https://www.taxtmi.com/caselaws?id=407806 The Tribunal upheld the assessment of capital gain on the sale of shares in the hands of ITI Limited (old), now HFCL Infotel Limited (new), dismissing Revenue's claims of tax avoidance. It allowed the deduction of the provision for premium on redemption of debentures, following precedent. The Tribunal ruled that the provision for premium on redemption of debentures should not be added to book profit under section 115JB. It directed the deletion of interest disallowance under Rule 8D and reconsideration of other expenses for AY 2009-10. The Tribunal's decision was issued on 17th May 2021. en-us Mon, 17 May 2021 00:00:00 +0530 Tue, 06 Jul 2021 12:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407806 The Tribunal upheld the assessment of capital gain on the sale of shares in the hands of ITI Limited (old), now HFCL Infotel Limited (new), dismissing Revenue's claims of tax avoidance. It allowed the deduction of the provision for premium on redemption of debentures, following precedent. The Tribunal ruled that the provision for premium on redemption of debentures should not be added to book profit under section 115JB. It directed the deletion of interest disallowance under Rule 8D and reconsideration of other expenses for AY 2009-10. The Tribunal's decision was issued on 17th May 2021. Case-Laws Income Tax Mon, 17 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407806