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

houses assets (new property) where as deduction u/s 54 is allowable only for ‘one’ property. Against reopening his arguments are :- i. He submitted that deduction u/s 54EC of the act is squarely covered in favour of the assessee by the decision of Honourable Madras High Court in CIT versus C Jaichander 370 ITR 579, wherein it has been held that

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

houses assets (new property) where as deduction u/s 54 is allowable only for ‘one’ property. Against reopening his arguments are :- i. He submitted that deduction u/s 54EC of the act is squarely covered in favour of the assessee by the decision of Honourable Madras High Court in CIT versus C Jaichander 370 ITR 579, wherein it has been held that

AMBIENCE DEVELOPERS AND INFRASTRUCTURE PRIVATE LIMITED,DELHI vs. PCIT (CENTRAL), DELHI-2 JHANDEWALAN, NEW DELHI, DELHI

Section 263 of the Act not\nbeing satisfied i.e. the assessment order is erroneous (in addition\nto being prejudicial to the interest of revenue), failing which the\nproposed exercise of any revisionary powers thereunder would\nalso be without lawful jurisdiction for the same reason. It also\nsettled law vide Smt. Ujjam Bai v. State of Uttar Pradesh. [1963]1\nS.C.R

AMBIENCE DEVELOPERS AND INFRASTRUCTURE PRIVATE LIMITED,DELHI vs. PCIT (CENTRAL) DELHI-2, JHANDEWALAN NEW DELHI, DELHI

Section 263 of the Act not\nbeing satisfied i.e. the assessment order is erroneous (in addition\nto being prejudicial to the interest of revenue), failing which the\nproposed exercise of any revisionary powers thereunder would\nalso be without lawful jurisdiction for the same reason. It also\nsettled law vide Smt. Ujjam Bai v. State of Uttar Pradesh. [1963]1\nS.C.R

DLF LIMITED,NEW DELHI vs. NATIONAL FACELESS ASSESSMENT CENTRE, NEW DELHI

In the result, the appeal filed by the assessee stand allowed for statistical purposes

Bench: SHRI SHAMIM YAHYA, ACCOUNTANT MEMBER, SHRI SUDHIR PAREEK (Judicial Member)

house property’ to ‘income from business or profession’ and thereby making addition of Rs. 21,27,10,118/-. Accordingly, the addition of Rs. 21,27,10,118/- made by the AO is deleted.” In view of the aforesaid finding, we find that Ld. CIT(A) has given a correct finding and as submitted by the Ld. AR for the assessee

DCIT, CIRCLE-7(1), DELHI vs. DLF LIMITED, DELHI

In the result, the appeal filed by the assessee stand allowed for statistical purposes

Bench: SHRI SHAMIM YAHYA, ACCOUNTANT MEMBER, SHRI SUDHIR PAREEK, JUDICIAL MEMBER | ITA NO. 674/Del/2024 | | A.YR.: 2018-19 | | DLF LIMITED, | | 9TH FLOOR, DLF CENTRE, | | SANSAD MARG, | | NEW DELHI – 110 001 | | (PAN: AAACD3494N) | | (APPELLANT) | | VS. NATIONAL FACELESS ASSESSMENT CENTRE, NEW DELHI | | (RESPONDENT) | AND | ITA NO. 712/DEL/2024 | | AY 2018-19 | | DCIT, CIRCLE 7(1), | | NEW DELHI | | ROOM NO. 404, 4TH FLOOR, | | C.R. BUILDING, | | I.P. ESTATE, NEW DELHI – 2 | | (RESPONDENT) | | VS.

house property’ to ‘income from business or profession’ and thereby making addition of Rs. 21,27,10,118/-. Accordingly, the addition of Rs. 21,27,10,118/- made by the AO is deleted.” In view of the aforesaid finding, we find that Ld. CIT(A) has given a correct finding and as submitted by the Ld. AR for the assessee

RAJEEVA RANJAN,MAHARASHTRA vs. ACIT, CIRCLE- 52(1), NEW DELHI

In the result, the appeal of the assessee is allowed

Bench: Dr. B. R. R. Kumarms. Astha Chandra

77,71,949/- and the same has been claimed as deduction u/s 54 of the Act on account of investment made in five house properties, the detail of which is given above and also in the assessment order. In the assessment order, the AO has observed that the above five properties are situated at different locations. The AO has also

INDIAN NATIONAL CONG. (I) AICC vs. C.I.T.- XI

house property, which is reflected in its returns. That apart, Section 56 (1) of the Act makes it clear that even if there was no income under clauses A to E of Section 14 of the Act, there could be income from other sources under clause F of Section 14 of the Act. 83. Mr Singh is right

GOPAL DAS ESTATES & HOUSING PVT. LTD.,NEW DELHI vs. DCIT, NEW DELHI

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

Bench: Shri G.S.Pannu & Shri Kul Bharat

house property, however, claimed under the head “profit and gains of the business of the assessee”. The additions made on account of disallowance of compensation, disallowance of bank guarantee commission were also deleted. Further, the Ld.CIT(A) deleted the disallowance made u/s 14A of the Act and addition of Rs. 77,24,546/- made by the Assessing Officer on account

SNEH GUPTA,NEW DELHI vs. ACIT, CIRCLE-32(1), DELHI, DELHI

In the result, the appeal filed by the assessee is allowed on both counts on merit as well as jurisdictional issue raised by the assessee in the additional ground of appeal

Bench: SHRI SATBEER SINGH GODARA (Judicial Member), SHRI S. RIFAUR RAHMAN (Accountant Member)

77,830/- and exemption claimed u/s 54F for Rs.21,66,00,000/-. PB 179-180 is the copy of show cause notice dated 23.10.2018. PB 181-182 is the copy of assessee's reply dated 13.11.2018 before Ld. AO against the show cause notice stating that she purchased the house property for construction and spent entire consideration in purchase

ACIT, NEW DELHI vs. M/S. JAY BHARAT MARUTI LTD., NEW DELHI

In the result, the appeal is allowed

Bench: Shri G.S. Pannu, Hon’Ble & Shri Saktijit Deyassessment Year: 2005-06 & Assessment Year: 2006-07 Acit, Vs. M/S. Jay Bharat Maruti Ltd., Circle-4(1), 601, Hemkunt Chamber, New Delhi 89-Nehru Place, New Delhi Pan :Aaacj2021K (Appellant) (Respondent) & C.O. No.113/Del/2012 [Arising Out Of Ita No.908/Del/2012] Assessment Year: 2005-06 & C.O. No.114/Del/2012 [Arising Out Of Ita No.909/Del/2012] Assessment Year: 2006-07 M/S. Jay Bharat Maruti Ltd., Vs. Acit, 601, Hemkunt Chamber, Circle-4(1), 89-Nehru Place, New Delhi New Delhi Pan :Aaacj2021K (Appellant) (Respondent) & Assessment Year: 2005-06 M/S. Jay Bharat Maruti Ltd., Vs. Acit, Neel House, Lado Sarai, Circle-4(1), Opp. Qutab Minar, Mehrauli, New Delhi New Delhi Pan :Aaacj2021K (Appellant) (Respondent)

house property has attained finality. Since, the claim of the assessee has prevailed in past as well as subsequent assessment years, by applying the rule of 19 | P a g e ITA Nos.908 & 909/Del/2012; C.O. Nos.113 & 114/Del/2012 ITA Nos.4672/Del/2011; 2180 & 1885/Del/2017 consistency; we hold that no interference is called for on this issue. Ground raised is dismissed. 28. In ground

M/S. JAY BHARAT MARUTI LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, the appeal is allowed

Bench: Shri G.S. Pannu, Hon’Ble & Shri Saktijit Deyassessment Year: 2005-06 & Assessment Year: 2006-07 Acit, Vs. M/S. Jay Bharat Maruti Ltd., Circle-4(1), 601, Hemkunt Chamber, New Delhi 89-Nehru Place, New Delhi Pan :Aaacj2021K (Appellant) (Respondent) & C.O. No.113/Del/2012 [Arising Out Of Ita No.908/Del/2012] Assessment Year: 2005-06 & C.O. No.114/Del/2012 [Arising Out Of Ita No.909/Del/2012] Assessment Year: 2006-07 M/S. Jay Bharat Maruti Ltd., Vs. Acit, 601, Hemkunt Chamber, Circle-4(1), 89-Nehru Place, New Delhi New Delhi Pan :Aaacj2021K (Appellant) (Respondent) & Assessment Year: 2005-06 M/S. Jay Bharat Maruti Ltd., Vs. Acit, Neel House, Lado Sarai, Circle-4(1), Opp. Qutab Minar, Mehrauli, New Delhi New Delhi Pan :Aaacj2021K (Appellant) (Respondent)

house property has attained finality. Since, the claim of the assessee has prevailed in past as well as subsequent assessment years, by applying the rule of 19 | P a g e ITA Nos.908 & 909/Del/2012; C.O. Nos.113 & 114/Del/2012 ITA Nos.4672/Del/2011; 2180 & 1885/Del/2017 consistency; we hold that no interference is called for on this issue. Ground raised is dismissed. 28. In ground

DCIT, NEW DELHI vs. M/S. JAY BHARAT MARUTI LTD., NEW DELHI

In the result, the appeal is allowed

Bench: Shri G.S. Pannu, Hon’Ble & Shri Saktijit Deyassessment Year: 2005-06 & Assessment Year: 2006-07 Acit, Vs. M/S. Jay Bharat Maruti Ltd., Circle-4(1), 601, Hemkunt Chamber, New Delhi 89-Nehru Place, New Delhi Pan :Aaacj2021K (Appellant) (Respondent) & C.O. No.113/Del/2012 [Arising Out Of Ita No.908/Del/2012] Assessment Year: 2005-06 & C.O. No.114/Del/2012 [Arising Out Of Ita No.909/Del/2012] Assessment Year: 2006-07 M/S. Jay Bharat Maruti Ltd., Vs. Acit, 601, Hemkunt Chamber, Circle-4(1), 89-Nehru Place, New Delhi New Delhi Pan :Aaacj2021K (Appellant) (Respondent) & Assessment Year: 2005-06 M/S. Jay Bharat Maruti Ltd., Vs. Acit, Neel House, Lado Sarai, Circle-4(1), Opp. Qutab Minar, Mehrauli, New Delhi New Delhi Pan :Aaacj2021K (Appellant) (Respondent)

house property has attained finality. Since, the claim of the assessee has prevailed in past as well as subsequent assessment years, by applying the rule of 19 | P a g e ITA Nos.908 & 909/Del/2012; C.O. Nos.113 & 114/Del/2012 ITA Nos.4672/Del/2011; 2180 & 1885/Del/2017 consistency; we hold that no interference is called for on this issue. Ground raised is dismissed. 28. In ground

ACIT, NEW DELHI vs. M/S. JAY BHARAT MARUTI LTD., NEW DELHI

In the result, the appeal is allowed

Bench: Shri G.S. Pannu, Hon’Ble & Shri Saktijit Deyassessment Year: 2005-06 & Assessment Year: 2006-07 Acit, Vs. M/S. Jay Bharat Maruti Ltd., Circle-4(1), 601, Hemkunt Chamber, New Delhi 89-Nehru Place, New Delhi Pan :Aaacj2021K (Appellant) (Respondent) & C.O. No.113/Del/2012 [Arising Out Of Ita No.908/Del/2012] Assessment Year: 2005-06 & C.O. No.114/Del/2012 [Arising Out Of Ita No.909/Del/2012] Assessment Year: 2006-07 M/S. Jay Bharat Maruti Ltd., Vs. Acit, 601, Hemkunt Chamber, Circle-4(1), 89-Nehru Place, New Delhi New Delhi Pan :Aaacj2021K (Appellant) (Respondent) & Assessment Year: 2005-06 M/S. Jay Bharat Maruti Ltd., Vs. Acit, Neel House, Lado Sarai, Circle-4(1), Opp. Qutab Minar, Mehrauli, New Delhi New Delhi Pan :Aaacj2021K (Appellant) (Respondent)

house property has attained finality. Since, the claim of the assessee has prevailed in past as well as subsequent assessment years, by applying the rule of 19 | P a g e ITA Nos.908 & 909/Del/2012; C.O. Nos.113 & 114/Del/2012 ITA Nos.4672/Del/2011; 2180 & 1885/Del/2017 consistency; we hold that no interference is called for on this issue. Ground raised is dismissed. 28. In ground

M/S. JAY BHARAT MARUTI LTD.,NEW DELHI vs. DCIT, NEW DELHI

In the result, the appeal is allowed

Bench: Shri G.S. Pannu, Hon’Ble & Shri Saktijit Deyassessment Year: 2005-06 & Assessment Year: 2006-07 Acit, Vs. M/S. Jay Bharat Maruti Ltd., Circle-4(1), 601, Hemkunt Chamber, New Delhi 89-Nehru Place, New Delhi Pan :Aaacj2021K (Appellant) (Respondent) & C.O. No.113/Del/2012 [Arising Out Of Ita No.908/Del/2012] Assessment Year: 2005-06 & C.O. No.114/Del/2012 [Arising Out Of Ita No.909/Del/2012] Assessment Year: 2006-07 M/S. Jay Bharat Maruti Ltd., Vs. Acit, 601, Hemkunt Chamber, Circle-4(1), 89-Nehru Place, New Delhi New Delhi Pan :Aaacj2021K (Appellant) (Respondent) & Assessment Year: 2005-06 M/S. Jay Bharat Maruti Ltd., Vs. Acit, Neel House, Lado Sarai, Circle-4(1), Opp. Qutab Minar, Mehrauli, New Delhi New Delhi Pan :Aaacj2021K (Appellant) (Respondent)

house property has attained finality. Since, the claim of the assessee has prevailed in past as well as subsequent assessment years, by applying the rule of 19 | P a g e ITA Nos.908 & 909/Del/2012; C.O. Nos.113 & 114/Del/2012 ITA Nos.4672/Del/2011; 2180 & 1885/Del/2017 consistency; we hold that no interference is called for on this issue. Ground raised is dismissed. 28. In ground

ADDL.CIT, SPECIAL RANGE-3, NEW DELHI vs. DELHI TOURISM TRANSPORTATION AND DEVELOPMENT CORPORATION LTD., NEW DELHI

In the result, Appeal filed by the Department in ITA No

Bench: SHRI N. K. BILLAIYA (Accountant Member), SHRI YOGESH KUMAR U.S. (Judicial Member)

77,592/- was filed on 30.09.2015. The case was selected for scrutiny. The AO has completed the assessment u/s 143(3) vide order dated 25.12.2017 after disallowing capital reserve of Rs.8,02,16,000/-, claim of payment of advance excise u/s 43B on liquor trade at Rs.7,85,53,053/- disallowance of leave encashment Rs.82,16,920/- , disallowance of proportionate

ADDL.CIT, SPECIAL RANGE-3, NEW DELHI vs. DELHI TOURISM TRANSPORTATION AND DEVELOPMENT CORPORATION LTD., NEW DELHI

In the result, Appeal filed by the Department in ITA No

Bench: SHRI N. K. BILLAIYA (Accountant Member), SHRI YOGESH KUMAR U.S. (Judicial Member)

77,592/- was filed on 30.09.2015. The case was selected for scrutiny. The AO has completed the assessment u/s 143(3) vide order dated 25.12.2017 after disallowing capital reserve of Rs.8,02,16,000/-, claim of payment of advance excise u/s 43B on liquor trade at Rs.7,85,53,053/- disallowance of leave encashment Rs.82,16,920/- , disallowance of proportionate

ADDI. CIT SPL. RANGE-3, NEW DELHI vs. DELHI TOURISM & TRANSPORTATION DEVELOPMENT CORPORATION LTD. , NEW DELHI

In the result, Appeal filed by the Department in ITA No

Bench: SHRI N. K. BILLAIYA (Accountant Member), SHRI YOGESH KUMAR U.S. (Judicial Member)

77,592/- was filed on 30.09.2015. The case was selected for scrutiny. The AO has completed the assessment u/s 143(3) vide order dated 25.12.2017 after disallowing capital reserve of Rs.8,02,16,000/-, claim of payment of advance excise u/s 43B on liquor trade at Rs.7,85,53,053/- disallowance of leave encashment Rs.82,16,920/- , disallowance of proportionate