OWNER HAS ABSOLUTE RIGHT OF OWNERSHIP OF ALIENATION, DISCARDING, DESTROYING THE PROPERTY AT HIS WILL скачать в хорошем качестве

OWNER HAS ABSOLUTE RIGHT OF OWNERSHIP OF ALIENATION, DISCARDING, DESTROYING THE PROPERTY AT HIS WILL

link of full case : https://drive.google.com/file/d/1kSG0... Case Summary: [2021] 85 ITR (Trib) 210 (ITAT[Del]) [BEFORE THE INCOME-TAX APPELLATE TRIBUNAL — DELHI "E" BENCH(VIDEO CONFERENCING)] MANJULA FINANCE LTD. v. INCOME-TAX OFFICER December 18, 2020. Section(s): Income-tax Act, 1961, ss. 2(24)(xiia), 2(42A), 28(via), 45(2), 49(9) Assessment Year: 2014-15 Favouring: Assessee Tag Line: Owner has absolute right of ownership of alienation, discarding, destroying the property at his will -Company — shares held as stock-in-trade by assessee-company in group companies — gift of shares to other group companies -Amendment to articles empowering gift -Gift proposed by resolution of board of directors and affirmed by shareholders at extraordinary general meeting -Value of shares at cost adjusted against reserves and surplus of assessee -No benefit received by assessee or promise of future consideration in lieu of gift Cases referred to : B. A. Mohota Textiles Traders Pvt. Ltd. v. Dy. CIT [2017] 397 ITR 616 (Bom) (para 12) Bacha F. Guzdar (Mrs.) v. CIT [1955] 27 ITR 1 (SC) Bacha F. Guzdar (Mrs.) v. CIT [1955] 25 Comp Cas 1 (SC) (para 12) CIT v. Sea Rock Investment Ltd. [2009] 317 ITR 253 (Karn) (paras 13, 21) Dinshaw Maneckjee Petit, In re [1927] AIR 1927 Bom 371 (para 12) Gagan Infraenergy Ltd. v. Dy. CIT [2018] 65 ITR (Trib) 514 (Delhi) (para 21) Glebe Trading P. Ltd. v. ITO [2020] 116 taxmann.com 866 (Delhi) (paras 7, 20) Orient Green Power Pte. Ltd., In re [2012] 346 ITR 557 (AAR) (paras 6, 22) Salomon v. A. Salomon and Co. Ltd. [1897] AC 22 (HL) (para 12) Sir Kikabhai Premchand v. CIT [1953] 24 ITR 506 (SC) (para 24) #MANJULAFINANCELTD #MANJULAFINANCELTDVSINCOMETAXOFFICER #85ITR #Section2(24)(xiia) #Section2(42A) #Section28 #Section45(2) #Section49(9) #Ownerhasabsoluterightofownershipofalienationdiscardingdestroyingthepropertyathiswill #TRANSFEROFPROPERTYACT1882 #BAMohotaTextilesTradersPvtLtdvDyCIT #BachaFGuzdarMrsvCIT #BachaFGuzdarMrsvCIT #CITvSeaRockInvestmentLtd #DinshawManeckjeePetitInre #GaganInfraenergyLtdvDyCIT #GlebeTradingPLtdvITO #OrientGreenPowerPteLtd #SalomonvASalomonandCoLtd #SirKikabhaiPremchandvCIT #IncomeTaxcasesUpdates #LatestIncomeTaxcases #IncomeTax #IncomeTax1961 #IncomeTaxNotices #IncomeTaxCases #incometaxcasesanalysis #IncomeTaxLaw #CaseLaw #CaseStudy #advocateamitkumargupta #9811291390 #amitkumargupta #SPOONER INDUSTRIES P. LTD. v. INCOME-TAX OFFICER #SPOONERINDUSTRIE PLTD.v.INCOMETAXOFFICER