Kashish Park Realtors, Thane vs. ITO WD 1(3), Thane
In the result, appeal of the assessee is allowed whereas appeal of Revenue is dismissed
ITA 4927/MUM/2015[2011-12]Status: DisposedITAT Mumbai13 Apr 2018AY 2011-12
Bench: Shri R.C.Sharma, Am & Shri Sandeep Gosain, Jm M/S. Kashish Park Realtors Vs. Ito, Ward – 1(3),Thane Fgp Complex, Kashish Park Room No.10, ‘B’Wing, 6Th Floor, Ashar I.T. Park Lbs Marg, Near Mulund Check Naka Road No.16Z, Thane (W) - 400604 Wagale Indl. Estate, Thane (W) – 400 604 Pan/Gir No. Aagfk2620J Appellant) Respondent) .. Ito, Ward – 1(3),Thane Vs. M/S. Kashish Park Realtors Room No.10, ‘B’Wing, Fgp Complex, Kashish Park 6Th Floor, Ashar I.T. Park Lbs Marg, Road No.16Z, Near Mulund Check Naka Wagale Indl. Estate, Thane (W) - 400604 Thane (W) – 400 604 Pan/Gir No. Aagfk2620J Appellant) Respondent) .. Assessee By Shri Subodh Ratnaparkhi Revenue By Shri M.C.Omi Ningshen
Section 143(3)Section 80I
…. ITO reported at 127 ITD 286. In the said decision, it has been explained that one acre would mean 4046 sq.mtrs or 43,560 sq.ft. Reliance has also been placed on the decision of Pune Bench of the Tribunal in the case of Baba Promoters and Development vs. ITO 25 Taxmann.com 84 (Pune) wherein also it has been accepted that one acre would mean 4046 mtrs or 43,560 sq.ft. Considered in this light, even if one goes along with the stand of the Assessing Officer and consider only the land covered by the three buildings even then the area in question fulfils the requirement of being not less than one acre. Therefore, on…
