SMT. RADHIKA ROY,,NEW DELHI vs. DCIT, NEW DELHI

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

u/s 147 of the income tax act. ii. If, the reassessment proceedings are correctly initiated, whether the shares held by the assessee in the joint demat account are short-term capital asset or long-term capital asset and what is the ‘cost of acquisition’ and ‘period of holding’ of those shares for computation of capital gain

DCIT, NEW DELHI vs. MRS. RADHIKA ROY, NEW DELHI

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

u/s 147 of the income tax act. ii. If, the reassessment proceedings are correctly initiated, whether the shares held by the assessee in the joint demat account are short-term capital asset or long-term capital asset and what is the ‘cost of acquisition’ and ‘period of holding’ of those shares for computation of capital gain

SMT. RADHIKA ROY,,NEW DELHI vs. DCIT, NEW DELHI

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

u/s 147 of the income tax act. ii. If, the reassessment proceedings are correctly initiated, whether the shares held by the assessee in the joint demat account are short-term capital asset or long-term capital asset and what is the ‘cost of acquisition’ and ‘period of holding’ of those shares for computation of capital gain

DR. PRANNOY ROY,,NEW DELHI vs. DCIT, NEW DELHI

Bench: Shri Beena A Pillai & Shri Prashant Maharishi

u/s 147 of the income tax act. ii. If, the reassessment proceedings are correctly initiated, whether the shares held by the assessee in the joint demat account are short-term capital asset or long-term capital asset and what is the ‘cost of acquisition’ and ‘period of holding’ of those shares for computation of capital gain

SURESH KUMAR AGGARWAL,NEW DELHI vs. ACIT, CENTRAL CIRCLE-25, NEW DELHI

In the result, appeal of the assessee is partly allowed

Bench: Shri Sudhanshu Srivastava & Shri Prashant Maharishia Y 2011-12 Appellant Respondent Shri Suresh Kumar Agarwal The Assistant Commissioner Of 154, Deepali Enclave Vs. Income Tax Pitampura Central Circle -25 New Delhi New Delhi Pan :- Abvpk1318H ( Appellant ) ( Respondent ) Date Of Hearing 17-06-2020 Date Of Order 29.06.2020 Present For Assessee Shri Gautam Jain , Advocate Present For Income Tax Department :- Shri Saras Kumar Senior Departmental Representative O R D E R

capital gain on sale of the shares but has not offered same for taxation but has claimed exemption u/s 10 (38) of the act. Therefore there is a clear-cut application of mind on the information (material) received by the assessing officer having direct nexus with the belief of the escapement of income. Now the assessee has challenged that

RAMOTAR SINGH HUF,REWARI vs. ITO, WARD- 2, REWARI

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

Bench: Shri R.K. Panda & Ms Suchitra Kambleassessment Year: 2012-13 Ramotar Singh, Huf, Vs Ito, Rewari Ward-2, C/O Naresh Singh Chauhan, Advocate, Rewari. 1035-P, Sector-3, Part Ii, Near Ganeshi Lal Dharmshala, Rewari, Haryana. Pan: Aashr5279J (Appellant) (Respondent) Assessee By : Shri Gautam Jain, Advocate. Revenue By : Ms Rakhi Vimal, Sr. Dr Date Of Hearing : 16.07.2020 Date Of Pronouncement : 21.08.2020 Order Per R.K. Panda, Am:

capital gain on the land in question and if so the addition made in individual status needs to be deleted. 3. In the above background, the AO initiated reassessment proceedings u/s 147

DCIT, CIRCLE-2(2), NEW DELHI vs. ANANT RAJ LTD., NEW DELHI

The appeal is allowed partly as indicated above

Bench: Shri Amit Shukla & Shri Prashant Maharishi

capital gain on sale of the property being the plots of land and building for which the sale was cancelled by an order dated 05/06/2015 of the Hon’ble Delhi High Court. 35. As discussed above, the assessee filed a revised return of income during the course of assessment proceedings initiated by the AO u/s

DCIT, CIRCLE-2(2), NEW DELHI vs. ANANT RAJ LTD., NEW DELHI

The appeal is allowed partly as indicated above

Bench: Shri Amit Shukla & Shri Prashant Maharishi

capital gain on sale of the property being the plots of land and building for which the sale was cancelled by an order dated 05/06/2015 of the Hon’ble Delhi High Court. 35. As discussed above, the assessee filed a revised return of income during the course of assessment proceedings initiated by the AO u/s

ANANT RAJ LTD.,NEW DELHI vs. DCIT, CIRCLE-2(2), NEW DELHI

The appeal is allowed partly as indicated above

Bench: Shri Amit Shukla & Shri Prashant Maharishi

capital gain on sale of the property being the plots of land and building for which the sale was cancelled by an order dated 05/06/2015 of the Hon’ble Delhi High Court. 35. As discussed above, the assessee filed a revised return of income during the course of assessment proceedings initiated by the AO u/s

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

147 of the income tax act, 1961 initiated. Notice u/s 148 of the income tax act, 1961 is being issued.” 16. Reasons Recorded were attached with the notice u/s 148 of the act. Assessee submitted a letter dated 7 March 2012 stating that the return filed by the assessee on 26th of July 2010 may kindly be treated as return

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

147 of the income tax act, 1961 initiated. Notice u/s 148 of the income tax act, 1961 is being issued.” 16. Reasons Recorded were attached with the notice u/s 148 of the act. Assessee submitted a letter dated 7 March 2012 stating that the return filed by the assessee on 26th of July 2010 may kindly be treated as return

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

147 of the income tax act, 1961 initiated. Notice u/s 148 of the income tax act, 1961 is being issued.” 16. Reasons Recorded were attached with the notice u/s 148 of the act. Assessee submitted a letter dated 7 March 2012 stating that the return filed by the assessee on 26th of July 2010 may kindly be treated as return

RUBY SINGH,DELHI vs. DCIT, CENTRAL CIRCLE-8, NEW DELHI

In the result, all the seven captioned appeals filed by the assessee stand dismissed in the aforesaid manner

Bench: Shri Chandra Mohan Garg & Shri M. Balaganesh, Accoutant Member

reassessment proceedings u/s 147 of the Act. Therefore, the contention of the Ld. Counsel for the assessee that the deposits in the bank account cannot be mechanically assumed to be the income of the appellant also does not hold water. Therefore, the legal contentions of the Ld. Counsel for the assessee raised in Grounds of Appeal

RUBY SINGH,NEW DELHI vs. DCIT, CENTRAL CIRCLE-8, NEW DELHI

In the result, all the seven captioned appeals filed by the assessee stand dismissed in the aforesaid manner

Bench: Shri Chandra Mohan Garg & Shri M. Balaganesh, Accoutant Member

reassessment proceedings u/s 147 of the Act. Therefore, the contention of the Ld. Counsel for the assessee that the deposits in the bank account cannot be mechanically assumed to be the income of the appellant also does not hold water. Therefore, the legal contentions of the Ld. Counsel for the assessee raised in Grounds of Appeal

RUBY SINGH ,NEW DELHI vs. DCIT, CENTRAL CIRCLE-8, NEW DELHI

In the result, all the seven captioned appeals filed by the assessee stand dismissed in the aforesaid manner

Bench: Shri Chandra Mohan Garg & Shri M. Balaganesh, Accoutant Member

reassessment proceedings u/s 147 of the Act. Therefore, the contention of the Ld. Counsel for the assessee that the deposits in the bank account cannot be mechanically assumed to be the income of the appellant also does not hold water. Therefore, the legal contentions of the Ld. Counsel for the assessee raised in Grounds of Appeal

RUBY SINGH,NEW DELHI vs. DCIT, CENTRAL CIRCLE-8, NEW DELHI

In the result, all the seven captioned appeals filed by the assessee stand dismissed in the aforesaid manner

Bench: Shri Chandra Mohan Garg & Shri M. Balaganesh, Accoutant Member

reassessment proceedings u/s 147 of the Act. Therefore, the contention of the Ld. Counsel for the assessee that the deposits in the bank account cannot be mechanically assumed to be the income of the appellant also does not hold water. Therefore, the legal contentions of the Ld. Counsel for the assessee raised in Grounds of Appeal

RUBY SINGH ,NEW DELHI vs. DCIT, CENTRAL CIRCLE-8, NEW DELHI

In the result, all the seven captioned appeals filed by the assessee stand dismissed in the aforesaid manner

Bench: Shri Chandra Mohan Garg & Shri M. Balaganesh, Accoutant Member

reassessment proceedings u/s 147 of the Act. Therefore, the contention of the Ld. Counsel for the assessee that the deposits in the bank account cannot be mechanically assumed to be the income of the appellant also does not hold water. Therefore, the legal contentions of the Ld. Counsel for the assessee raised in Grounds of Appeal

RUBY SINGH,NEW DELHI vs. DCIT, CENTRAL CIRCLE-8, NEW DELHI

In the result, all the seven captioned appeals filed by the assessee stand dismissed in the aforesaid manner

Bench: Shri Chandra Mohan Garg & Shri M. Balaganesh, Accoutant Member

reassessment proceedings u/s 147 of the Act. Therefore, the contention of the Ld. Counsel for the assessee that the deposits in the bank account cannot be mechanically assumed to be the income of the appellant also does not hold water. Therefore, the legal contentions of the Ld. Counsel for the assessee raised in Grounds of Appeal