“Section 2(47)(i)”

RAOUL THACKERSEY,MUMBAI vs. DCIT 12(1), MUMBAI

Appeal is partly allowed in above terms

Bench: Shri Satbeer Singh Godara & Shri Girish Agrawal

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI “D” BENCH : MUMBAI BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER AND SHRI GIRISH

KHUSHAAL C. THACKERSEY,MUMBAI vs. ASST CIT 12(1), MUMBAI

In the result, the appeal filed by the assessee is partly allowed

Bench: Justice (Rtd.) C.V. Bhadang () & Shri B.R. Baskaran (Am)

IN THE INCOME TAX APPELLATE TRIBUNAL Mumbai “D” Bench, Mumbai. Before Justice (Rtd.) C.V. Bhadang (President) & Shri B.R. Baskaran (AM

RAOUL S. THACKERSEY,MUMBAI vs. ASST CIT 12(1), MUMBAI

In the result, the appeal filed by the assessee is partly allowed

Bench: Justice (Rtd.) C.V. Bhadang () & Shri B.R. Baskaran (Am)

IN THE INCOME TAX APPELLATE TRIBUNAL Mumbai “D” Bench, Mumbai. Before Justice (Rtd.) C.V. Bhadang (President) & Shri B.R. Baskaran (AM

CITI CORP INTERNATIONAL FINANCE CORPORATION,MUMBAI vs. ASST DIT (IT) 1(2),

In the result, both the appeals filed by the assessee are allowed

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm

54EC. In the first place, we are in agreement with the contention of ld. counsel for the assessee that sale as contemplated under section 2(47)(i) and extinguishment of rights as contemplated under section 2(47)(ii) are not mutually interchangeable. If a particular transaction is the transaction ... extinguishment of any right in capital asset then there was no necessity of including sale and exchange in the definition of transfer under section 2(47). It is well-settled principle of interpretation that no word in a statute is superfluous and each word has to be assigned specific meaning

CITICORP INTERNATIONAL FINANCE CORPORATION,MUMBAI vs. ADDL.D.I.T. (IT) RG.-1, MUMBAI

In the result, both the appeals filed by the assessee are allowed

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm

54EC. In the first place, we are in agreement with the contention of ld. counsel for the assessee that sale as contemplated under section 2(47)(i) and extinguishment of rights as contemplated under section 2(47)(ii) are not mutually interchangeable. If a particular transaction is the transaction ... extinguishment of any right in capital asset then there was no necessity of including sale and exchange in the definition of transfer under section 2(47). It is well-settled principle of interpretation that no word in a statute is superfluous and each word has to be assigned specific meaning

MR. ANTHONY P LEWIS,MUMBAI vs. ITO-22(1)(1), MUMBAI

however, both declined to rely upon the same. 6.3.2. Relying upon the definition of the term ‘transfer’ contained in Section 2(47)(v) of the Act, she submitted that to constitute 'transfer' in terms of Section 2(47)(v) of the Act, the possession of the Property should have been ... such a later stage. 6.4.4. In view of the above, she submitted that there was clearly transfer of Property in terms of Section 2(47)(i) of the Act. However, without prejudice to the above, she submitted that the provisions of Section 2(47)(v) of the Act were also

HEMA DALJIT SINGH CHADHA,MUMBAI vs. ITO 23(1)(5), MUMBAI

In the result, appeal filed by the assessee is fully allowed

Bench: Shri Kuldip Singh & Shri Gagan Goyalsmt. Hema Daljit Singh Chadha, Flat No. 204, Grant Canyon, Opp. Hdfc Bank, Pali Hill, Bandra West, Mumbai-400050. Pan: Acxpc0971B ...... Appellant Vs. Ito-23(1)(5), Room No. 114, Matru Mandir, 1St Floor, Tardeo Road, Mumbai-400007 ..... Respondent Appellant By : None Respondent By : Sh. Tejinder Pal Singh, Sr. Dr Date Of Hearing : 14/07/2022 Date Of Pronouncement : 10/10/2022 Order Per Gagan Goyal, A.M:

Chadha “1. Whether on the facts and in the circumstances of the case, the Ld. CII-4A) erred in holding that provisions of section 2(47)(1) are applicable in my case ignoring the fact that the period of holding the asset was 37 months as the final payment ... transferee for consideration who has no notice of the contract or of the part performance thereof.” 8. We have analysed the provisions of section 2(47) of the act and sec 53A of transfer of property Act, 1882. The basic crux of our analysis lies with word possession. The specific