8 Commissioner of Gift-Tax v. Indo Traders and Agencies (P.) Ltd.

131 ITR 313High Court1981#19066 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2021 to 2024.

Sections most often in play

Section 1958 Section 11 Section 12 Section 13(2)(a)Section 13(2)(b)Section 13(3)Section 1956 Section 25 of the Companies Act

Judgments citing 8 Commissioner of Gift-Tax v. Indo Traders and Agencies (P.) Ltd.

DCIT(E), CIRCLE-1(1), NEW DELHI vs. INDIAN GRAMEEN SERVICES, NEW DELHI

In the result, the appeal of the Revenue in ITA No

ITA 104/DEL/2019[2007-08]Status: DisposedITAT Delhi15 May 2024AY 2007-08

Bench: Ms. Madhumita Roy & Shri Naveen Chandra

For Appellant: Shri Arvind Kumar, AdvFor Respondent: Shri Sandeep Kumar Mishra, Sr. DR

Section 11Section 12ASection 13(2)(a)Section 13(2)(b)Section 13(3)Section 25

…e specified concerns was adequate. The ld. CIT(A) supported his conclusion as under : “The expression 'adequate' means legally sufficient or such as is lawfully and reasonably sufficient. In the case of CCT v. Indo Traders &Agencies (Madras) (P.) Ltd. [1981] 131 ITR 313, it was held by the Madras High Court that adequate consideration was not necessarily what is ultimately determined someone else as the market value and that unless the price was such as to shock the conscience of the court, it was not possible to hold that the transaction was otherwise than for adequate consideration. This is a test which the r…

COMMISSIONER OF INCOME TAX (EXEMPTIONS) DELHI vs. HAMDARD NATIONAL FOUNDATION (INDIA)

ITA/144/2021HC Delhi16 Feb 2022

Bench: HON'BLE MR. JUSTICE MANMOHAN,HON'BLE MR. JUSTICE NAVIN CHAWLA

Section 11Section 13(2)(b)Section 13(3)

…ITA 142/2021 & connected matters Page 1 of 24 * IN THE HIGH COURT OF DELHI AT NEW DELHI Reserved on: 14.01.2022 Date of Decision: 16.02.2022 + ITA 142/2021 COMMISSIONER OF INCOME TAX (EXEMPTIONS) DELHI ..... Appellant Through: Mr.Abhishek Maratha, Sr. Standing Counsel. versus HAMDARD NATIONAL FOUNDATION (INDIA) ..... Respondent Through: Mr.Salil Aggarwal, Sr. Adv. with Mr.Madhur Aggarwal, Adv. + ITA 144/2021 & CM APPL. 32406/2021 COMMISSIONER OF INCOME TAX (EXEMPTIONS) DELHI…

COMMISSIONER OF INCOME TAX (EXEMPTIONS) DELHI vs. HAMDRD NATIONAL FOUNDATION (INDIA)

ITA/115/2021HC Delhi16 Feb 2022

Bench: HON'BLE MR. JUSTICE MANMOHAN,HON'BLE MR. JUSTICE NAVIN CHAWLA

Section 11Section 13(2)(b)Section 13(3)

ITO (E) -1(1), MUMBAI vs. ADITYA BIRLA FOUNDATION , MUMBAI

In the result, Revenue’s appeal is partly allowed

ITA 6279/MUM/2019[2012-13]Status: DisposedITAT Mumbai28 Oct 2021AY 2012-13

Bench: The Hon'Ble Itat In Its Own Case In A.Y.2011-12 Which Is Pending For Adjudication."

Section 11Section 11(2)Section 13(3)Section 25

…s of accounts. 6 Sargam Cinema v. CIT (328 ITR 513) (SC) 7 Amol Chand Vurshncy Sewa Sansthan v. ACIT (142 ITD 658) (Agra T) Proposition III: Adequate rent is not equivalent to Fair Market rent 8 Commissioner of Gift-Tax v. Indo Traders and Agencies (P.) Ltd, (131 ITR 313) (Mad) 9 Commissioner of Gift-tax v. Nelson & Co. (245 ITR 347) (Mad) Proposition IV: On the facts of the case, provisions of section 13(3) cannot be applied 1 HDFC Bank Ltd. v. ACIT (WP No. 462 of 2017) 2 DIT v. Span Foundation (178 Taxman 436) 4 CIT (A) erred in allowing ITAT Order passed in Assessee's own case for AY assessee's claim for 2011-…