MUKESH VAIKUNTHLAL MEHTA ,MUMBAI vs. INCOME TAX OFFICER WARD 34(2)(1), MUMBAI

ITA 4669/MUM/2025Status: DisposedITAT Mumbai01 January 2026AY 2011-12Bench: SHRI VIKRAM SINGH YADAV, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)1 pages
AI SummaryPartly Allowed

What did the Tribunal hold?

The Tribunal found that the value determined by the DVO (Rs. 5,02,51,500/-) was less than the actual consideration received (Rs. 2.5 Crores). Therefore, Section 50C was not attracted. The addition made by the Assessing Officer and reduced by the CIT(A) was deleted.

What were the facts?

The assessee appealed an order of the CIT(A) which dismissed their appeal against the assessment order. The assessment order confirmed an addition of Rs. 84,27,058/- under Long Term Capital Gain, based on Section 50C of the Income Tax Act.

What were the issues?

Whether Section 50C of the Income Tax Act, 1961 is applicable when the sale consideration is higher than the stamp duty value, and whether certain expenses should be allowed as deductions in the computation of capital gains.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 147,Section 50C,Section 54

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “D” BENCH, MUMBAI

[ Per Rahul Chaudhary, Judicial Member:

1.

The present appeal preferred by the Assessee is directed against the order, dated 31/05/2025, passed by the National Faceless Appeal Centre (NFAC), Delhi [hereinafter referred to as ‘the CIT(A)’] whereby the Ld. CIT(A) had dismissed the appeal against the Assessment Order, dated 30/12/2016, passed under Section 143(3) read with Section 147 of the Income Tax Act, 1961 for the Assessment Year 2011-2012. 2. The Assessee has raised following grounds of appeal :

“1. On the facts and the circumstances of the case, and in law, the honorable CIT(A) has erred and is no

The order continues below.

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