SUPRERIOR FINANCIAL CONSULTANCY SERVICES P.LTD,MUMBAI vs. ASST CIT 1(3), MUMBAI
In the result, appeals filed by the assessee are allowed and appeal filed by the revenue is dismissed
ITA 7501/MUM/2016[2003-04]Status: DisposedITAT Mumbai21 Feb 2022AY 2003-04
Bench: Shri Laliet Kumar, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble&
For Appellant: Shri V.G. Ginde &For Respondent: Shri Hoshang Boman Irani
Section 143(1)Section 148Section 43(1)(ii)
sale of shares (including those converted from stock-in-trade), our company claimed deduction for the “cost of acquisition” as provided in section 43(1)(ii) of the Act.
This treatment is in accordance with the Hon’ble Bombay High
Court’s judgment in CT vs. Jaanhavi Investments
