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

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

41 of 105 such encumbrance to be “void”, this also leading to confiscation of the property in favour of the State. 70. The eventual touchstone, even for the special court, dealing with the offence of money-laundering (and connected offences) remains that the property attached, or to be confiscated, must be such as was "involved in" or "used

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

41 of 105 such encumbrance to be “void”, this also leading to confiscation of the property in favour of the State. 70. The eventual touchstone, even for the special court, dealing with the offence of money-laundering (and connected offences) remains that the property attached, or to be confiscated, must be such as was "involved in" or "used

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

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 f20J2} 206 Taxman 584/ 19 taxmann. Cam 316, which was decided by the Bombay High Court on similar lines as in the assessee's case before us. A perusal of above Judgment, it clearly reveals that hon'able High Court has taken and interpreted the definition of housing project u/s 80HHA to arrived at the concept of composite housing

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

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.

41,66,420/-. The assessee made investments of ½ share in Plot no. 10, Ground Floor & First Floor, Padmini Enclave, Delhi and claimed 2 | P a g e exemption under section 54F of the Act to the tune of Rs.3,83,55,102/- and remaining amount of Rs.2,58,11,318/- was duly declared as long-term capital gain

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

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 1941 i.e rent. 5.4.2 The assessee has asserted that the proposition laid down in CBDT Circular No.9/2014 is applicable to its case ITA No. 6879./Del/2018 M/s. R Cube Projects P. Ltd. 4 and hence the revenue from its operations should be treated as business income following the principles laid down for infrastructure projects. The aforementioned circular does

M/S. ANSAL PROPERTIES & INFRASTRUCTURE LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, the appeal of the assessee is partly allowed

Bench: Shri G.S. Pannu & Before Shri G.S. Pannu & Before Shri G.S. Pannu Before Shri G.S. Pannu & Ms. Suchitra Kamblems. Suchitra Kamble Ms. Suchitra Kamble Ms. Suchitra Kamble

House Property. SURPLUS AND SECTION 47(iv) 2.1. That in the facts and circumstances of the case, learned CIT(A) erred in confirming the rejection of the appellant's claim that the surplus of Rs. 70. 06 crores arising on transfer of its capital asset namely infrastructure assets to its wholly owned subsidiary, M/s Ansal API Infrastructure

M/S. ANSAL PROPERTIES & INFRASTRUCTURE LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, the appeal of the assessee is partly allowed

Bench: Shri G.S. Pannu & Before Shri G.S. Pannu & Before Shri G.S. Pannu Before Shri G.S. Pannu & Ms. Suchitra Kamblems. Suchitra Kamble Ms. Suchitra Kamble Ms. Suchitra Kamble

House Property. SURPLUS AND SECTION 47(iv) 2.1. That in the facts and circumstances of the case, learned CIT(A) erred in confirming the rejection of the appellant's claim that the surplus of Rs. 70. 06 crores arising on transfer of its capital asset namely infrastructure assets to its wholly owned subsidiary, M/s Ansal API Infrastructure

M/S. ANSAL PROPERTIES & INFRASTRUCTURE LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, the appeal of the assessee is partly allowed

Bench: Shri G.S. Pannu & Before Shri G.S. Pannu & Before Shri G.S. Pannu Before Shri G.S. Pannu & Ms. Suchitra Kamblems. Suchitra Kamble Ms. Suchitra Kamble Ms. Suchitra Kamble

House Property. SURPLUS AND SECTION 47(iv) 2.1. That in the facts and circumstances of the case, learned CIT(A) erred in confirming the rejection of the appellant's claim that the surplus of Rs. 70. 06 crores arising on transfer of its capital asset namely infrastructure assets to its wholly owned subsidiary, M/s Ansal API Infrastructure

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)

41,773/- on account of maintenance income and reimbursement of income in that assessment order, was partly allowed. 02 The assessee is aggrieved with that order and, therefore, has effectively raised three grounds of appeal:- ITA 3136/Del/2018 “l (i). That on facts and circumstances, the Id. CIT(A) was not justified in treating rental income from house property under

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

41. With respect to the ground number [2] of the appeal, he submitted that under the provisions of Section 54 (1) of the act the assessee is only entitled to the deduction of one residential house property

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

41. With respect to the ground number [2] of the appeal, he submitted that under the provisions of Section 54 (1) of the act the assessee is only entitled to the deduction of one residential house property