M/S. IDEAL HITECH ENGINEERING EQUIPMENT (P) LTD.,NEW DELHI vs. ITO, NEW DELHI

In the result, appeal of the assessee is allowed

Bench: Shri H.S. Sidhu & Dr. B.R.R. Kumar

house property. The appellant, vide letter dated March 23, 2005, contended that, as per section 23(l)(c) of the Act, the annual value of the flat was nil and, hence, he was not liable to tax. The assessing authority, in his order of assessment dated March 28, 2005, held that section 23(1

MRS. RASHMI DHARIWAL,NEW DELHI vs. ACIT, NEW DELHI

In the result ground No. 11 and 12 of the appeal of the assessee are allowed accordingly

Bench: Shri H.S.Sidhu & Shri Prashant Maharishirashmi Dhariwal, Vs. Acit, Aashray Farms, Sub Po, Circle-23(1), Sawan Public School, Bhatti New Delhi Mines, Asola Village, New Delhi Pan:Aappd9702P (Appellant) (Respondent)

house property. Thus section 23 provides the formula for ascertaining the annual value of property in the following manner : "23. Annual value how determined.—(1

COMMISSIONER OF INCOME TAX DELHI CENTRAL III vs. MONI KUMAR SUBBA

house property. Thus Section 23 provides the formula for ascertaining the annual value of property in the following manner: “Section 23 ANNUAL VALUE HOW DETERMINED. (1

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

23. With respect to the claim of deduction of Rs 1,70,00,000/- of construction cost of Kautilya Marg Property Delhi, he proposed to allow the claim of the assessee. 24. With respect to the claim of purchase / construction of house property for deduction u/s 54 of the income tax act, assessee submitted that the property purchased in Mumbai

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

23. With respect to the claim of deduction of Rs 1,70,00,000/- of construction cost of Kautilya Marg Property Delhi, he proposed to allow the claim of the assessee. 24. With respect to the claim of purchase / construction of house property for deduction u/s 54 of the income tax act, assessee submitted that the property purchased in Mumbai

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

23. With respect to the claim of deduction of Rs 1,70,00,000/- of construction cost of Kautilya Marg Property Delhi, he proposed to allow the claim of the assessee. 24. With respect to the claim of purchase / construction of house property for deduction u/s 54 of the income tax act, assessee submitted that the property purchased in Mumbai

DLF CYBER CITY DEVELOPERS LTD.,GURGAON vs. ADDL. CIT, GURGAON

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

House Property'. 6. That the Ld. CIT(A) erred in law in upholding the manner of allocation of expenses to eligible and non- eligible income without any cogent reason while computing the income eligible for deduction u/s 801A(4) of the Act, at Page 62-63 of the assessment order. 7. That on the facts and in the circumstances

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

House Property'. 6. That the Ld. CIT(A) erred in law in upholding the manner of allocation of expenses to eligible and non- eligible income without any cogent reason while computing the income eligible for deduction u/s 801A(4) of the Act, at Page 62-63 of the assessment order. 7. That on the facts and in the circumstances

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

House Property'. 6. That the Ld. CIT(A) erred in law in upholding the manner of allocation of expenses to eligible and non- eligible income without any cogent reason while computing the income eligible for deduction u/s 801A(4) of the Act, at Page 62-63 of the assessment order. 7. That on the facts and in the circumstances

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

House Property'. 6. That the Ld. CIT(A) erred in law in upholding the manner of allocation of expenses to eligible and non- eligible income without any cogent reason while computing the income eligible for deduction u/s 801A(4) of the Act, at Page 62-63 of the assessment order. 7. That on the facts and in the circumstances

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

House Property'. 6. That the Ld. CIT(A) erred in law in upholding the manner of allocation of expenses to eligible and non- eligible income without any cogent reason while computing the income eligible for deduction u/s 801A(4) of the Act, at Page 62-63 of the assessment order. 7. That on the facts and in the circumstances

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

House Property'. 6. That the Ld. CIT(A) erred in law in upholding the manner of allocation of expenses to eligible and non- eligible income without any cogent reason while computing the income eligible for deduction u/s 801A(4) of the Act, at Page 62-63 of the assessment order. 7. That on the facts and in the circumstances

PR. COMMISSIONER OF INCOME TAX-1 vs. AGGARWAL PLASTO CHEM PVT.LTD.

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

house at Vasant Vihar, New Delhi, purchased and acquired by Smt Alka Rajvansh W/o Shri Homi Rajvansh, in the name of her company M/s Mahanivesh Oil and Foods Pvt Ltd, against the consideration value of ₹ 1,35,00,000/- excluding stamp duty and Corpn. tax of ₹ 10,80,000/- is the Proceeds of Crime, which is likely to be concealed

THE PR. COMMISSIONER OF INCOME TAX -4 vs. GALGOTIA BOOKS & DEPARTMENT STORE PVT. LTD.

The appeals are allowed

Bench: HON'BLE MR. JUSTICE SANJIV KHANNA,HON'BLE MR. JUSTICE CHANDER SHEKHAR

property in question) and the enforcement authority (the State). Since the second of the above species of "proceeds of crime" uses the expression "such property", the qualifying word being "such", it is vivid that the "property" referred to here is equivalent to the one indicated by the first kind. The only difference is that it is not the same property

PRINCIPAL COMMISSIONER OF INCOME TAX-8 vs. SALDI CHITS PVT. LTD.,

The appeals are allowed

Bench: HON'BLE MR. JUSTICE S. RAVINDRA BHAT,HON'BLE MR. JUSTICE A. K. CHAWLA

property in question) and the enforcement authority (the State). Since the second of the above species of "proceeds of crime" uses the expression "such property", the qualifying word being "such", it is vivid that the "property" referred to here is equivalent to the one indicated by the first kind. The only difference is that it is not the same property

CIT vs. GS PHARMBUTOR PVT LTD

The appeal is allowed to the aforesaid extent

Bench: HON'BLE MR. JUSTICE BADAR DURREZ AHMED,HON'BLE MR. JUSTICE R.V.EASWAR

23-24, 2nd Floor, Mittal Chambers, Nariman Point, Mumbal – 21. For the attention of Mr. D. K. Sinha, Asst Director. Subject : Reply to your Summons Ref: - Your Summons dated 2nd August 2010: Ref No. T-3/81-B/2008/AD(DKS) Dear Sir, 1. I am in receipt of your above-mentioned Summons. In compliance thereof, I wish to state as under

PADAM CHAND GUPTA,NEW DELHI vs. ACIT, CIRCLE- 35(1), NEW DELHI

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

Bench: Sh. Shamim Yahya & Sh. Sudhir Kumarassessment Year: 2014-15 Padam Chand Gupta, Vs. Assistant Commissioner 1-C Court Road Civil Lines Of Income Tax, Income Tax Delhi 110054 Circle 35(1) New Delhi Pan No. Aanpg5120C (Appellant) (Respondent)

property income has to be assessed under section 23(1)(a). Section 23(1)(a) & (b) being relevant provisions otherwise the house

ACIT, NEW DELHI vs. SMT. AMITA GARG, NEW DELHI

In the result, appeals of the department and the Cross

Bench: Sh. N. K. Saini, Am & Sh. H. S. Sidhu, Jm

1. "The order of the Ld. CIT(Appeals) is not correct in law and facts. 2. On the facts and in the circumstances of the case, the Id. CIT(A) has erred in deleting the addition of Rs. 3685518/- made by the Assessing Officer on account of notional income from house property in view of provision of section 23

DCIT, NEW DELHI vs. SH. RANJANA GARG, NEW DELHI

In the result, appeals of the department and the Cross

Bench: Sh. N. K. Saini, Am & Sh. H. S. Sidhu, Jm

1. "The order of the Ld. CIT(Appeals) is not correct in law and facts. 2. On the facts and in the circumstances of the case, the Id. CIT(A) has erred in deleting the addition of Rs. 3685518/- made by the Assessing Officer on account of notional income from house property in view of provision of section 23