Commissioner of Income Tax vs. ECE Industries Limited

depreciable assets. The AO had not accepted this contention and held that Section 50 was applicable and he, therefore, computed short term capital gain at `36.89 Crores on the sale of the said division, which is as under: “COMPUTATION OF SHORT TERM CAPITAL GAIN OF SALE OF LAMP DIVSIION AS PER SECTION 50[2] Sale consideration received on transfer

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

Bench: Shri Yogesh Kumar U.S & Shri Manish Agarwal

depreciation only on written down value of assets being transferred from PSCL to Ponni Sugars (Erode) Ltd. Hon'ble High Court held that the order sanctioning scheme of arrangement by the company Court pursuant to Section 391 to 394 of the Companies Act, 1956 will have a statutory force binding on all the concerned and the sanction of the Court

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

Bench: Shri Yogesh Kumar U.S & Shri Manish Agarwal

depreciation only on written down value of assets being transferred from PSCL to Ponni Sugars (Erode) Ltd. Hon'ble High Court held that the order sanctioning scheme of arrangement by the company Court pursuant to Section 391 to 394 of the Companies Act, 1956 will have a statutory force binding on all the concerned and the sanction of the Court

CIT vs. M/S TELETUBE ELECTRONICS LTD

The appeal of the Assessee is allowed

50B (1) profits or gains arising from a slump sale would be chargeable to income tax as capital gains arising from the transfer of long 2015:DHC:8039-DB ITA Nos. 38 of 2002 & 132 of 2002 Page 17 of 32 term capital assets and which shall be deemed to be the income of the previous year in which

TELETUBE ELECTRONICS LTD

The appeal of the Assessee is allowed

50B (1) profits or gains arising from a slump sale would be chargeable to income tax as capital gains arising from the transfer of long 2015:DHC:8039-DB ITA Nos. 38 of 2002 & 132 of 2002 Page 17 of 32 term capital assets and which shall be deemed to be the income of the previous year in which

TELETUBE ELECTRONICS LTD

The appeal of the Assessee is allowed

50B (1) profits or gains arising from a slump sale would be chargeable to income tax as capital gains arising from the transfer of long 2015:DHC:8039-DB ITA Nos. 38 of 2002 & 132 of 2002 Page 17 of 32 term capital assets and which shall be deemed to be the income of the previous year in which

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

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

50B the provision of explanation 6 to section 43(1) read with explanation 2 to section 43(6) of the Act were not attracted. Accordingly, the ld CIT(A) held that actual cost of acquisition in the hands of Assessee shall not be adopted for the purpose of claiming depreciation

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

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

50B the provision of explanation 6 to section 43(1) read with explanation 2 to section 43(6) of the Act were not attracted. Accordingly, the ld CIT(A) held that actual cost of acquisition in the hands of Assessee shall not be adopted for the purpose of claiming depreciation

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

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

50B the provision of explanation 6 to section 43(1) read with explanation 2 to section 43(6) of the Act were not attracted. Accordingly, the ld CIT(A) held that actual cost of acquisition in the hands of Assessee shall not be adopted for the purpose of claiming depreciation

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

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

50B the provision of explanation 6 to section 43(1) read with explanation 2 to section 43(6) of the Act were not attracted. Accordingly, the ld CIT(A) held that actual cost of acquisition in the hands of Assessee shall not be adopted for the purpose of claiming depreciation

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

depreciation only on written down value of assets being transferred from PSCL to Ponni Sugars (Erode) Ltd. Hon‟ble High Court held that the order sanctioning scheme of arrangement by the company Court pursuant to Section 391 to 394 of the Companies Act, 1956 will have a statutory force binding on all the concerned and the sanction of the Court

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

depreciation only on written down value of assets being transferred from PSCL to Ponni Sugars (Erode) Ltd. Hon‟ble High Court held that the order sanctioning scheme of arrangement by the company Court pursuant to Section 391 to 394 of the Companies Act, 1956 will have a statutory force binding on all the concerned and the sanction of the Court

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

depreciation only on written down value of assets being transferred from PSCL to Ponni Sugars (Erode) Ltd. Hon‟ble High Court held that the order sanctioning scheme of arrangement by the company Court pursuant to Section 391 to 394 of the Companies Act, 1956 will have a statutory force binding on all the concerned and the sanction of the Court

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

depreciable items had to be taxed under ‘short term capital gains’. The Ld. Pr. C.I.T. was also of the view that the stamp duty value of the property was to be deemed as full value of the consideration for the purpose of section 48 r/w section 50C of the Act. The Ld. Pr. C.I.T. directed the Assessing Officer to examine

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

depreciable asset only". The Tribunal referred to the decision of the Supreme Court in CIT v. Mugneeram Bangur & Co. (Land Department): (1965) 57 ITR 299 (SC) and held that Section 50(1) of the ITA 12/2003 Page 11 of 28 Act was inapplicable. The Tribunal also noticed the provisions of Section 50B

COMMISSIONER OF INCOME TAX -XI vs. SANGEETA WIG

depreciable assets and the book value of the other assets, in accordance with Explanation 2 to section 50B of the Act. The long term capital gain was thus calculated at `1

COMMISSIONER OF INCOME TAX -XI vs. SANGEETA WIG

depreciable assets and the book value of the other assets, in accordance with Explanation 2 to section 50B of the Act. The long term capital gain was thus calculated at `1