kant[Through Video Conferencing] Assessment Year: 2014-15

property of any kind held by an assessee, whether or not connected with his business or profession, but does not include any stock-in-trade or personal assets subject to certain exceptions. As regards shares and other securities, the same can be held either as capital assets or stock-in-trade/ trading assets or both. Determination of the character

DCIT, CIRCLE-2(2), NEW DELHI vs. ANANT RAJ LTD., NEW DELHI

The appeal is allowed partly as indicated above

Bench: Shri Amit Shukla & Shri Prashant Maharishi

term capital gain on sale of the property being the plots of land and building for which the sale was cancelled by an order dated 05/06/2015 of the Hon’ble Delhi High Court. 35. As discussed above, the assessee filed a revised return of income during the course of assessment proceedings initiated

ANANT RAJ LTD.,NEW DELHI vs. DCIT, CIRCLE-2(2), NEW DELHI

The appeal is allowed partly as indicated above

Bench: Shri Amit Shukla & Shri Prashant Maharishi

term capital gain on sale of the property being the plots of land and building for which the sale was cancelled by an order dated 05/06/2015 of the Hon’ble Delhi High Court. 35. As discussed above, the assessee filed a revised return of income during the course of assessment proceedings initiated

DCIT, CIRCLE-2(2), NEW DELHI vs. ANANT RAJ LTD., NEW DELHI

The appeal is allowed partly as indicated above

Bench: Shri Amit Shukla & Shri Prashant Maharishi

term capital gain on sale of the property being the plots of land and building for which the sale was cancelled by an order dated 05/06/2015 of the Hon’ble Delhi High Court. 35. As discussed above, the assessee filed a revised return of income during the course of assessment proceedings initiated

MR. NIKHIL SAWHNEY,NEW DELHI vs. ACIT, NOIDA

In the result, appeal of the assessee is dismissed

Bench: Shri Bhavnesh Saini & Shri Prashant Maharishimr. Nikhil Sawhney Acit, 17 – Sunder Nagar, Central Circle, Vs. New Delhi – 110 003. Noida. Pan: Aaups0222Q (Appellant) (Respondent)

property and the assessee shall be entitled to carry forward the unutilized loss. 1.35 Similarly, the Kolkata Bench of the Tribunal in the case of United Investments vs. ACIT: 511/Kol/2017 allowed the claim of set off and carry forward of long term capital loss incurred on sale of listed securities holding that merely because the capital gain on sale

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

property of any kind held by an assessee, whether or not connected with his business or profession, but does not include any stock-in-trade or personal assets subject to certain exceptions. As regards shares and other securities, the same can be held either as capital assets or stock-in-trade/ trading assets or both. Determination of the character

SANJAY KAUL,NEW DELHI vs. ITO, WARD-24(4), NEW DELHI

In the result, the appeal of the assessee is dismissed

Bench: Shri H.S. Sidhu & Shri O.P. Kantassessment Year: 2015-16

house property”, “income from business or profession”, “income from capital gain” and “income from other sources”. The assessee declared long-term

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

property appreciated or understood by the AO in both cases who appear to have been directed by the revenue officers above them to pass order on similar terms to reject the assessee’s claim for lower rate of tax on long term capital gain shown by them. Page 35 of 42 ITA No.- 719/Del/2010 Shri Sunil Goyal

DR. PRANNOY ROY,,NEW DELHI vs. DCIT, NEW DELHI

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

capital gain ought to have been deleted altogether. 3. That the learned Commissioner of Income Tax (Appeals) has erred both in law and on facts in sustaining addition in respect of alleged income under the head house property from following properties: Sr. No. Property Amount (Rs.) i) B-13, Greater Kailash-I, New Delhi 34,268 ii) One House

DR. PRANNOY ROY,,NEW DELHI vs. DCIT, NEW DELHI

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

capital gain ought to have been deleted altogether. 3. That the learned Commissioner of Income Tax (Appeals) has erred both in law and on facts in sustaining addition in respect of alleged income under the head house property from following properties: Sr. No. Property Amount (Rs.) i) B-13, Greater Kailash-I, New Delhi 34,268 ii) One House