Mahipatrai Prabhudas Shah Family Trust, Mumbai vs. ACIT (CPC)), Mumbai
In the result, the assessee’s appeals are allowed in the terms indicated above
ITA 4214/MUM/2014[2009-10]Status: DisposedITAT Mumbai23 Dec 2015AY 2009-10
Bench: Shri A.K. Garodia ,Am आयकर अपील सं./I.T.A. No.4214 & 4215/Mum/2014 ("नधा"रण वष" / Assessment Year: 2009-10 &2010-11 )
For Respondent: Shri B.S.Bist
Section 154Section 2Section 2(14)
…avour of assessee by the judgment of Hon’ble Madras High Court rendered in the case of CIT Vs. Kuruvilla Abraham as reported in 88 DTR 291 (Madras). He also placed reliance on following judgments of Hon’ble Bombay High Court:- a) Indian Del. P. Ltd. vs. CIT, 349 ITR 330 (Bom) b) Sanchit Software and Solutions P. Ltd. vs. CIT, 349 ITR 404 (Bom). 2. As against this, the ld. DR of the revenue supported the order of CIT(A). 3. I have considered the rival submissions. I find that in the present case, the assessee offered Short Term Capital Gain to tax totaling of Rs.5,59,611/- including an amount of Rs.2.75 lakhs b…