Ramona Pinto v. DCIT

INCOME TAX OFFICER, COIMBATORE vs. DAMAYANTI RAMACHANDRAN, GN MILLS POST, COIMBATORE

Bench: Hon'Ble Shri Manu Kumar Giri & Hon'Ble Shri S. R. Raghunathaआयकर अपील सं./Ita No.103/Chny/2025, निर्धारण वर्ष/Assessment Year: 2015-16 Income Tax Officer, Non-Corporate Ward-4(3) Coimbatore Damayanti Ramachandran, Pb No.5303, Gn Mills Post, Coimbatore, Tamil Nadu-641029 [Pan: Aabhd8298Q] (अपीलार्थी/Appellant) V. (प्रत्यर्थी/Respondent) Co No.19/Chny/2025, निर्धारण वर्ष/Assessment Year: 2015-16 Damayanti Ramachandran, Pb No.5303, Gn Mills Post, Coimbatore, Tamil Nadu-641029 [Pan: Aabhd8298Q] Income Tax Officer, Non-Corporate Ward-4(3) Coimbatore V. (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) आयकर अपील सं./Ita No.149/Chny/2025, निर्धारण वर्ष/Assessment Year: 2016-17 Income Tax Officer, Non-Corporate Ward-4(3) Coimbatore Damayanti Ramachandran, Pb No.5303, Gn Mills Post, Coimbatore, Tamil Nadu-641029 [Pan: Aabhd8298Q] (अपीलार्थी/Appellant) V. (प्रत्यर्थी/Respondent) Co No.20/Chny/2025, निर्धारण वर्ष/Assessment Year: 2016-17 Damayanti Ramachandran, Pb No.5303, Gn Mills Post, Coimbatore, Tamil Nadu-641029 [Pan: Aabhd8298Q] Income Tax Officer, Non-Corporate Ward-4(3) Coimbatore (अपीलार्थी/Appellant) V. (प्रत्यर्थी/Respondent) अपीलार्थी की ओर से/ Appellant By Mr.Ketan K. Ved, C.A

…t within the ambit of section 28(iv) of the Act. We therefore hold that provisions of section 28 (iv) cannot be applied. 6.10 At this juncture, the Id.AR placed reliance on the ruling of the Hon'ble Bombay High Court in the case of Ramona Pinto v. DCIT [2024] 464 ITR 305 (Bombay) wherein the Hon'ble Court held that, settlement amount received by an assessee for relinquishing all her rights and claims as a partner in a partnership firm was related to her retirement from firm and was not in nature of income chargeable to tax. Further, the Hon'ble court placing reliance on the ruling of the Hon'ble Supreme Court in…

INCOME TAX OFFICER, COIMBATORE vs. DAMAYANTI RAMACHANDRAN, GN MILLS POST, COIMBATORE

In the result, both the appeals of revenue for the A

Bench: Hon’Ble Shri Manu Kumar Giri & Hon’Ble Shri S. R. Raghunathaआयकर अपील सं./Ita No.103/Chny/2025, ननिाारण वर्ा/Assessment Year: 2015-16

…within the ambit of section 28(iv) of the Act. We therefore hold that provisions of section 28 (iv) cannot be applied. 6.10 At this juncture, the ld.AR placed reliance on the ruling of the Hon’ble Bombay High Court in the case of Ramona Pinto v. DCIT [2024] 464 ITR 305 (Bombay) wherein the Hon’ble Court held that, settlement amount received by an assessee for relinquishing all her rights and claims as a partner in a partnership firm was related to her retirement from firm and was not in nature of income chargeable to tax. Further, the Hon’ble court placing reliance on the ruling of the Hon’ble Supreme Court in…