Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2022 (7) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2022 (7) TMI 965 - HC - Income TaxIncome accrued in India - Nature of gain - gains arising to the Assessee on the transfer of Compulsorily Convertible Debentures (‘CCDs’) - capital gain or interest income - as per ITAT gains arising to the Assessee on the transfer of CCDs to M/s Vatika Ltd. is in the nature of capital gains and shall not be taxable in India under Article 11 of DTAA between India and Mauritius - HELD THAT:- Both the CIT(A) and the ITAT have held in favour of the assessee holding that that the present case is covered by the decision of this Court 2014 (8) TMI 9 - DELHI HIGH COURT] in assessee’s own case. The assessment order in the present case was passed on 9th April, 2014 in pursuance of the decision [2012 (4) TMI 154 - AUTHORITY FOR ADVANCE RULINGS] of the Authority of Advance Ruling (‘AAR’). Assessee preferred a writ petition against the said order of the AAR, which was disposed of by this Court in favour of the assessee [2014 (8) TMI 9 - DELHI HIGH COURT] Though the said judgment has been challenged before the Supreme Court by way of a Civil Appeal [2018 (1) TMI 1688 - SUPREME COURT] yet there is no stay of the said judgment. Accordingly, the present appeal is dismissed. However, it is clarified that the order passed in the present appeal shall abide by the final decision of the Supreme Court.
|