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

73,670/- derived from 'Non Eligible Business' of the assessee as 'Income from Other Sources' against 'Income from House Property claimed by the assessee and thereby denying deduction u/s 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

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

73,670/- derived from 'Non Eligible Business' of the assessee as 'Income from Other Sources' against 'Income from House Property claimed by the assessee and thereby denying deduction u/s 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

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

73,670/- derived from 'Non Eligible Business' of the assessee as 'Income from Other Sources' against 'Income from House Property claimed by the assessee and thereby denying deduction u/s 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

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

73,670/- derived from 'Non Eligible Business' of the assessee as 'Income from Other Sources' against 'Income from House Property claimed by the assessee and thereby denying deduction u/s 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

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

73,670/- derived from 'Non Eligible Business' of the assessee as 'Income from Other Sources' against 'Income from House Property claimed by the assessee and thereby denying deduction u/s 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

JAI BHIKSHU CREDIT AND HOLDING LTD.,,NEW DELHI vs. DCIT, NEW DELHI

The appeal of the assessee are allowed

Bench: Smt Beena A Pillai & Shri Prashant Maharishijai Bhikshu Credit & Holding Vs. Dcit, Ltd, F-591, Sarita Vihar, Circle-13(1), New Delhi New Delhi Pan: Aaacj0774F (Appellant) (Respondent)

section 73, with effect from 1- 4-1988 are as under : Company whose gross total income consists mainly of income which is chargeable under the head— i) Interest on securities; (ii) Income from house property

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

property in question) and the enforcement authority (the State). Since the second of the above species of "proceeds of crime" uses the expression "such property", the qualifying word being "such", it is vivid that the "property" referred to here is equivalent to the one indicated by the first kind. The only difference is that it is not the same property

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

property in question) and the enforcement authority (the State). Since the second of the above species of "proceeds of crime" uses the expression "such property", the qualifying word being "such", it is vivid that the "property" referred to here is equivalent to the one indicated by the first kind. The only difference is that it is not the same property

M/S. A K CAPITAL MARKETS LTD.,NEW DELHI vs. DCIT, NEW DELHI

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

Bench: Sh. N. K. Sainiita No. 6859/Del/2014 : Asstt. Year : 2006-07 A. K. Capital Markets Ltd., Vs Dcit, Central Circle-2, 609, 6Th Floor, Antriksh Bhawan, 22, New Delhi Kasturba Gandhi Marg, Connaught Place, New Delhi-110001 (Appellant) (Respondent) Pan No. Aadca9960D Assessee By : Sh. Ved Jain, Adv. Revenue By : Sh. Sarabhjit Singh, Dr Date Of Hearing : 16.09.2015 Date Of Pronouncement : 04.12.2015 Order

4 A.K. Capital Markets Ltd. 5. Facts of the case in brief are that a search and seizure operations were carried out u/s 132 and survey was conducted u/s 133A of the Income Tax Act, 1961 (hereinafter referred to as the Act) in the case of M/s A.K. Capital Services Ltd., its group companies, directors of such companies and their

M/S SUCON INDIA LTD.,,FARIDABAD vs. ACIT, NEW DELHI

In the result, appeal of the assessee is partly allowed

Bench: Sh. H.S. Sidhu & Sh. O.P. Kantassessment Year: 2009-10 Vs. Acit, Circle-Ii, New Delhi M/S. Sucon India Ltd., B-532, Nehru Ground Nit, Faridabad Pan : Aagcs9603L (Appellant) (Respondent) Appellant By Dr. Rakesh Gupta & Sh. Amit Kumar, Advocates Respondent By Sh. S.S. Rana, Cit(Dr) Date Of Hearing 29.11.2016 Date Of Pronouncement 18.01.2017 Order Per O.P. Kant, A.M.:

Section 73(4), in the case of a company, business of purchase and sale of shares is deemed to be speculation business. However, certain companies are excluded from this Explanation, which are: (i) a company whose gross total income consists mainly of income which is chargeable under the heads 'Interest on securities', 'Income from house property

SUCON INDIA LTD.,FARIDABAD vs. DCIT, CIRCLE- II, FARIDABAD

In the result, appeal by the assessee stands allowed

house property", "Capital gains" and «Income from other sources"], or a company (the principal business of which is the business of trading in shares or banking] or the granting of loans and advances) consists in the purchase and sale of shares of other companies, such company shall, for the purposes of this section, be deemed to be carrying

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, NEW DELHI vs. SHRI RAMIT VOHRA, NEW DELHI

In the result, the appeal is partly allowed for statistical purposes

Bench: Shri H.S. Sidhu & Shri Anadee Nath Misshra

property (residential house) and thus the determination of annual value was not justified. E] Photocopy of Trading, Profit & Loss Account for the year ending 31st March, 2009 and Balance Sheet on that date along with Audit Report on the prescribed Form 3CD for the audit held u/s 44AB of the Income Tax Act, 1961. 7. Explanation/ confirmation of the parties

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

4). In the instant case, the Arbitrator entered upon the reference on 08.07.2016. Permissible period of 12 months within which the award could have been validly pronounced under Section 29A(1) lapsed on 07.07.2017. However, both the contesting parties continued with the proceedings. None of the parties objected to the arbitration proceedings conducted by the Arbitrator beyond 07.07.2017. From

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

DCIT, CIRCLE- 8(1), NEW DELHI vs. EBIX SOFTWARE INDIA PVT. LTD., NEW DELHI

Bench: Shri R.K. Panda & Ms Suchitra Kamble

house whereas the figure of Rs.24,87,12,630/- pertains to non-eligible units and also incurred by non-eligible units which has not been claimed while computing income of the assessee company. Therefore, the observation of the AO with respect to differential figures of inadmissible expenses of non-SEZ units in consolidated computation of income and individual computation

ACIT, CIRCLE-7(1), NEW DELHI vs. DLF COMMERCIAL DEVELOPERS LTD., NEW DELHI

In the result, all the appeals of the Revenue are dismissed

Bench: Shri Amit Shukla & Shri Prashant Maharishi

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