ACIT v. Dr. B.V. Raju

135 ITD 1Income Tax Appellate Tribunal2012#19025 most cited
4

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2015 to 2017.

Judgments citing ACIT v. Dr. B.V. Raju

DCIT, New Delhi vs. Giri Buildwell (P) Ltd., New Delhi

In the result, the appeal of the Revenue is dismissed

ITA 1428/DEL/2014[2001-02]Status: DisposedITAT Delhi13 Apr 2017AY 2001-02

Bench: : Shri I.C. Sudhir & Shri L.P. Sahu

Section 143(1)Section 147Section 148Section 68

…apply independent mind to the information, the belief of escapement of income formed on the basis of such information cannot be entertained for reopening of assessment. Reliance is placed on the decision of ITAT Ahmedabad Bench in Mahadev TradingCo. Vs. ITO, 135 ITD 1 (Ahd.). 8. We have considered the rival submissions and have gone through the entire material available on record including the orders of the authorities below and case laws relied upon and we find that the impugned order does not call for any interference. It is notable that the contention of the assessee from the beginning has been that they hav…

DCIT 8(3), Mumbai vs. Vrushal Traidng P.Ltd, Mumbai

In the result, the appeal of the revenue is allowed

ITA 5356/MUM/2013[2009-10]Status: DisposedITAT Mumbai18 Nov 2015AY 2009-10

Bench: S/Shri B.R.Baskaran, Am & Pawan Singh, Jm आमकय अऩीर सं./I.T.A. No.5356/Mum/2013 (ननधधायण वषा / Assessment Year:2009-10) बनाम/ Dy.Commissioner Of Income M/S Vrushal Trading Pvt.Ltd., A Wing, 607, Tax-8(3), Vs. 215, Atrium, Chakala, Room No.217, Andheri-Kurla Road, Aayakar Bhavan, Andheri (E), M K Road, Mumbai-400069 Mumbai-400020 (अऩीरधथी /Appellant) (प्रत्मथी / Respondent) ..

Section 28

…d by the Tribunal in the case of M/s Hami Aspi Balsara V/s ACIT reported in 126 ITD 100. At the time of hearing, the ld.DR submitted that the Hyderabad Special Bench of the Tribunal has considered an identical issue in the case of ACIT V/s Dr. B V Raju (2012) 135 ITD 1 (SB), wherein it has been held that non-compete fee would be chargeable to tax as income from business in the hands of the persons associated with the transferor also. He further submitted that the decision rendered by the Special Bench was followed by the Mumbai Bench of the Tribunal in the case of Sterling Re-rolling Mills V/s ACIT (2012) 23 Taxm…

The ACIT 12(3), Mumbai vs. Shri Lemuir Air Express, Mumbai

In the result, both appeals of the assessee and revenue are dismissed

ITA 3245/MUM/2008[2004-2005]Status: DisposedITAT Mumbai09 Oct 2015AY 2004-2005

Bench: Shri Joginder Singh & Shri R.C. Sharmaआमकय अऩीर सं./I.T.A. Nos. 3245/Mum/2008 (नििाारण वषा / Assessment Year: 2004-05 बिाम/ Asstt. Commissioner Of M/S Lemuir Air Express, Income Tax – 12(3), Oricon House, 2Nd Floor, Vs. Room No. 121, 12-K, Dubhash Marg, Aayakar Bhavan, Fort, M.K. Road, Mumbai 400 023. Mumbai – 400 020. स्थामी रेखा सं./ Pan : Aaafl2518C (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. आमकय अऩीर सं./I.T.A. Nos. 2430/Mum/2008 (नििाारण वषा / Assessment Year : 2004-05 बिाम/ M/S Lemuir Air Express, Asstt. Commissioner Of Oricon House, 2Nd Floor, Income Tax – 12(3), Vs. 12-K, Dubhash Marg, Room No. 121, Fort, Aayakar Bhavan, Mumbai 400 023. M.K. Road, Mumbai – 400 020. स्थामी रेखा सं./ Pan : Aaafl2518C (अऩीराथी /Appellant) .. (प्रत्मथी / Respondent) Assessee By Shri Hiro Rai & Shri Laxmikant Kothari Revenue By : Shri Ajit Kumar Srivastava – Cit Dr सुनवाई की तायीख /Date Of Hearing : 31-07-2015 घोषणा की तायीख /Date Of Pronouncement : 9-10-2015 [

For Respondent: Shri Ajit Kumar Srivastava
Section 143(3)Section 28Section 54E

…rn of assessee taken over by company as going concern, consideration for transfer is taxable as long term capital gains and not as business income. Further reliance was placed on the decision of ITAT Special Bench in the case of ACIT vs. Dr. B.V. Raju, [2012] 135 ITD 1 (Hyd) wherein it was held that when certain amount is paid for giving up right to carry on business, it would be regarded as capital gain receipt, however, when compensation is paid for ,not carrying out any activity in relation to business., which transferor is not carrying on, the same would be chargeable u/s 28(va) of the Act. 8. We have conside…

The Lemuir Air Express, Mumbai vs. M/S. DCIT 12(3), Mumbai

In the result, both appeals of the assessee and revenue are dismissed

ITA 2430/MUM/2008[2004-2005]Status: DisposedITAT Mumbai09 Oct 2015AY 2004-2005

Bench: Shri Joginder Singh & Shri R.C. Sharmaआमकय अऩीर सं./I.T.A. Nos. 3245/Mum/2008 (नििाारण वषा / Assessment Year: 2004-05 बिाम/ Asstt. Commissioner Of M/S Lemuir Air Express, Income Tax – 12(3), Oricon House, 2Nd Floor, Vs. Room No. 121, 12-K, Dubhash Marg, Aayakar Bhavan, Fort, M.K. Road, Mumbai 400 023. Mumbai – 400 020. स्थामी रेखा सं./ Pan : Aaafl2518C (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. आमकय अऩीर सं./I.T.A. Nos. 2430/Mum/2008 (नििाारण वषा / Assessment Year : 2004-05 बिाम/ M/S Lemuir Air Express, Asstt. Commissioner Of Oricon House, 2Nd Floor, Income Tax – 12(3), Vs. 12-K, Dubhash Marg, Room No. 121, Fort, Aayakar Bhavan, Mumbai 400 023. M.K. Road, Mumbai – 400 020. स्थामी रेखा सं./ Pan : Aaafl2518C (अऩीराथी /Appellant) .. (प्रत्मथी / Respondent) Assessee By Shri Hiro Rai & Shri Laxmikant Kothari Revenue By : Shri Ajit Kumar Srivastava – Cit Dr सुनवाई की तायीख /Date Of Hearing : 31-07-2015 घोषणा की तायीख /Date Of Pronouncement : 9-10-2015 [

For Respondent: Shri Ajit Kumar Srivastava
Section 143(3)Section 28Section 54E

…rn of assessee taken over by company as going concern, consideration for transfer is taxable as long term capital gains and not as business income. Further reliance was placed on the decision of ITAT Special Bench in the case of ACIT vs. Dr. B.V. Raju, [2012] 135 ITD 1 (Hyd) wherein it was held that when certain amount is paid for giving up right to carry on business, it would be regarded as capital gain receipt, however, when compensation is paid for ,not carrying out any activity in relation to business., which transferor is not carrying on, the same would be chargeable u/s 28(va) of the Act. 8. We have conside…