ITO 25(2)(1), MUMBAI vs. JAGDISH C. DHABALIA, MUMBAI

Bench: Shri Amit Shukla & Shri Ashwani Taneja

gain, which are subject to sections 54, 54B, 54D, 54E, 54EA, 54EB, 54F, 54G & 54H. However, section 54EC has not been mentioned despite it is analogous with similar sections like 54E, 54EA & 54EB which had a sunset clause. The exemption from taxability of capital

ITO 25(2)(2), MUMBAI vs. MEHUL J DHABALIA, MUMBAI

Bench: Shri Amit Shukla & Shri Ashwani Taneja

gain, which are subject to sections 54, 54B, 54D, 54E, 54EA, 54EB, 54F, 54G & 54H. However, section 54EC has not been mentioned despite it is analogous with similar sections like 54E, 54EA & 54EB which had a sunset clause. The exemption from taxability of capital

ASSISTANT COMMISSIONER OF INCOME TAX-24(1), MUMBAI vs. ANIL GULABDAS SHAH, MUMBAI

Bench: Hon’Ble Shri Mahavir Singh, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am आयकरअपील सं./ I.T.A. No.5134/Mum/2017 & Co. No. 319/Mum/2018 (िनधा"रण वष" / Assessment Year: 2012-13) Acit – 24(1) Shri Anil Gulabdas Shah, Room No. 604, 6Th Floor, B-1601, Titanium Towers बनाम/ 16Th Floor, Jai View Chsl Piramal Chamber, Parel Vs. Sahakar Nagar, Andheri (W) Mumbai. Mumbai – 400 058 "थायीलेखासं./जीआइआरसं./Pan/Gir No. Bmfps-8959-E (अपीलाथ"/Appellant)/Respondent (""थ" / Respondent)/Appellant : Revenue By : Shri Satish Chandra Rajore- Ld. Dr Assessee By : Shri Anil G. Shah – Assessee-In-Person सुनवाई की तारीख/ : 05/08/2019 Date Of Hearing घोषणा की तारीख / : 09/08/2019 Date Of Pronouncement आदेश / O R D E R Manoj Kumar Aggarwal (): - 1. Aforesaid Appeal By Revenue For Assessment Year [In Short Referred To As ‘Ay’] 2012-13 Contest The Order Of Ld. Commissioner Of Income- Tax (Appeals)-36, Mumbai, [In Short Referred To As ‘Cit(A)’], Appeal No. Cit(A)-36/It-217/Acit-24(1)/15-16 Dated 26/05/2017 On Following Grounds Of Appeal: -

gains arising from the transfer of a capital asset effected in the previous year shall, save as otherwise provided in sections 54. 54B. 54D

MOHD RAZA AKBERALI GHUGHARIA,MUMBAI vs. ITO 15(2)(3), MUMBAI

The appeal of the assessee is allowed

Bench: Shri Joginder Singh & Shri Ashwani Tanejaassessment Year: 2005-06 Mohd Raza Akberali Ito 15(2)(3), Ghugharia, Matru Mandir Tardeo, बनाम/ M/S. N.S. Virani & Co., C.A. S Mumbai-400034 Vs. 28, Bhanushali Bldg. 35, Mint Road, Mumbai-400001 (Assessee) (Revenue) P.A. No.Aabpg3107B "नधा"रती क" ओर से / Assessee By Shri Vijay Mehta & Shri Anuj Kisnadwala. (Ar) Shri K. V. Vispure ( Dr) राज"व क" ओर से / Revenue By 27/04/2016 सुनवाई क" तार"ख / Date Of Hearing : आदेश क" तार"ख /Date Of Order: 01/07/2016

gains arising from the transfer of a capital asset effected in the previous year shall, save as otherwise provided in sections 54, 54B, 54D

VISHAL DUTT,NAVI MUMBAI vs. ITO WD 22(3)(4), NAVI MUMBAI

In the result, the appeal filed by the assessee in ITA N0

Bench: Shri Sanjay Garg & Shri Ramit Kocharआयकर अपील सं./I.T.A. No. 878/Mum/2014 ("नधा"रण वष" / Assessment Year : 2008-09) Vishal Dutt, बनाम/ Income Tax Officer, Ward 205, B-Wing, Big Splash, – 22(3)(4), V. Sector – 17,Vashi, 3 Rd Floor, Tower No. 6, Navi Mumbai – 400703. Vashi Railway Station, Navi Mumbai – 400 703. "थायी लेखा सं./Pan : Aagpd 1553 M (अपीलाथ" /Appellant) .. (""यथ" / Respondent)

gains arising from the transfer of a capital asset effected in the previous year shall, save or otherwise provided in sections 54, 54B, 54D

SHRI RAJESH RAMCHANDRA DAKE,PANVEL vs. DY CIT CC-1, MUMBAI

gains addition, the Tribunal held that the lands sold were agricultural lands, situated beyond 8 km from the municipal limits (based on physical measurement and Google Maps evidence), and therefore not a capital asset under Section 2(14) of the Act. The Revenue's cross-objection was dismissed as infructuous.", "result": "Allowed", "sections

AMIRALI AKBARALI ENGINEER,MUMBAI vs. ACIT 24(1), MUMBAI

The appeal of the assessee is partly allowed for

Bench: Shri Joginder Singh & Shri Ramit Kocharassessment Year: 2012-13 Amirali Akbarali Engineer, Vs Acit, A/201, Senha Apna Ghar, Ward-24(1), Unit No.11, Piramal Chamber, Lalbaug, Swami Samarth Nagar, Mumbai Andheri (West), Mumbai-400053 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No.Aacpe9331N

gain tax is provided in sections 54, 54B, 54D, 54E, 54EA, 6 Amirali Akbarali Engineer 54EB, 54F and 54H as is apparent from section 45 itself. A perusal of the provisions of sections 54, 54B, 54D, 54E, 54EA, 54EB and 54F clearly reveals that the Legislature has used the words ‘a’ and ‘any’ with reference to investment of capital

PRADIPKUMAR P. KANAKIA,MUMBAI vs. DCIT CIR13(2), MUMBAI

The appeal of the assessee is allowed

Bench: Shri Joginder Singh & Shri Rajesh Kumarassessment Year: 2011-12 Shri Pradipkumar Purshottam Dcit, Kanakia, Circle-13(2), बनाम/ C/O- Pratap Re-Rollers Pvt. Ltd Aayakar Bhavan, Vs. 18, Steel Yard House, Iron Mumbai-400020 Market, Sant Tukaram Road, Mumbai-400009 ("नधा"रती /Assessee) (राज"व /Revenue) Pan. No.Afvpk8451P

section referred to as the new asset) the difference between the amount of the capital gain and the cost of the new asset shall be charged under s. 45 as the income of the previous year; and for the purpose of computing in respect of the new asset any capital gain arising from its transfer within a period of three

ANIK INDUSTRIES LTD,MUMBAI vs. DCIT CC 40, MUMBAI

The appeal stands allowed

Bench: Shri Saktijit Dey, Jm & Shri Manoj Kumar Aggarwal, Am आयकरअपील सं./ I.T.A. No.7189/Mum/2014 (िनधा"रण वष" / Assessment Year:2010-11) M/S. Anik Industries Ltd. Dcit-Central Circle -40 बनाम/ 610, Tulsiani Chambers Mumbai. Vs. Nariman Point, Mumbai. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaacm-2696-K (अपीलाथ"/Appellant) : (""थ" / Respondent) & आयकरअपील सं./ I.T.A. No.5234/Mum/2016 (िनधा"रण वष" / Assessment Year:2012-13) M/S. Anik Industries Ltd. Dcit-Central Circle -40 बनाम/ 610, Tulsiani Chambers Mumbai. Vs. Nariman Point, Mumbai. "थायीलेखासं./जीआइआरसं./Pan/Gir No. Aaacm-2696-K (अपीलाथ"/Appellant) : (""थ" / Respondent) अपीलाथ"कीओरसे/ Appellant By : Shri Bhupendra Shah-Ld. Ar ""थ"कीओरसे/Respondent By : Shri Manoj Kumar-Ld. Dr सुनवाईकीतारीख/ : 17/01/2020 Date Of Hearing घोषणाकीतारीख / : 19/03/2020 Date Of Pronouncement

gains arising from the transfer of a capital asset effected in the previous year shall, save as otherwise provided in sections [***] [54, [54B, [***], [54D

SUPERMAX PERSONAL CARE P.LTD,THANE vs. ASST CIT (LTU)-1, MUMBAI

gains arising from the transfer of a capital asset effected in the previous year shall, save as otherwise provided in sections 54, 54B, 54D

DCIT - 15(1)(1), MUMBAI vs. AUTOMOBILE PRODUCTS OF INDIA LTD., CHENNAI

The appeal of the Revenue is dismissed

Bench: Shri Joginder Singh & Shri G. Manjunathaassessment Year: 2004-05 Dcit-15(1)(1), M/S Automobile Products Of Room No.470, 4Th Floor, India Ltd. बनाम/ Aayakar Bhavan, 63-A, North Phase, Sidco Vs. M.K. Road, Industrial Estate, Ambattur, Mumbai-400020 Chennai-600098 (राज"व /Revenue) ("नधा"रती /Assessee) P.A. No.Aabca0725C

section (2), where the capital gain arises from the transfer by way of compulsory acquisition under any law of a capital asset, being land or building or any right in land or building, forming part of an industrial undertaking…..". It is palpable from sec. 54D

LATE SHRI GORDHANDAS S. GARODIA,MUMBAI vs. DCIT 22(1), MUMBAI

In the result, Revenue’s appeal is dismissed and assessee’s appeal is partly allowed

Bench: Shri Saktijit Dey & Shri Rajesh Kumar

gains arising from the transfer of a capital asset effected in the previous year shall, save as otherwise provided in sections [***] [54, 54B, [***] [54D

ITO 22(3)(2), MUMBAI vs. LILADHAR R. TANDEL, NAVI MUMBAI

In the result, appeal of the Revenue is dismissed whereas Cross

Bench: Shri R.C. Sharma & Shri Amarjit Singh, Judicil Member

section (2), where the capital gain arises from the transfer by way of compulsory acquisition under any law of a capital asset, being land or building or any right in land or building, forming part of an industrial undertaking ..... ". It is palpable from sec. 54D

THE ASSISSTANT COMMISSIONER OF INCOME TAX-15(1)(1), MUMBAI vs. GAURI TANDON, MUMBAI

In the result, appeal filed by the Revenue is dismissed

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Rahul Chaudhary, Hon'Bleacit – 15(1)(1) V. Gauri Tandon Aayakar Bhavan, M.K. Road Tandon Beach House Mumbai - 400020 Plot No. 35(Pt), Aajad Road Juhu Koliwada, Santacruz (W) Mumbai - 400049 Pan: Aaapb4013C (Appellant) (Respondent) Assessee Represented By : Shri Vijay Mehta Department Represented By : Shri Smiti Samant

54D, 54G, 54GA, Large Value Transactions, Large Value of Commodity Exchange transactions, Large long term capital gains and High ratio of refund to TDS. Accordingly, notices 143(2) and 142(1) of Income- tax Act, 1961 (in short “Act”) were issued and served on the assessee. In response, authorised representative of the assessee attended and filed relevant information as called

FARID GULMOHAMED,MUMBAI vs. ITO (IT) 3(1), MUMBAI

In the result, the assessee’s appeal for A

Bench: Shri Jason P. Boaz & Shri Sandeep Gosainshri Farid Gulmohamed Income Tax Officer C/O. M/S. B.C. Dastur & Co. (Internationla Tax) 3(1) Vs. Reliance Bldg., 3Rd Floor Schindia House, Ballard Estate 269, D.N. Road, Mumbai Mumbai 400038 Pan - Aefpg3094K Appellant Respondent

section (2), where the capital gain arises from the transfer by way of compulsory acquisition under any law of a capital asset, being land or building or any right in land or building, forming part of an industrial undertaking…..”. It is palpable from sec. 54D

ITO 22(3)(2), NAVI MUMBAI vs. MEGHI PARBAT PATEL, NAVI MUMBAI

The appeal of the Revenue is dismissed

Bench: Shri Joginder Singh & Shri N.K. Pradhanassessment Year: 2011-12 Income Tax Officer-22(3)(2) Shri Meghji Parbat Patel, 3Rd Floor, Room No.307, Prop. G.D.Enterprises, बनाम/ Tower No.6, Vashi Rly Flat B-5, Plot No.46, Vs. Station Complex, Vashi, Anand Niketan Chs, Navi Mumbai Vashi, Navi Mumbai-400705 (राज"व /Revenue) ("नधा"रती /Assessee) P.A. No. Afmpp7902H

section (2), where the capital gain arises from the transfer by way of compulsory acquisition under any law of a capital asset, being land or building or any right in land or building, forming part of an industrial undertaking…..”. It is palpable from sec. 54D

ITO 14(1)3, MUMBAI vs. ASHOKKUMAR M PARIKH, MUMBAI

In the result, appeals of the assessee are allowed, whereas appeals of the Revenue are dismissed

Bench: Shri R.C. Sharma & Shri Sandeep Gosainआमकय अऩीर सं./I.T.A. No.3708/Mum/2014 (नििाारण वषा / Assessment Year : 2010-2011 आमकय अऩीर सं./I.T.A. No.1250/Mum/2013 (नििाारण वषा / Assessment Year : 2010-2011 बिाम/ Shri Bharatkumar Maneklal The Ito 14(1)(3), Parikh, Mumbai. Vs. Arunodaya, 10 Th Floor, Flat No. 1002 & 1003, Opp. New India Colony, C.D. Bariwala Marg, Andheri (W), Mumbai – 400 058. स्थामी रेखा सं./ Pan : Aacpp7754L (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. आमकय अऩीर सं./I.T.A. No.4985/Mum/2014 (नििाारण वषा / Assessment Year : 2010-2011 आमकय अऩीर सं./I.T.A. No.4986/Mum/2014 (नििाारण वषा / Assessment Year : 2010-2011 बिाम/ The Ito 14(1)(3), Shri Bharatkumar Mumbai. Maneklal Parikh, Vs. Arunodaya, 10 Th Floor, Flat No. 1002 & 1003, Opp. New India Colony, C.D. Bariwala Marg, Andheri (W), Mumbai – 400 058. स्थामी रेखा सं./ Pan : Aacpp7754L (अऩीराथी /Appellant) (प्रत्मथी / Respondent) ..

54D, 54G - "right in land" - refer written submissions para 1.4 and 1.5 (j)Section 92B Explanation (ii)(i) - leasehold (k)Section 33A - Explanation below sub-section (8) The above are only instances where the two words have been used either separately or in the same clause Thus, the word "leasehold rights" is not alien to the Income

BHARTKUMAR MANEKLAL PARIKH,MUMBAI vs. ITO 14(1)(3),

In the result, appeals of the assessee are allowed, whereas appeals of the Revenue are dismissed

Bench: Shri R.C. Sharma & Shri Sandeep Gosainआमकय अऩीर सं./I.T.A. No.3708/Mum/2014 (नििाारण वषा / Assessment Year : 2010-2011 आमकय अऩीर सं./I.T.A. No.1250/Mum/2013 (नििाारण वषा / Assessment Year : 2010-2011 बिाम/ Shri Bharatkumar Maneklal The Ito 14(1)(3), Parikh, Mumbai. Vs. Arunodaya, 10 Th Floor, Flat No. 1002 & 1003, Opp. New India Colony, C.D. Bariwala Marg, Andheri (W), Mumbai – 400 058. स्थामी रेखा सं./ Pan : Aacpp7754L (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. आमकय अऩीर सं./I.T.A. No.4985/Mum/2014 (नििाारण वषा / Assessment Year : 2010-2011 आमकय अऩीर सं./I.T.A. No.4986/Mum/2014 (नििाारण वषा / Assessment Year : 2010-2011 बिाम/ The Ito 14(1)(3), Shri Bharatkumar Mumbai. Maneklal Parikh, Vs. Arunodaya, 10 Th Floor, Flat No. 1002 & 1003, Opp. New India Colony, C.D. Bariwala Marg, Andheri (W), Mumbai – 400 058. स्थामी रेखा सं./ Pan : Aacpp7754L (अऩीराथी /Appellant) (प्रत्मथी / Respondent) ..

54D, 54G - "right in land" - refer written submissions para 1.4 and 1.5 (j)Section 92B Explanation (ii)(i) - leasehold (k)Section 33A - Explanation below sub-section (8) The above are only instances where the two words have been used either separately or in the same clause Thus, the word "leasehold rights" is not alien to the Income

ITO 14(1)3, MUMBAI vs. BHARATKUMAR M PARIKH, MUMBAI

In the result, appeals of the assessee are allowed, whereas appeals of the Revenue are dismissed

Bench: Shri R.C. Sharma & Shri Sandeep Gosainआमकय अऩीर सं./I.T.A. No.3708/Mum/2014 (नििाारण वषा / Assessment Year : 2010-2011 आमकय अऩीर सं./I.T.A. No.1250/Mum/2013 (नििाारण वषा / Assessment Year : 2010-2011 बिाम/ Shri Bharatkumar Maneklal The Ito 14(1)(3), Parikh, Mumbai. Vs. Arunodaya, 10 Th Floor, Flat No. 1002 & 1003, Opp. New India Colony, C.D. Bariwala Marg, Andheri (W), Mumbai – 400 058. स्थामी रेखा सं./ Pan : Aacpp7754L (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. आमकय अऩीर सं./I.T.A. No.4985/Mum/2014 (नििाारण वषा / Assessment Year : 2010-2011 आमकय अऩीर सं./I.T.A. No.4986/Mum/2014 (नििाारण वषा / Assessment Year : 2010-2011 बिाम/ The Ito 14(1)(3), Shri Bharatkumar Mumbai. Maneklal Parikh, Vs. Arunodaya, 10 Th Floor, Flat No. 1002 & 1003, Opp. New India Colony, C.D. Bariwala Marg, Andheri (W), Mumbai – 400 058. स्थामी रेखा सं./ Pan : Aacpp7754L (अऩीराथी /Appellant) (प्रत्मथी / Respondent) ..

54D, 54G - "right in land" - refer written submissions para 1.4 and 1.5 (j)Section 92B Explanation (ii)(i) - leasehold (k)Section 33A - Explanation below sub-section (8) The above are only instances where the two words have been used either separately or in the same clause Thus, the word "leasehold rights" is not alien to the Income