RAMESH SETH LEGAL HEIR OF SAMRATHMAL PHOOLCHAND SETH,MUMBAI vs. NATIONAL FACELESS APPEAL CENTRE , MUMBAI

ITA 3663/MUM/2025Status: DisposedITAT Mumbai07 September 2026AY 2009-1015 pages

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Income Tax Appellate Tribunal, ‘D’ BENCH

For Appellant: Shri Vimal Punmiya
For Respondent: Shri Sandeep Lakra, CIT DR
Hearing: 29/07/2026Pronounced: 07/09/2026

PER AMIT SHUKLA (J.M): The aforesaid appeal has been preferred by Shri Ramesh Seth, legal heir of late Shri Samrathmal Phoolchand Seth, against the impugned order dated 27.03.2025 passed by the learned Commissioner of Income-tax (Appeals), National Faceless Appeal Centre, Delhi, under section 250 of the Income-tax Act, 1961, for the Assessment Year 2009–10. 2 Ramesh Seth Legal Heir of Samrathmal Phoolchand Seth

2.

Though several grounds have been raised, the principal controversy on merits is, whether the amount of ₹55,75,00,000 received pursuant to the Deed of Assignment executed in June 2008, under which the assessee assigned his rights, claims, benefits and entitlements arising out of and

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