DEV KUMAR ROY ,BANGALORE vs. INCOME TAX OFFICER WARD-3(1)(1), BANGALORE

In the result, appeal of the assessee is partly allowed

Bench: Shri N.V. Vasudevan & Shri Jason P Boazassessment Year : 2012-13

TP Act, 1882 and GT Act, 1958 and a company can make a gift to another company, which is valid in law. Accordingly, we accept the legal capacity of the assessee company to gift its shares in RGF Gulf to Rh-IL Cayman.” 24. The Hon’ble Karnataka High Court in the case of CIT Vs. Nadatur Holdings and Investments

GE MEDICAL SYSTEMS INDIA PRIVATE LIMITED,BANGALORE vs. DCIT, BANGALORE

In the result, the revenue’s appeal is dismissed and the assessee’s appeal is partly allowed