Mahindra & Mahindra Employees Stock Option Trust, Mumbai vs. Addl CIT RG 12(2), Mumbai
In the result, ground no.4 is allowed for statistical purposes
ITA 2389/MUM/2015[2011-12]Status: DisposedITAT Mumbai21 Oct 2015AY 2011-12
Bench: Shri Joginder Singh, Jm & Shri R.C.Sharma, Am आमकय अऩीर सिं./Ita No.2389/Mum/2015 (नििाारण वषा / Assessment Year :2010-2011) Mahindra & Mahindra Adcit, Range-12(2), Employees‟ Stock Option Mumbai-20 Trust, Gateway Building, Apollo Bunder, Mumbai- 400001 स्थामी रेखा सिं./ जीआइआय सिं./ Pan/Gir No. : Aahfm 9583 B (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. यनधावरयती की ओर से /Assessee By : Shri H.P.Mahajani याजस्र् की ओर से /Revenue By : Shri N.P.Singh सुनर्ाई की तायीख / Date Of Hearing : 04/08/2015 घोषणा की तायीख/Date Of Pronouncement 21/10/2015 आदेश / O R D E R Per R.C.Sharma, Am The Present Appeal Is Filed Against The Order Of Cit(A) -28, Mumbai, Dated 26-3-2015 For A.Y.2011-12. 2. During The Course Of Hearing The Assessee Has Filed Concise Grounds Of Appeal. These Have Been Considered By Us For The Adjudication Of This Appeal & Are Reproduced Hereunder :-
For Appellant: Shri H.P.MahajaniFor Respondent: Shri N.P.Singh
Section 143(3)Section 250
…res of company is also a capital asset. On exercising the option, the assessee gets shares, which is only conversion of one capital asset into other capital assets. Similar view has been followed by Honb‟le Delhi Bench ITAT in the case of Abhiram Seth vs JCIT 150 TTJ 228 (Delhi) and many other cases of similar nature. We further derive support from the judgment of Hon‟ble Delhi High Court in the case of PNB Finance Ltd. vs. CIT 252 ITR 191(Delhi), wherein it was held that as per section 2(14), the term “property” is of wide amplitude. It signifies every possible interest which a person can acquire, hold and enjoy…
