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.,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

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

house properties in question constituted the stock-in- trade or the trading assets of the assessee firm made no difference to the question, was the income from these properties assessable under section 9 or under section 10 of the Income-tax Act. It was assessable only under section 9, and it was correctly assessed under section 9 of the Income

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. Prior to deletion, section 24(1)(ix) read as - “where the property is let and was vacant during a part of the year, that part of the annual value 6 Pavel Garg which is proportionate

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

house no.C-3/275, Vipul Khand, Gomti Nagar, Lucknow (UP); commercial shop no. SS-14, Gulmohar Complex, Section 15, Noida (UP); Factory Land & Building at A-43, Section-8, Noida, UP; Land & Building (Two storeyed) Industrial Shed and Machineries, situated at plot no. 350, Section 3, Phase-II, Industrial Growth Centre, Bawal, Haryana; Agricultural Land (7.35 acre), Khata no. 28, 55/109, Maujapur

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

house no.C-3/275, Vipul Khand, Gomti Nagar, Lucknow (UP); commercial shop no. SS-14, Gulmohar Complex, Section 15, Noida (UP); Factory Land & Building at A-43, Section-8, Noida, UP; Land & Building (Two storeyed) Industrial Shed and Machineries, situated at plot no. 350, Section 3, Phase-II, Industrial Growth Centre, Bawal, Haryana; Agricultural Land (7.35 acre), Khata no. 28, 55/109, Maujapur

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’ should be taxed as ‘business income’ and accordingly, disallowed the statutory deduction claimed by the assessee under I.T.A. No.3751, 3775&3752/D/2013 & ,5401,5402&5241/D/2014 7 section 24(a) of Rs. 8,11,43,540/-. He also disallowed 1/5th interest for pre-construction period amounting to Rs.1,32

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

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".” 20. The above section unambiguously provides that properties used for the purpose of business are outside the ambit of section 22. In the case in hand, the property on account of which addition has been made considering the deemed annual value is the registered office of the company in accordance under section 12 of the Companies

ACIT, CIRCLE- 20(2), NEW DELHI vs. RCUBE PROJECTS PVT. LTD., NEW DELHI

Bench: Sh. Shamim Yahya & Sh. Anubhav Sharma Ita No. 6879/Del/2018, A.Y. 2015-16

property, either wholly or partly, for purposes of allowability of depreciation under section 32(l)(ii) of the Act. Thus, present provisions of the Act do not allow claim of depreciation on Toll ways due to non-fulfilment of ownership criteria in such cases. 5. In view of above, Central Board of Direct Taxes, in exercise of the powers conferred

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

Section 5(1) of the PMLA, provisionally attaching the subject property. Inasmuch as the facts are not in dispute, and the issue is purely one of law, detailed allusion to the contents of the Provisional Attachment Order is eschewed. Suffice it, therefore, to reproduce, for 13 403. Dishonest misappropriation of property.— Whoever dishonestly misappropriates or converts

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 and that the amendment by the Finance (No. 2) Act, 2014 in sub-section (1) of section 54 is clarificatory/ declaratory and has retrospective operation is raised by the Ld. CIT(A) which resulted in enhancement of LTCG of Rs. 87,32

MS. SAI ASTHA EXPORTS PVT. LTD.,,NEW DELHI vs. ITO, NEW DELHI

In the result, both the appeals filed by the assessee stand allowed

Bench: Shri H.S. Sidhu

section 32(2) and, consequently, it can, be set off against taxable business profits or income under any other head for assessment year 1997-98 and seven subsequent assessment years. Therefore, the assessee's claim, in the present case, to set off unabsorbed depreciation brought forward from (assessment year 1995-96 and 1996-97) against income under 'House Property

MS. SAI ASTHA EXPORTS PVT. LTD.,,NEW DELHI vs. ITO, NEW DELHI

In the result, both the appeals filed by the assessee stand allowed

Bench: Shri H.S. Sidhu

section 32(2) and, consequently, it can, be set off against taxable business profits or income under any other head for assessment year 1997-98 and seven subsequent assessment years. Therefore, the assessee's claim, in the present case, to set off unabsorbed depreciation brought forward from (assessment year 1995-96 and 1996-97) against income under 'House Property

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

32,23,74,257 Add : Income from 550,52,65,238 house property Less : Property 25,43,443 Tax Less : Interest 73,13,20,464 Less : 623,17,72,906 Depreciation Less : Other Business Expenditure - Marketing 9,26,78,290 Service Charges - Land Lease 7,36,63,588 713,19,78,691 Rent Income from business

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

32,23,74,257 Add : Income from 550,52,65,238 house property Less : Property 25,43,443 Tax Less : Interest 73,13,20,464 Less : 623,17,72,906 Depreciation Less : Other Business Expenditure - Marketing 9,26,78,290 Service Charges - Land Lease 7,36,63,588 713,19,78,691 Rent Income from business