CIT v. Salora International

386 ITR 580High Court#14129 most cited
7

judgments rely on this decision, according to BharatTax’s citation analysis of 348,631 Indian tax judgments — from 2020 to 2025.

Issues it is cited on

section 2(19aa)section 293section 39transferor companyscheme of arrangementtransferee companygoing concerndemergersection 47section 18full value of considerationbusiness expediency

Judgments citing CIT v. Salora International

DCIT (Ltu), New Delhi vs. M/S. Mawana Sugar Ltd., New Delhi

In the result, all the appeals filed by the Revenue for AYs 2006-07, 2012-

ITA 6081/DEL/2016[2012-13]Status: DisposedITAT Delhi26 Mar 2025AY 2012-13

Bench: Shri Satbeer Singh Godara & Shris.Rifaur Rahman

For Appellant: Shri Taran Deep Singh, AdvocateFor Respondent: Ms. Baljeet Kaur, CIT DR
Section 2Section 2(47)Section 391

…n” chargeability in hands of the transferor. It is submitted that only exceptions stated u/s 47 would negate such chargeability. In this regard our attention was drawn towards the decision of Delhi High Court in case of CIT vs Salora International reported in 386 ITR 580(Del) were in the Hon’ble High Court has held as under:- “18. An order passed by the Company Court sanctioning a scheme of arrangement under Section 391-394 of the Companies Act, 1956 is an order in rem. It is not in dispute that the Scheme is binding on all the persons including the Assessee. However, we are unable to appreciate any material dif…

Siel Ltd., New Delhi vs. DCIT, New Delhi

In the result, all the appeals filed by the Revenue for AYs 2006-07, 2012-

ITA 6301/DEL/2015[2011-12]Status: DisposedITAT Delhi26 Mar 2025AY 2011-12

Bench: Shri Satbeer Singh Godara & Shris.Rifaur Rahman

For Appellant: Shri Taran Deep Singh, AdvocateFor Respondent: Ms. Baljeet Kaur, CIT DR
Section 2Section 2(47)Section 391

…n” chargeability in hands of the transferor. It is submitted that only exceptions stated u/s 47 would negate such chargeability. In this regard our attention was drawn towards the decision of Delhi High Court in case of CIT vs Salora International reported in 386 ITR 580(Del) were in the Hon’ble High Court has held as under:- “18. An order passed by the Company Court sanctioning a scheme of arrangement under Section 391-394 of the Companies Act, 1956 is an order in rem. It is not in dispute that the Scheme is binding on all the persons including the Assessee. However, we are unable to appreciate any material dif…

Siel Ltd., New Delhi vs. DCIT, New Delhi

In the result, all the appeals filed by the Revenue for AYs 2006-07, 2012-

ITA 6300/DEL/2015[2003-04]Status: DisposedITAT Delhi26 Mar 2025AY 2003-04

Bench: Shri Satbeer Singh Godara & Shris.Rifaur Rahman

For Appellant: Shri Taran Deep Singh, AdvocateFor Respondent: Ms. Baljeet Kaur, CIT DR
Section 2Section 2(47)Section 391

…n” chargeability in hands of the transferor. It is submitted that only exceptions stated u/s 47 would negate such chargeability. In this regard our attention was drawn towards the decision of Delhi High Court in case of CIT vs Salora International reported in 386 ITR 580(Del) were in the Hon’ble High Court has held as under:- “18. An order passed by the Company Court sanctioning a scheme of arrangement under Section 391-394 of the Companies Act, 1956 is an order in rem. It is not in dispute that the Scheme is binding on all the persons including the Assessee. However, we are unable to appreciate any material dif…

Shri Neerav Shailesh Parekh, Ahmedabad vs. The Deputy Commissioner of Income Tax, Circle-11, Ahmedabad

In the result, appeal of the assessee is allowed

ITA 535/AHD/2017[2008-09]Status: DisposedITAT Ahmedabad03 Jan 2024AY 2008-09

Bench: Ms. Suchitra Kambleassessment Year: 2008-09

Section 143(1)Section 143(2)Section 48

…e value still accrued to the assessee or not, the AO has duly applied his mind and given a reasoned order as to why another value for the sale price of shares ought to be adopted. 5. Significantly, in CIT v. Salora International Ltd. [2016] 70 taxmann.com 92/386 ITR 580 (Delhi), the expression 'accruing' as Assessment Year: 2008-09 Page 6 of 7 used in section 48 is discussed to be synonymous to entitlement. If the assessee is entitled to the consideration, then the same must be taken into account for the purposes of computation of capital gains in terms of section 48. In the instant case, the assessee has not b…

Dy CIT CC-1(4), Mumbai vs. M/S Grasim Industries Ltd., Mumbai

ITA 41/MUM/2021[2018-19]Status: DisposedITAT Mumbai30 Nov 2022AY 2018-19

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

For Appellant: Shri. J.D Mistry, Sr. AdvFor Respondent: Shri Anil Singh
Section 115OSection 115QSection 2

…urt in DIT-IT vs. Besix Kier Dabhol SA (210 Taxman 151) (Pg. Pg. 539-541 of Legal Paper Book, Vol. II) 82. The Appellant submits that the reliance placed by the Revenue on the decision of the Delhi High Court in the case of CIT vs. Salora International Ltd. (386 ITR 580), is misplaced. The Court in that case was merely concerned with whether capital gain is chargeable under the Act on the basis of the terms of the Scheme or no and not with a situation as in the present case where the terms of the Scheme are being modified or altered by the Revenue. It was an admitted fact in that case, that capital gains is char…

Grasim Industries Ltd., Mumbai vs. Dy CIT, Central Circle-1(4), Mumbai

ITA 1935/MUM/2020[2018-19]Status: DisposedITAT Mumbai30 Nov 2022AY 2018-19

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

For Appellant: Shri. J.D Mistry, Sr. AdvFor Respondent: Shri Anil Singh
Section 115OSection 115QSection 2

…urt in DIT-IT vs. Besix Kier Dabhol SA (210 Taxman 151) (Pg. Pg. 539-541 of Legal Paper Book, Vol. II) 82. The Appellant submits that the reliance placed by the Revenue on the decision of the Delhi High Court in the case of CIT vs. Salora International Ltd. (386 ITR 580), is misplaced. The Court in that case was merely concerned with whether capital gain is chargeable under the Act on the basis of the terms of the Scheme or no and not with a situation as in the present case where the terms of the Scheme are being modified or altered by the Revenue. It was an admitted fact in that case, that capital gains is char…

Bangalore Pharmacetical & Research Laboratory Pvt. Ltd., Bangalore vs. The Deputy Commissioner of Income Tax, Circle 1(1)(2), Bangalore

In the result appeal filed by assessee stands allowed for statistical purposes

ITA 77/BANG/2017[2006-07]Status: DisposedITAT Bangalore21 Aug 2020AY 2006-07

Bench: Shri A.K Garodia & Smt. Beena Pillaiassessment Years : 2006-07

For Appellant: Shri Anil Kumar, C.AFor Respondent: Shri Manjeet Singh, Addl. CIT
Section 143(1)Section 234BSection 243BSection 48Section 54G

….CIT(A) relied upon decision of coordinate bench of tribunal in case of N.S Nagaraj in ITA No.676/Bang/2011 CO No.45/Bang /2013 dated 01/12/2014. Reliance is also placed on decision of Hon’ble Delhi High Court in case of Salora International Ltd., reported in 386 ITR 580. 12. Aggrieved by order passed by Ld.CIT(A), both assessee as well as revenue are in appeal. 13. Ld.AR at the outset, submitted that Ld.CIT(A) has not decided issues in Ground 4, 6 and additional grounds raised before Ld.CIT(A). He thus requested for the issues to be sent back to Ld.CIT(A) for adjudication. 14. Ld.Sr.DR though objected for the re…

CIT v. Salora International (386 ITR 580) — Cited in 7 Judgments | BharatTax