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INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH)
Shri SaktiJit Dey, VP
Nikesh Arora – Appellant
Versus
Income Tax Department – Respondent
| Table of Content |
|---|
| 1. complaint regarding tax evasion allegations. (Para 1 , 2) |
| 2. court's analysis on complaints not requiring action. (Para 3 , 4 , 10) |
| 3. tax implications of capital gains and disallowance. (Para 5 , 6 , 7 , 8 , 9) |
| 4. assessee's argument on acquisition date implications. (Para 11 , 12 , 13 , 14) |
| 5. legal ownership and asset transfer tax considerations. (Para 18 , 19 , 20) |
| 6. court's finding on rights acquisition vs. ownership. (Para 23 , 27 , 28) |
| 7. legal ownership and situs of asset conclusion. (Para 30 , 32 , 34) |
| 8. taxability of foreign interests in india. (Para 37 , 39 , 41) |
| 9. final order on assessment appeal. (Para 43 , 45) |
ORDER
PER SAKTIJIT DEY, VICE-PRESIDENT
Captioned appeal has been filed by the assessee challenging the final assessment order dated 14.03.2022 passed under section 143(3) read with section 144C(13) of the Income-tax Act, 1961 (in short ‘the Act’), pertaining to assessment year 2017-18, in pursuance to directions of learned Dispute Resolution Panel (DRP).
2. Before we proceed to deal with the substantive issues arising in the appeal, it is necessary to observe, a complaint dated 07.04.2023 addressed to the President, Income Tax Appellate Tribunal was
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