Pramila Gajanan Bhoir, Thane vs. ITO WD 3(2), Kalyan
In the result, all the appeals of the assessee are allowed
ITA 4245/MUM/2018[2005-06]Status: DisposedITAT Mumbai21 May 2019AY 2005-06
Bench: Sri Mahavir Singh, Jm & Sri Nk Pradhan, Am
For Appellant: Shri M.N. Nandgaonkar, ARFor Respondent: Shri Chaitanya Anjaria, DR
Section 143(3)Section 48Section 55
…ittedly was nil, the same having been received by it not by purchase but by throwing of the same by the coparceners into the common family hotchpotch. In this connection, counsel referred to the decision of this Court in CIT v. Trikamlal Maneklal (HUF) [1987] 168 ITR 733 and submitted that the said judgment squarely applies to the present case." 9. As the ratio laid down by the Hon’ble Bombay High Court applies to us being our jurisdictional High court, we are bound to follow the same as a binding precedent. Admittedly, the land revenue records reveal that (the above land under consideration for computation of l…