Assistant Commissioner of Income-tax v. Ajax Investment Ltd.

85 ITD 154Income Tax Appellate Tribunal2003#25743 most cited
3

judgments rely on this decision, according to BharatTax’s citation analysis of 344,197 Indian tax judgments — from 2016 to 2023.

Judgments citing Assistant Commissioner of Income-tax v. Ajax Investment Ltd.

DCIT Central Circle 16 New Delhi, Delhi vs. Comptech Solutions Pvt Ltd, New Delhi

In the result, appeal of the Revenue is dismissed

ITA 1773/DEL/2022[2016-17]Status: DisposedITAT Delhi17 Nov 2023AY 2016-17

Bench: Dr. Brr Kumar & Ms. Astha Chandraasstt. Year: 2016-17

For Appellant: NoneFor Respondent: Shri Vivek Vardhan, Sr. DR
Section 143(3)Section 56(2)(viib)

…was, thus, a nominee of the U.S. company. The assessee would, thus, be a subsidiary within the meaning of section 108(b). Further, The ITAT Ahmedabad Bench 'A' (Special Bench) in the case of Assistant Commissioner of Income-tax v. Ajax Investment Ltd. [2003] 85 ITD 154 (AHD.)(SB) held that the second subsidiary company of first subsidiary company (parent company listed in the recognized stock exchange of India) falls within the term "wholly owned subsidiary company" notwithstanding the fact that neither the parent company is holding any shares (or requisite shares) in the second subsidiary company nor is the fir…

DCIT Cir 6(1), Mumbai vs. Infomedia 18 Ltd, Mumbai

In the result, the appeal filed by the assessee is treated as allowed for statistical purposes and the appeal of the revenue is dismissed

ITA 4846/MUM/2013[2008-09]Status: DisposedITAT Mumbai08 Jan 2016AY 2008-09

Bench: S/Shri B.R.Baskaran (Am) & Ramlal Negi, (Jm) आमकय अऩीर सं./I.T.A. No.4069/Mum/2013 (ननधधायण वषा / Assessment Year-2008-09) बनाम/ Infomedia Press Ltd (Formerly Addl. Commissioner Of Income Tax, Known As Infomedia 18 Ltd), Range 6(1), Vs. Ruby House, A –Wing, Mumbai. J K Sawant Marg, Dadar West, Mumbai-400028 (अऩीरधथी /Appellant) (प्रत्मथी / Respondent) .. आमकय अऩीर सं./I.T.A. No.4846/Mum/2013 (ननधधायण वषा / Assessment Year-2008-09) बनाम/ Dy. Commissioner Of Income Infomedia Press Ltd (Formerly Tax , Circle 6(1), Known As Infomedia 18 Ltd), Vs. Room No.506, 5Th Floor, Ruby House, A –Wing, Aayakar Bhavan, J K Sawant Marg, M K Road, Dadar West, Mumbai-400020 Mumbai-400028. (अऩीरधथी /Appellant) (प्रत्मथी / Respondent) ..

…is evident that the provisions of section 2(22)(e} are not attracted. Hence the amount of RS.11.80 crores cannot be assessed in the hands of the appellant as deemed dividend 5.12 Coming to the case law cited by the appellant i.e. ACIT Vs: Ajax Investment Ltd,85 ITD 154 (Ahd)(SB), it is seen that the Hon'ble Special Bench of ITAT has held as under ―13. The two assessee companies are public limited companies, therefore, they satisfied the first condition of 2(18)(b) namely, they are not private limited companies under the Companies Act. To be companies in which public is substantially interested they have to furth…

Infomedia Press Ltd ( Formerly Known Infomedia 18 Ltd ), Mumbai vs. Addl CIT RG 6(1), Mumbai

In the result, the appeal filed by the assessee is treated as allowed for statistical purposes and the appeal of the revenue is dismissed

ITA 4069/MUM/2013[2008-09]Status: DisposedITAT Mumbai08 Jan 2016AY 2008-09

Bench: S/Shri B.R.Baskaran (Am) & Ramlal Negi, (Jm) आमकय अऩीर सं./I.T.A. No.4069/Mum/2013 (ननधधायण वषा / Assessment Year-2008-09) बनाम/ Infomedia Press Ltd (Formerly Addl. Commissioner Of Income Tax, Known As Infomedia 18 Ltd), Range 6(1), Vs. Ruby House, A –Wing, Mumbai. J K Sawant Marg, Dadar West, Mumbai-400028 (अऩीरधथी /Appellant) (प्रत्मथी / Respondent) .. आमकय अऩीर सं./I.T.A. No.4846/Mum/2013 (ननधधायण वषा / Assessment Year-2008-09) बनाम/ Dy. Commissioner Of Income Infomedia Press Ltd (Formerly Tax , Circle 6(1), Known As Infomedia 18 Ltd), Vs. Room No.506, 5Th Floor, Ruby House, A –Wing, Aayakar Bhavan, J K Sawant Marg, M K Road, Dadar West, Mumbai-400020 Mumbai-400028. (अऩीरधथी /Appellant) (प्रत्मथी / Respondent) ..

…is evident that the provisions of section 2(22)(e} are not attracted. Hence the amount of RS.11.80 crores cannot be assessed in the hands of the appellant as deemed dividend 5.12 Coming to the case law cited by the appellant i.e. ACIT Vs: Ajax Investment Ltd,85 ITD 154 (Ahd)(SB), it is seen that the Hon'ble Special Bench of ITAT has held as under ―13. The two assessee companies are public limited companies, therefore, they satisfied the first condition of 2(18)(b) namely, they are not private limited companies under the Companies Act. To be companies in which public is substantially interested they have to furth…

Assistant Commissioner of Income-tax v. Ajax Investment Ltd. (85 ITD 154) — Cited in 3 Judgments | BharatTax