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

C Jaichander 370 ITR 579, wherein it has been held that Where assessee invested a sum of Rs. 50 lakhs each in two different financial years, within a period of six months from date of transfer of capital asset, he was eligible for deduction under section 54EC. He submitted that for this reason, the claim of the assessee is correct

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

C Jaichander 370 ITR 579, wherein it has been held that Where assessee invested a sum of Rs. 50 lakhs each in two different financial years, within a period of six months from date of transfer of capital asset, he was eligible for deduction under section 54EC. He submitted that for this reason, the claim of the assessee is correct

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

C Jaichander 370 ITR 579, wherein it has been held that Where assessee invested a sum of Rs. 50 lakhs each in two different financial years, within a period of six months from date of transfer of capital asset, he was eligible for deduction under section 54EC. He submitted that for this reason, the claim of the assessee is correct

PR. COMMISSIONER OF INCOME TAX, CENTRAL-1, DELHI vs. SMT. SANGEETA SAWHNEY

Bench: HON'BLE MR. JUSTICE VIBHU BAKHRU,HON'BLE MR. JUSTICE TEJAS KARIA

275]. The Court clarified that if an award is contrary to the substantive provisions of law of India, in effect, it is in contravention of Section 28(1)(a) of the 1996 Act. Similarly, violating terms of the contract, in effect, is in contravention of Section 28(3) of the 1996 Act. 68. In Ssangyong Engg. & Construction

MS. TRIPTA KAUR,NEW DELHI vs. ACIT, NEW DELHI

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

Bench: Shri R. K. Panda & Ms. Suchitra Kambleassessment Year : 2012-13 Tripta Kaur, Acit, Central Circle- 14, A-29, Friends Colony-East, New Delhi. Vs. New Delhi.

house property, income from business or profession, capital gain and income from other sources. The group is also engaged in the real estate dealings. Besides above, Smt. Tripta Kaur is doing the business of purchase/ sale of painting/ art works/ sculptures etc. in the name and style M/s GALLERIE NVYA. The Assessing Officer completed the assessment determining the total income

PR. COMMISSIONER OF INCOME TAX -6 vs. NATIONAL HOUSING BANK

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

property and to contract and by that name, sue and be sued. The object with which the National Housing Bank (herein after referred to as NHB/ Bank for short] was established is to provide long term finance for construction and/or purchase of residential housing or residential township-cum-housing development or slum clearance projects. The entire capital

PR.COMMISSIONER OF INCOME TAX -6 vs. NATIONAL HOUSING BANK

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

property and to contract and by that name, sue and be sued. The object with which the National Housing Bank (herein after referred to as NHB/ Bank for short] was established is to provide long term finance for construction and/or purchase of residential housing or residential township-cum-housing development or slum clearance projects. The entire capital

PR.COMMISSIONER OF INCOME TAX-6 vs. NATIONAL HOUSING BANK

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

property and to contract and by that name, sue and be sued. The object with which the National Housing Bank (herein after referred to as NHB/ Bank for short] was established is to provide long term finance for construction and/or purchase of residential housing or residential township-cum-housing development or slum clearance projects. The entire capital

PR. COMMISSIONER OF INCOME TAX-6 vs. NATIONAL HOUSING BANK

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

property and to contract and by that name, sue and be sued. The object with which the National Housing Bank (herein after referred to as NHB/ Bank for short] was established is to provide long term finance for construction and/or purchase of residential housing or residential township-cum-housing development or slum clearance projects. The entire capital

PR.COMMISSIONER OF INCOME TAX-6 vs. NATIONAL HOUSING BANK

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

property and to contract and by that name, sue and be sued. The object with which the National Housing Bank (herein after referred to as NHB/ Bank for short] was established is to provide long term finance for construction and/or purchase of residential housing or residential township-cum-housing development or slum clearance projects. The entire capital

GEORGE KUTTY,NEW DELHI vs. DCIT, CIRCLE-13(1), NEW DELHI

In the result, the appeal of the assessee is allowed

Bench: Shri Kul Bharat[Assessment Year : 2010-11] George Kutty, Vs Dcit, C/O-M/S. Oasis Tours India (P.) Circle-13(1), Ltd., C-40, Middle Circle, Dwarka New Delhi. Sadan, Connaught Place, New Delhi-110001. Pan-Aajpk4005H Appellant Respondent Appellant By Shri Manish Malik, Adv. Respondent By Shri Om Parkash, Sr.Dr Date Of Hearing 11.08.2022 Date Of Pronouncement 24.08.2022

house property, and thus the AO brought to tax LTCG and also levied penalty u/s 271(1)(c) ; Notes that CIT(A) had deleted the penalty by applying the ratio laid down by Karnataka HC in Manjunatha Cotton and Ginning Factory case; Further takes note of Bangalore ITAT ruling in case of P.M.Abdulla, wherein it was clarified that the said

QUIPPO TELECOM INFRASTRUCTURE PVT. LTD.,NEW DELHI vs. ACIT, NEW DELHI

In the result, the appeal of the assessee in ITA number 2191/del/2017 for assessment year 2010 – 11 is allowed

Bench: Shri Amit Shukla & Shri Prashant Maharishi

house property, as before him the appellant is stated to have received the rental income from Punjab National Bank for provision of ATM machines and except the agreement, no other evidences were furnished. He further held that interest income of Rs. 2982000/- being interest on fixed deposit receipt is chargeable to tax as income from other sources

QUIPPO TELECOM INFRASTRUCTURE PVT. LTD.,NEW DELHI vs. ACIT, NEW DELHI

In the result, the appeal of the assessee in ITA number 2191/del/2017 for assessment year 2010 – 11 is allowed

Bench: Shri Amit Shukla & Shri Prashant Maharishi

house property, as before him the appellant is stated to have received the rental income from Punjab National Bank for provision of ATM machines and except the agreement, no other evidences were furnished. He further held that interest income of Rs. 2982000/- being interest on fixed deposit receipt is chargeable to tax as income from other sources

GY AVIATION LEASE 1908 CO. LIMITED,DELHI vs. ACIT, CIRLCE-1(3)(1) INT. TAXATION, DELHI

In the result, appeals of the assesses are allowed, pro tanto

Bench: Shri Vikas Awasthy & Shri Avdhesh Kumar Mishraआअसं.994/िद"ी/2025(िन.व. 2022-23) Kosi Aviation Leasing Ltd., C/O Dmd Advocates, 30, Nizamuddin East, New Delhi 110013 ...... अपीलाथ"/Appellant Pan : Aaick-6199-B बनाम Vs. Assistant Commissioner Of Income Tax, International Taxation, Circle 2(1)(2), Civic Centre, ....."ितवादी/Respondent Minto Road, New Delhi 110002 आअसं.1027/िद"ी/2025(िन.व. 2022-23) Hoohly Aviation Leasing Ltd., C/O Dmd Advocates, 30, Nizamuddin East, New Delhi 110013 ...... अपीलाथ"/Appellant Pan : Aafch-6609-C बनाम Vs. Assistant Commissioner Of Income Tax, International Taxation, Circle 2(1)(1), Civic Centre, ....."ितवादी/Respondent Minto Road, New Delhi 110002 आअसं.1070/िद"ी/2025(िन.व. 2022-23) Luni Aviation Leasing Ltd., C/O Dmd Advocates, 30, Nizamuddin East, New Delhi 110013 ...... अपीलाथ"/Appellant Pan : Aaecl-5180-H बनाम Vs. Assistant Commissioner Of Income Tax, International Taxation, Circle 2(2)(1), Civic Centre, ....."ितवादी/Respondent Minto Road, New Delhi 110002

House, 1, Burlington Road, Dublin-4, Ireland-DO4C5Y6 ...... अपीलाथ"/Appellant PAN : AACCW-3658-D बनाम Vs. Deputy Commissioner of Income Tax, International Taxation, Circle 3(1)(1), Civic Centre, ....."ितवादी/Respondent Minto Road, New Delhi 110002 26 ITA No.994/Del/2025 (A.Y.2022-23)& Other Group Appeals SA No. 501/Del/2025 (Arising out of ITA No.1162/Del/2025, A.Y 2022-23) DAE Leasing (Ireland

GY AVIATION LEASE 1907 CO. LIMITED,NEW DELHI vs. ACIT, INT. TAX. 1(3)(1), DELHI

In the result, appeals of the assesses are allowed, pro tanto

Bench: Shri Vikas Awasthy & Shri Avdhesh Kumar Mishraआअसं.994/िद"ी/2025(िन.व. 2022-23) Kosi Aviation Leasing Ltd., C/O Dmd Advocates, 30, Nizamuddin East, New Delhi 110013 ...... अपीलाथ"/Appellant Pan : Aaick-6199-B बनाम Vs. Assistant Commissioner Of Income Tax, International Taxation, Circle 2(1)(2), Civic Centre, ....."ितवादी/Respondent Minto Road, New Delhi 110002 आअसं.1027/िद"ी/2025(िन.व. 2022-23) Hoohly Aviation Leasing Ltd., C/O Dmd Advocates, 30, Nizamuddin East, New Delhi 110013 ...... अपीलाथ"/Appellant Pan : Aafch-6609-C बनाम Vs. Assistant Commissioner Of Income Tax, International Taxation, Circle 2(1)(1), Civic Centre, ....."ितवादी/Respondent Minto Road, New Delhi 110002 आअसं.1070/िद"ी/2025(िन.व. 2022-23) Luni Aviation Leasing Ltd., C/O Dmd Advocates, 30, Nizamuddin East, New Delhi 110013 ...... अपीलाथ"/Appellant Pan : Aaecl-5180-H बनाम Vs. Assistant Commissioner Of Income Tax, International Taxation, Circle 2(2)(1), Civic Centre, ....."ितवादी/Respondent Minto Road, New Delhi 110002

House, 1, Burlington Road, Dublin-4, Ireland-DO4C5Y6 ...... अपीलाथ"/Appellant PAN : AACCW-3658-D बनाम Vs. Deputy Commissioner of Income Tax, International Taxation, Circle 3(1)(1), Civic Centre, ....."ितवादी/Respondent Minto Road, New Delhi 110002 26 ITA No.994/Del/2025 (A.Y.2022-23)& Other Group Appeals SA No. 501/Del/2025 (Arising out of ITA No.1162/Del/2025, A.Y 2022-23) DAE Leasing (Ireland

WEST IV ENGINES (IRELAND) LIMITED,FOREIGN vs. DEPUTY COMMISSIONER OF INCOME TAX, INTERNATIONAL TAX CIRCLE 3(1)(1), DELHI

In the result, appeals of the assesses are allowed, pro tanto

Bench: Shri Vikas Awasthy & Shri Avdhesh Kumar Mishraआअसं.994/िद"ी/2025(िन.व. 2022-23) Kosi Aviation Leasing Ltd., C/O Dmd Advocates, 30, Nizamuddin East, New Delhi 110013 ...... अपीलाथ"/Appellant Pan : Aaick-6199-B बनाम Vs. Assistant Commissioner Of Income Tax, International Taxation, Circle 2(1)(2), Civic Centre, ....."ितवादी/Respondent Minto Road, New Delhi 110002 आअसं.1027/िद"ी/2025(िन.व. 2022-23) Hoohly Aviation Leasing Ltd., C/O Dmd Advocates, 30, Nizamuddin East, New Delhi 110013 ...... अपीलाथ"/Appellant Pan : Aafch-6609-C बनाम Vs. Assistant Commissioner Of Income Tax, International Taxation, Circle 2(1)(1), Civic Centre, ....."ितवादी/Respondent Minto Road, New Delhi 110002 आअसं.1070/िद"ी/2025(िन.व. 2022-23) Luni Aviation Leasing Ltd., C/O Dmd Advocates, 30, Nizamuddin East, New Delhi 110013 ...... अपीलाथ"/Appellant Pan : Aaecl-5180-H बनाम Vs. Assistant Commissioner Of Income Tax, International Taxation, Circle 2(2)(1), Civic Centre, ....."ितवादी/Respondent Minto Road, New Delhi 110002

House, 1, Burlington Road, Dublin-4, Ireland-DO4C5Y6 ...... अपीलाथ"/Appellant PAN : AACCW-3658-D बनाम Vs. Deputy Commissioner of Income Tax, International Taxation, Circle 3(1)(1), Civic Centre, ....."ितवादी/Respondent Minto Road, New Delhi 110002 26 ITA No.994/Del/2025 (A.Y.2022-23)& Other Group Appeals SA No. 501/Del/2025 (Arising out of ITA No.1162/Del/2025, A.Y 2022-23) DAE Leasing (Ireland

GY AVIATION LEASE 1722 CO., LIMITED,DUBLIN, IRELAND vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE 1(3)(1), INTERNATIONAL TAX, DELHI, DUBLIN, IRELAND

In the result, appeals of the assesses are allowed, pro tanto

Bench: Shri Vikas Awasthy & Shri Avdhesh Kumar Mishraआअसं.994/िद"ी/2025(िन.व. 2022-23) Kosi Aviation Leasing Ltd., C/O Dmd Advocates, 30, Nizamuddin East, New Delhi 110013 ...... अपीलाथ"/Appellant Pan : Aaick-6199-B बनाम Vs. Assistant Commissioner Of Income Tax, International Taxation, Circle 2(1)(2), Civic Centre, ....."ितवादी/Respondent Minto Road, New Delhi 110002 आअसं.1027/िद"ी/2025(िन.व. 2022-23) Hoohly Aviation Leasing Ltd., C/O Dmd Advocates, 30, Nizamuddin East, New Delhi 110013 ...... अपीलाथ"/Appellant Pan : Aafch-6609-C बनाम Vs. Assistant Commissioner Of Income Tax, International Taxation, Circle 2(1)(1), Civic Centre, ....."ितवादी/Respondent Minto Road, New Delhi 110002 आअसं.1070/िद"ी/2025(िन.व. 2022-23) Luni Aviation Leasing Ltd., C/O Dmd Advocates, 30, Nizamuddin East, New Delhi 110013 ...... अपीलाथ"/Appellant Pan : Aaecl-5180-H बनाम Vs. Assistant Commissioner Of Income Tax, International Taxation, Circle 2(2)(1), Civic Centre, ....."ितवादी/Respondent Minto Road, New Delhi 110002

House, 1, Burlington Road, Dublin-4, Ireland-DO4C5Y6 ...... अपीलाथ"/Appellant PAN : AACCW-3658-D बनाम Vs. Deputy Commissioner of Income Tax, International Taxation, Circle 3(1)(1), Civic Centre, ....."ितवादी/Respondent Minto Road, New Delhi 110002 26 ITA No.994/Del/2025 (A.Y.2022-23)& Other Group Appeals SA No. 501/Del/2025 (Arising out of ITA No.1162/Del/2025, A.Y 2022-23) DAE Leasing (Ireland

GANDAK AVIATION LEASING LIMITED,IRELAND vs. ACIT INTERNATIONAL TAXATION CIRCLE 1(3)(1) NEW DELHI, NEW DELHI

In the result, appeals of the assesses are allowed, pro tanto

Bench: Shri Vikas Awasthy & Shri Avdhesh Kumar Mishraआअसं.994/िद"ी/2025(िन.व. 2022-23) Kosi Aviation Leasing Ltd., C/O Dmd Advocates, 30, Nizamuddin East, New Delhi 110013 ...... अपीलाथ"/Appellant Pan : Aaick-6199-B बनाम Vs. Assistant Commissioner Of Income Tax, International Taxation, Circle 2(1)(2), Civic Centre, ....."ितवादी/Respondent Minto Road, New Delhi 110002 आअसं.1027/िद"ी/2025(िन.व. 2022-23) Hoohly Aviation Leasing Ltd., C/O Dmd Advocates, 30, Nizamuddin East, New Delhi 110013 ...... अपीलाथ"/Appellant Pan : Aafch-6609-C बनाम Vs. Assistant Commissioner Of Income Tax, International Taxation, Circle 2(1)(1), Civic Centre, ....."ितवादी/Respondent Minto Road, New Delhi 110002 आअसं.1070/िद"ी/2025(िन.व. 2022-23) Luni Aviation Leasing Ltd., C/O Dmd Advocates, 30, Nizamuddin East, New Delhi 110013 ...... अपीलाथ"/Appellant Pan : Aaecl-5180-H बनाम Vs. Assistant Commissioner Of Income Tax, International Taxation, Circle 2(2)(1), Civic Centre, ....."ितवादी/Respondent Minto Road, New Delhi 110002

House, 1, Burlington Road, Dublin-4, Ireland-DO4C5Y6 ...... अपीलाथ"/Appellant PAN : AACCW-3658-D बनाम Vs. Deputy Commissioner of Income Tax, International Taxation, Circle 3(1)(1), Civic Centre, ....."ितवादी/Respondent Minto Road, New Delhi 110002 26 ITA No.994/Del/2025 (A.Y.2022-23)& Other Group Appeals SA No. 501/Del/2025 (Arising out of ITA No.1162/Del/2025, A.Y 2022-23) DAE Leasing (Ireland