DCIT 24(3), Mumbai vs. Nadir Nazarali Dhanani, Mumbai
In the result, Revenue’s appeal stands partly allowed for statistical purposes
ITA 100/MUM/2013[2009-10]Status: DisposedITAT Mumbai09 Oct 2015AY 2009-10
Bench: Shri Rajendra & Shri Saktijit Deyआमकय अऩीर सं. / Ita No.100/Mum./2013 (ननधधायण वषा / Assessment Year : 2009–10) Asstt. Commissioner Of Income Tax Circle–24(3), C–11, 7Th Floor …….………. अऩीरधथी / Bandra Kurla Complex Appellant Bandra (E), Mumbai 400 051 V/S Shri Nadir Nazarali Dhanani Plot No.1B, Cama Industrial Estate ..…….………. प्रत्मथी / Cama Estate Main Road Respondent Goregaon (E), Mumbai 400 063 Pan – Aabpd3008Q प्रत्मधऺेऩ सं. / C.O. No. 42/Mum./2014 (आमकय अऩीर सं. 100/Mum./2013 से उद्बूत) (Arising Out Of Ita No. 100/Mum./2013 (ननधधायण वषा / Assessment Year : 2009–10) Shri Nadir Nazarali Dhanani Plot No.1B, Cama Industrial Estate …….………. अऩीरधथी / Cama Estate Main Road Appellant Goregaon (E), Mumbai 400 063 Pan – Aabpd3008Q V/S Dy. Commissioner Of Income Tax ..…….………. प्रत्मथी / Circle–24(3), C–11, 7Th Floor Bandra Kurla Complex Respondent Bandra (E), Mumbai 400 051 यधजस्व की ओय से / Revenue By : Shri Santosh Mankaskar ननधधारयती की ओय से / Assessee By : Shri Yougesh Thar A/W Shri Devang K. Shah
For Appellant: Shri Yougesh Thar a/wFor Respondent: Shri Santosh Mankaskar
Section 50C
…ssessing Officer by invoking provisions of section 50C of the Act by holding that section 50C of the Act cannot be applied in respect of lease hold rights. In this context, he relied upon the decision of the Tribunal, Mumbai Bench, in Atul G. Puranik v/s ITO, 132 ITD 499 (Mum.). The learned Commissioner (Appeals) held that the assessee was not the owner of the land was only having lease hold rights, hence, for transfer of such lease hold rights, provisions of section 50C of the Act cannot be invoked. Being aggrieved of the aforesaid addition, the Department is in appeal before us. 4. The learned Departmental Rep…
