DABUR INVEST CORP,NEW DELHI vs. JCIT, RANGE-46, NEW DELHI

ITA 2448/DEL/2022Status: DisposedITAT Delhi04 June 2025AY 2018-1941 pages
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What did the Tribunal hold?

The Tribunal held that the option price received by the assessee is a capital receipt. It should be adjusted against the sale consideration at the time of transfer of shares and not taxed as revenue income.

What were the facts?

The assessee received an option price as per a joint venture agreement. The Revenue treated this option price as revenue receipt, while the assessee contended it was a capital receipt to be adjusted against future share transfers.

What were the issues?

Whether the option price received by the assessee under a joint venture agreement is a capital receipt or a revenue receipt. Whether the utilization of the option money affects its character as a capital receipt.

Which sections of the Income-tax Act were involved?

Section 147,Section 263

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Cases cited in this judgment(4)Show list

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Heard together (4 matters)

ITA No. 2453/Del/2022
ITA No. 2454/Del/2022
ITA No. 2447/Del/2022
ITA No. 2448/Del/2022

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ITA Nos.2453, 2454, 2447 & 2448/DEL/2022

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “E” NEW DELHI BEFORE SHRI CHALLA NAGENDRA PRASAD, JUDICIAL MEMBER AND SHRI AVDHESH KUMAR MISHRA, ACCOUNTANT MEMBER निर्धारणवर्ष/Assessment Year: 2017-18

ACIT, Circle-46(1), Room No.106, Drum Shape Building, I.P. Estate, New Delhi. बनाम Vs. Dabur Invest Corp., 4th Floor, Punjab Bhawan, New Delhi.

अपीलार्थी Appellant PAN No.AADFD2529D प्रत्यर्थी/Respondent निर्धारणवर्ष/Assessment Year: 2018-19

ACIT, Circle-46(1), Room No.106, Drum Shape Building, I.P. Estate, New Delhi. बनाम Vs. Dabur Invest Corp., 4th Floor, Punjab Bhawan, New Delhi.

अपीलार्थी Appellant PAN No.AADFD2529D प्रत्यर्थी/Respondent निर्धारणवर्ष/Assessment Year: 2017-18

Dabur Invest Corp., 4th Floor, Punjab Bhawan, New Delhi. PAN No.AADFD2529D

अपीलार्थी Appellant बनाम Vs. JCIT, Range-46, New Delhi.

प्रत्यर्थी/Respondent निर्धारणवर्ष/Assessment Year: 2018-19

Dabur Invest Corp., 4th Floor, Punjab Bhawan, New Delhi. PAN No.AADFD2529D

अपीलार्थी Appellant बनाम Vs. JCIT, Range-46, New Delhi.

प्रत्यर्थी/Respondent

Assessee by Shri M.P. Ras

The order continues below.

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