TMI Blog2022 (8) TMI 81X X X X Extracts X X X X X X X X Extracts X X X X ..... r analyzing the provisions of section 48 and 112(1) of the Act has concluded that the assessee is entitled to avail the beneficial tax rate u/s 112(1) of the Act. Thus, in view of the aforesaid binding precedent of the Hon ble Jurisdictional High Court, we do not find any infirmity in the decision of learned Commissioner (Appeals). - ITA No.1199/Del/2017 - - - Dated:- 8-7-2022 - Shri Saktijit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ic dispute between the assessee and the Revenue is with regard to the rate of tax on the amount of capital gain. As could be seen from the facts on record, during the year under consideration, the assessee transferred eqity shares of Cairn India Ltd. (CIL) to Twin Star Mauritius Holdings Ltd. in an off-market transaction and earned long term capital gain of Rs.1,21,38,22,15,541/-. The purchaser of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e of Cairn UK Holdings Ltd. Vs. DIT in Writ Petition (Civil) No. 6752/2012, dated 07.10.2013, wherein, it has been held that the assessee is entitled to claim benefit of reduced tax rate under section 112(1) of the Act. 6. Learned Departmental Representative could not controvert the aforesaid submission of learned Senior Counsel. 7. Having considered rival submissions and examined the decisi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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