Transaction already affirmed by Court during demerger cannot be again questioned by income tax department

Indus Towers Ltd (formerly known as Bharti Infratel Ltd) Vs DCIT (ITAT Delhi) ITAT Delhi held that initial transaction of demerger of Passive Infrastructure Assets [PIAs] without any consideration qualifies as gift is already affirmed by the Hon’ble Delhi High Court while approving the demerger scheme. Thus, the income tax department again questioning the transaction not permissible. Facts- The assessee company was formed as a joint venture between Bharti Infratel Limited (‘BIL’), Vodafone India Limited (‘VIL’) and Aditya Birla Telecom Limited (‘ABTL’)...