Principal Commissioner of Income-tax v. Kuntala Mohapatra

160 Taxmann.com 608Supreme Court of India2024#3317 most cited

What is Principal Commissioner of Income-tax v. Kuntala Mohapatra authority for?

Taxpayers qualify for exemption under Section 10(38) for long-term capital gains if shares were purchased via account payee mode, held in a demat account for over 12 months, and sold through a recognised stock exchange after paying STT.

36

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2024 to 2026.

Also referred to as

Kuntala Mohapatra · Section 10(38) · long term capital gains exemption · account payee mode · demat account · recognized stock exchange · STT payment · bogus LTCG · penny stock

Sections most often in play

Section 68Section 10(38)Section 147Section 143(3)Section 148Section 250Section 133(6)Section 69C

Issues it is cited on

price riggingsection 2(40)section 28(i)speculation lossbogus ltcgbogus long term capital gainpenny stockthird party informationsection 10(38)entry operatorpaper companyprincipal officer

Judgments citing Principal Commissioner of Income-tax v. Kuntala Mohapatra

Income Tax Officer, Ward-1, Jalna vs. Omprakash Asaram Mantri, Jalna

In the result, all the appeals filed by the Revenue are dismissed

ITA 140/PUN/2024[2011]Status: DisposedITAT Pune17 Jul 2025

Bench: Shri R. K. Panda & Ms Astha Chandra

For Appellant: Shri Kishor B PhadkeFor Respondent: Shri Amol Khairnar, CIT-DR
Section 10(38)Section 132Section 143(2)Section 143(3)Section 147Section 148Section 151

…ccount Payee Cheques, held in a Demat Account for over 12 months, and assessee was eligible to claim. 24. He submitted that when the Revenue challenged the above decision, the Hon’ble Supreme Court dismissed the SLP filed by the Revenue as reported in (2024) 466 ITR 50 (SC). 25. Referring to the decision of the Hon’ble Supreme Court in the case of CIT vs. Kelvinator of India Ltd. (2010) 320 ITR 561 (SC), he submitted that the Hon’ble Supreme Court in the said decision has held that after 01.04.1989, the Assessing Officer has power to reopen the assessment, provided there is 'tangible material' to come to conclu…

ACIT-27(3), Mumbai vs. Simon Poulose Puthanangady, Mumbai

In the result, the appeal filed by the Revenue Department stands dismissed

ITA 5521/MUM/2024[2016-17]Status: DisposedITAT Mumbai27 May 2025AY 2016-17

Bench: Shri Narender Kumar Choudhry & Shri Prabhash Shankarassessment Year: 2016-17

For Appellant: Shri Jigar Mehta, Ld. A.RFor Respondent: Shri Leyaqat Ali Aafaqui, Ld. D.R
Section 10(38)Section 250Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH “B”, MUMBAI BEFORE SHRI NARENDER KUMAR CHOUDHRY, JUDICIAL MEMBER AND SHRI PRABHASH SHANKAR, ACCOUNTANT MEMBER Assessment Year: 2016-17 ACIT-27(3) Mr. Simon Poulose 4th Floor, Room No. 423, Puthanangady, Vashi Station Complex, Vs. Prop Precision Mould Craft Vashi-400703. 37 Shah Ind Estate, Deonar-400088. PAN: AAKPP9332L (Appellant) (Respondent) Present for: Assessee by : Shri Jigar Mehta, Ld. A.R. Revenue by : Shri Leyaqat Ali Aafaqui, Ld. D.R. Date of Hearing : 17.04.2025 Date of Pronouncement : 27.05.2025 O R D E R Per : Narender Kumar Choudhry, Judicial…

Vinod Hirachand Sanghvi, Mumbai vs. ACIT, Circle-19(3), Lalbaug, Mumbai

In the result, the grounds of appeal raised by the

ITA 4340/MUM/2023[2013-14]Status: DisposedITAT Mumbai27 May 2025AY 2013-14

Bench: Shri Pawan Singh & Girish Agrawal(Physical Hearing) Vinod Hirachandsanghvi Acit, Circle-19(3), Mumbai 315, Gr. Floor, Gogari Mansion, Vs Piramal Chamber, Lalbaug, 1 Carpenter Street, Charni Road, Parel, Mumbai, Mumbai-400004. Maharashtra-400012. [Pan No. Afmps3101F Appellant / Assessee Respondent / Revenue

Section 10(38)Section 139(1)Section 143(1)Section 143(2)Section 143(3)Section 147Section 148Section 254(1)Section 68Section 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” BENCH, MUMBAI BEFORE SHRI PAWAN SINGH, JUDICIAL MEMBER & GIRISH AGRAWAL, ACCOUNTANT MEMBER (Physical hearing) Vinod HirachandSanghvi ACIT, Circle-19(3), Mumbai 315, Gr. Floor, Gogari Mansion, Vs Piramal Chamber, Lalbaug, 1 Carpenter Street, Charni Road, Parel, Mumbai, Mumbai-400004. Maharashtra-400012. [PAN No. AFMPS3101F Appellant / Assessee Respondent / Revenue Assessee by Shri Raj Kumar Singh (ITP)/AR Revenue by Shri Rajesh Meshram, Sr. DR Date of institution of appeal 30.11.2023 Date of hearing 25.03.2025 Date of pronouncement 27.05.2025 Order under section 254(1)…

Income Tax Officer, Mumbai vs. Priti Nilesh Jain Daga, Mumbai

In the result the appeal filed by the assessee stands allowed and appeal filed by the revenue stands dismissed

ITA 4616/MUM/2024[2014-15]Status: DisposedITAT Mumbai10 Mar 2025AY 2014-15

Bench: Shri Sandeep Gosain, () & Shri Prabhash Shankar, ()

Section 10(38)Section 139(1)Section 147Section 148Section 250Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI BEFORE SHRI SANDEEP GOSAIN, (JUDICIAL MEMBER) & SHRI PRABHASH SHANKAR, (ACCOUNTANT MEMBER) I.T.A. No.4507/Mum/2024 Assessment Year: 2014-15 Pritin Nilesh Jain Daga Vs. Income Tax Officer 1804, Shreepati Arcade, Ward 19(2)(4), August Kranti Marg Mumbai Govaliya Tank, Income Tax Mumbai-400036. Department, Primal PAN: ACFPJ3136R Chambers, Dr SS Rao Marg, Parel, Mumbai-400012 (Appellant) (Respondent) I.T.A. No.4616/Mum/2024 Assessment Year: 2014-15 Income Tax Officer Ward Vs. Pritin Nilesh Jain 19(2)(4), Mumbai Daga Income Tax Department, 1804, Shreepati Prim…

Priti Nilesh Jain Daga, Mumbai vs. Income Tax Officer 19(2)(4), Mumbai

In the result the appeal filed by the assessee stands allowed and appeal filed by the revenue stands dismissed

ITA 4507/MUM/2024[2014-15]Status: DisposedITAT Mumbai10 Mar 2025AY 2014-15

Bench: Shri Sandeep Gosain, () & Shri Prabhash Shankar, ()

Section 10(38)Section 139(1)Section 147Section 148Section 250Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI BEFORE SHRI SANDEEP GOSAIN, (JUDICIAL MEMBER) & SHRI PRABHASH SHANKAR, (ACCOUNTANT MEMBER) I.T.A. No.4507/Mum/2024 Assessment Year: 2014-15 Pritin Nilesh Jain Daga Vs. Income Tax Officer 1804, Shreepati Arcade, Ward 19(2)(4), August Kranti Marg Mumbai Govaliya Tank, Income Tax Mumbai-400036. Department, Primal PAN: ACFPJ3136R Chambers, Dr SS Rao Marg, Parel, Mumbai-400012 (Appellant) (Respondent) I.T.A. No.4616/Mum/2024 Assessment Year: 2014-15 Income Tax Officer Ward Vs. Pritin Nilesh Jain 19(2)(4), Mumbai Daga Income Tax Department, 1804, Shreepati Prim…

Lalita Ramniranjan Agarwal, Vadodara vs. The Income Tax Officer, Ward-1(2)(4), Vadodara

In the result, the appeal filed by the Assessee is allowed

ITA 662/AHD/2023[2015-16]Status: DisposedITAT Ahmedabad28 Feb 2025AY 2015-16

Bench: Shri TR Senthil Kumar, Judicial Member\nAnd Shri Narendra Prasad Sinha, Accountant Member\nITA No. 662/Ahd/2023\nAssessment Year 2015-16\nLalita Ramniranjan Agarwal,\nB-201, Sandal Wood\nResidency, Urmi Char Rasta\nProductivity Road,\nVadodara-390020\nPAN: AECPA0173J\n(Appellant)\nThe ITO,\nWard-1(2)(4),\nVadodara\nVs\n(Respondent)\nAssessee by: Shri P.M. Jagasheth, A.R.\nRevenue by: Shri Nitin Vishnu Kulkarni, Sr. D.R.\nDate of hearing\n: 24-02-2025\nDate of pronouncement : 28-02-2025\nORD

For Appellant: Shri P.M. Jagasheth, A.RFor Respondent: Shri Nitin Vishnu Kulkarni, Sr. D.R
Section 10(38)Section 143(1)Section 143(3)Section 68

…THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “B” BENCH Before: Shri TR Senthil Kumar, Judicial Member And Shri Narendra Prasad Sinha, Accountant Member ITA No. 662/Ahd/2023 Assessment Year 2015-16 Lalita Ramniranjan Agarwal, B-201, Sandal Wood Residency, Urmi Char Rasta Productivity Road, Vadodara-390020 PAN: AECPA0173J (Appellant) The ITO, Ward-1(2)(4), Vadodara Vs (Respondent) Assessee by: Shri P.M. Jagasheth, A.R. Revenue by: Shri Nitin Vishnu Kulkarni, Sr. D.R. Date of hearing : 24-02-2025 Date of pronouncement : 28-02-2025 ORDER PER : TR SENTHIL KUMAR, JUDICIAL MEMBER:- This appeal is filed by the Assessee a…

Jaibhagwan Banarasidas Jindal, Jalna vs. The Income Tax Officer, Ward-1, Jalna

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

ITA 2016/PUN/2024[2016-17]Status: DisposedITAT Pune27 Feb 2025AY 2016-17

Bench: Shri R. K. Panda & Ms. Astha Chandraassessment Year : 2016-17

For Appellant: Shri Jaiprakash BairagraFor Respondent: Shri Ramnath P Murkunde
Section 10(38)Section 142(1)Section 143(1)Section 143(2)Section 143(3)Section 147Section 148Section 151

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “A”, PUNE BEFORE SHRI R. K. PANDA, VICE PRESIDENT AND MS. ASTHA CHANDRA, JUDICIAL MEMBER Assessment year : 2016-17 Jaibhagwan Banarasidas Jindal ITO, Ward-1, Jalna 29, New Mondha, Bus Stand, Jalna HO, Vs. Jalna – 431203 PAN: AAQPJ5374E (Appellant) (Respondent) Assessee by : Shri Jaiprakash Bairagra Department by : Shri Ramnath P Murkunde Date of hearing : 06-01-2025 Date of pronouncement : 27-02-2025 O R D E R PER R. K. PANDA, VP : This appeal filed by the assessee is directed against the order dated 02.08.2024 of the Ld. CIT(A) / NFAC, Delhi relating to assess…

Preeti Chirania, Mumbai vs. The Income Tax Officer Ward - 28(2)(4), Navi Mumbai

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

ITA 4245/MUM/2024[2012-13]Status: DisposedITAT Mumbai10 Dec 2024AY 2012-13

Bench: Shri Sandeep Gosain & Ms. Padmavathy Svs. Ito, Ward – 28(2)(4) Preeti Chirania 309, 3Rd Floor, Tower No. Flat No.3, 1St Floor, 6, Vashi Rly Stn., Mangesh Santa Durga Commercial Complex, Chs, Sector – 17, Nerul Vashi Navi Mumbai – 400 (E), Navi Mumbai – 400 703. 706. Pan/Gir No. Akbpc0636M (Applicant) (Respondent)

Section 148Section 234BSection 250Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH MUMBAI BEFORE SHRI SANDEEP GOSAIN, JUDICIAL MEMBER & MS. PADMAVATHY S, ACCOUNTANT MEMBER Vs. ITO, Ward – 28(2)(4) Preeti Chirania 309, 3rd Floor, Tower No. Flat No.3, 1st Floor, 6, Vashi Rly Stn., Mangesh Santa Durga Commercial Complex, Chs, Sector – 17, Nerul Vashi Navi Mumbai – 400 (E), Navi Mumbai – 400 703. 706. PAN/GIR No. AKBPC0636M (Applicant) (Respondent) Assessee by Ms. Ritu Kamal Kishore Revenue by Shri Ramakrishna Bandi, CIT(DR) सुनवाई क" तारीख/Date of Hearing 06.11.2024 घोषणा क" तारीख/Date of Pronouncement 10.12.2024 आदेश / ORDER PER SANDEEP GOSAIN, JM:…

Archit Gupta, New Delhi vs. ACIT, Centralcircle-29, New Delhi

In the result, appeal filed by the assessee is allowed

ITA 2625/DEL/2022[2013-14]Status: DisposedITAT Delhi06 Nov 2024AY 2013-14

Bench: Shri S.Rifaur Rahman & Shri Yogesh Kumar U.S.

For Appellant: Shri Ruchesh Sinha, AdvocateFor Respondent: Shri Virendra Singh, Sr. DR
Section 132Section 147Section 151Section 250

…rder of the CIT (A) order, it is has not been stated that against the scrip to which the appellant has traded, there is some adverse report of the SEBI. Reliance is further placed on the decision of the Supreme Court in the case of Pr CIT vs Kuntala Mohapatra 160 Taxmann.com 608 (SC) upholding the decision of Hon’ble Orissa High Court having the ratio that if shares were bought via account payee mode, held in a demat account for over 12 months, and then sold through a Recognised Stock Exchange after payment of STT, the taxpayer qualifies for exemption under section 10(38) for long-term capital gains. Reliance is…

Archit Gupta, New Delhi vs. ACIT, Central Circle-29, New Delhi

In the result, appeal filed by the assessee is allowed

ITA 2624/DEL/2022[2012-13]Status: DisposedITAT Delhi06 Nov 2024AY 2012-13

Bench: Shri S.Rifaur Rahman & Shri Yogesh Kumar U.S.

For Appellant: Shri Ruchesh Sinha, AdvocateFor Respondent: Shri Virendra Singh, Sr. DR
Section 132Section 147Section 151Section 250

…rder of the CIT (A) order, it is has not been stated that against the scrip to which the appellant has traded, there is some adverse report of the SEBI. Reliance is further placed on the decision of the Supreme Court in the case of Pr CIT vs Kuntala Mohapatra 160 Taxmann.com 608 (SC) upholding the decision of Hon’ble Orissa High Court having the ratio that if shares were bought via account payee mode, held in a demat account for over 12 months, and then sold through a Recognised Stock Exchange after payment of STT, the taxpayer qualifies for exemption under section 10(38) for long-term capital gains. Reliance is…

Amit Sajjan Kumar Gupta, Mumbai vs. DCIT 8(2)(1), Mumbai

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

ITA 1378/MUM/2024[2015-16]Status: DisposedITAT Mumbai10 Oct 2024AY 2015-16

Bench: Shri Pavan Kumar Gadale & Shri Girish Agrawalamitsajjankumargupta, Dcit-8(2)(1), 110, Ashirwad, Roomno.624, बनाम/ Ahmedabad Street, Aayakar Bhavan, Vs. Carnac Bunder, M.K.Road, Mumbai-400009. Mumbai-400020. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Abrpg2852N (अपीलार्थी /Appellant) (प्रत्यर्थी / Respondent) Assessee By : Shri Ravikant Pathak.Ar Revenue By : Shri Manoj Kumar Sinha, Sr. Dr सुनवाई की तारीख / Date Of Hearing 08/08/2023 घोषणा की तारीख /Date Of Pronouncement 10/10/2024 आदेश / Order Per Pavan Kumar Gadale - Jm: The Appeal Is Filed By The Assesse Against The Order Of The National Faceless Appeal Centre (Nfac), Delhi / Cit(A) Passed U/Sec 143(3) & U/Sec 250 Of The Act. The Assessee Has Raised The Following Grounds Of Appeal: 1. On The Facts & In The Circumstances Of The Case & In Law, The Learned Cit (A) Nfac, Erred In Confirming Order Made U/S. 143(3) Of The Income Tax Act, 1961 Which Is Bad In Law, Ultra Vires & Without Appreciating The Facts, Submission & Evidences In The Proper Perspective, Without Providing Copies Of Material Used Against The Appellant & Without Providing Opportunity Of Cross Examination, Is Liable To Be Annulled.

For Appellant: Shri Ravikant Pathak.ARFor Respondent: Shri Manoj Kumar Sinha, Sr. DR
Section 143(3)Section 68

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH MUMBAI BEFORE SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER & SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER AmitSajjanKumarGupta, DCIT-8(2)(1), 110, Ashirwad, RoomNo.624, बनाम/ Ahmedabad Street, Aayakar Bhavan, Vs. Carnac Bunder, M.K.Road, Mumbai-400009. Mumbai-400020. स्थायी लेखा सं./जीआइआर सं./PAN/GIR No. : ABRPG2852N (अपीलार्थी /Appellant) (प्रत्यर्थी / Respondent) Assessee by : Shri Ravikant Pathak.AR Revenue by : Shri Manoj Kumar Sinha, Sr. DR सुनवाई की तारीख / Date of Hearing 08/08/2023 घोषणा की तारीख /Date of Pronouncement 10/10/2024 आदेश / ORDER PER PAVAN KUMAR GADALE -…

Anju Chirania, Mumbai vs. The Income Tax Officer, Ward - 4(1)(3), Mumbai

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

ITA 3158/MUM/2024[2015-16]Status: DisposedITAT Mumbai25 Sept 2024AY 2015-16

Bench: Shri Pavan Kumar Gadale, Judicialmember & Shri Girish Agrawalanju Chirania, Vs. Ito, Ward –4(1)(3), 301, Sona Chambers, Room No. 637, 507/509, Jss Road, Aayakar Bhavan, Chira Bazar, Marine Lines, M.K.Road, Mumbai – 400 002. Mumbai-400020. Pan/Gir No. Afcpc9073Q (अपीलाथ"/Appellant) (""यथ"/Respondent)

Section 133(6)Section 147Section 148Section 69A

…IN THE INCOME TAX APPELLATE TRIBUNAL, “A” BENCH MUMBAI BEFORE SHRI PAVAN KUMAR GADALE, JUDICIALMEMBER & SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER Anju Chirania, Vs. ITO, Ward –4(1)(3), 301, Sona Chambers, Room No. 637, 507/509, JSS Road, Aayakar Bhavan, Chira bazar, Marine Lines, M.K.Road, Mumbai – 400 002. Mumbai-400020. PAN/GIR No. AFCPC9073Q (अपीलाथ"/Appellant) (""यथ"/Respondent) Appellant by Ms.Ritu Kamal Kishore & Shri.Ravi Ganatra. AR Respondent by Shri Manoj Kumar Sinha.Sr.DR सुनवाई क" तार"ख/Date of Hearing 07.08.2024 घोषणा क" तार"ख/Date of Pronouncement 25.09.2024 ORDER PER PAVAN KUMAR GADALE, JM: The as…

Ganesh Kumar Sharma, Cuttack vs. ITO, Ward-1, Cuttack

In the result, appeal of the assessee is allowed on the legal as well as on merits also

ITA 258/CTK/2024[2013-14]Status: DisposedITAT Cuttack05 Aug 2024AY 2013-14
For Appellant: Shri S.K.Sarangi, CAFor Respondent: Shri S.C.Mohanty, Sr. DR
Section 10(38)Section 139Section 147Section 148Section 153Section 31Section 68

…आयकर अऩीऱीय अधधकरण, कटक न्यायऩीठ,कटक IN THE INCOME TAX APPELLATE TRIBUNAL CUTTACK BENCH CUTTACK BEFORE SHRI GEORGE MATHAN, JUDICIAL MEMBER AND SHRI MANISH AGARWAL, ACCOUNTANT MEMBER आयकर अऩीऱ सं/ITA No.258/CTK/2024 (ननधाारण वषा / Assessment Year : 2013-2014) Ganesh Kumar Sharma, Vs ITO, Ward-1, Cuttack Buxi Bazar, C/O: D.N.Mohanty, Buxi Bazar, Cuttack-753001 PAN No. :AHMPS 4283 J (अऩीऱाथी /Appellant) (प्रत्यथी / Respondent) .. ननधााररती की ओर से /Assessee by : Shri S.K.Sarangi, CA राजस्व की ओर से /Revenue by : Shri S.C.Mohanty, Sr. DR सुनवाई की तारीख / Date of Hearing : 05/08/2024 घोषणा की तारीख/Date of Pronounce…

Nitesh Rajhans Singh, Mumbai vs. The Income Tax Officer -26(2)(3), Mumbai

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

ITA 4114/MUM/2023[BAMPS4588L]Status: DisposedITAT Mumbai15 Jul 2024

Bench: Shri Pavan Kumar Gadale & Ms Padmavathy S

For Appellant: Shri Rajiv Khandelwal &For Respondent: Shri Laxmi Kant.Sr.DR
Section 10(38)Section 148Section 68Section 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH MUMBAI BEFORE SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER & MS PADMAVATHY S, ACCOUNTANT MEMBER ITA No.4114 & 4115/Mum/2023 (Assessment Year: 2013-14 & 2014-15) Nitesh Rajhans Singh, ITO- 26(2)(3), 13/14, Indra Bhavan, Kautilya Bhavan, बनाम/ Patel Wadi, Pipeline, BKC, Bandra (East), Vs. Kurla(West), Mumbai-400051. Mumbai-400070. "थायी लेखा सं./जीआइआर सं./PAN/GIR No. : BAMPS4588L (""थ" / Respondent) (अपीलाथ" /Appellant) Appellant by : Shri Rajiv Khandelwal & Shri Akash Kumar.AR Respondent by : Shri Laxmi Kant.Sr.DR सुनवाई की तारीख / Date of Hearing 08/05/2024 घोषणा क…

Jitendra Udaylal Jain, Maharashtra vs. National Faceless Appeal Centre (NFAC), Delhi

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

ITA 4543/MUM/2023[2011-12]Status: DisposedITAT Mumbai21 Jun 2024AY 2011-12

Bench: Shri Pavan Kumar Gadale & Shri Girish Agrawal

Section 10(38)Section 143(1)Section 234ASection 271(1)(c)Section 68Section 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL, “F” BENCH MUMBAI BEFORE SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER & SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER ITA. No. 4543/MUM/2023 (A.Y.2011-12) ITO-26(1)(4), Jitendra Udaylal Jain, Vs 3 rd floor, 6 th Tower, Shop No.1, Muncipal Bldg, . Vashi Railywaystation, RA Kidwai Road, Wadala, Complex, Vashi, Mumbai -400037. Navi Mumbai-400703. PAN/GIR No. AABPJ5480E (अपीलाथ"/Appellant) (""यथ"/Respondent) Assessee by Shri Vimal Punmiya.AR Revenue by Ms.Rajeshwari Menon.Sr.DR सुनवाई क" तार"ख/Date of Hearing 28.05.2024 घोषणा क" तार"ख/Date of Pronouncement 25.06.2024 ORDER PER PAVAN KUMAR…

Ketan Harilal Mehta HUF by Its Karta Ketan H Mehta, Mumbai vs. ITO Ward-33(2)(2) Mumbai Presently Juridiction With ITO 42(1)(1) Mumbai, Mumbai

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

ITA 770/MUM/2023[2014-15]Status: DisposedITAT Mumbai03 Jun 2024AY 2014-15

Bench: Shri B R Baskaran & Shri Pavan Kumar Gadaleketan Harilal Mehta Huf Vs. Ito-42(1)(1), (By Its Karta Kautilya Bhavan, Ketanmehta)No.B/1101, Bkc,Bandra(E), Siddhi Vinayak Tower, Mumbai-400051. Opp Phoenix Hospital, Chikuwadi, Mumbai-400092. Pan/Gir No. : Aaehk3266N Appellant .. Respondent Appellant By : Shri. Nishit Gandhi.Ar Respondent By : Shri. P.D. Chougule.Sr.Dr Date Of Hearing 02.04.2024 Date Of Pronouncement 03.06.2024 आदेश / O R D E R Per Pavan Kumar Gadale, Jm: The Appeal Is Filed By The Assessee Against The Order Of The National Faceless Appeal Centre (Nfac)(Cit(A)) Delhi Passed U/Sec 143(3) & U/Sec250 Of The Income Tax Act. The Assessee Has Raised The Following Grounds Of Appeal:

For Appellant: Shri. Nishit Gandhi.ARFor Respondent: Shri. P.D. Chougule.Sr.DR
Section 10(38)Section 68Section 69C

…IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SHRI B R BASKARAN, ACCOUNTANT MEMBER & SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER Ketan Harilal Mehta HUF Vs. ITO-42(1)(1), (By Its Karta Kautilya Bhavan, KetanMehta)No.B/1101, BKC,Bandra(E), Siddhi Vinayak Tower, Mumbai-400051. Opp Phoenix Hospital, Chikuwadi, Mumbai-400092. PAN/GIR No. : AAEHK3266N Appellant .. Respondent Appellant by : Shri. Nishit Gandhi.AR Respondent by : Shri. P.D. Chougule.Sr.DR Date of Hearing 02.04.2024 Date of Pronouncement 03.06.2024 आदेश / O R D E R PER PAVAN KUMAR GADALE, JM: The appeal is filed by the assessee against t…