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

24(a) of the Act. 5.1 That the Ld CIT (A), erred in upholding the issue regarding 'Signage Income, to be assessed as 'Income from Other Sources', without distinguishing the order of his predecessor, for the AY 2010-11, wherein held to be assessable as 'Income from House Property'. 6. That the Ld. CIT(A) erred in law in upholding

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

24(a) of the Act. 5.1 That the Ld CIT (A), erred in upholding the issue regarding 'Signage Income, to be assessed as 'Income from Other Sources', without distinguishing the order of his predecessor, for the AY 2010-11, wherein held to be assessable as 'Income from House Property'. 6. That the Ld. CIT(A) erred in law in upholding

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

24(a) of the Act. 5.1 That the Ld CIT (A), erred in upholding the issue regarding 'Signage Income, to be assessed as 'Income from Other Sources', without distinguishing the order of his predecessor, for the AY 2010-11, wherein held to be assessable as 'Income from House Property'. 6. That the Ld. CIT(A) erred in law in upholding

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

24(a) of the Act. 5.1 That the Ld CIT (A), erred in upholding the issue regarding 'Signage Income, to be assessed as 'Income from Other Sources', without distinguishing the order of his predecessor, for the AY 2010-11, wherein held to be assessable as 'Income from House Property'. 6. That the Ld. CIT(A) erred in law in upholding

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

24(a) of the Act. 5.1 That the Ld CIT (A), erred in upholding the issue regarding 'Signage Income, to be assessed as 'Income from Other Sources', without distinguishing the order of his predecessor, for the AY 2010-11, wherein held to be assessable as 'Income from House Property'. 6. That the Ld. CIT(A) erred in law in upholding

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

section 24(a) of the Act. Ground No. 5: Without prejudice to the above grounds, the CIT(A) has erred in confirming the disallowance amounting to Rs. 2,81,24,572 on account of depreciation on assets other than building by treating entire income from leasing as income from house property

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

house property remaining vacant. Section 24(1)(ix) was deleted from statute vide Finance Act, 2001 and simultaneously section 23(1)(c) was inserted

SELECT INFRASTRUCTURE PVT. LTD.,,NEW DELHI vs. ADDL. CIT, NEW DELHI

In the result, appeal of the assessee for the assessment year

Bench: Shri G. D. Agrawal & Shri Amit Shukla

house property” under section 22; and consequently, the assessee is liable for deduction under section 24(a) and other deductions

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 and there from a sum of Rs. 1 557414/– was deducted as standard rate of 30% under section 24

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

24-07-1976, which discusses the amendments made vide Taxation Laws (Amendment) 23 Act, 1975. The circular provides the following in relation to amendment made to section 23: “TAXATION LAWS (AMENDMENT) ACT, 1975-III Determination of annual value where the rent received exceeds the municipal valuation - Section 23(1) 9. Hitherto, the annual value of house property

RAJEEV VASUDEVA,DELHI vs. DCIT CIRCLE INTERNATIONAL TAXATION 3(1) , DELHI

In the result, appeal of the assessee is partly allowed

Bench: us, the only effective issue to be decided in this appeal is as to whether the learned CIT(A) was justified in confirming the action of the learned AO in denying the claim of exemption under section 54F of the Act in the facts and circumstances of the instant case.

house property. Section 23 lays down the manner of determining the annual value. Section 24 lays down allowable deduction from

SH. ANKIT MITTAL,GURGAON vs. ITO, GURGAON

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

Bench: Sh. N. K. Saini

property and also 100% deduction u/s 24(1)(vi). The above contention of the assesses is not correct because it’s very clear from the plain reading of the section 22 to 24 for determining the income from House

TUBE ROSE ESTATES PVT. LTD. ,NEW DELHI vs. ACIT, CIRCLE- 16(1), NEW DELHI

In the result ground number one – three of the appeal of the assessee are allowed

Bench: Shri Sudhanshu Srivastavaa N D Shri Prashant Maharishi(Through Video Conferencing)

house property of Rs.4,56,70,064/- and has also claimed deduction @ 30% on the same under Section 24 of the Act. It has also

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

house property and concerns determination of the annual letting value of such property. That provision talks of "the sum for which the property might reasonably be expected to let from year to year." This contemplates the possible rent that the property might fetch and not certainly the interest in fixed deposit that may be placed by the tenant with

SMT. RITU SINGH,DELHI vs. ITO, NEW DELHI

In the result, appeal of the assessee is allowed

Bench: Shri Shamim Yahya & Ms. Astha Chandraasstt. Year: 2012-13

house property. The CBDT Circular No. 1 of 2015 dated 21.01.2015 explains that the amendment applies in relation to assessment year 2015-16 and subsequent years. Consequently, the amendment will not apply to the case of the assessee which pertains to AY 2012-13. 22. It may be stated that the Ld. AO did not record any finding

DCIT, CIRCLE- 4(1), NEW DELHI vs. KANWAL MOHAN SINGH SEHGAL, NEW DELHI

In the result, the appeal of the Revenue is dismissed

Bench: Shri N.K. Billaiya & Ms. Astha Chandraassessment Year: 2015-16

property sold during the year under section 24(b) of the Act under the head “House Property”. Hence it cannot

ACIT, NEW DELHI vs. SMT. SEEMA SOBTI, NEW DELHI

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

Bench: Sh. H.S. Sidhu & Shri Prashant Maharishiassessment Year: 2012-13

section 24(a) of the Income Tax Act resulting into the net addition of Rs. 14,07,474/- (Rs. 64,64,112/-; add maintenance charges (as per para 8v of the Lease Deed) Rs. 20,10,672/- and total rent received comes to Rs. 8474784/- and less deduction u/s. 24(a) Rs. 25,42,435) and net income from house

ASHOO DECOR INDIA,DELHI vs. ACIT, NEW DELHI

In the result ground No. 4 of the appeal of the assessee is dismissed

Bench: Shri H.S.Sidhu & Shri Prashant Maharishiashoo Décor India, Vs. Acit, Plot No. 1, Streel No. 1, Range-33, New Delhi Anad Parbat Indl. Area, Delhi Pan:Aaifa8801D (Appellant) (Respondent)

24 of the act. Your honor the provisions of section 23 are subject to the provisions of section 22. The text of the sections is reiterated for a ready reference. The same reads as under: 23. (1) For the purposes of section 22, the annual value of any property shall be deemed to be- 50The annual value of property consisting

SH. BRIJ BHUSHAN TAYAL,NEW DELHI vs. ACIT, NEW DELHI

In the result, the Appeal filed by the Assessee stands allowed

Bench: Shri H.S. Sidhu

PROPERTY The existing provisions contained in sub-section (1) of section 54, inter alia, provide that where capital gain arises from the transfer of a long-term capital asset, being 11 buildings or lands appurtenant thereto, and being a residential house, and the assessee within a period of one year before or two years after the date of transfer, purchases