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Indexation From Previous Owner Upheld in Family Settlement & Demerger: ITAT Delhi
Case Law Details
- Case Name
- ACIT Vs KCT Papers Limited (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2008-09
- Courts
- All ITAT, ITAT Delhi
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ACIT Vs KCT Papers Limited (ITAT Delhi)
Family Settlement + Tax-Neutral Demerger: ITAT Allows Indexation From Previous Owner, Revenue Appeal Dismissed
In this appeal, Revenue disputed CIT(A)’s order which had accepted Assessee’s computation of long-term capital loss on buyback of shares of Ballarpur Industries Ltd. Tribunal noted that Assessee had received the shares pursuant to Court-approved amalgamation & demerger schemes undertaken to implement the Thapar Family Settlement.
Tribunal examined the record where the corporate restructuring, share movements, diagrams &a...
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