Oudh Sagar Mill v. ITO

Vodafone Idea Ltd (Erstwhile Aditya Birla Telecom Ltd), Mumbai vs. PCIT-Circle 5, Mumbai

Bench: Shri S. Rifaur Rahman, Hon'Ble & Ms Kavitha Rajagopal, Hon'Blevodafone Idea Limited V. Pcit – Circle 5 {Erstwhile Known As Aditya Birla Telecom Limited} Room No. 515, 5Thfloor Birla Centurion, 10Th Floor Aayakar Bhavan, M.K. Road Plot No. 794, B Wing Mumbai - 400020 Pandurang Budhkar Marg Worli, Mumbai – 400030 Pan: Aaacb2100P (Appellant) (Respondent) Assessee Represented By Shri J. D. Mistry : Shri Madhur Aggarwal & Shri Ninad Patade Department Represented By : Shri Achal Sharma

…ould be made to the ratio of the following judicial precedents in support of the above: 1. CIT vs. TexspinEngg&Mfg Works (2003) 263 ITR 345 (Bom HC); 2. Sadanand S. Varde vs. State of Maharashtra 274 IT 609 (Bom HC), 3. Oudh Sugar Mills Limited vs. ITO (1990) 35 ITD 76 (Mum, ITAT), 4. Credit Suisse (International) Holding AG, In re 24 taxmann.com 224 (AAR- New Delhi) 5. Hoechst GmbH, In re (2007) 289 ITR 312 (AAR- New Delhi); 6. Dana Corporation (2010) 321 ITR 178 (AR-New Delhi), 7. Banca SellaSpA, In re (2016] 387 ITR 358 (AAR New Delhi) MENT B.2.4 Erroneous reference to accounting entry in the Notice 5.1.10. Ad…

DDIT(It) 1(1), Mumbai vs. Accordis Beheer B.V, Mumbai

In the result, the appeal of the assessee and the appeal of the revenue are dismissed

Bench: S/Shri B.R.Baskaran, Am & Pawan Singh, Jm आमकय अऩीर सं./I.T.A. No.4688/Mum/2010 (ननधधायण वषा / Assessment Year:2006-07) M/S Accordis Beheer B V बनाम/ Director Of Income Tax Officer (As Successors To M/S Accordis (International Taxation)-1(1), Vs. Overseas Investment B V), Scindia House, C/O Bansi S Mehta & Co., Ballard Pier, 11/13, Bootawala Building, Mumbai-400038 2Nd Floor, Hornimum Circle, Mumbai-400001 (अऩीरधथी /Appellant) (प्रत्मथी / Respondent) ..

…of burnt fingers". Therefore, alienation of share is covered under Article 3(5) of DTAA. The case laws of Vania Silk Mills P. Ltd relied by the appellant is also not applicable to the present facts of the case. The AR relied in case of Oudh Sagar Mill vs. ITO(35 ITD 76) (Mum) wherein the Hon'ble Tribunal was dealing a case where sale or exchange was being considered in the context of Section 41 (2). In that reference, the reference of reorganisation word was made. However, in the case of appellant, it is the case of alienation of shares under the buy back scheme. Hence, capital gain earned on such transfer is tax…

Accordis Beheer B.V. ( As Successor to M.S, Accordis Overseas Investement B.V), Mumbai vs. DDIT (It) 1(1), Mumbai

In the result, the appeal of the assessee and the appeal of the revenue are dismissed

Bench: S/Shri B.R.Baskaran, Am & Pawan Singh, Jm आमकय अऩीर सं./I.T.A. No.4688/Mum/2010 (ननधधायण वषा / Assessment Year:2006-07) M/S Accordis Beheer B V बनाम/ Director Of Income Tax Officer (As Successors To M/S Accordis (International Taxation)-1(1), Vs. Overseas Investment B V), Scindia House, C/O Bansi S Mehta & Co., Ballard Pier, 11/13, Bootawala Building, Mumbai-400038 2Nd Floor, Hornimum Circle, Mumbai-400001 (अऩीरधथी /Appellant) (प्रत्मथी / Respondent) ..

…of burnt fingers". Therefore, alienation of share is covered under Article 3(5) of DTAA. The case laws of Vania Silk Mills P. Ltd relied by the appellant is also not applicable to the present facts of the case. The AR relied in case of Oudh Sagar Mill vs. ITO(35 ITD 76) (Mum) wherein the Hon'ble Tribunal was dealing a case where sale or exchange was being considered in the context of Section 41 (2). In that reference, the reference of reorganisation word was made. However, in the case of appellant, it is the case of alienation of shares under the buy back scheme. Hence, capital gain earned on such transfer is tax…