IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘F’: NEW DELHI BEFORE, SHRI S.RIFAUR RAHMAN, ACCOUNTANT MEMBER AND SHRI VIMAL KUMAR, JUDICIAL MEMBER ITA No.3210/Del/2019 (ASSESSMENT YEAR 2015-16)

Date of Hearing 16/04/2024 Date of Pronouncement 26/04/2024

ORDER

PER S.RIFAUR RAHMAN, AM:

This appeal has been filed by the Assessee against the order of Learned Commissioner of Income Tax (Appeals)-9, New Delhi [“Ld. CIT(A”, for short], dated 25/01/2019 for Assessment Year

2018-19.

2. The revised grounds raised by the Assessee are as under: “1. On the facts and circumstances of the case and in law, Ld. CIT(A) has erred in confirming the action of determining the Appellant's book profits at Rs.1,62,27,467/- as against book loss of Rs.2,15,89,896/- declared by the appellant without appreciating the fact that demerger profit of Rs. 3,78,17,363 is a capital profit and need not be treated as profit from business operations and credited to the profit or loss