CIT vs. DHARAMPAL SATYAPAL

Bench: HON'BLE DR. JUSTICE S.MURALIDHAR,HON'BLE MR. JUSTICE VIBHU BAKHRU

capital gains in the case of a slump sale as it was not possible to determine the cost of acquisition in case of sale of an undertaking or business on a slump sale basis. To address this issue, Section 2(42C) and Section 50B

TELETUBE ELECTRONICS LTD

The appeal of the Assessee is allowed

Section 50B (1) profits or gains arising from a slump sale would be chargeable to income tax as capital gains

CIT vs. M/S TELETUBE ELECTRONICS LTD

The appeal of the Assessee is allowed

Section 50B (1) profits or gains arising from a slump sale would be chargeable to income tax as capital gains

TELETUBE ELECTRONICS LTD

The appeal of the Assessee is allowed

Section 50B (1) profits or gains arising from a slump sale would be chargeable to income tax as capital gains

SHRI BALAJI INDUSTRIES COMPLEX,BADAUN vs. CIT, MORADABAD

In the result, the appeal of the assessee stands allowed

Bench: Shri N.K.Billaiya & Shri Sudhanshu Srivastavaassessment Year: 2009-10 Balaji Industries Complex, Cit, Ismailpur, Moradabad-244001 Vs Badaun. (Pan: Abefs3007Q) Appellant Respondent Assessee By: Mr. Abhinav Mehrotra, Adv. Department By: Smt. Meeta Singh C.I.T. Dr Date Of Hearing: 19.06.2018 Date Of Pronouncement: 17.09.2018

50B of the Act and not section 50C of the Act and, therefore, the Ld. Pr. C.I.T. was patently wrong in directing the Assessing Officer to re-compute the value of capital gains

CONTINENTAL CONSTRUCTION LTD.,NEW DELHI vs. ACIT, NEW DELHI

Appeal is dismissed

Bench: Ms Suchitra Kamble & Shri P. Maharishi & Vs Continental Construction Acit, Ltd, 28, Nehru Place, Circle – 3(1), New Delhi – 110019. Room No.390, C.R. Building, (Pan: Aaacc 2309 R) Indraprastha Estate, New Delhi (Appellant) (Respondent) & Vs Acit, Continental Construction Ltd, Circle – 3(1), 28, Nehru Place, New Delhi – 110019. Room No.390, C.R. (Pan: Aaacc 2309 R) Building, Indraprastha Estate, New Delhi (Appellant) (Respondent) Appellant By Shri Subodh Gupta, Fca Respondent By Ms. Nidhi Srivastava, Cit-D.R. Date Of Hearing 14.08.2020 Date Of Pronouncement 23.09.2020

50B. The Assessing Officer treated a part of the said receipt as business income and a part as short term capital gains u/s 50 of the Act. Further, the returned total income included a sum of Rs. 8,21,49,466/- on account of interest accrued on sums receivables from Iraq in terms of deferred payment agreement between Govt

COMMISSIONER OF INCOME TAX vs. M/S SALORA INTERNATIONAL LTD.

Bench: HON'BLE DR. JUSTICE S.MURALIDHAR,HON'BLE MR. JUSTICE VIBHU BAKHRU

Capital Gains' could be computed under Section 48 of the Act (given that no separate asset had been transferred but the entire Panasonic Division ITA 12/2003 Page 15 of 28 has been transferred as a going concern by the Assessee to MTAIC). Although the Tribunal had noted that Section 50B

M/S. VIRTUAL SOFTWARE & TRAINING PVT. LTD.,NEW DELHI vs. ITO, NEW DELHI

In the result, appeal of the assessee is dismissed

Bench: Sh. H.S. Sidhu & Sh. O.P. Kantassessment Year: 2001-02 Vs. Income Tax Officer, Ward -17(4), M/S. Virtual Software & Training Pvt. Ltd., N-136, Panchsheel New Delhi Park, New Delhi Pan : Aaacv8390F (Appellant) (Respondent) Appellant By S/Sh. L.K. Paonam, Ar; K.R. Shukla, Adv.; & Bhupendra Respondent By Sh. Umesh Chand Dubey, Sr.Dr Date Of Hearing 18.05.2017 Date Of Pronouncement 29.05.2017 Order Per O.P. Kant, A.M.: This Appeal By The Assessee Is Directed Against Order Dated 26/03/2013 Of Ld. Commissioner Of Income-Tax (Appeals)-19, New Delhi, For Assessment Year 2001-02 Raising Various Grounds. The Assessee Revised Its Grounds Of Appeal Vide Letter Dated 07/09/2015, Which Were Admitted. The Revised Grounds Of Appeal Are Reproduced As Under:

section 50B of the Act and short-term capital gain was computed taking the sale consideration at Rs.4,50,00 000/-on the basis

TOSCANA LASTS LTD.,NEW DELHI vs. ITO, NEW DELHI

The appeal is dismissed

Bench: Shri I.C. Sudhir & Shri L.P. Sahu Assessment Year: 2007-08 Toscana Lasts Ltd., Vs. Ito, (Since Amalgamated With Avantha Ward 16(3), Reality Ltd.), Thapar House, New Delhi. 124-Janpath, New Delhi. (Pan: Aaact3805H) (Appellant) (Respondent) Assessment Year: 2007-08 Ito, Vs. Toscana Lasts Ltd., Ward 16(3), (Since Amalgamated With New Delhi. Avantha Reality Ltd.), Thapar House, 124-Janpath, New Delhi. (Pan: Aaact3805H) (Appellant) (Respondent)

Section SOB (3) relating to computation of Capital Gains in case of Slump Sale returned Capital gains ujs SOB at Rs.41,50,SOOj-. In the course of Assessment proceedings the appellant company revised the computation of Capital Gain which is as under: Particulars Amount (Rs.) Sale Consideration 4,18,07,6611- Less:- Net worth of the undertaking WDV of Fixed

INDUS TOWERS LTD.,GURGAON vs. DCIT CIRCLE 12(1), NEW DELHI

In the result, the appeal of the revenue is dismissed

Bench: Shri M. Balaganesh & Shri Vimal Kumarindus Towers Ltd (Formerly Vs. Dcit, Known As Bharti Infratel Ltd), Circle-12(1), 4Th Floor, Dlf Cybercity, New Delhi Building No. 10, Tower A, Dlf Qe, So Gurgaon, Haryana (Appellant) (Respondent) Pan: Aadcv0274F Acit, Vs. Indus Towers Ltd, 4Th Floor, Dlf Cybercity, Central Circle-10, New Delhi Gurgaon, Haryana (Appellant) (Respondent) Pan: Aadcv0274F Indus Towers Ltd (Formerly Vs. Dcit, Known As Bharti Infratel Ltd), Circle-12(1), 4Th Floor, Dlf Cybercity, New Delhi Building No. 10, Tower A, Dlf Qe, So Gurgaon, Haryana (Appellant) (Respondent) Pan: Aadcv0274F Assessee By : Shri Ajay Vohra, Sr. Adv Shri Rohit Jain, Adv Shri Deepesh Jain, Adv Ms. Shaurya Jain, Ca Revenue By: Shri Mukesh Kumar Jain, Cit Dr Date Of Hearing 12/09/2024 Date Of Pronouncement 10/12/2024

gains accruing to the assessee had to be considered as flowing from the slump sale as per section 50B of the Act. The revaluation of ABTL's investment in Indus at Rs. 7330,75,56,000/- ason 31-3-2010 which was apparently because of the transfer of PIAs from the assessee to Indus was treated as the full consideration

ACIT , CIRCLE 10, NEW DELHI vs. INDUS TOWER LIMITED, GURGAON

In the result, the appeal of the revenue is dismissed

Bench: Shri M. Balaganesh & Shri Vimal Kumarindus Towers Ltd (Formerly Vs. Dcit, Known As Bharti Infratel Ltd), Circle-12(1), 4Th Floor, Dlf Cybercity, New Delhi Building No. 10, Tower A, Dlf Qe, So Gurgaon, Haryana (Appellant) (Respondent) Pan: Aadcv0274F Acit, Vs. Indus Towers Ltd, 4Th Floor, Dlf Cybercity, Central Circle-10, New Delhi Gurgaon, Haryana (Appellant) (Respondent) Pan: Aadcv0274F Indus Towers Ltd (Formerly Vs. Dcit, Known As Bharti Infratel Ltd), Circle-12(1), 4Th Floor, Dlf Cybercity, New Delhi Building No. 10, Tower A, Dlf Qe, So Gurgaon, Haryana (Appellant) (Respondent) Pan: Aadcv0274F Assessee By : Shri Ajay Vohra, Sr. Adv Shri Rohit Jain, Adv Shri Deepesh Jain, Adv Ms. Shaurya Jain, Ca Revenue By: Shri Mukesh Kumar Jain, Cit Dr Date Of Hearing 12/09/2024 Date Of Pronouncement 10/12/2024

gains accruing to the assessee had to be considered as flowing from the slump sale as per section 50B of the Act. The revaluation of ABTL's investment in Indus at Rs. 7330,75,56,000/- ason 31-3-2010 which was apparently because of the transfer of PIAs from the assessee to Indus was treated as the full consideration

INDUS TOWERS LIMITED (FORMERLY KNOWN AS BHARTI INFRATEL LTD AND AS SUCCESSOR IN INTEREST OF ERSTWHILE INDUS TOWER LTD) ,GURUGRAM, HARYANA vs. DCIT, CIRCLE 12(1), NEW DELHI

In the result, the appeal of the revenue is dismissed

Bench: Shri M. Balaganesh & Shri Vimal Kumarindus Towers Ltd (Formerly Vs. Dcit, Known As Bharti Infratel Ltd), Circle-12(1), 4Th Floor, Dlf Cybercity, New Delhi Building No. 10, Tower A, Dlf Qe, So Gurgaon, Haryana (Appellant) (Respondent) Pan: Aadcv0274F Acit, Vs. Indus Towers Ltd, 4Th Floor, Dlf Cybercity, Central Circle-10, New Delhi Gurgaon, Haryana (Appellant) (Respondent) Pan: Aadcv0274F Indus Towers Ltd (Formerly Vs. Dcit, Known As Bharti Infratel Ltd), Circle-12(1), 4Th Floor, Dlf Cybercity, New Delhi Building No. 10, Tower A, Dlf Qe, So Gurgaon, Haryana (Appellant) (Respondent) Pan: Aadcv0274F Assessee By : Shri Ajay Vohra, Sr. Adv Shri Rohit Jain, Adv Shri Deepesh Jain, Adv Ms. Shaurya Jain, Ca Revenue By: Shri Mukesh Kumar Jain, Cit Dr Date Of Hearing 12/09/2024 Date Of Pronouncement 10/12/2024

gains accruing to the assessee had to be considered as flowing from the slump sale as per section 50B of the Act. The revaluation of ABTL's investment in Indus at Rs. 7330,75,56,000/- ason 31-3-2010 which was apparently because of the transfer of PIAs from the assessee to Indus was treated as the full consideration

INDUS TOWERS LTD.,GURUGRAM, HARYANA vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE 12(1), NEW DELHI, NEW DELHI

In the result, appeal of the Revenue is dismissed

gains accruing to the\nassessee had to be considered as flowing from the slump sale as\nper section 50B of the Act. The revaluation of ABTL's investment in\nIndus at Rs.7330,75,56,000/- as on 31-3-2010 which was\napparently because of the transfer of PIAs from the assessee to\nIndus was treated as the full consideration

DY. COMMISSIONER OF INCOME TAX CIRCLE 10(1), DELHI, CR BUILDING vs. INDUS TOWERS LIMITED, GURGRAM

In the result, appeal of the Revenue is dismissed

gains accruing to the\nassessee had to be considered as flowing from the slump sale as\nper section 50B of the Act. The revaluation of ABTL's investment in\nIndus at Rs.7330,75,56,000/- as on 31-3-2010 which was\napparently because of the transfer of PIAs from the assessee to\nIndus was treated as the full consideration

ACIT, NEW DELHI vs. M/S. MAX HEALTHCARE INSTITUTE LTD., NEW DELHI

Bench: Shri G.S.Pannu, Hon‟Ble & Shri Anubhav Sharma

gain arising out of transfer of healthcare business of slump sale basis to capital tax u/s 50B the provision of explanation 6 to section

ACIT, NEW DELHI vs. M/S. MAX HEALTHCARE INSTITUTE LTD., NEW DELHI

Bench: Shri G.S.Pannu, Hon‟Ble & Shri Anubhav Sharma

gain arising out of transfer of healthcare business of slump sale basis to capital tax u/s 50B the provision of explanation 6 to section

ACIT, NEW DELHI vs. M/S. MAX HEALTHCARE INSTITUTE LTD., NEW DELHI

Bench: Shri G.S.Pannu, Hon‟Ble & Shri Anubhav Sharma

gain arising out of transfer of healthcare business of slump sale basis to capital tax u/s 50B the provision of explanation 6 to section

ACIT, NEW DELHI vs. M/S. MAX HEALTHCARE INSTITUTE LTD., NEW DELHI

Bench: Shri G.S.Pannu, Hon‟Ble & Shri Anubhav Sharma

gain arising out of transfer of healthcare business of slump sale basis to capital tax u/s 50B the provision of explanation 6 to section