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

9 December 2009, whether the claim of the assessee has resulted into any escapement of income or the learned AO has any reason to believe that income of the assessee has escaped assessment. The learned assessing officer has noted that assessee has claimed deduction Under Section 54EC for Rs. 1 crore whereas according to the proviso the deduction is only

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

9 December 2009, whether the claim of the assessee has resulted into any escapement of income or the learned AO has any reason to believe that income of the assessee has escaped assessment. The learned assessing officer has noted that assessee has claimed deduction Under Section 54EC for Rs. 1 crore whereas according to the proviso the deduction is only

DIRECTOR OF INCOME TAX

House Cooper, Sweden and, therefore, the A.O. erroneously brought to tax the impugned income of `74,02,47,865/- consisting of business income of `33,99,69,471/- and royalties of `40,02,78,394/-. The CIT(A) partly allowed this ground, and held that while no business profit can be computed in the absence of PE of the assessee

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

v. CIT [1961] 42 ITR 49 (SC) Section 22 of the Income-tax Act, 1961 [corresponding to section 9 of the Indian Income-tax Act, 1922] Income from house property :- Chargeable as - Assessment year 1953-54 - Whether income derived by assessee company from tenants of shops and stalls was income received from property falling under section 9

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

v. CIT [1961] 42 ITR 49 (SC) Section 22 of the Income-tax Act, 1961 [corresponding to section 9 of the Indian Income-tax Act, 1922] Income from house property :- Chargeable as - Assessment year 1953-54 - Whether income derived by assessee company from tenants of shops and stalls was income received from property falling under section 9

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

v. CIT [1961] 42 ITR 49 (SC) Section 22 of the Income-tax Act, 1961 [corresponding to section 9 of the Indian Income-tax Act, 1922] Income from house property :- Chargeable as - Assessment year 1953-54 - Whether income derived by assessee company from tenants of shops and stalls was income received from property falling under section 9

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

v. CIT [1961] 42 ITR 49 (SC) Section 22 of the Income-tax Act, 1961 [corresponding to section 9 of the Indian Income-tax Act, 1922] Income from house property :- Chargeable as - Assessment year 1953-54 - Whether income derived by assessee company from tenants of shops and stalls was income received from property falling under section 9

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

v. CIT [1961] 42 ITR 49 (SC) Section 22 of the Income-tax Act, 1961 [corresponding to section 9 of the Indian Income-tax Act, 1922] Income from house property :- Chargeable as - Assessment year 1953-54 - Whether income derived by assessee company from tenants of shops and stalls was income received from property falling under section 9

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

v. CIT [1961] 42 ITR 49 (SC) Section 22 of the Income-tax Act, 1961 [corresponding to section 9 of the Indian Income-tax Act, 1922] Income from house property :- Chargeable as - Assessment year 1953-54 - Whether income derived by assessee company from tenants of shops and stalls was income received from property falling under section 9

YOSHIO KUBO vs. COMMISSIONER OF INCOME TAX

The appeals are disposed of accordingly

9. For the above reasons, we hold that cash payments by an assessee to his/its employees do not fall within the ambit of Section 40(a)(v) or Section 40A(5)(a)(ii), as the 2013:DHC:3744-DB ITA 441/2003 and connected cases Page 27 case may be. We disagree with the opinion of the Kerala High Court

YOSHIO KUBO vs. COMMISSIONER OF INCOME TAX

The appeals are disposed of accordingly

9. For the above reasons, we hold that cash payments by an assessee to his/its employees do not fall within the ambit of Section 40(a)(v) or Section 40A(5)(a)(ii), as the 2013:DHC:3744-DB ITA 441/2003 and connected cases Page 27 case may be. We disagree with the opinion of the Kerala High Court

M/S ACTIVE SECURITIES LIMITED,NEW DELHI vs. ITO, NEW DELHI

The appeals are allowed

Bench: Shri G.S. Pannu, Hon’Ble & Shri Anubhav Sharma

section 24(a) of the Act. Ground No. 5: Without prejudice to the above grounds, the CIT(A) has erred in confirming the disallowance amounting to Rs. 2,81,24,572 on account of depreciation on assets other than building by treating entire income from leasing as income from house property without dividing the same proportionately between income from house

ARYA SMAJ MODEL TOWN,DELHI vs. PCIT, CENTRAL -3, NEW DELHI

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

housing the college, hostel and to\nprovide other facilities to the students who are studying in the College.\nThe College is recognized by the Medical Council of India, State of\nKarnataka and all other statutory authorities. Therefore, it cannot be\nsaid that the Trust is not genuine. Admittedly, the students are being\nadmitted every year. Students are studying

COMMISSIONER OF INCOME TAX DELHI CENTRAL III vs. MONI KUMAR SUBBA

9. Section 23(1)(a) is relevant for determining the income from house property and concerns determination of the annual letting value of such property. That provision talks of "the sum for which the property might reasonably be expected to let from year to year." This contemplates the possible rent that the property might fetch and not certainly the interest

EBRO INDIA PVT.LTD. ,DELHI vs. ACIT CIRCLE-7(1), DELHI

In the result, the ground no 4 raised by the assessee is allowed

Bench: SHRI S.RIFAUR RAHMAN (Accountant Member), SHRI YOGESH KUMAR U.S. (Accountant Member)

9 “3. A perusal of the impugned assessment order would show that, variation has been made in the taxable income to the prejudice of the assessee. 3.1. The record shows that, the assessee had claimed exemptions under Section 11/12 of the Act, and thus, declared its income in the relevant AY i.e., 2018-2019, as ―Nil. 3.2. The Assessing Officer

SHARDA EDUCATIONAL TRUST ,GREATER NOIDA vs. ITO (TDS), INTERNATIONAL TAXATION, NOIDA

In the result, ITA.No.3377/Del

Bench: Shri R.K. Panda & Shri Anubhav Sharma

House Box 17709, Kaduna, Nigeria Ph/pical Address: Jangpura B 156 Telephone No.: 08130817386 Email: mbsadmission @gmail. com 15. Confidentiality and Integrity a) Party B undertakes to keep confidential and not to deal with any of the information, documents, materials and details acquired under this Agreement for other than (he sole purpose of Party B's performance of his/her obligations under

SHARDA EDUCATIONAL TRUST ,GREATER NOIDA vs. ITO (TDS), INTERNATIONAL TAXATION, NOIDA

In the result, ITA.No.3377/Del

Bench: Shri R.K. Panda & Shri Anubhav Sharma

House Box 17709, Kaduna, Nigeria Ph/pical Address: Jangpura B 156 Telephone No.: 08130817386 Email: mbsadmission @gmail. com 15. Confidentiality and Integrity a) Party B undertakes to keep confidential and not to deal with any of the information, documents, materials and details acquired under this Agreement for other than (he sole purpose of Party B's performance of his/her obligations under

SHARDA EDUCATIONAL TRUST ,GREATER NOIDA vs. ITO (TDS), INTERNATIONAL TAXATION, NOIDA

In the result, ITA.No.3377/Del

Bench: Shri R.K. Panda & Shri Anubhav Sharma

House Box 17709, Kaduna, Nigeria Ph/pical Address: Jangpura B 156 Telephone No.: 08130817386 Email: mbsadmission @gmail. com 15. Confidentiality and Integrity a) Party B undertakes to keep confidential and not to deal with any of the information, documents, materials and details acquired under this Agreement for other than (he sole purpose of Party B's performance of his/her obligations under

SHARDA EDUCATIONAL TRUST ,GREATER NOIDA vs. ITO (TDS), INTERNATIONAL TAXATION, NOIDA

In the result, ITA.No.3377/Del

Bench: Shri R.K. Panda & Shri Anubhav Sharma

House Box 17709, Kaduna, Nigeria Ph/pical Address: Jangpura B 156 Telephone No.: 08130817386 Email: mbsadmission @gmail. com 15. Confidentiality and Integrity a) Party B undertakes to keep confidential and not to deal with any of the information, documents, materials and details acquired under this Agreement for other than (he sole purpose of Party B's performance of his/her obligations under