URVI PREMAL SHAH,BANDRA-EAST vs. ITO, WARD-19(3)(1), TARDEO ROAD
In the result, the assessee’s appeal is allowed
ITA 170/MUM/2024[2018-19]Status: DisposedITAT Mumbai16 Dec 2024AY 2018-19
Bench: SHRI BR BASKARAN (Accountant Member), SHRI SUNIL KUMAR SINGH (Judicial Member)
Section 143(2)Section 149(1)(ii)Section 250Section 56(2)(X)Section 68
being difference between the ‘fair market value’ of equity shares gifted from relative and the cost of acquisition by previous owner/donor by invoking section 149(1)(ii) of the Act.
4. Perused the records and heard learned representative for the appellant assessee and learned DR for the respondent revenue department
