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ITAT Delhi Grants Long-Term Capital Gains Tax on Prannoy and Radhika Roy - (20 Jun 2019)

DIRECT TAXATION

Income Tax Appellate Tribunal (ITAT) Delhi has upheld addition of Long Term Capital Gains Tax against the Roys for realising share sale consideration ‘in the guise of loan.’ The Tribunal has observed in an order that in a series of transactions, whereby Assessees (Roys) had sold NDTV shares to their own holding company, at a substantially low price and further those shares were pledged to Viswapradhan Commercial Pvt Ltd to raise a huge interest free loan of over Rs 400 crore.

Tags : ITAT DELHI   PRANNOY  

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