PURAV MAHENDRA MEHTA,MUMBAI vs. CIRCLE 24(1), MUMBAI
Income Tax Appellate Tribunal, MUMBAI “C” BENCH : MUMBAI
Before: SHRI VIKRAM SINGH YADAV & SHRI RAJ KUMAR CHAUHANAssessment Year : 2015-16
PER VIKRAM SINGH YADAV, A.M :
This is an appeal filed by the assessee against the order of the Learned
Commissioner of Income Tax (Appeals)-National Faceless Appeal Centre
(NFAC), Delhi [„Ld.CIT(A)‟], dated 08-09-2024, pertaining to Assessment
Year (AY) 2015-16. 2. Briefly stated, facts of the case are that the assessment in this case was completed u/s. 143(3) of the Income Tax Act, 1961 („the Act‟), vide order dt. 21-12-2017, wherein the AO has brought to tax capital gains amounting to Rs. 80,76,511/- in respect of three properties alleged to have 2
been sold by the assessee during the financial year relevant to the impugned assessment year. The assessee carried the matter in appeal before the Ld.CIT(A). The Ld.CIT(A) has confirmed the findings of the AO and against the said order, the assessee is in appeal before us.
During the course of hearing, the Ld. AR submitted that during the financial year relevant to the impugned assessment year, the assessee has entered into an agreement to sell three properties and the respective agreements were also registered before the Sub-