ITR 98(sic); CIT v. R.R. Ramakrishna Pillai

66 ITR 725Supreme Court of India1967#18166 most cited
5

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2017 to 2022.

Judgments citing ITR 98(sic); CIT v. R.R. Ramakrishna Pillai

Principal Commissioner of Income Tax-3, Kolkata vs. M/S. Eih Ltd

ITAT/39/2020HC Calcutta17 Jan 2022

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA

Section 14ASection 194HSection 195Section 2Section 2(47)Section 260ASection 40Section 50BSection 9(1)

…Form No.(J2) ORDER SHEET IN THE HIGH COURT AT CALCUTTA Civil Appellate Jurisdiction ORIGINAL SIDE Present : The Hon'ble JUSTICE T. S. SIVAGNANAM And The Hon’ble JUSTICE HIRANMAY BHATTACHARYYA ITAT/39/2020 IA NO.GA/2/2020 (Old No.GA/1153/2020) PRINCIPAL COMMISSIONER OF INCOME TAX-3, KOLKATA VS M/S. EIH LTD. Appearance: Mr. S.N. Dutta, Mr. Soumen Bhattacharjee, Advs. …for the appellant. Mr. J.P. Khaitan, Sr. Adv., Mr.Soham Sen, Adv., for the respondent. Heard on : 17.01.2022 Judgment on : 17.01.2022 T.S. SIVAGNANAMM J. : This appeal of the revenue filed under Section 260A of the I…

Skylark Build, Mumbai vs. Asst CIT Cen Cir 4(2), Mumbai

ITA 4370/MUM/2015[2007-08]Status: DisposedITAT Mumbai29 Aug 2018AY 2007-08

Bench: Shri Joginder Singh & Shri Rajesh Kumarassessment Year: 2007-08 M/S. Skylark Build Acit, Central Circle-4(2) 402, Sagar Avenue 4Th Floor, Aayakar Bhavan बनाम/ Plot B-54, Junction Of M.K.Road, Vs. Lallubhai Park & S.V. Road Mumbai 400020 Andheri (W), Mumbai 400058 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No. Aazfs0404K Assessment Year: 2008-09 M/S. Skylark Build Acit, Central Circle-4(2) 402, Sagar Avenue 4Th Floor, Aayakar Bhavan बनाम/ Plot B-54, Junction Of M.K.Road, Vs. Lallubhai Park & S.V. Road Mumbai 400020 Andheri (W), Mumbai 400058 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No. Aazfs0404K

…O placed reliance on various decisions, reported in (1989) 177 155 Skylark Build Skylark Buildcon P. Ltd. Smt. Hemlata S. Shetty, Oasis Realty Shri Sudhakar M. Shetty Sahana Builders & Developers (P) Ltd. . ITR 98(sic); CIT vs. R.R. Ramakrishna Pillai (1967) 66 ITR 725(SC) and Orissa Cement Ltd. vs. CIT (1971) 80 ITR 901(Del), and thereafter the AO brought the amount of Rs. 80 lakhs to taxation under s. 112 of the IT Act. 3.2 Same arguments were reiterated before the CIT(A) as were made before the AO. The reliance was also placed on various case law. After considering the reply of the assessee and perusing other…

Skylark Build, Mumbai vs. Asst CIT Cen Cir 4(2), Mumbai

ITA 3237/MUM/2015[2008-09]Status: DisposedITAT Mumbai29 Aug 2018AY 2008-09

Bench: Shri Joginder Singh & Shri Rajesh Kumarassessment Year: 2007-08 M/S. Skylark Build Acit, Central Circle-4(2) 402, Sagar Avenue 4Th Floor, Aayakar Bhavan बनाम/ Plot B-54, Junction Of M.K.Road, Vs. Lallubhai Park & S.V. Road Mumbai 400020 Andheri (W), Mumbai 400058 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No. Aazfs0404K Assessment Year: 2008-09 M/S. Skylark Build Acit, Central Circle-4(2) 402, Sagar Avenue 4Th Floor, Aayakar Bhavan बनाम/ Plot B-54, Junction Of M.K.Road, Vs. Lallubhai Park & S.V. Road Mumbai 400020 Andheri (W), Mumbai 400058 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No. Aazfs0404K

…O placed reliance on various decisions, reported in (1989) 177 155 Skylark Build Skylark Buildcon P. Ltd. Smt. Hemlata S. Shetty, Oasis Realty Shri Sudhakar M. Shetty Sahana Builders & Developers (P) Ltd. . ITR 98(sic); CIT vs. R.R. Ramakrishna Pillai (1967) 66 ITR 725(SC) and Orissa Cement Ltd. vs. CIT (1971) 80 ITR 901(Del), and thereafter the AO brought the amount of Rs. 80 lakhs to taxation under s. 112 of the IT Act. 3.2 Same arguments were reiterated before the CIT(A) as were made before the AO. The reliance was also placed on various case law. After considering the reply of the assessee and perusing other…

DCIT Cen Cir 4(2), Mumbai vs. Sudhakar M. Shetty, Mumbai

ITA 2906/MUM/2015[2011-12]Status: DisposedITAT Mumbai29 Aug 2018AY 2011-12

Bench: Shri Joginder Singh & Shri Rajesh Kumarassessment Year: 2007-08 M/S. Skylark Build Acit, Central Circle-4(2) 402, Sagar Avenue 4Th Floor, Aayakar Bhavan बनाम/ Plot B-54, Junction Of M.K.Road, Vs. Lallubhai Park & S.V. Road Mumbai 400020 Andheri (W), Mumbai 400058 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No. Aazfs0404K Assessment Year: 2008-09 M/S. Skylark Build Acit, Central Circle-4(2) 402, Sagar Avenue 4Th Floor, Aayakar Bhavan बनाम/ Plot B-54, Junction Of M.K.Road, Vs. Lallubhai Park & S.V. Road Mumbai 400020 Andheri (W), Mumbai 400058 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No. Aazfs0404K

…O placed reliance on various decisions, reported in (1989) 177 155 Skylark Build Skylark Buildcon P. Ltd. Smt. Hemlata S. Shetty, Oasis Realty Shri Sudhakar M. Shetty Sahana Builders & Developers (P) Ltd. . ITR 98(sic); CIT vs. R.R. Ramakrishna Pillai (1967) 66 ITR 725(SC) and Orissa Cement Ltd. vs. CIT (1971) 80 ITR 901(Del), and thereafter the AO brought the amount of Rs. 80 lakhs to taxation under s. 112 of the IT Act. 3.2 Same arguments were reiterated before the CIT(A) as were made before the AO. The reliance was also placed on various case law. After considering the reply of the assessee and perusing other…

Cairn Uk Holding Ltd., Ahmedabad vs. DCIT (International Taxation), New Delhi

In the result ground No. 5 of the appeal of the assessee is allowed

ITA 1669/DEL/2016[2007-08]Status: DisposedITAT Delhi09 Mar 2017AY 2007-08

Bench: Shri H. S. Sidhu & Shri Prashant Maharishi

For Appellant: Shri Percy Pardiwala Sr. AdvFor Respondent: Shri Sanjay Puri CIT
Section 143(3)Section 144

…f the allotment of the shares of the Company in satisfaction of the sale price, the assessee firm got certain benefits but that does not convert the sale into an exchange. 2.59. Hon'ble SC after considering the decision of CIT v R.R. Ramakrishna Pillai [1967] 66 ITR 725 (SC) distinguishing an exchange from a sale observed that "where the person carrying on the business transfers the assets^to a company in consideration of allotment of shares, it would be a case of exchange and not of sale and the true nature of the transaction will not be altered because for the purpose of Cairn U K Holdings Limited V DCIT ( Inte…

ITR 98(sic); CIT v. R.R. Ramakrishna Pillai (66 ITR 725) — Cited in 5 Judgments | BharatTax