CIT v. B.C. Srinivasa Setty

128 ITR 294Supreme Court of India1981#92 most cited

What is CIT v. B.C. Srinivasa Setty authority for?

When the cost of acquisition of a capital asset cannot be determined, the computation mechanism for capital gains fails, and thus no capital gains can be charged. This establishes a broader principle that a charging section cannot operate in the absence of specific machinery provisions for computation.

628

judgments rely on this decision, according to BharatTax’s citation analysis of 367,181 Indian tax judgments — from 2005 to 2026.

Also referred to as

CIT v. B.C. Srinivasa Setty · 128 ITR 294 · Section 45 · Section 48 · Section 55(2) · cost of acquisition · capital gains computation · machinery provision · unascertainable cost · intangible assets · taxability of goodwill · no tax without machinery

Also reported as

5 Taxmann 1

Sections most often in play

Section 143(3)Section 115JBSection 92BSection 234BSection 45Section 55(2)Section 143(2)Section 144

Issues it is cited on

section 211section 55section 32(1)(ii)section 21section 92bsection 32(1)intangible assetssection 48section 45book profitsfair market valuesection 115j

Judgments citing CIT v. B.C. Srinivasa Setty

Pepsico India Holdings Pvt. Ltd., Gurgaon vs. ACIT, Central Circle-7, New Delhi

In the result, the appeal of the assessee is allowed and the Stay

ITA 749/DEL/2022[2018-19]Status: DisposedITAT Delhi23 Nov 2022AY 2018-19

Bench: Shri Shamim Yahya & Ms. Astha Chandra[Assessment Year: 2018-19]

Section 144BSection 144B(2)Section 92BSection 92CSection 92F

…for use or sale and the intention is to complete the intangible asset for use or sale is shown or how the intangible asset generate probable future benefits, etc. The aforesaid position finds recognition and was accepted in CIT v. B. C. Srinivasa Setty [1981] 128 ITR 294 (SC), a relating transfer to goodwill. Goodwill, it was held, was a capital asset and denotes benefits arising from connection and reputation. A variety of elements go into its making and the composition varies in different trades, different businesses in the same trade, as one element may pre-dominate one business, another element may dominate i…

ACIT Central-2 Indore, Indore vs. Shri .Gaurav Tekriwal, Indore

In the result, this appeal of Revenue is dismissed

ITA 62/IND/2021[2015-16]Status: DisposedITAT Indore21 Nov 2022AY 2015-16

Bench: Ms. Madhumita Roy & Shri B.M. Biyani(Conducted Through Virtual Court) Assessment Year: 2015-16 Acit, Central -2 Shri Gaurav Tekriwal Indore बनाम/ 204, Princess Valley, South Tukoganj, Indore Vs. (Appellant / Revenue) (Respondent / Revenue) Pan: Acppt 1628 Q Assessee By Shri Anil Kamal Garg, Arpit Gaur, Ars Revenue By Shri P.K. Mitra, Cit-Dr Date Of Hearing 21.09.2022 Date Of Pronouncement 21.11.2022

Section 143(2)Section 143(3)Section 2Section 54FSection 55(2)(a)Section 57

…ty, the same would escape the tax that since, the tenancy was not legalized and therefore, the provisions of s. 55(2)(a) would not apply and consequently, applying the ratio of Hon’ble Apex Court in the case of CIT vs. B.C. Srinivasa Setty, reported in (1981) 128 ITR 294 SC wherein it has been held that transfer of any capital asset which has no cost of acquisition cannot be brought to tax under s. 45. In my considered view, once the tenancy or sub-tenancy is established, any amount received towards the relinquishment thereof cannot get escaped to tax in view of the provisions of s. 55(2)(a) of the Act introduced…

The Ruhru Co-Operative Agri Service Society Limited, Kangra vs. ITO Ward, Dharamshala

In the result, the appeal of the assessee is allowed

ITA 580/CHANDI/2022[2018-19]Status: DisposedITAT Chandigarh21 Nov 2022AY 2018-19
For Appellant: ShriVishal Mohan, AdvocateFor Respondent: Smt. Amanpreet Kaur, Sr.DR
Section 143(1)(a)Section 80ASection 80P

…gh Court, the amendment carried out in Section 143(1)(a) by the Finance Act 2021 was neither argued nor referred to for consideration of the Hon'ble Court. 14.5 It is further seen that the decision of the Apex Court in the case of CIT Vs B.C. Srinivasa Shetty 128 ITR 294 fully supports the view taken. The Court therein at page 299 has held as under : " …………..The character of the computation provisions in each case bears a relationship to the nature of the charge. Thus, the chagrining section and the computation provisions together constitute an integrated code . When there is a case to which the computation provi…

Commissioner of Income Tax TDS vs. M/S Mewar Hospital Pvt Ltd

ITA/6/2021HC Rajasthan01 Nov 2022

Bench: SANDEEP MEHTA,KULDEEP MATHUR

Pepsico India Holdings Pvt. Ltd., Gurgaon vs. ACIT, CC-07, New Delhi

In the result, the appeal of the assessee is allowed

ITA 304/DEL/2022[2017-18]Status: DisposedITAT Delhi31 Oct 2022AY 2017-18

Bench: Shri G. S. Pannua N D Shri Challa Nagendra Prasad

For Appellant: Ms. Priya TandonFor Respondent: [CIT] - D.R
Section 143(3)Section 144C(13)Section 144C(5)Section 92BSection 92CSection 92F

…tion is to complete the intangible asset for use or 28 I.T.A. No. 304/Del/2022 sale is shown or how the intangible asset generate probable future benefits, etc. The aforesaid position finds recognition and was accepted in CIT v. B. C. Srinivasa Setty [1981] 128 ITR 294 (SC), a relating transfer to goodwill. Goodwill, it was held, was a capital asset and denotes benefits arising from connection and reputation. A variety of elements go into its making and the composition varies in different trades, different businesses in the same trade, as one element may pre-dominate one business, another element may dominate i…

The Congregation of the Sisters of the Cross of Chavanod, Trichy vs. CIT, CPC, TDS, Ghaziabad

In the result, the fees levied by TDS officer u/s 234E for Financial

ITA 807/CHNY/2022[2015-2016]Status: DisposedITAT Chennai26 Oct 2022AY 2015-2016

Bench: Hon’Ble Shri V. Durga Rao & Hon’Ble Shri Manoj Kumar Aggarwal, Am आयकरअपील सं./ Ita No.807/Chny/2022 (िनधा1रण वष1 / Assessment Year: 2015-16) The Congregation Of The Sisters Of The The Acit, Cpc बनाम/ Cross Of Chavanod, Tds, Ghaziabad Holy Cross Provincilate, Puthur, Vs. Tiruchirappalli-620 017. थायीलेखासं./जीआइआरसं./Pan: Aaatt-4867-G / (अपीलाथ)/Appellant) : (*+थ) / Respondent) अपीलाथ)कीओरसे/ Appellant By : None *+थ)कीओरसे/Respondent By : Shri Ar.V Sreenivasan (Addl. Cit)-Ld. Sr. Dr

For Appellant: NoneFor Respondent: Shri AR.V Sreenivasan (Addl. CIT)-Ld. Sr. DR
Section 200(3)Section 200ASection 206C(3)Section 234ESection 272A(2)(k)

…with fee and interest is paid. The additional condition being that the statement is filed latest within one year from the due date. 21. Counsel for the petitioner however, referred to the decision of Supreme Court in case of CIT v. B.C. Srinivasa Setty [1981] 128 ITR 294/5 Taxman 1 (SC), to contend that when a machinery provision is not provided, the levy itself would fail. The decision of Supreme Court in case of B C Srinivasa Setty (supra) was rendered in entirely different background. Issue involved was of charging capital gain on transfer of a capital asset. In case on hand, the asset was in the nature of goo…

DCIT Cir 1(4), Mumbai vs. M/S. Grasim Industires Ltd, Mumbai

ITA 1834/MUM/2021[2001-02]Status: DisposedITAT Mumbai29 Sept 2022AY 2001-02

Bench: Shri Kuldip Singh & Shri Gagan Goyalassessment Year: 2001-02

For Appellant: Shri Ronak Doshi, A.R. &For Respondent: Shri Rakesh Garg, D.R
Section 43(1)

…. Grasim Industries Ltd. the variations made in the figures in the Sales-tax appellate stages. 9. On the facts and in the circumstances of the case and in law, as held by the Hon'ble Supreme Court in the case of CIT, Bangalore v. B.C. Srinivas Shetty, 11981] 128 ITR 294 (SC), when there is a case to which the computation provision cannot apply, such a case is not intended to fall into the charging section; the approach of the assesses to calculate the so called notional subsidy in a roundabout way does not fit into the scheme of income-tax assessments. 10. The appellant craves leave to add, delete, alter, modify…

Grasim Industries Ltd, Mumbai vs. DCIT Cent. Cir1(4), Mumbai

ITA 1736/MUM/2021[2001-02]Status: DisposedITAT Mumbai29 Sept 2022AY 2001-02

Bench: Shri Kuldip Singh & Shri Gagan Goyalassessment Year: 2001-02

For Appellant: Shri Ronak Doshi, A.R. &For Respondent: Shri Rakesh Garg, D.R
Section 43(1)

…. Grasim Industries Ltd. the variations made in the figures in the Sales-tax appellate stages. 9. On the facts and in the circumstances of the case and in law, as held by the Hon'ble Supreme Court in the case of CIT, Bangalore v. B.C. Srinivas Shetty, 11981] 128 ITR 294 (SC), when there is a case to which the computation provision cannot apply, such a case is not intended to fall into the charging section; the approach of the assesses to calculate the so called notional subsidy in a roundabout way does not fit into the scheme of income-tax assessments. 10. The appellant craves leave to add, delete, alter, modify…

Deputy Commissioner of Incometax, Circle -2(1), Raipur vs. Shri Vaibhav Jain, Raipur

In the result, appeal of the revenue in ITA No

ITA 222/RPR/2019[2009-10]Status: DisposedITAT Raipur22 Sept 2022AY 2009-10

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No. 221/Rpr/2019 "नधा"रण वष" / Assessment Year : 2009-10 The Deputy Commissioner Of Income Tax-2(1), Raipur (C.G.) .......अपीलाथ" / Appellant बनाम / V/S. Shri Varun Jain 22-B, South Avenue, Choubey Colony, Raipur (C.G.). Pan : Aggpj1319R ……""यथ" / Respondent आयकर अपील सं. / Ita No. 222/Rpr/2019 "नधा"रण वष" / Assessment Year : 2009-10 The Deputy Commissioner Of Income Tax-2(1), Raipur (C.G.) .......अपीलाथ" / Appellant बनाम / V/S. Shri Vaibhav Jain 22-B, South Avenue, Choubey Colony, Raipur (C.G.) Pan : Akbps4207Q ……""यथ" / Respondent Assessee By :Shri Amit M Jain, Ar Revenue By :Shri Sanjay Sharma, Sr. Dr

For Appellant: Shri Amit M Jain, ARFor Respondent: Shri Sanjay Sharma, Sr. DR
Section 147Section 45(3)

…him to a firm, as his contribution towards capital, then, though there would be a transfer of capital gains taxation altogether. The Hon’ble Apex Court while so adjudicating had relied on its earlier judgment in the case of CIT Vs. B.C. Srinivasa Setty (1981) 128 ITR 294 (SC). However, as observed by us hereinabove, sub-section (3) of Section 45 of the Act was made available on the statute vide the Finance Act 1987 w.e.f. 01.04.1988 to undo the effect of the aforesaid judgment of the Hon’ble Apex Court in the case of Sunil Siddharthbhai (supra.). 17. As in the case of the assessee before us the provisions of sec…

Deputy Commissioner of Income Tax, Circle- 2(1), Raipur vs. Shri Varun Jain, Raipur

In the result, appeal of the revenue in ITA No

ITA 221/RPR/2019[2009-10]Status: DisposedITAT Raipur22 Sept 2022AY 2009-10

Bench: Shri Ravish Sood & Shri Arun Khodpiaआयकर अपील सं. / Ita No. 221/Rpr/2019 "नधा"रण वष" / Assessment Year : 2009-10 The Deputy Commissioner Of Income Tax-2(1), Raipur (C.G.) .......अपीलाथ" / Appellant बनाम / V/S. Shri Varun Jain 22-B, South Avenue, Choubey Colony, Raipur (C.G.). Pan : Aggpj1319R ……""यथ" / Respondent आयकर अपील सं. / Ita No. 222/Rpr/2019 "नधा"रण वष" / Assessment Year : 2009-10 The Deputy Commissioner Of Income Tax-2(1), Raipur (C.G.) .......अपीलाथ" / Appellant बनाम / V/S. Shri Vaibhav Jain 22-B, South Avenue, Choubey Colony, Raipur (C.G.) Pan : Akbps4207Q ……""यथ" / Respondent Assessee By :Shri Amit M Jain, Ar Revenue By :Shri Sanjay Sharma, Sr. Dr

For Appellant: Shri Amit M Jain, ARFor Respondent: Shri Sanjay Sharma, Sr. DR
Section 147Section 45(3)

…him to a firm, as his contribution towards capital, then, though there would be a transfer of capital gains taxation altogether. The Hon’ble Apex Court while so adjudicating had relied on its earlier judgment in the case of CIT Vs. B.C. Srinivasa Setty (1981) 128 ITR 294 (SC). However, as observed by us hereinabove, sub-section (3) of Section 45 of the Act was made available on the statute vide the Finance Act 1987 w.e.f. 01.04.1988 to undo the effect of the aforesaid judgment of the Hon’ble Apex Court in the case of Sunil Siddharthbhai (supra.). 17. As in the case of the assessee before us the provisions of sec…

Late Jayesh Thar, Mumbai vs. Income Tax Officer TDS, Ward Kalyan, Kalyan

In the result, the appeal stands allowed to the extent indicated in the order

ITA 1479/MUM/2022[2013-2014]Status: DisposedITAT Mumbai19 Sept 2022AY 2013-2014
Section 154Section 200(3)Section 200ASection 220(2)Section 234E

…with fee and interest is paid. The additional condition being that the statement is filed latest within one year from the due date. 21. Counsel for the petitioner however, referred to the decision of Supreme Court in case of CIT v. B.C. Srinivasa Setty [1981] 128 ITR 294/5 Taxman 1 (SC), to contend that when a machinery provision is not provided, the levy itself would fail. The decision of Supreme Court in case of B C Srinivasa Setty (supra) was rendered in entirely different background. Issue involved was of charging capital gain on transfer of a capital asset. In case on hand, the asset was in the nature of goo…

Late Jayesh Thar, Mumbai vs. Income Tax Officer TDS, Ward Kalyan, Kalyan

In the result, the appeal stands allowed to the extent indicated in the order

ITA 1478/MUM/2022[2013-2014]Status: DisposedITAT Mumbai19 Sept 2022AY 2013-2014
Section 154Section 200(3)Section 200ASection 220(2)Section 234E

…with fee and interest is paid. The additional condition being that the statement is filed latest within one year from the due date. 21. Counsel for the petitioner however, referred to the decision of Supreme Court in case of CIT v. B.C. Srinivasa Setty [1981] 128 ITR 294/5 Taxman 1 (SC), to contend that when a machinery provision is not provided, the levy itself would fail. The decision of Supreme Court in case of B C Srinivasa Setty (supra) was rendered in entirely different background. Issue involved was of charging capital gain on transfer of a capital asset. In case on hand, the asset was in the nature of goo…

Late Shri Jayesh Thar, Mumbai vs. Income Tax Officer TDS, Ward Kalyan, Kalyan

In the result, the appeal stands allowed to the extent indicated in the order

ITA 1477/MUM/2022[2013-2014]Status: DisposedITAT Mumbai19 Sept 2022AY 2013-2014
Section 154Section 200(3)Section 200ASection 220(2)Section 234E

…with fee and interest is paid. The additional condition being that the statement is filed latest within one year from the due date. 21. Counsel for the petitioner however, referred to the decision of Supreme Court in case of CIT v. B.C. Srinivasa Setty [1981] 128 ITR 294/5 Taxman 1 (SC), to contend that when a machinery provision is not provided, the levy itself would fail. The decision of Supreme Court in case of B C Srinivasa Setty (supra) was rendered in entirely different background. Issue involved was of charging capital gain on transfer of a capital asset. In case on hand, the asset was in the nature of goo…

Late Shri Jayeesh Thar, Mumbai vs. Income Tax Officer, TDS Ward Kalyan, Kalyan

In the result, the appeal stands allowed to the extent indicated in the order

ITA 1476/MUM/2022[2013-2014]Status: DisposedITAT Mumbai19 Sept 2022AY 2013-2014
Section 154Section 200(3)Section 200ASection 220(2)Section 234E

…with fee and interest is paid. The additional condition being that the statement is filed latest within one year from the due date. 21. Counsel for the petitioner however, referred to the decision of Supreme Court in case of CIT v. B.C. Srinivasa Setty [1981] 128 ITR 294/5 Taxman 1 (SC), to contend that when a machinery provision is not provided, the levy itself would fail. The decision of Supreme Court in case of B C Srinivasa Setty (supra) was rendered in entirely different background. Issue involved was of charging capital gain on transfer of a capital asset. In case on hand, the asset was in the nature of goo…

Yogesh Das, Jaipur vs. ITO, Jaipur

ITA 983/JPR/2016[2013-14]Status: DisposedITAT Jaipur31 Aug 2022AY 2013-14
For Appellant: Shri S.L. Poddar, AdvocateFor Respondent: Shri Avdhesh Kumar, CIT-DR
Section 139Section 143Section 147Section 148Section 50C

…se, the ld. CIT(A) has erred in confirming the action of the AO in computing the capital gain income for the property which was acquired at no cost and no capital gain tax is chargeable in the light of the Supreme Court decision in the case of Shriniwas Sethi 128 ITR 294. 3. Under the facts and circumstances of the case, the ld. CIT(A) has erred in confirming the action of the AO in referring the valuation of property to DVO when there was direct example of auction by the JDA in same area. 4. Under the facts and circumstances of the case, the ld. CIT(A) has erred in confirming the action of the AO /DVO in not con…

The Lanjani Co-Operative Agri Service Society Limited, Kangra vs. DCIT, CPC/ITO-Ward-, Dharamshala

In the result, the appeals of the assessees are allowed

ITA 332/CHANDI/2021[2018-19]Status: DisposedITAT Chandigarh30 Aug 2022AY 2018-19
For Appellant: Shri Vishal Mohan,Advocate
Section 143(1)Section 80P

…ts have the petitioners approached this Court.” 11.7 Accordingly, it was his submission that the said decision proceeds on facts peculiar to its own. Reliance was placed upon decision of the Hon'ble Supreme Court in the case of CIT Vs B.C. Srinivasa Shetty 128 ITR 294 (S.C) for allowing relief to the assessee. 12. The ld. Sr.DR relied upon the orders. Specific attention was invited to para 8.1 of the said decision. 12.1 Apart from relying upon para 8.1 she further placed reliance upon the decision of the Apex Court in Civil Appeal No.332.7 of 2017 dated 30.07.2018 in the case of Commissioner of Customs (…

Kimberly Clark Lever Pvt. Ltd., Pune vs. Deputy Commissioner of Income-Tax

In the result, appeal of assessee is allowed for statistical purposes and the appeal of Revenue is dismissed in the above terms

ITA 492/PUN/2016[2011-12]Status: DisposedITAT Pune30 Aug 2022AY 2011-12
For Appellant: Shri Percy PardiwalaFor Respondent: Shri J. P. Chadraker
Section 143(3)Section 92BSection 92C

…between the excess A&M expenses incurred by the assessee and the A&M expenses incurred by comparable entities chosen by the TPO. Finally, the Hon’ble High Court referring to the judgement of the Hon’ble Apex Court in the case of CIT vs. B. C. Srinivasa Setty, 128 ITR 294 and PNB Finance Ltd. vs. CIT, 307 ITR 75 held that in the absence of any machinery provisions to compute the arm’s length price of transactions the provisions of Chapter X cannot be invoked for the purpose of making the TP adjustments. As regards, the direction of the Hon’ble DRP to make alternative addition of A&M expenses by disallowing u/s 37(…

Deputy Commissioner of Income-Tax, Pune vs. M/S. Kimberly Clark Lever Pvt. Ltd., Pune

In the result, appeal of assessee is allowed for statistical purposes and the appeal of Revenue is dismissed in the above terms

ITA 351/PUN/2016[2011-12]Status: DisposedITAT Pune30 Aug 2022AY 2011-12
For Appellant: Shri Percy PardiwalaFor Respondent: Shri J. P. Chadraker
Section 143(3)Section 92BSection 92C

…between the excess A&M expenses incurred by the assessee and the A&M expenses incurred by comparable entities chosen by the TPO. Finally, the Hon’ble High Court referring to the judgement of the Hon’ble Apex Court in the case of CIT vs. B. C. Srinivasa Setty, 128 ITR 294 and PNB Finance Ltd. vs. CIT, 307 ITR 75 held that in the absence of any machinery provisions to compute the arm’s length price of transactions the provisions of Chapter X cannot be invoked for the purpose of making the TP adjustments. As regards, the direction of the Hon’ble DRP to make alternative addition of A&M expenses by disallowing u/s 37(…

Hp India Sales Private Limited, Bangalore vs. Joint Commissioner of Income Tax Ltu, Bangalore

In the result, the appeal filed by the assessee is partly allowed

ITA 524/BANG/2017[2012-13]Status: DisposedITAT Bangalore18 Aug 2022AY 2012-13

Bench: Shri George George K, Jm & Shri Laxmi Prasad Sahu, Am It(Tp)A No.524/Bang/2017 : Asst.Year 2012-2013 M/S.Hp India Sales Private The Joint Commissioner Of Limited (Formerly Known As Income-Tax, Ltu V. Bangalore. Hewlett-Packard India Sales Private Limited), 24 Salarpuria Area, Hosur Main Road, Adugodi Bangalore – 560 030. Pan : Aaacc9862F. (Appellant) (Respondent) Appellant By : Sri.Ajay Vohra, Senior Counsel / Sri. Neeraj Jain, Sri.Lalit Attal & Sri.Karon Dhanuka, Advoicates Respondent By : Sri.Harishchandra Naik, Cit-Dr Date Of Pronouncement : 18.08.2022 Date Of Hearing : 27.07.2022 O R D E R Per George George K, Jm : This Appeal At The Instance Of The Assessee Is Directed Against Final Assessment Order Dated 03.01.2017 Passed U/S 143(3) R.W.S. 144C(13) Of The I.T.Act. The Relevant Assessment Year Is 2012-2013. 2. The Brief Facts Of The Case Are As Follows: The Assessee Is A Company Engaged In Import Of Computer Peripherals From Its Associated Enterprises (Aes) For Sale In India & Also Rendered Certain Support Services. The Return Of Income For Assessment Year 2012-2013 Was Filed On 29.02.2012, Admitting Total Income Of Rs.544,61,99,276. The Return Was Revised On 25.03.2014

For Appellant: Sri.Ajay Vohra, Senior Counsel / Sri. Neeraj JainFor Respondent: Sri.Harishchandra Naik, CIT-DR
Section 143(2)Section 143(3)Section 144CSection 92BSection 92C

…IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCHES “A”, BANGALORE Before Shri George George K, JM & Shri Laxmi Prasad Sahu, AM IT(TP)A No.524/Bang/2017 : Asst.Year 2012-2013 M/s.HP India Sales Private The Joint Commissioner of Limited (Formerly known as Income-tax, LTU v. Bangalore. Hewlett-Packard India Sales Private Limited), 24 Salarpuria Area, Hosur Main Road, Adugodi Bangalore – 560 030. PAN : AAACC9862F. (Appellant) (Respondent) Appellant by : Sri.Ajay Vohra, Senior Counsel / Sri. Neeraj Jain, Sri.Lalit Attal & Sri.Karon Dhanuka, Advoicates Respondent by : Sri.Harishchandra Naik, CIT-DR Date of Pronoun…

Dy Cti, CC-16(1), Mumbai vs. Shipa Shetty, Mumbai

In the result, appeal filed by the Revenue is dismissed

ITA 478/MUM/2021[2012-13]Status: DisposedITAT Mumbai11 Aug 2022AY 2012-13
Section 92A(2)(j)Section 92B

…THE INCOME TAX APPELLATE TRIBUNAL “J” Bench, Mumbai Shri B.R. Baskaran (AM) & Shri ABY T Varkey (JM) I.T.A. No. 478/Mum/2021 (A.Y. 2012-13) Vs. Shilpa Shetty DCIT, Circle-16(1) Room No. 439 7/D, Aditya Apartment 4th Floor SVP Nagar Aayakar Bhavan Andheri West M.K. Road Mumbai-400 054. Mumbai-400 020. PAN : ACPPS6622P (Appellant) (Respondent) Assessee by Shri Samual Pitta Department by Ms. Ritu Kamalkishore Date of Hearing 10.08.2022 Date of Pronouncement 11.08.2022 O R D E R Per B.R.Baskaran (AM) :- The Revenue has filed this appeal challenging the order dated 14.9.2020 passed by learned CIT(A)-48, Mumbai…