What is ACIT v. Biraj Investment Pvt. Ltd. authority for?

Transactions involving the sale of shares within the same group, especially when facilitated by a director's spouse being the MD of the counterparty, can be deemed a colorable device to evade tax on long-term capital gains if there's an absence of genuine delivery of shares.

How many judgments cite ACIT v. Biraj Investment Pvt. Ltd.?

18 judgments on BharatTax cite ACIT v. Biraj Investment Pvt. Ltd. (210 Taxmann 418), spanning 2016 to 2024.

ACIT v. Biraj Investment Pvt. Ltd. (210 Taxmann 418)

DCIT, Chennai vs. Tvs Investments Lrd., Chennai

In the result, the Revenue's appeal as well as the assessee's Cross Objection are allowed for statistical purposes

ITA 262/CHNY/2017[2010-11]Status: DisposedITAT Chennai11 Jun 2024AY 2010-11

Bench: Hon’Ble Shri Aby T. Varkey, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am आयकरअपील सं./ Ita No.262/Chny/2017 (िनधा*रण वष* / Assessment Year: 2010-11) Dcit M/S. Tvs Capital Funds (P) Limited (Formerly Known As Tvs Investments Limited) Corporate Circle-3(1) बनाम/ Jayalakshmi Estates, Chennai-600 034. Vs. No.29, (Old No.8), Haddows Road Chennai-600 006. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaact-1154-H (अपीलाथ"/Appellant) : (" थ" / Respondent) अपीलाथ"कीओरसे/ Appellant By : Dr. D. Praveen (Jcit) -Ld. Dr " थ"कीओरसे/Respondent By : Shri R. Vijayaraghavan, (Advocate)-Ld. Ar सुनवाईकीतारीख/Date Of Hearing : 15-05-2024 घोषणाकीतारीख /Date Of Pronouncement : 11-06-2024 आदेश / O R D E R

For Appellant: Dr. D. Praveen (JCIT) -Ld. DRFor Respondent: Shri R. Vijayaraghavan, (Advocate)-Ld. AR

…SEBI regulations. It is also not disputed that TVSF&S had a negative net worth, was delisted and its shares could not be sold to any third party. in other words, the shares of TVSF&S were worthless. 13.3 In the case of CIT vs Biraj Investments Pvt Ltd. (2012) 24 Taxmann.com 273 (Guj), the assessee M/s Biraj investment Put Ltd had made LTCG on sale of shares in M/s Rustom spinners Ltd and incurred Long term capital loss on sale of shares in M/s Rustorn Mills & industries Ltd, and the purchase/sales were effected to another investment company of the same group viz Bijal investments Ltd. An held that since the husba…

Jm Financial Ltd, Mumbai vs. DCIT 4(3), Mumbai

The appeal of the assessee is allowed and the appeal of the revenue is dismissed

ITA 3987/MUM/2015[2008-09]Status: DisposedITAT Mumbai04 Aug 2023AY 2008-09

Bench: Shri Aby T Varkey () & Ms. Padmavathy S. ()

Section 143(3)

…1 ITAs 3925 & 3987/Mum/2015 IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “F”, MUMBAI BEFORE SHRI ABY T VARKEY (JUDICIAL MEMBER) AND MS. PADMAVATHY S. (ACCOUNTANT MEMBER) I.T.A. No.3987/Mum/2015 (Assessment year : 2008-09) M/s J.M. Financial Ltd vs Deputy Commissioner of Income-tax- 141, Maker Chambers, 11, Nariman 4(3)(1), Mumbai 6th Floor, Room No.649, Aayakar Point, Mumbai-400 021 PAN : AAACJ2590B Bhavan, Mumbai-400 APPELLANT RESPONDENT I.T.A. No.3925/Mum/2015 (Assessment year : 2008-09) Deputy Commissioner of Income-tax- vs M/s J.M. Financial Ltd 4(3)(1), Mumbai 141, Maker Chambers, 11, Nariman 6th Fl…

DCIT 4(3)(1), Mumbai vs. J.M. Financial Ltd, Mumbai

The appeal of the assessee is allowed and the appeal of the revenue is dismissed

ITA 3925/MUM/2015[2008-09]Status: DisposedITAT Mumbai04 Aug 2023AY 2008-09

Bench: Shri Aby T Varkey () & Ms. Padmavathy S. ()

Section 143(3)

…1 ITAs 3925 & 3987/Mum/2015 IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “F”, MUMBAI BEFORE SHRI ABY T VARKEY (JUDICIAL MEMBER) AND MS. PADMAVATHY S. (ACCOUNTANT MEMBER) I.T.A. No.3987/Mum/2015 (Assessment year : 2008-09) M/s J.M. Financial Ltd vs Deputy Commissioner of Income-tax- 141, Maker Chambers, 11, Nariman 4(3)(1), Mumbai 6th Floor, Room No.649, Aayakar Point, Mumbai-400 021 PAN : AAACJ2590B Bhavan, Mumbai-400 APPELLANT RESPONDENT I.T.A. No.3925/Mum/2015 (Assessment year : 2008-09) Deputy Commissioner of Income-tax- vs M/s J.M. Financial Ltd 4(3)(1), Mumbai 141, Maker Chambers, 11, Nariman 6th Fl…

ACIT - 21(2), Mumbai vs. Kalpana Shripal Morakhia, Mumbai

In the result, the appeal by the Revenue is dismissed

ITA 3003/MUM/2016[2010-11]Status: DisposedITAT Mumbai03 Apr 2023AY 2010-11

Bench: Shri Om Prakash Kant & Shri Sandeep Singh Karhail

For Appellant: Shri Hiro RaiFor Respondent: Shri Sandeep Raj

Section 143(3)Section 250Section 54F

…IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, MUMBAI BEFORE SHRI OM PRAKASH KANT, ACCOUNTANT MEMBER AND SHRI SANDEEP SINGH KARHAIL, JUDICIAL MEMBER ITA no.3003/Mum./2016 (Assessment Year : 2010–11) Asstt. Commissioner of Income Tax ……………. Appellant Circle–21(3), Mumbai v/s Smt. Kalpana Shripal Morakhia 161, Starcity Entertainment 2nd Floor, Manmala Tank Road …………….Respondent Mahim (West), Mumbai 400 016 PAN – AFQPM9762E Assessee by : Shri Hiro Rai Revenue by : Shri Sandeep Raj Date of Hearing – 04/01/2023 Date of Order – 03/04/2023 O R D E R PER SANDEEP SINGH KARHAIL, J.M. The present appeal has been file…

Adani Agro Pvt. Ltd., Ahmedabad vs. The Dy.CIT., Circle-1, Ahmedabad

In the result, the assessee appeal is thus allowed

ITA 1809/AHD/2012[2009-10]Status: DisposedITAT Ahmedabad20 Sept 2019AY 2009-10

Bench: Shri O. P. Meena& Ms. Madhumita Roy

For Appellant: Shri S. N. Soparkar, Sr. Advocate with Parin ShahFor Respondent: 17.09.2019

Section 115JSection 143(3)Section 14ASection 234BSection 234C

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, AHMEDABAD BEFORE SHRI O. P. MEENA, ACCOUNTANT MEMBER& Ms. MADHUMITA ROY, JUDICIAL MEMBER I.T.A. No.1809/Ahd/2012 (Assessment Year : 2009-10) Adani Agro Pvt. Ltd., Vs. DCIT, 8th Floor, Shikhar Nr. Circle – 1, Mithakhali Six Roads, Ahmedabad. Navrangpura, Ahmedabad – 380 009. [PAN No.AABCA 3183 G] (Appellant) (Respondent) .. Appellant by : Shri S. N. Soparkar, Sr. Advocate with Parin Shah Shri L. P. Jain, Sr.D.R. Respondentby: 17.09.2019 Date of Hearing Date of Pronouncement 20.09.2019 O R D E R PER Ms. MADHUMITA ROY - JM: The instant appeal filed by the ass…

Aura Securities Pvt. Ltd., Ahmedabad vs. Dy. Commissioner of Income Tax, Ahmedabad

In the result the appeal of the assessee is allowed

ITA 3462/AHD/2014[2008-09]Status: DisposedITAT Ahmedabad28 Jun 2019AY 2008-09

Bench: Shri Mahavir Prasad & Shri Waseem Ahmedआयकर अपील सं./Ita No.834/Ahd/2012 "नधा"रण वष"/Asstt. Year: 2008-2009 Dcit, Aura Securities Pvt. Ltd. Circle-1, V Akhay Building, B/H, Vadilal Ahmedabad. S. House, 53, Shrimali Society, Navrangpura, Ahmedabad-380009 Pan: Aabct4637N आयकर अपील सं./Ita No.986/Ahd/2012 िनधा"रण वष"/Asstt. Year: 2008-2009 Aura Securities Pvt. Ltd. Acit, Akhay Building, B/H, Vadilal Vs. Circle-1, House, 53, Shrimali Society, Ahmedabad. Navrangpura, Ahmedabad-380009 Pan: Aabct4637N

For Appellant: ShriFor Respondent: Shri Mudit Nagpal, S.R. D.R

Section 115JSection 14ASection 234BSection 234CSection 271(1)(c)

…आयकर अपील"य अ"धकरण, अहमदाबाद "यायपीठ IN THE INCOME TAX APPELLATE TRIBUNAL, ‘’ B’ ’BENCH, AHMEDABAD BEFORE SHRI MAHAVIR PRASAD, JUDICIAL MEMBER And SHRI WASEEM AHMED, JUDICIAL MEMBER आयकर अपील सं./ITA No.834/AHD/2012 "नधा"रण वष"/Asstt. Year: 2008-2009 DCIT, Aura Securities Pvt. Ltd. Circle-1, V Akhay Building, B/h, Vadilal Ahmedabad. s. House, 53, Shrimali Society, Navrangpura, Ahmedabad-380009 PAN: AABCT4637N आयकर अपील सं./ITA No.986/AHD/2012 िनधा"रण वष"/Asstt. Year: 2008-2009 Aura Securities Pvt. Ltd. ACIT, Akhay Building, B/h, Vadilal Vs. Circle-1, House, 53, Shrimali Society, Ahmedabad. Navrangpura, Ahmedabad-…

Aura Securities Pvt.Ltd., Ahmedabad vs. The ACIT., Circle-1, Ahmedabad

In the result the appeal of the assessee is allowed

ITA 986/AHD/2012[2008-09]Status: DisposedITAT Ahmedabad28 Jun 2019AY 2008-09

Bench: Shri Mahavir Prasad & Shri Waseem Ahmedआयकर अपील सं./Ita No.834/Ahd/2012 "नधा"रण वष"/Asstt. Year: 2008-2009 Dcit, Aura Securities Pvt. Ltd. Circle-1, V Akhay Building, B/H, Vadilal Ahmedabad. S. House, 53, Shrimali Society, Navrangpura, Ahmedabad-380009 Pan: Aabct4637N आयकर अपील सं./Ita No.986/Ahd/2012 िनधा"रण वष"/Asstt. Year: 2008-2009 Aura Securities Pvt. Ltd. Acit, Akhay Building, B/H, Vadilal Vs. Circle-1, House, 53, Shrimali Society, Ahmedabad. Navrangpura, Ahmedabad-380009 Pan: Aabct4637N

For Appellant: ShriFor Respondent: Shri Mudit Nagpal, S.R. D.R

Section 115JSection 14ASection 234BSection 234CSection 271(1)(c)

…आयकर अपील"य अ"धकरण, अहमदाबाद "यायपीठ IN THE INCOME TAX APPELLATE TRIBUNAL, ‘’ B’ ’BENCH, AHMEDABAD BEFORE SHRI MAHAVIR PRASAD, JUDICIAL MEMBER And SHRI WASEEM AHMED, JUDICIAL MEMBER आयकर अपील सं./ITA No.834/AHD/2012 "नधा"रण वष"/Asstt. Year: 2008-2009 DCIT, Aura Securities Pvt. Ltd. Circle-1, V Akhay Building, B/h, Vadilal Ahmedabad. s. House, 53, Shrimali Society, Navrangpura, Ahmedabad-380009 PAN: AABCT4637N आयकर अपील सं./ITA No.986/AHD/2012 िनधा"रण वष"/Asstt. Year: 2008-2009 Aura Securities Pvt. Ltd. ACIT, Akhay Building, B/h, Vadilal Vs. Circle-1, House, 53, Shrimali Society, Ahmedabad. Navrangpura, Ahmedabad-…

Madhu Sarda, Mumbai vs. ITO 19(2)(4), Mumbai

In the result, the grounds of appeal raised by the

ITA 7410/MUM/2012[2006-07]Status: DisposedITAT Mumbai09 Mar 2018AY 2006-07

Bench: Shri B. R. Baskaran & Shri Pawan Singhin The Matter Of Mrs. Madhu Sarda , 38,Vikas Center, S.V. Road, Santacruz (West) Mumbai-400054 Pan: Aajps 5135R Appellant/ Assessee Versus Income Tax Officer, -19(4) Mumbai Respondent/ Revenue

For Respondent: Sh. V. Vidhyadhar (Sr.DR)

Section 143(3)Section 253Section 254(1)

…ITA No. 7410/M/2012 Madhu Sarda IN THE INCOME TAX APPELLATE TRIBUNAL, BENCH “B”, MUMBAI BEFORE SHRI B. R. BASKARAN, ACCOUNTANT MEMBER AND SHRI PAWAN SINGH, JUDICIAL MEMBER In the matter of Mrs. Madhu Sarda , 38,Vikas Center, S.V. Road, Santacruz (West) Mumbai-400054 PAN: AAJPS 5135R Appellant/ Assessee Versus Income Tax Officer, -19(4) Mumbai Respondent/ Revenue Assessee by Sh. Harish M. Kapadia : Advocate Revenue by : Sh. V. Vidhyadhar (Sr.DR) Date of hearing : 09.03.2018 Date of Pronouncement : 09.03.2018 Order Under Section 254(1) of Income Tax Act PER PAWAN SINGH, JUDICIAL MEMBER: 1. This appeal by…

M/S Stylish Construction Pvt. Ltd vs. DCIT, New Delhi

In the result, appeal of the assessee is partly allowed

ITA 2512/DEL/2013[2008-09]Status: DisposedITAT Delhi18 May 2017AY 2008-09

Bench: Shri H. S. Sidhu & Shri Prashant Maharishistylish Construction Pvt. Ltd, Dcit, 1027, Top Floor, Ward No. 8, Circle-9(1), Vs. Mehra Chowk, Mehrauli New Delhi Pan: Aaics4664H (Appellant) (Respondent)

For Appellant: Sh. Ashwani Kumar, CAFor Respondent: Sh. NK Bansal, Sr DR

Section 143(3)Section 14ASection 250Section 73

…d under the head „ capital gains‟, therefore the main income of the assessee is not business. Hence, according to him, explanation section 73 does not apply. He further relied on the decision in DCIT Vs. Jindal Export 101 ITD 129 and ACIT Vs. Viraj Investment 210 Taxmann 418. 7. The ld DR relied upon the orders of the lower authorities and vehemently contested that the transaction of the assessee is sham transaction by incurring loss of sale of shares and ld CIT(A) is correctly applied the explanation to section 73 of the Act holding it to be speculative in nature. 8. We have carefully considered the rival conten…

Commissioner of Income Tax-II vs. M/s.Jayalakshmi Chits

ITTA/211/2008HC Telangana23 Mar 2016

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

The Commissioner of Income Tax-II vs. M/S Gulf Oil Corporation Pvt. Ltd

ITTA/195/2008HC Telangana23 Mar 2016

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

The Commissioner of Income Tax - VI vs. M/s. Manikanta Iron AND Hardware

ITTA/196/2008HC Telangana02 Mar 2016

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

M/S. Aaa Portfolios Pvt. Ltd., New Delhi vs. DCIT, New Delhi

In the result, appeal of the assessee on ground no 1 & 2 is partly dismissed and partly allowed on ground no

ITA 2483/DEL/2014[2009-10]Status: DisposedITAT Delhi20 Jan 2016AY 2009-10

Bench: Sri J.Sudhaker Reddy, Am & Sri C.M.Garg, Jm Ita No. 2483/Del./2014 : Asstt. Year : 2009-10

For Appellant: Sh. R.M.Mehta, CAFor Respondent: Sh. Ashis Mohanty, Sr. DR

Section 14A

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘A’, NEW DELHI Before Sri J.Sudhaker Reddy, AM And Sri C.M.Garg, JM ITA No. 2483/Del./2014 : Asstt. Year : 2009-10 AAA Portfolios Pvt. Ltd. Vs DCIT 202, 1st Floor, Okhla Indl. Circle-1(1) Estate, Phase-III New Delhi New Delhi (APPELLANT) (RESPONDENT) PAN No. AAACA1931B Appellant by : Sh. R.M.Mehta, CA Respondent by : Sh. Ashis Mohanty, Sr. DR Date of Hearing : 27.11.2015 Date of Pronouncement : 20.01.2016 ORDER PER C.M.Garg, J.M. This appeal has been filed by the assessee against the order of the CIT(A) – IV, New Delhi dated 13.01.2014 passed in appeal no.…