ARUN KUMAR SARUP,MUMBAI vs. DY. COMMISSIONER OF INCOME TAX CIRCLE 1(1)(1), MUMBAI, MUMBAI

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ITA 4709/MUM/2025Status: DisposedITAT Mumbai23 December 2025AY 2015-2016Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI PRABHASH SHANKAR (Accountant Member)1 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal condoned the delay in filing the appeal, citing the principle of substantial justice over technicalities. Regarding the addition, the Tribunal noted that while the purchase of shares was not doubted, the date of allotment/purchase was not proven, impacting the classification of capital gains. The matter was restored to the AO for re-computation.

What were the facts?

The assessee's appeal was delayed by 91 days due to a serious medical condition. The CIT(A) had confirmed an addition of Rs. 87,48,200/- on account of Long Term Capital Gain on sale of shares, which the assessee claimed was wrongly made.

What were the issues?

Whether the delay in filing the appeal should be condoned, and whether the addition made on account of Long Term Capital Gain was justified without proper proof of the date of share allotment.

Which sections of the Income-tax Act were involved?

Section 69,Section 250,Section 271(1)(c)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “A” BENCH MUMBAI

Before: HON’BLE SHRI SANDEEP GOSAIN& SHRI PRABHASH SHANKAR

For Appellant: Shri Satyaprakash Singh
For Respondent: Shri Surendra Mohan
Hearing: 11.12.2025Pronounced: 23.12.2025

आदेश की �ितिलिप अ�ेिषत/Copy of the Order forwarded to : अपीलाथ� / The Appellant 1. ��थ� / The Respondent. 2. संबंिधत आयकर आयु� / The CIT(A) 3. आयकर आयु�(अपील) / Concerned CIT 4. िवभागीय �ितिनिध, आयकर अपीलीय अिधकरण,मु�बई/ DR, ITAT, Mumbai 5. गाड� फाईल / Guard file. 6.

आदेशानुसार/BY ORDER, स�ािपत �ित //True Copy//

1.

उप/सहायक पंजीकार ( Asst. Registrar) आयकर अपीलीय अिधकरण, मु�बई मु�बई / ITAT, Mumbai मु�बई मु�बई

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