ADITYA BIRLA TELECOM LIMITED,MUMBAI vs. DY. COMM OF INCOME TAX 10(1), MUMBAI

In the result appeal of the assessee is allowed in part in terms indicated hereinabove

capital gains tax can be levied on such transfer under Section 50B of the Act; Ground no. 6 - Amortization of telecom

NELCO LTD.,MUMBAI vs. A.C.I.T. RG. 15(2)(1), MUMBAI

In the result, appeal of assessee is dismissed

Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm Asst. Commissioner Of Income Tax, Range 15(2)(1) Nelco Limited Room No.357, 2Nd Floor, El-6, Electronic Zone, Mahape, Navi Mumbai-400710 Vs. Aaykar Bhavan, M.K. Road, Mumbai-400 020 (Appellant) (Respondent) Pan No. Aaact1983C

capital gains under section 50B of the Act. 2. The learned CIT(A) has erred in confirming the action of the assessing

DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-5(4), MUMBAI, MUMBAI vs. LARSEN AND TOUBRO LTD, MUMBAI

In the result the cross appeal filed by the revenue as well as\nassessee stands dismissed

50B", "Section 48", "Section 32(1)(iia)", "Section 147", "Section 148" ], "issues": "1. Whether transfer expenses are deductible while computing capital gains

UNIVERSAL MEDICARE P.LTD,MUMBAI vs. DCIT CEN CIR 3(2), MUMBAI

In the result this ground of appeal is allowed for

Bench: Shri Pawan Singh & Shri S. Rifaur Rahmanuniversal Medicare Pvt. Ltd., Dcit, Central Cricle-3(2), Capsulation Premises, Mumbai (Erstwhile Asst. Sion Trombay Road, Deonar, Vs. Commissioner Of Income Mumbai-400088. Tax, Cc-20, Mumbai), Room No. 1923, 19Th Floor, Pan: Aaacu0717B Air India Building, Nariman Point, Mumbai-400021. Appellant Respondent C.O. No. 268/Mum/2017 (Assessment Year 2012-13) Dcit, Central Cricle-3(2), Universal Medicare Pvt. Ltd., Mumbai (Erstwhile Asst. Capsulation Premises, Commissioner Of Income Vs. Sion Trombay Road, Deonar, Tax, Cc-20, Mumbai), Room Mumbai-400088. No. 1923, 19Th Floor, Air Pan: Aaacu0717B India Building, Nariman Point, Mumbai-400021. Appellant Respondent Appellant By : Shri J.D. Mistry Senior Advocate With Shri Manish Shah Advocate Respondent By : Mrs. S. Padmaja (Cit-Dr)

section 50B clearly states that any profit or gain arising from slum sale effected in the previous year shall be chargeable to tax as Capital

ISC SPECIALITY CHEMICALS LLP ,MUMBAI vs. ITO WARD 19(1)(5), MUMBAI

In the result the appeal filed by the assessee stands partly allowed

Bench: Smt. Beena Pillai () & Shri Girish Agrawal ()

capital gain. 7. Without prejudice to the above, the conversion of private limited company into LLP in lieu of interest in the LLP given to the shareholders is case of "slump exchange" and therefore, not chargeable to tax. 8. Without prejudice to the above, section 50B

M/S. LAFFANS PETROCHEMICALS LTD.,MUMBAI vs. DCIT RANGE- 10(2)(1), MUMBAI

In the result, appeal of the assessee is party allowed

Bench: Shri G.S. Pannu & Shri Ravish Soodassessment Year : 2012-13

Capital Gain in terms of section 50B of the Act and recomputed the Long Term Capital Gain at Rs. 41,16,73,633/-.In doing

ADDL CIT 1(1), MUMBAI vs. BENNETT COLEMAN & CO LTD, MUMBAI

Appeal of the Revenue is dismissed as above

Bench: Shri D.T. Garasia & Shri Rajesh Kumarassessment Year: 2008-09 M/S. Bennett Coleman & Addl. Commissioner Of Co. Ltd., Income Tax, The Time Of India Bldg., Range – 1(1), Vs. Dr. D.N. Road, Room No.538, Mumbai – 400 001 Aayakar Bhavan, Pan: Aaacb4373Q M.K. Marg, Mumbai – 400 020 (Appellant) (Respondent) Assessment Year: 2008-09

50B signed by an 'accountant4 as defined in sub-section(2) of section 288 of the Income-tax Act, which shows the computation of capital gain

BENNETT COLEMAN & CO. LTD,MUMBAI vs. ASST CIT RG 1(1), MUMBAI

Appeal of the Revenue is dismissed as above

Bench: Shri D.T. Garasia & Shri Rajesh Kumarassessment Year: 2008-09 M/S. Bennett Coleman & Addl. Commissioner Of Co. Ltd., Income Tax, The Time Of India Bldg., Range – 1(1), Vs. Dr. D.N. Road, Room No.538, Mumbai – 400 001 Aayakar Bhavan, Pan: Aaacb4373Q M.K. Marg, Mumbai – 400 020 (Appellant) (Respondent) Assessment Year: 2008-09

50B signed by an 'accountant4 as defined in sub-section(2) of section 288 of the Income-tax Act, which shows the computation of capital gain

DUN & BRADSTREET INFORMATION SERVICES INDIA P. LTD,MUMBAI vs. CIT 8, MUMBAI

In the result, the appeal filed by the assessee is allowed

Bench: Shri B. R. Baskaran, Am & Shri Sandeep Gosain, Jm Dun & Bradstreet Information Vs. The Commissioner Of Services India Pvt. Ltd., Icc Income Tax, Chambers, 98, Saki Vihar Road, Aayakar Bhavan, Powai, Mumbai 400 072 M. K. Road, Mumbai Pan: Aaacd P Appellant .. Respondent

50B and Section 436) of the Act. 5. The CIT erred in directing the AO to compute the total income of the Software Technology Park Unit by reducing depreciation of Rs.19,968,604 both for the purpose of deduction under Section 10A of the Act as well as for t he purpose of computing Capital Gains

DCIT CEN CIR 1(4), MUMBAI vs. GRASIM INDUSTRIES LTD, MUMBAI

In the result, appeal of the revenue and the assessee are partly allowed, and the additional ground of the assessee is dismissed

Bench: Shri Narendra Kumar Billaiya & Shri Anikesh Banerjee

capital asset being transferred i.e. the undertaking cannot be determined. This position underwent a change pursuant to the insertion of section 50B of the Act. Section 50B of the Act, as it stood for the relevant assessment year under, is reproduced hereunder: (1) Any profits or gains

ORICON ENTERPRISES LTD,MUMBAI vs. ACIT CEN CIR 3(3), MUMBAI

Bench: S/Sh. Rajendra & Pawan Singh

capital gain, that it had voluntarily paid tax on the same when the return was filed u/s.139(1),that the above admitted fact remained so even when the return was filed in response to notice u/s.148, that subsequent to the reassessment proceedings the dispute or the grievance of the assessee was confined to the computation as per section 50B

WOCKHARDT HOSPITALS LTD,MUMBAI vs. ADDL CIT RG 10(1), MUMBAI

Bench: S/Sh.Rajendra & Amarjit Singhआयकर अपील सं./I.T.A./7454/Mum/2013,िनधा"रण िनधा"रण वष" वष" /Assessment Year: 2010-11 िनधा"रण िनधा"रण वष" वष" M/S. Wockhardt Hospitals Limited Addl. Cit-10(1) Wockhardt Towers, Bandra Kurla Room No.454, Aayakar Bhavan Vs. Complex, Bandra (E),Mumbai-400 051. M.K. Road,Mumbai-20. Pan:Aaacw 3342 G (अपीलाथ" /Appellant) (""यथ" / Respondent) आयकर अपील सं./I.T.A./7021/Mum/2013,िनधा"रण िनधा"रण वष" वष" /Assessment Year: 2010-11 िनधा"रण िनधा"रण वष" वष" Acit-10(1) Vs. M/S. Wockhardt Hospitals Limited Aayakar Bhavan,Mumbai. Mumbai-51. (अपीलाथ" /Appellant) (""यथ" / Respondent) राज"व क" ओर से / Revenue By: Ms. Sunita Billa-Dr अपीलाथ" क" ओर से /Assessee By:Shri Niraj Sheth सुनवाई क" तारीख / Date Of Hearing: 08.12.2016 घोषणा क" तारीख / Date Of Pronouncement: 06.01.2017 आयकर आयकर अिधिनयम आयकर आयकर अिधिनयम अिधिनयम,1961 क" अिधिनयम क" क" धारा क" धारा धारा 254(1)केकेकेके अ"तग"त धारा अ"तग"त अ"तग"त आदेश अ"तग"त आदेश आदेश आदेश Order U/S.254(1)Of The Income-Tax Act,1961(Act) लेखा लेखा सद"य लेखा लेखा सद"य सद"य, राजे"" सद"य राजे"" राजे"" केकेकेके अनुसार राजे"" अनुसार अनुसार/ Per Rajendra A.M.- अनुसार Challenging The Order Dated 25/09/2013 Of The Cit (A)-21,Mumbai The Assessee & The Assessing Officer(Ao)Have Filed Cross Appeals For The Above-Mentioned Assessment Year. Assessee-Company,Engaged In The Business Of Running Hospitals,Filed Its Return Of Income On 15/10/2010.A Revised Return Was Filed On 01/03/2012,Declaring Income At Rs. 8.19 Crores.The Ao Completed The Assessment,U/S.143 (3) Of The Act,On 28/03/2013, Determining Its Income At Rs.325.89 Crores.

capital gains had to be considered, that the provisions of section 50B provided for competition of net worth.Referring to the case

ASSISTANT COMMISSIONER OF INCOME TAX 14(1)(2), MUMBAI, MUMBAI vs. VALVAYA CAPITAL PRIVATE LIMITED, MUMBAI

In the result, the appeal is dismissed

Bench: Shri Saktijit Dey & Shri Makarand Vasant Mahadeokarasst. Cit-14(1)(2) Valvaya Capital Private Limited Aayakar Bhavan, Churchgate, Shop No. 14, Lovely Home Chs Mumbai-400 020 Vs. Ltd., Church Road, Kalina, Santacruz (E), Mumbai-400 029 Pan/Gir No. Aabce 8567 E (Appellant) : (Respondent) Appellant By : Shri Reepal Trashawala Respondent By : Shri Nayanjyoti Nath Date Of Hearing : 09.03.2026 Date Of Pronouncement : 08.04.2026 O R D E R Per Saktijit Dey: This Is An Appeal By The Department, Against Order Dated 27.10.2025 Passed By National Faceless Appeal Centre (‘Nfac’ For Short), Delhi For The Assessment Year (A.Y. For Short) 2015-16. 2. The Sole Issue Arising In The Present Appeal Relates To Reduction Of An Amount Of Rs.5,70,31,124/-, Being Capital Work-In-Progress, While Computing The Capital Gain U/S. 50B Of The Income Tax Act, 1961 (‘The Act’ For Short).

50B of the Act at Rs.28,86,78,997/- as against the capital gain of Rs.34,57,10,121/- offered in the original return of income. Explaining further, the assessee submitted that in the original return of income, while computing the capital gain on slump sale in terms with section

THE DY CIT CIR.1(1), MUMBAI vs. M/S. AEGIS LOGISTICS LTD, MUMBAI

Appeal stands allowed

Bench: S/Sh.Rajendra & C. N. Prasadआयकर अपील सं./Ita/7825/Mum/2004,िनधा"रण वष" /Assessment Year:1999-2000 आयकर अपील सं./Ita/6905/Mum/2006 ,िनधा"रण वष" /Assessment Year:1999-2000 Aegis Logistics Limited Acit, Circle-1(1) 403, Peninsula Chambers, Morarjee Mills Mumbai. Compound,G.K. Marg, Lower Parel(W) Vs. Mumbai-400 013. Pan:Aaaca 3302 N (अपीलाथ" /Appellant) (""यथ" / Respondent) आयकर अपील सं./I.T.A./8372/Mum/2004 ,िनधा"रण वष" /Assessment Year:1999-2000 Acit, Circle-1(1) Vs. Aegis Logistics Limited Mumbai. Mumbai-400013 (अपीलाथ" /Appellant) (""यथ" / Respondent) राज"व क" ओर से / Revenue By: Shri S.K. Mishra-Dr अपीलाथ" क" ओर से /Assessee By: Shri Percy Pardiwala/Ms. Vasanti Patel सुनवाई क" तारीख / Date Of Hearing: 09/02/2017 घोषणा क" तारीख / Date Of Pronouncement:10/03/2017 लेखा लेखा सद"य लेखा लेखा सद"य सद"य, राजे"" सद"य राजे"" राजे"" केकेकेके अनुसार राजे"" अनुसार अनुसार/ Per Rajendra A.M.- अनुसार Challenging The Order Dated 16.6.2004 Of The Cit(A)-I,Mumbai The Assessee & The Assessing Officer(Ao)Have Filed Cross Appeals For The Year Under Consideration.The Assessee Has Also Filed Against The Penalty Imposed U/S.271(1)(C) For The Year Under Appeal.We Will Be Deciding All The Appeals By Single Common Order.Assessee-Company,Engaged In Business Of Manufacturing Of Chemicals,Filed Its Return Of Income,On 31.12.1999,Declaring Total Income Of Rs.5.97Crores.The Ao Completed Assessment U/S.143(3) Of The Act On 28.3.2002 Determin -Ing Its Income At Rs.13.93Crores. During The Course Of Hearing Before Us The Authorised Representative (Ar) Stated That The Assessee Was Not Interested In Pursuing Grounds No1.A, 1.C, 1.D & 1.E. Hence,Same Stand Dismissed, As Not Pressed.

capital gains tax.He referred to the case of Syndicate Bank Ltd.(155ITR681); Evans Frazer & Co.Ltd.(137ITR 493) and referred to provisions of section 50B

M/S. AEGIS LOGISTICS LTD.,MUMBAI vs. ACIT CIR. 1(1), MUMBAI

Appeal stands allowed

Bench: S/Sh.Rajendra & C. N. Prasadआयकर अपील सं./Ita/7825/Mum/2004,िनधा"रण वष" /Assessment Year:1999-2000 आयकर अपील सं./Ita/6905/Mum/2006 ,िनधा"रण वष" /Assessment Year:1999-2000 Aegis Logistics Limited Acit, Circle-1(1) 403, Peninsula Chambers, Morarjee Mills Mumbai. Compound,G.K. Marg, Lower Parel(W) Vs. Mumbai-400 013. Pan:Aaaca 3302 N (अपीलाथ" /Appellant) (""यथ" / Respondent) आयकर अपील सं./I.T.A./8372/Mum/2004 ,िनधा"रण वष" /Assessment Year:1999-2000 Acit, Circle-1(1) Vs. Aegis Logistics Limited Mumbai. Mumbai-400013 (अपीलाथ" /Appellant) (""यथ" / Respondent) राज"व क" ओर से / Revenue By: Shri S.K. Mishra-Dr अपीलाथ" क" ओर से /Assessee By: Shri Percy Pardiwala/Ms. Vasanti Patel सुनवाई क" तारीख / Date Of Hearing: 09/02/2017 घोषणा क" तारीख / Date Of Pronouncement:10/03/2017 लेखा लेखा सद"य लेखा लेखा सद"य सद"य, राजे"" सद"य राजे"" राजे"" केकेकेके अनुसार राजे"" अनुसार अनुसार/ Per Rajendra A.M.- अनुसार Challenging The Order Dated 16.6.2004 Of The Cit(A)-I,Mumbai The Assessee & The Assessing Officer(Ao)Have Filed Cross Appeals For The Year Under Consideration.The Assessee Has Also Filed Against The Penalty Imposed U/S.271(1)(C) For The Year Under Appeal.We Will Be Deciding All The Appeals By Single Common Order.Assessee-Company,Engaged In Business Of Manufacturing Of Chemicals,Filed Its Return Of Income,On 31.12.1999,Declaring Total Income Of Rs.5.97Crores.The Ao Completed Assessment U/S.143(3) Of The Act On 28.3.2002 Determin -Ing Its Income At Rs.13.93Crores. During The Course Of Hearing Before Us The Authorised Representative (Ar) Stated That The Assessee Was Not Interested In Pursuing Grounds No1.A, 1.C, 1.D & 1.E. Hence,Same Stand Dismissed, As Not Pressed.

capital gains tax.He referred to the case of Syndicate Bank Ltd.(155ITR681); Evans Frazer & Co.Ltd.(137ITR 493) and referred to provisions of section 50B

DCIT 1(1)(2), MUMBAI vs. FORBES & COMPANY LTD, MUMBAI

In the result, the appeal is allowed for statistical purpose

Bench: Shir Pavan Kumar Gadale & Shri Gagan Goyal

capital gain under section 50B considering the legal framework as well as the basic principle that capital gain is always

DCIT - 1 (1) (2), MUMBAI vs. FORBES & COMPANY LTD., MUMBAI

In the result, the appeal is allowed for statistical purpose

Bench: Shir Pavan Kumar Gadale & Shri Gagan Goyal

capital gain under section 50B considering the legal framework as well as the basic principle that capital gain is always

GRASIM INDUSTRIES LIMITED,MUMBAI vs. DCIT, CC-1(4), MUMBAI

In the result, appeal of the revenue and the assessee are partly allowed,\nand the additional ground of the assessee is dismissed

section 50B of the Act.\nSection 50B of the Act, as it stood for the relevant assessment year under, is\nreproduced hereunder:\n\n(1) Any profits or gains arising from the slump sale effected in the\nprevious year shall be chargeable to income-tax as capital