“Section 55(2)(aa)(ilia)”

Section References (mined)Section 55Section 55(2)(aa)(ilia)2 judgments

INDER JAISINGHANI,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE -5(2), MUMBAI

In the result, appeal of the assessee is allowed

ITA 974/MUM/2025[2020-21]Status: DisposedITAT Mumbai31 Oct 2025AY 2020-21

Bench: SHRI SANDEEP GOSAIN (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

For Appellant: Shri Rajan Vora and Shri Pranay Gandhi, CAsFor Respondent: Shri R A Dhyani, CIT DR

Section 139(1)Section 143(3)Section 244ASection 55(2)(aa)Section 55(2)(ac)

shares as on 31 January 2018in light of provision of Explanation a(i) Section 55(2)(ac); Without prejudice, provisions of section 55(2)(aa)(ilia) of the Act cannot be imported into the provisions of section 55(2)(ac) of the Act: 4. without prejudice to the above, failed

GIRDHARI JAISINGHANI,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE -5(2), MUMBAI

In the result, appeal of the assessee is allowed for statistical purposes

ITA 973/MUM/2025[2020-21]Status: DisposedITAT Mumbai24 Jul 2025AY 2020-21

Bench: Shri Narendra Kumar Billaiya, Hon’Ble & Shri Anikesh Banerjee, Hon’Ble

For Appellant: Shri Rajan Vora & Shri Lekh Mehta, A/RsFor Respondent: Shri Swapnil Choudhary, Sr. D/R

Section 143(1)Section 234ASection 55(2)(aa)Section 55(2)(ac)

provisions of section 55(2)(ac) of the Act: 8. without prejudice to the above, failed to appreciate that the provisions of section 55(2)(aa)(ilia) of the Act providing for cost of acquisition of bonus shares to be Nil cannot be imported into the provisions of section 55