ALLIED PHOTOGRAPHICS INDIA LTD.,,MUMBAI vs. PCIT, MUMBAI-1, MUMBAI
In the result, the appeal filed by the assessee is allowed
ITA 1083/MUM/2023[2018-19]Status: DisposedITAT Mumbai01 Aug 2023AY 2018-19
Bench: Shir Pavan Kumar Gadale & Shri S Rifaur Rahmanm/S Alliedphotographics Vs. Pr.Cit-1, India Ltd., 3Rd Floor, Room No.330, Kasturi Buildings, 3Rd Floor, Jamshedji Tata Road, Aayakar Bhavan, Churchgate, M.K. Road, Mumbai -400020. Mumbai-400020. Pan/Gir No. : Aabca2068A Appellant .. Respondent Appellant By : Mr.Nitish Gandhi.Ar Respondent By : Ms.Smiti Samant. Dr Date Of Hearing 15.06.2023 Date Of Pronouncement 02.08.2023 आदेश / O R D E R Per Pavan Kumar Gadale Jm: The Assessee Has Filed The Appeal Against The Order Of The Pr. Commissioner Of Income Tax (Pr.Cit)-1, Mumbai Passed U/S 263 Of The Act. The Assessee Has Raised The Fallowing Grounds Of Appeal.
For Appellant: Mr.Nitish Gandhi.ARFor Respondent: Ms.Smiti Samant. DR
Section 10Section 143(3)Section 2(14)Section 2(14)(iii)Section 263
Kanpur Development Authority functions in and around the Kanpur city of Uttar Pradesh.
b. It is pertinent to note that as per section 2(14)(i)(a)&(b) of IT Act, those agricultural lands which are situated within the
ITA Nos. 1083/Mum/2023
M/s Allied Photographics India Ltd. Mumbai.
jurisdiction ... within the municipal limits of Kanpur Municipal Corporation. Hence, the said land is not exempt from the definition of capital asset as per section 2(14)(i)(a)&(b) of IT Act.
3 In view of the above observations the assessment order passed by the A.O, without proper verification
