“Section 49(2)”

ACIT, NEW DELHI vs. M/S. KCT PAPERS LTD., NEW DELHI

In the result, grounds raised by the revenue are dismissed

Bench: Shri S.Rifaur Rahman & Shri Anubhav Sharmaacit, Circle 5 (1) Vs. M/S. Kct Papers Limited, New Delhi. Thapar House, 124, Janpath, New Delhi – 110 001. (Pan : Aacck4937D) (Appellant) (Respondent) Assessee By : Shri Rohit Jain, Advocate Shri Deepesh Jain, Advocate Shri Tavish Verma, Advocate Revenue By : Shri Kailash Dan Ratnoo, Cit Dr Date Of Hearing : 10.09.2025 Date Of Order : 05.12.2025 O R D E R Per S.Rifaur Rahman: 1. This Appeal Is Filed By The Assessee Against The Order Of Ld. Commissioner Of Income-Tax (Appeals)-Viii, New Delhi [Hereinafter Referred To As ‘Ld. Cit (A)] Dated 21.03.2014For Assessment Year 2008-09. 2. Brief Facts Of The Case Are, The Assessee Company Belongs To The Thapar Group Established By Late Lala Karam Chand Thapar. There Was A Family Settlement Between The Various Constituents Of The Karam Chand Thapar Family As A Result Of Which Revenue-Organization/Restructuring Of The Group Dated 27Th April, 2001. The Re April, 2001. The Re-Organization Of The Group Companies & Trusts Organization Of The Group Companies & Trusts Was Made Into Four Groups, As Under, Each Headed By The Sons Of Late Lala Was Made Into Four Groups, As Under, Each Headed By The Sons Of Late Lala Was Made Into Four Groups, As Under, Each Headed By The Sons Of Late Lala K.C. Thapar. The Family Tree Of Karam Chand T K.C. Thapar. The Family Tree Of Karam Chand Thapar Family Is Explained As Hapar Family Is Explained As Under In The Form Of A Diagrammatic Chart: Under In The Form Of A Diagrammatic Chart:

holding as well as consequential benefit of indexation [refer detailed submissions, section 49(1)(e) read with section 2(42A) read with section 49(2) for amalgamation and section 49(1)(e) read with section 49(2C)) read with section 2(42A) in the context of demerger]. 7. As explained

COMMISSIONER OF INCOME TAX DEL vs. M/S ABHUINANDAN INVESTMENTS LT

Appeals are allowed

provision in the Act with regard to the manner of determination of the cost of these shares. This was for the reason that section 49(2) prescribed the mode of determining the cost where the shares in an amalgamated company had become the property of the assessee in consideration ... assessees of the acquisition of the shares of the amalgamated company had to be determined in accordance with the provision of section 49(2), that is to say, the cost was deemed to be the cost of the acquisition by the assessees of their shares in the amalgamating company.” [Emphasis

COMMISSIONER OF INCOME TAX DEL vs. M/S M/S JINDAL EQUIPMENT LEASI

Appeals are allowed

provision in the Act with regard to the manner of determination of the cost of these shares. This was for the reason that section 49(2) prescribed the mode of determining the cost where the shares in an amalgamated company had become the property of the assessee in consideration ... assessees of the acquisition of the shares of the amalgamated company had to be determined in accordance with the provision of section 49(2), that is to say, the cost was deemed to be the cost of the acquisition by the assessees of their shares in the amalgamating company.” [Emphasis

COMMISSIONER OF INCOME TAX DEL vs. M/S MANSAROVAR INVESTMENTS LTD

Appeals are allowed

provision in the Act with regard to the manner of determination of the cost of these shares. This was for the reason that section 49(2) prescribed the mode of determining the cost where the shares in an amalgamated company had become the property of the assessee in consideration ... assessees of the acquisition of the shares of the amalgamated company had to be determined in accordance with the provision of section 49(2), that is to say, the cost was deemed to be the cost of the acquisition by the assessees of their shares in the amalgamating company.” [Emphasis