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

section 80-IAB(1), qualify to be eligible for deduction there-under. That is, the lease rental is within the contemplation of the profits derived by a developer of a SEZ from the 'business' of developing it, eligible for deduction u/s. 80-IAB. It is in fact this that forms the basis of the decisions in Coimbatore Hitech Infrastructure

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

section 80-IAB(1), qualify to be eligible for deduction there-under. That is, the lease rental is within the contemplation of the profits derived by a developer of a SEZ from the 'business' of developing it, eligible for deduction u/s. 80-IAB. It is in fact this that forms the basis of the decisions in Coimbatore Hitech Infrastructure

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

section 80-IAB(1), qualify to be eligible for deduction there-under. That is, the lease rental is within the contemplation of the profits derived by a developer of a SEZ from the 'business' of developing it, eligible for deduction u/s. 80-IAB. It is in fact this that forms the basis of the decisions in Coimbatore Hitech Infrastructure

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

section 80-IAB(1), qualify to be eligible for deduction there-under. That is, the lease rental is within the contemplation of the profits derived by a developer of a SEZ from the 'business' of developing it, eligible for deduction u/s. 80-IAB. It is in fact this that forms the basis of the decisions in Coimbatore Hitech Infrastructure

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

section 80-IAB(1), qualify to be eligible for deduction there-under. That is, the lease rental is within the contemplation of the profits derived by a developer of a SEZ from the 'business' of developing it, eligible for deduction u/s. 80-IAB. It is in fact this that forms the basis of the decisions in Coimbatore Hitech Infrastructure

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

36 of 105 (7) of section 8 or section 58B or sub-section (2A) of section 60 by the Special Court; (4) Where the provisional order of attachment made under sub-section (1) of section 5 has been confirmed under sub-section (3), the Director or any other officer authorised by him in this behalf shall forthwith take the possession

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

36 of 105 (7) of section 8 or section 58B or sub-section (2A) of section 60 by the Special Court; (4) Where the provisional order of attachment made under sub-section (1) of section 5 has been confirmed under sub-section (3), the Director or any other officer authorised by him in this behalf shall forthwith take the possession

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. Accordingly, disallowance made by the Assessing Officer for the sums aggregating to Rs.18,19,71,202/- is directed to be deleted. 18. So far as the other judgments, which have been referred by the ld. CIT (A) in the impugned order as well as by the ld. D.R., we are not venturing into distinguishing the same, because

M/S. RATNA COMMERCIAL ENTERPRISES PVT. LTD.,,NEW DELHI vs. ADDL. CIT, NEW DELHI

In the result, the appeal filed by the Revenue is dismissed and the appeal filed by the assessee is allowed for statistical purposes as indicated above

Bench: Shri R.K. Panda & Shri Kuldip Singhassessment Year: 2010-11 Ratna Commercial Enterprises Pvt. Ltd., Vs Addl. Cit, 4Th Floor, Punjabi Bhawan, Range-15, 10, House Avenue, New Delhi. New Delhi. Pan: Aaacr0354B Assessment Year: 2010-11 Dcit, Vs. Ratna Commercial Enterprises Circle 21(1), Pvt. Ltd., 4Th Floor, Punjabi Bhawan, New Delhi. 10, House Avenue, New Delhi. Pan: Aaacr0354B (Appellant) (Respondent) Assessee By : Shri M.P. Rastogi, Advocate Revenue By : Shri J.K. Mishra, Cit, Dr Date Of Hearing : 05.09.2019 Date Of Pronouncement : 13.11.2019 Order Per R.K. Panda, Am: These Are Cross Appeals. The First One Is Filed By The Assessee & The Second One By The Revenue & Are Directed Against The Order Dated 22Nd April, 2015 Of The Cit(A)-11, New Delhi, Relating To Assessment Year 2010-11. Ita No.3796/Del/2015 2. The Grounds Raised By The Revenue Read As Under:-

House, New Delhi. It was further mentioned that apart from the above proceedings, assessee company had also filed two civil suits for recovery of a sum of Rs.26,26,91,544/- and Rs.41,64,47,667/- and these suits were pending before the Hon’ble Delhi High Court being CS (OS) No. 850/2007 and CS (OS) No. 1093/2008

DCIT, NEW DELHI vs. M/S. RATNA COMMERCIAL ENTERPRISES PVT. LTD., NEW DELHI

In the result, the appeal filed by the Revenue is dismissed and the appeal filed by the assessee is allowed for statistical purposes as indicated above

Bench: Shri R.K. Panda & Shri Kuldip Singhassessment Year: 2010-11 Ratna Commercial Enterprises Pvt. Ltd., Vs Addl. Cit, 4Th Floor, Punjabi Bhawan, Range-15, 10, House Avenue, New Delhi. New Delhi. Pan: Aaacr0354B Assessment Year: 2010-11 Dcit, Vs. Ratna Commercial Enterprises Circle 21(1), Pvt. Ltd., 4Th Floor, Punjabi Bhawan, New Delhi. 10, House Avenue, New Delhi. Pan: Aaacr0354B (Appellant) (Respondent) Assessee By : Shri M.P. Rastogi, Advocate Revenue By : Shri J.K. Mishra, Cit, Dr Date Of Hearing : 05.09.2019 Date Of Pronouncement : 13.11.2019 Order Per R.K. Panda, Am: These Are Cross Appeals. The First One Is Filed By The Assessee & The Second One By The Revenue & Are Directed Against The Order Dated 22Nd April, 2015 Of The Cit(A)-11, New Delhi, Relating To Assessment Year 2010-11. Ita No.3796/Del/2015 2. The Grounds Raised By The Revenue Read As Under:-

House, New Delhi. It was further mentioned that apart from the above proceedings, assessee company had also filed two civil suits for recovery of a sum of Rs.26,26,91,544/- and Rs.41,64,47,667/- and these suits were pending before the Hon’ble Delhi High Court being CS (OS) No. 850/2007 and CS (OS) No. 1093/2008

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

BCL SECURITIES PVT LTD,GURGAON vs. ACIT CIRCLE-4(1), NEW DELHI

In the result, the appeal of the assessee is allowed

Bench: Shri Amit Shukla & Shri Prashant Maharishi

property, from which income was generated was the trust property; the sale deed in favour of the assessee showed that he purchased the property as a trustee and there was a subsequent deed creating a trust which recorded a corpus of Rs. 2 lakhs left in the hands of the assessee. In this case it was held that

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 had not actually been let during the whole or any part of the previous year. As a legal fiction is created the word "actually", as used in section 23(3)(c), does not find mention in section 23(1) of the Act.” 36. As highlighted above, the three conditions as pointed out by the Hon’ble High Court

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

M/S. AT & T GLOBAL NETWORK SERVICES (INDIA) PVT. LTD.,GURGAON vs. DCIT, NEW DELHI

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

Bench: Shri I.C.Sudhir & Shri Prashant Maharishiat & T Global Network Services Dcit, (India) Pvt Ltd., Circle-2(1), Vs. Vatika Lok-1, Block-A, Gurgaon New Delhi Pan:Aafca8810L (Appellant) (Respondent) Dcit, At & T Global Network Services Circle-2(1), (India) Pvt Ltd., Vs. New Delhi Vatika Lok-1, Block-A, Gurgaon Pan:Aafca8810L (Appellant) (Respondent)

Sections of the Income tax Act, 1961 (‗the Act‘) and Rules of the Income Tax Rules, 1962 (‗the Rules‘), dealing with the issue of selecting the most appropriate method for determining the ALP of an international transaction – Relevant sections of the Act ―92. (1) Any income arising from an international transaction shall be computed having regard

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

section 27(iiib) is deleted. The Ld. Assessing officer has taxed the entire lease rent receipts of Rs.2,68,13,9357- as income from house property is against income from business as claimed by appellant. In view of the finding that the business activity of appellant is covered by circular no. 9 of 2014, assessing officer is directed to treat

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

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 -130,43,39,196 Gross total income After set-off with business loss NIL Less

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

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 -130,43,39,196 Gross total income After set-off with business loss NIL Less

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

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 -130,43,39,196 Gross total income After set-off with business loss NIL Less