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“Section 55(2)(aa)(iiia)”

Section References (mined)Section 55Section 55(2)(aa)(iiia)8 judgments

Judgments citing Section 55(2)(aa)(iiia)

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)

provisions of section 55(2)(ac) of the Act: 4. without prejudice to the above, failed to appreciate that the provisions of section 55(2)(aa)(iiia) of the Act providing for cost of acquisition of bonus shares to be Nil cannot be imported into the provisions of section 55

Ramesh Jaisinghani, Mumbai vs. Deputy Commissioner of Income Tax Central Circle -5(2), Mumbai

In the result, appeal of the assessee is allowed

ITA 980/MUM/2025[2020-21]Status: DisposedITAT Mumbai10 Oct 2025AY 2020-21

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

Section 143(3)Section 244ASection 50(2)(ec)Section 55(2)(aa)Section 55(2)(ac)Section 55(2)(as)Section 56(2)(ac)

provisions of section 55(2)(ac) of the Act: 4. without prejudice to the above, failed to appreciate that the provisions of section 55(2)(aa)(iiia) of the Act providing for cost of acquisition of bonus shares to be Nil cannot be imported into the provisions of section 55

Bharat Jaisinghani, Mumbai vs. Deputy Commissioner of Income Tax Central Circle -5(2), Mumbai

ITA 971/MUM/2025[2020-21]Status: DisposedITAT Mumbai25 Jul 2025AY 2020-21

Bench: Shri Narender Kumar Choudhry (Jm) & Shri Omkareshwar Chidara (Am) Bharat Jaisinghani Dcit, Central Circle 1302/B, Beau Monde 5(2), Room No. 427 Appasaheb Marathe Marg Vs. Kautilya Bhavan, Bkc Prabhadevi, Mumbai-25 Mumbai-400 051. Pan : Aeipj0261N Appellant Respondent

For Respondent: Shri Rajan Vora, CA, Shri
Section 143(1)Section 234ASection 55Section 55(2)(aa)Section 55(2)(ac)

provisions of section 55(21 (ac1) of the Act: 8. without prejudice to the above, failed to appreciate that the provisions of section 55(2)(aa)(iiia) of the Act providing for cost of acquisition of bonus shares to be Nil cannot be imported into the provisions of section 55

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)

Market Value ('FMV) of shares as on 31 January 2018 for the purpose of computation of capital gains; Without prejudice, provisions of section 55(2)(aa)(iiia) of the Act cannot be imported into the provisions of section 55(2)(ac) of the Act: 8. without prejudice to the above

Praveen Ranjan Sinha, Gurgaon vs. DCIT, Circle-3(1), Gurgaon

In the result, the appeal of the assessee is allowed and Stay Application of the assessee is dismissed as infructuous

ITA 399/DEL/2024[2015-16]Status: DisposedITAT Delhi08 Jul 2024AY 2015-16

Bench: Shri Kul Bharat & Shri M. Balaganeshpraveen Ranjan Sinha, Vs. Dcit, Icb 141, The Icon, Dlf Circle-3(1), City, Phase-V, Gurgaon, Gurgaon Haryana (Appellant) (Respondent) Pan: Ardps3000N Sa No. 57/Del/2024 (In Ita No. 399/Del/2024) (Assessment Year: 2015-16) Praveen Ranjan Sinha, Vs. Dcit, Icb 141, The Icon, Dlf Circle-3(1), City, Phase-V, Gurgaon, Gurgaon Haryana (Appellant) (Respondent) Pan: Ardps3000N Assessee By : Shri Sudesh Garg, Adv Ms. Bhavya Garg, Adv Revenue By: Shri Dharambir Singh, Cit Dr Date Of Hearing 08/04/2024 Date Of Pronouncement 08/07/2024

For Appellant: Shri Sudesh Garg, AdvFor Respondent: Shri Dharambir Singh, CIT DR
Section 143(3)Section 145Section 2Section 250Section 55(2)(aa)Section 94(8)

cost of the original shares sold during the year under consideration. According to the Ld. Representative, this is also on par with section 55(2)(aa)(iiia) of the Act wherein the cost of bonus SA No. 57/Del/2024 Praveen Ranjan Sinha shares is to be taken

M/S. Zash Traders, Bangalore vs. Assistant Commissioner of Income-Tax, Circle-4(1)(1), Bengaluru

ITA 747/BANG/2023[2020-21]Status: DisposedITAT Bangalore29 Apr 2024AY 2020-21

Bench: Shri Chandra Poojari & Shri Soundararajan K.

For Appellant: Sri Sandeep Huilgol, A.RFor Respondent: Sri Sunil Kumar Agarwal, D.R
Section 250Section 55Section 55(2)(aa)Section 55(2)(ac)Section 55(2)(b)

stipulations in sub-clause (iiia) of sub- section (2) of section 55 of the Act. In other words, the fact that section 55(2)(aa)(iiia) of the Act applies only when Financial Asset is received without consideration and that too contingent upon holding of another Financial Asset, can never ... Nothing is to be read in, nothing is to be implied. One can only look fairly at the language used. Thus, while section 55(2)(aa)(iiia) of the Act clearly provides valuation of bonus shares, one can never look beyond for its interpretation. 4.4 This argument is buttressed

Au Small Finance Bank Limited, Jaipur vs. Principal Commissioner of Income Tax, Jaipur-1

In the result both the appeals filed by the assessee in ITA

ITA 203/JPR/2022[2017-18]Status: DisposedITAT Jaipur28 Jul 2023AY 2017-18

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)

For Appellant: Shri Sanjay Jhanwar, Sr. AdvocateFor Respondent: Shri James Kurian, CIT
Section 115JSection 263Section 35ASection 36(1)(viia)

held by the Appellant at the end of the year shall be considered to have a ‘Nil’ cost of acquisition as per Section 55(2)(aa)(iiia) of the Act while computing the taxability under the head Capital Gain. However, the said shares shall be recognized differently in the Books

Surya Kant Gupta, Gurgaon vs. ITO Ward - 4(2), Gurgaon

Appeal of the assessee is allowed

ITA 7828/DEL/2019[2015-16]Status: DisposedITAT Delhi18 Aug 2021AY 2015-16

Bench: Ms Suchitra Kamble & Shri Prashant Maharishi

Section 55(2)(aa)

considered by determining the cost of original shares sold during the year under consideration. This is also on par with Section 55(2)(aa)(iiia) of the Act where in the cost of bonus shares is to be taken as ‘Nil’ and the entire cost is liable to be adjusted