SHINE STAR IMPEX P.LTD,MUMBAI vs. DCIT CEN CIR (42), MUMBAI
In the result, the appeals of the assessee’s are allowed in part
ITA 4350/MUM/2015[2009-10]Status: DisposedITAT Mumbai09 Sept 2016AY 2009-10
Bench: Shri R. C. Sharma & Shri Sandeep Gosainआमकय अऩीर सं./I.T.A. Nos.4347 & 4348/Mum/2015 (नििाारण वषा / Assessment Years: 2008-09 & 2009-10) Sunshine Import & Exports Pvt. Ltd. Dy. Cit, Central Circle (42), बिाम/ 28/3, Shree Ramniwas, 1St Bhatwadi, Mumbai Vs. Opera House, Mumbai-400 004 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. Aalcs 1023 K (अऩीराथी /Appellant) (प्रत्मथी / Respondent) : & आमकय अऩीर सं./I.T.A. Nos.4349 & 4350/Mum/2015 (नििाारण वषा / Assessment Years: 2008-09 & 2009-10) Shine Star Impex Pvt. Ltd. Dy. Cit, Central Circle (42), बिाम/ 28/3, Shree Ramniwas, 1St Bhatwadi, Mumbai Vs. Opera House, Mumbai-400 004 स्थामी रेखा सं./ जीआइआय सं./ Pan/Gir No. Aalcs 3998 R (अऩीराथी /Appellant) (प्रत्मथी / Respondent) : अऩीराथी की ओय से / Appellant By : Shri Vimal Punmiya – Written Submission प्रत्मथी की ओय से/Respondent By : Shri Uday Bhaskar Jakke सुनवाई की तायीख / : 19.7.2016 Date Of Hearing घोषणा की तायीख / : .9.2016 Date Of Pronouncement आदेश / O R D E R Per R. C. Sharma, A. M.:
For Appellant: Shri Vimal Punmiya – Written submissionFor Respondent: Shri Uday Bhaskar Jakke
Section 131Section 133ASection 143(3)
…the Tribunal held that after 1951, this payment became obligatory and the said amount has to be allowed as a deduction in arriving at the valuation of the property in the light of the principles laid down by the Supreme Court in CWT vs. Sikand (P. N.) (1977) 107 ITR 922. Consequently, the Tribunal directed the WTO "to recompute the value of the property in different years in the light of the above directions" but indicated that the recomputed value will not be less than that returned by the assessee in those years. Against this, the assessee had preferred an appeal in HC raising the question that lithe Tribunal…
