Mumbai and CIT v. Gillette Diversified Operations (P) Ltd.

324 ITR 226High Court2010#20500 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2017 to 2019.

Judgments citing Mumbai and CIT v. Gillette Diversified Operations (P) Ltd.

M3M India Holdings, Gurgaon vs. DCIT, Central Circle- 2, Faridabad

In the result, Ground No.3 of the appeal of assessee is allowed

ITA 2691/DEL/2018[2012-13]Status: DisposedITAT Delhi15 Mar 2019AY 2012-13

Bench: Shri Bhavnesh Saini & Shri L.P. Sahu

For Appellant: Shri Bharath JanartharanFor Respondent: Smt. Paramita Tripathi, CIT-D.R

Section 132(1)(A)Section 143(2)Section 153ASection 153BSection 153DSection 234B

…or the Assessee submitted that merely because the transaction is entered into between Group concerns, it cannot be considered to be sham transaction and relied upon decision of Delhi High Court in the case of CIT vs. Gillette Diversified Operations Pvt. Ltd., 324 ITR 226 (Del.) and decision of Gujarat High Court in the 58 ITA.No.2691/Del./2018 M3M India Holdings, Gurgaon. case of CIT vs. Special Paints Ltd., 356 ITR 404 (Guj.). He has also relied upon the Order of ITAT, Delhi F-Bench, in the case of ACIT, CC-12, New Delhi vs. M/s. R.J. Corporation Ltd., New Delhi in ITA.No.3661/Del/2014, Dated 01.10.2018, in whic…

Leantas Club P.Ltd, Mumbai vs. ITO Rd 8(2)(2), Mumbai

In the result, appeal of the assessee is allowed

ITA 2087/MUM/2015[2005-06]Status: DisposedITAT Mumbai30 May 2018AY 2005-06

Bench: Shri C.N. Prasad & Shri Rajesh Kumarita Nos. 3075/Mum/2012 & 2087/Mum/2015 Assessment Year : 2005 –06

For Appellant: Shri R.C. JainFor Respondent: Shri M.C. Omi Ningshen

Section 143(1)Section 143(3)Section 271(1)(c)

…India Ltd. (2013)215 Taxman 153(Bom), CIT vs. M/s. B Arunkumar & Co Order dated 08/03/2016 of the Bombay High Court, B Arunkumar & Co ITA No.2337 of 2013, Order dated 24/5/2013 passed by ITAT, Mumbai and CIT vs. Gillette Diversified Operations (P) Ltd. (2010) 324 ITR 226 (Del). 8. Learned DR on the other hand while relying heavily on the orders of the authorities below submitted that all the five companies the shares whereof were sold were the group companies and were knowingly planned in such a way to circumvent the tax liability on the long term capital gain on the compensation received by the assessee on the…

Kamat Club P. Ltd, Mumbai vs. ITO 8(2)(2), Mumbai

In the result, appeal of the assessee is allowed

ITA 3075/MUM/2012[2005-06]Status: DisposedITAT Mumbai30 May 2018AY 2005-06

Bench: Shri C.N. Prasad & Shri Rajesh Kumarita Nos. 3075/Mum/2012 & 2087/Mum/2015 Assessment Year : 2005 –06

For Appellant: Shri R.C. JainFor Respondent: Shri M.C. Omi Ningshen

Section 143(1)Section 143(3)Section 271(1)(c)

M/S Sudera Services (P) Ltd., Kolkata vs. The ITO, WD-8(4), Kolkata

In the result, the appeal of the assessee is allowed

ITA 724/KOL/2015[2011-2012]Status: DisposedITAT Kolkata19 Apr 2017AY 2011-2012

Section 143(3)

…t the assessee had mala-fide intention to escape from the tax liability by incurring the impugned loss. In holding so we find support from the judgment of Hon’ble Delhi High Court in the case of CIT Vs. Gillette Diversified Operations Private Ltd. reported in 324 ITR 226 wherein it was held as under : “As noted by the CIT(A) as well as by the Tribunal, shares in question were held by the assessee company for more than three years before they were sold. The assessee company was very much entitled in law to sell the shares held by it at any time, which it considered to be appropriate for such sale. It is for the h…