2017 (8) TMI 1404

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..... ute which arose amongst the family members of Dr. Bhai Mohan Singh, the Assessee was restrained from converting the shares held in DGHPL to other permissible forms of investment before the time limit prescribed in clause (iia) of proviso to Section 13(1)(d) of the Act. The conversion could ultimately take place only in 2012 after the restraint was lifted. In view of the above concurrent factual fi .....

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..... ter is taken up today as 14th August, 2017 was declared a holiday on account of Janmashtami. C.M. No. 28691/2017 (exemption) 2. Allowed, subject to all just exceptions. ITA No. 614/2017 3. This is an appeal under Section 260A of the Income Tax Act, 1961 ( Act ) by the Revenue against the order dated 11th January, 2017 passed by the Income Tax Appellate Tribunal ( ITAT ) in ITA .....

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..... or determination on this aspect. 5. The second issue concerns the payment of ₹ 3.33 crores as charges for conversion of the property held by DGHPL from leasehold to freehold. This issue is linked with the earlier issue regarding the shareholding in DGHPL. The conversion of the property from lease hold to free hold, of the entity whose shares were held by the Assessee could not in the c .....

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