DCIT, NEW DELHI vs. M/S. MARUTI SUZUKI INDIA LTD., NEW DELHI

In the result, all the three appeals of the assessee are allowed as indicated above and the appeal of Revenue is partly allowed

Bench: Shris.Rifaur Rahman & Shri Vimal Kumar

Capital Gain/Short Term Capital Loss or any other sham transactions. " Similarly, the clarification for unlisted shares states: "It is, however, clarified that the above would not be necessarily applied in the situation where: (i) the genuineness of the transaction in unlisted shares itself is questionable; or (ii) the transfer of unlisted shares is related to an issue pertaining to lifting

SHANKER TRADING (P) LTD. vs. THE CIT

The appeals stand disposed of

capital expenditure. 2012:DHC:4107-DB ITAs 53/2000, 251/2007, 253/2007, 257/2007, 223/2002 247/2002, 45/2005, 50/2005, 1207/2005, 361/2008, 482/2008, 731/2008, 1191/2008, 1183/2010, 1198/2010, 842/2011 and 246/2005 Page 43 of 50 Applicability of Section 40A(2) of Income Tax Act 28. Coming to the second issue, Section 40A(2) of Income-tax Act reads as under:- “(2)(a) Where the assessee incurs

SHANKER TRADING (P) LTD. vs. THE CIT

The appeals stand disposed of

capital expenditure. 2012:DHC:4108-DB ITAs 53/2000, 251/2007, 253/2007, 257/2007, 223/2002 247/2002, 45/2005, 50/2005, 1207/2005, 361/2008, 482/2008, 731/2008, 1191/2008, 1183/2010, 1198/2010, 842/2011 and 246/2005 Page 43 of 50 Applicability of Section 40A(2) of Income Tax Act 28. Coming to the second issue, Section 40A(2) of Income-tax Act reads as under:- “(2)(a) Where the assessee incurs

SHANKER TRADING (P) LTD. vs. THE CIT

The appeals stand disposed of

capital expenditure. 2012:DHC:4121-DB ITAs 53/2000, 251/2007, 253/2007, 257/2007, 223/2002 247/2002, 45/2005, 50/2005, 1207/2005, 361/2008, 482/2008, 731/2008, 1191/2008, 1183/2010, 1198/2010, 842/2011 and 246/2005 Page 43 of 50 Applicability of Section 40A(2) of Income Tax Act 28. Coming to the second issue, Section 40A(2) of Income-tax Act reads as under:- “(2)(a) Where the assessee incurs

SHANKER TRADING (P) LTD. vs. THE CIT

The appeals stand disposed of

capital expenditure. 2012:DHC:4105-DB ITAs 53/2000, 251/2007, 253/2007, 257/2007, 223/2002 247/2002, 45/2005, 50/2005, 1207/2005, 361/2008, 482/2008, 731/2008, 1191/2008, 1183/2010, 1198/2010, 842/2011 and 246/2005 Page 43 of 50 Applicability of Section 40A(2) of Income Tax Act 28. Coming to the second issue, Section 40A(2) of Income-tax Act reads as under:- “(2)(a) Where the assessee incurs

SHANKER TRADING (P) LTD. vs. THE CIT

The appeals stand disposed of

capital expenditure. 2012:DHC:4120-DB ITAs 53/2000, 251/2007, 253/2007, 257/2007, 223/2002 247/2002, 45/2005, 50/2005, 1207/2005, 361/2008, 482/2008, 731/2008, 1191/2008, 1183/2010, 1198/2010, 842/2011 and 246/2005 Page 43 of 50 Applicability of Section 40A(2) of Income Tax Act 28. Coming to the second issue, Section 40A(2) of Income-tax Act reads as under:- “(2)(a) Where the assessee incurs

SHANKER TRADING (P) LTD. vs. THE CIT

The appeals stand disposed of

capital expenditure. 2012:DHC:4119-DB ITAs 53/2000, 251/2007, 253/2007, 257/2007, 223/2002 247/2002, 45/2005, 50/2005, 1207/2005, 361/2008, 482/2008, 731/2008, 1191/2008, 1183/2010, 1198/2010, 842/2011 and 246/2005 Page 43 of 50 Applicability of Section 40A(2) of Income Tax Act 28. Coming to the second issue, Section 40A(2) of Income-tax Act reads as under:- “(2)(a) Where the assessee incurs

SHANKER TRADING (P) LTD. vs. THE CIT

The appeals stand disposed of

capital expenditure. 2012:DHC:4123-DB ITAs 53/2000, 251/2007, 253/2007, 257/2007, 223/2002 247/2002, 45/2005, 50/2005, 1207/2005, 361/2008, 482/2008, 731/2008, 1191/2008, 1183/2010, 1198/2010, 842/2011 and 246/2005 Page 43 of 50 Applicability of Section 40A(2) of Income Tax Act 28. Coming to the second issue, Section 40A(2) of Income-tax Act reads as under:- “(2)(a) Where the assessee incurs

SHANKER TRADING (P) LTD. vs. THE CIT

The appeals stand disposed of

capital expenditure. 2012:DHC:4122-DB ITAs 53/2000, 251/2007, 253/2007, 257/2007, 223/2002 247/2002, 45/2005, 50/2005, 1207/2005, 361/2008, 482/2008, 731/2008, 1191/2008, 1183/2010, 1198/2010, 842/2011 and 246/2005 Page 43 of 50 Applicability of Section 40A(2) of Income Tax Act 28. Coming to the second issue, Section 40A(2) of Income-tax Act reads as under:- “(2)(a) Where the assessee incurs

SHANKER TRADING (P) LTD. vs. THE CIT

The appeals stand disposed of

capital expenditure. 2012:DHC:4115-DB ITAs 53/2000, 251/2007, 253/2007, 257/2007, 223/2002 247/2002, 45/2005, 50/2005, 1207/2005, 361/2008, 482/2008, 731/2008, 1191/2008, 1183/2010, 1198/2010, 842/2011 and 246/2005 Page 43 of 50 Applicability of Section 40A(2) of Income Tax Act 28. Coming to the second issue, Section 40A(2) of Income-tax Act reads as under:- “(2)(a) Where the assessee incurs

SHANKER TRADING (P) LTD. vs. THE CIT

The appeals stand disposed of

capital expenditure. 2012:DHC:4106-DB ITAs 53/2000, 251/2007, 253/2007, 257/2007, 223/2002 247/2002, 45/2005, 50/2005, 1207/2005, 361/2008, 482/2008, 731/2008, 1191/2008, 1183/2010, 1198/2010, 842/2011 and 246/2005 Page 43 of 50 Applicability of Section 40A(2) of Income Tax Act 28. Coming to the second issue, Section 40A(2) of Income-tax Act reads as under:- “(2)(a) Where the assessee incurs

SHANKER TRADING (P) LTD. vs. THE CIT

The appeals stand disposed of

capital expenditure. 2012:DHC:4104-DB ITAs 53/2000, 251/2007, 253/2007, 257/2007, 223/2002 247/2002, 45/2005, 50/2005, 1207/2005, 361/2008, 482/2008, 731/2008, 1191/2008, 1183/2010, 1198/2010, 842/2011 and 246/2005 Page 43 of 50 Applicability of Section 40A(2) of Income Tax Act 28. Coming to the second issue, Section 40A(2) of Income-tax Act reads as under:- “(2)(a) Where the assessee incurs

SHANKER TRADING (P) LTD. vs. THE CIT

The appeals stand disposed of

capital expenditure. 2012:DHC:4116-DB ITAs 53/2000, 251/2007, 253/2007, 257/2007, 223/2002 247/2002, 45/2005, 50/2005, 1207/2005, 361/2008, 482/2008, 731/2008, 1191/2008, 1183/2010, 1198/2010, 842/2011 and 246/2005 Page 43 of 50 Applicability of Section 40A(2) of Income Tax Act 28. Coming to the second issue, Section 40A(2) of Income-tax Act reads as under:- “(2)(a) Where the assessee incurs

SHANKER TRADING (P) LTD. vs. THE CIT

The appeals stand disposed of

capital expenditure. 2012:DHC:4124-DB ITAs 53/2000, 251/2007, 253/2007, 257/2007, 223/2002 247/2002, 45/2005, 50/2005, 1207/2005, 361/2008, 482/2008, 731/2008, 1191/2008, 1183/2010, 1198/2010, 842/2011 and 246/2005 Page 43 of 50 Applicability of Section 40A(2) of Income Tax Act 28. Coming to the second issue, Section 40A(2) of Income-tax Act reads as under:- “(2)(a) Where the assessee incurs

SHANKER TRADING (P) LTD. vs. THE CIT

The appeals stand disposed of

capital expenditure. 2012:DHC:4125-DB ITAs 53/2000, 251/2007, 253/2007, 257/2007, 223/2002 247/2002, 45/2005, 50/2005, 1207/2005, 361/2008, 482/2008, 731/2008, 1191/2008, 1183/2010, 1198/2010, 842/2011 and 246/2005 Page 43 of 50 Applicability of Section 40A(2) of Income Tax Act 28. Coming to the second issue, Section 40A(2) of Income-tax Act reads as under:- “(2)(a) Where the assessee incurs

SHANKER TRADING (P) LTD. vs. THE CIT

The appeals stand disposed of

capital expenditure. 2012:DHC:4127-DB ITAs 53/2000, 251/2007, 253/2007, 257/2007, 223/2002 247/2002, 45/2005, 50/2005, 1207/2005, 361/2008, 482/2008, 731/2008, 1191/2008, 1183/2010, 1198/2010, 842/2011 and 246/2005 Page 43 of 50 Applicability of Section 40A(2) of Income Tax Act 28. Coming to the second issue, Section 40A(2) of Income-tax Act reads as under:- “(2)(a) Where the assessee incurs

SHANKER TRADING (P) LTD. vs. THE CIT

The appeals stand disposed of

capital expenditure. 2012:DHC:4126-DB ITAs 53/2000, 251/2007, 253/2007, 257/2007, 223/2002 247/2002, 45/2005, 50/2005, 1207/2005, 361/2008, 482/2008, 731/2008, 1191/2008, 1183/2010, 1198/2010, 842/2011 and 246/2005 Page 43 of 50 Applicability of Section 40A(2) of Income Tax Act 28. Coming to the second issue, Section 40A(2) of Income-tax Act reads as under:- “(2)(a) Where the assessee incurs

SHANKER TRADING (P) LTD. vs. THE CIT

The appeals stand disposed of

capital expenditure. 2012:DHC:4113-DB ITAs 53/2000, 251/2007, 253/2007, 257/2007, 223/2002 247/2002, 45/2005, 50/2005, 1207/2005, 361/2008, 482/2008, 731/2008, 1191/2008, 1183/2010, 1198/2010, 842/2011 and 246/2005 Page 43 of 50 Applicability of Section 40A(2) of Income Tax Act 28. Coming to the second issue, Section 40A(2) of Income-tax Act reads as under:- “(2)(a) Where the assessee incurs

M/S MARUTI SUZUKI INDIA LTD.,,NEW DELHI vs. DCIT, NEW DELHI

capital gains not under the head income from\nBusiness.\n36. The next issue is whether the CBDT circular be applied prospectively or\nretrospectively, we observed that this issue was already addressed by the Hon’ble\nCalcutta High Court in the case of Century Plyboards I Ltd (supra), wherein it was\nheld that CBDT Circular 6/2016 dated 29/2/2016 would be applicable