Soni Sonu Mirchandani, New Delhi Vs. ACIT Central Circle-5, New Delhi

Last updated: 29 September 2020
Quick Summary
This Income Tax Appellate Tribunal case involves Smt. Soni Sonu Mirchandani appealing against the CIT(A)'s decision to tax an amount received from a family settlement as long-term capital gains on the transfer of shares. The appellant argued that the sum was 'owelty' for equalising family interests, not consideration for share transfer. The Tribunal reviewed whether the family settlement agreement constituted a sale of shares and considered the taxability of the amount, even if erroneously offered for tax in the original return. The appeal also touched upon the indexed cost of acquisition for shares and an addition related to a compounding fee paid by another company.

Court :
ITAT Delhi

Brief :
This appeal by Assessee has been directed against the Order of the Ld. CIT(A)-24, New Delhi, Dated 11.02.2020 for the A.Y. 2009-2010

Citation :
ITA.No.1286/Del./2020

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1 Year PLAN
1999
(Excl. of GST ₹359)

BEST VALUE
2 Years PLAN
3499
(Excl. of GST ₹629)

3 Months PLAN
999
(Excl. of GST ₹179)

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