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)
Finance (No. 21 Act. 2024 should be applied prospectively.
erred in holding that the amendment made to the Explanation to section 50(2)(ec) of the Act by the Finance (No. 2) Act, 2024
with retrospective effect from 1 April 2018 is applicable to present case of transfer of shares
