“Section 2(47)(1)”

TATA SONS LTD,MUMBAI vs. CIT 2, MUMBAI

In the result, appeal of the assessee is allowed

2(47)(ii) clearly\napplies to the cancellation of shares under the Scheme and in\nthe alternative, it is possible to contend that section 2(47)(1)\nmay also be applicable. Even in the impugned order, the Ld.\nPCIT accepts /proceeds on the basis that the transfer of a\ncapital

HEMA DALJIT SINGH CHADHA,MUMBAI vs. ITO 23(1)(5), MUMBAI

In the result, appeal filed by the assessee is fully allowed

Bench: Shri Kuldip Singh & Shri Gagan Goyalsmt. Hema Daljit Singh Chadha, Flat No. 204, Grant Canyon, Opp. Hdfc Bank, Pali Hill, Bandra West, Mumbai-400050. Pan: Acxpc0971B ...... Appellant Vs. Ito-23(1)(5), Room No. 114, Matru Mandir, 1St Floor, Tardeo Road, Mumbai-400007 ..... Respondent Appellant By : None Respondent By : Sh. Tejinder Pal Singh, Sr. Dr Date Of Hearing : 14/07/2022 Date Of Pronouncement : 10/10/2022 Order Per Gagan Goyal, A.M:

Chadha “1. Whether on the facts and in the circumstances of the case, the Ld. CII-4A) erred in holding that provisions of section 2(47)(1) are applicable in my case ignoring the fact that the period of holding the asset was 37 months as the final payment