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

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

68,361/- 24,77,27,856/- Short-term capital gain 25,34,72,144/-" ITA 12/2003 Page 7 of 28 5.7 The Assessee contended that it had received only Rs.32.48 crores in terms of the Scheme and the balance amount of Rs.17.64 crores was discharged by MTAIC by directly issuing fully paid shares to the shareholders of the Assessee; therefore

DCIT, NEW DELHI vs. M/S. MINDWORKS GLOBAL MEDIA SERVICES PVT. LTD., NEW DELHI

In the result appeal filed by the revenue stands dismissed

Bench: Sh. N. K. Saini & Smt. Beena A. Pillaidcit Mindworks Global Media A Circle-6(1), Services Pvt. Ltd. New Delhi Vs. E- 24, Second Floor, Greater Kailash Enclave, New Delhi Gir/Pan: Aadcm9970H (Appellant) (Respondent) A Appellant By : Sh.Rajesh Kumar, Sr. Dr Respondent By : Sh. Neeraj Sharma, Sh. Manpreet Bagga Cas. Date Of Hearing : 24.04.2017 Date Of Pronouncement : 27.04.2017

section 50A or 50B of the Act. Ld. CIT (A) has observed as under: “4.5 It is pertinent to mention that my Ld. Predecessor CIT(A)-IX referred the matter-to FT & TR Division of the Department for verifying the transaction through competent authority of the Government of Mauritius. The investigation report forwarded by FT & TR-Division does

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

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

SEKHRI BROTHERS,NEW DELHI vs. ACIT, NEW DELHI

In the result, the appeal by the assessee is treated as allowed for statistical purposes

Bench: Shri G.S. Pannu, Hon’Ble & Ms. Astha Chandraasstt. Year : 2011-12 Sekhri Brothers Vs. Acit, Circle-49(1) B-57/4, New Delhi. Mayapuri Industrial Area, Phase-1, New Delhi Pan Aamfs1085R (Appellant) (Respondent)

50B, it is clear that being special provision for computation of total capital gain in respect of slump sale, entire sale consideration -ar. per agreement dated 31.12.2010 of Rs. 12,91,00,000/- became due to be considered for computing capital gain for the year under consideration. Further, though, the appellant was entitled to raise any objection with regard

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

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 and the book value of\nthe PIAs of Rs.1622,77,60,000/- was taken as the cost

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)

50B(3) and computation of income filed by the assessee along with letter dated 28,.9.2009, the amount of sales consideration receipts from slump sales was shown at Rs.3 crores only, whereas the actual amount as per copy of slump sales agreement 9 submitted by the assessee should have been Rs.3 crores + value of net current assets (excluding cash

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