“ Section 2(84) ”

Gujarat Gas Company Ltd. v. JCIT

The expression "attributable to" is wider in scope and import than the expression "derived from" when interpreting provisions related to profits and gains from a business or industrial undertaking. The legislature's deliberate use of these distinct phrases indicates a nuanced intent regarding the directness of the nexus between income and the source.

245 ITR 84 · 2000 · High Court

Sh. Rajesh Kumar Jain v. ACIT Hon'ble High Court Of Delhi

The assessed income can be lower than the returned income. Authorities are required to assist assessees in correcting over-assessments, even if it means reducing the income below the returned figure.

84 Taxmann.com 257 · 2017 · High Court

Madras Machine Tools Manufacturers Ltd. v. CIT

The assessment can apply the peak credit theory for additions related to unexplained credits or entries. Furthermore, assessment proceedings are not vitiated merely because the Department proceeded under an incorrect section if material existed to justify the assessment under a proper provision like section 148.

98 ITR 119 · 1975 · High Court

R 222 (SC) P.H. Dwivecha vs. CIT Page 84 of 155 53 ITR 261 (SC) Kettlewell Bullen& Co. Ltd. v. CIT

An 'undertaking' is distinct from the 'legal entity' that owns it, meaning tax benefits related to an undertaking must be assessed on a per-undertaking basis, not for the company in general, especially when a company operates multiple undertakings.

351 ITR 110 · 2013 · High Court

ITA 1955/DEL/2025[2022-23]Status: DisposedITAT Delhi12 Mar 2026AY 2022-23

The nature and character of a receipt, whether it is of a capital or revenue nature, depends on the facts and circumstances of each case, particularly the purpose for which the payment was made.

Judgments citing Section 2(84)

Estee India Fund, Mauritius vs. ACIT Circle Int Tax 1(2)(2), Delhi

Bench: Shri Vikas Awasthy & Shri Brajesh Kumar Singh

For Appellant: Shri Sanjeev Kapoor, CAFor Respondent: Shri M.S. Nethrapal, CIT-DR

Section 143(3)Section 144C(13)

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH 'D' : NEW DELHI BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER AND SHRI BRAJESH

Fort Canning Credit Investments Pte. Ltd., Singapore vs. Assistant Commissioner of Income-Tax (International Taxation) - 2(3)(1), Mumbai

In the result, appeal of the assessee is allowed

ITA 2104/MUM/2025[2022-23]Status: DisposedITAT Mumbai27 Jan 2026AY 2022-23

Bench: Shri Amit Shukla & Shri Girish Agrawalassessment Year: 2022-23 Fort Canning Investments Assistant Commissioner Of Pte. Ltd. Income-Tax (International 260 Orchard Road, #14-02 Taxation) - 2(3)(1) Vs. The Heeren, Singapore, Mumbai Singapore – 238855 (Pan: Aaccf9284G) (Appellant) (Respondent) Assessment Year: 2022-23 Fort Canning Credit Assistant Commissioner Of Investments Pte. Ltd. Income-Tax (International 260 Orchard Road #14-02 Taxation) - 2(3)(1) Vs. The Heeren, Singapore, Mumbai Singapore – 238855 (Pan: Aadcf7866R) (Appellant) (Respondent) Present For: Assessee : Shri Dhanesh Bafna, Ms. Priyanka Agarwala, Ms.Hirali Desai, Ms. Nidhi Agarwal & Shri Yogesh Malpani, Cas Revenue : Shri Satya Pal Kumar, Cit Dr & Shri Krishna Kumar, Sr. Dr Date Of Hearing : 29.10.2025 Date Of Pronouncement : 27.01.2026 Fort Canning Investments Pte. Ltd. & Fort Canning Credit Investments Pte. Ltd. Ay 2022-23

For Appellant: Shri Dhanesh BafnaFor Respondent: Shri Satya Pal Kumar, CIT DR and Shri Krishna Kumar, Sr. DR

Section 143(3)Section 144C(13)Section 144C(5)Section 234BSection 270A

reiterates the same OECD commentary. Coordinate Bench also took note of the domestic legislation, more particularly definition of shares given in section 2(84) of the Companies Act, 2013 to differentiate between rights entitlement and shares. Under the domestic law, we also refer to section 2

Fort Canning Investments Pte. Ltd., Singapore vs. Assistant Commissioner of Income-Tax (International Taxation) - 2(3)(1), Mumbai

In the result, appeal of the assessee is allowed

ITA 2103/MUM/2025[2022-23]Status: DisposedITAT Mumbai27 Jan 2026AY 2022-23

For Appellant: Shri Dhanesh BafnaFor Respondent: Shri Satya Pal Kumar, CIT DR and Shri Krishna Kumar, Sr. DR

Section 143(3)Section 144C(13)Section 144C(5)Section 234BSection 270A

Mr. 3 Sigma Global Fund, Mumbai vs. Assistant Commissioner of Income Tax Int Tax Circle 4(2)(1), Mumbai

Accordingly we hold that the gain arising from the transfer of Derivatives cannot be taxed in India and the addition made in this regard stands deleted. Ground No. 1 raised by the assessee is hereb...

ITA 1130/MUM/2025[2022-23]Status: DisposedITAT Mumbai30 Jun 2025AY 2022-23

Bench: Ms Padmavathy S, Am & Shri Raj Kumar Chauhan, Jm

For Appellant: Bhaumik Goda, ARFor Respondent: Shri Krishna Kumar, Sr. DR

ITA 1963/DEL/2025[2022-23]Status: DisposedITAT Delhi25 Jun 2025AY 2022-23

will not affect the fact that the same is not taxable in India. The ld. AR further drew our attention to section 2(84) of the Companies Act where shares are defined as "a share in the share capital of a company and includes stock." The ld. AR further drew ... domestic tax legislation also it is a general meaning is to be adopted. We find that the definition of shares even in Section 2(84) of the Companies Act, 2013 provides a restrictive definition of shares to mean a share in the share capital of a company and includes stock

Emerging India Focus Funds, Mauritius vs. ACIT, Circle Int. Taxation 1(2)(2), Delhi

Bench: Shri Anubhav Sharma & Shri Manish Agarwal

For Appellant: Shri Ajay Vohra, Sr. AdvocateFor Respondent: Shri Abhishek Sharma, CIT-DR

ITA 3945/DEL/2024[2020-21]Status: DisposedITAT Delhi30 May 2025AY 2020-21

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES: D : NEW DELHI BEFORE SHRI ANUBHAV SHARMA, JUDICIAL MEMBER AND SHRI MANISH

Ucweb Mobile Private Limited, Gurgaon vs. Assessment Unit, Inocome Tax Department, Gurgaon

In the result, the appeal of the assessee is partly allowed

Bench: SHRI MAHAVIR SINGH (Vice President), SHRI MANISH AGARWAL (Accountant Member)

Section 143(2)Section 143(3)Section 144CSection 144C(1)Section 144C(13)Section 144C(5)Section 253(1)(d)Section 43(3)

company evidencing a debt, whether constituting a charge on the assets of the company or not.” 24.1. The term “share” is defined in section 2(84) of the Companies Act, 2013 which is as under:- “Share” means share in the share capital of a company and includes stock.” 24.2. Further

Vanguard Total International Stock Index Fund, Mumbai vs. Assistant Commissioner of Income Tax (International Taxation)-4(3)(1), Mumbai

ITA 1283/MUM/2025[2022-23]Status: DisposedITAT Mumbai23 May 2025AY 2022-23

Bench: Ms Padmavathy S, Am & Shri Rahul Chaudhary, Jm

ITA 1281/MUM/2025[2022-23]Status: DisposedITAT Mumbai23 May 2025AY 2022-23

domestic tax legislation also it is a general meaning is to be adopted. We find that the definition of shares even in Section 2(84) of the Companies Act, 2013 provides a restrictive definition of shares to mean a share in the share capital of a company and includes stock ... Further, separate ISIN is assigned to rights entitlements to distinguish it from the normal equity shares traded in the market. In terms of section 2(84) of the Companies Act, 2013, 'share' means a share in the share capital of a company and includes stock. Further, in terms of section

Vanguard Total World Stock Index Fund, Mumbai vs. Assistant Commissioner of Income Tax (International Taxation)-4(3)(1), Mumbai

Bench: Ms Padmavathy S, Am & Shri Rahul Chaudhary, Jm

ITA 1280/MUM/2025[2022-23]Status: DisposedITAT Mumbai23 May 2025AY 2022-23

legislation also it is a general meaning of the Act is to be adopted. We find that the definition of shares even in Section 2(84) of the Companies Act, 2013 provides a restrictive definition of shares to mean a share in the share capital of a company and includes ... Further, separate ISIN is assigned to rights entitlements to distinguish it from the normal equity shares traded in the market. In terms of section 2(84) of the Companies Act, 2013, 'share' means a share in the share capital of a company and includes stock. Further, in terms of section

Vanguard Funds Public Limited Company Vang Ftse Emerging Mkts Ucits Etf, Mumbai vs. Assistant Commissioner of Income Tax (International Taxation)-4(3)(1), Mumbai

Bench: Ms Padmavathy S, Am & Shri Rahul Chaudhary, Jm Ι.Τ.Α. No. 1277/Mum/2025 (Assessment Year: 2022-23) Vanguard Emerging Markets Stock Index Fund A Series Of Visplc, C/O Ernst & Young Llp, 14Th Floor, The Ruby, 29, Senapati Bapat Marg, Dadar (West), Mumbai-400028. Pan: Aaccv3136B Appellant) Vs. Acit (It)-4(3)(1), Kautilya Bhavan, G Block, Bandra Kurla Complex, Maharashtra-400051. : Respondent) Ι.Τ.Α. No. 1278/Mum/2025 (Assessment Year: 2022-23) Vftc- Institutional Total International Stock Market Index Trust Ii, C/O Ernst & Young Llp, 14Th Floor, The Ruby, 29, Senapati Bapat Marg, Dadar (West), Mumbai-400028. Pan: Aadtv1640C Acit (It)-4(3)(1), Kautilya Bhavan, G Block, Bandra Kurla Complex, Vs. Maharashtra-400051. Appellant) : Respondent) Ι.Τ.Α. No. 1279/Mum/2025 (Assessment Year: 2022-23) Vanguard Emerging Markets Stock Index Fund A Series Of Vieif, C/O Ernst & Young Llp, 14Th Floor, The Ruby, 29, Senapati Bapat Marg, Dadar (West), Mumbai-400028. Vs. Acit (It)-4(3)(1), Kautilya Bhavan, G Block, Bandra Kurla Complex, Maharashtra-400051. Pan: Aaaty0918K Appellant) : Respondent) 2

ITA 1279/MUM/2025[2022-23]Status: DisposedITAT Mumbai23 May 2025AY 2022-23

IN THE INCOME TAX APPELLATE TRIBUNAL “I” BENCH, MUMBAI BEFORE MS PADMAVATHY S, AM & SHRI RAHUL CHAUDHARY, JM Ι.Τ

Vanguard Emerging Markets Stock Index Fund A Series of Vief, Mumbai vs. Assistant Commissioner of Income Tax (International Taxation)-4(3)(1), Mumbai

Bench: Ms Padmavathy S, Am & Shri Rahul Chaudhary, Jm

ITA 1278/MUM/2025[2022-23]Status: DisposedITAT Mumbai23 May 2025AY 2022-23

domestic tax legislation also it is a general meaning is to be adopted. We find that the definition of shares even in Section 2(84) of the Companies Act, 2013 provides a restrictive definition of shares to mean a share in the share capital of a company and includes stock ... India- Ireland DTAA, evidencing that it only refers to share of a company. 3. 'Shares' have In terms of section 2(84) of the Companies Act, broader 2013, 'share' means a share in the share capital connotation and of a company and includes stock. meaning than Further, in terms

Vftc Institutional Total International Stock Market Index Trust II, Mumbai vs. Assistant Commissioner of Income Tax (International Taxation)-4(3)(1), Mumbai

Bench: Ms Padmavathy S, Am & Shri Rahul Chaudhary, Jm

ITA 1277/MUM/2025[2022-23]Status: DisposedITAT Mumbai23 May 2025AY 2022-23

Vanguard Emerging Markets Stock Index Fund A Series of vs. Plc, Mumbaivs.Assistant Commissioner of Income Tax International Taxation -4(3)(1), Mumbai

Bench: Ms Padmavathy S, Am & Shri Rahul Chaudhary, Jm

ITA 4657/MUM/2023[2021-22]Status: DisposedITAT Mumbai18 Mar 2025AY 2021-22

domestic tax legislation also it is a general meaning is to be adopted. We find that the definition of shares even in Section 2(84) of the Companies Act, 2013 provides a restrictive definition of shares to mean a share in the share capital of a company and includes stock ... India- Ireland DTAA, evidencing that it only refers to share of a company. 3. 'Shares' have In terms of section 2(84) of the Companies Act, broader 2013, 'share' means a share in the share capital connotation and of a company and includes stock. meaning than Further, in terms

Vanguard Emerging Markets Stock Index Fund A Series of Visplc, Mumbai vs. ACIT (International Tax)-4(3)(1), Mumbai

In the result, appeal of the assessee is allowed

Bench: SHRI AMIT SHUKLA (Judicial Member), MS PADMAVATHY S (Accountant Member)

Section 144C(13)Section 144C(5)Section 90

domestic tax legislation also it is a general meaning is to be adopted. We find that the definition of shares even in Section 2(84) of the Companies Act, 2013 provides a restrictive company and includes stock. Otherwise also an asset, which may come into existence or derive its value ... India-Ireland DTAA, evidencing that it only refers to share of a company. 3. 'Shares' have In terms of section 2(84) of the broader Companies Act, 2013, 'share' means a connotation and share in the share capital of a meaning than company and includes stock. 'equity' capital' Further

Saket Kanoi, Gurgaon vs. DCIT Intl. Taxation, Gurgaon

In the result, the appeal of the assessee is allowed

ITA 3243/DEL/2023[2021-22]Status: DisposedITAT Delhi23 Oct 2024AY 2021-22

Bench: Dr. B. R. R. Kumar, Sh. Yogesh Kumar Us

For Appellant: Sh. Sunny Jain, CAFor Respondent: Sh. Vizay B. Vasanta, CIT-DR