ACIT, CIRCLE-1(1), GURUGRAM vs. DLF CYBER CITY DEVELOPERS LTD., GURUGRAM

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

Bench: Shri C. N. Prasad & Shri M. Balaganeshacit, Vs. Dlf Cyber City Developers Ltd, 3Rd Floor, B-Wing, Shopping Mall Circle-1(1), Gurugram Complex, Arjun Marg, Dkf City, Phase-I, Gurgaon, Haryana (Appellant) (Respondent) Pan: Aaccd3572H Dlf Cyber City Developers Ltd, Vs. Addl. Cit, 3Rd Floor, B-Wing, Shopping Mall Range-I, Complex, Arjun Marg, Dkf City, Gurgaon Phase-I, Gurgaon, Haryana (Appellant) (Respondent) Pan: Aaccd3572H

10. There is no dispute with regard to eligibility of claim of deduction u/s 80IA(4)(iii) of the Act. It is not in dispute that the assessee has been DLF Cyber City Developers Ltd AYs: 2011-12 to 2015-16 notified as undertaking of the Central Govt vide notification dated 28.07.2010 running an approved industrial park in terms

DLF CYBER CITY DEVELOPERS LTD.,GURUGRAM vs. DCIT, CIRCLE-1(1), GURUGRAM

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

Bench: Shri C. N. Prasad & Shri M. Balaganeshacit, Vs. Dlf Cyber City Developers Ltd, 3Rd Floor, B-Wing, Shopping Mall Circle-1(1), Gurugram Complex, Arjun Marg, Dkf City, Phase-I, Gurgaon, Haryana (Appellant) (Respondent) Pan: Aaccd3572H Dlf Cyber City Developers Ltd, Vs. Addl. Cit, 3Rd Floor, B-Wing, Shopping Mall Range-I, Complex, Arjun Marg, Dkf City, Gurgaon Phase-I, Gurgaon, Haryana (Appellant) (Respondent) Pan: Aaccd3572H

10. There is no dispute with regard to eligibility of claim of deduction u/s 80IA(4)(iii) of the Act. It is not in dispute that the assessee has been DLF Cyber City Developers Ltd AYs: 2011-12 to 2015-16 notified as undertaking of the Central Govt vide notification dated 28.07.2010 running an approved industrial park in terms

DLF CYBER CITY DEVELOPERS LTD.,GURUGRAM vs. DCIT, CIRCLE-1(1), GURUGRAM

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

Bench: Shri C. N. Prasad & Shri M. Balaganeshacit, Vs. Dlf Cyber City Developers Ltd, 3Rd Floor, B-Wing, Shopping Mall Circle-1(1), Gurugram Complex, Arjun Marg, Dkf City, Phase-I, Gurgaon, Haryana (Appellant) (Respondent) Pan: Aaccd3572H Dlf Cyber City Developers Ltd, Vs. Addl. Cit, 3Rd Floor, B-Wing, Shopping Mall Range-I, Complex, Arjun Marg, Dkf City, Gurgaon Phase-I, Gurgaon, Haryana (Appellant) (Respondent) Pan: Aaccd3572H

10. There is no dispute with regard to eligibility of claim of deduction u/s 80IA(4)(iii) of the Act. It is not in dispute that the assessee has been DLF Cyber City Developers Ltd AYs: 2011-12 to 2015-16 notified as undertaking of the Central Govt vide notification dated 28.07.2010 running an approved industrial park in terms

DLF CYBER CITY DEVELOPERS LTD.,GURUGRAM vs. DCIT, CIRCLE-1, GURUGRAM

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

Bench: Shri C. N. Prasad & Shri M. Balaganeshacit, Vs. Dlf Cyber City Developers Ltd, 3Rd Floor, B-Wing, Shopping Mall Circle-1(1), Gurugram Complex, Arjun Marg, Dkf City, Phase-I, Gurgaon, Haryana (Appellant) (Respondent) Pan: Aaccd3572H Dlf Cyber City Developers Ltd, Vs. Addl. Cit, 3Rd Floor, B-Wing, Shopping Mall Range-I, Complex, Arjun Marg, Dkf City, Gurgaon Phase-I, Gurgaon, Haryana (Appellant) (Respondent) Pan: Aaccd3572H

10. There is no dispute with regard to eligibility of claim of deduction u/s 80IA(4)(iii) of the Act. It is not in dispute that the assessee has been DLF Cyber City Developers Ltd AYs: 2011-12 to 2015-16 notified as undertaking of the Central Govt vide notification dated 28.07.2010 running an approved industrial park in terms

DLF CYBER CITY DEVELOPERS LTD.,GURUGRAM vs. DCIT, CIRCLE-1(1), GURUGRAM

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

Bench: Shri C. N. Prasad & Shri M. Balaganeshacit, Vs. Dlf Cyber City Developers Ltd, 3Rd Floor, B-Wing, Shopping Mall Circle-1(1), Gurugram Complex, Arjun Marg, Dkf City, Phase-I, Gurgaon, Haryana (Appellant) (Respondent) Pan: Aaccd3572H Dlf Cyber City Developers Ltd, Vs. Addl. Cit, 3Rd Floor, B-Wing, Shopping Mall Range-I, Complex, Arjun Marg, Dkf City, Gurgaon Phase-I, Gurgaon, Haryana (Appellant) (Respondent) Pan: Aaccd3572H

10. There is no dispute with regard to eligibility of claim of deduction u/s 80IA(4)(iii) of the Act. It is not in dispute that the assessee has been DLF Cyber City Developers Ltd AYs: 2011-12 to 2015-16 notified as undertaking of the Central Govt vide notification dated 28.07.2010 running an approved industrial park in terms

M/S ACTIVE SECURITIES LIMITED,NEW DELHI vs. ITO, NEW DELHI

The appeals are allowed

Bench: Shri G.S. Pannu, Hon’Ble & Shri Anubhav Sharma

10,87,64,735/- for A.Y. 2010-11 and Rs.5,00,09,463/- for AY 2012-13received from Emaar MGF. 3. The Assessing Officer was of the view that the rental income is actually income from house property and not business income or income from other sources. The Assessing Officer granted standard deduction of 30% as per Section

YOSHIO KUBO vs. COMMISSIONER OF INCOME TAX

The appeals are disposed of accordingly

15. It was highlighted by counsel that the interpretation pressed upon by the revenue cannot be accepted, as it would amount to rendering Section 10 (10CC) meaningless. It was argued that each perquisite, paid for by the employer (even if not paid by the employee) would become a monetary perquisite. Thus, residential house belonging to the employer and provided

YOSHIO KUBO vs. COMMISSIONER OF INCOME TAX

The appeals are disposed of accordingly

15. It was highlighted by counsel that the interpretation pressed upon by the revenue cannot be accepted, as it would amount to rendering Section 10 (10CC) meaningless. It was argued that each perquisite, paid for by the employer (even if not paid by the employee) would become a monetary perquisite. Thus, residential house belonging to the employer and provided

THE ORIENTAL INSURANCE CO. LTD.,NEW DELHI vs. DCIT, CIRCLE- 1, LTU, NEW DELHI

Bench: Sh. Anil Chaturvedi & Sh.Anubhav Sharmaita No. 1952/Del/2018, A.Y. 2013-14 M/S. The Oriental Insurance Co. Vs. Dcit, Ltd. Circle-1, Ltu, A-25/27, Asaf Ali Road, New Delhi New Delhi- 110002 Pan :Aaact0627R

15)(iv)(h) of the Act is applicable and Section 10(38) of the Act is not applicable, made the distinction and made the addition avoiding Section 10 of the Act. 16. In this context here it can be observed that ‘Profits and gains of business’ is one of the classified heads of the income as per Section

DCIT, CIRCLE- 1, LTU, NEW DELHI vs. THE ORIENTAL INSURANCE CO. LTD., NEW DELHI

Bench: Sh. Anil Chaturvedi & Sh.Anubhav Sharmaita No. 1952/Del/2018, A.Y. 2013-14 M/S. The Oriental Insurance Co. Vs. Dcit, Ltd. Circle-1, Ltu, A-25/27, Asaf Ali Road, New Delhi New Delhi- 110002 Pan :Aaact0627R

15)(iv)(h) of the Act is applicable and Section 10(38) of the Act is not applicable, made the distinction and made the addition avoiding Section 10 of the Act. 16. In this context here it can be observed that ‘Profits and gains of business’ is one of the classified heads of the income as per Section

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

15)(iv)(h) of the Act is applicable and Section 10(38) of the Act is not applicable, made the distinction and made the addition avoiding Section 10 of the Act. 16. In this context here it can be observed that „Profits and gains of business‟ is one of the classified heads of the income as per Section

PAVEL GARG,NEW DELHI vs. ACIT, CIRCLE- 63(1), NEW DELHI

In the result, the appeal of the assessee is allowed for statistical purpose

Bench: Sh. Amit Shukladr. B. R. R. Kumarita No. 3606/Del/2018 : Asstt. Year : 2013-14 Pavel Garg, Vs Acit, Dtj-120, 1St Floor, Jasola Tower-B, Circle-63(1), Jasola, New Delhi-110025 New Delhi (Appellant) (Respondent) Pan No. Aalpg2923R Assessee By : Sh. S.B. Gupta, Ca Revenue By : Sh. Hemant Gupta, Sr. Dr Date Of Hearing: 23.11.2021 Date Of Pronouncement: 15.02.2022

15,750/- against the annual value of Rs. 48,000/- accepted by the AO for the said adjoining house property and other house properties in close vicinity. 18. Thus, it was argued that the deemed annual value @ 5% of value of investment in house property was calculated by ld. CIT(A) on ad-hoc basis without bringing on record

ITO, NEW DELHI vs. M/S ANSAL HOUSING & CONSTRUCTION LTD., NEW DELHI

In the result, the cross-objection filed by the assessee is dismissed

Bench: Shri G.S.Pannu & Shri Kul Bharat[Assessment Year : 2007-08] Dcit, Vs Ansal Housing & Construction Ltd., Central Circle-20, Ugf-15, Indraprastha Building, 21, New Delhi. Barakhamba Road, New Delhi. Pan-Aaaca0377R Appellant Respondent

section 22 of the Act. However, the Ld.CIT(A) has deleted the impugned addition without giving specific finding regarding the properties being vacant farm land and there was no construction of house property by the assessee. Therefore, the issue of taxability of properties claimed as being vacant farm lands needs verification by the AO for ascertaining the correctness

COMMISSIONER OF INCOME TAX-VI vs. VRM INDIA LTD

Properties [2013] 353 ITR 36 (Bom) to decide the permissibility of deduction in a case where the assessee had to develop and construct a block of residential flats. The Court held that: “…the expression "housing project" in common parlance would mean constructing a building or group of buildings consisting of several residential units. In fact, the Explanation in section

COMMISSIONER OF INCOME TAX-VI vs. VRM INDIA LTD

Properties [2013] 353 ITR 36 (Bom) to decide the permissibility of deduction in a case where the assessee had to develop and construct a block of residential flats. The Court held that: “…the expression "housing project" in common parlance would mean constructing a building or group of buildings consisting of several residential units. In fact, the Explanation in section

COMMISSIONER OF INCOME TAX-VI vs. VRM INDIA LTD

Properties [2013] 353 ITR 36 (Bom) to decide the permissibility of deduction in a case where the assessee had to develop and construct a block of residential flats. The Court held that: “…the expression "housing project" in common parlance would mean constructing a building or group of buildings consisting of several residential units. In fact, the Explanation in section

ACIT CIRCLE-7(1), NEW DELHI vs. DLF ASSETS PVT. LTD.,, NEW DELHI

Accordingly, the order of the ld. CIT (A) is confirmed and the Revenue’s appeal for AY 2013-14 is dismissed

Bench: Shri Amit Shukla & Dr. B.R.R. Kumar

10 ITA Nos.8524 to 8526/Del./2019 11. We have heard the rival contentions, gone through the impugned orders and the material available on record. We find that only dispute in appeal is, whether the assessment of lease income from commercial space in SEZ, should be taxed under the head “Income from house property” or as “business income

ACIT CIRCLE-7(1), NEW DELHI vs. DLF ASSETS PVT. LTD.,, NEW DELHI

Accordingly, the order of the ld. CIT (A) is confirmed and the Revenue’s appeal for AY 2013-14 is dismissed

Bench: Shri Amit Shukla & Dr. B.R.R. Kumar

10 ITA Nos.8524 to 8526/Del./2019 11. We have heard the rival contentions, gone through the impugned orders and the material available on record. We find that only dispute in appeal is, whether the assessment of lease income from commercial space in SEZ, should be taxed under the head “Income from house property” or as “business income

ACIT CIRCLE-7(1), NEW DELHI vs. DLF ASSETS PVT. LTD.,, NEW DELHI

Accordingly, the order of the ld. CIT (A) is confirmed and the Revenue’s appeal for AY 2013-14 is dismissed

Bench: Shri Amit Shukla & Dr. B.R.R. Kumar

10 ITA Nos.8524 to 8526/Del./2019 11. We have heard the rival contentions, gone through the impugned orders and the material available on record. We find that only dispute in appeal is, whether the assessment of lease income from commercial space in SEZ, should be taxed under the head “Income from house property” or as “business income