DCIT, NEW DELHI vs. M/S. OMAXE BUILDHOME (P) LTD., NEW DELHI

Bench: Shri I.C. Sudhir & Shri Laxmi Prasad Sahu Assessment Year : 2008-09 Deputy Cit, Vs. M/S. Omaxe Ltd., Central Circle-4, 7-Lsc, Omaxe House, New Delhi. Kalkaji, New Delhi. (Pan: Aaaco0171H) (Appellant) (Respondent) Assessment Year: 2008-09 M/S. Omaxe Ltd., Vs. Deputy Cit, 7-Lsc, Omaxe House, Central Circle-4, Kalkaji, New Delhi. New Delhi. (Pan: Aaaco0171H) (Appellant) (Respondent)

Properties in ITA Nos. 3633/2009 and 4361/2010, the Hon’ble Bombay High Court observed as under: “…..Moreover plain reading of Section 80IB(10) does not even remotely suggest that the plot of land having minimum area of one acre must be vacant. The said section allows deduction to a housing project (subject to fulfilling all other conditions ) constructed

ACIT, NEW DELHI vs. SH. VALMIK THAPAR, NEW DELHI

Appeals are disposed of by this common order as indicated above

Bench: Hon’Ble Justice P.P. Bhatt & Shri Prashant Maharishi(Through Video Conferencing) Shri Valmik Thapar, Vs. Acit, 19, Kautilya Marg, Circle-53(1), New Delhi New Delhi (Appellant) (Respondent) Shri Valmik Thapar, Vs. Dcit, M/S. R. N. Khanna & Company, Ca, Circle-32(1), 14-15F, Shivam House, Connaught New Delhi Place, New Delhi Pan: Aacpt7098K (Appellant) (Respondent) Acit, Vs. Shri Valmik Thapar, Circle-53(1), 19, Kautilya Marg, New Delhi New Delhi Pan: Aacpt7098K (Appellant) (Respondent) Assessee By : Shri Salil Agarwal, Senior Advocate Along With Shri Shailesh Gupta, Shri Mahur Agarwal, Advocates Revenue By: Shri H. K. Choudhary, Cit Dr Date Of Hearing 11/06/2021 (Last Hearing) Date Of Pronouncement 11/06/2021. O R D E R Per Prashant Maharishi, A. M. 1. These Are Three Appeals For Two Assessment Years Pertaining To One Assessee, Mr. Valmik Thapar, A Resident, Individual [Assessee]. Assessee Filed Ita Number

property and the same takes into account its various advantages and disadvantages, all of which would influence the valuation of property. The Hon’ble Bombay High Court went on to hold that the valuation done by an empanelled registered valuer of the Income Tax Department would certainly take precedence over other indicators. 5.5 Therefore, respectfully following the aforesaid juridical precedents

SH. VALMIK THAPAR,NEW DELHI vs. ACIT, NEW DELHI

Appeals are disposed of by this common order as indicated above

Bench: Hon’Ble Justice P.P. Bhatt & Shri Prashant Maharishi(Through Video Conferencing) Shri Valmik Thapar, Vs. Acit, 19, Kautilya Marg, Circle-53(1), New Delhi New Delhi (Appellant) (Respondent) Shri Valmik Thapar, Vs. Dcit, M/S. R. N. Khanna & Company, Ca, Circle-32(1), 14-15F, Shivam House, Connaught New Delhi Place, New Delhi Pan: Aacpt7098K (Appellant) (Respondent) Acit, Vs. Shri Valmik Thapar, Circle-53(1), 19, Kautilya Marg, New Delhi New Delhi Pan: Aacpt7098K (Appellant) (Respondent) Assessee By : Shri Salil Agarwal, Senior Advocate Along With Shri Shailesh Gupta, Shri Mahur Agarwal, Advocates Revenue By: Shri H. K. Choudhary, Cit Dr Date Of Hearing 11/06/2021 (Last Hearing) Date Of Pronouncement 11/06/2021. O R D E R Per Prashant Maharishi, A. M. 1. These Are Three Appeals For Two Assessment Years Pertaining To One Assessee, Mr. Valmik Thapar, A Resident, Individual [Assessee]. Assessee Filed Ita Number

property and the same takes into account its various advantages and disadvantages, all of which would influence the valuation of property. The Hon’ble Bombay High Court went on to hold that the valuation done by an empanelled registered valuer of the Income Tax Department would certainly take precedence over other indicators. 5.5 Therefore, respectfully following the aforesaid juridical precedents

SHRI VALMIK THAPAR,NEW DELHI vs. DCIT, NEW DELHI

Appeals are disposed of by this common order as indicated above

Bench: Hon’Ble Justice P.P. Bhatt & Shri Prashant Maharishi(Through Video Conferencing) Shri Valmik Thapar, Vs. Acit, 19, Kautilya Marg, Circle-53(1), New Delhi New Delhi (Appellant) (Respondent) Shri Valmik Thapar, Vs. Dcit, M/S. R. N. Khanna & Company, Ca, Circle-32(1), 14-15F, Shivam House, Connaught New Delhi Place, New Delhi Pan: Aacpt7098K (Appellant) (Respondent) Acit, Vs. Shri Valmik Thapar, Circle-53(1), 19, Kautilya Marg, New Delhi New Delhi Pan: Aacpt7098K (Appellant) (Respondent) Assessee By : Shri Salil Agarwal, Senior Advocate Along With Shri Shailesh Gupta, Shri Mahur Agarwal, Advocates Revenue By: Shri H. K. Choudhary, Cit Dr Date Of Hearing 11/06/2021 (Last Hearing) Date Of Pronouncement 11/06/2021. O R D E R Per Prashant Maharishi, A. M. 1. These Are Three Appeals For Two Assessment Years Pertaining To One Assessee, Mr. Valmik Thapar, A Resident, Individual [Assessee]. Assessee Filed Ita Number

property and the same takes into account its various advantages and disadvantages, all of which would influence the valuation of property. The Hon’ble Bombay High Court went on to hold that the valuation done by an empanelled registered valuer of the Income Tax Department would certainly take precedence over other indicators. 5.5 Therefore, respectfully following the aforesaid juridical precedents

THE KUMAR FAMILY TRUST,DELHI vs. ACIT, CENTER CIRCLE-4, DELHI

In the result, appeal for AYs 2013-14 & 2014-15 are unabated and assessments are set aside due to no incriminating material found during the search and the appeals for the said assessment years are...

Bench: Shri S. Rifaur Rahman & Shri Sudhir Kumar, Judicialmember

155). In view of the foregoing judgments therefore and without prejudice to the earlier submissions, the appellant submits that it is legally entitled to the benefit of at least one-self occupied property in terms of Section 23(2) of the Act. Ground No. 6 of AYs 2014-15 to 2016-17 and Ground

THE KUMAR FAMILY TRUST,DELHI vs. ACIT, CENTRAL CIRCLE-4, NEW DELHI

In the result, appeal for AYs 2013-14 & 2014-15 are unabated and assessments are set aside due to no incriminating material found during the search and the appeals for the said assessment years are...

Bench: Shri S. Rifaur Rahman & Shri Sudhir Kumar, Judicialmember

155). In view of the foregoing judgments therefore and without prejudice to the earlier submissions, the appellant submits that it is legally entitled to the benefit of at least one-self occupied property in terms of Section 23(2) of the Act. Ground No. 6 of AYs 2014-15 to 2016-17 and Ground

THE KUMAR FAMILY TRUST,DELHI vs. ACIT, CENTRAL CIRCLE-4, DELHI

In the result, appeal for AYs 2013-14 & 2014-15 are unabated and assessments are set aside due to no incriminating material found during the search and the appeals for the said assessment years are...

Bench: Shri S. Rifaur Rahman & Shri Sudhir Kumar, Judicialmember

155). In view of the foregoing judgments therefore and without prejudice to the earlier submissions, the appellant submits that it is legally entitled to the benefit of at least one-self occupied property in terms of Section 23(2) of the Act. Ground No. 6 of AYs 2014-15 to 2016-17 and Ground

THE KUMAR FAMILY TRUST,DELHI vs. ACIT, CENTRAL CIRCLE-4, NEW DELHI

In the result, appeal for AYs 2013-14 & 2014-15 are unabated and assessments are set aside due to no incriminating material found during the search and the appeals for the said assessment years are...

Bench: Shri S. Rifaur Rahman & Shri Sudhir Kumar, Judicialmember

155). In view of the foregoing judgments therefore and without prejudice to the earlier submissions, the appellant submits that it is legally entitled to the benefit of at least one-self occupied property in terms of Section 23(2) of the Act. Ground No. 6 of AYs 2014-15 to 2016-17 and Ground

THE KUMAR FAMILY TRUST,DELHI vs. ACIT, CENTRAL CIRCLE-4, DELHI

In the result, appeal for AYs 2013-14 & 2014-15 are unabated and assessments are set aside due to no incriminating material found during the search and the appeals for the said assessment years are...

Bench: Shri S. Rifaur Rahman & Shri Sudhir Kumar, Judicialmember

155). In view of the foregoing judgments therefore and without prejudice to the earlier submissions, the appellant submits that it is legally entitled to the benefit of at least one-self occupied property in terms of Section 23(2) of the Act. Ground No. 6 of AYs 2014-15 to 2016-17 and Ground

THE KUMAR FAMILY TRUST,DELHI vs. ACIT, CENTRAL CIRCLE-4, NEW DELHI

In the result, appeal for AYs 2013-14 & 2014-15 are unabated and assessments are set aside due to no incriminating material found during the search and the appeals for the said assessment years are...

Bench: Shri S. Rifaur Rahman & Shri Sudhir Kumar, Judicialmember

155). In view of the foregoing judgments therefore and without prejudice to the earlier submissions, the appellant submits that it is legally entitled to the benefit of at least one-self occupied property in terms of Section 23(2) of the Act. Ground No. 6 of AYs 2014-15 to 2016-17 and Ground

THE KUMAR FAMILY TRUST,DELHI vs. ACIT, CENTRAL CIRCLE-4, DELHI

In the result, appeal for AYs 2013-14 & 2014-15 are unabated and assessments are set aside due to no incriminating material found during the search and the appeals for the said assessment years are...

Bench: Shri S. Rifaur Rahman & Shri Sudhir Kumar, Judicialmember

155). In view of the foregoing judgments therefore and without prejudice to the earlier submissions, the appellant submits that it is legally entitled to the benefit of at least one-self occupied property in terms of Section 23(2) of the Act. Ground No. 6 of AYs 2014-15 to 2016-17 and Ground

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

properties claimed as being vacant farm lands needs verification by the AO for ascertaining the correctness of the claim that no house/building was constructed on such lands. Thus the issue is hereby, restored to AO. If it is found true that during the relevant time, no house property/commercial space were constructed thereon. No addition would be called for. Thus, Ground

ACIT, NEW DELHI vs. M/S. ATRIA PARTNER, NEW DELHI

In the result, the appeal filed by the Revenue is dismissed

Bench: : Shri H.S. Sidhu & Shri L.P. Sahuasstt. Year : 2010-11 A.C.I.T., Circle 31(1) Vs. M/S. Atria Partners, New Delhi. 9Th Floor, Dlf Centre, Sansad Marg, New Delhi. [Pan : Aahfa 1305 P] (Appellant) (Respondent) Appellant By : Shri K.K. Jaiswal, Sr. Dr Respondent By : Shri R.S. Singhvi, C.A. Date Of Hearing : 14.01.2016 Date Of Pronouncement : 27.01.2016 Order Per L.P. Sahu: This Appeal By The Revenue Is Directed Against The Order Dated 25.11.2013 Passed By The Learned Cit(A)-Xxvi, Delhi For The Assessment Year 2010-11 On The Following Grounds :

section 24(a) of the IT Act. The AO required the assessee to furnish the reasons for showing rental income under the head “income from house property” instead of “business income”. In response, the assessee filed written submissions stating that the assessee firm received rental income from property owned by it and hence, the rental income was correctly shown

RAJENDRA AGRAWAL,DELHI vs. ITO WARD-30(2) , DELHI

In the result, the appeal is allowed

Bench: BEFORESHRI VIKAS AWASTHY (Judicial Member), SHRI AVDHESH KUMAR MISHRA (Accountant Member)

155/- (Rs.11,23,853/-minus Rs.5,01,700/-) in G. K. Property, in respect of which supporting documents filed by the appellant/assessee, as allowable deduction under section 5 54 of the Act. Aggrieved, the assessee preferred appeal before the Ld. CIT(A), who dismissed the appeal. Hence, this appeal is here. 4. At the outset, the Ld. Authorised Representative

ITO, NEW DELHI vs. SH. YASHOVARDHAN TYAGI, GURGAON

In the result, the appeal of the revenue is dismissed and the appeal of the assessee is partly allowed

Bench: Ms. Sushma Chowladr. B. R. R. Kumarita No. 2880/Del/2016 : Asstt. Year : 2011-12 Ito Vs Sh. Yashovardhan Tyagi, Ward-34(3), 56, Madhya Marg, Dlf, Phase-Ii, New Delhi Gurgaon, Delhi-122002 (Appellant) (Respondent) Pan No. Aaapt0403G

Section 2(22)(e) of the Act are not attracted. We find that the facts of the instant case are similar wherein the ratio of the above judgment is applicable. Hence, the addition made by the AO is hereby directed to be deleted. Unexplained Investments: 11. The Assessing Officer observed that as per capital account appearing in the balance sheet

YASHOVARDHAN TYAGI,GURGAON vs. ACIT, NEW DELHI

In the result, the appeal of the revenue is dismissed and the appeal of the assessee is partly allowed

Bench: Ms. Sushma Chowladr. B. R. R. Kumarita No. 2880/Del/2016 : Asstt. Year : 2011-12 Ito Vs Sh. Yashovardhan Tyagi, Ward-34(3), 56, Madhya Marg, Dlf, Phase-Ii, New Delhi Gurgaon, Delhi-122002 (Appellant) (Respondent) Pan No. Aaapt0403G

Section 2(22)(e) of the Act are not attracted. We find that the facts of the instant case are similar wherein the ratio of the above judgment is applicable. Hence, the addition made by the AO is hereby directed to be deleted. Unexplained Investments: 11. The Assessing Officer observed that as per capital account appearing in the balance sheet

GALLERIA CONDOMINIUM ASSOCIATION,GURGAON vs. INCOME TAX OFFICER, WARD-1(5), GURGAON, GURUGRAM

In the result, all the appeals filed by the assessee are remanded back to the file of the Assessing Officer for fresh assessment

Bench: Shri Amit Shuklaas S.M.C. (Through Video Conferencing)

155/- in the assessment year 2009-10; Rs1,10,476/- in assessment year 2010-11 and Rs.2,92,089/- in assessment year 2011-12. Similarly, income from house property has been earned of Rs.7,56,370/- in assessment year 2009-10; Rs.5,92,715/- in assessment year 2010-11 and Rs.6,70,010/- in assessment year 2011-12. Similarly, there

GALLERIA CONDOMINIUM ASSOCIATION,GURGAON vs. INCOME TAX OFFICER, WARD-1(3), GURGAON, GURGAON

In the result, all the appeals filed by the assessee are remanded back to the file of the Assessing Officer for fresh assessment

Bench: Shri Amit Shuklaas S.M.C. (Through Video Conferencing)

155/- in the assessment year 2009-10; Rs1,10,476/- in assessment year 2010-11 and Rs.2,92,089/- in assessment year 2011-12. Similarly, income from house property has been earned of Rs.7,56,370/- in assessment year 2009-10; Rs.5,92,715/- in assessment year 2010-11 and Rs.6,70,010/- in assessment year 2011-12. Similarly, there