NIKESH ARORA,GURGAON vs. DCIT, INTERNATIONAL TAXATION, GURGON
In the result, appeal is allowed in the terms indicated above
ITA 1008/DEL/2022[2017-18]Status: DisposedITAT Delhi18 Jul 2024AY 2017-18
Bench: We Proceed To Deal With The Substantive Issues Arising
Section 143(3)Section 144C(13)Section 2
Court, the assessee has transferred certain shares to the name of
wife. However, in the return of wealth, the assessee claimed
exemption under section 5(1)(xx) of the Act in respect of such
asset. The issue which arose for consideration before the Hon’ble
Court was whether in respect ... shares transferred in the name of
wife, the assessee can claim exemption under section 5(1)(xx) of
the Act. After interpreting the provisions of sections 4(1) and 5(1)
of the Wealth Tax Act, the Court concluded that the assessee can
claim exemption in respect of shares transferred
