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TMI Blog2021 (9) TMI 1530X X X X Extracts X X X X X X X X Extracts X X X X ..... B. R. R. KUMAR, ACCOUNTANT MEMBER (THROUGH VIDEO CONFERENCING) The present appeal has been filed by the revenue against the order of ld. CIT (A)-43, New Delhi dated 30.10.2017. 2. Following grounds have been raised by the revenue: "(i) Whether on the facts and in the circumstances of the case and in law, the CIT(A) has erred in holding that the gains arising to the assessee on the transfer of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the decision of the Hon'ble High Court dated 30.07.2014 in W.P. (C) 1648/2013 when the decision of the Hon'ble High Court has not been accepted by the Department and the SLP filed by the Department has been admitted by the Hon'ble Supreme Court." 3. Brief facts of the case are that the assessee fi led its return of income on 27.09.2013 declaring total taxable income at Nil. The assessee company ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Article 11 deals with the treatment of income from debt-claims of every kind, whereas, Article 13 deals with gains from the alienation of any property. Article 11 being a specific provision will be applicable in the present case where Vatika has paid a fixed predetermined return to the Applicant Here we may note that in our opinion, Vatika and SHT are one and the same. Hence the amount paid by Va ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and has held that: "In the present case, there ' is sufficient commercial person for the petitioner to have routed its investment in the real estate project through equity and CCDS. The pre-mature exit options as recorded in the SHA and the minimum return assumed by Vatika on its investment are clearly commercial agreements between the parties. These by itself do not change the legal nature ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ddition on the amount in contravention to the existing ruling of the Hon'ble Jurisdictional High Court. The ld. CIT (A) gave relief following the decision of the Hon'ble High Court. 7. We find from the grounds raised by the revenue that the appeal has been filed before the Tribunal solely based on the foundation that the SLP filed by the revenue has been admitted and notice has been issued in thi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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