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

89,411 from the 'Eligible income' qualifying for deduction u/s 801A(4) of the Act. 3.1 That the Ld CIT(A) erred in law in upholding the order of Ld. Assessing Officer in assessing Signage income under the head 'Income from Other Sources as against Income from House Property', and denying deduction u/s 24(a) of the Act. DLF Cyber

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

89,411 from the 'Eligible income' qualifying for deduction u/s 801A(4) of the Act. 3.1 That the Ld CIT(A) erred in law in upholding the order of Ld. Assessing Officer in assessing Signage income under the head 'Income from Other Sources as against Income from House Property', and denying deduction u/s 24(a) of the Act. DLF Cyber

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

89,411 from the 'Eligible income' qualifying for deduction u/s 801A(4) of the Act. 3.1 That the Ld CIT(A) erred in law in upholding the order of Ld. Assessing Officer in assessing Signage income under the head 'Income from Other Sources as against Income from House Property', and denying deduction u/s 24(a) of the Act. DLF Cyber

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

89,411 from the 'Eligible income' qualifying for deduction u/s 801A(4) of the Act. 3.1 That the Ld CIT(A) erred in law in upholding the order of Ld. Assessing Officer in assessing Signage income under the head 'Income from Other Sources as against Income from House Property', and denying deduction u/s 24(a) of the Act. DLF Cyber

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

89,411 from the 'Eligible income' qualifying for deduction u/s 801A(4) of the Act. 3.1 That the Ld CIT(A) erred in law in upholding the order of Ld. Assessing Officer in assessing Signage income under the head 'Income from Other Sources as against Income from House Property', and denying deduction u/s 24(a) of the Act. DLF Cyber

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

Housing Finance & Leasing Company Ltd. (supra) has already considered the ratio of the judgment of Hon'ble Supreme Court in the case of Chennai Properties & Investments Limited (supra) and found it inapplicable to the given facts; and, in any case, it is not the case of the assessee that any fresh facts have arisen which would require any review

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

Housing Finance & Leasing Company Ltd. (supra) has already considered the ratio of the judgment of Hon'ble Supreme Court in the case of Chennai Properties & Investments Limited (supra) and found it inapplicable to the given facts; and, in any case, it is not the case of the assessee that any fresh facts have arisen which would require any review

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

Housing Finance & Leasing Company Ltd. (supra) has already considered the ratio of the judgment of Hon'ble Supreme Court in the case of Chennai Properties & Investments Limited (supra) and found it inapplicable to the given facts; and, in any case, it is not the case of the assessee that any fresh facts have arisen which would require any review

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)

house property, he disallowed 34.72% of expenditure of Rs.3,86,85,361/- i.e. Rs.1,34,31,551/- as expenses related to the income from maintenance and reimbursement related to the property owned by the assessee. Out of this disallowance of Rs.55,18,715/- Assessing Officer further granted 30% of standard deduction of Rs.30,89,784/- and made the net disallowance

SANJIV AHUJA,DELHI vs. ITO (INTERNATIONAL TAXATION), DELHI

In the result, the appeal is allowed

Bench: Shri R.K. Pandaasstt. Year 2012-13

house] so purchased or constructed (hereafter in this section referred to as the new asset)], the difference between the amount of the capital gain and the cost of the new asset shall be charged under section 45 as the income of the previous year; and for the purpose of computing in respect of the new asset any capital gain arising

DEEPAK KATHARI,KANPUR vs. ACIT, CC-5, NEW DELHI

In the result, the appeal filed by the assessee is allowed

Bench: SHRI S. RIFAUR RAHMAN (Accountant Member), SHRI VIMAL KUMAR (Judicial Member)

House Property". That in the case of the appellant the L.D A.O has claimed the Residential Property at "New Friends Colony, New Delhi" to be owned by the appellant, though on facts the said property has been claimed as a "Self Occupied" property by the mother of the appellant in her return filed by her Legal heir. The copy

DCIT CENTRAL CIRCLE 05 , DELHI vs. DEEPAK KOTHARI , KANPUR

In the result, the appeal filed by the assessee is allowed

Bench: SHRI S. RIFAUR RAHMAN (Accountant Member), SHRI VIMAL KUMAR (Judicial Member)

House Property". That in the case of the appellant the L.D A.O has claimed the Residential Property at "New Friends Colony, New Delhi" to be owned by the appellant, though on facts the said property has been claimed as a "Self Occupied" property by the mother of the appellant in her return filed by her Legal heir. The copy

DCIT, CIRCLE- 4(1), NEW DELHI vs. KANWAL MOHAN SINGH SEHGAL, NEW DELHI

In the result, the appeal of the Revenue is dismissed

Bench: Shri N.K. Billaiya & Ms. Astha Chandraassessment Year: 2015-16

house for Rs. 5,80,00,000/- and Computed Long Term Capital Gain (‘LTCG’) of Rs. 1,94,89,939/- out of which he claimed deduction of Rs. 1,70,00,000/- under section 54 of the Income Tax Act, 1961 (the “Act”) and declared taxable capital gain of Rs. 24,89,939/-. While computing capital gain

MICROSOFT INDIA (R&D) PVT. LTD.,NEW DELHI vs. DCIT, CIRCLE-16(2), NEW DELHI

In the result, appeal of the assessee for Assessment Year 2014-15 and 2015-16 is partly allowed

Bench: Shri Kul Bharat & Shri Prashant Maharishi(Through Video Conferencing)

House Property' instead of „Income from Other Sources‟ completely disregarding the provisions of Section 56 of the Act and decisions of Hon'ble Jurisdictional High Court. a. That on the facts and in law, the Ld. AO and Hon‟ble DRP erred in not allowing proportionate tax depreciation and expenses under section ('u/s') 57 of the Act amounting to Rs.16

ITO, NEW DELHI vs. M/S ANSAL HOUSING & CONSTRUCTION LTD., NEW DELHI

In the result, the cross-objection filed by the assessee is dismissed

Bench: Shri G.S.Pannu & Shri Kul Bharat[Assessment Year : 2007-08] Dcit, Vs Ansal Housing & Construction Ltd., Central Circle-20, Ugf-15, Indraprastha Building, 21, New Delhi. Barakhamba Road, New Delhi. Pan-Aaaca0377R Appellant Respondent

properties claimed as being vacant farm lands needs verification by the AO for ascertaining the correctness of the claim that no house/building was constructed on such lands. Thus the issue is hereby, restored to AO. If it is found true that during the relevant time, no house property/commercial space were constructed thereon. No addition would be called for. Thus, Ground

NITIN GUPTA,NEW DELHI vs. ITO WARD - 34(4), NEW DELHI

In the result, the appeal filed by the assessee is partly allowed

Bench: Shri R.K. Pandaassessment Year: 2016-17 Nitin Gupta, Vs. Ito, C-1/23, Ashok Vihar Phase-Ii, Ward-34(4), New Delhi. New Delhi. Pan: Aeapg4313C (Appellant) (Respondent) Assessee By : Shri Rohit Tiwari, Advocate Revenue By : Shri R.K. Gupta, Sr. Dr Date Of Hearing : 26.08.2021 Date Of Pronouncement : 04.10.2021 Order

sections 23 to 27 under the head ‘Income from house property.’ Since the assessee, according to the AO, did not furnish any explanation on this issue, the AO determined the income from the house property situated in USA at Rs.4,80,678/- by computing as under:- 2 3. Similarly, the AO observed from the narration of the credit side entries

SHIVANI MADAN,NEW DELHI vs. ACIT CENTRAL CIRCLE-05, NEW DELHI

In the result, the both the appeals of assessee are dismissed

Bench: Shri Chandra Mohan Garg & Dr. B.R.R. Kumar

house property income in the hands of the assessee is not justified. Referring to section 26 of the Act, the Ld. AR submitted that since shares of husband and wife who are co-owner of the property are definite and ascertainable, share of the assessee in the income from property being contribution of 5.4% only towards the purchase cost

SHIVANI MADAN,NEW DELHI vs. ACIT CENTRAL CIRCLE-05, NEW DELHI

In the result, the both the appeals of assessee are dismissed

Bench: Shri Chandra Mohan Garg & Dr. B.R.R. Kumar

house property income in the hands of the assessee is not justified. Referring to section 26 of the Act, the Ld. AR submitted that since shares of husband and wife who are co-owner of the property are definite and ascertainable, share of the assessee in the income from property being contribution of 5.4% only towards the purchase cost

CIT vs. FRANCIS WACZIARG

house property’. 13. Once it is held that the income from the three properties is taxable under the head ‘income from business or profession’ depreciation has to be allowed under the provisions of Section 32 of the Act. Similarly, disallowance of 80% from the expenses deleted by the CIT(Appeals)/tribunal has been explained and supported by cogent